Adaptive Markets Financial Evolution at the Speed of Thought Business Adaptive Markets: Financial Evolution…

Adaptive Markets Financial Evolution at the Speed of Thought

Business

Adaptive Markets: Financial Evolution at the Speed of Thought by Andrew W. Lo
Winning the Loser’s Game, Seventh Edition: Timeless Strategies for Successful Investing by Charles D. Ellis
Financially Stupid People Are Everywhere: Don’t Be One Of Them by Jason Kelly
Alicia Micklethwait, Patricia Dimond – Driven to the Brink: Why Corporate Governance, Board Leadership and Culture Matter
Groups and Markets: General Equilibrium with Multi-member Households By Prof. Dr. Hans Gersbach, Prof. Dr. Hans Haller

Adaptive Markets: Financial Evolution at the Speed of Thought by Andrew W. Lo

A new, evolutionary explanation of markets and investor behavior
Half of all Americans have money in the stock market, yet economists can’t agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe―and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist.
Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn’t wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo’s new paradigm explains how financial evolution shapes behavior and markets at the speed of thought―a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation.
A fascinating intellectual journey filled with compelling stories, Adaptive Markets starts with the origins of market efficiency and its failures, turns to the foundations of investor behavior, and concludes with practical implications―including how hedge funds have become the Galápagos Islands of finance, what really happened in the 2008 meltdown, and how we might avoid future crises.
An ambitious new answer to fundamental questions in economics, Adaptive Markets is essential reading for anyone who wants to know how markets really work.

Winning the Loser’s Game, Seventh Edition: Timeless Strategies for Successful Investing by Charles D. Ellis

The go-to guide for serious investors seeking long-term success, Winning the Loser’s Game explains clearly the all-important lessons learned over half a century working with the world’s leading investment experts.
Called “Wall Street’s wisest man” by Money magazine, Charles Ellis converts the expertise he has developed as a consultant to the world’s largest pension, endowment and sovereign wealth funds and as a teacher at Harvard, Yale and Princeton into candid, pithy, easy to use chapters on how to succeed as an investor.
This final edition of this popular book?it has already sold over 500,000 copies?is packed with important up to the minute facts and insights into…
• Why indexing continues to out-perform “active” indexing.
• Why fees are much higher than most of us realize.
• How 401(k) plans can and should be modernized.
• Why understanding behavioral economics is so important for all investors.
With Winning the Loser’s Game, you have anything you need to identify your unique investment objectives, develop a realistic and powerful investment program, and enjoy superior results.
In 2 – 3 hours of easy reading, you can have the same informed and candid advice that his clients gladly pay big fees to get from Charles Ellis. You’ll also have fun.

Financially Stupid People Are Everywhere: Don’t Be One Of Them by Jason Kelly

A hard-hitting look at achieving financial freedom by avoiding excessive borrowing and spending
If you don’t actively resist America’s culture of debt, you’ll end up precisely where the government, banks, and big business want you to be: indentured servitude. The mistakes people make with their money are basic, and avoidable, and unless you understand what they are, you’re probably going to repeat them. What you need is someone who can shed light on the obstacles we face and show you how to avoid getting tripped up by them.
Financially Stupid People Are Everywhere shows how society is rigged to take as much of your wealth as possible, and simple ways you can resist. It investigates, explains, and offers advice for all those who have fallen into debt, taken a second mortgage, been trapped by credit cards, or found themselves unable to get ahead.
Discusses what you can do to stop the destructive cycle of borrowing and spending
Illustrates the four major tenets of getting money right
Highlights how to avoid the many ways that government, banks, and big business try to trap you with debt
To secure your financial future, you must break the dangerous cycle of borrowing and spending, and learn how to guard your wealth against corporate ploys. Financially Stupid People Are Everywhere leads you down the only proven path to financial freedom.

Alicia Micklethwait, Patricia Dimond – Driven to the Brink: Why Corporate Governance, Board Leadership and Culture Matter

Driven to the Brink is a collection of short stories about corporate disasters and how inadequate governance and flawed culture caused a massive destruction of shareholder value.
Look at any major corporate meltdown and two factors emerge: a failure of corporate governance and a culture where short-termism and greed are rewarded and risk is encouraged to flourish unchecked.
Two years before the latest crash, Alicia Micklethwait co-wrote the best-selling Greed and Corporate Failure which examined some of the high profile corporate disasters of the early years of the 21st century. Sadly those lessons were forgotten. Companies have continued to be Driven to the Brink of disaster.
Now, with co-author Patty Dimond, they examine what we must learn this time around. Drawing on in-depth case studies of the Libor scandal, Olympus, Co-op, Kids Company and others, Dimond and Micklethwait ask what have we learned and more importantly, what can we do to prevent these disasters from happening again?
They also examine the large, emerging and less widely understood world of Corporate China with detailed discussion of the Lixel and Glaxo frauds. On a positive note, staying with China, they look at the story of Alibaba and ask is an ethical culture enough to protect shareholder rights?

Groups and Markets: General Equilibrium with Multi-member Households By Prof. Dr. Hans Gersbach, Prof. Dr. Hans Haller

This monograph studies multi-member households or, more generally, socio-economic groups from a purely theoretical perspective and within a general equilibrium framework, in contrast to a sizeable empirical literature. The approach is based on the belief that households, their composition, decisions and behavior within a competitive market economy deserve thorough examination.
The authors set out to link the formation, composition, decision-making, and stability of households. They develop general equilibrium models of pure exchange economies in which households can have several, typically heterogeneous members and act as collective decision-making units on the one hand and as competitive market participants on the other hand. Moreover, the more advanced models combine traditional exchange (markets for commodities) and matching (markets for people or partners) and develop implications for welfare, social structures, and economic policy.
In the field of family economics, Hans Haller and Hans Gersbach have pioneered a ‘market’ approach that applies the tools of general equilibrium theory to the analysis of household behavior. This very interesting book presents an overview of their methods and results. This is an inspiring work.
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