Maslowian Portfolio Theory: A Coherent Approach to Strategic Asset Allocation

Written from the perspective of a financial investor, this account supports Behavioral Portfolio Theory, draws attention to the importance of asset-liability matching, and offers a natural framework for investor-adviser dialogue and mathematical portfolio optimization. In this system, investment goals—and not investor psychology—drive investment advice; "risk" depends on the investment objective and may be different in each sub-portfolio. This comprehensive book presents an extensive overview of existing portfolio theories and behavioral finance, and introduces new theories and its practical applications.