Efficiently Inefficient
Title | Efficiently Inefficient PDF eBook |
Author | Lasse Heje Pedersen |
Publisher | Princeton University Press |
Total Pages | 368 |
Release | 2019-09-17 |
Genre | Business & Economics |
ISBN | 0691196095 |
Efficiently Inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money--and why they sometimes don't. Pedersen views markets as neither perfectly efficient nor completely inefficient. Rather, they are inefficient enough that money managers can be compensated for their costs through the profits of their trading strategies and efficient enough that the profits after costs do not encourage additional active investing. Understanding how to trade in this efficiently inefficient market provides a new, engaging way to learn finance. Pedersen analyzes how the market price of stocks and bonds can differ from the model price, leading to new perspectives on the relationship between trading results and finance theory. He explores several different areas in depth--fundamental tools for investment management, equity strategies, macro strategies, and arbitrage strategies--and he looks at such diverse topics as portfolio choice, risk management, equity valuation, and yield curve logic. The book's strategies are illuminated further by interviews with leading hedge fund managers: Lee Ainslie, Cliff Asness, Jim Chanos, Ken Griffin, David Harding, John Paulson, Myron Scholes, and George Soros.
Efficiently Inefficient
Title | Efficiently Inefficient PDF eBook |
Author | Lasse Heje Pedersen |
Publisher | Princeton University Press |
Total Pages | 369 |
Release | 2015-04-13 |
Genre | Business & Economics |
ISBN | 1400865735 |
Financial market behavior and key trading strategies—illuminated by interviews with top hedge fund experts Efficiently Inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money—and why they sometimes don't. Pedersen views markets as neither perfectly efficient nor completely inefficient. Rather, they are inefficient enough that money managers can be compensated for their costs through the profits of their trading strategies and efficient enough that the profits after costs do not encourage additional active investing. Understanding how to trade in this efficiently inefficient market provides a new, engaging way to learn finance. Pedersen analyzes how the market price of stocks and bonds can differ from the model price, leading to new perspectives on the relationship between trading results and finance theory. He explores several different areas in depth—fundamental tools for investment management, equity strategies, macro strategies, and arbitrage strategies—and he looks at such diverse topics as portfolio choice, risk management, equity valuation, and yield curve logic. The book’s strategies are illuminated further by interviews with leading hedge fund managers: Lee Ainslie, Cliff Asness, Jim Chanos, Ken Griffin, David Harding, John Paulson, Myron Scholes, and George Soros. Efficiently Inefficient effectively demonstrates how financial markets really work. Free problem sets are available online at http://www.lhpedersen.com
Efficiently Inefficient
Title | Efficiently Inefficient PDF eBook |
Author | Lasse Heje Pedersen |
Publisher | Princeton University Press |
Total Pages | 368 |
Release | 2015-04-13 |
Genre | Business & Economics |
ISBN | 0691166196 |
Financial market behavior and key trading strategies—illuminated by interviews with top hedge fund experts Efficiently Inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money—and why they sometimes don't. Pedersen views markets as neither perfectly efficient nor completely inefficient. Rather, they are inefficient enough that money managers can be compensated for their costs through the profits of their trading strategies and efficient enough that the profits after costs do not encourage additional active investing. Understanding how to trade in this efficiently inefficient market provides a new, engaging way to learn finance. Pedersen analyzes how the market price of stocks and bonds can differ from the model price, leading to new perspectives on the relationship between trading results and finance theory. He explores several different areas in depth—fundamental tools for investment management, equity strategies, macro strategies, and arbitrage strategies—and he looks at such diverse topics as portfolio choice, risk management, equity valuation, and yield curve logic. The book’s strategies are illuminated further by interviews with leading hedge fund managers: Lee Ainslie, Cliff Asness, Jim Chanos, Ken Griffin, David Harding, John Paulson, Myron Scholes, and George Soros. Efficiently Inefficient effectively demonstrates how financial markets really work. Free problem sets are available online at http://www.lhpedersen.com
This is Lean
Title | This is Lean PDF eBook |
Author | Niklas Modig |
Publisher | CENTRAL BOOKS |
Total Pages | 0 |
Release | 2012 |
Genre | Business logistics |
ISBN | 9789198039306 |
This book is relevant to any kind of business and is currently being used by a number of multi-national companies, including AstraZeneca, Ericsson, Scania and Volvo.
Market Liquidity
Title | Market Liquidity PDF eBook |
Author | Yakov Amihud |
Publisher | Cambridge University Press |
Total Pages | 293 |
Release | 2013 |
Genre | Business & Economics |
ISBN | 0521191769 |
This book explores the effect of liquidity on asset prices, liquidity variations over time and how liquidity risk affects prices.
Health System Efficiency
Title | Health System Efficiency PDF eBook |
Author | Jonathan Cylus |
Publisher | Health Policy |
Total Pages | 264 |
Release | 2016-12-15 |
Genre | Medical |
ISBN | 9789289050418 |
In this book the authors explore the state of the art on efficiency measurement in health systems and international experts offer insights into the pitfalls and potential associated with various measurement techniques. The authors show that: - The core idea of efficiency is easy to understand in principle - maximizing valued outputs relative to inputs, but is often difficult to make operational in real-life situations - There have been numerous advances in data collection and availability, as well as innovative methodological approaches that give valuable insights into how efficiently health care is delivered - Our simple analytical framework can facilitate the development and interpretation of efficiency indicators.
Asset Management
Title | Asset Management PDF eBook |
Author | Andrew Ang |
Publisher | Financial Management Associati |
Total Pages | 717 |
Release | 2014 |
Genre | Business & Economics |
ISBN | 0199959323 |
Stocks and bonds? Real estate? Hedge funds? Private equity? If you think those are the things to focus on in building an investment portfolio, Andrew Ang has accumulated a body of research that will prove otherwise. In this book, Ang upends the conventional wisdom about asset allocation by showing that what matters aren't asset class labels but the bundles of overlapping risks they represent.