RISK AND THE SMART INVESTOR MARTIN DAVID Księgarnia

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Risk exists because of one simple fact: Decisions are always based on incomplete information. Therefore, to meet your investment goals over the long term, you must learn to manage the risks associated with a decision-making process that is by nature flawed. Risk and the Smart Investor provides a framework for making such decisions.

Avoiding unrealistic promises of completely risk-free investing, world-renowned risk management expert David X Martin familiarizes you with the principles of risk management. Based on Martin’s experience in managing risk at several of the world’s largest financial institutions, this principlebased approach presents a unique perspective that helps you manage the risk in every investment you make.

Risk and the Smart Investor provides not only a framework for managing risk in today’s markets, it also prepares you to handle the next financial crisis—which is coming, sooner or later—by separating risk management into four separate processes:

Assessment—know where you are, but accept the fact that you cannot know everything
The Rules of the Game—determine your appetite for risk, diversify accordingly, demand transparency, and institute checks and balances
Decision Making—consider all alternatives, fit your plans into specific time frames, and always have an exit strategy
Reevaluation—continually monitor the outcomes of your decisions and learn from your mistakes

Table of Contents

Introduction

Part 1 Assessment

Risk Principle 1 Know Where You Are 3

Risk Principle 2 Know What You Don't Know 19

Part 2 The Rules Of The Game

Risk Principle 3 Determine Your Appetite for Risk 41

Risk Principle 4 Demand Transparency 57

Risk Principle 5 Diversify 75

Risk Principle 6 Checks and Balances 95

Risk Principle 7 Hard Work 115

Part 3 Decision Making

Risk Principle 8 Consider All the Alternatives 135

Risk Principle 9 Risk Is Everyone's Responsibility in the Decision-Making Process 157

Risk Principle 10 The Importance of Reputation 175

Risk Principle 11 Fit Your Decision Making into Specific Time Frames 189

Part 4 Reevaluation

Risk Principle 12 Monitor Outcomes Continuously 209

Risk Principle 13 Identify and Learn from Your Mistakes 223

Conclusion

Risk Principle 14 Enduring Principles and Perpetual Process 241

Index 253

298 pages, Hardcover

Po otrzymaniu zamówienia poinformujemy,
czy wybrany tytuł polskojęzyczny lub anglojęzyczny jest aktualnie na półce księgarni.