Together with his highly successful predecessor, Capital Ideas The Improbable Origins of Modern Wall Street (The Free Press, New York, 1992), Bernstein has laid out a remarkably insightful and entertaining history of the "science" of finance, including fascinating descriptions of the people who drove the development of modern financial economics.īernstein's earlier work, Ideas, emphasized the advances emerging from the notion that investors are rational and security markets are efficient It focused on modern portfolio theory and its implications for security prices, and on the development of new instruments, like equity options.
Peter Bernstein's latest book, Against the Gods The Remarkable Story of Risk, establishes his standing as America's preeminent scholar-practitioner in the field of finance.
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