book reviews

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Book Review: Investor Behavior

Investor Behavior: The Psychology of Financial Planning and Investing

This collection of articles by scholars in the field of behavioral finance encompasses a wide range of topics in the psychology of investing, focusing on academic work on financial planning. The book addresses a number of topics not usually covered in mainstream behavioral finance research. Read more

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Book Review: The Battle of Bretton Woods

The Battle of Bretton Woods: John Maynard Keynes, Harry Dexter White, and the Making of a New World Order

This thorough, fascinating account of the international conference that culminated in the 1944 agreement to maintain stable exchange rates skillfully places it in its economic and geopolitical context. Although the author presents no boldly original interpretation of Bretton Woods, he offers excellent insight into the tribulations of the key players. Read more

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Book Review: Bonds Are Not Forever: The Crisis Facing Fixed Income Investors

Bonds Are Not Forever: The Crisis Facing Fixed Income Investors

This book is recommended for anyone interested in the contemporary role of bonds in investment portfolios. The author explores the history of debt from ancient to modern times and discusses the growth of derivatives, developments in risk management, inflation in the modern era, the political backdrop of today’s debt standoffs, and why “bonds are not forever.” Read more

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Book Review: Risk–Return Analysis: The Theory and Practice of Rational Investing

Risk-Return Analysis: The Theory and Practice of Rational Investing

Drawing on his own prior research and that of others, Harry M. Markowitz addresses the objections to mean–variance analysis, concluding that it is central to finance for good reason. He proceeds from a set of incontrovertible premises to the conclusion that mean–variance analysis is the best tool available for addressing a wide range of portfolio-construction problems. Read more


Book Review: Crony Capitalism in America

Crony Capitalism in America: 2008–2012

According to this provocative book, the US economy is morphing into crony capitalism, a system in which business success is fostered by relationships between business and government. To gain a competitive edge or to limit competition, business interests lobby the government to tilt — rather than level — the playing field by granting their particular companies special favors. The end result is a system in which the few are enriched at the expense of the many. Read more