Capital Ideas

Contents

Introduction: The revolution in the wealth of nations

Part 1: Setting the Scene

1.  Are stock prices predictable?

Part 2: The Whole and The Parts

2.  Fourteen pages to fame
3.  The interior decorator fallacy
4.  The most important single influence

Part 3: The Daemon of Chance

5.  Illusions, molecules and trends
6.  Anticipating prices properly
7. The search for high P.Q.

Part 4: What are Stocks Worth?

8. The best at the price
9.  The bombshell assertions
10. Risky business
11. The universal financial device

Part 5: From Gown to Town

12.  The constellation
13.  The accountant for risk
14.  The ultimate invention

Part 6: The Future

15.  The view from the top of the tower

One of the classics of Wall Street, Bernstein's Capital Ideas is a fascinating history of the intellectual developments that shaped finance during the 20th century. Familiar notions of efficient markets, portfolio theory, option pricing theory and more all come to life in this unique history.

 

Bernstein's language is not mathematics but personalities. As the founding editor of the Journal of Portfolio Management, he personally knows the pioneers of modern finance. They are all here: Markowitz, Sharpe, Fama, Black, Scholes and many more. By getting to know each as a person, we come to understand the forces that shaped them and their theories.

You will learn a lot of finance from this book. It is a masterful tale and an excellent companion to such books as Bodie, et al. (2002) and Chriss (1997).

For related books, see sections:

History - Histories

Finance - General

Finance - Portfolio Theory

Portfolio Management - General

Portfolio Management - Allocation/Optimization

Markets - Derivatives

Financial Engineering - Basic Theory
 

 

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