{"product_id":"market-sense-and-nonsense-hardcover","title":"Market Sense and Nonsense - Hardcover","description":"\u003cdiv\u003e\u003cp style=\"text-align: right;\"\u003e\u003ca href=\"https:\/\/reportcopyrightinfringement.com\/\" target=\"_blank\" rel=\"nofollow\"\u003e\u003cb\u003eReport copyright infringement\u003c\/b\u003e\u003c\/a\u003e\u003c\/p\u003e\u003c\/div\u003e\u003cp\u003eby \u003cb\u003eJack D. Schwager\u003c\/b\u003e (Author), \u003cb\u003eJoel Greenblatt\u003c\/b\u003e (Foreword by)\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eBestselling author, Jack Schwager, challenges the assumptions at the core of investment theory and practice and exposes common investor mistakes, missteps, myths, and misreads\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhen it comes to investment models and theories of how markets work, convenience usually trumps reality. The simple fact is that many revered investment theories and market models are flatly wrong--that is, if we insist that they work in the real world. Unfounded assumptions, erroneous theories, unrealistic models, cognitive biases, emotional foibles, and unsubstantiated beliefs all combine to lead investors astray--professionals as well as novices. In this engaging new book, Jack Schwager, bestselling author of \u003ci\u003eMarket Wizards\u003c\/i\u003e and \u003ci\u003eThe New Market Wizards\u003c\/i\u003e, takes aim at the most perniciously pervasive academic precepts, money management canards, market myths and investor errors. Like so many ducks in a shooting gallery, Schwager picks them off, one at a time, revealing the truth about many of the fallacious assumptions, theories, and beliefs at the core of investment theory and practice.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eA compilation of the most insidious, fundamental investment errors the author has observed over his long and distinguished career in the markets\u003c\/li\u003e \u003cli\u003eBrings to light the fallacies underlying many widely held academic precepts, professional money management methodologies, and investment behaviors\u003c\/li\u003e \u003cli\u003eA sobering dose of real-world insight for investment professionals and a highly readable source of information and guidance for general readers interested in investment, trading, and finance\u003c\/li\u003e \u003cli\u003eSpans both traditional and alternative investment classes, covering both basic and advanced topics\u003c\/li\u003e \u003cli\u003eAs in his best-selling \u003ci\u003eMarket Wizard\u003c\/i\u003e series, Schwager manages the trick of covering material that is pertinent to professionals, yet writing in a style that is clear and accessible to the layman\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e \u003c\/p\u003e \u003cp\u003e \u003c\/p\u003e\u003ch3\u003eFront Jacket\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eWhen it comes to investment models and theories of how markets work, convenience usually trumps reality. The simple fact is that many revered investment theories and market models are flatly wrong--that is, if we insist that they work in the real world. Unfounded assumptions, erroneous theories, unrealistic models, cognitive biases, emotional foibles, and unsubstantiated beliefs all combine to lead investors astray--professionals as well as novices.\u003c\/p\u003e In this engaging new book, Jack Schwager, bestselling author of the \u003ci\u003eMarket Wizards\u003c\/i\u003e series, takes aim at some of the most pervasive market precepts, money management misconceptions, and irrational investor behaviors. From the theory of efficient markets to buying in up markets and selling in down markets, Schwager turns each misguided idea on its head, one at a time. Supported by a wealth of well-documented historical evidence and a healthy dose of common sense, he exposes the truth about the cherished assumptions and fallacious thinking at the core of some of the most respected investment theories and models and explores many common investor errors. In this book, you'll discover why: \u003cul\u003e \u003cli\u003eExpert opinion is NOT more reliable than the proverbial dart-throwing chimp\u003c\/li\u003e \u003cli\u003eThe markets are NOT efficient\u003c\/li\u003e \u003cli\u003eLow volatility does NOT necessarily imply low risk, and high volatility does NOT necessarily imply high risk\u003c\/li\u003e \u003cli\u003eMarket prices are NOT normally distributed\u003c\/li\u003e \u003cli\u003eInvesting in equities when markets are doing well is NOT conducive to achieving above-average returns\u003c\/li\u003e \u003cli\u003eConcentrating on funds with the strongest record of returns is NOT a sound strategy\u003c\/li\u003e \u003cli\u003ePast returns are NOT a reliable indicator of future performance\u003c\/li\u003e \u003cli\u003eA hedge fund portfolio strategy is NOT riskier than a traditional portfolio approach\u003c\/li\u003e \u003cli\u003eVaR does NOT provide a good indication of worst-case risk\u003c\/li\u003e \u003cli\u003eSuperior performance does NOT necessarily imply manager skill\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eBut Schwager does much more than simply burst bubbles; he offers a sobering draught of real-world investment insight and guidance spanning both traditional and alternative investment classes. Drawing upon his years as an asset manager and trader, he shares priceless lessons on an array of investing topics, both basic and advanced, including portfolio management, risk assessment, investment selection, hedge fund investing, investment timing, and much more.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eMarket Sense and Nonsense\u003c\/i\u003e is an indispensable source of real-world market wisdom and investing know-how for investors of every ilk.\u003c\/p\u003e\u003ch3\u003eBack Jacket\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eMARKET SENSE AND NONSENSE\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eWhen it comes to investment models and theories of how markets work, convenience usually trumps reality. The simple fact is that many revered investment theories and market models are flatly wrong--that is, if we insist that they work in the real world. Unfounded assumptions, erroneous theories, unrealistic models, cognitive biases, emotional foibles, and unsubstantiated beliefs all combine to lead investors astray--pro- fessionals as well as novices. \u003c\/p\u003e\u003cp\u003eIn this engaging new book, Jack Schwager, bestselling author of the \u003ci\u003eMarket Wizards\u003c\/i\u003e series, takes aim at some of the most pervasive market precepts, money management misconceptions, and irrational investor behav- iors. From the theory of efficient markets to buying in up markets and selling in down markets, Schwager turns each misguided idea on its head, one at a time. Supported by a wealth of well-documented historical evidence and a healthy dose of common sense, he exposes the truth about the cherished assumptions and fallacious thinking at the core of some of the most respected investment theories and models and explores many common investor errors. In this book, you'll discover why: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eExpert opinion is NOT more reliable than the proverbial dart-throwing chimp\u003c\/li\u003e \u003cli\u003eThe markets are NOT efficient\u003c\/li\u003e \u003cli\u003eLow volatility does NOT necessarily imply low risk, and high volatility does NOT necessarily imply high risk\u003c\/li\u003e \u003cli\u003eMarket prices are NOT normally distributed\u003c\/li\u003e \u003cli\u003eInvesting in equities when markets are doing well is NOT conducive to achieving above-average returns\u003c\/li\u003e \u003cli\u003eConcentrating on funds with the strongest record of returns is NOT a sound strategy\u003c\/li\u003e \u003cli\u003ePast returns are NOT a reliable indicator of future performance\u003c\/li\u003e \u003cli\u003eA hedge fund portfolio strategy is NOT riskier than a traditional portfolio approach\u003c\/li\u003e \u003cli\u003eVaR does NOT provide a good indication of worst-case risk\u003c\/li\u003e \u003cli\u003eSuperior performance does NOT necessarily imply manager skill\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eBut Schwager does much more than simply burst bubbles; he offers a sobering draught of real-world invest- ment insight and guidance spanning both traditional and alternative investment classes. Drawing upon his years as an asset manager and trader, he shares priceless lessons on an array of investing topics, both basic and advanced, including portfolio management, risk assessment, investment selection, hedge fund investing, investment timing, and much more. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eMarket Sense and Nonsense\u003c\/i\u003e is an indispensable source of real-world market wisdom and investing know-how for investors of every ilk.\u003c\/p\u003e\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eJACK D. SCHWAGER\u003c\/b\u003e is a recognized industry expert on futures and hedge funds and the author of the widely acclaimed \u003ci\u003eMarket Wizards\u003c\/i\u003e and \u003ci\u003eSchwager on Futures\u003c\/i\u003e book series. He is currently the co-portfolio manager for the ADM Investor Services Diversified Strategies Fund, a portfolio of futures and FX managed accounts. He is also an advisor to Marketopper, an India-based quantitative trading firm. Previously, Mr. Schwager was a partner in the Fortune Group, a London-based hedge fund advisory firm, which specialized in creating customized hedge fund portfolios for institutional clients, and also spent over twenty years as a director of futures research for some of Wall Street's leading firms.\u003c\/p\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 368\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 1.21 x 9.05 x 6.33 IN\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e November 06, 2012\u003c\/div\u003e\n            ","brand":"BooksCloud","offers":[{"title":"Default Title","offer_id":52478774149427,"sku":"9781118494561","price":49.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0300\/5595\/6612\/files\/bzRRNWhoVTBIeUoxOEZwajhlWDZKZz09.webp?v=1759658369","url":"https:\/\/www.vysn.com\/products\/market-sense-and-nonsense-hardcover","provider":"VYSN","version":"1.0","type":"link"}