Free Kindle Tax-Aware Investment Management: The Essential Guide ebooks Download
Investment returns are uncertain, especially in today’s economic environment. But taxes are a sure thing. That's one reason why tax-aware investment management is essential for building and maintaining wealth. In this comprehensive, groundbreaking book, Douglas S. Rogers, CFA, explains why many accepted investment strategies and techniques developed for tax-exempt institutional investors don't work for individuals who are subject to taxes. They will end up with substantially lower after-tax returns simply because their portfolios are not structured or managed with tax obligations in mind. This book shows: How to measure and compare the tax-efficiency of mutual funds, hedge funds, and individual investment managers How the widely used style-box matrix can prove detrimental to after-tax investment returns How to minimize taxes on stock-and-bond portfolios and employ sophisticated strategies for offsetting gains against losses How to decide which asset categories should be placed in tax-deferred accounts such as IRAs and which should be placed in regular taxable accounts How to incorporate tax-aware techniques and insights into all facets of investment planning, portfolio management, and estate planning
Hardcover: 301 pages
Publisher: Bloomberg Press; 1 edition (January 1, 2006)
Language: English
ISBN-10: 1576601803
ISBN-13: 978-1576601808
Product Dimensions: 6.5 x 1 x 9.6 inches
Shipping Weight: 1.5 pounds (View shipping rates and policies)
Average Customer Review: 5.0 out of 5 stars See all reviews (3 customer reviews)
Best Sellers Rank: #1,450,365 in Books (See Top 100 in Books) #76 in Books > Business & Money > Taxation > Corporate #1151 in Books > Textbooks > Business & Finance > Investments & Securities #1935 in Books > Business & Money > Finance > Corporate Finance
This book could/should be used as a handbook for investment professionals considering tax aware investing. Doug has compiled years of research, insight and practice into a concise "manual" to shed some light on this complicated,and ever-changing aspect of investment management. Billions of dollars are needlessly lost each year from investors' portfolios because investment professionals fail to consider the impact of taxes when constructing and managing investment portfolios.The book is very well written and organized. Hopefully, more people will realize the importance of taxes on portfolio performance and be drawn to firm's who can add value by having the knowledge and the ability to "play the game". This is especially true in a low return environment where the tax burden can have a meaningful impact in overall returns.
One of the most important and distinguishing characteristics of investing for wealthy individuals involves the impact and complexity resulting from taxes. Doug Roger's book, Tax-Aware Investment Management - The Essential Guide, should be the instruction manual of choice for those interested in minimizing tax drag for themselves or their clients. As an investment advisor / planner, one focused upon tax-aware best practices, I support Doug's work and have designed elements of it into my philosophy as well.Unparalleled government deficit spending and budget shortfalls at all levels of government will require higher tax revenues and unfortunately, high wage earners and the wealthy are certain to be impacted disproportionately. Thoughtful, tax-aware planning and administration by tax, estate and investment counsel is essential and will no doubt grow in importance as the value-add (as much as 2 or 3 percent annually) of this discipline becomes known. I am convinced that better investment advisors will embrace his proven practices and concepts over the next few years. Tax-aware investment management should be an essential part of a serious investment advisor's disciplined process and Doug's book is the best guide I know of.
I have yet to meet a prudent investor that thinks the government would do a better job of spending the money that the investor has accumulated, than they would do spending it themselves.Doug Rogers' Tax-Aware Investment Management guide is timely. Doug gives you questions to ask your advisor. He provides a historical prospective while injecting humor. Doug even synthesizes the implications of taxation on investment results in a readable fashion.Wall Street serves institutions (they live in world of relative "better than the benchmark or at least awfully darn close to it so they can keep their job" performance evaluation.Private clients are often sold what institutions bought 5 or 10 years ago. The individual investor's best interests would be better served by thinking about this topic before, during and after they invest. You can only spend what you have after tax, after fee. I suggest you invest some time in thinking about the wisdom that Doug shares.
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