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Plight of the Fortune Tellers: Why We Need to Manage Financial Risk Differently

by Riccardo Rebonato
RM175.00 MYR
Plight of the Fortune Tellers: Why We Need to Manage Financial Risk Differently
Plight of the Fortune Tellers: Why We Need to Manage Financial Risk Differently

Challenges the quantitative dogma in financial risk.

If you've ever felt that the world of finance is over-reliant on complex math and that the human element is being lost, Riccardo Rebonato's "Plight of the Fortune Tellers" could be a breath of fresh air. It's not just a critique but offers a pragmatic solution, bridging the gap between academic understanding and practical market wisdom. As someone interested in the intersection of psychology, decision-making, and finances, you'll find this book both an eye-opener and a call to action.

Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.

Plight of the Fortune Tellers: Why We Need to Manage Financial Risk Differently

by Riccardo Rebonato
RM175.00 MYR
Condition guide

Book Condition Guide

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This book may contain very minor cosmetic defects, but it is in pristine condition. There should be no yellowing, no foxing, no water damage, and no annotations of any kind on the cover and the pages. For paperbacks, there should not be any crease marks on the spine. This book is good as new — lucky you!

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*Books may be missing bundle media (e.g. CD, e-book code), if included.

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We do our best to ensure the quality of our books, but there is no escaping the wear and tear that comes with time. Slight foxing and some annotations may be present on the pages and the cover. There should be no water damage of any kind. For paperbacks, there may be several crease marks on the spine.

*Books may be missing bundle media (e.g. CD, e-book code), if included.

Books in Well Read Condition

This is a well-read book, which means that the previous owner probably really enjoyed it! The cover and pages may include moderate foxing and annotations, but the text is not obscured and still readable. Moderate cosmetic defects and minor water damage may be present on the edges of the book. For paperbacks, there may be multiple crease marks on the spine.

*Books may be missing bundle media (e.g. CD, e-book code), if included.

 

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ISBN: 9780691133614
Authors: Riccardo Rebonato
Publisher: Princeton University Press
Date of Publication: 2007-10-07
Format: Hardcover
Related Collections: Economics
Related Topics: Finance
Goodreads rating: 3.78
(rated by 60 readers)

Description

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?
 

Challenges the quantitative dogma in financial risk.

If you've ever felt that the world of finance is over-reliant on complex math and that the human element is being lost, Riccardo Rebonato's "Plight of the Fortune Tellers" could be a breath of fresh air. It's not just a critique but offers a pragmatic solution, bridging the gap between academic understanding and practical market wisdom. As someone interested in the intersection of psychology, decision-making, and finances, you'll find this book both an eye-opener and a call to action.

Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.