Then, one autumn, the Dean handed him a new mandate: “We need 9% to fund the new library, Alistair. Find an edge.”
Haugen begins by critiquing traditional investment theories, such as the CAPM, which assumes that investors are rational, risk-averse, and have homogeneous expectations. He argues that these assumptions are unrealistic and lead to several shortcomings, including: modern investment theory robert haugen pdf
Despite the emergence of newer models, the principles in this book remain highly relevant. Then, one autumn, the Dean handed him a