ABSTRACT
Introduction .................................................................................................................................... 518 Part I: The IPS for Individual Physician Investors ......................................................................... 518
The Basics ................................................................................................................................. 518 Statement of Purpose ............................................................................................................ 519 Statement of Responsibilities ............................................................................................... 519 Investment Goals and Objectives ......................................................................................... 519 Asset Mix Guidelines ........................................................................................................... 521 Investment Performance Review and Evaluation ................................................................. 522 Communications ................................................................................................................... 522
Qualified Retirement Plans ....................................................................................................... 524 Managing Your Own Portfolio .................................................................................................. 525
Why Average Investors Fail to Keep Up with the Markets .................................................. 525 Whither ME, Inc., and Self-Portfolio Management ............................................................. 526
Part II: The IPS for Healthcare Organizations ............................................................................... 526 Sample Hospital Endowment Fund IPS .................................................................................... 526
Goals and Objectives ............................................................................................................ 526 Investment Policies and Procedures .......................................................................................... 527
Investment Program Policy .................................................................................................. 527 Investment Management Policies and Procedures .................................................................... 528
Equity Securities .................................................................................................................. 528 Fixed Income Securities ....................................................................................................... 528 Cash and Equivalents ........................................................................................................... 529 Other Securities .................................................................................................................... 529 Restrictions ........................................................................................................................... 530
Other Considerations ................................................................................................................. 531 Trading Guidelines ............................................................................................................... 531 Proxy Voting ......................................................................................................................... 531 Performance Review and Evaluation ................................................................................... 531
Conclusion ..................................................................................................................................... 531
To create and monitor an investment portfolio for personal or institutional use, the physician executive, financial advisor, wealth manager, or healthcare institutional endowment fund manager should ask three questions:
1. How much have we invested? 2. How much did we make on our investments? 3. How much risk did we take to get that rate of return?
