Portfolio Design: A Modern Approach to Asset Allocation

"Wharton professor Richard Marston has captivated investors and investment professionals for over thirty years, including the 600 ultra-high-net-worth investors who have completed Wharton's five-day Private Wealth Management program. Never boring, and always practical, Dick Marston knows both institutional investors and individual investors well—their concerns and challenges. Portfolio Design will no doubt become a timeless reference for any serious investor."—Charlotte Beyer, founder and CEO, Institute for Private Investors

"Richard Marston's tremendous insight into building well-diversified and successful investment portfolios has benefited a generation of financial advisors and individual and institutional investors. Marston offers a dynamic and cutting-edge understanding of the asset allocation process."—Phil C. Shaffer, CIMA, Managing Director, Graystone Consulting, Morgan Stanley Smith Barney

"After taking a bruising the past couple of years, many advisors who only learned the basics of asset allocation have too quickly dismissed the science of effective portfolio design. Many of these advisors have turned their back on the essential knowledge, tools, and skills for a new age of sophisticated investors. For more than twenty-three years, the best and brightest financial advisors in the world have learned asset allocation and portfolio design strategies from Dr. Marston on their path to become Certified Investment Management AnalystSM (CIMA®) practitioners, the premier credential for investment consultants. Advisors who are serious about serving their clients' investment objectives will consume this book from cover to cover."—SEAN R. WALTERS, CEO/Executive Director, Investment Management Consultants Association®, the credentialing body for CIMA® certification

"Dick has done it again! He has synthesized a vast body of knowledge into an incisive foundational tome for financial advisers. He uses the prism of historical returns to make sense of recent downturns and dispels common myths in various asset classes. For financial advisers seeking a solid foundation on which to base their advice, Portfolio Design is a must-read."—Stephen M. Horan, PhD, CFA, Head, Professional Education Content and Private Wealth, CFA Institute