TY - JOUR T1 - Investment Management Is Risk Management—<em>Nothing</em> <br/> <em>More, Nothing Less</em> JF - The Journal of Wealth Management SP - 10 LP - 16 DO - 10.3905/jwm.2011.14.3.010 VL - 14 IS - 3 AU - Joachim Klement Y1 - 2011/10/31 UR - https://pm-research.com/content/14/3/10.abstract N2 - In this article, we argue that investors and investment managers are making a mistake if they try to focus on achieving high returns or high risk-adjusted returns and are likely to disappoint investors in the long run. Instead we argue that investment management should almost exclusively focus on managing the risks of an investment portfolio with above average returns being a natural outcome of a proper risk management process. We describe the most important risk management steps and why we believe this process leads to superior investment performance.TOPICS: Risk management, performance measurement ER -