AN OVERVIEW OF THE INVESTMENT POLICY STATEMENT One of the most
important and overlooked principles of investments is the
construction of an investment policy statement. Although most
investment textbooks do an adequate job of teaching such
traditional topics as financial statement analysis, valuation and
market efficiency, only a handful of texts cover investment policy
[Reilly and Norton,1999] or [Strong, 2006]. The topic of investment
policy is considered so important to the CFA Institute that
numerous readings on this subject are included...