Capital Ideas Evolving

Author : Peter L. Bernstein
Publisher : John Wiley & Sons
Page : 320 pages
File Size : 52,7 Mb
Release : 2007-05-04
Category : Business & Economics
ISBN : STANFORD:36105123373834

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Capital Ideas Evolving by Peter L. Bernstein Pdf

In all of history and in all fields of intellectual endeavor, a tension has existed between theory and practice. Those of us who earn a living in the real world seldom want to appear as slaves to some set of abstract ideas. It was no surprise, therefore, that the word "baloney" was Wall Street's greeting to the pioneering theories of finance developed by a small group of academics in their ivory towers during the years from 1954 to 1972. Yet those breakthrough theories would in time earn five Nobel Prizes in Economic Science. Baloney they were not. In Capital Ideas Evolving, today's foremost financial historian expands upon his groundbreaking book of 1992, Capital Ideas: The Improbable Origins of Modern Wall Street, to recount how these financial theories finally migrated from the towers of ivory to the towers of glass on Wall Street and other financial centers around the world. The result has been a global revolution in the nature of financial markets, the menu of investment strategies, the development of exotic financial instruments, and the role of an uncertain future in all investment decisions. Even the academics who originally developed these theories are active today in the markets and in the creation of new financial structures and strategies. The opening pages of Capital Ideas Evolving confront the attack on these theories from researchers in Behavioral Finance, who argue that the theoretical assumptions of fully rational investors are a far cryfrom reality. Bernstein finds strong positive conse-quences in the daily interaction between these critics and the impact of financial theory. Based on personal interviews with leading practitioners and theorists—including five of those who played a prominent role in Capital Ideas—this book also describes how today's key practical applications developed from the core ideas of finance theory into the new and exciting formats of the investment process found in today's environment. This story includes the startling success of a group of leading institutional investors, all of whom developed their strategies from a base composed of the principles once categorized as "baloney." As Bernstein traverses between financial theory and a history of modern financial innovation, he gives us a vivid and enlightening view of today's investment world. This engaging and insightful book brings to life the individuals, ideas, and issues that are transforming the financial landscape.

Author : Peter L. Bernstein
Publisher : Wiley
Page : 325 pages
File Size : 49,8 Mb
Release : 2012-10-31
Category : Business & Economics
ISBN : 1118519701

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Peter L. Bernstein Classics Collection by Peter L. Bernstein Pdf

Author : Peter L. Bernstein
Publisher : John Wiley & Sons
Page : 375 pages
File Size : 53,9 Mb
Release : 2012-09-11
Category : Business & Economics
ISBN : 9781118523988

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Capital Ideas by Peter L. Bernstein Pdf

Capital Ideas traces the origins of modern Wall Street, from the pioneering work of early scholars and the development of new theories in risk, valuation, and investment returns, to the actual implementation of these theories in the real world of investment management. Bernstein brings to life a variety of brilliant academics who have contributed to modern investment theory over the years: Louis Bachelier, Harry Markowitz, William Sharpe, Fischer Black, Myron Scholes, Robert Merton, Franco Modigliani, and Merton Miller. Filled with in-depth insights and timeless advice, Capital Ideas reveals how the unique contributions of these talented individuals profoundly changed the practice of investment management as we know it today.

Author : Peter L. Bernstein
Publisher : Wiley + ORM
Page : 370 pages
File Size : 54,8 Mb
Release : 2011-01-31
Category : Business & Economics
ISBN : 9781118046203

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Capital Ideas Evolving by Peter L. Bernstein Pdf

"A lot has happened in the financial markets since 1992, when Peter Bernstein wrote his seminal Capital Ideas. Happily, Peter has taken up his facile pen again to describe these changes, a virtual revolution in the practice of investing that relies heavily on complex mathematics, derivatives, hedging, and hyperactive trading. This fine and eminently readable book is unlikely to be surpassed as the definitive chronicle of a truly historic era." John C. Bogle, founder of The Vanguard Group and author, The Little Book of Common Sense Investing "Just as Dante could not have understood or survived the perils of the Inferno without Virgil to guide him, investors today need Peter Bernstein to help find their way across dark and shifting ground. No one alive understands Wall Street's intellectual history better, and that makes Bernstein our best and wisest guide to the future. He is the only person who could have written this book; thank goodness he did." Jason Zweig, Investing Columnist, Money magazine "Another must-read from Peter Bernstein! This well-written and thought-provoking book provides valuable insights on how key finance theories have evolved from their ivory tower formulation to profitable application by portfolio managers. This book will certainly be read with keen interest by, and undoubtedly influence, a wide range of participants in international finance." Dr. Mohamed A. El-Erian, President and CEO of Harvard Management Company, Deputy Treasurer of Harvard University, and member of the faculty of the Harvard Business School "Reading Capital Ideas Evolving is an experience not to be missed. Peter Bernstein's knowledge of the principal characters-the giants in the development of investment theory and practice-brings this subject to life." Linda B. Strumpf, Vice President and Chief Investment Officer, The Ford Foundation "With great clarity, Peter Bernstein introduces us to the insights of investment giants, and explains how they transformed financial theory into portfolio practice. This is not just a tale of money and models; it is a fascinating and contemporary story about people and the power of their ideas." Elroy Dimson, BGI Professor of Investment Management, London Business School "Capital Ideas Evolving provides us with a unique appreciation for the pervasive impact that the theory of modern finance has had on the development of our capital markets. Peter Bernstein once again has produced a masterpiece that is must reading for practitioners, educators and students of finance." Andr F. Perold, Professor of Finance, Harvard Business School

Author : Jeffrey M. Chwieroth
Publisher : Princeton University Press
Page : 332 pages
File Size : 43,7 Mb
Release : 2009-12-14
Category : Business & Economics
ISBN : 9781400833825

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Capital Ideas by Jeffrey M. Chwieroth Pdf

The right of governments to employ capital controls has always been the official orthodoxy of the International Monetary Fund, and the organization's formal rules providing this right have not changed significantly since the IMF was founded in 1945. But informally, among the staff inside the IMF, these controls became heresy in the 1980s and 1990s, prompting critics to accuse the IMF of indiscriminately encouraging the liberalization of controls and precipitating a wave of financial crises in emerging markets in the late 1990s. In Capital Ideas, Jeffrey Chwieroth explores the inner workings of the IMF to understand how its staff's thinking about capital controls changed so radically. In doing so, he also provides an important case study of how international organizations work and evolve. Drawing on original survey and archival research, extensive interviews, and scholarship from economics, politics, and sociology, Chwieroth traces the evolution of the IMF's approach to capital controls from the 1940s through spring 2009 and the first stages of the subprime credit crisis. He shows that IMF staff vigorously debated the legitimacy of capital controls and that these internal debates eventually changed the organization's behavior--despite the lack of major rule changes. He also shows that the IMF exercised a significant amount of autonomy despite the influence of member states. Normative and behavioral changes in international organizations, Chwieroth concludes, are driven not just by new rules but also by the evolving makeup, beliefs, debates, and strategic agency of their staffs.

Author : Tom Nicholas
Publisher : Harvard University Press
Page : 401 pages
File Size : 48,7 Mb
Release : 2019-06-03
Category : Business & Economics
ISBN : 9780674988002

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VC by Tom Nicholas Pdf

From nineteenth-century whaling to a multitude of firms pursuing entrepreneurial finance today, venture finance reflects a deep-seated tradition in the deployment of risk capital in the United States. Tom Nicholas’s history of the venture capital industry offers a roller coaster ride through America’s ongoing pursuit of financial gain.

Author : Peter L. Bernstein
Publisher : LibreDigital
Page : 192 pages
File Size : 52,7 Mb
Release : 2008-09-02
Category : Business & Economics
ISBN : 0470384220

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A Primer on Money, Banking, and Gold (Peter L. Bernstein's Finance Classics) by Peter L. Bernstein Pdf

One of the foremost financial writers of his generation, Peter Bernstein has the unique ability to synthesize intellectual history and economics with the theory and practice of investment management. Now, with classic titles such as Economist on Wall Street, A Primer on Money, Banking, and Gold, and The Price of Prosperitya??which have forewords by financial luminaries and new introductions by the authora??you can enjoy some of the best of Bernstein in his earlier Wall Street days. With the proliferation of financial instruments, new areas of instability, and innovative capital market strategies, many economists and investors have lost sight of the fundamentals of the financial systema??its strengths as well as its weaknesses. A Primer on Money, Banking, and Gold takes you back to the beginning and sorts out all the pieces. Peter Bernstein skillfully addresses how and why commercial banks lend and invest, where money comes from, how it moves from hand to hand, and the critical role of interest rates. He explores the Federal Reserve System and the consequences of the Fed's actions on the overall economy. But this book is not just about the past. Bernstein's novel perspective on gold and the dollar is critical for today's decision makers, as he provides extensive views on the future of money, banking, and gold in the world economy. This illuminating story about the heart of our economic system is essential reading at a time when developments in finance are more important than ever.

Author : Peter L. Bernstein
Publisher : John Wiley & Sons
Page : 228 pages
File Size : 40,7 Mb
Release : 2008-10-03
Category : Business & Economics
ISBN : 9780470435199

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Economist on Wall Street (Peter L. Bernstein's Finance Classics) by Peter L. Bernstein Pdf

One of the foremost financial writers of his generation, Peter Bernstein has the unique ability to synthesize intellectual history and economics with the theory and practice of investment management. Now, with classic titles such as Economist on Wall Street, A Primer on Money, Banking, and Gold, and The Price of Prosperity—which have forewords by financial luminaries and new introductions by the author—you can enjoy some of the best of Bernstein in his earlier Wall Street days. Peter Bernstein's Economist on Wall Street is a collection of writings from 1955 to 1970. The book is especially interesting because so many of Bernstein's observations reflect the most important issues of the present—the outlook for inflation and its control, the intricacies of monetary policy, the future of the dollar, and the dilemmas of household finances. Bernstein was also concerned with developments in portfolio management, including the new influence of institutional investors and rules for optimal asset mixes. He provides light touches, too, as he indulges in fantasies and philosophical musings over a wide variety of topics. With so many years of hindsight, we should not be surprised to find some of Bernstein's predictions running awry. But why? In each instance, these forecasts were biased by memories of the past. There is a big lesson to be learned there. Economist on Wall Street is a remarkable book, with lasting relevance and keen insights into the art of investment management, the capital markets, gold and the dollar, and the fun of being alive.

Author : Andrew Waldron
Publisher : Figure 1 Publishing
Page : 471 pages
File Size : 40,5 Mb
Release : 2017-05-31
Category : Architecture
ISBN : 9781773270074

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Exploring the Capital by Andrew Waldron Pdf

The many and varied threads of Canada’s national life come together in its capital region. Where the Rideau River flows into the Ottawa River, an Algonquin community was visited by French explorers and settled by British colonists. The town grew into a city, spilled over a provincial border, and now represents Canada to the world. Ottawa is a seat of government and has all the official edifices to show for it. But as Andrew Waldron shows you in Exploring the Capital, it’s a lot more than that. Follow the twelve guided-tours covering all corners of the region in Ontario and Quebec and you’ll encounter homes and schools, cultural sites and green spaces, houses of worship and shrines to commerce. Early houses, humble or magnificent, from the era of the lumber barons can be found steps away from the latest in sleek condominiums and office towers built for sustainability. Waldron takes you behind the doors of more than 390 diverse structures to learn who made them, how, and why. Exploring the Capital is for architectural experts and amateurs, and for residents and visitors alike. Visit Ottawa’s landmarks and neighbourhoods through its stories, maps, and photographs, and learn how great design and engineering turn landscapes into cityscapes.

Author : Jonathan Nitzan,Shimshon Bichler
Publisher : Routledge
Page : 464 pages
File Size : 43,5 Mb
Release : 2009-06-02
Category : Political Science
ISBN : 9781134022298

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Capital as Power by Jonathan Nitzan,Shimshon Bichler Pdf

Conventional theories of capitalism are mired in a deep crisis: after centuries of debate, they are still unable to tell us what capital is. Liberals and Marxists both think of capital as an ‘economic’ entity that they count in universal units of ‘utils’ or ‘abstract labour’, respectively. But these units are totally fictitious. Nobody has ever been able to observe or measure them, and for a good reason: they don’t exist. Since liberalism and Marxism depend on these non-existing units, their theories hang in suspension. They cannot explain the process that matters most – the accumulation of capital. This book offers a radical alternative. According to the authors, capital is not a narrow economic entity, but a symbolic quantification of power. It has little to do with utility or abstract labour, and it extends far beyond machines and production lines. Capital, the authors claim, represents the organized power of dominant capital groups to reshape – or creorder – their society. Written in simple language, accessible to lay readers and experts alike, the book develops a novel political economy. It takes the reader through the history, assumptions and limitations of mainstream economics and its associated theories of politics. It examines the evolution of Marxist thinking on accumulation and the state. And it articulates an innovative theory of ‘capital as power’ and a new history of the ‘capitalist mode of power’.

Author : Peter L. Bernstein
Publisher : John Wiley & Sons
Page : 1512 pages
File Size : 55,5 Mb
Release : 2012-10-04
Category : Business & Economics
ISBN : 9781118519561

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Peter L. Bernstein Classics Collection by Peter L. Bernstein Pdf

A classic collection of titles from one of the world's greatestfinancial writers One of the foremost financial writers of his generation, thelate Peter Bernstein had the unique ability to synthesizeintellectual history and economics with the theory and practice ofinvestment management. Now, with the Peter L. Bernstein ClassicsCollection e-bundle, you will be able to enjoy some of the mostimportant and critically acclaimed books by this engaginginvestment writer—Capital Ideas, Against the Gods, ThePower of Gold, and Capital Ideas Evolving. Capital Ideas and Capital Ideas Evolving tracesthe origins of modern Wall Street, from the pioneering work ofearly scholars and the development of new theories in risk,valuation, and investment returns, to the actual implementation ofthese theories in the real world of investment management Against the Gods skillfully explores one of the mostprofound issues of our time—the role of risk in oursociety—in a non-technical and accessible style The Power of Gold tells the story of how history's mostcoveted, celebrated, and inglorious asset has inspired romanticmyths, daring explorations, and titanic struggles for money andpower Engaging and informative, Peter L. Bernstein ClassicsCollection puts the insights of one of the greatest financialwriters of our time at your fingertips.

Author : Jonathan Haskel,Stian Westlake
Publisher : Princeton University Press
Page : 292 pages
File Size : 55,7 Mb
Release : 2018-10-16
Category : Business & Economics
ISBN : 9780691183299

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Capitalism without Capital by Jonathan Haskel,Stian Westlake Pdf

Early in the twenty-first century, a quiet revolution occurred. For the first time, the major developed economies began to invest more in intangible assets, like design, branding, and software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, the ability to deploy assets that one can neither see nor touch is increasingly the main source of long-term success. But this is not just a familiar story of the so-called new economy. Capitalism without Capital shows that the growing importance of intangible assets has also played a role in some of the larger economic changes of the past decade, including the growth in economic inequality and the stagnation of productivity. Jonathan Haskel and Stian Westlake explore the unusual economic characteristics of intangible investment and discuss how an economy rich in intangibles is fundamentally different from one based on tangibles. Capitalism without Capital concludes by outlining how managers, investors, and policymakers can exploit the characteristics of an intangible age to grow their businesses, portfolios, and economies.

Author : Andy Hargreaves,Michael Fullan
Publisher : Teachers College Press
Page : 241 pages
File Size : 50,9 Mb
Release : 2015-04-24
Category : Education
ISBN : 9780807771709

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Professional Capital by Andy Hargreaves,Michael Fullan Pdf

The future of learning depends absolutely on the future of teaching. In this latest and most important collaboration, Andy Hargreaves and Michael Fullan show how the quality of teaching is captured in a compelling new idea: the professional capital of every teacher working together in every school. Speaking out against policies that result in a teaching force that is inexperienced, inexpensive, and exhausted in short order, these two world authorities--who know teaching and leadership inside out--set out a groundbreaking new agenda to transform the future of teaching and public education. Ideas-driven, evidence-based, and strategically powerful, Professional Capital combats the tired arguments and stereotypes of teachers and teaching and shows us how to change them by demanding more of the teaching profession and more from the systems that support it. This is a book that no one connected with schools can afford to ignore. This book features: (1) a powerful and practical solution to what ails American schools; (2) Action guidelines for all groups--individual teachers, administrators, schools and districts, state and federal leaders; (3) a next-generation update of core themes from the authors' bestselling book, "What's Worth Fighting for in Your School?" [This book was co-published with the Ontario Principals' Council.].

Author : Amar V. Bhide
Publisher : Oxford University Press
Page : 433 pages
File Size : 44,7 Mb
Release : 2003-10-16
Category : Business & Economics
ISBN : 9780198030102

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The Origin and Evolution of New Businesses by Amar V. Bhide Pdf

What is this mysterious activity we call entrepreneurship? Does success require special traits and skills or just luck? Can large companies follow their example? What role does venture capital play? In a field dominated by anecdote and folklore, this landmark study integrates more than ten years of intensive research and modern theories of business and economics. The result is a comprehensive framework for understanding entrepreneurship that provides new and penetrating insights. Examining hundreds of successful ventures, the author finds that the typical business has humble, improvised origins. Well-planned start-ups, backed by substantial venture capital, are exceptional. Entrepreneurs like Bill Gates and Sam Walton initially pursue small, uncertain opportunities, without much capital, market research, or breakthrough technologies. Coping with ambiguity and surprises, face-to-face selling, and making do with second-tier employees is more important than foresight, deal-making, or recruiting top-notch teams. Transforming improvised start-ups into noteworthy enterprises requires a radical shift, from "opportunistic adaptation" in niche markets to the pursuit of ambitious strategies. This requires traits such as ambition and risk-taking that are initially unimportant. Mature corporations have to pursue entrepreneurial activity in a much more disciplined way. Companies like Intel and Merck focus their resources on large-scale initiatives that scrappy entrepreneurs cannot undertake. Their success requires carefully chosen bets, meticulous planning, and the smooth coordination of many employees rather than the talents of a driven few. This clearly and concisely written book is essential for anyone who wants to start a business, for the entrepreneur or executive who wants to grow a company, and for the scholar who wants to understand this crucial economic activity.

Author : Peter L. Bernstein
Publisher : Wiley
Page : 0 pages
File Size : 41,5 Mb
Release : 2005-10-04
Category : Business & Economics
ISBN : 0471736252

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Peter L. Bernstein Classics Boxed Set by Peter L. Bernstein Pdf

One of the foremost financial writers of his generation, Peter Bernstein has the unique ability to synthesize intellectual history and economics with the theory and practice of investment management. Now, with this one-of-a-kind boxed set, you will be able to enjoy three of the most important and critically acclaimed books by this engaging investment writer -- Capital Ideas, Against the Gods, and The Power of Gold. Read Capital Ideasand trace the origins of modern Wall Street. Read the bestseller Against the Gods and learn how risk taking propelled the progress of science and enterprise into the modern world. Read The Power of Gold for the story of history?s most coveted, celebrated, and inglorious asset. Order the set today.