Behavioural Finance Insights into Irrational Minds and Markets

Name: Behavioural Finance Insights into Irrational Minds and Markets
Availability: InStock
ISBN: 9780470844878

ISBN-10: 0470844876

ISBN-13: 9780470844878

Edition: 2002

Authors: James Montier

List price: $157.00

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Description:

This text provides coverage of behavioural finance as it applies to institutional investors. It links the concepts of behavioural finance to measurable variables and smarter investment decision making.

Book details

List price: $157.00
Copyright year: 2002
Publisher: John Wiley & Sons, Incorporated
Publication date: 10/11/2002
Binding: Hardcover
Pages: 320
Size: 7.00" wide x 10.00" long x 0.74" tall
Weight: 1.144
Language: English



Preface


Introduction



Psychological Foundations


Introduction


Biases of Judgement or Perception is Reality


Errors of Preference or There is No Such Thing as Context-free Decision Making


Conclusions



Imperfect Markets and Limited Arbitrage


Introduction


Ketchup Economics


Efficiency and LOOP


Stock Market


Other Markets


Imperfect Substitutes


Limited Arbitrage


Positive Feedback Trading


Risk Management and Limited Arbitrage


On the Survival of Noise Traders


Informational Imperfections


Conclusions



Style Investing


Introduction


The Data


The History


Potential Gains to Style Rotation


Life Cycle of an Investment Style


Value vs. Growth: Risk or Behavioural?


Style Rotation


Quantitative Screens


Timing the Switch


Conclusions



Stock Valuation


Introduction


Keynes' Beauty Competition


The (Ir)relevance of Fundamentals


Valuation and Behavioural Biases


Cost of Capital


Factors from Limited Arbitrage


An Analyst's Guide



Portfolio Construction and Risk Management


Introduction


Covariances


Correlations


Distribution of Returns


Fat Tails or Outliers?



Asset Allocation


Introduction


Markets and Fundamentals


Dividend Yield, Spreads and Ratios


Earnings Yield, Spreads and Ratios


Payout Ratio


The Equity Risk Premium


Should Corporate Financiers be Running TAA?


Market Liquidity


Crashes as Critical Points



Corporate Finance


Introduction


Irrational Managers/Rational Markets


Rational Managers/Irrational Markets


Conclusions



The Indicators


Introduction


Liquidity Measures


Sentiment Measures


Asset Allocation Measures


Earnings Measures


Technical Measures


Others


Final Thoughts


Bibliography


Index