Authors: Brian Singer & Greg Fedorinchik

Publisher: Wiley Financial
ISBN: 978-0-470-43540-3

Click Here To Purchase Investment Leadership and Portfolio Management: The Path to Successful Stewardship for Investment Firms (Wiley Finance) 

Books about investment techniques and investment strategies are numerous. These cover a whole gamut from individual asset classes to portfolio construction and risk management. However, there are few books that attempt to address the challenge of managing a asset management company.

Investment Leadership and Portfolio Management is written by authors with deep experience in working in both good and bad investment firms based on which they have distilled their experience into lessons for building a top class investment firm.

Singer and Fedorinchik clearly identifies a shared mission and values as the bed rock of a successful investment firm and give many examples both in general and from their own experience in bringing home this crucial point. They extend this further into defining the firm's investment philosophy and  strategic goals and key performance indicators to sync the strategy of the firm to its overall mission.

In order to understand performance better, possibly the most important factor that clients look at, the authors go deep into analyzing and showing some of the misconceptions about good and bad performance. Creating the right perspective for looking at performance, they highlight the criticality of communication for superior results to the clients.

Delving upon the issues concerning the day to day operations of the investment firm, the authors highlight the importance of the investment process and managing the team to ensure sufficient control but at the same time giving enough freedom for bringing out the best from the individuals in the team.

There is valuable advice in this book for the manager in implementing an investment process in an ever-changing environment. Market behavior and the challenges it poses for the fundamental investor are addressed taking several examples from behavioral finance.

The authors provide a framework to compensate managers based on exposure to market and the skill of the manager after a discussion of excessive fee structures and the defects of the current fee structures.

Investment Leadership and Portfolio Management addresses important issues, both intangible and the operational, in building and managing a successful investment management firm. The authors cite several examples of firms both from own experience and in general to highlight the key themes. Further, there are numerous references for the interested reader to papers and books for the issues touched upon in this book.

This book is well recommended for chief investment officers and managers who aspire to focus on the essentials to build a successful investment firm.

Click Here To Purchase Investment Leadership and Portfolio Management: The Path to Successful Stewardship for Investment Firms (Wiley Finance)