William N. Goetzmann's Books

Money Changes Everything

How Finance Made Civilization Possible

By: William N. Goetzmann

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Money Changes Everything

How Finance Made Civilization Possible

By: William N. Goetzmann

[A] magnificent history of money and finance."—New York Times Book Review "Convincingly makes the case that finance is a change-maker of change-makers."—Financial Times In the aftermath of recent financial crises, it's easy to see finance as a wrecking ball: something that destroys fortunes and jobs, and undermines governments and banks. In Money Changes Everything, leading financial historian William Goetzmann argues the exact opposite—that the development of finance has made the growth of civilizations possible. Goetzmann explains that finance is a time machine, a technology that allows us to move value forward and backward through time; and that this innovation has changed the very way we think about and plan for the future. He shows how finance was present at key moments in history: driving the invention of writing in ancient Mesopotamia, spurring the classical civilizations of Greece and Rome to become great empires, determining the rise and fall of dynasties in imperial China, and underwriting the trade expeditions that led Europeans to the New World. He also demonstrates how the apparatus we associate with a modern economy—stock markets, lines of credit, complex financial products, and international trade—were repeatedly developed, forgotten, and reinvented over the course of human history. Exploring the critical role of finance over the millennia, and around the world, Goetzmann details how wondrous financial technologies and institutions—money, bonds, banks, corporations, and more—have helped urban centers to expand and cultures to flourish. And it's not done reshaping our lives, as Goetzmann considers the challenges we face in the future, such as how to use the power of finance to care for an aging and expanding population. Money Changes Everything presents a fascinating look into the way that finance has steered the course of history.

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598

Publisher

Princeton University Press

Published Date

ISBN 10

0691178372

ISBN 13

9780691178370

The Equity Risk Premium

Essays and Explorations

By: William N. Goetzmann,Roger G. Ibbotson

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The Equity Risk Premium

Essays and Explorations

By: William N. Goetzmann,Roger G. Ibbotson

What is the return to investing in the stock market? Can we predict future stock market returns? How have equities performed over the last two centuries? The authors in this volume are among the leading researchers in the study of these questions. This book draws upon their research on the stock market over the past two dozen years. It contains their major research articles on the equity risk premium and new contributions on measuring, forecasting, and timing stock market returns, together with new interpretive essays that explore critical issues and new research on the topic of stock market investing. This book is aimed at all readers interested in understanding the empirical basis for the equity risk premium. Through the analysis and interpretation of two scholars whose research contributions have been key factors in the modern debate over stock market perfomance, this volume engages the reader in many of the key issues of importance to investors. How large is the premium? Is history a reliable guide to predict future equity returns? Does the equity and cash flows of the market? Are global equity markets different from those in the United States? Do emerging markets offer higher or lower equity risk premia? The authors use the historical performance of the world's stock markets to address these issues.

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Page Count

568

Publisher

Oxford University Press

Published Date

ISBN 10

0199881979

ISBN 13

9780199881970

Modern Portfolio Theory and Investment Analysis

By: Edwin J. Elton,Martin J. Gruber,Stephen J. Brown,William N. Goetzmann

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Modern Portfolio Theory and Investment Analysis

By: Edwin J. Elton,Martin J. Gruber,Stephen J. Brown,William N. Goetzmann

An update of a classic book in the field, Modern Portfolio Theory examines the characteristics and analysis of individual securities as well as the theory and practice of optimally combining securities into portfolios. It stresses the economic intuition behind the subject matter while presenting advanced concepts of investment analysis and portfolio management. Readers will also discover the strengths and weaknesses of modern portfolio theory as well as the latest breakthroughs.

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Page Count

748

Publisher

John Wiley & Sons

Published Date

ISBN 10

0470388323

ISBN 13

9780470388327

Fundamentals of Investments

By: Gordon J. Alexander,William F. Sharpe,Jeffery V. Bailey

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Fundamentals of Investments

By: Gordon J. Alexander,William F. Sharpe,Jeffery V. Bailey

This introduction provides a clear framework for understanding and analyzing securities, and covers the major institutional features and theories of investing. While the book presents a thorough discussion of investments, the authors keep the material practical, relevant, and easy to understand. The latest developments in investments are brought to life through the use of tables, graphs, and illustrations that incorporate current market information and academic research. An international content deals directly with international securities and securities markets throughout the book--along with currency management and interest rate parity. Up-to-date "Money Matters" articles reflect the latest real-world developments and are provided throughout each chapter to give readers a sense of how practitioners deal with various investment issues and use techniques. Other coverage includes an array of investment tools--presented through discussions on stocks, bonds, and other securities such as options and futures. A guide to reviewing, forecasting, and monitoring--for individuals preparing to make investments or take the CFA exam.

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Page Count

824

Publisher

Pearson Educación

Published Date

ISBN 10

9702603757

ISBN 13

9789702603757

The Efficient Market Theory and Evidence

Implications for Active Investment Management

By: Andrew Ang,William N. Goetzmann,Stephen M. Schaefer

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The Efficient Market Theory and Evidence

Implications for Active Investment Management

By: Andrew Ang,William N. Goetzmann,Stephen M. Schaefer

The Efficient Market Hypothesis (EMH) asserts that, at all times, the price of a security reflects all available information about its fundamental value. The implication of the EMH for investors is that, to the extent that speculative trading is costly, speculation must be a loser's game. Hence, under the EMH, a passive strategy is bound eventually to beat a strategy that uses active management, where active management is characterized as trading that seeks to exploit mispriced assets relative to a risk-adjusted benchmark. The EMH has been refined over the past several decades to reflect the realism of the marketplace, including costly information, transactions costs, financing, agency costs, and other real-world frictions. The most recent expressions of the EMH thus allow a role for arbitrageurs in the market who may profit from their comparative advantages. These advantages may include specialized knowledge, lower trading costs, low management fees or agency costs, and a financing structure that allows the arbitrageur to undertake trades with long verification periods. The actions of these arbitrageurs cause liquid securities markets to be generally fairly efficient with respect to information, despite some notable anomalies.

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Now Publishers Inc

Published Date

ISBN 10

1601984685

ISBN 13

9781601984685

Money Changes Everything

How Finance Made Civilization Possible

By: William N. Goetzmann

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Money Changes Everything

How Finance Made Civilization Possible

By: William N. Goetzmann

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598

Publisher

Princeton University Press

Published Date

ISBN 10

0691178372

ISBN 13

9780691178370

Discovered Lands, Invented Pasts

Transforming Visions of the American West

By: Jules David Prown,Buffalo Bill Historical Center,William Cronon,Yale University. Art Gallery,Nancy K. Anderson,Thomas Gilcrease Institute of American History and Art,Susan Prendergast Schoelwer

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Discovered Lands, Invented Pasts

Transforming Visions of the American West

By: Jules David Prown,Buffalo Bill Historical Center,William Cronon,Yale University. Art Gallery,Nancy K. Anderson,Thomas Gilcrease Institute of American History and Art,Susan Prendergast Schoelwer

A common theme of western American art is the transformation of the land through European-American exploration and resettlement. In this book, the authors look at western American art of the past three centuries, re-evaluating it from the perspectives of history, art history and American studies.

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248

Publisher

Yale University Press

Published Date

ISBN 10

0300057318

ISBN 13

9780300057317

Roald Amundsen and the Quest for the South Pole

By: Leo Flaherty,William H. Goetzmann

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Roald Amundsen and the Quest for the South Pole

By: Leo Flaherty,William H. Goetzmann

Chronicles Roald Amundsen's expedition to the South Pole.

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Page Count

116

Publisher

Chelsea House

Published Date

ISBN 10

0791013081

ISBN 13

9780791013083

The Four Pillars of Investing, Second Edition: Lessons for Building a Winning Portfolio

By: William J. Bernstein

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The Four Pillars of Investing, Second Edition: Lessons for Building a Winning Portfolio

By: William J. Bernstein

The classic guide to constructing a solid portfolio―without a financial advisor! First published two decades ago, The Four Pillars of Investing has been the go-to resource for an entire generation of investors. This updated edition of the investing classic provides the foundational knowledge you need to avoid the most common pitfalls and build a portfolio in today’s roller-coaster world of investing. Retired neurologist and master investor William J. Bernstein has seen it all throughout his career. Buying investments with borrowed money. Chasing past performance. Overestimating one’s own risk tolerance. Listening to cable news. These are just a few of the many mistakes he has witnessed smart, serious investors make, to the peril of their portfolios. Add to these behavioral errors such economic factors as deflation, sudden stock declines, soaring inflation, and the like—and investing can seem like something to be avoided at all costs. But with the right discipline and knowledge, you can build and manage an impressive portfolio. It all comes down to understanding four key pillars: Theory: Risk and return go hand in hand—you can’t make money without risk History: Understand past markets to understand today’s markets Psychology: Avoid the most common behavioral mistakes that tank portfolios Business: The cost of investment services can be high—unreasonably high After taking you on a deep dive into each of these topics, Bernstein walks you through the process of designing and maintaining a powerful portfolio. Times have changed. Economies have changed. And markets are ever-changing. But sound investing principles haven’t changed. Use The Four Pillars of Investing to stay a step ahead of your investing peers and build a portfolio to be proud of.

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Page Count

352

Publisher

McGraw Hill Professional

Published Date

ISBN 10

1264716427

ISBN 13

9781264716425

Book's by William N. Goetzmann

Money Changes Everything

Money Changes Everything

The Equity Risk Premium

The Equity Risk Premium

Modern Portfolio Theory and Investment Analysis

Modern Portfolio Theory and Investment Analysis

Fundamentals of Investments

Fundamentals of Investments

The Efficient Market Theory and Evidence

The Efficient Market Theory and Evidence

Money Changes Everything

Money Changes Everything

Discovered Lands, Invented Pasts

Discovered Lands, Invented Pasts

Roald Amundsen and the Quest for the South Pole

Roald Amundsen and the Quest for the South Pole

The Four Pillars of Investing, Second Edition: Lessons for Building a Winning Portfolio

The Four Pillars of Investing, Second Edition: Lessons for Building a Winning Portfolio

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