Investment Skill and Portfolio Management

Abstract

Assumes that the education of valuers is generally directed towards producing professionally qualified personnel who are able to value a wide variety of properties by using standard accepted methodology. Suggests that teaching the concepts of valuation in isolation without any economic reference point is insufficient to establish whether the acquisition of any property will improve the performance of a portfolio. Concludes that the basis of education in valuation needs to change in order to address those issues that have economic relevance in a market dominated by international institutional investors.

Citation

Brown, G.R. (1993), "Investment Skill and Portfolio Management", Journal of Property Valuation and Investment, Vol. 11 No. 3, pp. 241-247. https://doi.org/10.1108/EUM0000000003305