The Classic Work That Taught a Generation How to Invest. From its early-1960s genesis as his doctoral dissertation topic, William Sharpe's Capital Asset Pricing Model (CAPM) became a linchpin of modern investment theory. By explaining that every investment carries two distinct risks the systematic risk of being in the market along with the unsystematic risk related to a company's fortunes the CAPM presented a quantifiable and sophisticated, yet understandable, model for measuring portfolio risk along with the return an investor can expect for taking that risk. Portfolio Theory and Capital Markets, published in 1970, introduced CAPM to a much wider audience and established Dr. Sharpe as a giant of financial thought. Today, McGraw-Hill proudly reintroduces the meticulously detailed Portfolio Theory and Capital Markets: The Original Edition. Virtually unchanged from the original edition, but with a new introduction from Dr. Sharpe to discuss the CAPM's impact and describe its place in today's markets, this edition is as important for its historical significance as for its still-vital treatment of investing and risk. William Sharpe's Portfolio Theory and Capital Markets was the first book to consolidate centuries of pricing and risk knowledge into one concise, easy-to-understand, and dramatically effective approach. Take this opportunity to add McGraw-Hill's classic collector's edition to your library, and rediscover why Dr. Sharpe's unprecedented insights into the uncertainties and interrelationships of pricing and risk hold as much

    Investing, Finance, How-To

    CONTENTS: Irving Fisher & the Quantity Theory; The Keynesian Revolution; The Counter-Revolution; Key Propositions of Monetarism; Concluding Cautions.

    Due to its age, it may contain imperfections such as marks, notations, marginalia and flawed pages. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions that are true to the original work.