Advanced Portfolio Management: A Quant's Guide for Fundamental Investors

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The number of fundamental portfolio managers and investment analysts is substantial, with over 9,000 hedge funds globally, most managing equity portfolios. Institutional managers also oversee trillions of dollars. Sell-side analysts must understand the investment processes of their buy-side counterparts to make effective recommendations. Additionally, risk managers on both sides provide advisory services to portfolio managers regarding optimization and risk quantification. The primary audience for this book includes buy-side investors and analysts, numbering in the thousands, supported by organizations like the Chartered Alternative Investment Analyst Association (CAIA) and the Chartered Financial Analyst (CFA) Institute. The secondary market consists of sell-side analysts and risk managers; typically, a well-established fund employs one risk manager for every ten analysts, while banks and service firms maintain extensive industry-focused analyst teams. These professionals are also supported by the CFA Institute, along with risk management associations such as the Global Association of Risk Professionals (GARP) and the Professional Risk Managers' International Association (PRMIA). Despite the large audience, there remains a gap in resources on converting insights into actionable portfolios.