Pandora's Risk : Uncertainty at the Core of Finance

Kent Osband

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Language: English

Published by Columbia University Press Jul 2011, 2011

0231151721 / 9780231151726

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Neuware - 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.

Seller Inventory # 9780231151726

Title
Pandora's Risk : Uncertainty at the Core of Finance
Author
Kent Osband
Publisher
Columbia University Press Jul 2011
Publication year
2011
Condition
Neu
Binding
Buch
Language
English
ISBN 10
0231151721
ISBN 13
9780231151726
Item weight
553 grams
Dimensions
237x159x28 mm

AHA-BUCH GmbH

Einbeck, Germany

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