Synopsis
For a thought-provoking discussion of the problems of investing in central bank-infested markets, I strongly recommend Pascal Blanqué s book , John Plender, Financial Times. It is rare to come across an incumbent top-level investment professional today who questions the worth of virtually every tool of his or her trade , Amin Rajan, CEO Create Research, in Financial Times. Pascal Blanqué contends that liquidity is a dimension clearly missing from the thinking of investors , Liam Kennedy, Investment & Pensions Europe. There are few people with better insight into investment management than Pascal Blanqué. After the warm welcome with which the book Essays in Positive Investment Management was received, the author is publishing a second, expanded edition. It contains, in particular, discussion of the notion of liquidity as the missing element of the modern portfolio theory; together with the changes in macro-financial regime as a key determining factor for investment strategies. In this regard, the combination of savings glut, QE glut and secular stagnation, which shapes our environment, is a lasting feature which brings fresh challenges. In this important and timely book, Blanqué made a powerful claim for positive investment in order to avoid fanciful illusions. He assigned it the task of understanding what is happening in today s world. Blanqué argued that the investment world contains many elements of a fairy tale and showed that a mere confrontation with reality leaves its mark on the impressive procession of theoretical, sacred cows, of established beliefs and truths. As does the confrontation with crises. These essays accordingly included an objective assessment of the discipline s sacred cows and explored a number of ways to renew the traditional approaches. There has never been such a need for sound management to bridge the gap between abundant savings and unsatisfied investment requirements. We need new ways to rechannel investment management for the good. We need more investment science not less.
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À propos de l'auteur
Pascal Blanqué, born in 1964, is deputy CEO, Chief Investment Officer and Head of Institutional Business for a major international Asset Management company. He formerly served as Chief Economist and Head of Research for a large international banking group. His work focuses on monetary issues, the functioning of financial markets and the philosophical foundations of economics. His books include Money, Memory and Asset Prices, The Social Economy of Freedom and Philosophy in Economics. He was awarded European CIO of the Year 2013 by Funds Magazine. He received the Institutional Investor s European Manager Lifetime Achievement Award (2016).
Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.
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Essays in Positive Investment Management
Edité par
Economica, Editions, 2017
ISBN 10 : 2717868461
ISBN 13 : 9782717868463
Neuf
Couverture rigide
Vendeur : Bill & Ben Books, Faringdon, Royaume-Uni
Évaluation du vendeur 5 sur 5 étoiles
Hardback. Etat : New. After the warm reception of Essays in Positive Investment Management, the author has published a second, expanded edition. It contains, in particular, discussion of the notion of liquidity as the missing element in modern portfolio theory, together with changes in macro-financial regime as key factors for investment strategies. Savings glut, QE glut, and secular stagnation are lasting features that bring fresh challenges.Few people have better insight into investment management than Pascal Blanque. In this important and timely book, Blanque takes a powerful claim for positive investment to avoid fanciful illusions. Blanque argues that the investment world contains many fairytale elements, and shows that confrontation with reality leaves its mark on the theoretical sacred cows of established beliefs and truths.These essays include an objective assessment of the discipline's sacred cows; the effective dynamic of the financial markets concerning value, liquidity, and momentum; anticipation of the return on financial assets; and the reality of long-term investment. Blanqu?emonstrates the importance of better understanding the psychological referential of the subject and of those individuals who interact within this universe of anticipation and imagination. Blanque describes the role of time, duration, memory, and forgetfulness.These essays explore ways to renew traditional approaches (allocation, indices, inefficiencies that can be exploited, and other methods). There has never been such a need for sound management to bridge the gap between abundant savings and unsatisfied investment requirements. We need new ways to channel investment management for the good. We need more investment science, not less. N° de réf. du vendeur 0072248
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