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Reducing the Risk of Black Swans: Using the Science of Investing to Capture Returns with Less Volatility, 2018 Edition PDF Download

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Reducing the Risk of Black Swans: Using the Science of Investing to Capture Returns with Less Volatility, 2018 Edition

Reducing the Risk of Black Swans: Using the Science of Investing to Capture Returns with Less Volatility, 2018 Edition PDF Author: Larry Swedroe
Publisher:
ISBN: 9780692060742
Category : Business & Economics
Languages : en
Pages : 206

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Book Description
The 2018 updated edition from authors Larry Swedroe and Kevin Grogan. From Larry Swedroe, author of the bestselling series of "The Only Guide" investment books, and Kevin Grogan, co-author of "The Only Guide You'll Ever Need for the Right Financial Plan," comes the 2018 edition of "Reducing the Risk of Black Swans." Designed for professional financial advisors and educated investors alike, Swedroe and Grogan wrote this book especially for those looking to expand their technical knowledge of the evidence-based investing world. "Swans" provides an in-depth look at portfolio construction and offers a roadmap for those interested in refining their portfolio. From CAPM to the three-factor model, Swedroe and Grogan present some of the academic underpinnings that have led to what we now commonly recognize to be modern financial theory. Taking it one step further, they provide specifics on what it takes to build a more efficient portfolio, in particular using new alternative investments. Based on an overwhelming amount of hard data and research, Swedroe and Grogan make their case for reducing the risk of black swans.

Reducing the Risk of Black Swans: Using the Science of Investing to Capture Returns with Less Volatility, 2018 Edition

Reducing the Risk of Black Swans: Using the Science of Investing to Capture Returns with Less Volatility, 2018 Edition PDF Author: Larry Swedroe
Publisher:
ISBN: 9780692060742
Category : Business & Economics
Languages : en
Pages : 206

View

Book Description
The 2018 updated edition from authors Larry Swedroe and Kevin Grogan. From Larry Swedroe, author of the bestselling series of "The Only Guide" investment books, and Kevin Grogan, co-author of "The Only Guide You'll Ever Need for the Right Financial Plan," comes the 2018 edition of "Reducing the Risk of Black Swans." Designed for professional financial advisors and educated investors alike, Swedroe and Grogan wrote this book especially for those looking to expand their technical knowledge of the evidence-based investing world. "Swans" provides an in-depth look at portfolio construction and offers a roadmap for those interested in refining their portfolio. From CAPM to the three-factor model, Swedroe and Grogan present some of the academic underpinnings that have led to what we now commonly recognize to be modern financial theory. Taking it one step further, they provide specifics on what it takes to build a more efficient portfolio, in particular using new alternative investments. Based on an overwhelming amount of hard data and research, Swedroe and Grogan make their case for reducing the risk of black swans.

Summary of Larry Swedroe & Kevin Grogan's Reducing the Risk of Black Swans

Summary of Larry Swedroe & Kevin Grogan's Reducing the Risk of Black Swans PDF Author: Everest Media
Publisher: Everest Media LLC
ISBN: 1669348172
Category : Business & Economics
Languages : en
Pages : 18

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Book Description
Please note: This is a companion version & not the original book. Sample Book Insights: #1 Investors who extrapolate past stock market returns into the future fail to take into account the fact that current stock market valuations have a significant impact on future returns. The Gordon Constant Growth Dividend Discount Model, for example, predicts future real stock market returns of about 4 to 5 percent. #2 The second mistake investors make is to treat the expected return of their portfolio as deterministic rather than the mean of a potentially wide dispersion of possible returns. #3 Portfolios with a high standard deviation aren’t very appealing to most investors, since they are generally risk averse. They will take on more risk to get more return, even if that means sacrificing some of the great returns in the right tail of the distribution. #4 The Capital Asset Pricing Model, or CAPM, is a mathematical equation that determines a stock’s expected return. It was created in the 1950s and is still used today. However, it has been proven time and time again to be inaccurate, and does not take into account the impact of risk.

Risk, Surprises and Black Swans

Risk, Surprises and Black Swans PDF Author: Terje Aven
Publisher: Routledge
ISBN: 1317626311
Category : Business & Economics
Languages : en
Pages : 276

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Book Description
Risk, Surprises and Black Swans provides an in depth analysis of the risk concept with a focus on the critical link to knowledge; and the lack of knowledge, that risk and probability judgements are based on. Based on technical scientific research, this book presents a new perspective to help you understand how to assess and manage surprising, extreme events, known as ‘Black Swans’. This approach looks beyond the traditional probability-based principles to offer a broader insight into the important aspects of uncertain events and in doing so explores the ways to manage them. This book recognises the fundamental issues surrounding risk assessment and risk management to help you to understand and prepare for black swan events. Complete with international examples to illustrate ideas and concepts Integrates risk management and resilience based thinking Suitable for a variety of applications including engineering, finance and security.

Safety and Reliability: Methodology and Applications

Safety and Reliability: Methodology and Applications PDF Author: Tomasz Nowakowski
Publisher: CRC Press
ISBN: 1315736977
Category : Technology & Engineering
Languages : en
Pages : 408

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Book Description
Within the last fifty years the performance requirements for technical objects and systems were supplemented with: customer expectations (quality), abilities to prevent the loss of the object properties in operation time (reliability and maintainability), protection against the effects of undesirable events (safety and security) and the ability to

Risk in Extreme Environments

Risk in Extreme Environments PDF Author: Vicki M. Bier
Publisher: Routledge
ISBN: 131702995X
Category : Business & Economics
Languages : en
Pages : 192

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Book Description
Risk in Extreme Environments presents a wide-ranging discussion of approaches for assessing and managing extreme risks. Extreme events are not only severe, but also outside the normal range of experience of the system in question, and can include environmental catastrophe; engineering failure; financial or business meltdown; and nuclear or other extreme terrorism. The book focuses on synthesizing research results in a way that provides insights useful to decision makers, and enables them to ask probing questions about the risks faced by their organizations, identify creative solutions, and minimize the neglect of extreme risks that can come from a focus on mundane or ordinary management challenges. The book details case studies on nuclear power, infectious diseases, and global catastrophic risks, in addition to sections on risk assessment, risk management, and risk perceptions. Since effective management benefits from an interdisciplinary perspective, the chapter authors include experts in economics, engineering, geography, law, political science, psychology, sociology, and science in addition to risk analysis. Risk in Extreme Environments is an accessible and valuable resource for risk managers and other decision makers responsible for large complex business and government decisions, while also providing enough detail and references to be informative for risk analysts interested in learning more about technical aspects of the various methods.

The Black Swan Problem

The Black Swan Problem PDF Author: Hakan Jankensgard
Publisher: John Wiley & Sons
ISBN: 1119868165
Category : Business & Economics
Languages : en
Pages : 246

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Book Description
An incisive framework for companies seeking to increase their resilience In The Black Swan Problem: Risk Management Strategies for a World of Wild Uncertainty, renowned risk and finance expert Håkan Jankensgård delivers an extraordinary and startling discussion of how firms should navigate a world of uncertainty and unexpected events. It examines three fundamental, high-level strategies for creating resilience in the face of “black swan” risks, highly unlikely but devastating events: insurance, buffering, and flexibility: The author also presents: Detailed case studies, stories, and examples of major firms that failed to anticipate Black Swan Problems and, as a result, were either wiped out or experienced a major strategy disruption Extending the usual academic focus on individual biases to analyze Swans from an organizational perspective and prime organizations to proactive rather than reactive action Practical applications and tactics to mitigate Black Swan risks and protect corporate strategies against catastrophic losses and the collateral damage that they cause Strategies and tools for turning Black Swan events into opportunities, reflecting the fact that resilience can be used for strategic advantage An expert blueprint for companies seeking to anticipate, mitigate, and process tail risks, The Black Swan Problem is a must-read for students and practitioners of risk management, executives, founders, managers, and other business leaders.

Enterprise Risk Management

Enterprise Risk Management PDF Author: Terje Aven
Publisher: Routledge
ISBN: 0429756755
Category : Business & Economics
Languages : en
Pages : 184

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Book Description
Enterprise Risk Management: Advances on its Foundation and Practice relates the fundamental enterprise risk management (ERM) concepts and current generic risk assessment and management principles that have been influential in redefining the risk field over the last decade. It defines ERM with a particular focus on understanding the nexus between risk, uncertainty, knowledge and performance. The book argues that there is critical need for ERM concepts, principles and methods to adapt to the latest and most influential risk management developments, as there are several issues with outdated ERM theories and practices; problems include the inability to effectively and systematically balance both opportunity and downside performance, or relying too much on narrow probability-based perspectives for risk assessment and decision-making. It expands traditional loss-based risk principles into new and innovative performance-risk frameworks, and presents fundamental risk principles that have recently been developed by the Society for Risk Analysis (SRA). All relevant statistical and risk concepts are clearly explained and interpreted using minimal mathematical notation. The focus of the book is centered around ideas and principles, more than technicalities. The book is primarily intended for risk professionals, researchers and graduate students in the fields of engineering and business, and should also be of interest to executive managers and policy makers with some background in quantitative methods such as statistics.

Safety, Reliability, Risk and Life-Cycle Performance of Structures and Infrastructures

Safety, Reliability, Risk and Life-Cycle Performance of Structures and Infrastructures PDF Author: George Deodatis
Publisher: CRC Press
ISBN: 1315884887
Category : Technology & Engineering
Languages : en
Pages : 1112

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Book Description
Safety, Reliability, Risk and Life-Cycle Performance of Structures and Infrastructures contains the plenary lectures and papers presented at the 11th International Conference on STRUCTURAL SAFETY AND RELIABILITY (ICOSSAR2013, New York, NY, USA, 16-20 June 2013), and covers major aspects of safety, reliability, risk and life-cycle performance of str

The Science of Risk Analysis

The Science of Risk Analysis PDF Author: Terje Aven
Publisher: Routledge
ISBN: 0429642725
Category : Business & Economics
Languages : en
Pages : 316

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Book Description
This book provides a comprehensive demonstration of risk analysis as a distinct science covering risk understanding, assessment, perception, communication, management, governance and policy. It presents and discusses the key pillars of this science, and provides guidance on how to conduct high-quality risk analysis. The Science of Risk Analysis seeks to strengthen risk analysis as a field and science by summarizing and extending current work on the topic. It presents the foundation for a distinct risk field and science based on recent research, and explains the difference between applied risk analysis (to provide risk knowledge and tackle risk problems in relation to for example medicine, engineering, business or climate change) and generic risk analysis (on concepts, theories, frameworks, approaches, principles, methods and models to understand, assess, characterise, communicate, manage and govern risk). The book clarifies and describes key risk science concepts, and builds on recent foundational work conducted by the Society for Risk Analysis in order to provide new perspectives on science and risk analysis. The topics covered are accompanied by cases and examples relating to current issues throughout. This book is essential reading for risk analysis professionals, scientists, students and practitioners, and will also be of interest to scientists and practitioners from other fields who apply risk analysis in their work.

The Black Swan

The Black Swan PDF Author: Eric Lybeck
Publisher: CRC Press
ISBN: 1351352989
Category : Business & Economics
Languages : en
Pages : 92

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Book Description
One of the primary qualities of good creative thinking is an intellectual freedom to think outside of the box. Good creative thinkers resist orthodox ideas, take new lines of enquiry, and generally come at problems from the kinds of angles almost no one else could. And, what is more, when the ideas of creative thinkers are convincing, they can reshape an entire topic, and change the orthodoxy for good. Nassim Nicholas Taleb’s 2007 bestseller The Black Swan: The Impact of the Highly Improbable is precisely such a book: an entertaining, polemical, creative attack on how people in general, and economic experts in particular view the possibility of catastrophic events. Taleb writes with rare creative verve for someone who is also an expert in mathematics, finance, and epistemology (the philosophy of knowledge), and he martials all his skills to turn standard reasoning inside out. His central point is that far from being unimportant, extremely rare events are frequently the most important ones of all: it is highly improbable, but highly consequential occurrences – what he calls Black Swans – that have shaped history most. As a result, Taleb concludes, improbability is not a reason to act as if a possible event does not matter. Rather, it should inspire the opposite reaction.