Moving beyond modern portfolio theory : investing that matters (eBook, 2021) [WorldCat.org]
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Moving beyond modern portfolio theory : investing that matters

Author: Jon Lukomnik
Publisher: Abingdon, Oxon ; New York, NY : Routledge, 2021.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
"Moving Beyond Modern Portfolio Theory: Investing That Matters tells the story of how Modern Portfolio Theory (MPT) revolutionized the investing world and the real economy, but is now showing its age. MPT has no mechanism to understand its impacts on the environmental, social and financial systems, nor any tools for investors to mitigate the havoc that systemic risks can wreck on their portfolios. It's time for MPT  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Lukomnik, Jon.
Moving beyond modern portfolio theory
Abingdon, Oxon ; New York, NY : Routledge, 2021
(DLC) 2020049100
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Jon Lukomnik
ISBN: 9780429352256 0429352255 9781000376128 1000376125 9781000376159 100037615X
OCLC Number: 1224584256
Description: 1 online resource
Contents: Introduction --
The MPT revolution devours its children --
The MPT paradox --
Short-termism.
Responsibility: Jon Lukomnik and James P. Hawley.

Abstract:

"Moving Beyond Modern Portfolio Theory: Investing That Matters tells the story of how Modern Portfolio Theory (MPT) revolutionized the investing world and the real economy, but is now showing its age. MPT has no mechanism to understand its impacts on the environmental, social and financial systems, nor any tools for investors to mitigate the havoc that systemic risks can wreck on their portfolios. It's time for MPT to evolve. The authors propose a new imperative to improve finance's ability to fulfil its twin main purposes: providing adequate returns to individuals and directing capital to where it is needed in the economy. They show how some of the largest investors in the world focus not on picking stocks, but on mitigating systemic risks, such as climate change and a lack of gender diversity, so as to improve the risk/return of the market as a whole, despite current theory saying that should be impossible. "Moving beyond MPT" recognizes the complex relations between investing and the systems on which capital markets rely, "Investing that matters" embraces MPT's focus on diversification and risk adjusted return, but understands them in the context of the real economy and the total return needs of investors. Whether an investor, an MBA student, a Finance Professor or a sustainability professional, Moving Beyond Modern Portfolio Theory: Investing That Matters is thought-provoking and relevant. Its bold critique shows how the real world already is moving beyond investing orthodoxy"--

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"If you want to know what is next in finance and investing, read this book. Lukomnik and Hawley expertly show how financial theory got us here, the limitations of that theory and what is poised to Read more...

 
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