{"product_id":"performance-of-130-30-strategies-von-sebastian-riegler-rittner","title":"Performance of 130\/30 Strategies","description":"\u003cp\u003eOne of the latest innovations in asset management that has rapidly increased in popularity in recent years is the so-called ¿130\/30 strategy¿. Through a combination of leverage and short selling this strategy enables portfolio managers to underweight unattractive securities to a much bigger extent than it is possible with long-only portfolios. This book analyzes the performance of 130\/30 and other active extension portfolios that are built according to a quantitative security selection model using typical value fundamentals, such as the dividend yield or the price-to-earnings ratio. In comparison to the benchmark and traditional long-only portfolios the 130\/30 strategy does outperform the former two over a 15-year time period from 1993 to early 2008, even after accounting for costs. When analyzing the risk-adjusted returns in more detail it becomes obvious that a 130\/30 strategy is an especially promising alternative to passive or active long-only investment strategies in rather weak market phases as they were present during the early years of this decade. That is why a dynamic strategy that switches between 130\/30, long-only and index depending on the respective market phase is analyzed as well. When using for example an autoregressive model to select the appropriate strategy such a dynamic approach delivers significantly higher returns than a static active extension portfolio does.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783941482210\"\u003e\u003ch3\u003e\u003c\/h3\u003e\u003c\/div\u003e","brand":"Libri","offers":[{"title":"Softcover - 9783941482210","offer_id":39438747959389,"sku":"9783941482210","price":50.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/2078600a-11d5-440d-8fdf-3135479803e3.jpg?v=1775107631","url":"https:\/\/shop.autorenwelt.de\/products\/performance-of-130-30-strategies-von-sebastian-riegler-rittner","provider":"Autorenwelt Shop","version":"1.0","type":"link"}