LEADER 05352nam 22007094a 450 001 9910144683403321 005 20170810195520.0 010 $a1-282-30806-8 010 $a9786612308062 010 $a0-470-31709-4 010 $a0-470-31793-0 035 $a(CKB)1000000000687576 035 $a(EBL)468623 035 $a(OCoLC)264615391 035 $a(SSID)ssj0000340486 035 $a(PQKBManifestationID)11243842 035 $a(PQKBTitleCode)TC0000340486 035 $a(PQKBWorkID)10387449 035 $a(PQKB)11203401 035 $a(MiAaPQ)EBC468623 035 $a(PPN)159303559 035 $a(EXLCZ)991000000000687576 100 $a20020624d2003 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aModels for investors in real world markets$b[electronic resource] /$fJames R. Thompson, Edward E. Williams, M. Chapman Findlay, III 210 $aNew York $cJohn Wiley & Sons, Inc.$dc2003 215 $a1 online resource (404 p.) 225 1 $aWiley series in probability and statistics 300 $aDescription based upon print version of record. 311 $a0-471-35628-X 320 $aIncludes bibliographical references and index. 327 $aModels for Investors in Real World Markets; Contents; Preface; 1. Introduction and the Institutional Environment; 1.1. Introduction; 1.2. The Stock Market Efficiency Question; 1.3. Some History; 1.4. The Role of Financial Information in the Market Efficiency Question; 1.5. The Role of Organized Markets in the Market Efficiency Question; 1.6. The Role of Trading in the Market Efficiency Question; 1.7. The Role of Securities Market Regulation in the Market Efficiency Question; 1.8. The Role of Stock Market Indicators in the Market Efficiency Question; 1.9. Summary; References 327 $a2. Some Conventional Building Blocks (With Various Reservations)2.1. Introduction; 2.2. The St. Petersburg Paradox; 2.3. von Neumann-Morgenstern Utility; 2.4. Creating a "St. Petersburg Trust"; 2.5. Some Problems with Aggregate Choice Behavior; 2.6. Jeffersonian Realities; 2.7. Conclusions; Problems; References; 3. Diversification and Portfolio Selection; 3.1. Introduction; 3.2. Portfolio Design as Constrained Optimization; 3.3. A Graphical Depiction; 3.4. Other Approaches: Confidence Limits and Stochastic Dominance; 3.5. Non-Utility Techniques; 3.6. Portfolio Rebalancing; Problems 327 $aReferences4. Capital Market Equilibrium Theories; 4.1. Introduction: The Capital Market Line; 4.2. The Security Market Line; 4.3. The Sharpe Diagonal Model; 4.4. Portfolio Evaluation and the Capital Asset Pricing Model (CAPM); 4.5. Arbitrage Pricing Theory (APT) and Fama-French (FF); 4.6. Interaction of Equilibrium and Efficiency; 4.7. Expectations, Convergence, and the Efficient Market Hypothesis; 4.8. Conclusions; Problems; References; 5. Equilibrium Implying Efflciency: The Neoclassical Fantasy; 5.1. Introduction; 5.2. A Formal Restatement of the Hypothesis; 5.3. Who Are the EMH Investors? 327 $a5.4. Some Early History5.5. Science and the "Social Sciences"; 5.6. Risk versus Uncertainty; 5.7. The 1960s and 1970s; 5.8. The Weak Form of the EMH; 5.9. The Semi-strong Form of the EMH; 5.10. An Example of "Soft" Results Becoming "Conclusive"; 5.11. Other Studies; 5.12. Intertemporal Analyses; 5.13. More Evidence That Markets Are Not Efficient; 5.14. Conclusions; References; 6. More Realistic Paradigms for Investment; 6.1. Introduction; 6.2. Growth; 6.3. Rational Valuation and Growth; 6.4. Momentum and Growth; 6.5. An Application; 6.6. The "Risk Profile" Approach to Stock Selection 327 $a6.7. The 'Risk Profile" Approach After-Taxes and Transactions Costs6.8. Realistic Capital Market Theory; 6.9. Conclusions; Problems; References; 7. Security Analysis; 7.1. Introduction; 7.2. Financial Statement Analysis; 7.3. Ameritape, Inc.; 7.4. The Auditor's Opinion; 7.5. The Historical Record; 7.6. Notes to the Financial Statement; 7.7. The Most Recent Year and Ratio Calculations; 7.8. Other Information; 7.9. Projections and Evaluation; 7.10. Accounting Numbers and Corporate Accountability; Problems; References; 8. Empirical Financial Forecasting; 8.1. Introduction 327 $a8.2. Forecasting as Regression 330 $a* Considers neoclassical models in light of results that can go wrong with them to bring about better models.* Questions the assumption that markets clear quickly.* Offers a timely examination of the LTCM collapse.* Written by a group of well-respected and highly qualified authors. 410 0$aWiley series in probability and statistics. 606 $aInvestments$xStatistical methods 606 $aSecurities$xStatistical methods 606 $aStocks$xStatistical methods 615 0$aInvestments$xStatistical methods. 615 0$aSecurities$xStatistical methods. 615 0$aStocks$xStatistical methods. 676 $a332.6 676 $a332.63 676 $a332.6322 700 $aThompson$b James R$0141788 701 $aWilliams$b Edward E$0428263 701 $aFindlay$b M. Chapman$0428264 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910144683403321 996 $aModels for investors in real world markets$92226316 997 $aUNINA