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Philip Grant, "Chains of Finance: How Investment Management is Shaped" (Oxford UP, 2017)
The authors of Chains of Finance: How Investment Management is Shaped (Oxford University Press, 2017) make points that professionals already know and that end-investors ought to know: that there are a lot of cooks in the investment kitchen, and that the investment process is materially shaped by the chain of individuals and institutions that go into manufacturing investment products. Advisors, consultants, compliance, sales, portfolio managers, analysts, traders, distributors, custodians---these job titles are just part of that machinery. And they all interact with one another in a variety of…
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