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.
Dalam buku ini, Eric Weiner melakukan perjalanan keliling ke beberapa tempat di dunia untuk mencari tahu hubungan antara lingkungan kita dan ide-ide inovatif. |a menjelajahi sejarah kota-kota seperti Wina, Florence, Athena, Hangzhou, dan tentu saja Silicon Valley. Masih dengan gayanya yang nakal, cerdas, dan humoris, Weiner menapaktilasi jalanan yang pernah dilalui Socrates, Michaelangelo, dan Leonardo da Vinci. Ia juga merenungkan sejarah teori Darwin, pemikiran Freud, dan berjalan-jalan di hutan seperti yang dilakukan Beethoven zaman dulu. The Geography of Genius meredefinisi argumen tentang bagaimana seorang genius muncul. Weiner mengevaluasi ulang tentang bagaimana pentingnya budaya dalam memantik dan memelihara kreativitas. “Weiner itu seorang filsuf, pemandu perjalanan, dan motivator, tentu saja dia juga kocak!" -Vanity Fair [Mizan Publishing, Qanita, Traveling, Budaya, Masyarakat, Indonesia]
Essential to the composer's method of song-writing was a harmony between musical form and poetic text. Sams takes us right to the heart of that creative method and helps to explain how and why a particular part of the text matches a particular piece of music. He includes a list of the motifs employed by Brahms to help show how the mind of the composer worked when seeking apposite music for the imagery of the poem."--BOOK JACKET.
Papers Read at the Joint Meeting of the Society for Old Testament Study and Het Oud Testamentisch Werkgezelschap in Nederland en België, Apeldoorn August 2006
Papers Read at the Joint Meeting of the Society for Old Testament Study and Het Oud Testamentisch Werkgezelschap in Nederland en België, Apeldoorn August 2006
The essays in this volume focus on the interpretation of the Book of Psalms and comparable texts in the Hebrew Bible. A variety of methods is applied to the ancient texts. Some essays concentrate on composition and structure, others on redaction and context. It is of great interest to see that each approach has its strength and its limits: stressing the importance to read the Psalms with a multi-dimensional matrix of methods. By viewing the Psalms as prayers, and thus as expressions of both faith and despair, a perspective on the contents of the ancient hymns and their functions in daily life has been opened. This volume contains various incentives for future research.
A few years ago, I came into contact with the concept high sensitivity and HSP (high sensitive person). I read books, websites, stories from other highly sensitive persons and did tests. It was very clear to me that I was a highly sensitive person. It didn't change my reality, but it gave me explanations for why I always felt different, why I didn't seem to be able to function like others. Most of the poems in this book were written before I knew the concept of high sensitivity. They are about searching, about not fitting in, about being different, but also about having an enormously strong drive to create, to be creative, and that it can be a way to exist. Many of the poems are dark, some really dark, but I believe that there are other highly sensitive persons who have felt and thought similarly. Maybe my poems can be helpful by showing that you are not alone in this. That the darkness can exist with acceptance instead of being fought and that it is possible to find light even where and when it is darkest. We cannot ignore the darkness; we cannot pretend that it does not exist. It exists. It is part of us and therefore has the right to exist. Expressing the darkness through writing and reading or other creativity can be a way to get it out and thus give it an opportunity to sink away and release its grip on you. You may even be able to direct that energy into something constructive instead of destructive. The poems can convey that this is our reality and it's ok. It may still be hard and difficult but you are not wrong as a human being. You are ok as a human being and this is part of what we go through as highly sensitive persons. HSP - Highly sensitive people have a nervous system that is more sensitive than the average person. They notice many subtle details in their environment and process them deep within themselves. High sensitivity is an innate personality trait found in 15-20% of the global population.
It has for decades been part of the canon of maxims of basic research that most images of rulers in early medieval book illustrations have been transmitted in liturgical manuscripts, i.e. manuscripts originally intended for divine worship. There have however to date been few investigations which draw serious consequences from this and which also view miniatures of rulers in the light of their functional aspects, for example as ‘memorial depictions’ (O.G. Oexle), or on the basis of the social reality of the pious motives behind their presentation. This study gives a more precise explanation of the function and purpose of ruler-images by examining a few selected early medieval miniatures. It analyzes the historical and social contexts of their genesis and the liturgical and commemorative aims of their use against the setting of the social form of remembrance of confraternity.
Athens is often considered to have been the birth place of democracy but there were many democracies in Greece during the Archaic and Classical periods and this is a study of the other democratic states. Robinson begins by discussing ancient and modern definitions of democracy, he then examines Greek terminology, investigates the evidence for other early democratic states and draws conclusions about its emergence.
Bourbon is booming, and this guide will teach you all you need to know. Eric Zandona - spirits specialist at the American Distilling Institute - explores 140 of the finest bourbons in the world, from the big-name classics to tiny craft distilleries, with flavour profiles and recommendations for the best way to drink each one. Also featuring recipes for 20 classic bourbon cocktails, as well as chapters on the history of bourbon, how the drink is made and the key things you need to understand when buying a bottle, The Bourbon Bible is the ultimate guide to the ultimate drink.
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