Peter L. Bernstein 
Capital Ideas Evolving [EPUB ebook] 

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‘A lot has happened in the financial markets since 1992, when Peter Bernstein wrote his seminal Capital Ideas. Happily, Peter has takenup his facile pen again to describe these changes, a virtualrevolution in the practice of investing that relies heavily oncomplex mathematics, derivatives, hedging, and hyperactive trading.This fine and eminently readable book is unlikely to be surpassedas the definitive chronicle of a truly historic era.’
–John C. Bogle, founder of The Vanguard Group andauthor, The Little Book of Common Sense Investing
‘Just as Dante could not have understood or survived the perils ofthe 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; thankgoodness he did.’
–Jason Zweig, Investing Columnist, Moneymagazine
‘Another must-read from Peter Bernstein! This well-written andthought-provoking book provides valuable insights on how keyfinance theories have evolved from their ivory tower formulation toprofitable application by portfolio managers. This book willcertainly 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, andmember of the faculty of the Harvard Business School
‘Reading Capital Ideas Evolving is an experience not to bemissed. Peter Bernstein’s knowledge of the principal characters-thegiants in the development of investment theory and practice-bringsthis subject to life.’
–Linda B. Strumpf, Vice President and Chief Investment Officer, The Ford Foundation
‘With great clarity, Peter Bernstein introduces us to the insightsof investment giants, and explains how they transformed financialtheory into portfolio practice. This is not just a tale of moneyand models; it is a fascinating and contemporary story about peopleand the power of their ideas.’
–Elroy Dimson, BGI Professor of Investment Management, London Business School
‘Capital Ideas Evolving provides us with a uniqueappreciation for the pervasive impact that the theory of modernfinance has had on the development of our capital markets. Peter Bernstein once again has produced a masterpiece that is mustreading for practitioners, educators and students offinance.’
–André F. Perold, Professor of Finance, Harvard Business School

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Table des matières

Preface.
A Note on Usage.
PART I: THE BEHAVIORAL ATTACK.
1. Who Could Design a Brain . . . .
2. The Strange Paradox of Behavioral Finance:’Neoclassical Theory Is a Theory of Sharks’,
PART II: THE THEORETICIANS,
3. Paul A. Samuelson: The Worldly Philosopher.
The Institutionalists.
4. Robert C. Merton: ‘Risk Is Not an Add-On’.
5. Andrew Lo: ‘The Only Part of Economics That Really Works’.
6. Robert Shiller: The People’s Risk Manager.
The Engineers.
7. Bill Sharpe: ‘It’s Dangerous to Think of Risk asa Number’.
8. Harry Markowitz: ‘You Have a Little World’.
9. Myron Scholes: ‘Omega Has a Nice Ring to It’.
PART III: THE PRACTITIONERS.
10. Barclays Global Investors: ‘It Was an Evangelical Undertaking’.
11. The Yale Endowment Fund: Uninstitutional Behavior.
12. CAPM II: The Great Alpha Dream Machine: We Don’t See Expected Returns.
13. Making Alpha Portable: ‘That’s Become the New Mantra’.
14. Martin Leibowitz: CAPM in a New Suit of Clothes.
15. Goldman Sachs Asset Management: ‘I Know the Invisible Hand Is Still There’.
PART IV: CAPITAL IDEAS TOMORROW.
16. Nothing Stands Still.
Notes.
Bibliography.
Acknowledgments.
Index.

A propos de l’auteur

Peter L. Bernstein is President of Peter L. Bernstein, Inc., an investment con-sultant firm he founded in 1973, after many years of managing billions of dollars in individual and institutional portfolios. Bernstein is also the author of ten books on economics and finance, including the bestselling Capital Ideas, Against the Gods: The Remarkable Story of Risk, and The Power of Gold: The History of an Obsession. He has lectured widely throughout the United States and abroad, and has received the highest honors from his peers in the investment profession.

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Langue Anglais ● Format EPUB ● Pages 304 ● ISBN 9781118046203 ● Taille du fichier 1.1 MB ● Maison d’édition John Wiley & Sons ● Publié 2011 ● Édition 1 ● Téléchargeable 24 mois ● Devise EUR ● ID 2351784 ● Protection contre la copie Adobe DRM
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