Moving beyond modern portfolio theory : investing that matters

著者

• Lukomnik, Jon

書誌事項

Moving beyond modern portfolio theory : investing that matters

Jon Lukomnik and James P. Hawley

Routledge, 2021

注記

Includes bibliographical references and index

Summary: "Moving Beyond Modern Portfolio Theory: Investing That Matters tells the story of how Modern Portfolio Theory (MPT) revolutionized the investing world and the real economy, but is now showing its age. MPT has no mechanism to understand its impacts on the environmental, social and financial systems, nor any tools for investors to mitigate the havoc that systemic risks can wreck on their portfolios. It's time for MPT to evolve. The authors propose a new imperative to improve finance's ability to fulfil its twin main purposes: providing adequate returns to individuals and directing capital to where it is needed in the economy. They show how some of the largest investors in the world focus not on picking stocks, but on mitigating systemic risks, such as climate change and a lack of gender diversity, so as to improve the risk/return of the market as a whole, despite current theory saying that should be impossible. "Moving beyond MPT" recognizes the complex relations between investing and the systems on wh

内容説明・目次

内容説明

Moving Beyond Modern Portfolio Theory: Investing That Matters tells the story of how Modern Portfolio Theory (MPT) revolutionized the investing world and the real economy, but is now showing its age. MPT has no mechanism to understand its impacts on the environmental, social and financial systems, nor any tools for investors to mitigate the havoc that systemic risks can wreck on their portfolios. It's time for MPT to evolve. The authors propose a new imperative to improve finance's ability to fulfil its twin main purposes: providing adequate returns to individuals and directing capital to where it is needed in the economy. They show how some of the largest investors in the world focus not on picking stocks, but on mitigating systemic risks, such as climate change and a lack of gender diversity, so as to improve the risk/return of the market as a whole, despite current theory saying that should be impossible. "Moving beyond MPT" recognizes the complex relations between investing and the systems on which capital markets rely, "Investing that matters" embraces MPT's focus on diversification and risk adjusted return, but understands them in the context of the real economy and the total return needs of investors. Whether an investor, an MBA student, a Finance Professor or a sustainability professional, Moving Beyond Modern Portfolio Theory: Investing That Matters is thought-provoking and relevant. Its bold critique shows how the real world already is moving beyond investing orthodoxy.

目次

Introduction 1. The MPT Revolution Devours Its Children 2. The MPT Paradox 3. Short-Termism 4. Everything Old Is New Again 5. From Dividends in Nutmeg to Creating $5 Trillion Conclusion Bibliography

「Nielsen BookData」 より

詳細情報

• NII書誌ID(NCID): BC04291479
• ISBN:
  • 9780367760823
• LCCN: 2020049100
• 出版国コード: uk
• タイトル言語コード: eng
• 本文言語コード: eng
• 出版地: Abingdon, Oxon ; New York, NY
• ページ数/冊数: volumes cm
• 分類:
  • LCC : HG4521
  • DC23 : 332.601
  • DC23 : 332.6
• 件名:
  • LCSH : Investments
  • LCSH : Portfolio management