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Active Portfolio Management as Preparation for Portfolio Choice Theory

Article Quant Q&A · Author: Victor
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Summary

The document recommends *Active Portfolio Management* by Richard Grinold and Ronald Kahn as a possible preparation for graduate study in asset pricing and portfolio choice. The original question asks for a book that is accessible to a beginner yet rigorous enough to support more advanced theory; the response points to the book’s detailed treatment of theories used in portfolio composition.

This is a brief reading recommendation rather than a review or a structured account of the book. It gives no chapter list, explanation of prerequisites, comparison with other texts, or evidence about how accessible the material is to a beginning graduate student. Readers should therefore treat it as a starting point for finding portfolio theory resources, not as a full assessment of the book’s suitability for a particular course or background.

Key ideas

  • The response recommends Active Portfolio Management by Richard Grinold and Ronald Kahn as preparation for portfolio choice theory.
  • The book is described as building up theories used in portfolio composition in detail.
  • The document does not compare the recommendation with other books or assess specific prerequisites.

Tags

Portfolio construction
Full text
# Answer by Mark Horvath (score 2, accepted)


# What is some book that is complete and easy but hard enough to serve as prerequisite for asset pricing and portfolio choice theory?












What is some book that is complete and easy but hard enough to serve as prerequisite for asset pricing and portfolio choice theory by kerry back?

I wonder how come a beginning graduate textbook is so hard...

## Answer by Mark Horvath (score 2, accepted)

https://quant.stackexchange.com/a/18933

I would recommend "Active Portfolio Management" from Richard Grinold and Ronald Kahn. The book builds up most theories used in portfolio composition with much detail.

Shown in full with attribution under the source's licence. Licence: CC BY-SA 4.0 (Stack Exchange)

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.