Risk-Return Analysis: The Theory and Practice of Rational Investing (Volume One) (Business Books)

3.67 avg rating
( 6 ratings by Goodreads )
 
9780071817936: Risk-Return Analysis: The Theory and Practice of Rational Investing (Volume One) (Business Books)

The two most important words Harry Markowitz ever wrote are "portfolio selection." In 1952, when everyone in the stock market was looking for the next hot stock, as a doctoral candidate, he proposed to look at many, diverse stocks--a portfolio. He laid the first cornerstone of Modern Portfolio Theory and defended the idea that strategic asset growth means factoring in the risk of an investment. More than 60 years later, the father of modern finance revisits his original masterpiece, describes how his theory has developed, and proves the vitality of his risk-return analysis in the current global economy.

Risk-Return Analysis opens the door to a groundbreaking four-book series giving readers a privileged look at the personal reflections and current strategies of a luminary in finance. This first volume is Markowitz's response to what he calls the "Great Confusion" that spread when investors lost faith in the diversification benefits of MPT during the financial crisis of 2008. It demonstrates why MPT never became ineffective during the crisis, and how you can continue to reap the rewards of managed diversification into the future. Economists and financial advisors will benefit from the potent balance of theory and hard data on mean-variance analysis aimed at improving decision-making skills. Written for the academic and the practitioner with some math skills (mostly high school algebra), this richly illustrated guide arms you with:

  • Concrete steps to accurately select and apply the right risk measures in a given circumstance
  • Rare surveys of a half-century of literature covering the applicability of MPT
  • Empirical data showing mean and riskmeasure used to maximize return in the long term

PRAISE FOR RISK-RETURN ANALYSIS

"Harry Markowitz invented portfolio analysis and presented the theory in his famous 1952 article and 1959 book. Nobody has greater insight into the process than Harry. No academic or practitioner can truly claim to understand portfolio analysis unless they have read this volume." -- Martin J. Gruber, Professor Emeritus and Scholar in Residence, Stern School of Business, New York University

"Surveying the vast literature inspired by [Markowitz's] own 1959 book has stimulated an outpouring of ideas. He builds on the strengths and limitations of the important papers in order to come up with a position that should silence a lot of critics." -- Jack Treynor, President, Treynor Capital Management

"The authors do not overlook various criticisms of the MPT, but rather address them convincingly. This excellent book is an essential reference for academics and practitioners alike." -- Haim Levy, Miles Robinson Professor of Finance, Hebrew University, Jerusalem, Israel

"Markowitz’s groundbreaking publications on Portfolio Selection prescribe a methodology that a rational decision-maker can follow to optimize his investment portfolio in a risky world. . . . This challenging new book clarifies many common misconceptions about modern portfolio theory." -- Roger C. Gibson, author of Asset Allocation and Chief Investment Officer, Gibson Capital, LLC

"Contain[s] great wisdom that every economist, portfolio manager, and investor should savor page by page." -- Andrew W. Lo, Charles E. and Susan T. Harris Professor and Director, Laboratory for Financial Engineering, MIT Sloan School of Management

"[Markowitz's] monumental work in the 1950s would be sufficient to qualify as a lifetime achievement for most mortals, but he keeps spouting fresh insights like lightning flashes year after year, and penetrating ever deeper into the theory, mathematics, and practice of investing." -- Martin Leibowitz, Managing Director, Global Research Strategy, Morgan Stanley

"Risk–Return Analysis is a wonderful work in progress by a remarkable scholar who always has time to read what matters, who has the deepest appreciation of scientific achievement, and who has the highest aspirations for the future." -- Enterprising Investor (CFA Institute)

"synopsis" may belong to another edition of this title.

About the Author:

HARRY M. MARKOWITZ is a Nobel Laureate and the father of Modern Portfolio Theory. Named "Man of the Century" by Pensions & Investments magazine, he is a recipient of the prestigious John von Neumann Theory Prize for his work in portfolio theory, sparse matrix techniques, and the SIMSCRIPT programming language.

KENNETH A. BLAY serves as the Director of Research for 1st Global. He leads asset allocation research and policy recommendations for the firm's investment management platform. He has played an instrumental role in the development of 1st Global's efforts in portfolio management, investment due diligence, capital markets analysis, and the establishment of the Investment Management Research Group, which today oversees the firm's portfolio management research. Kenneth has worked extensively with Dr. Harry Markowitz on portfolio analysis, risk management, and various research initiatives including tax-cognizant asset allocation.

"About this title" may belong to another edition of this title.

Top Search Results from the AbeBooks Marketplace

1.

MARKOWITZ
Published by Mcgraw Hill Publishers
ISBN 10: 007181793X ISBN 13: 9780071817936
New Quantity Available: > 20
Seller
INDOO
(Avenel, NJ, U.S.A.)
Rating
[?]

Book Description Mcgraw Hill Publishers. Book Condition: New. Brand New. Bookseller Inventory # 007181793X

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 13.61
Convert Currency

Add to Basket

Shipping: US$ 3.50
Within U.S.A.
Destination, Rates & Speeds

2.

Harry H. Markowitz, Kenneth Blay
Published by McGraw-Hill Education - Europe, United States (2013)
ISBN 10: 007181793X ISBN 13: 9780071817936
New Hardcover Quantity Available: 1
Seller
The Book Depository US
(London, United Kingdom)
Rating
[?]

Book Description McGraw-Hill Education - Europe, United States, 2013. Hardback. Book Condition: New. 231 x 147 mm. Language: English . Brand New Book. The two most important words Harry Markowitz ever wrote are portfolio selection. In 1952, when everyone in the stock market was looking for the next hot stock, as a doctoral candidate, he proposed to look at many, diverse stocks--a portfolio. He laid the first cornerstone of Modern Portfolio Theory and defended the idea that strategic asset growth means factoring in the risk of an investment. More than 60 years later, the father of modern finance revisits his original masterpiece, describes how his theory has developed, and proves the vitality of hisrisk-return analysis in the current global economy. Risk-Return Analysis opens the door to agroundbreaking four-book series giving readers a privileged look at the personal reflections and current strategies of a luminary in finance. This first volume is Markowitz s response to what he calls the Great Confusion that spread when investors lost faith in the diversification benefits of MPT during the financial crisis of 2008. It demonstrates why MPT never became ineffective during the crisis, and how you can continue to reap the rewards of managed diversification into the future.Economists and financial advisors will benefit from the potent balance of theory and hard data on mean-variance analysis aimed at improving decision-making skills. Written for the academic and the practitioner withsome math skills (mostly high school algebra), this richly illustrated guide arms you with: Concrete steps to accurately select and apply the right risk measures in a given circumstance Rare surveys of a half-century of literature covering the applicability of MPT Empirical data showing mean and riskmeasure used to maximize return in the long term PRAISE FOR RISK-RETURN ANALYSIS Harry Markowitz invented portfolio analysis and presented the theory in his famous 1952 article and 1959 book. Nobody has greater insight into the process than Harry. No academic or practitioner can truly claim to understand portfolio analysis unless they have read this volume. -- Martin J. Gruber, Professor Emeritus and Scholar in Residence, Stern School of Business, New York University Surveying the vast literature inspired by [Markowitz s] own 1959 book has stimulated an outpouring of ideas.He builds on the strengths and limitations of the important papers in order to come up with a position that should silence a lot of critics. -- Jack Treynor, President, Treynor Capital Management The authors do not overlook various criticisms of the MPT, but rather address them convincingly. This excellent book is an essential reference for academics and practitioners alike. -- Haim Levy, Miles Robinson Professor of Finance, Hebrew University, Jerusalem, Israel Markowitz s groundbreaking publications on Portfolio Selection prescribe a methodology that a rational decision-maker can follow to optimize his investment portfolio in a risky world.Thischallenging new book clarifies many common misconceptions about modern portfolio theory. -- Roger C. Gibson, author of Asset Allocation and Chief Investment Officer, Gibson Capital, LLC Contain[s] great wisdom that every economist, portfolio manager, and investor should savor page by page. -- Andrew W. Lo, Charles E. and Susan T.Harris Professor and Director, Laboratory for Financial Engineering, MIT Sloan School of Management [Markowitz s] monumental work in the 1950s would be sufficient to qualify as a lifetime achievement for most mortals, but he keeps spouting fresh insights like lightning flashes year after year, and penetrating ever deeper into the theory, mathematics, and practice of investing. -- Martin Leibowitz, Managing Director, Global Research Strategy, Morgan Stanley Risk-Return Analysis is a wonderful work in progress by a remarkable scholar who always has time to read what matters, who has the deepest appreciation of scientific achievement, and who has the highest aspirations for the future. -- Enterprising Investor (CFA Institute). Bookseller Inventory # AA39780071817936

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 34.74
Convert Currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, Rates & Speeds

3.

Harry H. Markowitz, Kenneth Blay
Published by McGraw-Hill Education - Europe, United States (2013)
ISBN 10: 007181793X ISBN 13: 9780071817936
New Hardcover Quantity Available: 1
Seller
The Book Depository
(London, United Kingdom)
Rating
[?]

Book Description McGraw-Hill Education - Europe, United States, 2013. Hardback. Book Condition: New. 231 x 147 mm. Language: English . Brand New Book. The two most important words Harry Markowitz ever wrote are portfolio selection. In 1952, when everyone in the stock market was looking for the next hot stock, as a doctoral candidate, he proposed to look at many, diverse stocks--a portfolio. He laid the first cornerstone of Modern Portfolio Theory and defended the idea that strategic asset growth means factoring in the risk of an investment. More than 60 years later, the father of modern finance revisits his original masterpiece, describes how his theory has developed, and proves the vitality of hisrisk-return analysis in the current global economy. Risk-Return Analysis opens the door to agroundbreaking four-book series giving readers a privileged look at the personal reflections and current strategies of a luminary in finance. This first volume is Markowitz s response to what he calls the Great Confusion that spread when investors lost faith in the diversification benefits of MPT during the financial crisis of 2008. It demonstrates why MPT never became ineffective during the crisis, and how you can continue to reap the rewards of managed diversification into the future.Economists and financial advisors will benefit from the potent balance of theory and hard data on mean-variance analysis aimed at improving decision-making skills. Written for the academic and the practitioner withsome math skills (mostly high school algebra), this richly illustrated guide arms you with: Concrete steps to accurately select and apply the right risk measures in a given circumstance Rare surveys of a half-century of literature covering the applicability of MPT Empirical data showing mean and riskmeasure used to maximize return in the long term PRAISE FOR RISK-RETURN ANALYSIS Harry Markowitz invented portfolio analysis and presented the theory in his famous 1952 article and 1959 book. Nobody has greater insight into the process than Harry. No academic or practitioner can truly claim to understand portfolio analysis unless they have read this volume. -- Martin J. Gruber, Professor Emeritus and Scholar in Residence, Stern School of Business, New York University Surveying the vast literature inspired by [Markowitz s] own 1959 book has stimulated an outpouring of ideas.He builds on the strengths and limitations of the important papers in order to come up with a position that should silence a lot of critics. -- Jack Treynor, President, Treynor Capital Management The authors do not overlook various criticisms of the MPT, but rather address them convincingly. This excellent book is an essential reference for academics and practitioners alike. -- Haim Levy, Miles Robinson Professor of Finance, Hebrew University, Jerusalem, Israel Markowitz s groundbreaking publications on Portfolio Selection prescribe a methodology that a rational decision-maker can follow to optimize his investment portfolio in a risky world.Thischallenging new book clarifies many common misconceptions about modern portfolio theory. -- Roger C. Gibson, author of Asset Allocation and Chief Investment Officer, Gibson Capital, LLC Contain[s] great wisdom that every economist, portfolio manager, and investor should savor page by page. -- Andrew W. Lo, Charles E. and Susan T.Harris Professor and Director, Laboratory for Financial Engineering, MIT Sloan School of Management [Markowitz s] monumental work in the 1950s would be sufficient to qualify as a lifetime achievement for most mortals, but he keeps spouting fresh insights like lightning flashes year after year, and penetrating ever deeper into the theory, mathematics, and practice of investing. -- Martin Leibowitz, Managing Director, Global Research Strategy, Morgan Stanley Risk-Return Analysis is a wonderful work in progress by a remarkable scholar who always has time to read what matters, who has the deepest appreciation of scientific achievement, and who has the highest aspirations for the future. -- Enterprising Investor (CFA Institute). Bookseller Inventory # AA39780071817936

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 35.64
Convert Currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, Rates & Speeds

4.

Markowitz, Harry M.
Published by McGraw-Hill Education (2013)
ISBN 10: 007181793X ISBN 13: 9780071817936
New Quantity Available: 8
Seller
Books2Anywhere
(Fairford, GLOS, United Kingdom)
Rating
[?]

Book Description McGraw-Hill Education, 2013. HRD. Book Condition: New. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Bookseller Inventory # CM-9780071817936

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 29.00
Convert Currency

Add to Basket

Shipping: US$ 11.64
From United Kingdom to U.S.A.
Destination, Rates & Speeds

5.

Markowitz, Harry M., Blay, Kenneth
Published by McGraw-Hill Education (2013)
ISBN 10: 007181793X ISBN 13: 9780071817936
New Hardcover Quantity Available: 2
Seller
Murray Media
(North Miami Beach, FL, U.S.A.)
Rating
[?]

Book Description McGraw-Hill Education, 2013. Hardcover. Book Condition: New. Bookseller Inventory # P11007181793X

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 38.63
Convert Currency

Add to Basket

Shipping: US$ 2.99
Within U.S.A.
Destination, Rates & Speeds

6.

Markowitz, Harry M.
ISBN 10: 007181793X ISBN 13: 9780071817936
New Quantity Available: > 20
Seller
Paperbackshop-US
(Wood Dale, IL, U.S.A.)
Rating
[?]

Book Description 2013. HRD. Book Condition: New. New Book. Shipped from US within 10 to 14 business days. Established seller since 2000. Bookseller Inventory # VJ-9780071817936

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 40.68
Convert Currency

Add to Basket

Shipping: US$ 3.99
Within U.S.A.
Destination, Rates & Speeds

7.

Harry M. Markowitz; Kenneth Blay
Published by McGraw-Hill Education (2013)
ISBN 10: 007181793X ISBN 13: 9780071817936
New Hardcover Quantity Available: 1
Seller
Irish Booksellers
(Rumford, ME, U.S.A.)
Rating
[?]

Book Description McGraw-Hill Education, 2013. Hardcover. Book Condition: New. book. Bookseller Inventory # 007181793X

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 46.78
Convert Currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, Rates & Speeds

8.

Markowitz, Harry M.
ISBN 10: 007181793X ISBN 13: 9780071817936
New Quantity Available: 8
Seller
Pbshop
(Wood Dale, IL, U.S.A.)
Rating
[?]

Book Description 2013. HRD. Book Condition: New. New Book.Shipped from US within 10 to 14 business days. Established seller since 2000. Bookseller Inventory # IB-9780071817936

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 45.26
Convert Currency

Add to Basket

Shipping: US$ 3.99
Within U.S.A.
Destination, Rates & Speeds

9.

Harry M. Markowitz; Kenneth Blay
ISBN 10: 007181793X ISBN 13: 9780071817936
New Quantity Available: 4
Seller
BWB
(Valley Stream, NY, U.S.A.)
Rating
[?]

Book Description Book Condition: New. Depending on your location, this item may ship from the US or UK. Bookseller Inventory # 97800718179360000000

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 49.28
Convert Currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, Rates & Speeds

10.

Harry H. Markowitz, Kenneth Blay
Published by McGraw-Hill Education - Europe, United States (2013)
ISBN 10: 007181793X ISBN 13: 9780071817936
New Hardcover Quantity Available: 10
Seller
Book Depository hard to find
(London, United Kingdom)
Rating
[?]

Book Description McGraw-Hill Education - Europe, United States, 2013. Hardback. Book Condition: New. 231 x 147 mm. Language: English . This book usually ship within 10-15 business days and we will endeavor to dispatch orders quicker than this where possible. Brand New Book. The two most important words Harry Markowitz ever wrote are portfolio selection. In 1952, when everyone in the stock market was looking for the next hot stock, as a doctoral candidate, he proposed to look at many, diverse stocks--a portfolio. He laid the first cornerstone of Modern Portfolio Theory and defended the idea that strategic asset growth means factoring in the risk of an investment. More than 60 years later, the father of modern finance revisits his original masterpiece, describes how his theory has developed, and proves the vitality of hisrisk-return analysis in the current global economy. Risk-Return Analysis opens the door to agroundbreaking four-book series giving readers a privileged look at the personal reflections and current strategies of a luminary in finance. This first volume is Markowitz s response to what he calls the Great Confusion that spread when investors lost faith in the diversification benefits of MPT during the financial crisis of 2008. It demonstrates why MPT never became ineffective during the crisis, and how you can continue to reap the rewards of managed diversification into the future.Economists and financial advisors will benefit from the potent balance of theory and hard data on mean-variance analysis aimed at improving decision-making skills. Written for the academic and the practitioner withsome math skills (mostly high school algebra), this richly illustrated guide arms you with: Concrete steps to accurately select and apply the right risk measures in a given circumstance Rare surveys of a half-century of literature covering the applicability of MPT Empirical data showing mean and riskmeasure used to maximize return in the long term PRAISE FOR RISK-RETURN ANALYSIS Harry Markowitz invented portfolio analysis and presented the theory in his famous 1952 article and 1959 book. Nobody has greater insight into the process than Harry. No academic or practitioner can truly claim to understand portfolio analysis unless they have read this volume. -- Martin J. Gruber, Professor Emeritus and Scholar in Residence, Stern School of Business, New York University Surveying the vast literature inspired by [Markowitz s] own 1959 book has stimulated an outpouring of ideas.He builds on the strengths and limitations of the important papers in order to come up with a position that should silence a lot of critics. -- Jack Treynor, President, Treynor Capital Management The authors do not overlook various criticisms of the MPT, but rather address them convincingly. This excellent book is an essential reference for academics and practitioners alike. -- Haim Levy, Miles Robinson Professor of Finance, Hebrew University, Jerusalem, Israel Markowitz s groundbreaking publications on Portfolio Selection prescribe a methodology that a rational decision-maker can follow to optimize his investment portfolio in a risky world.Thischallenging new book clarifies many common misconceptions about modern portfolio theory. -- Roger C. Gibson, author of Asset Allocation and Chief Investment Officer, Gibson Capital, LLC Contain[s] great wisdom that every economist, portfolio manager, and investor should savor page by page. -- Andrew W. Lo, Charles E. and Susan T.Harris Professor and Director, Laboratory for Financial Engineering, MIT Sloan School of Management [Markowitz s] monumental work in the 1950s would be sufficient to qualify as a lifetime achievement for most mortals, but he keeps spouting fresh insights like lightning flashes year after year, and penetrating ever deeper into the theory, mathematics, and practice of investing. -- Martin Leibowitz, Managing Director, Global Research Strategy, Morgan Stanley Risk-Return Analysis is a wonderful work in progress by a remarkable scholar who always has time to read what matters, who has the deepest appreciation of scient. Bookseller Inventory # BTE9780071817936

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 53.87
Convert Currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, Rates & Speeds

There are more copies of this book

View all search results for this book