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The authors come up with an alternative to the Markowitz approach for portfolio selection based on something they call a simugram, which looks to be computer intensive.
Much of the book is spent on fundamental analysis, and indeed the authors do not seem favorably disposed to technical analysis. They dump on Black-Scholes and blame its use for the collapse of LTCM and Enron.
Some finance professionals will find much of this book annoying, since it attacks many standard concepts, such as the Efficient Market Hypothesis. And it seems to attack some of the basic tools in the finance tool kit, such as "risk neutral" evaluation.
One of the troubling things I found is that though the authors attack the canon of modern finance, they have only limited alternatives to recommend. They seem to recommend either doing deep fundamental analysis, using their complex simugram portfolio analysis, or putting one's money into an index fund. Most of us don't have the time to do the first or the software to do the second. To do the third really gives up on mathematical finance.
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physics! Along with the intro. physics (Halliday,Resnick,Walker)
book it is my other favorite physics book. All the topics in modern physics are covered by it and covered well. The graphics, problems, and examples are excellent and appropriate to the degree of difficultly. A good introductory book! A wonderful reference book that I'm still using!. If your looking for a way to learn and educate about modern topics and physics then get this book!
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I may be biased as several of the articles/definitions are contributions of my past professors, but the consistency of the writing doesn't hint that it is a compilation from many different experts.
In most cases, the contributing authors are the foremost authorities in their respective fields. That is apparent in the quality of this world-class publication.
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