Fundamental Ideas of the Financial World: Evolution
Author: Peter Bernstein
Original title: Capital Ideas Evolving
Publisher: Alpina Publisher, 2016.
ISBN 978-5-9614-5599-1
Pages: 256 pp.
Format: 70×100/16 (170x240 mm)
Weight: 550 g
Circulation: 1000 copies.
Binding: hardcover
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READ THE BOOK
- Table of Contents and Chapter 1, "Where to Take Reason..."
- Chapter 3 "Paul Samuelson (Realist Philosopher)," Chapter 4 "Robert Merton ("Risk Is Not an Add-on")," Chapter 5 "Andrew Lo ("The Only Part of Economics That Really Works")," Chapter 6 "Robert Schiller (The People's Risk Manager)"
A book about the evolution of the world of finance in the minds of economists
Markets cannot be deprived of their amazing vitality - even in communist countries this has been understood.
Peter Bernstein
About the book "The Fundamental Ideas of the Financial World: Evolution"
The book is almost entirely devoted to the practical application of theoretical developments, the transformation of their form and content in connection with technical progress.
The works of Harry Markowitz and Eugene Faim, the revolutionary views of Franco Modigliani and Merton Miller, the theories of Fisher Black, Myron Scholes and Robert Merton appeared in the 1950s and 1970s, but they were not recognized by practitioners for a long time. Nowadays it is hard to imagine the world of finance without them. They radically changed the nature of financial markets, investment strategies, led to the emergence of new financial instruments. The author analyzes the process of development of the fundamental ideas of financial theory and their influence on the practice of the modern investment world.
Why The Fundamental Ideas of the Financial World: Evolution is worth reading
- Any decision inevitably involves uncertainty: risk management as an important factor in the development of the modern world.
- The boundaries between finance theorists and practitioners. What separates them today?
- Fundamental ideas in the mouths of famous scientists: revolutionary views, interpretations of financial hypotheses, etc.
- The world is in a state of constant change and imbalance. How do you create innovative products while believing in better times?
This is a book for students and teachers of economic universities, financiers and a wide range of readers interested in the application of financial theory in practice.
The boundaries of financial theory and practice will always be blurred, but that is my opinion of the book and the thoughts it inspires.
The world of finance today is constantly changing, so you can't do without fresh fundamental ideas from the financial world.