Financial Decision-making & Investor Behaviour

The content of this book has become ever more relevant after the recent 2007–2009 and 2011 financialcrises, one consequence of which was greatly increased scepticism among investment professionals aboutthe received wisdom drawn from standard finance, modern portfolio theory and its later developments.The combined collapse of Goldman Sachs Asset Management quantitative funds during the summer of2008 and then the formal academic recognition in 2009 that an equally divided asset-allocation strategyperformed better than any statically optimised portfolio strategy cast serious doubts on the capabilityof modern standard finance, relying as it does on quantitative analytics, to provide value to investors.Modern portfolio theory suddenly...
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Financial Decision-making & Investor Behaviour