Synopses & Reviews
Describes the lives, theories, and legacies of six great minds in finance who changed the way we look at financial markets and equilibrium. Bachelier, Samuelson, Fama, Ross, Tobin, and Shiller; proponents and critics of the market efficiency theories who redefined modern finance, creating the foundation on which all financial analysis rests.
About the Author
COLIN READ is Professor of Economics and Finance, former dean of the School of Business and Economics at SUNY College at Plattsburgh, USA, and a columnist for the
Plattsburgh New York Press Republican newspaper. He has a PhD in Economics, JD in Law, MBA, Masters of Taxation, and has taught Environmental and Energy Economics and Finance for 25 years. Colin's recent books include
BP and the Macondo Spill: The Complete Story,
The Fear Factor,
Global Financial Meltdown: How We Can Avoid the Next Economic Crisis,
The Rise and Fall of an Economic Empire: With Lessons for Aspiring Nations, and a book on international taxation. He has written dozens of papers on market failure, volatility, and the finance of housing markets, writes a weekly newspaper column, and appears monthly on a local PBS television show to discuss the regional and national economy. He has worked as a research associate at the Harvard Joint Center for Housing Studies and served the Ministry of Finance in Indonesia under contract from the Harvard Institute for International Development.
Table of Contents
Preface to the Great Minds in Finance Series
Preamble
Introduction
PART I: LOUIS BACHELIER - THE FIRST PHYSICIST FINANCIAL THEORIST
Louis Bachelier - The Early Years
The Times
The Theory
Discussion and Applications - Einstein and Bachelier
Life and Legacy
PART II: PAUL SAMUELSON'S RANDOM WALK
Paul Samuelson - The Early Years
The Times
The Theory
Discussion and Applications
The Nobel Prize, Life and Legacy
PART III: EUGENE FAMA'S EFFICIENT MARKET HYPOTHESIS
Eugene Fama - The Early Years
The Times
The Theory
Discussion and Applications
Career and Legacy
PART IV: STEPHEN ROSS AND ARBITRAGE PRICING THEORY
Stephen Alan Ross - the Early Years
The Times
The Theory
Discussion and Applications
Career and Legacy
PART V: JAMES TOBIN AND A NEW POLICY
James Tobin - The Early Years
The Times
The Theory
Discussion and Applications
The Nobel Prize, Life, and Legacy
PART VI: ROBERT SCHILLER AND IRRATIONAL EXUBERANCE
Robert Shiller - The Early Years
The Times
The Theory
Discussion and Applications
Career and Legacy
PART VII: WHAT WE HAVE LEARNED
Combined Contributions
Conclusions
Glossary
Index
Endnotes