GOAL-BASED INVESTING: THEORY AND PRACTICE

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Goal-based investing is a new paradigm that is expected to have a profound and long-lasting impact on the wealth management industry. This book presents the concept in detail and introduces a general operational framework that can be used by financial advisors to help individual investors optimally allocate their wealth by identifying performance-seeking assets and hedging assets. Grounded in the principles of asset pricing and portfolio optimisation, the goal-based investing approach leads to the design of investment solutions that truly respond to investors' problems, which can most often be summarized as follows: secure essential goals with the highest confidence level and maximize the chances to reach aspirational goals. A series of case studies guides the reader through the implementation of goal-based investing, illustrates the efficiency of this paradigm and explains how one can accommodate a variety of implementation features such as taxes, short-sales constraints, parameter estimation risk, as well as limited customisation.

A Problem Based Journey from Elementary Number Theory to an Introduction to Matrix Theory

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Contents: Introduction Algebraic Structures The Natural Numbers The Integers The Real Numbers Introduction to Set Theory The Pigeonhole Principle and the Base 2 Number System Introduction to Group Theory Introduction to Matrix Theory Fibonacci Numbers, Determinants and Eigenvalues The Mathematics Behind Google's Page Rank and a Game of Numbers Bibliography Index Readership: High school students who love mathematics and mathematics teachers. Also good for professors of mathematics and maths education, students in the mathematical sciences and pre-service math teachers.