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Portfolio Theories: Capital Asset Pricing Model, Modern Portfolio Theory, Post-Modern Portfolio Theory, Maslowian Portfolio Theory
Paperback. Books LLC 2010-09-15.
ISBN 9781155803364
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Förlagets beskrivning
Chapters: Capital Asset Pricing Model, Modern Portfolio Theory, Post-Modern Portfolio Theory, Maslowian Portfolio Theory, Roy's Safety-First Criterion, Behavioral Portfolio Theory. Source: Wikipedia. Pages: 47. Not illustrated. Free updates online. Purchase includes a free trial membership in the publisher's book club where you can select from more than a million books without charge. Excerpt: Modern portfolio theory (MPT) is a theory of investment which tries to maximize return and minimize risk by carefully choosing different assets. Although MPT is widely used in practice in the financial industry and several of its creators won a Nobel prize for the theory, in recent years the basic assumptions of MPT have been widely challenged by fields such as behavioral economics. MPT is a mathematical formulation of the concept of diversification in investing, with the aim of selecting a collection of investment assets that has collectively lower risk than any individual asset. This is possible, in theory, because different types of assets often change in value in opposite ways. For example, when the prices in the stock market fall, the prices in the bond market often increase, and vice versa. A collection of both types of assets can therefore have lower overall risk than either individually. More technically, MPT models an asset's return as a normally distributed random variable, defines risk as the standard deviation of return, and models a portfolio as a weighted combination of assets so that the return of a portfolio is the weighted combination of the assets' returns. By combining different assets whose returns are not correlated, MPT seeks to reduce the total variance of the portfolio. MPT also assumes that investors are rational and markets are efficient. MPT was developed in the 1950s through the early 1970s and was considered an important advance in the mathematical modeling of finance. Since then, much theoretical and pract...More: http://booksllc.net/?id=734434
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Portfolio Theories: Capital Asset Pricing Model, Modern Portfolio Theory, Post-Modern Portfolio Theory, Maslowian Portfolio Theory
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