$25.00
Various researchers have investigated the importance of asset allocation versus security selection. Although we think this question is conceptually weak—because asset allocation and security selection have different missions—we address it to ensure appropriate quantitative treatment. We focus on feasibility rather than on what managers actually do. Hence, our approach is free of benchmark thinking and makes no assumptions regarding portfolio positions or potential constraints.
Renato Staub, Ph.D., William Blair and Company
Brian Singer, CFA, William Blair and Company
Description
Asset Allocation vs. Security Selection: Their Relative Importance
Various researchers have investigated the importance of asset allocation versus security selection. Although we think this question is conceptually weak—because asset allocation and security selection have different missions—we address it to ensure appropriate quantitative treatment. We focus on feasibility rather than on what managers actually do. Hence, our approach is free of benchmark thinking and makes no assumptions regarding portfolio positions or potential constraints.
Related products
-
A General Approach for Linking Arithmetic Attribution Results Over Time
$25.00 Add to cart -
A Framework for Multiple Currency Fixed Income Attribution
$25.00 Add to cart -
A Case for Fixed Income Holdings-Based Attribution: Techniques for Achieving Cleaner Results
$25.00 Add to cart -
A Geometric Methodology for Performance Attribution
$25.00 Add to cart