Capital Ideas: The Improbable Origins of Modern Wall Street

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Free Press, 1992 - Business & Economics - 340 pages
11 Reviews
When the 1974 recession hit Wall Street, investment professionals desperately turned to academia to help regain the value of their clients' holdings. Bernstein shows how Wall Street finally embraced the advences wrought in academic seminars and technical journals tht ultimately transformed the art of investing.

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LibraryThing Review

User Review  - BrianFannin - LibraryThing

Bernstein is the man. Not only a fond summary of the leading innovators of capital market theory, but also a sound defense of the need for capital markets. Makes me want to find some numbers and write a paper. If only I were bright enough to do so. Read full review

Review: Capital Ideas: The Improbable Origins of Modern Wall Street

User Review  - John - Goodreads

The late Peter L. Bernstein's Against the Gods is the quintessential book on the phenomenon of risk. After several re-readings over the years it still stands up. That epic book prompted me to delve in ... Read full review

Contents

Are Stock Prices Predictable?
17
PART II
39
The Interior Decorator Fallacy
61
Copyright

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About the author (1992)

Peter L. Bernstein graduated magna cum laude from Harvard College with a degree in economics. After serving as a member of the research staff at the Federal Reserve Bank of New York and at the Office of Strategic Services in Washington, Bernstein joined the the Air Force, attaining the rank of captain serving in World War II, and assigned to the Office of Strategic Services. After the war, Bernstein taught economics for many years as an adjunct professor on the Graduate Faculty of the New School for Social Research in New York. In 1951, after teaching economics at Williams College and spending five years in commercial banking, Bernstein became Chief Executive of a nationally known investment counsel firm He retired in 1973 to launch Peter L. Bernstein, Inc. Bernstein was the first Editor of The Journal of Portfolio Management in 1974,and is now Consulting Editor of the Journal. He served on the Visiting Committee to the Economics Department at Harvard University, as a Trustee and member of the Finance Committee of the College Retirement Equities Fund, and as a Trustee of the Investment Management Workshop sponsored by the Association for Investment Management & Research. Bernstein is the author of nine books in economics and finance and he has also written articles in professional journals such as The Harvard Business Review and the Financial Analysts Journal, and in the press, including The New York Times, The Wall Street Journal, Worth Magazine, and Bloomberg publications. He has contributed to collections of articles published by Perseus and FT Mastering. He is also a lecturer on risk management, asset allocation, portfolio strategy, and market history. Bernstein has received three major awards from the Association for Investment Management & Research, which include; The Award for Professional Excellence, The Graham & Dodd Award, given annually for the outstanding article in the Financial Analysts Journal for the previous year, and The James R. Vertin Award, recognizing individuals who have produced a body of research notable for its relevance and enduring value to investment professionals.

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