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Capital Ideas Evolving | 
 enlarge | Author: Peter L. Bernstein
Publisher: Wiley
Category: Book
List Price: $29.95
Buy New: $16.72
You Save: $13.23 (44%)
New (39) Used (12) Collectible (1) from $16.53
Rating:  9 reviews
Sales Rank: 12798
Media: Hardcover
Edition: 2nd
Pages: 304
Number Of Items: 1
Shipping Weight (lbs): 1
Dimensions (in): 9.1 x 6.1 x 1.1
ISBN: 0471731730
Dewey Decimal Number: 658.15
EAN: 9780471731733
Publication Date: May 4, 2007
Availability: Usually ships in 1-2 business days
Condition: BRAND NEW
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Product Description
"A lot has happened in the financial markets since 1992, when Peter Bernstein wrote his seminal Capital Ideas. Happily, Peter has taken up his facile pen again to describe these changes, a virtual revolution in the practice of investing that relies heavily on complex mathematics, derivatives, hedging, and hyperactive trading. This fine and eminently readable book is unlikely to be surpassed as the definitive chronicle of a truly historic era."
- John C. Bogle, founder of The Vanguard Group and author, The Little Book of Common Sense Investing
"Just as Dante could not have understood or survived the perils of the Inferno without Virgil to guide him, investors today need Peter Bernstein to help find their way across dark and shifting ground. No one alive understands Wall Street's intellectual history better, and that makes Bernstein our best and wisest guide to the future. He is the only person who could have written this book; thank goodness he did."
- Jason Zweig, Investing Columnist, Money magazine
"Another must-read from Peter Bernstein! This well-written and thought-provoking book provides valuable insights on how key finance theories have evolved from their ivory tower formulation to profitable application by portfolio managers. This book will certainly be read with keen interest by, and undoubtedly influence, a wide range of participants in international finance."
- Dr. Mohamed A. El-Erian, President and CEO of Harvard Management Company, Deputy Treasurer of Harvard University, and member of the faculty of the Harvard Business School
"Reading Capital Ideas Evolving is an experience not to be missed. Peter Bernstein's knowledge of the principal characters-the giants in the development of investment theory and practice-brings this subject to life."
- Linda B. Strumpf, Vice President and Chief Investment Officer, The Ford Foundation
"With great clarity, Peter Bernstein introduces us to the insights of investment giants, and explains how they transformed financial theory into portfolio practice. This is not just a tale of money and models; it is a fascinating and contemporary story about people and the power of their ideas."
- Elroy Dimson, BGI Professor of Investment Management, London Business School
"Capital Ideas Evolving provides us with a unique appreciation for the pervasive impact that the theory of modern finance has had on the development of our capital markets. Peter Bernstein once again has produced a masterpiece that is must reading for practitioners, educators and students of finance."
- Andre F. Perold, Professor of Finance, Harvard Business School
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| Customer Reviews: Read 4 more reviews...
 Accessible explanation of the foundations of finance August 2, 2007
Rolf Dobelli (Luzern Switzerland)
10 out of 15 found this review helpful
In the early 1950s, graduate student Harry Markowitz presented his Ph.D. dissertation to the University of Chicago economics department. The response was less than encouraging. "This isn't a dissertation in economics," Milton Friedman told Markowitz. "It's not math, it's not economics, it's not even business administration." Whatever it was, Markowitz's heterodox theory of portfolio selection changed finance forever and earned a Nobel Prize. Financial historian and investment manager Peter L. Bernstein humanizes his saga of great shifts in financial theory by organizing it around eminent thinkers (Markowitz, Myron Scholes, Franco Modigliani, Robert Merton, Bill Sharpe and others, if you ever want to look up a finance guru). Deepening his analysis with insights from "behavioral finance," Bernstein describes how these innovators generated and extended the now-orthodox "capital ideas" of portfolio selection, capital structure, the Capital Asset Pricing Model, the efficient market hypothesis and the Black-Scholes-Merton theory of option pricing. Bernstein's erudition is dazzling, his explanations pellucid and his narrative filled with scintillating characters. getAbstract doesn't need to hedge: you'll find this overview of current finance theory and practice brilliant, even if you don't know your alpha from alfalfa.
Demystifies investing and the stock market December 5, 2006
B. Young
10 out of 26 found this review helpful
This is a very well written book which looks at the stock market from a statistical and empirical perspective. It presents overwhelming scientific evidence that it is very unlikely that stock picking adds any value. He presents very interesting evidence that mutual fund managers and portfolio managers of actively managed portfolios on average do not earn their fees.
Despite this clear evidence the asset management industry continues to grow and flourish. This book taught me to manage my own money and to seek to reduce fees to the bare minimum. If more people understood this basic message they would get better returns on their hard earned money.
The Theory and Practice of Finance in the nutshell January 1, 2007
Ekarat Tantawichet (Los Angeles, CA)
15 out of 30 found this review helpful
This is a required book for any student of finance. It captures all the essence of finance theory in the most intuitive fashion. The very special treat of this book is the ending chapters: how people on Wall Street apply the theory to the real world--and how they make money.
I would assign this book for any finance major student.
If you read this book and would like to see exactly and in more technical details what Bernstein is talking in this book, try these two books:
(i) The Theory of Business Finance: A Book of Readings (Hardcover)
by Stephen H. Archer (Author) and
(ii) Modern Developments in Investment Management: A Book of Readings (Paperback)
by James H. Lorie (Compiler)
They are compilations of the original papers published by those founders of modern finance.
Buy these used, out of print, and old books (yet they are a pilar of what Wall Street has been built on). They are cheap in price but invaluatble in values.
A fantastic book for undergraduate students in the field of Finance September 2, 2006
Sebastien Savoie (Sherbrooke, QC, Canada)
5 out of 23 found this review helpful
I strongly recommend this book for students who have heard of the various theories in the field of finance. Bernstein describes the logical explanations behind the most popular financial innovations of the 20th century. If you are a finance teacher, you might consider giving this book as a reference for your students.
Unique and sunsurpassed. July 28, 2007
Professor Jack
1 out of 5 found this review helpful
I have recommended this and his previous book for finance graduate students at the University of Maryland.
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