Jackass Investing – by Michael Dever
Brandywine’s CEO, Michael Dever, is the author of Exploiting the Myths: Profiting from Wall Street’s misguided beliefs. Under the popular title “Jackass Investing: Don’t do it. Profit from it.”, the book stood as the #1 best-selling mutual fund and futures book on the Amazon Kindle for more than a year.
In the book Mr. Dever introduces the system of thought that serves as the foundation for the Brandywine Investment Programs. He presents “return drivers” and shows how they function as the basis for creating “trading strategies,” which are the core components necessary to produce a truly diversified portfolio. In the final chapter he shows how to achieve “true” portfolio diversification by creating a portfolio that is “balanced” across return drivers, which is the core concept underlying Brandywine’s portfolio allocation model. Brandywine’s model was developed in the late 1980s and first employed in trading the Brandywine Benchmark program in 1991. Today, elements of Brandywine’s portfolio allocation model are popularly referred to as “risk parity” investing.
One reviewer proclaims Mr. Dever’s book to be “ground-breaking,” while another calls it a “must-read for every investor.” Once you’ve read the book you’ll better understand the philosophy that underlies Brandywine’s trading and performance.
For more information about the book, please visit www.JackassInvesting.com.