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Investors and Markets:
Portfolio Choices, Asset Prices, and Investment Advice
William F. Sharpe

Book Description | Table of Contents
Preface [HTML] or [PDF format] | Chapter 1 [HTML] or [PDF format]

ADDITIONAL REVIEWS:

"[Sharpe's book] has much that is good: setting out complex issues such as the capital-asset pricing model and market risk/reward theorem in readily understandable terms, showing the importance of trading. Mime preferences, risk aversion, how individual actions, perhaps irrational on occasion, can still lead to a rational outcome, estimates of the equity risk premium, and the relative value of passive and active investing."--Andrew Milligan, The Business Economist

"Throughout the past 40 years, Sharpe has remained one of the most influential voices in finance for both academics and practitioners. As is true for all of Sharpe's writings, investment professionals will do well to read Investors and Markets and carefully absorb its insights."--Ronald L. Moy, Financial Analysts Journal

ADDITIONAL ENDORSEMENTS:

"Bill Sharpe has a wonderful knack for devising simple examples to draw out a succession of important lessons about portfolio choice and equilibrium asset prices."--Richard Brealey, London Business School

"Here is one of finance's great minds offering commonsense advice for individual investors who, for the most part, wander in the wilderness of the financial markets. Sharpe develops this advice from a high level of theoretical sophistication and analysis. His concerns are profound, his arguments are powerful and innovative, his language is refreshingly lucid, and his conclusions are compelling. Like Sharpe's earlier works, this book is a major contribution to the literature of finance."--Peter L. Bernstein, author of Capital Ideas: The Improbable Origins of Modern Wall Street

"Bill Sharpe is a highly original thinker and one of the most lucid and accessible writers in the field of finance. Investors and Markets artfully combines insights about portfolio choice and asset pricing that give individual investors a framework for making better savings and investment decisions."--Burton G. Malkiel, author of A Random Walk Down Wall Street

"Sharpe has managed to integrate the key areas of optimum portfolio choice and general equilibrium theory. While mean-variance portfolio theory has been around long enough that a number of books have been written that make it accessible to any MBA student, the same cannot be said for asset pricing theory except in its most elementary form. Sharpe's book will for the first time allow me to teach some of this important theory to my MBA students."--Martin J. Gruber, New York University

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File created: 11/10/2014

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