The Lunacy Of Modern Finance Theory And Regulation

Author: Les Coleman
Publisher: Routledge
ISBN: 1317662024
Size: 75.67 MB
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The Lunacy Of Modern Finance Theory And Regulation from the Author: Les Coleman. This provocative book provides insight into a finance industry that is run for the benefit of banks and service providers who rely on Beatles-era theories and regulation which are totally unsuited to the modern world. The author has a near-unique perspective based on over 30 years of working – literally around the globe – for corporates, fund managers and as finance academic. In his last role his research has focused on investment decisions, and during 2012 he interviewed 34 fund managers in Istanbul, London, New York and Melbourne. He blends rich understanding of finance theory and practice to unravel the investment industry’s structure and show how banks and other finance institutions privilege themselves at investors’ expense. The book highlights that finance industry self-regulation is weak. Risks from inexpertise, theft, bad data and other sources are high. Regulation of the industry appears to be ineffectual with the setting of such a high bar that it is virtually impossible to successfully prosecute even the most blatant and egregious offenders. The book closes with the simple suggestion that corporations’ regulations be altered to introduce the strict liability offence of being a director or officer of a large bank that becomes bankrupt. This follows the strategy of legislation that has been effective in cleaning up the environment, making workplaces safer and reducing crime by punishing those responsible for an offence.

Applied Investment Theory

Author: Les Coleman
Publisher: Springer
ISBN: 3319439766
Size: 75.24 MB
Format: PDF, Mobi
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Applied Investment Theory from the Author: Les Coleman. Institutions now dominate trading in equities around the world. Mutual funds are the most prominent, and doubly important as custodians of retirement savings. Despite this, there is no comprehensive description of fund manager behaviour, much less a matching theory. This is troubling because one of the most economically significant puzzles in finance is why experienced, well-resourced fund managers cannot outperform the market. Applied Investment Theory: How Equity Markets Behave, and Why brings together academic research, empirical evidence and real market experience to provide new insights into equity markets and their behaviours. The book draws upon the author’s rich industry experience and academic research, plus over 40 interviews with fund managers on three continents and across different markets. The result is an innovative model that explains the puzzle of poor performance by mutual funds in terms of structural features of markets, the managed investment industry, and the conduct of fund managers. This book provides a fully integrated depiction of what markets and investors do, and why – insights that will resonate with the needs of investors, wealth managers and industry regulators. It is fully documented, but free of jargon and arcane math, and provides a grounded theory that is relevant to anyone who wants to pierce the opacity of mutual fund operations. Applied Investment Theory sets out a new paradigm in investment that is at the forefront of what should be an industrial-scale development of new finance theory following two decades of almost back-to-back financial crises.

Author: Ayn Rand
Publisher: Nash Format (PublishDrive)
ISBN: 6177388345
Size: 52.87 MB
Format: PDF, ePub, Docs
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from the Author: Ayn Rand. Уявіть, що ви народилися у першій половині ХХ століття в США і раптом виявили, що люди, маючи радіо, газети, кораблі та літаки, досі живуть у будинках, зведених у римському стилі. Вони не сприймають нічого, крім фронтонів, химерних статуеток, карнизів та колон... Відмовляються бачити прогрес. Саме в такій ситуації опиняється головний герой роману — талановитий архітектор Говард Рорк. Він навіть не намагається відкрити оточенню очі на абсурдність ситуації, а просто виконує свою роботу. Таких як він — тих, хто має власну думку — суспільство кличе егоїстами, вважає «хворими» і неправильними. Перед ним зачиняють двері і всіляко намагаються виштовхнути подалі від епіцентру архітектурного життя. Що ж вчинить герой та чи справді бути егоїстом погано?


Size: 26.27 MB
Format: PDF, ePub
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Bookseller from the Author: . Vols. for 1871-76, 1913-14 include an extra number, The Christmas bookseller, separately paged and not included in the consecutive numbering of the regular series.