Finance as a Pattern of Timeless Moments

James Ming Chen
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James Ming Chen: Michigan State University

Chapter Chapter 1 in Postmodern Portfolio Theory, 2016, pp 1-2 from Palgrave Macmillan

Abstract: Abstract Quantitative finance traces its roots to modern portfolio theory. Despite the deficiencies of modern portfolio theory, mean-variance optimization nevertheless continues to form the basis for contemporary finance. The term postmodern portfolio theory captures many of the advances in financial learning since the original articulation of modern portfolio theory. A comprehensive approach to financial risk management must address all aspects of portfolio theory, from the beautiful symmetries of modern portfolio theory to the disturbing behavioral insights and the vastly expanded mathematical arsenal of the postmodern critique.

Keywords: Market Risk; Capital Asset Price Model; Portfolio Theory; Expected Shortfall; Modern Portfolio Theory (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:qpochp:978-1-137-54464-3_1

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DOI: 10.1057/978-1-137-54464-3_1

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