Practical Risk-Adjusted Performance Measurement. Carl R. Bacon

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      For other titles in the Wiley Finance series please see www.wiley.com/finance

      CARL R. BACON

      Second Edition

      This second edition first published 2022

      Copyright © 2022 John Wiley & Sons, Ltd

      Edition History John Wiley & Sons Ltd (1e, 2013)

      All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, except as permitted by law. Advice on how to obtain permission to reuse material from this title is available at http://www.wiley.com/go/permissions.

      The right of Carl R Bacon to be identified as the author of this work has been asserted in accordance with law.

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       Library of Congress Cataloging-in-Publication Data

      Names: Bacon, Carl R., author.

      Title: Practical risk-adjusted performance measurement / Carl R. Bacon.

      Description: Second edition. | Hoboken, NJ : Wiley, 2022. | Series: Wiley finance series | Includes bibliographical references and index.

      Identifiers: LCCN 2021028308 (print) | LCCN 2021028309 (ebook) | ISBN 9781119838845 (cloth) | ISBN 9781119838869 (adobe pdf) | ISBN 9781119838876 (epub) | ISBN 9781119838883 (obook)

      Subjects: LCSH: Financial risk management. | Performance standards. | Risk management.

      Classification: LCC HD61 .B33 2022 (print) | LCC HD61 (ebook) | DDC 658.15/5—dc23

      LC record available at https://lccn.loc.gov/2021028308

      LC ebook record available at https://lccn.loc.gov/2021028309

      Cover Image: © oxygen/Moment

      Cover Design: Wiley

      This book is dedicated to the staff of Frederick Gent School,

      South Normanton, Derbyshire. They set me on my way.

      “Beauty is in the eye of the beholder.”

      Margaret Wolfe Hungerford (1855–1897), Molly Bawn 1878

      Risk has an undeserved reputation within asset management for being an overly complex, mathematical subject. The purpose of this edition is to simplify the subject and demonstrate with many practical examples that risk is perfectly straightforward and not as complicated as it might seem.

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