The Stochastic Programming Approach to Asset, Liability, and Wealth Management

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Research Foundation Publications
December 2003 | Vol. 2003 | No. 3 | 191 pages
Source: Research Foundation of AIMR
William T. Ziemba

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Abstract

All individuals and institutions face asset/liability management problems on a continuous basis. In this Research Foundation monograph, the author presents an easily readable, up-to-date treatment of asset and wealth management in the presence of liabilities and other portfolio complexities. The approach discussed and recommended is discrete-time, multiperiod stochastic programming. For most practical purposes, such models provide a superior alternative to other approaches, such as mean-variance, simulation, control theory, and continuous-time finance.

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Topics
Portfolio Management
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Private Wealth Management
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Quantitative Methods
Credits · About the CE Program
5 CE (including 0 SER) Manage CE Credits

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