The Art of Asset Allocation: Principles and Investment Strategies for Any Market, Second Edition: Principles and Investment Strategies for Any Mark

by David M. Darst and David H. Darst

Book Overview

The fully revised classic on employing asset allocation techniques to grow real wealth

A global leader and preeminent expert in asset allocation, David Darst delivers his masterwork on the topic. In a fully updated and expanded second edition of The Art of Asset Allocation, Morgan Stanley's Chief Investment Strategist covers the historic market events, instruments, asset classes, and economic forces that investors need to be...

• Format: Hardcover
• Language: English
• ISBN: 0071592946
• ISBN13: 9780071592949
• Release Date: May 2008
• Publisher: McGraw-Hill Education
• Length: 400 Pages
• Weight: 1.70 lbs.
• Dimensions: 1.4" x 6.4" x 9.0"

Customer Reviews

Excellent, for the most part

The first one half or one third of the book is worth the full price. I found the last parts (about the last few chapters) to be somewhat boring. The book should be quite useful for any investor who desires to utilize the method of asset allocations among a most diverse asset classes. The author is clearly a very thoughtful thinker who appears to be a master in the field. He outlays the theory of asset allocation, explains features of most possible class assets, how they interact with each other, how they may react to different economic environment, and how to implement the act of balancing and so on. This is a great book for the serious, long term investor who is not interested in short term trades, but is planning to have a life-long plan based on science, sound theory, not based on media excitement. The only drawback I saw was a boring style of writing that emerged, for some unclear reason, at the end. I found in the last few chapters that too much was written to explain obvious issues, with little interesting facts. Nonetheless, I enjoyed the bulk of the book and recommend it highly.

Little Book That Saves Your Assets

Financial advice with a smile! I found this informative and easy to understand. Great gift for anyone who is interested in personal finances. I ordered a couple as graduation presents. Who is Uncle Frank?

For Those Who Care About Money...

There are generally two audiences who read financial books and publications: Financial practioners and the rest of the population who is interested in money & investing. It is quite rare and, in my opinion, undesirable for a finance book to try to speak to both audiences simultaneously. Darst works for a premier financial firm that specializes in helping those who are already rich get richer. It stands to reason then that his analysis, stemming from his professional expertise, would be at a high level from the gate. I give this book 5 stars and reccomend that only financial practioners or investors who already possess a high level of understanding attempt to read it. The author states at the beginning of the book that investors with little capital (who are at the beginning of the wealth accumulation cycle) keep it simple. You do not need this book if you have less than $100,000 of investable assets. That is not to say that you shouldn't read it in preparation for future financial success. The asset allocation methods in this book are designed to grow/protect/diversify an already significant pool of funds. For those who have prospered financially, consulting a financial advisor is really the only prudent course of action. But, like anything else in life - Chance favors the prepared mind.

genius

I think some of the other reviewers are missing the point of this book. Does he suggest an advisor?, yes. Do you absolutely need an advisor?, no. But if you were sued tomorrow for all that you had, would you crack open the law books and get ready for court or would you hire someone who is a professional. Now I will admit the area of financial advice is laden with salespeople...there are bad doctors, lawyers(that goes without saying...haha), even teachers, and priests....but there are also people who know what they are doing and talking about. I think it would be useful to you to read this book, not trying to become an expert, but rather to serve as your guide to find an expert. This book will teach you the jargon and philosophy of a prudent investor...ask a few questions from the book and quickly you will see who is an advisor and who is a salesperson.and For those of you on the real estate kick let me remind of three things...1) history is a good teacher, while not perfect history does show more reward for equities than real estate but buy at least one house, 2)things always revert to the mean (if you don't know what this means please buy this book now), 3) this time is NOT different. And yes my house has doubled in the last two years too. Find great investors and learn from them.

Practical and Insightful Guide to Allocation Strategies

Timely tome on navigating through the thicket of investment options in unsettled and uncertain times. Author does a masterful job of presenting a wide array of investment options and strategies, simplifying the underlying complexity with easy to understand prose. Brings an experienced eye to individual and institutional investment strategies, and illustrates them with "out of the box" thinking and style. Very worthwhile addition to an investment library.