Equity Management: Quantitative Analysis for Stock
Copyright © 2000
Bruce I. Jacobs and Kenneth N. Levy
Foreword by Harry M. Markowitz, Nobel Laureate
Authorized Chinese Translation from English Language Edition
Published by McGraw-Hill, China Machine Press, 2006.
With a client list that includes many of the world's largest and most sophisticated institutional investors, Jacobs Levy Equity Management has established a reputation as an industry leader in the application of proprietary research and quantitative techniques to the management of equity portfolios designed to offer superior returns on a consistent basis over time. The firm's success rests largely on the pioneering research of its
co-founders, Bruce Jacobs and Ken Levy. Their analytical insights into the complex economic and behavioral factors underlying stock returns form the basis of the firm's unique multidimensional and dynamic approach to investing.
This book brings together, for the first time, Jacobs and Levy's groundbreaking articles from the industry's preeminent journals. These introduce such key concepts as "disentangling" the sources of security returns, "engineering" portfolios to performance benchmarks, and "long-short" investing for exploiting both winning and losing stocks. New introductory material provides a fascinating review of the concepts that form the foundation of modern active equity management and the contributions the authors have made to that foundation.
Bruce Jacobs's and Ken Levy's insights into stock price behavior and investment management have been featured at professional forums, including the
CFA Institute's (formerly Association for Investment Management and Research) Annual Conference, the Institute of Chartered Financial Analysts' Continuing Education seminars, the Institute for Quantitative Research in Finance, the New York Society of Security Analysts, the Society of Quantitative Analysts, and the Berkeley Program in Finance. Their views and strategies have been featured in the pages of the
Wall Street Journal, Investor's Business Daily, Institutional
Investor, and Pensions & Investments.