Capital Ideas: The Improbable Origins of Modern Wall Street
When the recession of 1974 hit Wall Street, the investments profession desperately turned to the theories of a small and unlikely group of academics for guidance in finding a way to regain the value of their clients' holdings. Some of these scholars had begun to study stock prices merely as an expedient way to test the properties of large numbers, but inadvertently, they laid the intellectual foundation for a revolution in commerce. Peter L. Bernstein shows how Wall Street first fought, and then embraced, the advances wrought in the academic seminars and technical journals that ultimately transformed the art of investing.
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LibraryThing ReviewUser Review - justindtapp - LibraryThing
Your investment manager or stock broker probably believes he can beat the market-- ie: do a better job investing your money than simply putting your money in an index fund. And he is wrong. Anyone who ... Read full review
LibraryThing ReviewUser 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
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