Risk Budgeting

Covers the hottest topic in investment for multitrillion pension
market and institutional investors

Institutional investors and fund managers understand they must take
risks to generate superior investment returns, but the question is
how much. Enter the concept of risk budgeting, using quantitative
risks measurements, including VaR, to solve the problem. VaR, or
value at risk, is a concept first introduced by bank dealers to
establish parameters for their market short-term risk exposure.
This book introduces VaR, extreme VaR, and stress-testing risk
measurement techniques to major institutional investors, and shows
them how they can implement formal risk budgeting to more
efficiently manage their investment portfolios. Risk Budgeting is
the most sophisticated and advanced read on the subject out there
in the market.