{"product_id":"behavioural-finance-isbn-9780470844878","title":"Behavioural Finance","description":"A concrete guide that links the theory of behavioral finance with applications in financial products\u003cbr\u003e Behavioral finance is a rapidly expanding field, with major implications for the way in which the investment process is conducted. Behavioural Finance links the concepts of behavioral finance to measurable variables and smarter investment decision making. Comprehensive coverage relating theory to practical investment analysis provides a usable, practical guide for real-world situations.Behandelt ein brandheisses Thema, das zunehmend an Bedeutung gewinnt - die Behavioural Finance. Sie ist eine Teildisziplin der Finanzmarktforschung und beschäftigt sich mit der Psychologie von Investoren, d.h. damit, wie Marktteilnehmer Informationen auswählen und verarbeiten.\u003cbr\u003e \u003cbr\u003e \"Behavioural Finance\" ist das erste Buch auf dem Markt, das die Theorie der Behavioural Finance mit der praktischen Investmentanalyse verknüpft.\u003cbr\u003e \u003cbr\u003e Ein Leitfaden und Wegweiser für die praktische Marktanalyse aus Sicht der Behavioural Finance.\u003cbr\u003e \u003cbr\u003e Es verbindet die Konzepte der Behavioural Finance mit messbaren Variablen und klügeren Investmententscheidungen.\u003cbr\u003e \u003cbr\u003e Autor James Montier ist ein erfahrener Experte auf diesem Gebiet.  Preface.  \u003cp\u003eIntroduction.\u003c\/p\u003e \u003cp\u003e1. Psychological Foundations.\u003c\/p\u003e \u003cp\u003eIntroduction.\u003c\/p\u003e \u003cp\u003eBiases of Judgement or Perception is Reality.\u003c\/p\u003e \u003cp\u003eErrors of Preference or There is No Such Thing as Context-free Decision Making.\u003c\/p\u003e \u003cp\u003eConclusions.\u003c\/p\u003e \u003cp\u003e2. Imperfect Markets and Limited Arbitrage.\u003c\/p\u003e \u003cp\u003eIntroduction.\u003c\/p\u003e \u003cp\u003eKetchup Economics.\u003c\/p\u003e \u003cp\u003eEfficiency and LOOP.\u003c\/p\u003e \u003cp\u003eStock Market.\u003c\/p\u003e \u003cp\u003eOther Markets.\u003c\/p\u003e \u003cp\u003eImperfect Substitutes.\u003c\/p\u003e \u003cp\u003eLimited Arbitrage.\u003c\/p\u003e \u003cp\u003ePositive Feedback Trading.\u003c\/p\u003e \u003cp\u003eRisk Management and Limited Arbitrage.\u003c\/p\u003e \u003cp\u003eOn the Survival of Noise Traders.\u003c\/p\u003e \u003cp\u003eInformational Imperfections.\u003c\/p\u003e \u003cp\u003eConclusions.\u003c\/p\u003e \u003cp\u003e3. Style Investing.\u003c\/p\u003e \u003cp\u003eIntroduction.\u003c\/p\u003e \u003cp\u003eThe Data.\u003c\/p\u003e \u003cp\u003eThe History.\u003c\/p\u003e \u003cp\u003ePotential Gains to Style Rotation.\u003c\/p\u003e \u003cp\u003eLife Cycle of an Investment Style.\u003c\/p\u003e \u003cp\u003eValue vs. Growth: Risk or Behavioural?\u003c\/p\u003e \u003cp\u003eStyle Rotation.\u003c\/p\u003e \u003cp\u003eQuantitative Screens.\u003c\/p\u003e \u003cp\u003eTiming the Switch.\u003c\/p\u003e \u003cp\u003eConclusions.\u003c\/p\u003e \u003cp\u003e4. Stock Valuation.\u003c\/p\u003e \u003cp\u003eIntroduction.\u003c\/p\u003e \u003cp\u003eKeynes' Beauty Competition.\u003c\/p\u003e \u003cp\u003eThe (Ir)relevance of Fundamentals.\u003c\/p\u003e \u003cp\u003eValuation and Behavioural Biases.\u003c\/p\u003e \u003cp\u003eCost of Capital.\u003c\/p\u003e \u003cp\u003eFactors from Limited Arbitrage.\u003c\/p\u003e \u003cp\u003eAn Analyst's Guide.\u003c\/p\u003e \u003cp\u003e5. Portfolio Construction and Risk Management.\u003c\/p\u003e \u003cp\u003eIntroduction.\u003c\/p\u003e \u003cp\u003eCovariances.\u003c\/p\u003e \u003cp\u003eCorrelations.\u003c\/p\u003e \u003cp\u003eDistribution of Returns.\u003c\/p\u003e \u003cp\u003eFat Tails or Outliers?\u003c\/p\u003e \u003cp\u003e6. Asset Allocation.\u003c\/p\u003e \u003cp\u003eIntroduction.\u003c\/p\u003e \u003cp\u003eMarkets and Fundamentals.\u003c\/p\u003e \u003cp\u003eDividend Yield, Spreads and Ratios.\u003c\/p\u003e \u003cp\u003eEarnings Yield, Spreads and Ratios.\u003c\/p\u003e \u003cp\u003ePayout Ratio.\u003c\/p\u003e \u003cp\u003eThe Equity Risk Premium.\u003c\/p\u003e \u003cp\u003eShould Corporate Financiers be Running TAA?\u003c\/p\u003e \u003cp\u003eMarket Liquidity.\u003c\/p\u003e \u003cp\u003eCrashes as Critical Points.\u003c\/p\u003e \u003cp\u003e7. Corporate Finance.\u003c\/p\u003e \u003cp\u003eIntroduction.\u003c\/p\u003e \u003cp\u003eIrrational Managers\/Rational Markets.\u003c\/p\u003e \u003cp\u003eRational Managers\/Irrational Markets.\u003c\/p\u003e \u003cp\u003eConclusions.\u003c\/p\u003e \u003cp\u003e8. The Indicators.\u003c\/p\u003e \u003cp\u003eIntroduction.\u003c\/p\u003e \u003cp\u003eLiquidity Measures.\u003c\/p\u003e \u003cp\u003eSentiment Measures.\u003c\/p\u003e \u003cp\u003eAsset Allocation Measures.\u003c\/p\u003e \u003cp\u003eEarnings Measures.\u003c\/p\u003e \u003cp\u003eTechnical Measures.\u003c\/p\u003e \u003cp\u003eOthers.\u003c\/p\u003e \u003cp\u003eFinal Thoughts.\u003c\/p\u003e \u003cp\u003eBibliography.\u003c\/p\u003e \u003cp\u003eIndex.\u003c\/p\u003e  \"...The finding is surprising, as the City is notoriously full of arrogant young men betting on financial markets…Mr Montier has unearthed bizarre facts which suggest stock markets are frequently driven by entirely irrational factors...\" (The Daily Telegraph 25 November 2002)  \u003cp\u003e\"...In a new book, James Montier…outlines practical methods for exploiting the anomalies thrown up by behavioural finance...\" (Financial Times, 25 November 2002)\u003c\/p\u003e \u003cp\u003e\"…a good introduction to this subject….\" (Professional Investor, March 2003)\u003c\/p\u003e James Montier (London, UK) is the Director of Global Strategy at Dresdner Kleinwort Watterstein. Prior to this, he was director of investment strategy for Old Mutual Securities.  Behavioural finance starts with the simple belief that in the 'real world' investors are not rational. Based on many years experience, James Montier provides practical yet rigorous coverage of this emerging science, providing insights into the irrational nature of investment decisions. \u003ci\u003eBehavioural Finance: Insights into Irrational Minds and Markets\u003c\/i\u003e is essential reading for fund managers, strategists, asset allocators, portfolio constructors, corporate financiers and analysts. It is also suitable for MBAs and students studying finance and investment management.  \"In his splendid handbook for institutional investors, James Montier combines the insights he has gained as a practitioner, with the insights he has gleaned reading the academic literature in behavioural finance. Most importantly, Montier identifies key lessons to help institutional investors mitigate their susceptibility to psychologically-induced errors and biases\". Professor Hersh M. Shefrin, Leavey School of Business \u0026amp; Administration, Santa Clara, University  \u003cp\u003e\"Behavioural Finance is unique in combining in a practical way the insights of a very experienced investment practitioner with a very readable review of what the research evidence tells us. This book is essential reading for all serious students of market behaviour and any investor wanting to know how behavioural finance can be used to enhance investment returns\". Professor Richard Taffler, Head of Finance and Accounting, Cranfield School of Management, UK\u003c\/p\u003e \u003cp\u003e\"Behavioural finance abandons the assumptions of investor rationality and suggests that people do make mistakes in a consistent and predictable manner. Investors need to understand the herd if they want to make sense and profit from today's markets. James Montier's accessible book soundly guides the reader from behavioural finance theory to application. Don't grapple with the academic literature - just read Montier\". Christian E Elsmark, Investment Director, JPMorgan Fleming Asset Management\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988800815333,"sku":"NP9780470844878","price":157.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470844878.jpg?v=1761781641","url":"https:\/\/k12savings.com\/products\/behavioural-finance-isbn-9780470844878","provider":"K12savings","version":"1.0","type":"link"}