03254nam a2200421Ii 4500 9781789730630 UtOrBLW 20251029120219.0 m o d cr un||||||||| 190315s2019 enk ob 001 0 eng d 9781789730630 (e-book) UtOrBLW eng rda UtOrBLW HG4529 .C65 2019 KF bicssc BUS017000 bisacsh 332.6 Coleman, Les, author. 59845 New principles of equity investment / Les Coleman (The University of Melbourne, Australia). Bingley, U.K. : Emerald Publishing Limited, 2019. ©2019 1 online resource (xvi, 258 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier Includes bibliographical references and index. Prelims -- 1. What this book is about -- 2. Four-component model of equity pricing -- 3. How professionals invest -- 4. Risk in equity investment -- 5. Fundamental analysis of equities -- 6. Pricing equities within the four-component model -- 7. Market level influences and transaction timing -- 8. Portfolio construction and performance evaluation -- 9. Summary and conclusions -- References -- Index. The modern finance paradigm is incomplete. Obvious gaps include poor performance of professional investors, puzzles enough in equity markets to support a sub-discipline of behavioural finance that patches over irrational biases and mispricings, and chronic, but inexplicable, financial crises. As with so many other disciplines, existing finance theory explains less than a tenth of what we see in markets and investment. A new paradigm of investment is needed.New Principles of Equity Investments brings together robust scientific methodology with empirical evidence to propose a new paradigm of equity investment. It begins with a wide-ranging review of investor practices using mainly US and European research and surveys, and then outlines the nature of investment risk, the links between equity returns and institutional factors, and the structure of equity markets. The result is a sophisticated description of what we know is true about investment, and a frank assessment of the limitations to investment expertise. The author then presents a coherent, workable theory of equity prices that can be applied in practice by equity investors, and explains logical investor behaviours that have been thought of as biases.Written by an academic with many years of practical investment experience, this book will provide new insights for equity investors who are looking for new perspectives and a better understanding of today's complex markets. Investment analysis. 59846 Portfolio management. 59847 Stocks. 59848 Business & Economics Corporate Finance General. bisacsh 57745 Finance & accounting. bicssc 59849 9781789730661 https://www.emerald.com/insight/publication/doi/10.1108/9781789730630 51583 51583