Investment Risk And Uncertainty

Author : Steven P. Greiner
Publisher : John Wiley & Sons
Page : 608 pages
File Size : 55,6 Mb
Release : 2013-03-14
Category : Business & Economics
ISBN : 9781118421413

Get Book

Investment Risk and Uncertainty by Steven P. Greiner Pdf

Valuable insights on the major methods used in today's asset and risk management arena Risk management has moved to the forefront of asset management since the credit crisis. However, most coverage of this subject is overly complicated, misunderstood, and extremely hard to apply. That's why Steven Greiner—a financial professional with over twenty years of quantitative and modeling experience—has written Investment Risk and Uncertainty. With this book, he skillfully reduces the complexity of risk management methodologies applied across many asset classes through practical examples of when to use what. Along the way, Greiner explores how particular methods can lower risk and mitigate losses. He also discusses how to stress test your portfolio and remove the exposure to regular risks and those from "Black Swan" events. More than just an explanation of specific risk issues, this reliable resource provides practical "off-the-shelf" applications that will allow the intelligent investor to understand their risks, their sources, and how to hedge those risks. Covers modern methods applied in risk management for many different asset classes Details the risk measurements of truly multi-asset class portfolios, while bridging the gap for managers in various disciplines—from equity and fixed income investors to currency and commodity investors Examines risk management algorithms for multi-asset class managers as well as risk managers, addressing new compliance issues and how to meet them The theory of risk management is hardly ever spelled out in practical applications that portfolio managers, pension fund advisors, and consultants can make use of. This book fills that void and will put you in a better position to confidently face the investment risks and uncertainties found in today's dynamic markets.

Author : Frank H. Knight
Publisher : Cosimo, Inc.
Page : 401 pages
File Size : 50,5 Mb
Release : 2006-11-01
Category : Business & Economics
ISBN : 9781602060050

Get Book

Risk, Uncertainty and Profit by Frank H. Knight Pdf

A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.

Author : Robert S. Pindyck
Publisher : World Bank Publications
Page : 58 pages
File Size : 50,7 Mb
Release : 1989
Category : Capital investments
ISBN : 8210379456XXX

Get Book

Irreversibility, Uncertainty, and Investment by Robert S. Pindyck Pdf

Irreversible investment is especially sensitive to such risk factors as volatile exchange rates and uncertainty about tariff structures and future cash flows. If the goal of macroeconomic policy is to stimulate investment, stability and credibility may be more important than tax incentives or interest rates.

Author : Robert K. Dixit,Robert S. Pindyck
Publisher : Princeton University Press
Page : 484 pages
File Size : 44,5 Mb
Release : 2012-07-14
Category : Business & Economics
ISBN : 9781400830176

Get Book

Investment under Uncertainty by Robert K. Dixit,Robert S. Pindyck Pdf

How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.

Author : Michael T. Carpenter
Publisher : John Wiley & Sons
Page : 278 pages
File Size : 40,5 Mb
Release : 2009-08-13
Category : Business & Economics
ISBN : 9780470530948

Get Book

The Risk-Wise Investor by Michael T. Carpenter Pdf

User-friendly risk management tools, tips, and techniques for a less certain world Though a very high level of investor uncertainty, anxiety, and concern about risk now exists, the vast majority of investors do not genuinely understand investment risk-let alone how to effectively manage it. The "Risk-Wise" Investor offers a totally new, user-friendly, non-technical way to help you better understand and manage uncertainty and risk. This practical guide will help investors avoid many common pitfalls and make well informed, knowledge-based decisions when facing uncertainty and risk. It also shows how to implement a personalized, systematic risk management planning process that will allow you to manage the risks you face more effectively and improve the likelihood of achieving specific investment goals. Though traditional investment advice is based on taking the long view and diversifying portfolios, the information here shows how to incorporate additional risk management considerations into your plans. It also provides innovative insights that will help investors and their advisors better understand how to Gain a practical, user-friendly, knowledge based understanding of risk and risk management Better understand and manage financial uncertainty and rapid change Release life-risk management skills in the world of investments Become less anxious, more knowledgeable, realistic, and potentially more successful investors Learn a new "empowering" definition of risk to more effectively address risk and uncertainty Help reduce the likelihood and potential impact of negative surprises

Author : Kent Osband
Publisher : Columbia University Press
Page : 306 pages
File Size : 42,6 Mb
Release : 2011
Category : Business & Economics
ISBN : 9780231151726

Get Book

Pandora's Risk by Kent Osband Pdf

Author of the acclaimed work Iceberg Risk: An Adventure in Portfolio Theory, Kent Osband argues that uncertainty is central rather than marginal to finance. Markets don't trade mainly on changes in risk. They trade on changes in beliefs about risk, and in the process, markets unite, stretch, and occasionally defy beliefs. Recognizing this truth would make a world of difference in investing. Belittling uncertainty has created a rift between financial theory and practice and within finance theory itself, misguiding regulation and stoking huge financial imbalances. Sparking a revolution in the mindset of the investment professional, Osband recasts the market as a learning machine rather than a knowledge machine. The market continually errs, corrects itself, and makes new errors. Respecting that process, without idolizing it, will promote wiser investment, trading, and regulation. With uncertainty embedded at its core, Osband's rational approach points to a finance theory worthy of twenty-first-century investing.

Author : Ciaran Driver,David Moreton
Publisher : Wiley-Blackwell
Page : 176 pages
File Size : 55,8 Mb
Release : 1992
Category : Business & Economics
ISBN : 063117334X

Get Book

Investment, Expectations, and Uncertainty by Ciaran Driver,David Moreton Pdf

Author : Pat O'Malley
Publisher : Routledge
Page : 292 pages
File Size : 48,7 Mb
Release : 2012-09-10
Category : Law
ISBN : 9781135311797

Get Book

Risk, Uncertainty and Government by Pat O'Malley Pdf

Both risk and uncertainty are neo-liberal concepts, which can be viewed as complementary techniques for governing diverse aspects of life, rather than natural states of things. This new book examines the way these constructs govern the production of wealth through 'uncertain' speculation and 'calculable' investment formulae. The way in which risk and uncertainty govern the minimisation of harms through insurance and through the uncertain practices of 'reasonable foresight' is discussed, and O Malley looks at the way these same techniques were historically forged out of moral and social beliefs about how to govern properly. In addition, the book analyzes is how, during this process, ideas such as 'contract' and distinctions between insurance and gambling were invented to order to 'properly' govern the risky and uncertain future.

Author : Organisation de coopération et de développement économiques. Département des affaires économiques et statistiques
Publisher : Unknown
Page : 293 pages
File Size : 49,7 Mb
Release : 1988
Category : Electronic
ISBN : 9264030158

Get Book

Foreing Trade by Commodities ... by Organisation de coopération et de développement économiques. Département des affaires économiques et statistiques Pdf

Author : Ian Charles Runge
Publisher : Edward Elgar Publishing
Page : 232 pages
File Size : 40,5 Mb
Release : 2000
Category : Business & Economics
ISBN : STANFORD:36105025050472

Get Book

Capital and Uncertainty by Ian Charles Runge Pdf

Analyzes capital investment as a process in which an individual, entrepreneur, or organization comes to understand "value" before making a choice. Runge, an economist and mining engineer based in Australia, maintains that subjective value and uncertainty inform investment decision-making far more than the calculus of simple neoclassical choice suggests. His model of the capital investment process within a firm analyzes uncertainty and where it translates into risk. Runge sets out theories and tools for choosing between alternatives with differing risk and return profiles. His model provides a framework for decision-making that can lead to choices with lower overall risk, higher returns, and increased value. Annotation copyrighted by Book News Inc., Portland, OR

Author : William Blyth,Ming Yang,Richard Bradley,International Energy Agency
Publisher : OECD Publishing
Page : 152 pages
File Size : 50,7 Mb
Release : 2007
Category : Business & Economics
ISBN : UOM:39015069233644

Get Book

Climate Policy Uncertainty and Investment Risk by William Blyth,Ming Yang,Richard Bradley,International Energy Agency Pdf

This publication examines how uncertainty in climate change policy may affect investment behaviour in the power sector and how the costs of transition to a low-carbon economy may be addressed. For power companies, where capital stock is intensive and long-lived, those risks rank among the biggest and can create an incentive to delay investment. The analysis show that the risk premiums of climate change uncertainty can add 40 per cent of construction costs of the plant for power investors, and 10 per cent of price surcharges for the electricity end-users. It also looks at the sensitivity of different power sector investment decisions to different risks and considers the implications for policy development and design.

Author : Jae K. Shim,Joel G. Siegel
Publisher : John Wiley & Sons
Page : 450 pages
File Size : 55,6 Mb
Release : 2008-12-03
Category : Business & Economics
ISBN : 9780470454350

Get Book

Budgeting Basics and Beyond by Jae K. Shim,Joel G. Siegel Pdf

If the very thought of budgets pushes your sanity over the limit, then this practical, easy-to-use guide is just what you need. Budgeting Basics and Beyond, Third Edition equips you with an all-in-one resource guaranteed to make the budgeting process easier, less stressful, and more effective. Written by Jae Shim and Joel Siegel, the new edition covers Balanced Scorecard, budgeting for nonprofit organizations, business simulations for executive and management training, and much more!

Author : Gerald Ashley
Publisher : John Wiley & Sons
Page : 188 pages
File Size : 43,5 Mb
Release : 2005-08-05
Category : Business & Economics
ISBN : 9780470864708

Get Book

Uncertainty and Expectation by Gerald Ashley Pdf

In this entertaining and thoughtful book, Gerald Ashley sets out to explain what trading is, and lays out a modus operandi for being a trader and investor. He draws upon market anecdotes and examples from the past, seeking to debunk many myths surrounding financial markets, and to try and make the reader understand the real processes, risks and rewards that drive investment. In particular he examines ideas in market and individual investor behaviour, and questions the usefulness of many of todays standard investment techniques including benchmarks, charts, analysts and 'gurus'. He also lays out simple precepts for understanding investment risk and suggests ideas for managing your investments in today's markets.

Author : Frank H. Knight
Publisher : Courier Corporation
Page : 450 pages
File Size : 52,7 Mb
Release : 2012-03-09
Category : Business & Economics
ISBN : 9780486147932

Get Book

Risk, Uncertainty and Profit by Frank H. Knight Pdf

DIVThis enduring economics text provided the theoretical basis of the entrepreneurial American economy during the post-industrial era. A revolutionary work, it taught the world how to systematically distinguish between risk and uncertainty. /div

Author : Haim Levy
Publisher : Springer Science & Business Media
Page : 439 pages
File Size : 51,5 Mb
Release : 2006-08-25
Category : Business & Economics
ISBN : 9780387293110

Get Book

Stochastic Dominance by Haim Levy Pdf

This book is devoted to investment decision-making under uncertainty. The book covers three basic approaches to this process: the stochastic dominance approach; the mean-variance approach; and the non-expected utility approach, focusing on prospect theory and its modified version, cumulative prospect theory. Each approach is discussed and compared. In addition, this volume examines cases in which stochastic dominance rules coincide with the mean-variance rule and considers how contradictions between these two approaches may occur.