The book offers a critical examination of the finance industry, highlighting how outdated Beatles-era theories and regulations favor banks and service providers over modern needs. Drawing on over 30 years of global experience in corporate finance, fund management, and academia, the author presents a unique perspective that challenges the status quo and advocates for necessary reforms in financial practices.
Focusing on a new perspective in equity investment, this book integrates established theory, empirical evidence, and industry practices to create practical applications in the real world. It goes beyond simply rehashing current investment paradigms, instead offering a rigorous research philosophy grounded in field evidence, making it a valuable resource for both practitioners and scholars seeking to understand and implement effective investment strategies.
Focusing on the life and political career of the Democratic Labor Party's inaugural Parliamentary Leader, this biography delves into the individual's contributions to Australian politics. It highlights key moments, challenges faced, and the impact of their leadership on the party and broader political landscape. The narrative offers insights into their personal life, motivations, and the historical context surrounding their tenure, providing a comprehensive look at a significant figure in Australian history.
Blueprint to Overhaul the Broken Knowledge Factory
164 páginas
6 horas de lectura
The book delves into the limitations of theories in various fields, highlighting their insufficient explanatory and predictive capabilities despite centuries of scientific progress. It examines the reasons behind the persistent gaps in expertise and offers strategies aimed at enhancing knowledge accumulation. Additionally, it addresses the challenges of navigating an uncertain future, providing insights into how to better manage the complexities that lie ahead.
This book uses risk in its dictionary meaning as the probabiHty of an unde sirable outcome, and has two research questions: when managers make de cisions, what leads them to choose a risky alternative? and: what deter mines whether the decision proves correct? Answers to these questions form a model of decision making that explains the process and results of managers' risk-taking in the real world. There is an extensive literature on risk and decision making because the topic has been of interest in many disciplines since at least the 18^^ century. Thus insights on the research questions are available from studies of ani mals, humans and organisations; and have been drawn by scholars in biol ogy, psychology, finance and management. Even so, there is a large gap as most studies are conducted away from corporate settings and use subjects with limited decision experience. The few studies set in real-world condi tions tend to concentrate on just a single aspect of decision makers' attrib utes, setting and behaviour, and on either decision choices or outcomes. The empirical work in this book is designed to fill part of this gap.
Institutions now dominate global equity trading, with mutual funds playing a crucial role as custodians of retirement savings. However, there is a lack of comprehensive understanding of fund manager behavior and a corresponding theory. This gap is concerning, as a key question in finance remains: why can't experienced, well-resourced fund managers outperform the market? The book combines academic research, empirical evidence, and real market experience to shed light on equity markets and their behaviors. Drawing from the author's extensive industry experience and over 40 interviews with fund managers across three continents, it presents an innovative model explaining the poor performance of mutual funds through the structural features of markets, the managed investment industry, and fund manager conduct. It offers a fully integrated view of market and investor dynamics, providing insights relevant to investors, wealth managers, and regulators. The text is well-documented yet accessible, avoiding jargon and complex mathematics, making it suitable for anyone interested in understanding mutual fund operations. This work proposes a new investment paradigm, essential for developing finance theory in the wake of recent financial crises.