The Investment Assets Handbook

The Investment Assets Handbook
  • Author : Yoram Lustig
  • Publisher : Harriman House Limited
  • Pages : 450
  • Relase : 2014-12-02
  • ISBN : 9780857194091

The Investment Assets Handbook Book Review:

Investors who build diversified, multi-asset portfolios, have an ever increasing range of investment assets at their disposal. In order to invest effectively - and build a solid, performing portfolio - it is essential for investors to understand each of these single asset classes and how to use them in portfolios. The Investment Assets Handbook covers the full spectrum of different asset classes and investment types available today, providing investors with the definitive information they need to reach an understanding of the broad range of investment assets. The Handbook is divided into four parts: 1. An introduction to asset classes, including how they should be defined, the main features that can be used to characterise asset classes and the roles that different assets fulfil within a multi-asset portfolio. 2. Traditional assets, including global equities, fixed income and cash. 3. Alternative assets, including real estate, commodities, private equity and hedge funds. 4. New alternative investments, including currency, infrastructure, structured finance, leveraged loans, structured products, alternative or smart betas, volatility, art, insurance-linked securities and timber. Each asset chapter within these sections provides a description of the asset and its characteristics, its historic performance, how to model its future long-term performance, the role it performs in a multi-asset portfolio, its risks, how to access it, and other relevant topics. Long-term investment themes that may impact the future behaviour of assets and investing generally are also highlighted and discussed. The Investment Assets Handbook is the essential guide that investors need as they navigate the universe of investment assets and build multi-asset portfolios.

Handbook on Sustainable Investments: Background Information and Practical Examples for Institutional Asset Owners

Handbook on Sustainable Investments: Background Information and Practical Examples for Institutional Asset Owners
  • Author : Swiss Sustainable Finance
  • Publisher : CFA Institute Research Foundation
  • Pages : 200
  • Relase : 2017-12-27
  • ISBN : 9781944960360

Handbook on Sustainable Investments: Background Information and Practical Examples for Institutional Asset Owners Book Review:

A fast growing share of investors have recently widened their scope of analysis to criteria regarded as extra-financial. They are driven by different motivations. Adoption of sustainable investment strategies can be driven, on the one hand by the sole motivation to hedge portfolios against knowable risks by expanding the conceptual framework to incorporate the latest best practice in risk management. Other investors focus rather on a long-term view and make an active bet on societal change. Recent empirical research has shown that considering sustainability factors within investment practices does not come at a cost (i.e. through a reduced opportunity set) but allows for competitive returns. Furthermore, the growing market and resulting competition in the wake of sustainable investing going mainstream has the welcome effect to compress fees for such products. Hence, staying informed about recent trends in sustainable investing is imperative no matter what the main motivation is.

The Routledge Handbook of Responsible Investment

The Routledge Handbook of Responsible Investment
  • Author : Tessa Hebb,James P. Hawley,Andreas G.F. Hoepner,Agnes L. Neher,David Wood
  • Publisher : Routledge
  • Pages : 740
  • Relase : 2015-08-11
  • ISBN : 9781136249747

The Routledge Handbook of Responsible Investment Book Review:

The UN-supported Principles for Responsible Investment initiative has led to around a third of the world’s financial assets being managed with a commitment to invest in a way that considers environmental, social or governance (ESG) criteria. The responsible investment trend has increased dramatically since the global financial crisis, yet understanding of this field remains at an early stage. This handbook provides an atlas of current practice in the field of responsible investment. With a large global team of expert contributors, the book explores the impact of responsible investment on key financial actors ranging from mainstream asset managers to religious organizations. Offering students and researchers a comprehensive introduction to current scholarship and international structures in the expanding discipline of responsible investment, this handbook is vital reading across the fields of finance, economics and accounting.

Handbook of Alternative Assets

Handbook of Alternative Assets
  • Author : Mark J. P. Anson
  • Publisher : John Wiley & Sons
  • Pages : 720
  • Relase : 2008-04-15
  • ISBN : 0470089229

Handbook of Alternative Assets Book Review:

Since the first edition of the Handbook of Alternative Assets was published, significant events-from the popping of the technology bubble and massive accounting scandals to recessions and bear markets-have shifted the financial landscape. These changes have provided author Mark J. P. Anson with an excellent opportunity to examine alternative assets during a different part of the economic cycle than previously observed in the first edition. Fully revised and updated to reflect today's financial realities, the Handbook of Alternative Assets, Second Edition covers the five major classes of alternative assets-hedge funds, commodity and managed futures, private equity, credit derivatives, and corporate governance-and outlines the strategies you can use to efficiently incorporate these assets into any portfolio. Throughout the book, new chapters have been added, different data sources accessed, and new conclusions reached. Designed as both an introduction to the world of alternative assets and as a reference for the active investor, the Handbook of Alternative Assets, Second Edition will help you match alternative assets with your various investment goals.

Fundamentals of Investment

Fundamentals of Investment
  • Author : Brian O'Loughlin,Frank O'Brien
  • Publisher : Routledge
  • Pages : 436
  • Relase : 2019-05-20
  • ISBN : 9781351667562

Fundamentals of Investment Book Review:

Post the Financial Crash, the role of regulation and the impact of regulation on all aspects of the financial industry has broadened and intensified. This book offers a comprehensive review of the operations of the industry post-financial crisis from a variety of perspectives. This new edition builds upon the authors’ predecessor book, Fundamentals of Investment: An Irish Perspective. The core of the original text is retained particularly concerning fundamental concepts such as discounted cash flow valuation techniques. Changes in this new text are driven by two important factors. First, the long shadow of the Global Financial Crisis and the ensuing Great Recession continues to impact economies and financial markets. Second, the new text adopts a more international perspective with a focus on the UK and Ireland. The authors present the reader with a clear linkage between investment theory and concepts (the ‘fundamentals’) and the practical application of these concepts to the financial planning and advisory process. This practical perspective is driven by the decades-long fund management and stockbroking experience of the authors. Investment knowledge is a core competence required by large numbers of organisations and individuals in the financial services industry. This new edition will be an invaluable resource for financial advisers, financial planners and those engaged in advisory and/or support functions across the investment industry. Those taking investment modules in third-level educational institutes will find this book to be a useful complement to the more academically focused textbooks.

Art as an Investment?

Art as an Investment?
  • Author : Ms Melanie Gerlis
  • Publisher : Ashgate Publishing, Ltd.
  • Pages : 192
  • Relase : 2014-03-28
  • ISBN : 9781848221529

Art as an Investment? Book Review:

Aimed at collectors and investors, this user-friendly guide explains art's value as an asset through comparisons with more familiar investments, including property, shares and gold. It draws on extensive research and interviews with key players in these other markets, as well as the author’s own experience, to clarify the specifics of art as an asset class.

The Vanguard Guide to Investing During Retirement

The Vanguard Guide to Investing During Retirement
  • Author : Anonim
  • Publisher : McGraw-Hill Companies
  • Pages : 300
  • Relase : 1997
  • ISBN : 0070668922

The Vanguard Guide to Investing During Retirement Book Review:

For those nearing retirement, making the right investment decisions can mean the difference between "living well" and merely "getting by". This book shows you how to get the most from your savings, select the right mix of investments, and increase your investment income without undue risk.

Alternative Investments: A Primer for Investment Professionals

Alternative Investments: A Primer for Investment Professionals
  • Author : Donald R. Chambers,Keith H. Black,Nelson J. Lacey
  • Publisher : CFA Institute Research Foundation
  • Pages :
  • Relase : 2018
  • ISBN : 9781944960384

Alternative Investments: A Primer for Investment Professionals Book Review:

Alternative Investments: A Primer for Investment Professionals provides an overview of alternative investments for institutional asset allocators and other overseers of portfolios containing both traditional and alternative assets. It is designed for those with substantial experience regarding traditional investments in stocks and bonds but limited familiarity regarding alternative assets, alternative strategies, and alternative portfolio management. The primer categorizes alternative assets into four groups: hedge funds, real assets, private equity, and structured products/derivatives. Real assets include vacant land, farmland, timber, infrastructure, intellectual property, commodities, and private real estate. For each group, the primer provides essential information about the characteristics, challenges, and purposes of these institutional-quality alternative assets in the context of a well-diversified institutional portfolio. Other topics addressed by this primer include tail risk, due diligence of the investment process and operations, measurement and management of risks and returns, setting return expectations, and portfolio construction. The primer concludes with a chapter on the case for investing in alternatives.

The New Wealth Management

The New Wealth Management
  • Author : Harold Evensky,Stephen M. Horan,Thomas R. Robinson
  • Publisher : John Wiley & Sons
  • Pages : 480
  • Relase : 2011-05-03
  • ISBN : 9780470624005

The New Wealth Management Book Review:

Mainstay reference guide for wealth management, newly updated for today's investment landscape For over a decade, The New Wealth Management: The Financial Advisor's Guide to Managing and Investing Client Assets has provided financial planners with detailed, step-by-step guidance on developing an optimal asset allocation policy for their clients. And, it did so without resorting to simplistic model portfolios, such as lifecycle models or black box solutions. Today, while The New Wealth Management still provides a thorough background on investment theories, and includes many ready to use client presentations and questionnaires, the guide is newly updated to meet twenty-first century investment challenges. The book Includes expert updates from Chartered Financial Analyst (CFA) Institute, in addition to the core text of 1997's first edition – endorsed by investment luminaries Charles Schwab and John Bogle Presents an approach that places achieving client objectives ahead of investment vehicles Applicable for self-study or classroom use Now, as in 1997, The New Wealth Management effectively blends investment theory and real world applications. And in today's new investment landscaped, this update to the classic reference is more important than ever.

The Handbook of Professionally Managed Assets

The Handbook of Professionally Managed Assets
  • Author : Keith Fevurly
  • Publisher : Apress
  • Pages : 368
  • Relase : 2014-01-21
  • ISBN : 9781430260202

The Handbook of Professionally Managed Assets Book Review:

This practical guide provides a comprehensive overview of professionally managed assets, or investments in which all portfolio decisions and rebalancing are delegated to a fund manager or third-party advice service. Savvy investors looking to achieve a better understanding of the nuances, benefits, and drawbacks of using these products will find the answers they are looking for in The Handbook of Professionally Managed Assets, no matter whether they would like to learn more about mutual funds or hedge funds. There is a considerable lack of knowledge among the investing public about how to properly construct a well-diversified portfolio of investments that includes a selection of professionally managed assets. As a long-standing financial planner, attorney, and educator, Keith Fevurly remedies this issue in The Handbook of Professionally Managed Assets by clearly presenting the major categories of professionally managed assets and revealing the best tactics for investing in these vehicles. Along the way, he reveals each asset's risks and rewards, and he also provides the in-depth knowledge and information investors need to confidently select the right assets for their portfolios. Filled with valuable insights for everyone from financial professionals to individual investors, The Handbook of Professionally Managed Assets stands alone in its ability to shed light on the many investment vehicles that fall under the larger umbrella of professionally managed assets. With topics as wide-ranging as mutual funds, closed-end funds, unit investment trusts, exchange traded funds, hedge funds, managed futures, and more, this invaluable resource will give you the information you need to build a prosperous financial future for yourself and your clients.

The Routledge Handbook of Responsible Investment

The Routledge Handbook of Responsible Investment
  • Author : Tessa Hebb,James P. Hawley,Andreas G.F. Hoepner,Agnes L. Neher,David Wood
  • Publisher : Routledge
  • Pages : 740
  • Relase : 2015-08-11
  • ISBN : 9781136249730

The Routledge Handbook of Responsible Investment Book Review:

The UN-supported Principles for Responsible Investment initiative has led to around a third of the world’s financial assets being managed with a commitment to invest in a way that considers environmental, social or governance (ESG) criteria. The responsible investment trend has increased dramatically since the global financial crisis, yet understanding of this field remains at an early stage. This handbook provides an atlas of current practice in the field of responsible investment. With a large global team of expert contributors, the book explores the impact of responsible investment on key financial actors ranging from mainstream asset managers to religious organizations. Offering students and researchers a comprehensive introduction to current scholarship and international structures in the expanding discipline of responsible investment, this handbook is vital reading across the fields of finance, economics and accounting.

Asset Allocation and Private Markets

Asset Allocation and Private Markets
  • Author : Cyril Demaria,Maurice Pedergnana,Remy He,Roger Rissi,Sarah Debrand
  • Publisher : John Wiley & Sons
  • Pages : 320
  • Relase : 2021-04-19
  • ISBN : 9781119381006

Asset Allocation and Private Markets Book Review:

The comprehensive guide to private market asset allocation Asset Allocation and Private Markets provides institutional investors, such as pension funds, insurance groups and family offices, with a single-volume authoritative resource on including private markets in strategic asset allocation. Written by four academic and practitioner specialists, this book provides the background knowledge investors need, coupled with practical advice from experts in the field. The discussion focuses on private equity, private debt and private real assets, and their correlation with other asset classes to establish optimized investment portfolios. Armed with the grounded and critical perspectives provided in this book, investors can tailor their portfolio and effectively allocate assets to traditional and private markets in their best interest. In-depth discussion of return, risks, liquidity and other factors of asset allocation takes a more practical turn with guidance on allocation construction and capital deployment, the “endowment model,” and hedging — or lack thereof. Unique in the depth and breadth of information on this increasingly attractive asset class, this book is an invaluable resource for investors seeking new strategies. Discover alternative solutions to traditional asset allocation strategies Consider attractive returns of private markets Delve into private equity, private debt and private real assets Gain expert perspectives on correlation, risk, liquidity, and portfolio construction Private markets represent a substantial proportion of global wealth. Amidst disappointing returns from stocks and bonds, investors are increasingly looking to revitalise traditional asset allocation strategies by weighting private market structures more heavily in their portfolios. Pension fund and other long-term asset managers need deeper information than is typically provided in tangential reference in broader asset allocation literature; Asset Allocation and Private Markets fills the gap, with comprehensive information and practical guidance.

The Handbook of Investing in Today's Financial Markets

The Handbook of Investing in Today's Financial Markets
  • Author : Alessandro De Cristofaro
  • Publisher :
  • Pages : 210
  • Relase : 2020-05-03
  • ISBN : 1070350931

The Handbook of Investing in Today's Financial Markets Book Review:

The Financial World is a complex and interconnected system. Whole new asset classes emerged in the wake of financial innovation and the widespread usage of the internet. Exchange Traded Funds, Automated trading and so on. The individual investor might well feel lost in the maze of new ways of seeking returns and yields. Do old rules still apply? How to allocate the savings that one has to be secure, yet reach meaningful profits? What to avoid and what to look for? These are the questions that I am seeking to answer in this book. It will help you understand how different assets could help you in reaching your financial goals or endanger your portfolio. The investment landscape is also determined by the sentiment of investors. The trust and the confidence in the whole system and its parts could shape much more than short-term movements. Investors have to know that the fragile belief central banks and market participants is an important foundation that most investments rely on. The global financial crisis added fear to mix, a fear of systemic risks which could rattle the whole web of financial markets. The high level of global debt that is the consequence of a multi-decade credit cycle is a defining characteristic of the current environment that leaves investors with doubts about the very foundation of the global economy. How to navigate in this environment? Is it possible to reach satisfying returns in a zero (or negative) interest rate world? Even seasoned investors find it hard to answer these questions without projecting their hopes or fears on the future. This book will try to give a guide for these conditions by looking at the core of the problem and by breaking down what is unchanged and what is upside down in this environment. As you will see throughout the book, I won't try to answer all the questions for you, as your portfolio should be based on your specific needs and decisions, And don't forget, there are no definitive answers, and risk is an inherent part of investing that should be embraced and controlled rather than feared and avoided at all costs. That said, I am confident that the knowledge and advice I offer will help you in making the right decisions and in looking at markets and assets in more conscious and objective way! I wish you an exciting journey!

The Handbook of Traditional and Alternative Investment Vehicles

The Handbook of Traditional and Alternative Investment Vehicles
  • Author : Mark J. P. Anson,Frank J. Fabozzi,Frank J. Jones
  • Publisher : John Wiley & Sons
  • Pages : 528
  • Relase : 2010-12-03
  • ISBN : 1118008693

The Handbook of Traditional and Alternative Investment Vehicles Book Review:

A comprehensive volume that covers a complete array of traditional and alternative investment vehicles This practical guide provides a comprehensive overview of traditional and alternative investment vehicles for professional and individual investors hoping to gain a deeper understanding of the benefits and pitfalls of using these products. In it, expert authors Mark Anson, Frank Fabozzi, and Frank Jones clearly present the major principles and methods of investing and their risks and rewards. Along the way, they focus on providing you with the information needed to successfully invest using a host of different methods depending upon your needs and goals. Topics include equities, all types of fixed income securities, investment-oriented insurance products, mutual funds, closed-end funds, investment companies, exchange-traded funds, futures, options, hedge funds, private equity, and real estate Written by the expert author team of Mark Anson, Frank Fabozzi, and Frank Jones Includes valuable insights for everyone from finance professionals to individual investors Many finance books offer collections of expertise on one or two areas of finance, but The Handbook of Traditional and Alternative Investment Vehicles brings all of these topics together in one comprehensive volume.

Mutual Fund Industry Handbook

Mutual Fund Industry Handbook
  • Author : Lee Gremillion
  • Publisher : John Wiley & Sons
  • Pages : 400
  • Relase : 2012-06-22
  • ISBN : 9781118428726

Mutual Fund Industry Handbook Book Review:

"The Mutual Fund Industry Handbook is a remarkably important work . . . I am profoundly impressed by the broad and comprehensive sweep of information and knowledge that this book makes available to industry participants, college and business school students, and anyone else with a serious interest in this industry." -- From the Foreword by John C. Bogle President, Bogle Financial Markets Research Center Founder and former chief executive, The Vanguard Group A Foreword by John C. Bogle, founder of The Vanguard Group and one of the most respected leaders in the mutual fund industry, sets the stage for this authoritative book that explains the complexities of the phenomenal industry in simple terms. Investors like the fact that mutual funds offer professional management, easy diversification, liquidity, convenience, a wide range of investment choices, and regulatory protection. Mutual Fund Industry Handbook touches on all of those features and focuses on the diverse functions performed in the day-to-day operations of the mutual fund industry. You'll learn about: Front-office functions-analysis, buying, and selling. Back-office functions, including settlement, custody, accounting, and reporting. Commission structures-front-end loads, back-end loads, or level loads. The various fund categories used by the Investment Company Institute, Morningstar, and Lipper. The roles played by fund managers, investment advisors, custodial banks, distributors, transfer agents, and other third-party service providers. If you want a definitive reference on the mutual fund industry, this is the book for you.

FT Guide to Saving and Investing for Retirement

FT Guide to Saving and Investing for Retirement
  • Author : Yoram Lustig
  • Publisher : Pearson UK
  • Pages : 320
  • Relase : 2016-06-02
  • ISBN : 9781292129327

FT Guide to Saving and Investing for Retirement Book Review:

One of the most important financial plans you can have is saving and investing for your retirement. Quite simply, the success of this plan determines whether you’re going to live comfortably after you stop working. The Financial Times Guide to Saving and Investing for Retirement will lead you through a bewildering maze of financial tools and provide advice on crucial investment decisions. It provides everything you need to know about how to save and invest so that you can successfully plan for your retirement. It is packed with invaluable information on taxes, ISAs, pensions, investing across different assets and buying property. The Financial Times Guide to Saving and Investing for Retirement will help you: Identify your financial objectives and work out how to achieve them Learn how to invest for a specific goal and time Find out about taxes and other rules that may impact your wealth Understand why it’s essential to be actively involved in managing your post-work income

Investment Governance for Fiduciaries

Investment Governance for Fiduciaries
  • Author : Michael E. Drew,Adam N. Walk
  • Publisher : CFA Institute Research Foundation
  • Pages : 190
  • Relase : 2019-04-22
  • ISBN : 9781944960704

Investment Governance for Fiduciaries Book Review:

Governance is a word that is increasingly heard and read in modern times, be it corporate governance, global governance, or investment governance. Investment governance, the central concern of this modest volume, refers to the effective employment of resources—people, policies, processes, and systems—by an individual or governing body (the fiduciary or agent) seeking to fulfil their fiduciary duty to a principal (or beneficiary) in addressing an underlying investment challenge. Effective investment governance is an enabler of good stewardship, and for this reason it should, in our view, be of interest to all fiduciaries, no matter the size of the pool of assets or the nature of the beneficiaries. To emphasize the importance of effective investment governance and to demonstrate its flexibility across organization type, we consider our investment governance process within three contexts: defined contribution (DC) plans, defined benefit (DB) plans, and endowments and foundations (E&Fs). Since the financial crisis of 2007–2008, the financial sector’s place in the economy and its methods and ethics have (rightly, in many cases) been under scrutiny. Coupled with this theme, the task of investment governance is of increasing importance due to the sheer weight of money, the retirement savings gap, demographic trends, regulation and activism, and rising standards of behavior based on higher expectations from those fiduciaries serve. These trends are at the same time related and self-reinforcing. Having explored the why of investment governance, we dedicate the remainder of the book to the question of how to bring it to bear as an essential component of good fiduciary practice. At this point, the reader might expect investment professionals to launch into a discussion about an investment process focused on the best way to capture returns. We resist this temptation. Instead, we contend that achieving outcomes on behalf of beneficiaries is as much about managing risks as it is about capturing returns—and we mean “risks” broadly construed, not just fluctuations in asset values.

Asset Management

Asset Management
  • Author : Andrew Ang
  • Publisher : Oxford University Press (UK)
  • Pages : 704
  • Relase : 2014
  • ISBN : 9780199959327

Asset Management Book Review:

Stocks and bonds? Real estate? Hedge funds? Private equity? If you think those are the things to focus on in building an investment portfolio, Andrew Ang has accumulated a body of research that will prove otherwise. In his new book Asset Management: A Systematic Approach to Factor Investing, Ang upends the conventional wisdom about asset allocation by showing that what matters aren't asset class labels but the bundles of overlapping risks they represent. Making investments is like eating a healthy diet, Ang says: you've got to look through the foods you eat to focus on the nutrients they contain. Failing to do so can lead to a serious case of malnutrition - for investors as well as diners. The key, in Ang's view, is bad times, and the fact that every investor's bad times are somewhat different. The notion that bad times are paramount is the guiding principle of the book, which offers a new approach to the age-old problem of where do you put your money? Years of experience,both as a finance professor and as a consultant, have led Ang to see that the traditional approach, with its focus on asset classes, is too crude and ultimately too costly to serve investors adequately. He focuses instead on factor risks," the peculiar sets of hard times that cut across asset classes, and that must be the focus of our attention if we are to weather market turmoil and receive the rewards that come with doing so. Optimally harvesting factor premiums - on our own or by hiring others -r equires identifying your particular set of hard times, and exploiting the difference between them and those of the average investor. Clearly written yet chock-full of the latest research and data, Asset Management will be indispensable reading for trustees, professional money managers, smart private investors, and business students who want to understand the economics behind factor risk premiums, harvest them efficiently in their portfolios, and embark on the search for true alpha."

Artificial Intelligence in Asset Management

Artificial Intelligence in Asset Management
  • Author : Söhnke M. Bartram,Jürgen Branke,Mehrshad Motahari
  • Publisher : CFA Institute Research Foundation
  • Pages : 96
  • Relase : 2020-08-28
  • ISBN : 9781952927034

Artificial Intelligence in Asset Management Book Review:

Artificial intelligence (AI) has grown in presence in asset management and has revolutionized the sector in many ways. It has improved portfolio management, trading, and risk management practices by increasing efficiency, accuracy, and compliance. In particular, AI techniques help construct portfolios based on more accurate risk and return forecasts and more complex constraints. Trading algorithms use AI to devise novel trading signals and execute trades with lower transaction costs. AI also improves risk modeling and forecasting by generating insights from new data sources. Finally, robo-advisors owe a large part of their success to AI techniques. Yet the use of AI can also create new risks and challenges, such as those resulting from model opacity, complexity, and reliance on data integrity.

Crypto Asset Investing in the Age of Autonomy

Crypto Asset Investing in the Age of Autonomy
  • Author : Jake Ryan
  • Publisher : John Wiley & Sons
  • Pages : 304
  • Relase : 2020-12-03
  • ISBN : 9781119705376

Crypto Asset Investing in the Age of Autonomy Book Review:

Competition, the drive for efficiency, and continuous improvement ultimately push businesses toward automation and later towards autonomy. If a business can operate without human intervention, it will minimize its operational cost. If Uber can remove the expense of a driver with an autonomous vehicle, it will provide its service cheaper than a competitor who can’t. If an artificially intelligent trading company can search, find, and take advantage of some arbitrage opportunity, then it can profit where its competitors cannot. A business that can analyze and execute in real-time without needing to wait for a human to act, is a business that will be able to take advantage of brief inefficiencies from other markets or businesses. This trend following a thesis that is based on 100 years of proven economic theory. Short-wave economic cycles, those 5- to 10-year cycles, are driven by credit but the long-wave economic cycles, those 50- to 60-year cycles, are driven by technological revolution. We’ve had 5 cycles over the past 200 years with the last wave, the Age of Information & Telecommunications. We've seen evidence that a new cycle has begun. Technological revolutions come by way of a cluster of new innovations. About a decade ago, you started to see AI, robotics and IoT (sensors) delivering on automation. That’s been powerful, but not transformational. It does not force businesses to fundamentally change how they do business. The last piece of the puzzle was cryptocurrency because it allows us to process and transfer economic value without human intervention. Soon, there will be a global race to build autonomous operations. Businesses and organizations without autonomous operations simply will not be able to compete with those that do because … autonomy is the ultimate competitive advantage. Crypto is the mechanism that will accrue value from being the infrastructure for the next digital financial revolution. Crypto Asset Investing lays out a case that we’ve begun a new technological revolution similar to the Internet Age of the 1990’s. Artificial intelligence, the Internet of Things, robotics and cryptocurrency are converging to deliver on a new age, what I call the Age of Autonomy. Understanding the transformation that’s taken place before anyone else can yield enormous investment opportunity. In this book, you’ll learn how and why to invest in crypto assets.