The inefficient stock market : what pays off and why
著者
書誌事項
The inefficient stock market : what pays off and why
Prentice Hall, c1999
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注記
Includes bibliographical references
内容説明・目次
内容説明
Sparked with wry wit and humor, this clever and insightful text provides clear and undeniable evidence that the stock market is, in the author's view, inefficient, and that important aspects of market behavior cannot be explained by models based on rational economic behavior. Intended for Financial Markets and Institutions, and Money and Capitals Markets courses at the undergraduate level. *Tackles important issues in today's financial market in a highly conversational and entertaining manner that will appeal to most students, with relatively short, 'punchy' paragraphs that entice readers to go on. *Provides clear explanations of the CAPM and the APT. *Analyzes the characteristics of individual stocks that are associated with high returns. *Predicts international stock returns. *Considers why cheap, profitable, and low risk stocks tend to produce a high return. *Looks into such areas as the payoffs to risk liability, profitability, and a stock's performance in past periods.
目次
Introduction. I. WHAT. Estimating Expected Return with the Theories of Modern Finance. Estimating Portfolio Risk and Expected Return with Expected Return Factor Models. Payoffs to the Five Families. Predicting Future Stock Returns with the Expected Return Factor Model. Counter-Attack - The First Wave. Super Stocks and Stupid Stocks. The International Results. II. WHY. The Topography of the Stock Market. The Positive Payoffs to Cheapness and Profitability. The Negative Payoff to Risk. The Forces Behind the Technical Payoffs to Price-History. Counter-Attack - The Second Wave. The Roads to Heaven and Hell. The Wrong Twenty Yard Line.
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