Research Catalog
The pillars of finance : the misalignment of finance theory and investment practice
- Title
- The pillars of finance : the misalignment of finance theory and investment practice / Guy Fraser-Sampson.
- Author
- Fraser-Sampson, Guy
- Publication
- New York : Palgrave Macmillan, 2014.
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| Status | Format | Access | Call Number | Item Location |
|---|---|---|---|---|
Available - Can be used on site. Please visit New York Public Library - Schwarzman Building to submit a request in person. | Text | Use in library | JBD 14-251 | Schwarzman Building - General Research Room 315 |
Details
- Description
- 260 pages; 23 cm
- Summary
- "In The Pillars of Finance, author and finance expert Guy Fraser-Sampson challenges the fundamental conventions of modern finance. He asserts that, at its core, finance is not the highly scientific, modern discipline that most would claim, but has in fact stood still for the past 50 years. Central to the book are the main pillars of the financial markets - risk, return, and value - pillars of financial practice that are not properly understood by the industry, as began to become clear in 2007. Instead, the industry is blinded by a quantitative maze, obsessed with mathematical solutions, stochastic models, and normal distributions, which, although they have a place, should not provide the bedrock of the global marketplace. The author also looks at the industry's overreliance on past performance. Historical data is the foundation of financial forecasting and derivatives pricing, and while much can be gleaned from the past, it cannot and should not be seen as a mirror of the future. Finally, the author provides solutions to these issues, which include the need for the industry to undergo a transformation similar to that which occurred in the Modernist movement in other fields. He argues for a return to more qualitative and informed approaches to finance, bringing back intuition, skill, responsibility, and competency. Drawing from many fields of knowledge, including philosophy, psychology, and history, he encourages readers to question everything, rather than tamely accepting conventional wisdom. The Pillars of Finance is a lively and provocative read, challenging some of the core beliefs of modern finance. It will spark fierce debate and prove a popular read for anyone interested in modern finance. "--
- Subjects
- Contents
- Introduction -- The ultimate question -- A game of chance -- And yet it moves -- Finance and its supporting pillars -- Periodic return -- Further reflections of return -- Thoughts on risk (pre-War) and the influence of logical positivism -- Thoughts on risk (post-War): theory becomes dogma -- Things fall apart -- Risk and subjectivity -- The shock of the new -- Finance and science -- It's all in the mind, you know -- Personality, behavior, and decision making -- The angel of history -- A new approach -- What will New Finance look like?
- Call Number
- JBD 14-251
- ISBN
- 9781137264053 (hardback)
- 1137264055 (hardback)
- LCCN
- 2014017587
- OCLC
- 879642287
- Author
- Fraser-Sampson, Guy, author.
- Title
- The pillars of finance : the misalignment of finance theory and investment practice / Guy Fraser-Sampson.
- Publisher
- New York : Palgrave Macmillan, 2014.
- Type of Content
- text
- Type of Medium
- unmediated
- Type of Carrier
- volume
- Research Call Number
- JBD 14-251