book reviews

124 Posts

Book Review: Better Bankers, Better Banks

Book Review: Better Bankers, Better Banks

Because they do not regard ethical failings in the financial industry as the actions of a few bad apples but, rather, as inevitable consequences of an unhealthy culture, the authors seek to restore the environment that existed before the major investment banks transformed themselves from partnerships into publicly traded corporations. The problems addressed in this book affect every participant in the financial system. Read more

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Book Review: The Econometrics of Individual Risk

Book-Review-The-Econometrics-of-Individual-Risk

In this reissued book, the authors explore credit risk from four distinct quantitative perspectives — the occurrence, frequency, timing, and severity of a loss — and focus on the core econometric techniques for measuring each aspect. Given the industry failings associated with the recent global financial crisis, it is more important than ever for financial analysts to understand the mechanics of quantitative risk tools. Read more

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Book Review: Enterprise Risk Management in Finance

Book Review: Enterprise Risk Management in Finance

Providing a general overview of salient topics in risk management, this book is best suited to the experienced risk manager, who can turn to it for technical guidance and a good, succinct refresher on select topics. The beginner would do well to stick with the book’s qualitative discussions, which can serve as useful points of departure for further study. Read more

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Book Review: The Future of Pension Management

Book Review: The Future of Pension Management

The author, a thought leader in the pension industry, covers a broad spectrum of pension management topics. He focuses on changes the industry needs to make in order to overcome its challenges — in particular, its failure to achieve its goals of affordability and retirement security. The solutions already exist; the problem is one of implementation. Read more

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Book Review: Wall Street Potholes

Book Review: Wall Street Potholes

The author, together with four other expert money managers, addresses a range of investment topics that pose special dangers to investors, including nontrading REITs, yield dependence, structured notes, hedge funds, Wall Street inefficiency, mutual fund fees, annuities, brokers and fiduciaries, and the future for investors. Read more

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Book Review: Misbehaving

Misbehaving

Richard H. Thaler takes readers on an entertaining journey through the evolution of behavioral economics. His gift for writing has produced a book that is a blend of his life as a research professor, stories of other economists he met along the way, and a history of behavioral economics. This book is an excellent read on the shortcomings of classical economic and finance theory. Read more

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Book Review: Mastering ’Metrics

Mastering Metrics

The authors provide an easy-to-read overview of key concepts in econometrics for anyone desiring a strong intuitive description of how to conduct analysis using simple techniques. Covering a limited number of topics with practical examples of each, they offer a useful framework for conducting fundamental econometric analysis. Although the book does not directly discuss financial issues, it provides a good foundational review for the financial empiricist who wishes to better structure econometric tests. Read more

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Book Review: Wall Street Wars

Wall Street Wars

In its extensive recounting of financial misdeeds prior to the 1929 stock market crash, this fine work of popular financial history notes the parallels between recent events and the debates in the early 1930s over securities regulation and the subsequent enactment of landmark securities laws. Amid talk of the need to restore trust in the financial industry, the incidents recounted in the book suggest that restoration should apply only to firms that are worthy of trust and must come about through commitment to ethical practices, rather than public relations campaigns. Read more

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