Pandora's Risk: Uncertainty at the Core of Finance by Osband, Kent

Pandora's Risk: Uncertainty at the Core of Finance (Hardcover) (ISBN-13: 9780231151726)

Vendor: Kent Osband
Product type: Books
Format: Hardcover
$49.95
$49.95
$49.95
Subtotal: $49.95
Pandora's Risk: Uncertainty at the Core of Finance by Osband, Kent

Pandora's Risk: Uncertainty at the Core of Finance

$49.95
Pandora's Risk: Uncertainty at the Core of Finance by Osband, Kent

Pandora's Risk: Uncertainty at the Core of Finance

$49.95
Format: Hardcover
Description
Description
x

Author of the acclaimed work Iceberg Risk: An Adventure in Portfolio Theory, Kent Osband argues that uncertainty is central rather than marginal to finance. Markets don't trade mainly on changes in risk. They trade on changes in beliefs about risk, and in the process, markets unite, stretch, and occasionally defy beliefs. Recognizing this truth would make a world of difference in investing. Belittling uncertainty has created a rift between financial theory and practice and within finance theory itself, misguiding regulation and stoking huge financial imbalances.

Sparking a revolution in the mindset of the investment professional, Osband recasts the market as a learning machine rather than a knowledge machine. The market continually errs, corrects itself, and makes new errors. Respecting that process, without idolizing it, will promote wiser investment, trading, and regulation. With uncertainty embedded at its core, Osband's rational approach points to a finance theory worthy of twenty-first-century investing.

Author: Kent Osband
ISBN-10: 0231151721
ISBN-13: 9780231151726
Publisher: Columbia Business School Publishing
Language: English
Published: 07/05/2011
Pages: 304
Format: Hardcover
Weight: 1.19lbs
Size: 9.00h x 5.90w x 1.10d
By Kent Osband
By Kent Osband
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Kent Osband has worked for twenty-five years as a strategist/economist for major investment firms, international financial institutions, and think tanks. He holds a B.A. magna cum laude from Harvard University and a Ph.D. in economics from the University of California, Berkeley, and has taught at Harvard and at the University of California, Los Angeles. He is the author of Iceberg Risk: An Adventure in Portfolio Theory.

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