Finding Alpha: The Search for Alpha When Risk and Return Break Down (Repost)
Eric Falkenstein, "Finding Alpha: The Search for Alpha When Risk and Return Break Down"
2009 | ISBN-10: 0470445904 | 298 pages | PDF | 12 MB
2009 | ISBN-10: 0470445904 | 298 pages | PDF | 12 MB
An innovative guide to finding alpha in a world where risk usually does not correlate with higher returns Finding Alpha is a practical guide to achieving alpha when conventional measures of risk rarely correlate with higher returns. To start, author Eric Falkenstein–a PhD who has also been a risk manager and portfolio manager–walks readers through the Capital Asset Pricing Model (CAPM), as well as other well–documented theories about risk and return, and explores how these theories measure up to current empirical evidence being documented by researchers and academics. Rounding out the discussion, Falkenstein outlines prominent real examples of alpha in finance, and how the search for alpha affects the day–to–day life of all finance professionals. Eric Falkenstein, PhD (Eden Prairie, MN), developed RiskCalc TM, the world′s leading scoring tool for evaluating private firm default risk, while at Moody′s Risk Management Services.