A critique of RP that is really a critique of a RP Strawman invented by the author. Also makes an empirical case against RP using a backtest, but data since publication proves the opposite point. After reading this, I’m still on the lookout for effective critiques of RP.
Not exactly RP, but adjacent to it. This is an industry white paper about one way to use leveraged funds to free up space in the portfolios to make them more balanced. Authors are influenced by Risk Parity principles, and provide ideas for implementation, even though they call it something else.
An explanation of Risk Parity that never utters the words “Risk Parity.” A bit dated and a bit too tied to the simplicity aspect of the portfolio, this book nevertheless clearly conveys the principles behind risk-balanced portfolios, even if it departs on some of the details.
You might think this book would be all about RP, written by its creator, and offering the secrets behind his All Weather portfolio at Bridgewater Associates. Actually, more his philosophical musings about life, work, success, and ideas. Not crucial for understanding RP - don't hesitate to skip!
Criticism of Risk Parity portfolios and philosophy from the perspective of a value-tilted, traditional asset allocation perspective. Worth reading to get a sense of how RP is viewed, and to see if Inker’s criticisms are valid.