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Pandora's Risk : Uncertainty at the Core of Finance / Kent Osband.

By: Material type: TextTextSeries: Columbia Business School PublishingPublisher: New York, NY : Columbia University Press, [2011]Copyright date: ©2011Description: 1 online resource (304 p.) : 40 line drawings, 5 tablesContent type:
Media type:
Carrier type:
ISBN:
  • 9780231151733
  • 9780231525411
Subject(s): DDC classification:
  • 658.155 23
LOC classification:
  • HD61 .O83 2011
  • HD61
Other classification:
  • online - DeGruyter
Online resources: Available additional physical forms:
  • Issued also in print.
Contents:
Frontmatter -- Contents -- Preface -- Acknowledgments -- Abbreviations -- 1. Introduction -- 2. The Ultimate Confidence Game -- 3. Great Expectations -- 4. Sustainable Debt -- 5. The Midas Touch -- 6. Safety in Numbers -- 7. When God Changes Dice -- 8. Credit-ability -- 9. Insecuritization -- 10. Risks in Value-at-Risk -- 11. Resizing Risks -- 12. Conclusions -- Appendix -- References -- Index
Summary: Author of the acclaimed work Iceberg Risk: An Adventure in Portfolio Theory, Kent Osband argues that uncertainty is central rather than marginal to finance. Markets don't trade mainly on changes in risk. They trade on changes in beliefs about risk, and in the process, markets unite, stretch, and occasionally defy beliefs. Recognizing this truth would make a world of difference in investing. Belittling uncertainty has created a rift between financial theory and practice and within finance theory itself, misguiding regulation and stoking huge financial imbalances.Sparking a revolution in the mindset of the investment professional, Osband recasts the market as a learning machine rather than a knowledge machine. The market continually errs, corrects itself, and makes new errors. Respecting that process, without idolizing it, will promote wiser investment, trading, and regulation. With uncertainty embedded at its core, Osband's rational approach points to a finance theory worthy of twenty-first-century investing.
Holdings
Item type Current library Call number URL Status Notes Barcode
eBook eBook Biblioteca "Angelicum" Pont. Univ. S.Tommaso d'Aquino Nuvola online online - DeGruyter (Browse shelf(Opens below)) Online access Not for loan (Accesso limitato) Accesso per gli utenti autorizzati / Access for authorized users (dgr)9780231525411

Frontmatter -- Contents -- Preface -- Acknowledgments -- Abbreviations -- 1. Introduction -- 2. The Ultimate Confidence Game -- 3. Great Expectations -- 4. Sustainable Debt -- 5. The Midas Touch -- 6. Safety in Numbers -- 7. When God Changes Dice -- 8. Credit-ability -- 9. Insecuritization -- 10. Risks in Value-at-Risk -- 11. Resizing Risks -- 12. Conclusions -- Appendix -- References -- Index

restricted access online access with authorization star

http://purl.org/coar/access_right/c_16ec

Author of the acclaimed work Iceberg Risk: An Adventure in Portfolio Theory, Kent Osband argues that uncertainty is central rather than marginal to finance. Markets don't trade mainly on changes in risk. They trade on changes in beliefs about risk, and in the process, markets unite, stretch, and occasionally defy beliefs. Recognizing this truth would make a world of difference in investing. Belittling uncertainty has created a rift between financial theory and practice and within finance theory itself, misguiding regulation and stoking huge financial imbalances.Sparking a revolution in the mindset of the investment professional, Osband recasts the market as a learning machine rather than a knowledge machine. The market continually errs, corrects itself, and makes new errors. Respecting that process, without idolizing it, will promote wiser investment, trading, and regulation. With uncertainty embedded at its core, Osband's rational approach points to a finance theory worthy of twenty-first-century investing.

Issued also in print.

Mode of access: Internet via World Wide Web.

In English.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 02. Mrz 2022)