Strategic index investing
Richard D. Romey. 2005. Strategic Index Investing. Leawood, KS: Leathers.
Written for a non-specialist audience, this is a useful introduction both to basic concepts of portfolio management, and to exchange traded index funds (ETFs) as an asset class. Given that ETFs have emerged relatively recently, they are not yet on the horizon of most non-professional investors. They should be, and Romey’s book underlines this point in an accessible way. They allow for powerfull diversification strategies, and have opened up significant scope for cost competition vis-a-vis the traditional investment funds market.
Romey’s discussion of portfolio investment in general is transparent and backed up by useful illustrative examples, although in terms of the finer technical points and regarding a critical reflection of the mainline investment literature against the background of alternative perspectives which may be equally relevant for the lay investor, the reader would have to consult supplementary sources. His coverage of ETFs, in particular their inner workings, is comprehensive in the light of his intended readership.
While overall, the author ends up painting ETFs in what some might well regard as overly optimistic a light, this is clearly at present the best introduction to the subject for non-specialists
Comments (No comments)
There are no comments for this post so far.
Post a comment
You must be logged in to post a comment.