Treynor on Institutional Investing

出版者:John Wiley & Sons

作者:Jack L. Treynor

页数:602

出版时间:2007-10-1

价格:GBP 85.00

装帧:Hardcover

isbn号码:9780470118757

具体描述

Praise for TREYNOR ON INSTITUTIONAL INVESTING "Jack Treynor has a mind of his own. I mean that as the highest compliment. Jack Treynor sees what no one else sees, thinks what no one else thinks, explains what no one else explains. You will learn more in fifteen minutes with Jack Treynor than in a full hour with most pundits. You will work hard but you will see things, think things, and understand things as never before. This book is a most valuable treasure, gleaming with Jack Treynor's brilliance." -Peter L. Bernstein, author, Capital Ideas Evolving "Vintage Treynor. This is a must-own reference for anyone involved in institutional asset management. It assembles - in one place - many of the important insights of one of the most provocative and creative players in the finance world over the past half-century." -Robert D. Arnott, Chairman, Research Affiliates, and Former Editor, Financial Analysts Journal "As a practicing investment manager, Treynor always preferred brilliance to soundness. Identifying the flaws in conventional thinking, he shows both the theorist and the practitioner where to invest time in their search for excess return." -Perry Mehrling, Professor of Economics, Barnard College, Columbia University, author, Fischer Black and the Revolutionary Idea of Finance "Jack Treynor's new book brings together a lifetime of exploring the important questions surrounding the sophisticated investor's task. Readers of Treynor on Institutional Investing will be richly rewarded by the insights the author has developed about both the practical and the conceptual keys to successful investing." -Samuel L. Hayes, III, Jacob Schiff Professor of Investment Banking Emeritus, Harvard Business School

From the Inside Flap

Over the course of his successful career, Jack Treynor has made many important contributions to the world of investment management. Now, the innovative ideas and controversial concepts of this prolific investment professional can finally be found in one volume. Comprised of more than ninety provocative articles--many of which were originally published in well-respected industry resources such as the CFA Institute Financial Analysts Journal and the Harvard Business Review--Treynor on Institutional Investing clearly captures the many ways in which this man has influenced the professional investment community over a period of decades. From his seminal presentation of the Capital Asset Pricing Model in 1962 and papers introducing modern performance measurement to his revolutionary ideas on inflation, Treynor on Institutional Investing distills the hard-won investment insights of one of the most independent minds ever to tackle the investment problem. Along the way, this comprehensive anthology also introduces you to some of Treynor's more controversial proposals, such as issues regarding stock valuation and trading strategy, and presents challenging case studies that address critical events in today's investment environment. Treynor's work goes far beyond his well-known contributions to capital asset pricing and the performance measurement extension. Some of the other thought-provoking topics discussed within these pages include: * His challenge to conventional thinking about inflation in his new "Theory of Inflation" ?and "Will the Phillips Curve Cause World War III"? * His groundbreaking work on market micro structure * Implications of the Bean Jar Experiment for market efficiency * The trouble with earnings as an appropriate focus for investment analysis * The unintended effects of ERISA The articles found inside draw on Treynor's extensive experience as a management consultant, fund director, and money manager. So whether you're looking to gain a better understanding of the investment management business or prepare yourself for responsibilities on the boards of pension, endowment, or mutual funds, this book has what you need to help you succeed. One measure of how influential the ideas in Treynor on Institutional? Investing?have been is that they ended up shaping an ever-evolving investment profession.

用户评价

这本书为我打开了一个全新的视角，让我得以窥探机构投资世界的精髓。作者的写作风格十分独特，他善于将宏大的理论概念，拆解成易于理解的组成部分，然后用生动的语言将它们串联起来。我在阅读的过程中，常常会产生一种“豁然开朗”的感觉，仿佛一直笼罩在心中的迷雾被一扫而空。他对于投资组合构建、资产配置以及风险控制的论述，都给我留下了深刻的印象。尤其让我受益的是，他对“投资的本质”有着独到的见解，他并没有将投资仅仅视为追求高回报的工具，而是将其上升到了“价值创造”和“长期增长”的高度。这种深刻的哲学思考，让这本书不仅仅是一本技术性的投资指南，更是一本能够启迪思想、升华认知的心灵之书。我强烈推荐这本书给所有对机构投资感兴趣，或者希望提升自己投资理念的读者。

我曾一度以为，机构投资的世界离我太过遥远，充斥着我无法理解的专业术语和复杂的模型。然而，这本书的出现，彻底改变了我的看法。作者用一种非常平易近人的方式，将那些看似高深莫测的投资理念娓娓道来。他仿佛是一位经验丰富的向导，带领着我在投资的森林里穿梭，指引我避开那些隐藏的陷阱，找到通往成功的捷径。我尤其赞赏他对那些“细节”的关注，那些在别人看来可能微不足道的因素，在作者的笔下却变成了影响投资成败的关键。这种对细节的执着，恰恰体现了一位真正投资大师的智慧。在阅读的过程中，我常常会停下来，反复咀嚼作者的某句话，思考它背后所蕴含的深意。这种主动思考的过程，让我对机构投资的理解不再是停留在表面，而是触及到了其核心。

读这本书的过程，更像是在进行一场思想的对话。作者似乎预料到了读者可能会有的疑问，然后在接下来的章节中，以一种非常自然的方式给予解答。他提出的观点，虽然有时候会颠覆我之前的一些固有认知，但细细品味，却又显得那么合乎情理。我特别喜欢作者在讨论风险管理和长期价值创造时所展现出的那种审慎和长远眼光。他并没有鼓吹短期的暴利，而是强调建立稳健的投资流程和培养坚定的投资纪律的重要性。对于机构投资者而言，这些特质往往是他们能够在风云变幻的市场中保持竞争力的关键。我感觉通过阅读这本书，我正在学习如何更理性地看待市场波动，如何更有效地评估投资机会，以及如何将个人投资理念与更广阔的机构投资视角相结合。这是一次非常宝贵的学习经历，让我受益匪浅。

这本书的语言风格异常地清晰且富有逻辑性，读起来就像是在听一位资深的教授在课堂上娓娓道来，每一个论点都经过了深思熟虑，并且有充分的论据支撑。我尤其欣赏作者在解释一些复杂的金融概念时，并没有使用过于专业化的术语，而是巧妙地用类比和实际案例来辅助说明，这让我这样一个非专业人士也能轻松理解。更让我印象深刻的是，作者并没有仅仅停留在理论的层面，而是将大量的篇幅放在了对真实世界中机构投资案例的分析上，这些案例的选择非常有代表性，涵盖了不同的市场环境和投资策略，从中我能看到不同机构在面对挑战和机遇时所采取的行动，以及这些行动所带来的结果。这种“理论与实践相结合”的方式，极大地增强了我学习的积极性，也让我能够将书中的知识更直观地应用到对现实市场的理解中。我感觉自己正在逐步构建一个更加系统和完整的机构投资知识体系。

这本书的封面设计就吸引了我，那种深邃的蓝色搭配着精致的金色字体，仿佛在诉说着一种沉淀已久的智慧。拿到手的时候，我感觉到它有一定的厚度，纸张的质感也相当不错，散发着淡淡的油墨香。我一直对机构投资领域充满好奇，总觉得那里隐藏着不少值得探索的秘密，而“Treynor”这个名字在我脑海里早已与投资策略的严谨和深度划上了等号。翻开第一页，我被作者的开场白深深吸引，他没有上来就堆砌那些晦涩难懂的理论，而是从一个引人入胜的故事切入，像是邀请读者一同踏上一段知识的旅程。字里行间流露出的是一种对市场本质的洞察，以及对那些真正驱动机构投资成功的因素的深刻理解。我迫不及待地想深入其中，去揭开那些笼罩在机构投资光环下的面纱，去理解那些在幕后默默运作的精妙策略。这本书给我一种预感，它将不仅仅是一本关于投资的书，更像是一位经验丰富的导师，将引领我穿越纷繁复杂的金融世界，去领悟那些经久不衰的投资哲学。

可惜没有中文版

可惜没有中文版

可惜没有中文版

可惜没有中文版

可惜没有中文版