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Behavioural Finance Insights into Irrational Minds and Markets

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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.
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Book details

List price: $157.00
Copyright year: 2002
Publisher: John Wiley & Sons, Incorporated
Publication date: 10/11/2002
Binding: Hardcover
Pages: 212
Size: 7.00" wide x 10.00" long x 0.75" 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