Pandora’s Risk: Uncertainty at the Core of Finance (Columbia Business School Publishing) - Tapa dura

Osband, Kent

 
9780231151726: Pandora’s Risk: Uncertainty at the Core of Finance (Columbia Business School Publishing)
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ISBN 10: 0231151721 ISBN 13: 9780231151726
Editorial: Columbia University Press, 2011

Sinopsis

Author of the acclaimed work Iceberg Risk: An Adventure in Portfolio Theory, Kent Osband argues that uncertainty is central rather than marginal to finance. Markets don't trade mainly on changes in risk. They trade on changes in beliefs about risk, and in the process, markets unite, stretch, and occasionally defy beliefs. Recognizing this truth would make a world of difference in investing. Belittling uncertainty has created a rift between financial theory and practice and within finance theory itself, misguiding regulation and stoking huge financial imbalances. Sparking a revolution in the mindset of the investment professional, Osband recasts the market as a learning machine rather than a knowledge machine. The market continually errs, corrects itself, and makes new errors. Respecting that process, without idolizing it, will promote wiser investment, trading, and regulation. With uncertainty embedded at its core, Osband's rational approach points to a finance theory worthy of twenty-first-century investing.

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Acerca del autor

Kent Osband has worked for twenty-five years as a strategist/economist for major investment firms, international financial institutions, and think tanks. He holds a B.A. magna cum laude from Harvard University and a Ph.D. in economics from the University of California, Berkeley, and has taught at Harvard and at the University of California, Los Angeles. He is the author of Iceberg Risk: An Adventure in Portfolio Theory.

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Editorial
Columbia University Press
Año de publicación
2011
Idioma
Inglés
ISBN 10 
0231151721
ISBN 13 
9780231151726
Encuadernación
Tapa dura
Número de páginas
304
Contacto del fabricante
no disponible
Persona responsable
no disponible

Otras ediciones populares con el mismo título

9780231151733: Pandora’s Risk: Uncertainty at the Core of Finance

Edición Destacada

ISBN 10:  023115173X ISBN 13:  9780231151733
Editorial: Columbia University Press, 2014
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