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| This section briefly describes a process practiced by many large investment managers. It lays out a framework for the proper management of investment decisions, and focuses attention on the activities which add the most to investment success. By identifying where and how to add value, the investor will inevitably improve their long term performance. |
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The objective is to develop and implement an investment procedure which is congruent with the ‘Best Practices’ of major investment institutions.
The reader should note however, that the framework described here is for general introductory purposes only. The Advanced ALM (Asset Liability Management) section of this website goes into much greater detail in analyzing parts of “Phase Two” as described here. Concepts such as time diversification and the efficient frontier are questionable and are explored in much greater detail elsewhere. |
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