Choosing Rigorous Texts for Portfolio Theory and Management
Summary
The discussion distinguishes introductory portfolio theory from the more advanced subject of portfolio management. It recommends several books associated with portfolio management, while noting that these may be too advanced for a student whose course begins with introductory portfolio theory. For that level, it points to a standard textbook covering modern portfolio theory and investment analysis.
The recommendations are contextual rather than a detailed curriculum: the questioner has a mathematics and operations research background but little exposure to finance, and would prefer rigorous materials with exercises and solutions. The replies do not assess the suggested books individually, list specific courses, or confirm which resources include solved exercises. The distinction between course labels is presented as one respondent’s view of the lecture topics, and suitability will depend on the actual syllabus and the student’s needs.
Key ideas
- Introductory portfolio theory and portfolio management are presented as different levels of study.
- Books aimed at portfolio management may be too advanced for an introductory portfolio theory course.
- A text on modern portfolio theory and investment analysis is suggested for foundational study.
- The recommendations do not establish which books offer exercises with solutions.
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Full text
# Book recommendation on portfolio managment # Book recommendation on portfolio managment I have a BSc degree in pure mathematics and i am graduate student in Operations research. I will have a course on "portfolio management". I am looking for some book/lecture notes/online course recommendations on the subject, if possible with exercises & solutions. (I came from a math background so i prefer rigorous materials) (here is the content of the first 5 lectures); i have no idea about finance, economy or portfolio management. Thank you. ## Answer by madilyn (score 2) https://quant.stackexchange.com/a/43829 These are probably most commonly used: - Chincarini and Kim - Grinold - Qian and Hua - Some subset of Bouchaud and Potters and Carol Alexander's risk books. As for courses, it's harder to recommend as that's more open-ended. ## Answer by Alex C (score 1) https://quant.stackexchange.com/a/43832 Although you describe your class as Portfolio Management, the content of the first 5 lectures you linked to would generally be part of a first introductory course in Portfolio Theory in a US university (in my opinion). Portfolio Management would be a second, more advanced course, with additional theory but also additional industry and practical considerations. The books mentioned by madylin are very good for Portfolio Management but they might be too advanced for your class. In the CFA program Portfolio Theory is in level 1 and Portfolio Management is in Level 3. A common textbook for Portfolio Theory would be Elton, Gruber, et al: Modern Portfolio Theory and Investment Analysis.
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