Expecting Returns: An investor’s Guide to Harvesting Market Rewards belongs with its 570 pages to the category of Big Books. This very complete work by Antti Ilmanen explains the heart of investing, in a very clear way that has not been done before.
The title appears to say the core of the book is only about future returns. However, the largest part of the book is about returns in combination with working strategies. A very strong point of the book is the cube Ilmanen shows. By using this cube, a very clear division appears of the investment categories, strategies that work and risks you have to look out for.
To asset allocation specialists this is the work you should have read: it’s highly recommended. Not only does this book contain a lot of statistics and objective criteria; it can be used as an easy reference book as well. This book can also be recommended to specialists of a specific asset class. After all, strategies and risks are universal and applicable to the entire financial world.
This book seems rather a challenge with its 29 chapters. However, the division of asset class, case studies and broad themes helps you find information very quickly. You can watch an introduction (2:13 minutes) on YouTube:
OpinioPro vs Expected Returns
Explaining returns and strategies leads to ‘Factor Investing’. Which factors matter? Antti Ilmanen advocates Risk Premia and this leads to investing objectively and systematically. The concept ‘timing’ won’t be mentioned in this book…
On OpinioPro’s platform you can find research about Expected Returns. The number of asset managers that publish this kind of Expected Returns reports is lower than asset allocation opinions. What are the differences between the expectations and why? These questions make an investments committee more accurate. At the moment a lot of people search for and read about factor investing at www.opiniopro.com. The amount of publications is growing very fast. These publications are timeless: it’s about a strategy, not about an actual vision.
OpinioPro has currently over 2,500 investment research reports on these subjects at its platform. The best ‘research engine’ is now available without registration at www.opiniopro.com