The New Contrarian Investment Strategy
"David Dreman's excellent book - at once clear, witty and complete - tells the secrets of how ordinary investors can beat the professionals in good markets and bad alike." - Marshall Loeb, Editor,... This description may be from another edition of this product.
Format:Hardcover
Language:English
ISBN:0394523644
ISBN13:9780394523644
Release Date:December 1982
Publisher:Random House (NY)
Length:343 Pages
Weight:1.59 lbs.
Dimensions:1.3" x 6.5" x 9.5"
Customer Reviews
2 ratings
Professor Fema
Published by Thriftbooks.com User , 19 years ago
Professor Fema said "no markets are risk averse because markets are efficient". Academics supported the theory of assumption of risk as necessary to bind investment theory to economics. This is a hole that efficient markets researchers have dug for themselves. Paul Samuelson, of MIT, introduced differential equations to study virtually any economic problem. The key assumption was rationality and economics could be converted into a precise physical science. Paul Slovic's, psychology of risk, challenges the assumptions of rationality. Slovic introduced psychological factors that shape judgement of risk. People tend to respond to hazards they perceive. Financial persuasion fluctuates because credibility is hard too acquire but easy to lose. For investors, when it comes to winning, the playing field is tilited towards distrust. The perception of risk exposure from a minor problem can increase dramatically into a signficant correction, as distrust escalates.
Sound advice to read before investing your money
Published by Thriftbooks.com User , 27 years ago
This book is easy reading and presents a healthy perspective on how to think before investing. I think this book and Johnson's "A Random Walk and Beyond" are very helpful resources, especially compared to Lynch's pablum.
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