Overview
". . . shining clarity and enviable originality" --Peter L.Bernstein, author of Against the Gods
"Mark Kritzman presents the reader with an entertaining way oflearning some serious finance." --Harry Markowitz, Nobel PrizeRecipient, 1990, Economic Sciences President, Harry MarkowitzCompany
Six challenging questions . . . six entertaining solutions,profound yet straightforward, and relevant to the everydaychallenge of investing and investment management.
Puzzles of Finance takes on today's most persistently challengingfinancial questions and, through clever examples and just plainlogic, helps you move beyond those questions to arrive at a deeperunderstanding of finance and the daily management of money. FromSiegel's Paradox ("Is it possible to profit from asymmetry ofexchange rate changes?") to questions of option value ("Why is thevalue of an option unaffected by the underlying asset's expectedreturn?"), Puzzles of Finance goes beyond vague theoreticalsuppositions to supply practical, concrete solutions that investorsand money managers can benefit from every day.
While the intellectually curious will be drawn to Puzzles ofFinance, it is the day-to-day finance professional who will derivethe most benefit from this remarkable book. In clear, conciselanguage-with more than a touch of humor-renowned author andfinancial professional Mark Kritzman simplifies six of today's mostperplexing financial riddles. Along the way, he presents a financeprimer as practical as it is profound, as illuminating as it isentertaining. Kritzman artfully explores the relationship of suchseemingly disparate fields as botany and thermodynamics to options.These proofs propel Puzzles of Finance forward with the pace of anovel. An easy-to-understand primer on financial concepts andquantitative methods combined with a technical glossary ensuresthat no concept is misunderstood.
The result is an unprecedented book that will change the way youview finance and investing. When you invest your time in readingPuzzles of Finance, you will uncover some of the most probing andinsightful lessons in financial literature today.
For updates on new and bestselling Wiley Finance books:wiley.com/wbns
Critical Praise for Puzzles of Finance
". . . an extraordinary combination of the elements of finance,commonsense wisdom, sparkling humor, shining clarity, and enviableoriginality. This is a potent blend by any standard of measurement.Long time Kritzman watchers, however, would anticipate nothingless." --Peter L. Bernstein, Author, Against the Gods
"A modest, lively, clever, little book. Kritzman's puzzles rangefrom party tidbits to the profound, and each is presented with abit of history, a lot of insight, and just the right measure ofwit. While he may not have intended it to be more than a collectionof interesting conundrums, Kritzman has actually created awonderful introduction to finance for the uninitiated withchallenges for even the most sophisticated." --Stephen A. Ross,Franco Modigliani Professor of Finance and Economics, Sloan School,MIT; Co-Chairman, Roll and Ross Asset Management Corp.
"Some people do crosswords. Mark Kritzman does financial puzzlesand his explications amuse and instruct. Financial theory has neverbeen this much fun."-Jack R. Meyer, President, Harvard ManagementCompany
"Puzzles of Finance should be a joy to finance mavens and eventheir friends! Perhaps all students of the field should be requiredto solve these six puzzles; they go to the heart of the intuitionsfor essential contributions, such as the pricing of options, themeaning of efficient diversification, and the definition of risk."--Kenneth A. Froot, Andre R. Jakurski Professor of BusinessAdministration and Director of Research, Harvard Business School
"Mark Kritzman presents the reader with an entertaining way oflearning some serious finance." --Harry Markowitz, Nobel PrizeRecipient, 1990, Economic Sciences President, Harry MarkowitzCompany
Six challenging questions . . . six entertaining solutions,profound yet straightforward, and relevant to the everydaychallenge of investing and investment management.
Puzzles of Finance takes on today's most persistently challengingfinancial questions and, through clever examples and just plainlogic, helps you move beyond those questions to arrive at a deeperunderstanding of finance and the daily management of money. FromSiegel's Paradox ("Is it possible to profit from asymmetry ofexchange rate changes?") to questions of option value ("Why is thevalue of an option unaffected by the underlying asset's expectedreturn?"), Puzzles of Finance goes beyond vague theoreticalsuppositions to supply practical, concrete solutions that investorsand money managers can benefit from every day.
While the intellectually curious will be drawn to Puzzles ofFinance, it is the day-to-day finance professional who will derivethe most benefit from this remarkable book. In clear, conciselanguage-with more than a touch of humor-renowned author andfinancial professional Mark Kritzman simplifies six of today's mostperplexing financial riddles. Along the way, he presents a financeprimer as practical as it is profound, as illuminating as it isentertaining. Kritzman artfully explores the relationship of suchseemingly disparate fields as botany and thermodynamics to options.These proofs propel Puzzles of Finance forward with the pace of anovel. An easy-to-understand primer on financial concepts andquantitative methods combined with a technical glossary ensuresthat no concept is misunderstood.
The result is an unprecedented book that will change the way youview finance and investing. When you invest your time in readingPuzzles of Finance, you will uncover some of the most probing andinsightful lessons in financial literature today.
For updates on new and bestselling Wiley Finance books:wiley.com/wbns
Critical Praise for Puzzles of Finance
". . . an extraordinary combination of the elements of finance,commonsense wisdom, sparkling humor, shining clarity, and enviableoriginality. This is a potent blend by any standard of measurement.Long time Kritzman watchers, however, would anticipate nothingless." --Peter L. Bernstein, Author, Against the Gods
"A modest, lively, clever, little book. Kritzman's puzzles rangefrom party tidbits to the profound, and each is presented with abit of history, a lot of insight, and just the right measure ofwit. While he may not have intended it to be more than a collectionof interesting conundrums, Kritzman has actually created awonderful introduction to finance for the uninitiated withchallenges for even the most sophisticated." --Stephen A. Ross,Franco Modigliani Professor of Finance and Economics, Sloan School,MIT; Co-Chairman, Roll and Ross Asset Management Corp.
"Some people do crosswords. Mark Kritzman does financial puzzlesand his explications amuse and instruct. Financial theory has neverbeen this much fun."-Jack R. Meyer, President, Harvard ManagementCompany
"Puzzles of Finance should be a joy to finance mavens and eventheir friends! Perhaps all students of the field should be requiredto solve these six puzzles; they go to the heart of the intuitionsfor essential contributions, such as the pricing of options, themeaning of efficient diversification, and the definition of risk."--Kenneth A. Froot, Andre R. Jakurski Professor of BusinessAdministration and Director of Research, Harvard Business School
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