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Pandora’s Risk
By:Kent Osband
Published on 2011-07-05 by Columbia University Press

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.
This Book was ranked at 24 by Google Books for keyword Bimetallism.
Book ID of Pandora’s Risk's Books is _dE2AAAAQBAJ, Book which was written byKent Osbandhave ETAG "3i0OHalZork"
Book which was published by Columbia University Press since 2011-07-05 have ISBNs, ISBN 13 Code is 9780231525411 and ISBN 10 Code is 0231525419
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Book which have "272 Pages" is Printed at BOOK under CategoryBusiness and Economics
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