Quotes and Insights by Mark Kritzman

Books:

  • Asset Allocation: From Theory to Practice and Beyond
  • A Practitioner’s Guide to Asset Allocation
  • Prediction Revisited: The Importance of Observation
  • The Portable Financial Analyst: What Practitioners Need to Know
  • Puzzles of Finance: Six Practical Problems and Their Remarkable Solutions
  • Currency Management: Concepts and Practices
  • Asset Allocation for Institutional Portfolios
  • The Financial Analyst’s Handbook

Podcast:

Videos:

Quotes:

  • “Whenever we build portfolios we need to estimate returns and risk. When we do that, we are, unfortunately, exposed to various sources of error.”
  • “Approach investing as scientifically as possible.”
  • “We have to question the assumptions that underpin our models. A lot of these assumptions are necessary to get tractable solutions, but they’re not…typically are not always reflective of reality.”
  • “Use the science as best as you can, but don’t get over reliant on models and simplifying assumptions. Put in the effort to engage with the, you know, to embrace the complexity of the real world.”
  • “You should do if you want to stress-test a portfolio, you should stress-test it based on you know, simulations that are from turbulent subsamples rather than the full sample.”