New Principles of Equity Investment
Kiadó: Emerald Publishing Limited
Megjelenés dátuma: 2019. március 14.
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Kiadói listaár:
GBP 38.99
GBP 38.99
Az Ön ára:
16 949 (16 142 Ft + 5% áfa )
Kedvezmény(ek): 10% (kb. 1 883 Ft)
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A termék adatai:
ISBN13: | 9781789730647 |
ISBN10: | 1789730643 |
Kötéstípus: | Puhakötés |
Terjedelem: | 280 oldal |
Méret: | 229x152 mm |
Súly: | 418 g |
Nyelv: | angol |
95 |
Témakör:
Rövid leírás:
The book aligns the best of established theory, empirical evidence and industry practice to operationalise equity investment and match it to practices in the real world. It does not merely repackage the contemporary investment paradigm, but develops a new perspective that follows a rigorous research philosophy and is based on field evidence.
Hosszú leírás:
The modern finance paradigm is incomplete. Obvious gaps include poor performance of professional investors, puzzles enough in equity markets to support a sub-discipline of behavioural finance that patches over irrational biases and mispricings, and chronic, but inexplicable, financial crises. As with so many other disciplines, existing finance theory explains less than a tenth of what we see in markets and investment. A new paradigm of investment is needed.
In a new perspective on contemporary equity investment based on a rigorous research philosophy and field evidence, Coleman presents two main innovations. The first is to treat equities as contracts that have extensive properties and are best described by a price model with multiple components. The second is to limit value horizon to a reasonably foreseeable next year. Another feature, he says, is a focus on the central objectives of equity investment: valuation of individual equities, managing exposure to losses, diversification of holdings through an appropriate portfolio, and timing buy-sell transactions.
New Principles of Equity Investment brings together robust scientific methodology with empirical evidence to propose a new paradigm of equity investment. It begins with a wide-ranging review of investor practices using mainly US and European research and surveys, and then outlines the nature of investment risk, the links between equity returns and institutional factors, and the structure of equity markets. The result is a sophisticated description of what we know is true about investment, and a frank assessment of the limitations to investment expertise. The author then presents a coherent, workable theory of equity prices that can be applied in practice by equity investors, and explains logical investor behaviours that have been thought of as biases.
Written by an academic with many years of practical investment experience, this book will provide new insights for equity investors who are looking for new perspectives and a better understanding of today?s complex markets.
In a new perspective on contemporary equity investment based on a rigorous research philosophy and field evidence, Coleman presents two main innovations. The first is to treat equities as contracts that have extensive properties and are best described by a price model with multiple components. The second is to limit value horizon to a reasonably foreseeable next year. Another feature, he says, is a focus on the central objectives of equity investment: valuation of individual equities, managing exposure to losses, diversification of holdings through an appropriate portfolio, and timing buy-sell transactions.
Tartalomjegyzék:
Chapter 1. What this book is about
Chapter 2. Four component model of equity pricing
Chapter 3. How professionals invest
Chapter 4. Risk in equity investment
Chapter 5. Fundamental analysis of equities
Chapter 6. Pricing equities within the four component model
Chapter 7. Market level influences and transaction timing
Chapter 8. Portfolio construction and performance evaluation
Chapter 9. Summary and conclusions