When the recession of 1974 hit Wall Street, the investments profession desperately turned to the theories of a small and unlikely group of academics for guidance in finding a way to regain the value of their clients' holdings. Some of these scholars had begun to study stock prices merely as an expedient way to test the properties of large numbers, but inadvertently, they laid the intellectual foundation for a revolution in commerce. Peter L. Bernstein shows how Wall Street first fought, and then embraced, the advances wrought in the academic seminars and technical journals that ultimately transformed the art of investing.
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Capital Ideas traces the origins of modern Wall Street, from the pioneering work of early scholars and the development of new theories in risk, valuation, and investment returns, to the actual implementation of these theories in the real world of investment management. Starting with the French mathema-tician Louis Bachelier—who wrote about the unpredictability of stock prices in the early 1900s—Bernstein brings to life a variety of brilliant academics who have contributed to modern investment theory over the years:
Filled with in-depth insights and timeless advice, Capital Ideas reveals how the unique contributions of these talented individuals profoundly changed the practice of investment management as we know it today.About the Author:
Peter L. Bernstein, one of the foremost financial writers of his generation, is the author of the bestselling, Against the Gods: The Remarkable Story of Risk and The Power of Gold: The History of an Obsession, both from Wiley, as well as five other books. He is President of Peter L. Bernstein, Inc., an investment consulting firm he founded in 1973 after many years of managing billions of dollars in individual and institutional portfolios. He is the founding Editor of the Journal of Investment Management. He has lectured widely throughout the United States and abroad, and has received the highest honors from his peers in the investment profession.
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Book Description Free Press, 1991. Hardcover. Book Condition: New. book. Bookseller Inventory # M0029030110
Book Description Free Press, 1991. Hardcover. Book Condition: New. Bookseller Inventory # DADAX0029030110
Book Description Book Condition: New. Gift Quality Book in Excellent Condition. Bookseller Inventory # 36SDH6000FJG
Book Description Free Press, 1991. Hardcover. Book Condition: New. Never used!. Bookseller Inventory # P110029030110