LEADER 05644nam 2200745Ia 450 001 9910141352703321 005 20200520144314.0 010 $a1-119-20512-3 010 $a1-118-48384-7 010 $a1-283-86942-X 010 $a1-118-48383-9 035 $a(CKB)2670000000308918 035 $a(EBL)947691 035 $a(OCoLC)804146133 035 $a(SSID)ssj0000785093 035 $a(PQKBManifestationID)11428652 035 $a(PQKBTitleCode)TC0000785093 035 $a(PQKBWorkID)10802667 035 $a(PQKB)10521976 035 $a(DLC) 2012031475 035 $a(Au-PeEL)EBL947691 035 $a(CaPaEBR)ebr10631326 035 $a(CaONFJC)MIL418192 035 $a(CaSebORM)9781118483855 035 $a(MiAaPQ)EBC947691 035 $a(PPN)191357049 035 $a(EXLCZ)992670000000308918 100 $a20120802d2013 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aPostmodern investment$b[electronic resource] $efacts and fallacies of growing wealth in a multi-asset world /$fGarry B. Crowder, Thomas Schneeweis, Hossein Kazemi 205 $a1st edition 210 $aHoboken, N.J. $cJohn Wiley & Sons$dc2013 215 $a1 online resource (338 p.) 225 1 $aWiley Finance 300 $aDescription based upon print version of record. 311 $a1-118-48385-5 311 $a1-118-43223-1 320 $aIncludes bibliographical references and index. 327 $aPost 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 Know 327 $aMyths 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 Review 327 $aEquity 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 Uncertain 327 $aMyth 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 Service 327 $aMyth 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 Performance 327 $aPerformance in 2008 330 $aDebunking outdated and inaccurate beliefs about investment management and reveals the new realities of the post-modern financial markets There have been a lot of big changes in the investment world over the past decade, and many long-cherished beliefs about the structures and performance of various investments no longer apply. Unfortunately the news seems not to have reached many thought leaders and investment professionals who persist in trying, and failing, to apply 20th-century thinking to 21st-century portfolio management. Nowhere is this more true than when it comes to the subjec 410 0$aWiley Finance 606 $aInvestments 606 $aPortfolio management 615 0$aInvestments. 615 0$aPortfolio management. 676 $a332.6 700 $aCrowder$b Garry B.$f1954-$0869520 701 $aKazemi$b Hossein$f1954-$0869521 701 $aSchneeweis$b Thomas$0869519 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910141352703321 996 $aPostmodern investment$91992110 997 $aUNINA