Models for Investors in Real World Markets

* Considers neoclassical models in light of results that can go wrong with them to bring about better models. * Questions the assumption that markets clear quickly. * Offers a timely examination of the LTCM collapse. * Written by a group of well-respected and highly qualified authors.

JAMES R. THOMPSON, PhD, is the Noah Harding Professor of Statistics at Rice University. <p> EDWARD E. WILLIAMS, PhD, is Henry Gardiner Symonds Professor at the Jesse H. Jones Graduate School of Business Administration at Rice University. <p> PMAN FINDLAY, III, PhD, is President and Director of Fin Fin Inc., and Director of First Texas Venture Capital, LLC, and a principal at Findlay, Phillips and Associates in Los Angeles, California.

Preface.

Introduction and the Institutional Environment.

Some Conventional Building Blocks (With Various Reservations).

Diversification and Portfolio Selection.

Capital Market Equilibrium Theories.

Equilibrium Implying Efficiency: The Neoclassical Fantasy.

More Realistic Paradigms for Investment.

Security Analysis.

Empirical Financial Forecasting.

Stock Price Growth as Noisy Compound Interest.

Investing in Real World Markets: Returns and Risk Profiles.

Common Stock Options.

Summary, Some Unsettled (Unsettling) Questions, and Conclusions.

Appendix A: A Brief Introduction to Probability and Statistics.

Appendix B: Statistical Tables.

Index.

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Models for Investors in Real World Markets

Summary

Author Biography

Table of Contents

Supplemental Materials