Against the Gods

The Remarkable Story of Risk

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Author: Peter L. Bernstein

Publisher: John Wiley & Sons

ISBN: 0470534532

Category: Business & Economics

Page: 400

View: 8149

A Business Week, New York Times Business, and USA Today Bestseller "Ambitious and readable . . . an engaging introduction to the oddsmakers, whom Bernstein regards as true humanists helping to release mankind from the choke holds of superstition and fatalism." —The New York Times "An extraordinarily entertaining and informative book." —The Wall Street Journal "A lively panoramic book . . . Against the Gods sets up an ambitious premise and then delivers on it." —Business Week "Deserves to be, and surely will be, widely read." —The Economist "[A] challenging book, one that may change forever the way people think about the world." —Worth "No one else could have written a book of such central importance with so much charm and excitement." —Robert Heilbroner author, The Worldly Philosophers "With his wonderful knowledge of the history and current manifestations of risk, Peter Bernstein brings us Against the Gods. Nothing like it will come out of the financial world this year or ever. I speak carefully: no one should miss it." —John Kenneth Galbraith Professor of Economics Emeritus, Harvard University In this unique exploration of the role of risk in our society, Peter Bernstein argues that the notion of bringing risk under control is one of the central ideas that distinguishes modern times from the distant past. Against the Gods chronicles the remarkable intellectual adventure that liberated humanity from oracles and soothsayers by means of the powerful tools of risk management that are available to us today. "An extremely readable history of risk." —Barron's "Fascinating . . . this challenging volume will help you understand the uncertainties that every investor must face." —Money "A singular achievement." —Times Literary Supplement "There's a growing market for savants who can render the recondite intelligibly-witness Stephen Jay Gould (natural history), Oliver Sacks (disease), Richard Dawkins (heredity), James Gleick (physics), Paul Krugman (economics)-and Bernstein would mingle well in their company." —The Australian

Pascal, Fermat und die Berechnung des Glücks

eine Reise in die Geschichte der Mathematik

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Author: Keith J. Devlin

Publisher: C.H.Beck

ISBN: 9783406590993

Category: Wahrscheinlichkeitstheorie - Geschichte

Page: 204

View: 4376

Der Autor stellt die Entstehung der Wahrscheinlichkeitsrechnung und den damit verbundenen Wandel des menschlichen Alltagslebens dar.

Expectations Investing - Investieren nach Erwartungen

Aktienkurse und Markterwartungen als Basis für Anlageentscheidungen Mit einem Vorwort von Peter L. Bernstein

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Author: Alfred Rappaport,Michael J. Mauboussin

Publisher: Wiley-VCH

ISBN: 9783527500352

Category: Business & Economics

Page: 238

View: 1769

Nur wirklich fundierte Anlageentscheidungen bergen das Potenzial überdurchschnittlicher Gewinne für Investoren. Das gilt besonders in Zeiten, in denen Märkte nicht stürmisch wachsen, sondern in denen sich die Spreu vom Weizen trennt. Hier genügt es nicht, "dabei zu sein", sich an den vergangenen Gewinnen zu orientieren und alles Übrige dem Zufall zu überlassen. Ob ein Unternehmen echten Mehrwert bietet, erweist sich vielmehr erst durch die sorgfältige Analyse seiner Zukunftsaussichten. Rappaport und Mauboussin vermitteln in ihrem Buch das Werkzeug, das Investoren für fundierte Entscheidungen benötigen. Sie kombinieren lang bewährte Konzepte wie z. B. das Modell des diskontierten Cashflows und die porterschen Grundelemente unternehmerischer Wettbewerbsstrategie. Hieraus entsteht ein völlig neuer Ansatz auf der Grundlage erwartungsgeleiteten Investierens. Langwierige Vorausschätzungen der künftigen Cashflows eines Unternehmens sind dabei entbehrlich. Stattdessen richten erwartungsgeleitete Investoren das Augenmerk auf den Aktienkurs und die Informationen, die dieser über die Erwartungen des Marktes im Hinblick auf den Shareholder-Value birgt. In diesem Buch erfahren Investoren, wie sie die Aktienkurse lesen und die Zukunft vorausdenken können. Es versetzt sie in die Lage, früher als andere zu erkennen, wo Verschiebungen der Markterwartungen stattfinden werden, und gibt ihnen damit den Schlüssel zu echten Zusatzgewinnen in die Hand.

Peter L. Bernstein Classics Collection

Capital Ideas, Against the Gods, The Power of Gold and Capital Ideas Evolving

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Author: Peter L. Bernstein

Publisher: John Wiley & Sons

ISBN: 1118519566

Category: Business & Economics

Page: 1512

View: 4981

A classic collection of titles from one of the world's greatestfinancial writers One of the foremost financial writers of his generation, thelate Peter Bernstein had the unique ability to synthesizeintellectual history and economics with the theory and practice ofinvestment management. Now, with the Peter L. Bernstein ClassicsCollection e-bundle, you will be able to enjoy some of the mostimportant and critically acclaimed books by this engaginginvestment writer—Capital Ideas, Against the Gods, ThePower of Gold, and Capital Ideas Evolving. Capital Ideas and Capital Ideas Evolving tracesthe origins of modern Wall Street, from the pioneering work ofearly scholars and the development of new theories in risk,valuation, and investment returns, to the actual implementation ofthese theories in the real world of investment management Against the Gods skillfully explores one of the mostprofound issues of our time—the role of risk in oursociety—in a non-technical and accessible style The Power of Gold tells the story of how history's mostcoveted, celebrated, and inglorious asset has inspired romanticmyths, daring explorations, and titanic struggles for money andpower Engaging and informative, Peter L. Bernstein ClassicsCollection puts the insights of one of the greatest financialwriters of our time at your fingertips.

Genie und Vererbung (Classic Reprint)

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Author: Francis Galton

Publisher: N.A

ISBN: 9781332457298

Category: Biography & Autobiography

Page: 456

View: 5697

Excerpt from Genie und Vererbung Die Bucherei hat es sich zur Aufgabe gemacht, einerseits dem deutschen Publikum die Hauptwerke der auslandischen Philosophie und Soziologie in guten Ubersetzungen nahezubringen, andererseits auch wertvolle deutsche Originalarbeiten in ihren Rahmen aufzunehmen. Wie ihr Erscheinen von den Fachgenossen aufgenommen wurde, zeigt eine Zuschirift Rudolf Euckens der dem Verleger folgendermassen schreibt: "Ich wunsche von Herzen Gluck zu den bedeutenden wissenschaftlichen Unternehmungen, die sie beginnen. Ich glaube, dass hier in Wahrheit eine Lucke besteht, welche dringend der Ausfullung bedarf: wir Deutschen haben zu wenig Beziehung zu den inneren geistigen Bewegungen der anderen Kulturvolker, und wir konnten daraus doch manches gewinnen." Es sollen ausser deutschen Philosophen zunachst die bedeutendsten Vertreter der auslandischen Philosophie mit charakteristischen Werken zu Worte kommen, daneben wird Ruck sieht darauf genommen, dass nicht nur fur den Fachmann interessante Werke zur Verdeutschung kommen, sondern auch solche, die fur ein grosseres philosophisch und soziologisch interessiertes Publikum Wert haben. Die beste Auskunft uber Plan und Ab sichten des Unternehmens gibt ein Blick auf die Titel der schon erschienenen und vorbereiteten Bande. Ein ausfuhrlicher Spezialprospekt uber die Gebiete Philosophie-Soziologie steht jederzeit umsonst zu Diensten. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works."

The Power of Gold

The History of an Obsession

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Author: Peter L. Bernstein

Publisher: John Wiley & Sons

ISBN: 1118282698

Category: Business & Economics

Page: 448

View: 4537

"The need for realism in reform of its monetary system is whatmakes Bernstein’s story of the Power of Gold so timely. It isa compelling reminder that maintaining a fixed price for gold andfixed exchange rates were difficult even in a simpler financialenvironment….Peter Bernstein was reluctant to project thestory of gold into the future. But to me his message was clear.Yes, gold will be with us, valued not only for its intrinsicqualities but as a last refuge and store of value in turbulenttimes. But its days as money, as a means of payment and a fixedunit of account are gone." —From the New Foreword by Paul Volcker This bestselling book reveals a record of human nature in theubiquity of gold with a new foreword by Paul Volcker In this exciting book, the late Peter L. Bernstein tells thestory of history's most coveted, celebrated, and inglorious asset:gold. From the ancient fascinations of Moses and Midas through themodern convulsions caused by the gold standard and its aftermath,gold has led many of its most eager and proud possessors to a badend. And while the same cycle of obsession and desperation mayreverberate in today's fast-moving, electronically-driven markets,the role of gold in shaping human history is the striking featureof this tumultuous tale. Such is the power of gold. Whether it is Egyptian pharaohs with depraved tastes, theluxury-mad survivors of the Black Death, the Chinese inventor ofpaper money, the pirates on the Spanish Main, or the hardnosedbelievers in the international gold standard, gold has been thesupreme possession. It has been an icon for greed and an emblem ofrectitude, as well as a vehicle for vanity and a badge of powerthat has shaped the destiny of humanity through the ages. Discusses the beginnings of gold as something with magical,religious, and artistic qualities and follows its trail as weprogress to the invention of coinage, the transformation of goldinto money, and the gold standard Other bestselling books by the late Peter Bernstein: Againstthe Gods, Capital Ideas, and Capital IdeasEvolving Contemplates gold from the diverse perspectives of monarchs andmoneyers, potentates and politicians, men of legendary wealth andothers of more plebeian beginnings Far more than a tale of romantic myths, daring explorations, andthe history of money and power struggles, The Power of Goldsuggests that the true significance of this infamous element maylie in the timeless passions it continues to evoke, and what thisreveals about ourselves.

Winning the loser's game

zeitlose Strategien für Ihre erfolgreiche Geldanlage

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Author: Charles D. Ellis

Publisher: N.A

ISBN: 9783593392325

Category:

Page: 249

View: 6254

Wie kann ich mein Geld sicher und gewinnbringend investieren? Diese Frage stellen sich Anleger weltweit - und das nicht erst seit der Finanzkrise. Die treffende Antwort von Charles D. Ellis lautet: Das Erfolgsgeheimnis der privaten Geldanlage liegt darin, weniger Fehler zu machen als die anderen. Verständlich und zeitlos erklärt der Börsenexperte in diesem vollständig überarbeiteten Klassiker, warum man mit ausgewogenen, langfristigen und kostengünstigen Investments deutlich höhere Renditen erzielen kann als mit risikoreichem Stock Picking oder spekulativem Market Timing. Ein qualitativ anspruchsvoller und trotzdem verständlicher Ratgeber für alle Privatanleger!

Wedding of the Waters: The Erie Canal and the Making of a Great Nation

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Author: Peter L. Bernstein

Publisher: W. W. Norton & Company

ISBN: 0393340201

Category: History

Page: 464

View: 4864

"One corner of the great American panorama enlarged to highlight starry-eyed visionaries, political machinations, indefatigable ingenuity, and cockeyed optimism."—Kirkus Reviews The building of the Erie Canal, like the construction of the Brooklyn Bridge and the Panama Canal, is one of the greatest and most riveting stories of American ingenuity. Best-selling author Peter Bernstein presents the story of the canal's construction against the larger tableau of America in the first quarter-century of the 1800s. Examining the social, political, and economic ramifications of this mammoth project, Bernstein demonstrates how the canal's creation helped prevent the dismemberment of the American empire and knit the sinews of the American industrial revolution. Featuring a rich cast of characters, including not only political visionaries like Washington, Jefferson, van Buren, and the architect's most powerful champion, Governor DeWitt Clinton, but also a huge platoon of Irish diggers as well as the canal's first travelers, Wedding of the Waters reveals that the twenty-first-century themes of urbanization, economic growth, and globalization can all be traced to the first great macroengineering venture of American history.

Wider die Götter

Die Geschichte der modernen Risikogesellschaft

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Author: Peter L. Bernstein

Publisher: N.A

ISBN: 3867745617

Category: Business & Economics

Page: 472

View: 4510

Der moderne Mensch, ob Politiker, Manager, Anleger, Wissenschaftler oder Glücksritter, steht ununterbrochen vor Alternativen und unter Entscheidungszwängen. Aus früherer Schicksalsgläubigkeit und Gottergebenheit wurde Risikomanagement. Aus Spiel Investition, aus Schicksal Geschicklichkeit. Peter L. Bernstein erzählt die Geschichte der Vision, die Zukunft in den Dienst der Gegenwart stellen zu können.

Risikomanagement

Banken, Versicherungen und andere Finanzinstitutionen

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Author: John Hull

Publisher: Pearson Deutschland GmbH

ISBN: 9783868940435

Category: Financial institutional

Page: 616

View: 6226

Economist on Wall Street (Peter L. Bernstein's Finance Classics)

Notes on the Sanctity of Gold, the Value of Money, the Security of Investments, and Other Delusions

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Author: Peter L. Bernstein

Publisher: John Wiley & Sons

ISBN: 9780470435199

Category: Business & Economics

Page: 336

View: 3347

One of the foremost financial writers of his generation, Peter Bernstein has the unique ability to synthesize intellectual history and economics with the theory and practice of investment management. Now, with classic titles such as Economist on Wall Street, A Primer on Money, Banking, and Gold, and The Price of Prosperity—which have forewords by financial luminaries and new introductions by the author—you can enjoy some of the best of Bernstein in his earlier Wall Street days. Peter Bernstein's Economist on Wall Street is a collection of writings from 1955 to 1970. The book is especially interesting because so many of Bernstein's observations reflect the most important issues of the present—the outlook for inflation and its control, the intricacies of monetary policy, the future of the dollar, and the dilemmas of household finances. Bernstein was also concerned with developments in portfolio management, including the new influence of institutional investors and rules for optimal asset mixes. He provides light touches, too, as he indulges in fantasies and philosophical musings over a wide variety of topics. With so many years of hindsight, we should not be surprised to find some of Bernstein's predictions running awry. But why? In each instance, these forecasts were biased by memories of the past. There is a big lesson to be learned there. Economist on Wall Street is a remarkable book, with lasting relevance and keen insights into the art of investment management, the capital markets, gold and the dollar, and the fun of being alive.

Capital Ideas Evolving

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Author: Peter L. Bernstein

Publisher: John Wiley & Sons

ISBN: 9781118046203

Category: Business & Economics

Page: 304

View: 2630

"A lot has happened in the financial markets since 1992, when Peter Bernstein wrote his seminal Capital Ideas. Happily, Peter has taken up his facile pen again to describe these changes, a virtual revolution in the practice of investing that relies heavily on complex mathematics, derivatives, hedging, and hyperactive trading. This fine and eminently readable book is unlikely to be surpassed as the definitive chronicle of a truly historic era." —John C. Bogle, founder of The Vanguard Group and author, The Little Book of Common Sense Investing "Just as Dante could not have understood or survived the perils of the Inferno without Virgil to guide him, investors today need Peter Bernstein to help find their way across dark and shifting ground. No one alive understands Wall Street's intellectual history better, and that makes Bernstein our best and wisest guide to the future. He is the only person who could have written this book; thank goodness he did." —Jason Zweig, Investing Columnist, Money magazine "Another must-read from Peter Bernstein! This well-written and thought-provoking book provides valuable insights on how key finance theories have evolved from their ivory tower formulation to profitable application by portfolio managers. This book will certainly be read with keen interest by, and undoubtedly influence, a wide range of participants in international finance." —Dr. Mohamed A. El-Erian, President and CEO of Harvard Management Company, Deputy Treasurer of Harvard University, and member of the faculty of the Harvard Business School "Reading Capital Ideas Evolving is an experience not to be missed. Peter Bernstein's knowledge of the principal characters-the giants in the development of investment theory and practice-brings this subject to life." —Linda B. Strumpf, Vice President and Chief Investment Officer, The Ford Foundation "With great clarity, Peter Bernstein introduces us to the insights of investment giants, and explains how they transformed financial theory into portfolio practice. This is not just a tale of money and models; it is a fascinating and contemporary story about people and the power of their ideas." —Elroy Dimson, BGI Professor of Investment Management, London Business School "Capital Ideas Evolving provides us with a unique appreciation for the pervasive impact that the theory of modern finance has had on the development of our capital markets. Peter Bernstein once again has produced a masterpiece that is must reading for practitioners, educators and students of finance." —André F. Perold, Professor of Finance, Harvard Business School

A Primer on Money, Banking, and Gold (Peter L. Bernstein's Finance Classics)

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Author: Peter L. Bernstein

Publisher: John Wiley & Sons

ISBN: 9780470435205

Category: Business & Economics

Page: 272

View: 3163

One of the foremost financial writers of his generation, Peter Bernstein has the unique ability to synthesize intellectual history and economics with the theory and practice of investment management. Now, with classic titles such as Economist on Wall Street, A Primer on Money, Banking, and Gold, and The Price of Prosperity—which have forewords by financial luminaries and new introductions by the author—you can enjoy some of the best of Bernstein in his earlier Wall Street days. With the proliferation of financial instruments, new areas of instability, and innovative capital market strategies, many economists and investors have lost sight of the fundamentals of the financial system—its strengths as well as its weaknesses. A Primer on Money, Banking, and Gold takes you back to the beginning and sorts out all the pieces. Peter Bernstein skillfully addresses how and why commercial banks lend and invest, where money comes from, how it moves from hand to hand, and the critical role of interest rates. He explores the Federal Reserve System and the consequences of the Fed's actions on the overall economy. But this book is not just about the past. Bernstein's novel perspective on gold and the dollar is critical for today's decision makers, as he provides extensive views on the future of money, banking, and gold in the world economy. This illuminating story about the heart of our economic system is essential reading at a time when developments in finance are more important than ever.

Streetwise

The Best of the Journal of Portfolio Management

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Author: Peter L. Bernstein,Frank J. Fabozzi

Publisher: Princeton University Press

ISBN: 9780691011288

Category: Business & Economics

Page: 321

View: 2291

"Streetwise" brings together classic articles from the publication that helped revolutionize the way Wall Street does business. The editors have selected 41 of the most influential articles to appear in the journal over the past 25 years, some of them written by Nobel laureates and all aimed at stimulating dialogue between academic economists and investment professionals.

Versicherungsökonomie

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Author: Peter Zweifel,Roland Eisen

Publisher: Springer-Verlag

ISBN: 3662107848

Category: Business & Economics

Page: 486

View: 4240

Das Buch macht den Leser mit den zentralen Fragestellungen und dem analytischen Werkzeug der Versicherungsökonomik vertraut. Es führt Beiträge zur Nachfrage nach Versicherung, zum Angebot an Versicherung und der Versicherungsregulierung sowie zur Sozialversicherung in einer vereinheitlichten Darstellung zusammen, die bisher nur verstreut in Zeitschriften und Sammelbänden verfügbar waren. Es werden empirisch überprüfbare Voraussagen der Theorie abgeleitet und den Ergebnissen internationaler empirischer Forschung gegenübergestellt. Ausformulierte Folgerungen fassen den Stoff zusammen und erleichtern die Kontrolle des Wissensstands.

Die intelligente Asset Allocation

Wie man profitable und abgesicherte Portfolios erstellt

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Author: William J. Bernstein

Publisher: FinanzBuch Verlag

ISBN: 3862488365

Category: Business & Economics

Page: 217

View: 747

William J. Bernstein ist in Fachkreisen längst als Guru der Investmentwelt bekannt. Er betreibt eine der weltweit erfolgreichsten Investment-Websites. In diesem Buch erklärt er wie man sicher, einfach und ohne großen Zeitaufwand sein Portfolio zusammenstellen kann. Dabei beruft er sich auf Techniken, mit denen seit Jahrzehnten erfolgreich Investiert wird. Mit nur 30 Minuten Zeitaufwand im Jahr kann damit jeder ein Portfolio zusammenstellen, das 75 Prozent aller professionell gemanagten Aktienkörbe hinter sich lässt.

Crashed

Wie zehn Jahre Finanzkrise die Welt verändert haben

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Author: Adam Tooze

Publisher: Siedler Verlag

ISBN: 3641192773

Category: Business & Economics

Page: 800

View: 5858

Zehn Jahre danach: Der Finanzcrash und seine dramatischen Folgen Als die US-Großbank Lehman Brothers im September 2008 zusammenbrach, war dies der Tiefpunkt der Banken- und Finanzkrise. Und obwohl der totale Kollaps der Weltwirtschaft damals verhindert wurde, ist die Finanzkrise noch lange nicht Geschichte, wie der britische Historiker Adam Tooze zeigt. Er schildert, wie es zu dieser Krise der Finanzmärkte kam und welche dramatischen Folgen sie bis heute hat. Denn nicht nur ist durch die Finanzkrise die Stabilität Europas ins Wanken geraten, sie hat auch das Vertrauen in die Kraft der globalen Wirtschaftsordnung erschüttert – und so zum Aufstieg der Populisten beigetragen.