{"product_id":"modern-portfolio-theory-website-foundations-analysis-and-new-developments-hardcover","title":"Modern Portfolio Theory, + Website: Foundations, Analysis, and New Developments - Hardcover","description":"\u003cp\u003eby \u003cb\u003eJack Clark Francis\u003c\/b\u003e (Author), \u003cb\u003eDongcheol Kim\u003c\/b\u003e (Author)\u003c\/p\u003e\u003cp\u003e\u003cb\u003eA through guide covering Modern Portfolio Theory as well as the recent developments surrounding it\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eModern portfolio theory (MPT), which originated with Harry Markowitz's seminal paper \"Portfolio Selection\" in 1952, has stood the test of time and continues to be the intellectual foundation for real-world portfolio management. This book presents a comprehensive picture of MPT in a manner that can be effectively used by financial practitioners and understood by students.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eModern Portfolio Theory\u003c\/i\u003e provides a summary of the important findings from all of the financial research done since MPT was created and presents all the MPT formulas and models using one consistent set of mathematical symbols. Opening with an informative introduction to the concepts of probability and utility theory, it quickly moves on to discuss Markowitz's seminal work on the topic with a thorough explanation of the underlying mathematics.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eAnalyzes portfolios of all sizes and types, shows how the advanced findings and formulas are derived, and offers a concise and comprehensive review of MPT literature\u003c\/li\u003e \u003cli\u003eAddresses logical extensions to Markowitz's work, including the Capital Asset Pricing Model, Arbitrage Pricing Theory, portfolio ranking models, and performance attribution\u003c\/li\u003e \u003cli\u003eConsiders stock market developments like decimalization, high frequency trading, and algorithmic trading, and reveals how they align with MPT\u003c\/li\u003e \u003cli\u003eCompanion Website contains Excel spreadsheets that allow you to compute and graph Markowitz efficient frontiers with riskless and risky assets\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eIf you want to gain a complete understanding of modern portfolio theory this is the book you need to read.\u003c\/p\u003e\u003ch3\u003eFront Jacket\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eModern portfolio theory (MPT), which was introduced by Harry Markowitz's seminal paper \"Portfolio Selection\" over sixty years ago, has stood the test of time. Both his original theory and extensions made to the model by Professors James Tobin and Bill Sharpe have won Nobel Prizes. Today, MPT has grown to impact portfolio managers, financial service organizations, individual investors, and the finance and economics classrooms of universities around the world.\u003c\/p\u003e \u003cp\u003eBuilding on three previous editions of the book \u003ci\u003ePortfolio Analysis, \u003c\/i\u003e of which coauthor Jack Clark Francis was an integral part, \u003ci\u003eModern Portfolio Theory\u003c\/i\u003e skillfully provides a concise review of portfolio theory and offers new insights. It can help busy finance professionals stay current on the theoretical developments in their field and allow students to gain a solid foundation in what MPT encompasses.\u003c\/p\u003e \u003cp\u003eDivided into six comprehensive parts, this reliable resource addresses various aspects of portfolio analysis by tracing the contributions made by different people in the decades since MPT was created. Along the way, it also explores new developments that may make MPT more valuable than ever. Topics that are discussed in detail include: \u003c\/p\u003e \u003cul\u003e \u003cli\u003eProbability foundations\u003c\/li\u003e \u003cli\u003eUtility analysis\u003c\/li\u003e \u003cli\u003eMean-variance portfolio analysis\u003c\/li\u003e \u003cli\u003eNon-mean-variance portfolio analysis\u003c\/li\u003e \u003cli\u003eAsset pricing models\u003c\/li\u003e \u003cli\u003eImplementation of portfolio theory\u003c\/li\u003e \u003cli\u003ePortfolio performance evaluations\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eAnd while this book uses mathematical and statistical explanations in its coverage of models and other subjects, the material is presented in way that is understandable to a wide range of readers--from finance veterans to those just entering the field--and supplemented with graphs.\u003c\/p\u003e \u003cp\u003eThe coauthors have also created several Excel spreadsheets that compute Markowitz efficient frontiers under various assumptions and circumstances. This user-friendly software is available online and can be easily downloaded. In addition, resources for professors can be found on Wiley's Global Education website.\u003c\/p\u003e \u003cp\u003eEngaging and accessible, \u003ci\u003eModern Portfolio Theory\u003c\/i\u003e contains essential insights on this discipline and offers a comprehensive look at its foundations, evolution, and implementation in today's dynamic world of finance.\u003c\/p\u003e\u003ch3\u003eBack Jacket\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eModern portfolio theory (MPT), which was introduced by Harry Markowitz's seminal paper \"Portfolio Selection\" over sixty years ago, has stood the test of time. Both his original theory and extensions made to the model by Professors James Tobin and Bill Sharpe have won Nobel Prizes. Today, MPT has grown to impact portfolio managers, financial service organizations, individual investors, and the finance and economics classrooms of universities around the world. \u003c\/p\u003e\u003cp\u003eBuilding on three previous editions of the book \u003ci\u003ePortfolio Analysis, \u003c\/i\u003e of which coauthor Jack Clark Francis was an integral part, \u003ci\u003eModern Portfolio Theory\u003c\/i\u003e skillfully provides a concise review of portfolio theory and offers new insights. It can help busy finance professionals stay current on the theoretical developments in their field and allow students to gain a solid foundation in what MPT encompasses. \u003c\/p\u003e\u003cp\u003eDivided into six comprehensive parts, this reliable resource addresses various aspects of portfolio analysis by tracing the contributions made by different people in the decades since MPT was created. Along the way, it also explores new developments that may make MPT more valuable than ever. Topics that are discussed in detail include: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eProbability foundations\u003c\/li\u003e \u003cli\u003eUtility analysis\u003c\/li\u003e \u003cli\u003eMean-variance portfolio analysis\u003c\/li\u003e \u003cli\u003eNon-mean-variance portfolio analysis\u003c\/li\u003e \u003cli\u003eAsset pricing models\u003c\/li\u003e \u003cli\u003eImplementation of portfolio theory\u003c\/li\u003e \u003cli\u003ePortfolio performance evaluations\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eAnd while this book uses mathematical and statistical explanations in its coverage of models and other subjects, the material is presented in way that is understandable to a wide range of readers--from finance veterans to those just entering the field--and supplemented with graphs. \u003c\/p\u003e\u003cp\u003eThe coauthors have also created several Excel spreadsheets that compute Markowitz efficient frontiers under various assumptions and circumstances. This user-friendly software is available online and can be easily downloaded. In addition, resources for professors can be found on Wiley's Global Education website. \u003c\/p\u003e\u003cp\u003eEngaging and accessible, \u003ci\u003eModern Portfolio Theory\u003c\/i\u003e contains essential insights on this discipline and offers a comprehensive look at its foundations, evolution, and implementation in today's dynamic world of finance.\u003c\/p\u003e\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eJACK CLARK FRANCIS\u003c\/b\u003e is Professor of Economics and Finance at Bernard M. Baruch College in New York City. His research focuses on investments, banking, and monetary economics, and he has had dozens of articles published in many refereed academic, business, and government journals. Dr. Francis was an assistant professor of finance at the University of Pennsylvania's Wharton School of Finance for five years and was a Federal Reserve economist for two years. He received his bachelor's and MBA from Indiana University and earned his PhD in finance from the University of Washington in Seattle. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eDONGCHEOL KIM\u003c\/b\u003e is a Professor of Finance at Korea University in Seoul. He served as president of the Korea Securities Association and editor-in-chief of the \u003ci\u003eAsia-Pacific Journal of Financial Studies\u003c\/i\u003e. Previously, he was a finance professor at Rutgers University. Kim has published articles in \u003ci\u003eFinancial Management, \u003c\/i\u003e the\u003ci\u003e Accounting Review, Journal of Financial and Quantitative Analysis, Journal of Economic Research, Journal of Finance, \u003c\/i\u003e and \u003ci\u003eJournal of the Futures Market\u003c\/i\u003e.\u003c\/p\u003e\n        \u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 576\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 1.8 x 10.2 x 7.2 IN\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eIllustrated:\u003c\/strong\u003e Yes\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e January 22, 2013\u003c\/div\u003e\n            ","brand":"Books by splitShops","offers":[{"title":"Default Title","offer_id":42127771926663,"sku":"9781118370520","price":108.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0601\/2623\/2711\/files\/177a116a0701e4c89673259a91ccf18c.webp?v=1732590540","url":"https:\/\/booksby.splitshops.com\/products\/modern-portfolio-theory-website-foundations-analysis-and-new-developments-hardcover","provider":"Books by splitShops","version":"1.0","type":"link"}