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Author: Lasse Heje Pedersen
Publisher: Princeton University Press
ISBN: 0691196095
Category : Business & Economics
Languages : en
Pages : 368
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Book Description
Efficiently Inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money--and why they sometimes don't. Pedersen views markets as neither perfectly efficient nor completely inefficient. Rather, they are inefficient enough that money managers can be compensated for their costs through the profits of their trading strategies and efficient enough that the profits after costs do not encourage additional active investing. Understanding how to trade in this efficiently inefficient market provides a new, engaging way to learn finance. Pedersen analyzes how the market price of stocks and bonds can differ from the model price, leading to new perspectives on the relationship between trading results and finance theory. He explores several different areas in depth--fundamental tools for investment management, equity strategies, macro strategies, and arbitrage strategies--and he looks at such diverse topics as portfolio choice, risk management, equity valuation, and yield curve logic. The book's strategies are illuminated further by interviews with leading hedge fund managers: Lee Ainslie, Cliff Asness, Jim Chanos, Ken Griffin, David Harding, John Paulson, Myron Scholes, and George Soros.
Author: Lasse Heje Pedersen
Publisher: Princeton University Press
ISBN: 0691196095
Category : Business & Economics
Languages : en
Pages : 368
Get Book
Book Description
Efficiently Inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money--and why they sometimes don't. Pedersen views markets as neither perfectly efficient nor completely inefficient. Rather, they are inefficient enough that money managers can be compensated for their costs through the profits of their trading strategies and efficient enough that the profits after costs do not encourage additional active investing. Understanding how to trade in this efficiently inefficient market provides a new, engaging way to learn finance. Pedersen analyzes how the market price of stocks and bonds can differ from the model price, leading to new perspectives on the relationship between trading results and finance theory. He explores several different areas in depth--fundamental tools for investment management, equity strategies, macro strategies, and arbitrage strategies--and he looks at such diverse topics as portfolio choice, risk management, equity valuation, and yield curve logic. The book's strategies are illuminated further by interviews with leading hedge fund managers: Lee Ainslie, Cliff Asness, Jim Chanos, Ken Griffin, David Harding, John Paulson, Myron Scholes, and George Soros.
Author: Niklas Modig
Publisher: CENTRAL BOOKS
ISBN: 9789198039306
Category : Business logistics
Languages : en
Pages : 0
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Book Description
This book is relevant to any kind of business and is currently being used by a number of multi-national companies, including AstraZeneca, Ericsson, Scania and Volvo.
Author: Yakov Amihud
Publisher: Cambridge University Press
ISBN: 0521191769
Category : Business & Economics
Languages : en
Pages : 293
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Book Description
This book explores the effect of liquidity on asset prices, liquidity variations over time and how liquidity risk affects prices.
Author: Jonathan Cylus
Publisher: Health Policy
ISBN: 9789289050418
Category : Medical
Languages : en
Pages : 264
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Book Description
In this book the authors explore the state of the art on efficiency measurement in health systems and international experts offer insights into the pitfalls and potential associated with various measurement techniques. The authors show that: - The core idea of efficiency is easy to understand in principle - maximizing valued outputs relative to inputs, but is often difficult to make operational in real-life situations - There have been numerous advances in data collection and availability, as well as innovative methodological approaches that give valuable insights into how efficiently health care is delivered - Our simple analytical framework can facilitate the development and interpretation of efficiency indicators.
Author: Helene Segura
Publisher: New World Library
ISBN: 1608684016
Category : Business & Economics
Languages : en
Pages : 312
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Book Description
Slay Procrastination, Distraction, and Overwhelm! Who doesn’t want more time and energy for family, friends, and personal passions? Author Helene Segura coaches real people in the real world to operate more efficiently during the workday, so they can have a life outside it. Her engaging time management program caters to diverse learning styles, offering case studies that allow readers to self-diagnose and zero in on the strategies most appropriate for them. Anyone wanting to streamline workflow and improve productivity can employ her wonderfully doable techniques — for clearing task lists, handling reminder systems, scheduling a variety of priorities, and even managing emails and phone calls. Thanks to Segura’s astute attention to personality, The Inefficiency Assassin meets readers where they are struggling and details quick and easy-to-implement strategies to, as Segura promises, “kick chaos to the curb.”
Author: Andrew Ang
Publisher: Financial Management Associati
ISBN: 0199959323
Category : Business & Economics
Languages : en
Pages : 717
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Book Description
Stocks and bonds? Real estate? Hedge funds? Private equity? If you think those are the things to focus on in building an investment portfolio, Andrew Ang has accumulated a body of research that will prove otherwise. In this book, Ang upends the conventional wisdom about asset allocation by showing that what matters aren't asset class labels but the bundles of overlapping risks they represent.
Author: Agustin Lebron
Publisher: John Wiley & Sons
ISBN: 1119574218
Category : Business & Economics
Languages : en
Pages : 310
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Book Description
Every decision is a trade. Learn to think about the ones you should do — and the ones you shouldn’t. Trading books generally break down into two categories: the ones which claim to teach you how to make money trading, and the memoir-style books recounting scandals and bad behavior. But the former don't have profitable trades to teach; if they did they'd keep those trades to themselves. And the latter are frequently entertaining, but they don't leave you with much you can apply in your own life. The Laws of Trading is different. All of our relationships and decisions involve trading at some level. This is a book about decision-making through the lens of a professional prop trader. For years, behavioral and cognitive scientists have shown us how human decision-making is flawed and biased. But how do you learn to avoid these problems in day-to-day decisions where you have to react in real-time? What are the important things to think about and to act on? The world needs a book by a prop trader who has lived, breathed and taught trading for a living, drawing upon years of insights on the trading floor in real markets, good and bad, whether going sideways, crashing, or bubbling over. If you can master the decision-making skills needed to profitably trade in modern markets, you can master decision-making in all walks of life. This book will teach you exactly those skills. Introduces, develops, and applies one law per chapter, making it easy not only to remember useful concepts, but also to have them at the ready in any situation. Shows you how to find and think about the “special edge” of your organization, and yourself. Teaches you how to handle the interaction of people with artificially intelligent (AI) machines that make decisions, a skill that is rapidly becoming essential in the AI-driven economy of the future. Includes a "bonus" digital ancillary, an Excel spreadsheet with various worked examples that expand on the scenarios described in the book. Do you need to make rational decisions in a competitive environment? Almost everyone does. This book will teach you the tools that let you do your job better.
Author: Donald R. Chambers
Publisher: CFA Institute Research Foundation
ISBN: 1944960384
Category : Business & Economics
Languages : en
Pages :
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Book Description
Alternative Investments: A Primer for Investment Professionals provides an overview of alternative investments for institutional asset allocators and other overseers of portfolios containing both traditional and alternative assets. It is designed for those with substantial experience regarding traditional investments in stocks and bonds but limited familiarity regarding alternative assets, alternative strategies, and alternative portfolio management. The primer categorizes alternative assets into four groups: hedge funds, real assets, private equity, and structured products/derivatives. Real assets include vacant land, farmland, timber, infrastructure, intellectual property, commodities, and private real estate. For each group, the primer provides essential information about the characteristics, challenges, and purposes of these institutional-quality alternative assets in the context of a well-diversified institutional portfolio. Other topics addressed by this primer include tail risk, due diligence of the investment process and operations, measurement and management of risks and returns, setting return expectations, and portfolio construction. The primer concludes with a chapter on the case for investing in alternatives.
Author: Fedor G. Pikus
Publisher: Packt Publishing Ltd
ISBN: 1800202741
Category : Computers
Languages : en
Pages : 465
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Book Description
Become a better programmer with performance improvement techniques such as concurrency, lock-free programming, atomic operations, parallelism, and memory management Key FeaturesLearn proven techniques from a heavyweight and recognized expert in C++ and high-performance computingUnderstand the limitations of modern CPUs and their performance impactFind out how you can avoid writing inefficient code and get the best optimizations from the compilerLearn the tradeoffs and costs of writing high-performance programsBook Description The great free lunch of "performance taking care of itself" is over. Until recently, programs got faster by themselves as CPUs were upgraded, but that doesn't happen anymore. The clock frequency of new processors has almost peaked, and while new architectures provide small improvements to existing programs, this only helps slightly. To write efficient software, you now have to know how to program by making good use of the available computing resources, and this book will teach you how to do that. The Art of Efficient Programming covers all the major aspects of writing efficient programs, such as using CPU resources and memory efficiently, avoiding unnecessary computations, measuring performance, and how to put concurrency and multithreading to good use. You'll also learn about compiler optimizations and how to use the programming language (C++) more efficiently. Finally, you'll understand how design decisions impact performance. By the end of this book, you'll not only have enough knowledge of processors and compilers to write efficient programs, but you'll also be able to understand which techniques to use and what to measure while improving performance. At its core, this book is about learning how to learn. What you will learnDiscover how to use the hardware computing resources in your programs effectivelyUnderstand the relationship between memory order and memory barriersFamiliarize yourself with the performance implications of different data structures and organizationsAssess the performance impact of concurrent memory accessed and how to minimize itDiscover when to use and when not to use lock-free programming techniquesExplore different ways to improve the effectiveness of compiler optimizationsDesign APIs for concurrent data structures and high-performance data structures to avoid inefficienciesWho this book is for This book is for experienced developers and programmers who work on performance-critical projects and want to learn new techniques to improve the performance of their code. Programmers in algorithmic trading, gaming, bioinformatics, computational genomics, or computational fluid dynamics communities will get the most out of the examples in this book, but the techniques are fairly universal. Although this book uses the C++ language, the concepts demonstrated in the book can be easily transferred or applied to other compiled languages such as C, Java, Rust, Go, and more.
Author: Charles Lee
Publisher: Now Publishers
ISBN: 9781601988928
Category : Business & Economics
Languages : en
Pages : 212
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Book Description
Alphanomics: The Informational Underpinnings of Market Efficiency is intended to be a compact introduction to academic research on market efficiency, behavioral finance, and fundamental analysis and is dedicated to the kind of decision-driven and prospectively-focused research that is much needed in a market constantly seeking to become more efficient. The authors refer to this type of research as Alphanomics, the informational economics behind market efficiency. Alpha refers to the abnormal returns, which provide the incentive for some subpopulation of investors to engage in information acquisition and costly arbitrage activities. Nomics refers to the economics of alpha extraction, which encompasses the costs and incentives of informational arbitrage as a sustainable business proposition. Some of the questions that are addressed include: why do we believe markets are efficient?; what problems have this belief engendered?; what factors can impede and/or facilitate market efficiency?; what roles do investor sentiment and costly arbitrage play in determining an equilibrium level of informational efficiency?; what is the essence of value investing?; how is it related to fundamental analysis (the study of historical financial data)?; and how might we distinguish between risk and mispricing based explanations for predictability patterns in returns? The first two sections review the evolution of academic thinking on market efficiency and introduce the noise trader model as a rational alternative. Section 3 surveys the literature on investor sentiment and its role as a source of both risks and returns. Section 4 discusses the role of fundamental analysis in value investing. Section 5 reviews the literature on limits to arbitrage, and section 6 discusses research methodology issues associated with the need to distinguish mispricing from risk.
