Capital Ideas and Market Realities: Option Replication, Investor Behavior, and Stock Market Crashes

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Wiley, Aug 3, 1999 - Business & Economics - 399 pages
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Bruce Jacobs sifts through the history of modern finance, from the efficient market hypothesis to behavioral psychology and chaos theory, to determine the cause of recent market crashes.

  • Includes a Foreword from Nobel Laureate Harry M. Markowitz.
  • Showcases the expertise of an author who identified and predicted the causes of 1987, 1997 and 1998 crashes.
  • Explains the risks of little-understood option replication.
  • Offers chapter summaries, appendices and a glossary.

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About the author (1999)

Bruce I. Jacobs is a cofounder and principal of Jacobs Levy Equity Management, an investment counselor with $5 billion in institutional assets under management, located in Roseland, New Jersey. He holds a doctorate in finance from the Wharton School of the University of Pennsylvania. Dr Jacobs is co-author, with Kenneth N. Levy, of the book, Equity Management: Quantitative Analysis for Stock Selection.

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