Book description
"A lot has happened in the financial markets since 1992, when
Peter Bernstein wrote his seminal Capital Ideas. Happily, Peter has
taken up his facile pen again to describe these changes, a virtual
revolution in the practice of investing that relies heavily on complex
mathematics, derivatives, hedging, and hyperactive trading. This fine
and eminently readable book is unlikely to be surpassed as the
definitive chronicle of a truly historic era."
-John C. Bogle
, founder of The Vanguard Group and author, The Little Book of Common
Sense Investing
"Just as Dante could not have understood or survived the perils of
the Inferno without Virgil to guide him, investors today need Peter
Bernstein to help find their way across dark and shifting ground. No one
alive understands Wall Street's intellectual history better, and that
makes Bernstein our best and wisest guide to the future. He is the only
person who could have written this book; thank goodness he did."
-Jason Zweig
, Investing Columnist, Mone
y magazine
"Another must-read from Peter Bernstein! This well-written and
thought-provoking book provides valuable insights on how key finance
theories have evolved from their ivory tower formulation to profitable
application by portfolio managers. This book will certainly be read with
keen interest by, and undoubtedly influence, a wide range of
participants in international finance."
-Dr. Mohamed A. El-Erian
, President and CEO of Harvard Management Company, Deputy Treasurer of
Harvard University, and member of the faculty of the Harvard Business School
"Reading Capital Ideas Evolving
is an experience not to be missed. Peter Bernstein's knowledge of the
principal characters-the giants in the development of investment theory
and practice-brings this subject to life."
-Linda B. Strumpf
, Vice President and Chief Investment Officer, The Ford Foundation
"With great clarity, Peter Bernstein introduces us to the insights
of investment giants, and explains how they transformed financial theory
into portfolio practice. This is not just a tale of money and models; it
is a fascinating and contemporary story about people and the power of
their ideas."
-Elroy Dimson
, BGI Professor of Investment Management, London Business School
"Capital Ideas Evolving
provides us with a unique appreciation for the pervasive impact that
the theory of modern finance has had on the development of our capital
markets. Peter Bernstein once again has produced a masterpiece that is
must reading for practitioners, educators and students of finance."
-André F. Perold
, Professor of Finance, Harvard Business School Peter L. Bernstein
is President of Peter L. Bernstein, Inc., an investment con-sultant
firm he founded in 1973, after many years of managing billions of
dollars in individual and institutional portfolios. Bernstein is also
the author of ten books on economics and finance, including the
bestselling Capital Ideas
, Against the Gods: The Remarkable Story of Risk
, and The Power of Gold: The History of an Obsession
. He has lectured widely throughout the United States and abroad, and
has received the highest honors from his peers in the investment
profession.
