Title
Capital Ideas And Market Realities: Option Replication, Investor Behavior, And Stock Market Crashes,New
Delivery time: 8-12 business days (International)
In Capital Ideas And Market Realities, Bruce Jacobs Sifts Through The History Of Modern Finance, From The Efficient Market Hypothesis To Behavioral Psychology And Chaos Theory, To Determine The Cause Of Recent Market Crashes. He Finds That Some Investment Strategies, Especially Those Based On Theories That Ignore The Human Element, Tend To Selfdestruct, And Can Take Markets Down With Them. Ironically, It Is Often Those Strategies That Purport To Reduce The Risk Of Investing That Can Pose The Greatest Danger.Of Particular Concern Are Trading Strategies Based On The Nobel Prizewinning Option Pricing Model. This Model Gave Rise To Option Replication, A Technique For Synthesizing The Payoffs To An Option By Trading Between The Underlying Asset And Cash. Replication Requires Selling As Stock Prices Decline And Buying As Stock Prices Rise.When Enough Money Follows This Type Of Trendfollowing 'Dynamic Hedging,' Bubbles And Crashes Can Result. In 1987, Trading Related To An Option Replication Strategy Known As 'Portfolio Insurance' Led To The Largest Crash In U.S. Market History. Today, Similarly Mechanistic Trading Underlies Trillions Of Dollars In Exchangetraded And Overthecounter Options And Swaps, As Well As Myriad Institutional And Retail Products Designed To Provide Investors With Excess Returns At Low Or No Risk.Capital Ideas And Market Realities Uncovers The Risks These Strategies Pose For Market Stability And Investor Wealth. The Book Has Also Become A Lightning Rod In The Debate Over The Need For Better Investment Product Risk Disclosure.
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Shipping & Returns
Shipping
We ship your order within 2–3 business days for USA deliveries and 5–8 business days for international shipments. Once your package has been dispatched from our warehouse, you'll receive an email confirmation with a tracking number, allowing you to track the status of your delivery.
Returns
To facilitate a smooth return process, a Return Authorization (RA) Number is required for all returns. Returns without a valid RA number will be declined and may incur additional fees. You can request an RA number within 15 days of the original delivery date. For more details, please refer to our Return & Refund Policy page.
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Warranty
We provide a 2-year limited warranty, from the date of purchase for all our products.
If you believe you have received a defective product, or are experiencing any problems with your product, please contact us.
This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
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Frequently Asked Questions
- Q: What is the main focus of 'Capital Ideas and Market Realities'? A: 'Capital Ideas and Market Realities' primarily examines the interplay between investment strategies, human behavior, and market dynamics, particularly focusing on how certain financial models and strategies can lead to market crashes.
- Q: Who is the author of this book? A: The book is authored by Bruce I. Jacobs, a recognized figure in the field of finance.
- Q: How many pages does the book contain? A: The book has a total of 432 pages.
- Q: What type of binding does this book have? A: 'Capital Ideas and Market Realities' is available in hardcover binding, which is durable and suitable for long-term use.
- Q: When was 'Capital Ideas and Market Realities' published? A: The book was published on August 11, 1999.
- Q: What topics are covered in this book? A: The book covers various topics including the efficient market hypothesis, behavioral psychology, chaos theory, and the risks associated with option replication strategies.
- Q: Is this book suitable for beginners in finance? A: While the book provides valuable insights, it may be more suitable for readers with some prior knowledge of finance due to its in-depth analysis and theoretical discussions.
- Q: What can readers expect to learn from this book? A: Readers can expect to learn about the risks of certain investment strategies, the psychological factors influencing investor behavior, and the historical context of market crashes.
- Q: What is the condition of this book? A: The book is listed in 'Very Good' condition, indicating minimal wear and tear.
- Q: What is the edition of this book? A: This is the first edition of 'Capital Ideas and Market Realities'.