The pillars of finance: the misalignment of finance theory and investment practice
"In The Pillars of Finance, author and finance expert Guy Fraser-Sampson challenges the fundamental conventions of modern finance. He asserts that, at its core, finance is not the highly scientific, modern discipline that most would claim, but has in fact stood still for the past 50 years. Cent...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Abschlussarbeit Buch |
| Sprache: | English |
| Veröffentlicht: |
Basingstoke, Hampshire [u.a.]
Palgrave Macmillan
2014
|
| Ausgabe: | 1. publ. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Zusammenfassung: | "In The Pillars of Finance, author and finance expert Guy Fraser-Sampson challenges the fundamental conventions of modern finance. He asserts that, at its core, finance is not the highly scientific, modern discipline that most would claim, but has in fact stood still for the past 50 years. Central to the book are the main pillars of the financial markets - risk, return, and value - pillars of financial practice that are not properly understood by the industry, as began to become clear in 2007. Instead, the industry is blinded by a quantitative maze, obsessed with mathematical solutions, stochastic models, and normal distributions, which, although they have a place, should not provide the bedrock of the global marketplace. The author also looks at the industry's overreliance on past performance. Historical data is the foundation of financial forecasting and derivatives pricing, and while much can be gleaned from the past, it cannot and should not be seen as a mirror of the future. Finally, the author provides solutions to these issues, which include the need for the industry to undergo a transformation similar to that which occurred in the Modernist movement in other fields. He argues for a return to more qualitative and informed approaches to finance, bringing back intuition, skill, responsibility, and competency. Drawing from many fields of knowledge, including philosophy, psychology, and history, he encourages readers to question everything, rather than tamely accepting conventional wisdom. The Pillars of Finance is a lively and provocative read, challenging some of the core beliefs of modern finance. It will spark fierce debate and prove a popular read for anyone interested in modern finance. "-- |
| Beschreibung: | Machine generated contents note: -- 1. Introductory Chapter2. Do we Approach Finance Scientifically?3. Logic and Emotion4. Objectivity and Subjectivity in Finance5. Problems with Thinking, Feeling and Perceiving Finance6. Return7. Risk8. Value9. The Need for a New Approach10. Accepting Lack of Knowledge and Understanding11. Modernist Finance12. The Modernist Investor |
| Beschreibung: | 260 S. 23 cm |
| ISBN: | 9781137264053 |
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| 520 | |a "In The Pillars of Finance, author and finance expert Guy Fraser-Sampson challenges the fundamental conventions of modern finance. He asserts that, at its core, finance is not the highly scientific, modern discipline that most would claim, but has in fact stood still for the past 50 years. Central to the book are the main pillars of the financial markets - risk, return, and value - pillars of financial practice that are not properly understood by the industry, as began to become clear in 2007. Instead, the industry is blinded by a quantitative maze, obsessed with mathematical solutions, stochastic models, and normal distributions, which, although they have a place, should not provide the bedrock of the global marketplace. The author also looks at the industry's overreliance on past performance. Historical data is the foundation of financial forecasting and derivatives pricing, and while much can be gleaned from the past, it cannot and should not be seen as a mirror of the future. Finally, the author provides solutions to these issues, which include the need for the industry to undergo a transformation similar to that which occurred in the Modernist movement in other fields. He argues for a return to more qualitative and informed approaches to finance, bringing back intuition, skill, responsibility, and competency. Drawing from many fields of knowledge, including philosophy, psychology, and history, he encourages readers to question everything, rather than tamely accepting conventional wisdom. The Pillars of Finance is a lively and provocative read, challenging some of the core beliefs of modern finance. It will spark fierce debate and prove a popular read for anyone interested in modern finance. "-- | ||
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Datensatz im Suchindex
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| adam_text | Titel: The pillars of finance
Autor: Fraser-Sampson, Guy
Jahr: 2014
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Contents
Acknowledgements
Introduction
The ultimate question
A game of chance
And yet it moves
Finance and its supporting pillars
Periodic return
Further reflections of return
Thoughts on risk (pre-War) and the influence
of logical positivism
Thoughts on risk (post-War): theory becomes dogma
Things fall apart
Risk and subjectivity
The shock of the new
Finance and science
It s all in the mind, you know
Personality, behaviour, and decision making
The angel of history
A new approach
What will New Finance look like?
|
| any_adam_object | 1 |
| author | Fraser-Sampson, Guy |
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| ctrlnum | (OCoLC)896359998 (DE-599)BVBBV041913267 |
| discipline | Wirtschaftswissenschaften |
| edition | 1. publ. |
| format | Thesis Book |
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| spelling | Fraser-Sampson, Guy Verfasser (DE-588)1053354959 aut The pillars of finance the misalignment of finance theory and investment practice Guy Fraser-Sampson 1. publ. Basingstoke, Hampshire [u.a.] Palgrave Macmillan 2014 260 S. 23 cm txt rdacontent n rdamedia nc rdacarrier Machine generated contents note: -- 1. Introductory Chapter2. Do we Approach Finance Scientifically?3. Logic and Emotion4. Objectivity and Subjectivity in Finance5. Problems with Thinking, Feeling and Perceiving Finance6. Return7. Risk8. Value9. The Need for a New Approach10. Accepting Lack of Knowledge and Understanding11. Modernist Finance12. The Modernist Investor Teilw. zugl.: London, Cass Business School, Diss. "In The Pillars of Finance, author and finance expert Guy Fraser-Sampson challenges the fundamental conventions of modern finance. He asserts that, at its core, finance is not the highly scientific, modern discipline that most would claim, but has in fact stood still for the past 50 years. Central to the book are the main pillars of the financial markets - risk, return, and value - pillars of financial practice that are not properly understood by the industry, as began to become clear in 2007. Instead, the industry is blinded by a quantitative maze, obsessed with mathematical solutions, stochastic models, and normal distributions, which, although they have a place, should not provide the bedrock of the global marketplace. The author also looks at the industry's overreliance on past performance. Historical data is the foundation of financial forecasting and derivatives pricing, and while much can be gleaned from the past, it cannot and should not be seen as a mirror of the future. Finally, the author provides solutions to these issues, which include the need for the industry to undergo a transformation similar to that which occurred in the Modernist movement in other fields. He argues for a return to more qualitative and informed approaches to finance, bringing back intuition, skill, responsibility, and competency. Drawing from many fields of knowledge, including philosophy, psychology, and history, he encourages readers to question everything, rather than tamely accepting conventional wisdom. The Pillars of Finance is a lively and provocative read, challenging some of the core beliefs of modern finance. It will spark fierce debate and prove a popular read for anyone interested in modern finance. "-- BUSINESS & ECONOMICS / Economic History bisacsh BUSINESS & ECONOMICS / Finance bisacsh Finance Investment analysis Wirtschaft Theorie (DE-588)4059787-8 gnd rswk-swf Investition (DE-588)4027556-5 gnd rswk-swf Prognose (DE-588)4047390-9 gnd rswk-swf Risiko (DE-588)4050129-2 gnd rswk-swf Kreditmarkt (DE-588)4073788-3 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Kreditmarkt (DE-588)4073788-3 s Investition (DE-588)4027556-5 s Risiko (DE-588)4050129-2 s Theorie (DE-588)4059787-8 s Prognose (DE-588)4047390-9 s b DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027356933&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Fraser-Sampson, Guy The pillars of finance the misalignment of finance theory and investment practice BUSINESS & ECONOMICS / Economic History bisacsh BUSINESS & ECONOMICS / Finance bisacsh Finance Investment analysis Wirtschaft Theorie (DE-588)4059787-8 gnd Investition (DE-588)4027556-5 gnd Prognose (DE-588)4047390-9 gnd Risiko (DE-588)4050129-2 gnd Kreditmarkt (DE-588)4073788-3 gnd |
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| title | The pillars of finance the misalignment of finance theory and investment practice |
| title_auth | The pillars of finance the misalignment of finance theory and investment practice |
| title_exact_search | The pillars of finance the misalignment of finance theory and investment practice |
| title_full | The pillars of finance the misalignment of finance theory and investment practice Guy Fraser-Sampson |
| title_fullStr | The pillars of finance the misalignment of finance theory and investment practice Guy Fraser-Sampson |
| title_full_unstemmed | The pillars of finance the misalignment of finance theory and investment practice Guy Fraser-Sampson |
| title_short | The pillars of finance |
| title_sort | the pillars of finance the misalignment of finance theory and investment practice |
| title_sub | the misalignment of finance theory and investment practice |
| topic | BUSINESS & ECONOMICS / Economic History bisacsh BUSINESS & ECONOMICS / Finance bisacsh Finance Investment analysis Wirtschaft Theorie (DE-588)4059787-8 gnd Investition (DE-588)4027556-5 gnd Prognose (DE-588)4047390-9 gnd Risiko (DE-588)4050129-2 gnd Kreditmarkt (DE-588)4073788-3 gnd |
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