Let the legends of finance be your money managers! Imagine having the opportunity to ask Babe Ruth how to hit, or Charles Lindbergh how to fly. Investment Titans assembles an unprecedented panel of Nobel laureates and great financial thinkers--including Harry Markowitz, Paul Samuelson, John Bogle, and others--to ask: "How can investors make smart decisions that minimize risk and uncertainty and maximize return?" Their answers are thought-provoking, innovative, and certain to provide profitable insights for readers to use in their own investing. Each contributor's field of knowledge--hedging risk, defeating psychological negatives, picking stocks, choosing strategies--is featured in its own concise, hands-on chapter. The result is a rare, fascinating look inside the minds and techniques of some of today's greatest financial thinkers.
Table of contents:
The Efficient Frontier: Harry Markowitz. Time and Money: Paul Samuelson. The Equity Premium: Jeremy Siegel. The Average Outperforms: John C. Bogle. Uncommon Value, Hidden Growth: Josef Lakonishok. It's All in the Mind: Richard Thaler. Passport to Wealth: Gary Brinson. Widows, Orphans and Other Risk-Takers: Peter Bernstein. We're All Investors Now: William Sharpe. Epilogue: Variations on a Theme.
Nine of Today's Greatest Financial Innovators Discuss the Foundations and Strategies of Intelligent Investing A sampling of the minds and methods in Investment Titans: "You shouldn't spend much time on your investments. That will tempt you to pull up the plants and see how the roots are doing, and that's very bad for the roots."Paul Samuelson, Nobel Laureate "You choose your point on the efficient frontier according to your willingness to bear risk. It's no free lunch."Harry Markowitz, Nobel Laureate "If you are looking way into the future, a declining market helps, maybe what we have to do is realize that what we perceive to be pain is actually opportunity."Jeremy Siegel "The most common mistake investors make is not thinking about everybody else. Look at the Internet Stocks. Everybody thought they alone discovered the Internet."Richard Thaler "Individuals ought to concentrate on using the market more than beating it. Focus on questions of asset allocation, diversification, and changes through time."William Sharpe, Nobel Laureate "The stock market doesn't know you're there, and it's not going to be considerate. It owes you nothing."Peter Bernstein "There's a time when investors should exit the market. The problem is that we never know when it is." John C. Bogle "This book offers a concrete and helpful understanding of investment strategies, as seen through the eyes of some of the most profoundly unique thinkers in the investment business."From the Preface Whether scholars, money managers, or those who straddle both worlds, these individuals didn't follow the status quo. They dared to ask questions that, when answered, would lay the foundation for modern Wall Street. Investment products and models they either created or influenced, from asset allocation to Portfolio Theory, index mutual funds, and more, came to define the way investors view and approach the financial markets. But how do these trailblazers see the markets of today and tomorrow? As would be expected, the opinions and attitudes of these veterans aren¿t swayed much by talk of bulls and bears. Investment Titans provides wisdom based on experience and facts, not trends and earnings reports. For example: Paul Samuelson on: The true essence of long-term risk in the stock market Harry Markowitz on: Diversification techniques and strategies to lower risk and increase long-term returns Josef Lakonishok on: Proven profit opportunities presented by the trading activities of company insiders In addition, these masters of investing prove they aren't living in the past. Investment Titans details how to detect undervalued stocks that are poised for a recovery; how adding risk to a portfolio can actually reduce its volatility; websites where you can find the latest investment analysis, along with other valuable information; and more. Market veterans will tell you: while the playersand even some of the rulesin investing change from time to time, the fundamentals remain the same. And when you need to hear the fundamentals, who better to listen to than the experts who understand them best? From Harry Markowitz to John Bogle, the nuggets of advice contained in Investment Titans are certain to provide profitable insights to use in your own investingand the peace of mind that comes from knowing your advisors are, truly, among today's most brilliant financial minds.
In the tradition of Market Wizards and Investment Gurus comes this interview style book featuring the greatest thinkers of the 20th century. Seasoned journalist Jonathan Burton--who has already interviewed almost every one of the gurus featured in this book--will present investment insights and strategies as seen through the eyes of such financial luminaries as: Paul Samuelson, who will share his views on the true essence of long term risk in the stock market; Harry Markowitz, who presents proof that diversification lowers risk and raises returns; Richard Thaler, who discusses investor psychology and bucks conventional wisdom by explaining why investors can beat the market; Kenneth French of Yale, who shows why value stocks are often risky investments; Eugene Fama, the "bad boy of finance," makes the case for passive investing via index funds and explains why investors shouldn't try to beat the market; William Sharpe of Stanford, who shows how to use his patented investment tools--the Capital Asset Pricing Model and Sharpe ratio--to assess risk and build a winning portfolio; Roger Ibbotson talks about what a great stock picker and shows how to evaluate stocks based on a risk-adjusted model. Burton will start each interview by asking the age-old question: "can someone beat the market," and then will segue into areas in which these people specialize, such as William Sharpe's views on asset allocation. Burton's incisive questions are designed to help readers get inside the minds of these financial luminaries, and have been condensed into eight key categories: risk-tolerance, asset allocation, style analysis, passive investment, time horizon, short-term vs. long-term risk, investor psychology and calendar anomalies (e.g. The January Effect). Each chapter will conclude with a section that will show investors how to apply the concepts and principles presented in the interview. More than a collection of interviews, Investment Titans will feature the wisdom, investment insights and techniques of the greatest financial thinkers of our time. Unlike other books on the subject, Investment Titans does not profile the money managers; instead, Burton heads straight to the source and features insights from the Nobel laureates and original thinkers of finance--the people who are attributed with the cutting edge research that has formed much of the body of knowledge of 20th century finance and investing.
Table of contents:
The Efficient Frontier: Harry Markowitz. Time and Money: Paul Samuelson. The Equity Premium: Jeremy Siegel. The Average Outperforms: John C. Bogle. Uncommon Value, Hidden Growth: Josef Lakonishok. It's All in the Mind: Richard Thaler. Passport to Wealth: Gary Brinson. Widows, Orphans and Other Risk-Takers: Peter Bernstein. We're All Investors Now: William Sharpe. Epilogue: Variations on a Theme.
Nine of Today's Greatest Financial Innovators Discuss the Foundations and Strategies of Intelligent Investing A sampling of the minds and methods in Investment Titans: "You shouldn't spend much time on your investments. That will tempt you to pull up the plants and see how the roots are doing, and that's very bad for the roots."Paul Samuelson, Nobel Laureate "You choose your point on the efficient frontier according to your willingness to bear risk. It's no free lunch."Harry Markowitz, Nobel Laureate "If you are looking way into the future, a declining market helps, maybe what we have to do is realize that what we perceive to be pain is actually opportunity."Jeremy Siegel "The most common mistake investors make is not thinking about everybody else. Look at the Internet Stocks. Everybody thought they alone discovered the Internet."Richard Thaler "Individuals ought to concentrate on using the market more than beating it. Focus on questions of asset allocation, diversification, and changes through time."William Sharpe, Nobel Laureate "The stock market doesn't know you're there, and it's not going to be considerate. It owes you nothing."Peter Bernstein "There's a time when investors should exit the market. The problem is that we never know when it is." John C. Bogle "This book offers a concrete and helpful understanding of investment strategies, as seen through the eyes of some of the most profoundly unique thinkers in the investment business."From the Preface Whether scholars, money managers, or those who straddle both worlds, these individuals didn't follow the status quo. They dared to ask questions that, when answered, would lay the foundation for modern Wall Street. Investment products and models they either created or influenced, from asset allocation to Portfolio Theory, index mutual funds, and more, came to define the way investors view and approach the financial markets. But how do these trailblazers see the markets of today and tomorrow? As would be expected, the opinions and attitudes of these veterans aren¿t swayed much by talk of bulls and bears. Investment Titans provides wisdom based on experience and facts, not trends and earnings reports. For example: Paul Samuelson on: The true essence of long-term risk in the stock market Harry Markowitz on: Diversification techniques and strategies to lower risk and increase long-term returns Josef Lakonishok on: Proven profit opportunities presented by the trading activities of company insiders In addition, these masters of investing prove they aren't living in the past. Investment Titans details how to detect undervalued stocks that are poised for a recovery; how adding risk to a portfolio can actually reduce its volatility; websites where you can find the latest investment analysis, along with other valuable information; and more. Market veterans will tell you: while the playersand even some of the rulesin investing change from time to time, the fundamentals remain the same. And when you need to hear the fundamentals, who better to listen to than the experts who understand them best? From Harry Markowitz to John Bogle, the nuggets of advice contained in Investment Titans are certain to provide profitable insights to use in your own investingand the peace of mind that comes from knowing your advisors are, truly, among today's most brilliant financial minds.
In the tradition of Market Wizards and Investment Gurus comes this interview style book featuring the greatest thinkers of the 20th century. Seasoned journalist Jonathan Burton--who has already interviewed almost every one of the gurus featured in this book--will present investment insights and strategies as seen through the eyes of such financial luminaries as: Paul Samuelson, who will share his views on the true essence of long term risk in the stock market; Harry Markowitz, who presents proof that diversification lowers risk and raises returns; Richard Thaler, who discusses investor psychology and bucks conventional wisdom by explaining why investors can beat the market; Kenneth French of Yale, who shows why value stocks are often risky investments; Eugene Fama, the "bad boy of finance," makes the case for passive investing via index funds and explains why investors shouldn't try to beat the market; William Sharpe of Stanford, who shows how to use his patented investment tools--the Capital Asset Pricing Model and Sharpe ratio--to assess risk and build a winning portfolio; Roger Ibbotson talks about what a great stock picker and shows how to evaluate stocks based on a risk-adjusted model. Burton will start each interview by asking the age-old question: "can someone beat the market," and then will segue into areas in which these people specialize, such as William Sharpe's views on asset allocation. Burton's incisive questions are designed to help readers get inside the minds of these financial luminaries, and have been condensed into eight key categories: risk-tolerance, asset allocation, style analysis, passive investment, time horizon, short-term vs. long-term risk, investor psychology and calendar anomalies (e.g. The January Effect). Each chapter will conclude with a section that will show investors how to apply the concepts and principles presented in the interview. More than a collection of interviews, Investment Titans will feature the wisdom, investment insights and techniques of the greatest financial thinkers of our time. Unlike other books on the subject, Investment Titans does not profile the money managers; instead, Burton heads straight to the source and features insights from the Nobel laureates and original thinkers of finance--the people who are attributed with the cutting edge research that has formed much of the body of knowledge of 20th century finance and investing.