The Allocator's Edge: A modern guide to alternative investments and the future of diversification (Hardcover)

The Allocator's Edge: A modern guide to alternative investments and the future of diversification By Phil Huber, Clifford Asness (Introduction by) Cover Image

The Allocator's Edge: A modern guide to alternative investments and the future of diversification (Hardcover)

By Phil Huber, Clifford Asness (Introduction by)


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We are entering a golden age of alternative investments.

Alternative asset classes including private equity, hedge funds, catastrophe reinsurance, real assets, non-traditional credit, alternative risk premia, digital assets, collectibles, and other novel assets are now available to investors and their advisors in a way that they never have been before.

The pursuit of diversification is not as straightforward as it once was — and the classic 60/40 portfolio may no longer be sufficient in helping investors achieve their most important financial goals. With the ever-present need for sustainable income and risk management, alternative assets are poised to play a more prominent role in investor portfolios.

Phil Huber is the Chief Investment Officer for a multi-billion dollar wealth management firm and acts as your guide on a journey through the past, present, and future of alternative investments. In this groundbreaking tour de force, he provides detailed coverage across the spectrum of alternative assets: their risk and return characteristics, methods to gain exposure, and how to fit everything into a balanced portfolio.

With a foreword by Clifford Asness, The Allocator’s Edge addresses:

1. Why the future may present challenges for traditional portfolios; why the adoption of alternatives has remained elusive for many allocators; and why the case for alternatives is more compelling than ever thanks to financial evolution and innovation.

2. A comprehensive survey of the asset classes and strategies that comprise the vast universe of alternative investments.

3. How to build durable and resilient portfolios that harness alternative assets; and how to sharpen the client communication skills needed to establish proper expectations and make the unfamiliar familiar.

The Allocator’s Edge is written with the practitioner in mind, providing financial advisors, institutional allocators, and other professional investors the confidence and courage needed to effectively understand, implement, and translate alternatives for their clients.

Alternative investments are the allocator’s edge for the portfolios of tomorrow — and this is the essential guide for advisors and investors looking to seize the opportunity.

Phil Huber, CFA, CFP®, as both a wealth management practitioner and an investment industry thought leader, is uniquely qualified in understanding the merits of alternative investments as well as the myriad challenges that accompany their use in the portfolios of wealthy individuals and families. As the Chief Investment Officer for Savant Wealth Management, Phil leads the firm’s investment and portfolio-management related functions. Phil has been featured across many prominent media outlets, including The Wall Street Journal, The New York Times, InvestmentNews, CityWire RIA Magazine, and Bloomberg TV, and was named one of Investopedia’s Top 100 Financial Advisors (2018-2020). He also authors a popular investing blog, bps and pieces, and is active on Twitter and LinkedIn.
Product Details ISBN: 9780857197931
ISBN-10: 0857197932
Publisher: Harriman House
Publication Date: November 30th, 2021
Pages: 324
Language: English

Phil Huber has created a clear roadmap for investing for the next decade?his book is that rare combination of insightful and entertaining. --Matt Kadnar, Partner and Portfolio Manager, GMO

Do you think stocks are expensive? Do you shudder at bond yields? If you’re nodding your head, then this book is for you. In The Allocator’s Edge, Phil Huber unpacks the misunderstandings and misconceptions that often accompany alternative investments. From private equity and hedge funds to catastrophe bonds and non-traditional lending, Huber explains alternative strategies in a way that can teach a financial professional and also make sense to the layman. --Michael Batnick, Director of Research at Ritholtz Wealth Management and co-host of the Animal Spirits podcast

The Allocator’s Edge really hits the mark as a primer in understanding why alternatives are important and sets a solid foundation for how to incorporate non-traditional exposures in portfolios. I would certainly recommend this to analysts, financial advisors, or other investors looking to be more conversant and comfortable with this third “bucket”?one I believe will be critical to delivering clients’ desired outcomes over the next decade. --Shannon Saccocia, Chief Investment Officer of Boston Private Wealth

Phil has a breadth of knowledge across investing that I'm envious of. I can’t believe how much this book covers, and how high quality the analysis across each section is. If I were a financial advisor or institutional allocator seeking to expand my knowledge of alternative investments, this is the book I'd pick up first. --Ali Hamed, co-founder and General Partner at CoVenture

Grab your highlighter and get ready to learn. The Allocator’s Edge offers the sophisticated investor a comprehensive look into the world of alternative investments. Phil Huber clearly articulates the essential concepts in an approachable manner that makes this book a valuable resource to allocators, advisors, and investing enthusiasts. --Peter Lazaroff, Chief Investment Officer at Plancorp

With equity capital markets near all-time high valuations and interest rates close to all-time lows, it appears the traditional 60/40 portfolio that has served investors well for decades will be challenged to generate the rates of return needed going forward. In The Allocator’s Edge, Huber provides investors a practical guide how to incorporate alternative investments into a portfolio framework to bridge this gap. --Chris Schelling, Director of Alternatives, Venturi Private Wealth, and Author, Better than Alpha

With low interest rates and elevated equity valuations, traditional portfolios are increasingly at risk of being bodyslammed. Phil provides readers a ringside seat to the modern alternative investment landscape, covering everything from farmland to digital assets. This comprehensive guide extends beyond the why and into the how, with concrete and actionable takeaways for financial advisors and asset allocators to bring their portfolios into the 21st century. --Meb Faber, Chief Executive Officer & Chief Investment Officer of Cambria Investment Management

With language easy enough for a novice investor to understand and a depth of insight for experienced investors to value, Phil Huber has created the modern, comprehensive guide to alternative investing. For anyone looking to expand their investment palette beyond stocks and bonds and learn not just what alternatives are available but how to deploy them in a portfolio, The Allocator’s Edge is essential reading. --Corey Hoffstein, Chief Investment Officer at Newfound Research

The Allocator’s Edge shows just how much the investable universe has expanded and provides a practical path to true diversification. What Huber prescribes is not (yet) the conventional wisdom, but it will be. A decade from now, Huber’s philosophy and quest for safer, more reliable portfolios will be mainstream?and the investor/RIA of the future built upon it. The Allocator’s Edge is bold in vision, full of accumulated wisdom, and immensely practical, giving allocators advice they can implement today to bring greater financial security to those they care for. If you are managing money for others, read this book. --Ross Stevens, Founder and CEO of Stone Ridge Holdings Group

Phil does a wonderful job explaining the current predicament financial advisors face in meeting the needs of their clients and offers a clear explanation of alternatives available. His articulation and display of the need for alternatives is handcrafted for any advisor to copy and paste to make the case for their clients. Phil’s description of the past, present, and future of alternatives is an effective manual for anyone looking to understand where to go. I highly recommend having The Allocator’s Edge on your reference bookshelf. --Ted Seides, founder of Capital Allocators, LLC

Phil Huber has written an important book on an important topic. We know that building good portfolios is getting harder, and Phil gives us a toolkit and a roadmap for getting the job done. --Brian Portnoy, Ph.D., CFA, Founder, Shaping Wealth

The Allocator’s Edge has always been about unlocking the power of uncorrelated risk premia. As democratization and access to product grow, all investors need to arm themselves with requisite knowledge. Phil Huber has put together an excellent set of guiding principles to help today’s allocator navigate and harness the complexity premium. --William J. Kelly, Chief Executive Officer of the CAIA Association