Description

Features

• NEW - New Finance versus Behavioral Finance distinction.

  • Sets forth and synthesizes a paradigm shift in financial economics.

• NEW - Introduction to complexity and chaos of capital asset pricing.

  • Provides updated evidence on capital market efficiency.

• Revolutionary concepts.

  • Offers cutting edge theories and ideas regarding market inefficiencies.

• Controversial ideas.

  • Support the growing acceptance of the notion that capital markets are inefficient.

• Easy to understand narrative.

  • A comprehensive compilation of evidence contradicting market efficiency.

• Extensive and clear.

  • Contains evidence of theoretical underpinnings.

New To This Edition

• New Finance versus Behavioral Finance distinction.

  • Sets forth and synthesizes a paradigm shift in financial economics.

• Introduction to complexity and chaos of capital asset pricing.

  • Provides updated evidence on capital market efficiency.

Table of Contents



 1. Search for the Grail.


 2. The Old Finance.


 3. How Long is the Short Run?


 4. The Ancient Finance.


 5. The Past and the Future.


 6. The Race Between Value and Growth.


 7. Surprise or Risk Premium?


 8. “Bearing” Risk in the Stock Market.


 9. The Holy Grail.


10. Rational Finance, Behavioral Finance, and the New Finance.


11. Dawn of the New Finance.


12. Final Words.


Glossary.

Courses

Undergraduate Investments  [SUPPLEMENTAL/VALUE PACK ITEMS]   (Finance)
Graduate Investments  [SUPPLEMENTAL/VALUE PACK ITEMS]   (Finance)

Next Edition(s)

• New Finance, The, 4/E
  Haugen
  ©2010  |  Prentice Hall  |  Paper; 160 pp  |  Instock
  ISBN-10: 013603604X  |  ISBN-13: 9780136036043
  Suggested retail price: $66.67  Buy from myPearsonStoreNet price: $50.00  (What's this?)Brief Description  | 

  

  A supplement for junior/senior and graduate level courses in Investments, Behavioral Finance Theory, and related courses.

   

  Teach the concepts that expose the inefficiency of capital markets.

   

  The New Finance is a comprehensive and organized collection of evidence and arguments that develop a persuasive case for an inefficient, complex and, at times, nearly chaotic stock market. This brief text also shows students how the complexity and uniqueness of investor interactions have important market pricing consequences.

   

  The fourth edition includes two new chapters on the real determinants of expected stock returns and the nature of stock volatility that the Financial Crisis of 2008 has exposed.

  More Info
  

Author Bios

In this Third Edition, Robert Haugen focuses on the evidence, causes, and history of overreactive pricing in the stock market. He argues that, unlike the other social sciences, economic models aggregate from the assumed behaviors of individuals to predictions about market pricing. These models fail to capture the complexity of human interaction. In addition, Haugen argues that each interaction is entirely unique. The complexity and the uniqueness of interactions make it impossible to generalize from the preferences of individuals to meaningful conclusions about the structure and behavior of market prices. The logical conclusion: Both rational and behavioral economics should be reconsidered.

Bob Haugen is Professor Emeritus at the University of California, Irvine. He serves as Managing Partner to Haugen Custom Financial Systems, which licenses portfolio management software to pension funds, endowments, and institutional and high-net-worth money managers.

For further study on the author's unique approach to stock market analysis, read the entire Bob Hougen series, The Inefficient Stock Market, What Pays Off and Why, and Beast on Wall Street.

Visit www.prenhall.com/haugen for additional resources. Or go to www.newfinance.com.

Backcover Copy

In this Third Edition, Robert Haugen focuses on the evidence, causes, and history of overreactive pricing in the stock market. He argues that, unlike the other social sciences, economic models aggregate from the assumed behaviors of individuals to predictions about market pricing. These models fail to capture the complexity of human interaction. In addition, Haugen argues that each interaction is entirely unique. The complexity and the uniqueness of interactions make it impossible to generalize from the preferences of individuals to meaningful conclusions about the structure and behavior of market prices. The logical conclusion: Both rational and behavioral economics should be reconsidered.

Bob Haugen is Professor Emeritus at the University of California, Irvine. He serves as Managing Partner to Haugen Custom Financial Systems, which licenses portfolio management software to pension funds, endowments, and institutional and high-net-worth money managers.

For further study on the author's unique approach to stock market analysis, read the entire Bob Hougen series, The Inefficient Stock Market, What Pays Off and Why, and Beast on Wall Street.

Visit www.prenhall.com/haugen for additional resources. Or go to www.newfinance.com.

FinCoach 2.0: CD-ROM Edition
Handa
©2002  |  Prentice Hall  |  CD-ROM Only  |  Instock
ISBN-10: 0130606189  |  ISBN-13: 9780130606181
Suggested retail price:  $60.00    Buy from myPearsonStoreNet price: $45.00  (What's this?)More Info

Research Navigator: Resources for College Research
Pearson
©2006  |  Prentice Hall  |  Paper  |  Instock
ISBN-10: 0321186079  |  ISBN-13: 9780321186072
Suggested retail price:  $40.60    Buy from myPearsonStoreNet price: $40.60  (What's this?)More Info

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