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Efficiently Inefficient

Author: Lasse Heje Pedersen

Publisher: Princeton University Press

Published: 2019-09-17

Total Pages: 368

ISBN-13: 0691196095

Efficiently Inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money--and why they sometimes don't. Pedersen views markets as neither perfectly efficient nor completely inefficient. Rather, they are inefficient enough that money managers can be compensated for their costs through the profits of their trading strategies and efficient enough that the profits after costs do not encourage additional active investing. Understanding how to trade in this efficiently inefficient market provides a new, engaging way to learn finance. Pedersen analyzes how the market price of stocks and bonds can differ from the model price, leading to new perspectives on the relationship between trading results and finance theory. He explores several different areas in depth--fundamental tools for investment management, equity strategies, macro strategies, and arbitrage strategies--and he looks at such diverse topics as portfolio choice, risk management, equity valuation, and yield curve logic. The book's strategies are illuminated further by interviews with leading hedge fund managers: Lee Ainslie, Cliff Asness, Jim Chanos, Ken Griffin, David Harding, John Paulson, Myron Scholes, and George Soros.

Efficiently Inefficient

Author: Lasse Heje Pedersen

Publisher: Princeton University Press

Published: 2015-04-13

Total Pages: 369

ISBN-13: 1400865735

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Financial market behavior and key trading strategies—illuminated by interviews with top hedge fund experts Efficiently Inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money—and why they sometimes don't. Pedersen views markets as neither perfectly efficient nor completely inefficient. Rather, they are inefficient enough that money managers can be compensated for their costs through the profits of their trading strategies and efficient enough that the profits after costs do not encourage additional active investing. Understanding how to trade in this efficiently inefficient market provides a new, engaging way to learn finance. Pedersen analyzes how the market price of stocks and bonds can differ from the model price, leading to new perspectives on the relationship between trading results and finance theory. He explores several different areas in depth—fundamental tools for investment management, equity strategies, macro strategies, and arbitrage strategies—and he looks at such diverse topics as portfolio choice, risk management, equity valuation, and yield curve logic. The book’s strategies are illuminated further by interviews with leading hedge fund managers: Lee Ainslie, Cliff Asness, Jim Chanos, Ken Griffin, David Harding, John Paulson, Myron Scholes, and George Soros. Efficiently Inefficient effectively demonstrates how financial markets really work. Free problem sets are available online at http://www.lhpedersen.com

Efficiently Inefficient

Author: Lasse Heje Pedersen

Publisher: Princeton University Press

Published: 2015-04-13

Total Pages: 368

ISBN-13: 0691166196

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This is Lean

Author: Niklas Modig

Publisher: CENTRAL BOOKS

Published: 2012

Total Pages: 0

ISBN-13: 9789198039306

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This book is relevant to any kind of business and is currently being used by a number of multi-national companies, including AstraZeneca, Ericsson, Scania and Volvo.

The Efficiency Paradox

Author: Edward Tenner

Publisher: Vintage

Published: 2018-04-17

Total Pages: 320

ISBN-13: 0525520309

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A bold challenge to our obsession with efficiency—and a new understanding of how to benefit from the powerful potential of serendipity. Algorithms, multitasking, the sharing economy, life hacks: our culture can't get enough of efficiency. One of the great promises of the Internet and big data revolutions is the idea that we can improve the processes and routines of our work and personal lives to get more done in less time than we ever have before. There is no doubt that we're performing at higher levels and moving at unprecedented speed, but what if we're headed in the wrong direction? Melding the long-term history of technology with the latest headlines and findings of computer science and social science, The Efficiency Paradox questions our ingrained assumptions about efficiency, persuasively showing how relying on the algorithms of digital platforms can in fact lead to wasted efforts, missed opportunities, and, above all, an inability to break out of established patterns. Edward Tenner offers a smarter way of thinking about efficiency, revealing what we and our institutions, when equipped with an astute combination of artificial intelligence and trained intuition, can learn from the random and unexpected.

Market Liquidity

Author: Yakov Amihud

Publisher: Cambridge University Press

Published: 2013

Total Pages: 293

ISBN-13: 0521191769

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This book explores the effect of liquidity on asset prices, liquidity variations over time and how liquidity risk affects prices.

Health System Efficiency

Author: Jonathan Cylus

Publisher: Health Policy

Published: 2016-12-15

Total Pages: 264

ISBN-13: 9789289050418

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In this book the authors explore the state of the art on efficiency measurement in health systems and international experts offer insights into the pitfalls and potential associated with various measurement techniques. The authors show that: - The core idea of efficiency is easy to understand in principle - maximizing valued outputs relative to inputs, but is often difficult to make operational in real-life situations - There have been numerous advances in data collection and availability, as well as innovative methodological approaches that give valuable insights into how efficiently health care is delivered - Our simple analytical framework can facilitate the development and interpretation of efficiency indicators.

Asset Management

Author: Andrew Ang

Publisher: Financial Management Associati

Published: 2014

Total Pages: 717

ISBN-13: 0199959323

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Stocks and bonds? Real estate? Hedge funds? Private equity? If you think those are the things to focus on in building an investment portfolio, Andrew Ang has accumulated a body of research that will prove otherwise. In this book, Ang upends the conventional wisdom about asset allocation by showing that what matters aren't asset class labels but the bundles of overlapping risks they represent.

Global Macro Trading

Author: Greg Gliner

Publisher: John Wiley & Sons

Published: 2014-06-09

Total Pages: 374

ISBN-13: 111836242X

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Brings global macro trading down to earth for individual and professional traders, investors and asset managers, as well being a useful reference handbook Global Macro Trading is an indispensable guide for traders and investors who want to trade Global Macro – it provides Trading Strategies and overviews of the four asset classes in Global Macro which include equities, currencies, fixed income and commodities. Greg Gliner, who has worked for some of the largest global macro hedge funds, shares ways in which an array of global macro participants seek to capitalize on this strategy, while also serving as a useful reference tool. Whether you are a retail investor, manage your own portfolio, or a finance professional, this book equips you with the knowledge and skills you need to capitalize in global macro. Provides a comprehensive overview of global macro trading, which consists of portfolio construction, risk management, biases and essentials to query building Equips the reader with introductions and tools for each of the four asset classes; equities, currencies, fixed income and commodities Arms you with a range of powerful global-macro trading and investing strategies, that include introductions to discretionary and systematic macro Introduces the role of central banking, importance of global macroeconomic data releases and demographics, as they relate to global macro trading

The Inefficiency Assassin

Author: Helene Segura

Publisher: New World Library

Published: 2016-03-04

Total Pages: 312

ISBN-13: 1608684016

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Slay Procrastination, Distraction, and Overwhelm! Who doesn’t want more time and energy for family, friends, and personal passions? Author Helene Segura coaches real people in the real world to operate more efficiently during the workday, so they can have a life outside it. Her engaging time management program caters to diverse learning styles, offering case studies that allow readers to self-diagnose and zero in on the strategies most appropriate for them. Anyone wanting to streamline workflow and improve productivity can employ her wonderfully doable techniques — for clearing task lists, handling reminder systems, scheduling a variety of priorities, and even managing emails and phone calls. Thanks to Segura’s astute attention to personality, The Inefficiency Assassin meets readers where they are struggling and details quick and easy-to-implement strategies to, as Segura promises, “kick chaos to the curb.”