Summary Of Justin Fox S The Myth Of The Rational Market
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Summary Of Justin Fox S The Myth Of The Rational Market
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Author : Everest Media
language : en
Publisher: Everest Media LLC
Release Date : 2022-03-01T21:00:00Z
Summary Of Justin Fox S The Myth Of The Rational Market written by Everest Media and has been published by Everest Media LLC this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-01T21:00:00Z with Business & Economics categories.
Please note: This is a companion version & not the original book. Sample Book Insights: #1 After the theft of his manuscript, Yale University economics professor Irving Fisher went right back to work. He had a habit of overcoming setbacks that might cause a lesser person to despair. His ideas began to have an impact in his lifetime, and after his death, they took off. #2 The idea that the stock market is a place of pure rationality was first put forward by Irving Fisher in the 1920s. However, this idea was not unique to him. In Paris, mathematics student Louis Bachelier studied the price fluctuations on the Paris Bourse in a similar spirit. #3 Bachelier used the assumptions of the bell curve to depict price movements on the Paris exchange. He began with the insight that the mathematical expectation of the speculator is zero, and that price changes in an instant are unpredictable in direction but predictably small. #4 When he died in 1946, one year before Irving Fisher, no one on the trading floor was making use of his ideas. His colleagues were nonplussed by his interest in markets.
The Myth Of The Rational Market
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Author : Justin Fox
language : en
Publisher: Harper Collins
Release Date : 2009-06-02
The Myth Of The Rational Market written by Justin Fox and has been published by Harper Collins this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-02 with Business & Economics categories.
“Do we really need yet another book about the financial crisis? Yes, we do—because this one is different….A must-read for anyone who wants to understand the mess we’re in.” —Paul Krugman, New York Times Book Review “Fox makes business history thrilling.” —St. Louis Post-Dispatch A lively history of ideas, The Myth of the Rational Market by former Time Magazine economics columnist Justin Fox, describes with insight and wit the rise and fall of the world’s most influential investing idea: the efficient markets theory. Both a New York Times bestseller and Notable Book of the Year—longlisted for the Financial Times Business Book of the Year Award and named one of Library Journal Best Business Books of the Year—The Myth of the Rational Market carries readers from the earliest days of Wall Street to the current financial crisis, debunking the long-held myth that the stock market is always right in the process while intelligently exploring the replacement theory of behavioral economics.
The Myth Of The Rational Market
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Author : Justin Fox
language : en
Publisher: Harriman House
Release Date : 2013-10
The Myth Of The Rational Market written by Justin Fox and has been published by Harriman House this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10 with Business & Economics categories.
Chronicling the rise and fall of the efficient market theory and the century-long making of the modern financial industry, Justin Fox's "The Myth of the Rational Market" is as much an intellectual whodunit as a cultural history of the perils and possibilities of risk. The book brings to life the people and ideas that forged modern finance and investing, from the formative days of Wall Street through the Great Depression and into the financial calamity of today. It's a tale that features professors who made and lost fortunes, battled fiercely over ideas, beat the house in blackjack, wrote bestselling books, and played major roles on the world stage. It's also a tale of Wall Street's evolution, the power of the market to generate wealth and wreak havoc, and free market capitalism's war with itself. The efficient market hypothesis - long part of academic folklore but codified in the 1960s at the University of Chicago - has evolved into a powerful myth. It has been the maker and loser of fortunes, the driver of trillions of dollars, the inspiration for index funds and vast new derivatives markets, and the guidepost for thousands of careers. The theory holds that the market is always right, and that the decisions of millions of rational investors, all acting on information to outsmart one another, always provide the best judge of a stock's value. That myth is crumbling. Celebrated journalist and columnist Fox introduces a new wave of economists and scholars who no longer teach that investors are rational or that the markets are always right. Many of them now agree with Yale professor Robert Shiller that the efficient markets theory "represents one of the most remarkable errors in the history of economic thought." Today the theory has given way to counterintuitive hypotheses about human behavior, psychological models of decision making, and the irrationality of the markets. Investors overreact, underreact, and make irrational decisions based on imperfect data. In his landmark treatment of the history of the world's markets, Fox uncovers the new ideas that may come to drive the market in the century ahead.
Myth Of The Rational Market
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Author : Justin Fox
language : en
Publisher:
Release Date : 2010
Myth Of The Rational Market written by Justin Fox and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
The Man Who Knew
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Author : Sebastian Mallaby
language : en
Publisher: Bloomsbury Publishing
Release Date : 2016-10-20
The Man Who Knew written by Sebastian Mallaby and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-10-20 with Biography & Autobiography categories.
WINNER OF THE 2016 FT & McKINSEY BUSINESS BOOK OF THE YEAR AWARD, this is the biography of one of the titans of financial history over the last fifty years. Born in 1926, Alan Greenspan was raised in Manhattan by a single mother and immigrant grandparents during the Great Depression but by quiet force of intellect, rose to become a global financial 'maestro'. Appointed by Ronald Reagan to Chairman of the Federal Reserve, a post he held for eighteen years, he presided over an unprecedented period of stability and low inflation, was revered by economists, adored by investors and consulted by leaders from Beijing to Frankfurt. Both data-hound and eligible society bachelor, Greenspan was a man of contradictions. His great success was to prove the very idea he, an advocate of the Gold standard, doubted: that the discretionary judgements of a money-printing central bank could stabilise an economy. He resigned in 2006, having overseen tumultuous changes in the world's most powerful economy. Yet when the great crash happened only two years later many blamed him, even though he had warned early on of irrational exuberance in the market place. Sebastian Mallaby brilliantly shows the subtlety and complexity of Alan Greenspan's legacy. Full of beautifully rendered high-octane political infighting, hard hitting dialogue and stories, The Man Who Knew is superbly researched, enormously gripping and the story of the making of modern finance.
The End Of The Free Market
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Author : Ian Bremmer
language : en
Publisher: Penguin
Release Date : 2010-05-13
The End Of The Free Market written by Ian Bremmer and has been published by Penguin this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-05-13 with Business & Economics categories.
Understanding the rise of state capitalism and its threat to global free markets The End of the Free Market details the growing phenomenon of state capitalism, a system in which governments drive local economies through ownership of market-dominant companies and large pools of excess capital, using them for political gain. This trend threatens America's competitive edge and the conduct of free markets everywhere. An expert on the intersection of economics and politics, Ian Bremmer has followed the rise of state-owned firms in China, Russia, the Arab states of the Persian Gulf, Iran, Venezuela, and elsewhere. He demonstrates the growing challenge that state capitalism will pose for the entire global economy. Among the questions addressed: Are we on the brink of a new kind of Cold War, one that pits competing economic systems in a battle for dominance? Can free market countries compete with state capitalist powerhouses over relations with countries that have elements of both systems-like India, Brazil, and Mexico? Does state capitalism have staying power? This guide to the next big global economic trend includes useful insights for investors, business leaders, policymakers, and anyone who wants to understand important emerging changes in international politics and the global economy.
Hedgehogging
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Author : Barton Biggs
language : en
Publisher: John Wiley & Sons
Release Date : 2011-01-11
Hedgehogging written by Barton Biggs and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-11 with Business & Economics categories.
Rare is the opportunity to chat with a legendary financial figure and hear the unvarnished truth about what really goes on behind the scenes. Hedgehogging represents just such an opportunity, allowing you to step inside the world of Wall Street with Barton Biggs as he discusses investing in general, hedge funds in particular, and how he has learned to find and profit from the best moneymaking opportunities in an eat-what-you-kill, cutthroat investment world.
Capital Ideas Evolving
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Author : Peter L. Bernstein
language : en
Publisher: Wiley + ORM
Release Date : 2011-01-31
Capital Ideas Evolving written by Peter L. Bernstein and has been published by Wiley + ORM this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-31 with Business & Economics categories.
"A lot has happened in the financial markets since 1992, when Peter Bernstein wrote his seminal Capital Ideas. Happily, Peter has taken up his facile pen again to describe these changes, a virtual revolution in the practice of investing that relies heavily on complex mathematics, derivatives, hedging, and hyperactive trading. This fine and eminently readable book is unlikely to be surpassed as the definitive chronicle of a truly historic era." John C. Bogle, founder of The Vanguard Group and author, The Little Book of Common Sense Investing "Just as Dante could not have understood or survived the perils of the Inferno without Virgil to guide him, investors today need Peter Bernstein to help find their way across dark and shifting ground. No one alive understands Wall Street's intellectual history better, and that makes Bernstein our best and wisest guide to the future. He is the only person who could have written this book; thank goodness he did." Jason Zweig, Investing Columnist, Money magazine "Another must-read from Peter Bernstein! This well-written and thought-provoking book provides valuable insights on how key finance theories have evolved from their ivory tower formulation to profitable application by portfolio managers. This book will certainly be read with keen interest by, and undoubtedly influence, a wide range of participants in international finance." Dr. Mohamed A. El-Erian, President and CEO of Harvard Management Company, Deputy Treasurer of Harvard University, and member of the faculty of the Harvard Business School "Reading Capital Ideas Evolving is an experience not to be missed. Peter Bernstein's knowledge of the principal characters-the giants in the development of investment theory and practice-brings this subject to life." Linda B. Strumpf, Vice President and Chief Investment Officer, The Ford Foundation "With great clarity, Peter Bernstein introduces us to the insights of investment giants, and explains how they transformed financial theory into portfolio practice. This is not just a tale of money and models; it is a fascinating and contemporary story about people and the power of their ideas." Elroy Dimson, BGI Professor of Investment Management, London Business School "Capital Ideas Evolving provides us with a unique appreciation for the pervasive impact that the theory of modern finance has had on the development of our capital markets. Peter Bernstein once again has produced a masterpiece that is must reading for practitioners, educators and students of finance." Andr F. Perold, Professor of Finance, Harvard Business School
Unexpected Returns
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Author : Ed Easterling
language : en
Publisher:
Release Date : 2005
Unexpected Returns written by Ed Easterling and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
Before you read any how-to investment books or seek financial advice, read Unexpected Returns, the essential resource for investors and investment professionals who want to understand how and why the financial markets are not the same now as they were in the 1980s and 1990s. In addition to explaining the fundamentals, this book takes you on a graphic journey through the seasons of the market, tying together economics and finance to explain the stock market's cycles. Using comprehensive full-color charts and graphs, it offers an in-depth exploration of what has changed over the past five years - and what you can do about it to avoid disappointment with your investments. This unique combination of investment science and investment art will enable you to differentiate between irrational hope and a rational view of the current financial markets. Based on years of meticulous research, it provides the sensible conclusions that will drive your future investment choices and give you the confidence to rely on your investment outlook, whatever your financial strategy. Book jacket.
Capital In The Twenty First Century
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Author : Thomas Piketty
language : en
Publisher: Harvard University Press
Release Date : 2017-08-14
Capital In The Twenty First Century written by Thomas Piketty and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-14 with Business & Economics categories.
What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In this work the author analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.