Behavioural Finance: Insights into Irrational Minds and Markets by James Montier

Description: Behavioural Finance by James Montier A stocks share price is often traded not for what it is worth but for what investors think it is worth. Institutional investors are increasingly looking at the rapidly expanding area of behavioural finance before making an investment decision. This book links the theory of behavioural finance with applications in financial products. FORMAT Hardcover LANGUAGE English CONDITION Brand New Publisher Description A concrete guide that links the theory of behavioral finance with applications in financial products 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. Back Cover "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 & Administration, Santa Clara, University "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 "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 todays markets. James Montiers accessible book soundly guides the reader from behavioural finance theory to application. Dont grapple with the academic literature - just read Montier". Christian E Elsmark, Investment Director, JPMorgan Fleming Asset Management Flap 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. Behavioural Finance: Insights into Irrational Minds and Markets 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. Author Biography 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. Table of Contents Preface. Introduction. 1. Psychological Foundations. Introduction. Biases of Judgement or Perception is Reality. Errors of Preference or There is No Such Thing as Context-free Decision Making. Conclusions. 2. Imperfect Markets and Limited Arbitrage. Introduction. Ketchup Economics. Efficiency and LOOP. Stock Market. Other Markets. Imperfect Substitutes. Limited Arbitrage. Positive Feedback Trading. Risk Management and Limited Arbitrage. On the Survival of Noise Traders. Informational Imperfections. Conclusions. 3. Style Investing. Introduction. The Data. The History. Potential Gains to Style Rotation. Life Cycle of an Investment Style. Value vs. Growth: Risk or Behavioural? Style Rotation. Quantitative Screens. Timing the Switch. Conclusions. 4. Stock Valuation. Introduction. Keynes Beauty Competition. The (Ir)relevance of Fundamentals. Valuation and Behavioural Biases. Cost of Capital. Factors from Limited Arbitrage. An Analysts Guide. 5. Portfolio Construction and Risk Management. Introduction. Covariances. Correlations. Distribution of Returns. Fat Tails or Outliers? 6. Asset Allocation. Introduction. Markets and Fundamentals. Dividend Yield, Spreads and Ratios. Earnings Yield, Spreads and Ratios. Payout Ratio. The Equity Risk Premium. Should Corporate Financiers be Running TAA? Market Liquidity. Crashes as Critical Points. 7. Corporate Finance. Introduction. Irrational Managers/Rational Markets. Rational Managers/Irrational Markets. Conclusions. 8. The Indicators. Introduction. Liquidity Measures. Sentiment Measures. Asset Allocation Measures. Earnings Measures. Technical Measures. Others. Final Thoughts. Bibliography. Index. Review "...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) "...In a new book, James Montier…outlines practical methods for exploiting the anomalies thrown up by behavioural finance..." (Financial Times, 25 November 2002) "…a good introduction to this subject…." (Professional Investor, March 2003) Long Description "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 & Administration, Santa Clara, University "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 "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 todays markets. James Montiers accessible book soundly guides the reader from behavioural finance theory to application. Dont grapple with the academic literature - just read Montier". Christian E Elsmark, Investment Director, JPMorgan Fleming Asset Management Review Text "...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) "...In a new book, James Montier?outlines practical methods for exploiting the anomalies thrown up by behavioural finance..." (Financial Times, 25 November 2002) "?a good introduction to this subject?." (Professional Investor, March 2003) Review Quote "...The finding is surprising, as the City is notoriously full ofarrogant young men betting on financial markets Mr Montierhas unearthed bizarre facts which suggest stock markets arefrequently driven by entirely irrational factors..." (The DailyTelegraph 25 November 2002) "...In a new book, James Montier outlines practicalmethods for exploiting the anomalies thrown up by behaviouralfinance..." (Financial Times, 25 November 2002) " a good introduction to this subject ."(Professional Investor, March 2003) Promotional "Headline" "...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)"...In a new book, James Montier...outlines practical methods for exploiting the anomalies thrown up by behavioural finance..." (Financial Times, 25 November 2002)"...a good introduction to this subject...." (Professional Investor, March 2003) Feature Comprehensive coverage relating theory to practical investment analysis. Provides a useable, practical guide for the real world. Details ISBN0470844876 Year 2002 ISBN-10 0470844876 ISBN-13 9780470844878 Format Hardcover Publication Date 2002-09-03 Subtitle Insights into Irrational Minds and Markets DEWEY 332.6 Illustrations Illustrations Media Book Series The Wiley Finance Series Language English Edition 1st Short Title Behavioural Finance DOI 10.1604/9780470844878 Series Number 238 UK Release Date 2002-09-03 AU Release Date 2002-09-03 NZ Release Date 2002-09-03 US Release Date 2002-09-03 Author James Montier Publisher John Wiley & Sons Inc Imprint John Wiley & Sons Inc Place of Publication New York Country of Publication United States Audience Professional & Vocational Pages 212 We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! TheNile_Item_ID:1358118;

Price: 223.82 AUD

Location: Melbourne

End Time: 2025-02-02T09:29:58.000Z

Shipping Cost: 4.03 AUD