The Inefficient Stock Market : What Pays Off and Why （2ND）

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The Inefficient Stock Market : What Pays Off and Why （2ND）

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  • 製本 Paperback:紙装版/ペーパーバック版／ページ数 138 p.
  • 言語 ENG
  • 商品コード 9780130323668
  • DDC分類 332.6322

Full Description


Intended for Financial Markets and Institutions, and Money and Capital Markets courses at the undergraduate level. Sparked with wit and humor, this clever and insightful text provides clear evidence that the stock market is inefficient. In the author's view, important aspects of market behavior cannot be explained by models based on rational economic behavior. Would you be interested in a supplement that explores evidence that markets may be inefficient? If so, how might this affect investments decisions?

Contents

1. Introduction. I. WHAT. 2. Estimating Expected Return with the Theories of Modern Finance. 3. Estimating Portfolio Risk and Expected Return with Ad Hoc Factor Models. 4. Payoffs to the Five Families. 5. Predicting Future Stock Returns with the Expected-Return Factor Model. 6. Counterattack-The First Wave. 7. Super Stocks and Stupid Stocks. 8. The International Results. II. WHY. 9. The Topography of the Stock Market. 10. The Positive Payoffs to Cheapness and Profitability. 11. The Negative Payoff to Risk. 12. The Forces Behind the Technical Payoffs to Price History. 13. Counterattack-The Second Wave. 14. The Roads to Heaven and Hell. 15. The Wrong 20-Yard Line.