Moving Beyond Modern Portfolio Theory: Investing That Matters tells the story of how Modern Portfolio Theory (MPT) revolutionized the investing world and the real economy, but is now showing its age. MPT has no mechanism to understand its impacts on the environmental, social and financial systems, nor any tools for investors to mitigate the havoc that systemic risks can wreck on their portfolios. It's time for MPT to evolve. The authors propose a new imperative to improve finance's ability to fulfil its twin main purposes: providing adequate returns to individuals and directing capital to where it is needed in the economy. They show how some of the largest investors in the world focus not on picking stocks, but on mitigating systemic risks, such as climate change and a lack of gender diversity, so as to improve the risk/return of the market as a whole, despite current theory saying that should be impossible. "Moving beyond MPT" recognizes the complex relations between investing and the systems on which capital markets rely, "Investing that matters" embraces MPT's focus on diversification and risk adjusted return, but understands them in the context of the real economy and the total return needs of investors. Whether an investor, an MBA student, a Finance Professor or a sustainability professional, Moving Beyond Modern Portfolio Theory: Investing That Matters is thought-provoking and relevant. Its bold critique shows how the real world already is moving beyond investing orthodoxy.

With real case stories, Wells and Ahmed bring to life both the hopes for and the failures of international guarantees of property rights for investors in the developing world. Their cases focus on infrastructure projects, but the lessons apply equally to many other investments. In the 1990's inexperienced firms from rich countries jumped directly into huge projects in some of the world's least developed countries. Their investments reflected almost unbridled enthusiasm for emerging markets and trust in new international guarantees. Yet within a few years the business pages of the world press were reporting an exploding number of serious disputes between foreign investors and governments. As the expected bonanzas proved elusive and the protections weaker than anticipated, many foreign investors became disenchanted with emerging markets. So bad were the outcomes in some cases that a few notable infrastructure firms came close to bankruptcy; several others hurriedly fled poor countries as projects soured.
In this book, Louis Wells and Rafiq Ahmed show why disputes developed, point out how investments and disputes have changed over time, explore why various firms responded differently to crises, and question the basic wisdom of some of the enthusiasm for privatization. The authors tell how firms, countries, and multilateral development organizations can build a conflict-management system that balances the legitimate economic and social concerns of the host countries and those of investors. Without these changes, multinational corporations will lose profitable opportunities and poor countries will not gain the contributions that foreign investment can make toward alleviating poverty.

This book discusses new determinants for optimal portfolio selection. It reviews the existing modelling framework and creates mean-variance efficient portfolios from the securities companies on the National Stock Exchange. Comparisons enable researchers to rank them in terms of their effectiveness in the present day Indian securities market.

Income Investing Today

Income Investing Today details a safe alternative to the downside risks inherent in the stock market--income securities that can provide a 7% to 8% annual cash income. With this book, fixed income expert Richard Lehmann outlines income investing concepts you need to understand, various investment vehicles, and investment strategies that will help you build a safe, diversified portfolio of investments.

The investment vehicles he explains range well beyond traditional fixed income securities or creditor instruments such as bonds, to include hybrids, REITs, mutual funds, and more. He shows that the key to building a steady, growth-oriented income portfolio is to diversify over a variety of securities that depend on different drivers--that is, portfolios that are not vulnerable to any one specific economic factor such as interest rates.

The ideal guide for individual investors saving for retirement and seeking more safety in their portfolios, Income Investing Today shows how a diversified collection of income securities can equal or exceed the returns from common stock with much lower risk.

This book presents China's wealth management market to the public, institutions and research groups. As the money base of Renminbi (RMB or Chinese Yuan) from the central bank increases exponentially in recent years, the overall leverage ratio rises in an alarming rate and the shadow banking issues stick out. Where this massive amount goes has raised huge interest all over the world. This book answers this question in three aspects: What is the money made up? Who is managing the money and how are they doing? The author studied six types of financial institutions that are responsible for channeling the money to industries and individuals. Banks although still the main vehicle for money flows, other financial organizations have taken more and more important roles in the money management market. Insurance, trust, security and mutual funds are the main non-banking business participants. New money management products are innovated, as are the regulations. The money management business in China has experience from starting chaos to a regulated market and the evolution is still going on. Professionals and researchers around the world are watching China's money market closely, studying the mechanisms, looking for business opportunities and trying to theorizing economic rules. This book is a well presented and professionally structured for the above purposes.

This volume, inspired by and dedicated to the work of pioneering investment analyst, Jack Treynor, addresses the issues of portfolio risk and return and how investment portfolios are measured. In a career spanning over fifty years, the primary questions addressed by Jack Treynor were: Is there an observable risk-return trade-off? How can stock selection models be integrated with risk models to enhance client returns? Do managed portfolios earn positive, and statistically significant, excess returns and can mutual fund managers time the market? Since the publication of a pair of seminal Harvard Business Review articles in the mid-1960's, Jack Treynor has developed thinking that has greatly influenced security selection, portfolio construction and measurement, and market efficiency. Key publications addressed such topics as the Capital Asset Pricing Model and stock selection modeling and integration with risk models. Treynor also served as editor of the Financial Analysts Journal, through which he wrote many columns across a wide spectrum of topics. This volume showcases original essays by leading researchers and practitioners exploring the topics that have interested Treynor while applying the most current methodologies. Such topics include the origins of portfolio theory, market timing, and portfolio construction in equity markets. The result not only reinforces Treynor's lasting contributions to the field but suggests new areas for research and analysis.

Understanding the American stock market boom and bust of the 1920s is vital for formulating policies to combat the potentially deleterious effects of busts on the economy. Using new data, Kabiri explains what led to the 1920s stock market boom and 1929 crash and looks at whether 1929 was a bubble or not and whether it could have been anticipated.

This publication analyses calendar anomalies in the real estate industry with a focus on the European market. It considers annual, monthly and weekly calendar anomalies looking at a representative sample of European REITs and highlights the main differences amongst the countries.

Richard Wyckoff was a Wall Street legend. Not only did he make a fortune, but he also was the longtime editor and publisher of The Magazine of Wall Street and the developer of successful methods to analyze and forecast the market. In this book, originally published in 1922, Wyckoff lays out his insider's knowledge for everyone, especially those who are willing to study before risking one's own money. After all, he wrote, "in Wall Street as anywhere else, the chief essential is common sense, coupled with study and practical experience." He covers topics such as the six rules he's found helpful, why he adopted Harriman's principle, what he looks for before buying a bond, the earmarks of a desirable investment, the importance of knowing who owns a stock, and how to recognize manipulation in the market. RICHARD D. WYCKOFF edited and published The Magazine of Wall Street and wrote Studies in Tape Reading and other books on his stock market techniques. He was an early proponent of ticker tape reading, and his method of analyzing the market is still used by brokers and traders today.

Sammy Chua's DAY TRADE Your Way to FINANCIAL FREEDOM
SECOND EDITION
Day Trade Your Way to Financial Freedom, Second Edition tells you everything you need to have--and know--to launch a successful and satisfying career as a stock trader. From behind-the-scenes details on market makers and Level II trading to the stock-picking strategies and trading techniques of today's top pros, renowned trader and trainer Sammy Chua shows you how to:
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Use your Level II screen to look behind the action--and discover what the market makers are really doing
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Interpret technical indicators to identify trends and accurately forecast pending reversal points
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Stay in winning trades for the maximum possible profits, while avoiding huge losses that can cripple a trading program

New technologies and securities regulations make it the best time in history to become an independent day trader. But only you can make that first move. Let Day Trade Your Way to Financial Freedom, Second Edition give you the intelligence and confidence you need to become a successful day trader, and take control of your financial future.

THE PSYCHOLOGY OF THE STOCK MARKET: Human Impulses Lead To Speculative Disasters is a brief, but fascinating guide about what really influences the way the financial markets behave.

Here is the top five principles of the book in summary:

1. Your main purpose must be to keep the mind clear and well balanced.Hence, do not act hastily on apparently sensational information;do not trade so heavily as to become anxious; and do not permit yourself to be influenced by your position in the market.

2. Act on your own own judgement, or else act absolutely and entirely on the judgement of another, regardless of your own opinion."To many cooks spoil the broth."

3. When in doubt, keep out of the market. Delays cost less than losses.

4. Endeavor to catch the trend of sentiment.Even if you should be temporarily against fundamental conditions, it is nevertheless unprofitable to oppose it.

5. The greatest fault of ninety-nine percent out of one hundred active traders is being bullish at high prices and bearish at low prices. Therefore, refuse to follow the market beyond what you consider a reasonable climax, no matter how large the possible profits that you may appear to be losing by inaction.