Finding Alpha – Eric Falkenstein

Description

Buy Finding Alpha – Eric Falkenstein Course at esyGB. You will have immediate access to the digital downloads in your account or your order email.

Praise for Finding Alpha

"Eric Falkenstein is more than one of the smartest and funniest people in finance. He's been a banker, a key model builder at a major rating agency, and a hedge fund trader. In this tour de force, he outlines the successes and failures of financial theory applications in the real world from the perspective of an aggressive early adopter of the best ideas in finance. To this day, I think Eric's private firm default model is one of the best papers ever published in applied finance, and this wonderful book falls into the same category."

—Donald R. van Deventer, PhD, founder and Chief Executive Officer, Kamakura Corporation

"People dismissed Columbus when he said the world was round. Thank goodness he persisted. Like Columbus, Falkenstein challenges standard thinking, only this time about risk and reward. As the meltdown of the capital markets has shown, the financial industry clearly missed something with regard to risk management. As an industry, we need to consider alternative theories on risk, and clearly Falkenstein is on to something here. Agree with him or not, Finding Alpha is worth a read."

—Kevin M. Blakely, President and CEO,The Risk Management Association

"Writing through the lens of an experienced practitioner, Falkenstein digests decades of research in capital markets, financial economics, and investment psychology that have shaped modern investment theory. This text is an excellent companion for portfolio managers, investment students, or anyone seeking to better understand the relationship between risk, returns, and financial reward."

—Todd Houge, PhD, CFA, The University of Iowa

How do we find alpha whenrisk does not correlate with return?

Finding Alpha is a practical guide to achieving alpha when conventional measures of risk rarely correlate with higher returns. Author Eric Falkenstein-a PhD who has also been a risk manager and portfolio manager—tells the story of alpha from its beginnings to its current reversal, where risk is now evidenced by return as opposed to vice versa.

Falkenstein begins by walking readers through the Capital Asset Pricing Model (CAPM), as well as other well-documented theories about risk and return, and explores how these theories measure up to current empirical evidence being documented by researchers and academics. He also outlines a novel approach to the issues of how benchmark risk and investor overconfidence affects expected asset returns, how to understand the nature of alpha and risk, and how to use practical applications of alpha-seeking strategies that he developed as a successful hedge fund manager.

Finding Alpha concludes by outlining some real-life applications of alpha in finance and explains how the search for alpha affects the day-to-day life of all financial professionals.

From the Inside Flap

In 1992, a long-established finance theory was turned upside down when researchers published a paper in the Journal of Finance—later cited in the New York Times—which documented that the main empirical implication of the Capital Asset Pricing Model (CAPM) was untrue: that is, that "beta" was not positively related to stock returns. The article, later corroborated in many subsequent studies, was to be one of the most heavily cited Journal of Finance articles in its history. The basic model of risk and return that academics had taught for decades was shown to be empirically useless, and subsequent extensions have been successful only by redefining risk merely as anything with a high average return. Since that groundbreaking article was published, practitioners have been left asking: So how do we find alpha if we can't measure risk?

Finding Alpha offers a new approach to finding alpha, backed by current empirical evidence and grounded in the notion that risk and return are not necessarily correlated. Author Eric Falkenstein offers a serious criticism and counterproposal to current financial theory on risk and return that is comprehensive yet understandable to the average person. He argues convincingly for replacing the old assumptions with new ones, primarily replacing greed and introducing another factor—the innate human desire for hope and certainty. Falkenstein clearly shows that once one understands that "risk adjusting" returns, in the sense of adjusting for a priced risk factor, is a red herring, one can search for alpha more productively.

The author brings his theories down to earth with practical applications of alpha-seeking strategies that he developed through his own experience at Moody's Risk Management Services and with his own investment company. But ultimately, as the author shows, alpha is about finding a comparative advantage, both in the financial markets and in life. This means sticking to things you are good at, things you enjoy doing, because those are the things where making that extra effort is costless because it is something you like to do. That is the risk-taking that leads to greater returns. Maximizing your alpha should provide you with not merely a way to maximize your income, says Falkenstein, but also give you the greatest satisfaction, and the most meaning, in your life.

Get Finding Alpha – Eric Falkenstein , Only Price $47

Tag: Finding Alpha – Eric Falkenstein  Review. Finding Alpha – Eric Falkenstein  download. Finding Alpha – Eric Falkenstein  discount.

Buy the Finding Alpha – Eric Falkenstein course at the best price at esy[GB]. Upon completing your purchase, you will gain immediate access to the downloads page. Here, you can download all associated files from your order. Additionally, we will send a download notification email to your provided email address.

Unlock your full potential with Finding Alpha – Eric Falkenstein courses. Our meticulously designed courses are intended to help you excel in your chosen field.

Why wait? Take the first step towards greatness by acquiring our Finding Alpha – Eric Falkenstein courses today. We offer a seamless and secure purchasing experience, ensuring your peace of mind. Rest assured that your financial information is safeguarded through our trusted payment gateways, Stripe and PayPal.

Stripe, known for its robust security measures, provides a safe and reliable payment process. Your sensitive data remains confidential throughout the transaction thanks to its encrypted technology. Your purchase is fully protected.

PayPal, a globally recognized payment platform, adds an extra layer of security. With its buyer protection program, you can make your purchase with confidence. PayPal ensures that your financial details are safeguarded, allowing you to focus on your learning journey.

Is it secure? to Use of?

• Your identity is kept entirely confidential. We do not share your information with anyone. So, it is absolutely safe to buy the Finding Alpha – Eric Falkenstein course.
• 100% Safe Checkout Privateness coverage
• Communication and encryption of sensitive data.
• All card numbers are encrypted using AES with a 256-bit key at rest. Transmitting card numbers occurs in a separate hosting environment and does not share or store any data.

How can this course be delivered?

• After your successful payment this “Finding Alpha – Eric Falkenstein course”, Most of the products will come to you immediately. But for some products were posted for offer. Please wait for our response, it might take a few hours due to the time zone difference.
• If this occurs, please be patient. Our technical department will process the link shortly after, and you will receive notifications directly via email. We appreciate your patience.

What Shipping Methods Are Available?

• You will receive a download link in the invoice or YOUR ACCOUNT.
• The course link is always accessible through your account. Simply log in to download the Finding Alpha – Eric Falkenstein course whenever you need it.
• You only need to visit a single link, and you can get all the Finding Alpha – Eric Falkenstein course content at once.
• You can choose to learn online or download for better results, and you can study anywhere on any device. Please ensure that your system does not enter sleep mode during the download.

How Do I Track Order?

• We promptly update the status of your order after your payment is completed. If, after 7 days, there is no download link, the system will automatically process a refund.
• We value your feedback and are eager to hear from you. Please do not hesitate to reach out via email us with any comments, questions and suggestions.