05644nam 2200745Ia 450 991014135270332120200520144314.01-119-20512-31-118-48384-71-283-86942-X1-118-48383-9(CKB)2670000000308918(EBL)947691(OCoLC)804146133(SSID)ssj0000785093(PQKBManifestationID)11428652(PQKBTitleCode)TC0000785093(PQKBWorkID)10802667(PQKB)10521976(DLC) 2012031475(Au-PeEL)EBL947691(CaPaEBR)ebr10631326(CaONFJC)MIL418192(CaSebORM)9781118483855(MiAaPQ)EBC947691(PPN)191357049(EXLCZ)99267000000030891820120802d2013 uy 0engurcn|||||||||txtccrPostmodern investment[electronic resource] facts and fallacies of growing wealth in a multi-asset world /Garry B. Crowder, Thomas Schneeweis, Hossein Kazemi1st editionHoboken, N.J. John Wiley & Sonsc20131 online resource (338 p.)Wiley FinanceDescription based upon print version of record.1-118-48385-5 1-118-43223-1 Includes bibliographical references and index.Post Modern Investment; Contents; Preface; The Core Concepts in Managing Wealth; Postmodern Investment; How the Chapters Are Structured; As You Begin; Acknowledgments; Chapter 1 Investment Ideas: Evolution or Revolution?; In the Beginning; Modern Portfolio Theory and the Efficient Market Hypothesis; Capital Asset Pricing Model; The Beginning of Information Transparency; New Markets, New Products, and the Evolution of Modern Investment; New Opportunities Create New Risks; The Market Is Not Efficient for Everyone; A Personal View of Modern Investment; What Every Investor Should KnowMyths and Misconceptions of Modern Investment Myth 1.1: Beta Is Dead; Myth 1.2: Mean-Variance Optimization Models Correctly Balance Risk and Return; Myth 1.3: Yield to Maturity Is Dead; Myth 1.4: Investment Managers Matter; Myth 1.5: Structured Products Are Dead; Myth 1.6: Behavioral Finance Is the New Normal; Myth 1.7: Derivative Markets Promote Increased Market Volatility; Myth 1.8: Global Equity Markets and Bond Markets Act Differently Than U.S. Markets; Myth 1.9: An Asset's Price Never Changes; Chapter 2 Equity and Fixed Income: The Traditional Pair; A Brief ReviewEquity and Fixed-Income Styles and Benchmarks Basic Sources of Risk and Return; Performance: Fact and Fiction; Return and Risk Characteristics; The Myth of Average: Equity and Fixed-Income Return in Extreme Markets; Annual Performance; Performance in 2008; Special Issues: Making Sense Out of Traditional Stock and Bond Indices; A Personal View of Equity and Fixed-Income Analysis; Distributional Characteristics; Untitled; What Every Investor Should Know; Myths and Misconceptions of Equity and Fixed Income; Myth 2.1: Dividends Are Certain While Capital Gains Are UncertainMyth 2.2: Investor Attitudes, Not Economic Information, Drive Stock and Bond Values Myth 2.3: Despite the Volatility of Stocks and Bonds in the Short Run, Time Diversification Reduces Their Volatilities in the Long Run; Myth 2.4: Diversification across Equity Issues or Countries Is Sufficient to Reduce Risk; Myth 2.5: Historical Returns from Security Indices Provide the Most Important Information as to Expected Future Performance; Myth 2.6: Recent Manager Fund Performance Forecasts Future Return; Myth 2.7: Given the Efficiency of the Stock and Bond Markets, Managers Provide No Useful ServiceMyth 2.8: Superior Managers or Investment Ideas Do Not Exist Myth 2.9: Stock and Bond Investment Means Investors Have No Derivatives Exposure; Myth 2.10: Mutual Fund Investment Removes Investor Concerns as to Leverage; Chapter 3 Hedge Funds: An Absolute Return Answer?; What Are Hedge Funds?; Investing in Hedge Funds; Hedge Fund Styles and Benchmarks; Relative Value; Relative Value; Opportunistic; Basic Sources of Return and Risk; Performance: Fact and Fiction; Return and Risk Characteristics; The Myth of Average: Hedge Fund Index Return in Extreme Markets; Hedge Fund Annual PerformancePerformance in 2008Debunking outdated and inaccurate beliefs about investment management and reveals the new realities of the post-modern financial markets There have been a lot of big changes in the investment world over the past decade, and many long-cherished beliefs about the structures and performance of various investments no longer apply. Unfortunately the news seems not to have reached many thought leaders and investment professionals who persist in trying, and failing, to apply 20th-century thinking to 21st-century portfolio management. Nowhere is this more true than when it comes to the subjecWiley FinanceInvestmentsPortfolio managementInvestments.Portfolio management.332.6Crowder Garry B.1954-869520Kazemi Hossein1954-869521Schneeweis Thomas869519MiAaPQMiAaPQMiAaPQBOOK9910141352703321Postmodern investment1992110UNINA