Books and Periodicals

Books, book chapters and trade-magazine articles written by our researchers.

Search the Library

  1. There are still people in economics and finance who reflexively model risk as a cost to be minimized subject to an expected return constraint. I could trace the error back 350 years, but I’ll start in the early 1950s.

  2. It’s hard to pick up a good anti-quant rant without seeing the phrase, “standard deviation is not risk.” I’m going to assess the various ideas — valid and absurd — behind this idea.

  3. A review of Kent Osband’s book Pandora’s Risk, which is a brilliant and unconventional exploration of important ideas in finance, including money, risk, uncertainty, credit, credit ratings, securitization and VaR.

  4. January 01, 2011

    Why do we use the same word, statistics, for numbers put out by the government and the science of applied probability? This question turns out to have a very interesting answer.

  5. Contrasting Harry Markowitz’s famous Modern Portfolio Theory (MPT) with an analog inspired by John Kelly, which we call Investment Growth Theory, or IGT.

  6. How institutional investors can use derivatives and leverage to increase returns, improve diversification and reduce risk.

  7. A collection of writings by and interviews with Benjamin Graham, the father of value investing, founder of the discipline of securities analysis, and mentor to Warren Buffett.

  8. There are far more dangerous ideas floated than a security transaction tax, and there are far stupider ones. But nothing comes to mind that is both more dangerous and more stupid.

  9. Carmen Reinhart and Kenneth Rogoff’s book This Time is Different is a pathetic, desperate attempt to salvage respect for the ancien régime of economics and the value of an enormous fixed investment of human capital in failed economic theories.

  10. Money changes human behavior. Instead of doing things that make local sense, like planting a crop so you can harvest it, or chopping down a tree to make a table, people obey market signals.