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Pandora's risk : uncertainty at the core of finance /

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. In the process, markets unite, stretch, and oc...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Osband, Kent
Formato: Electrónico eBook
Idioma:Inglés
Publicado: New York : Columbia University Press, Ã2011.
Colección:Columbia Business School Publishing
Temas:
Acceso en línea:Texto completo

MARC

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505 0 |a Preface; Acknowledgments; Abbreviations; 1. Introduction; 2. The Ultimate Confidence Game; 3. Great Expectations; 4. Sustainable Debt; 5. The Midas Touch; 6. Safety in Numbers; 7. When God Changes Dice; 8. Credit- ability; 9. Insecuritization; 10. Risks in Value-at-Risk; 11. Resizing Risks; 12. Conclusions; Appendix; References; Index. 
520 |a 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. In the process, markets unite, stretch, and occasionally defy beliefs. Recognizing this would make a world of difference in investing. Belittling uncertainty has driven a rift between financial theory and practice and within finance theory itself. It has misguided regulation. It has stoked the greatest financial imbalances. 
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