Today's top financial-risk professionals have come to rely on ever-more sophisticated mathematics in their attempts to come to grips with financial risk. But this excessive reliance on quantitative precision is misleading--and it puts us all at risk. This is the case that Riccardo Rebonato makes in Plight of the Fortune Tellers --and coming from someone who is both an experienced market professional and an academic, this heresy is worth listening to. Rebonato forcefully argues that we must restore genuine decision making ...
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Today's top financial-risk professionals have come to rely on ever-more sophisticated mathematics in their attempts to come to grips with financial risk. But this excessive reliance on quantitative precision is misleading--and it puts us all at risk. This is the case that Riccardo Rebonato makes in Plight of the Fortune Tellers --and coming from someone who is both an experienced market professional and an academic, this heresy is worth listening to. Rebonato forcefully argues that we must restore genuine decision making to our financial planning, and he shows us how to do it using probability, experimental psychology, and decision theory. This is the only way to effectively manage financial risk in a manner congruent with how human beings actually react to chance. Rebonato challenges us to rethink the standard wisdom about probability in financial-risk management. Risk managers have become obsessed with measuring risk and believe that these quantitative results by themselves can guide sound financial choices--but they can't. In this book, Rebonato offers a radical yet surprisingly commonsense solution, one that seeks to remind us that managing risk comes down to real people making decisions under uncertainty. Plight of the Fortune Tellers is not only a book for the decision makers of Wall Street, it's a must-read for anyone concerned about how today's financial markets are run. The stakes have never been higher--can you risk it?
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Seller's Description:
This is an ex-library book and may have the usual library/used-book markings inside. This book has hardback covers. In good all round condition. Dust jacket in good condition. Please note the Image in this listing is a stock photo and may not match the covers of the actual item, 650grams, ISBN: 9780691133614.
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Very good. A copy that has been read, but remains in excellent condition. Pages are intact and are not marred by notes or highlighting, but may contain a neat previous owner name. The spine remains undamaged. An ex-library book and may have standard library stamps and/or stickers. At ThriftBooks, our motto is: Read More, Spend Less.
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Seller's Description:
This is an ex-library book and may have the usual library/used-book markings inside. This book has hardback covers. In good all round condition. No dust jacket. Please note the Image in this listing is a stock photo and may not match the covers of the actual item, 650grams, ISBN: 9780691133614.
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Very good in very good dust jacket. Ex-library. Sewn binding. Cloth over boards. With dust jacket. 272 p. Contains: Illustrations. Audience: General/trade. LCCN 2007928672 Type of material Book Personal name Rebonato, Riccardo. Main title Plight of the fortune tellers: why we need to manage financial risk differently / Riccardo Rebonato. Published/Created Princeton, N.J.; Oxford [England]: Princeton University Press, c2007. Description xxvi, 272 p. : ill.; 25 cm. ISBN 9780691133614 (alk. paper) 0691133611 (alk. paper) LC classification HG173. R37 2007 Contents Why this book matters--Thinking about risk--Thinking about probabilities--Making choices--What is risk management for? --VaR & Co: how it all started--Looking beneath the surface: hidden problems--Which type of probability matters in risk management? --The promise of economic capital--What can we do instead? LC Subjects Financial risk management. Notes Includes bibliographical references and index. Dewey class no. 658.155 Other system no. (OCoLC)ocn154694577
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Seller's Description:
Very Good. Very Good condition. Like New dust jacket. A copy that may have a few cosmetic defects. May also contain light spine creasing or a few markings such as an owner's name, short gifter's inscription or light stamp. Bundled media such as CDs, DVDs, floppy disks or access codes may not be included.
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