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Applied Investment Theory - How Markets and Investors Behave, and Why (Paperback, Softcover reprint of the original 1st ed. 2016)
Loot Price: R1,622
Discovery Miles 16 220
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Applied Investment Theory - How Markets and Investors Behave, and Why (Paperback, Softcover reprint of the original 1st ed. 2016)
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Total price: R1,642
Discovery Miles: 16 420
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Institutions now dominate trading in equities around the world.
Mutual funds are the most prominent, and doubly important as
custodians of retirement savings. Despite this, there is no
comprehensive description of fund manager behaviour, much less a
matching theory. This is troubling because one of the most
economically significant puzzles in finance is why experienced,
well-resourced fund managers cannot outperform the market. Applied
Investment Theory: How Equity Markets Behave, and Why brings
together academic research, empirical evidence and real market
experience to provide new insights into equity markets and their
behaviours. The book draws upon the author's rich industry
experience and academic research, plus over 40 interviews with fund
managers on three continents and across different markets. The
result is an innovative model that explains the puzzle of poor
performance by mutual funds in terms of structural features of
markets, the managed investment industry, and the conduct of fund
managers. This book provides a fully integrated depiction of what
markets and investors do, and why - insights that will resonate
with the needs of investors, wealth managers and industry
regulators. It is fully documented, but free of jargon and arcane
math, and provides a grounded theory that is relevant to anyone who
wants to pierce the opacity of mutual fund operations. Applied
Investment Theory sets out a new paradigm in investment that is at
the forefront of what should be an industrial-scale development of
new finance theory following two decades of almost back-to-back
financial crises.
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