Capital ideas : the improbable origins of modern Wall Street

When the 1974 recession hit Wall Street, investment professionals desperately turned to academia to help regain the value of their clients' holdings. Bernstein shows how Wall Street finally embraced the advences wrought in academic seminars and technical journals tht ultimately transformed the art of investing. The Revolution In The Wealth Of Nations -- Setting The Scene -- Are Stock Prices Predictable? -- The Whole And The Parts -- Fourteen Pages To Fame -- The Interior Decorator Fallacy -- The Most Important Single Influence -- The Demon Of Chance -- Illusions, Molecules, And Trends -- Anticipating Prices Properly -- The Search For High P.q. -- What Are Stocks Worth? -- The Best At The Price -- The Bombshell Assertions -- Risky Business -- The Universal Financial Device -- From Gown To Town -- The Constellation -- The Accountant For Risk -- The Ultimate Invention -- The Future -- The View From The Top Of The Tower -- Bibliography And Other Sources -- Name Index -- Subject Index. Peter L. Bernstein. Includes Bibliographical References (p. 319-329) And Indexes. Library Journal Best Books "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 mathematician 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."--BOOK JACKET. Reveals how a small group of scholars--Harry Markowitz, William Sharpe, Merton Miller, and others--laid the foundation for a revolution in commerce with theories they developed after the recession in 1974 Paul Samuelson, economist and Nobel laureate, once remarked that it is not easy to get rich in Las Vegas, at Churchill Downs, or at the local Merrill Lynch office. Om de nyeste teorier, sammenholdt med praksis, inden for pengemarkedet i USA i de sidste 3 årtier Discusses the history of financial strategies for investing in the stock market