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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Richard Brealey London Business School This is a great book...captures marvelously the excitement of the search for new ideas.From the Back Cover:
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.
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Book Description Free Press, 1991. Hardcover. Book Condition: New. book. Bookseller Inventory # 0029030110
Book Description Free Press, 1991. Hardcover. Book Condition: New. Bookseller Inventory # DADAX0029030110
Book Description Free Press. Hardcover. Book Condition: New. 0029030110 This is a hardcover book with dust jacket. Bookseller Inventory # 192.R1
Book Description Free Press, 1991. Book Condition: New. Brand New, Unread Copy in Perfect Condition. A+ Customer Service!. Bookseller Inventory # ABE_book_new_0029030110
Book Description Book Condition: Brand New. Book Condition: Brand New. Bookseller Inventory # 97800290301101.0
Book Description Free Press, 1991. Hardcover. Book Condition: New. Bookseller Inventory # P110029030110