Investment Leadership and Portfolio Management: The Path to Successful Stewardship for Investment Firms -- Contents -- Preface -- ARE WE SETTING A GOOD EXAMPLE FOR OUR CHILDREN? -- OVERVIEW OF THE BOOK -- Acknowledgments -- Chapter 1: Characteristics of Successful Asset Management Firms -- YOU CAN TAKE THE BOY OUT OF THE CULTURE, BUT YOU CAN'T TAKE THE CULTURE OUT OF THE BOY -- SIZE MATTERS, BUT NOT IN THE WAY MOST PEOPLE BELIEVE -- GOVERNANCE: THE GUARDIAN OF AN INVESTMENT-DRIVEN FIRM -- FOSTERING COLLABORATIVE FREEDOM: EVERYBODY IS A PEER -- INTEGRITY: AN UNQUESTIONABLE CHARACTERISTIC OF SUCCESS -- CONCLUSION -- Chapter 2: Building a Cathedral: A Framework for Turning the Mission into Collective Action -- A FRAMEWORK FOR EFFECTIVE LEADERSHIP AND MANAGEMENT -- ESTABLISHING AND LIVING ORGANIZATIONAL VALUES -- CREATING MISSION AND/OR INVESTMENT PHILOSOPHY STATEMENTS -- STRATEGIC GOALS AND KEY PERFORMANCE INDICATORS -- CONCLUSION -- Chapter 3: Building a Meritocracy: Understanding, Evaluating, and Rewarding Employee Contributions -- PERFORMANCE: A DEEPER DIVE -- HORIZON: THE FALLACY OF THE THREE-YEAR TRACK RECORD -- PERFORMANCE ANALYSIS: PRACTICALLY SPEAKING -- TOP-DOWN AND BOTTOM-UP APPROACH TO DETERMINING PERFORMANCE -- DESIGNING YOUR RATING SYSTEM TO HELP MAKE THE DIFFICULT DECISIONS -- WHAT DOES THE PERFORMANCE SCORE REALLY MEAN? -- CRITICALITY: A DEEPER DIVE -- MERIT ZONES: PUTTING IT ALL TOGETHER -- COMMUNICATION OF PERFORMANCE AND CRITICALITY -- VALUES AND COMPENSATION -- CONCLUSION -- Chapter 4: Investment Philosophy and Process: A Lofty Cathedral Needs a Deep Foundation -- THE IMPORTANCE OF INVESTMENT PHILOSOPHY AND PROCESS IN INVESTMENT ORGANIZATIONS -- INVESTMENT PHILOSOPHY: CORE BELIEFS -- INVESTMENT PROCESS: CONTROL AND ANARCHY -- AVOIDING THE PITFALLS OF BEHAVIORAL BIASES -- CONCLUSION.

Chapter 5: Investment Process in an Evolving World -- IMPLEMENTATION OVERVIEW: THE "HOW" OF THE INVESTMENT PROCESS -- FUNDAMENTAL VALUATION -- MARKET BEHAVIOR AND HOW IT CHALLENGES THE FUNDAMENTAL INVESTOR -- TEAM BEHAVIOR: LESSONS FOR THE CIO FROM JELLY BEANS AND FREUD -- PORTFOLIO DESIGN -- CONCLUSION -- Chapter 6: Communication for Superior Client Outcomes -- THE PROBLEM: HUMAN NATURE -- A CLASSIC TALE -- CASE 1: INDIVIDUAL INVESTORS, THE IMPACT OF PERFORMANCE CHASING -- CASE 2: ARE INSTITUTIONAL INVESTORS THE "SMART MONEY?" -- THE REALITY OF INVESTING IN EQUITIES -- THE MATHEMATICS OF RECOVERY -- DILEMMA: INVESTMENT FIRM OR DISTRIBUTION SHOP? -- THE IMPORTANCE OF CULTURE -- SALES AND MARKETING IN AN INVESTMENT FIRM -- CONCLUSION -- APPENDIX: CLIENT COMMUNICATION IN EXTREME MARKET CONDITIONS -- Chapter 7: Where are the Clients' Yachts?: Reasonable Fee Structures -- THE "GAMMA TRADE" -- ANATOMY OF A BLOWUP -- CATCH 22 -- FAULTS OF EXISTING FEE STRUCTURES -- OUR RECOMMENDATION: HIGH INTEGRITY FEE STRUCTURES -- CONCLUSION -- Chapter 8: Final Thoughts -- CHARACTERISTICS OF GREAT ASSET MANAGEMENT FIRMS -- IT STARTS WITH A SHARED MISSION AND VALUES -- TRUE MERITOCRACY -- AVOIDING THE PITFALLS -- FOR SUCCESSFUL CLIENT OUTCOMES: COMMUNICATE, COMMUNICATE, COMMUNICATE -- IT'S ALL ABOUT INCENTIVES -- INTEGRITY -- Notes -- Bibliography -- About the Authors -- ABOUT THE CONTRIBUTOR -- Index.