J. V. Bruni and Company
1528 North Tejon Street
Colorado Springs, Colorado 80907
(719) 575-9880 or (800) 748-3409
J. V. Bruni and Company1528 North Tejon Street Colorado Springs, Colorado 80907 (719) 575-9880 or (800) 748-3409
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Capital Ideas: The Improbable
Origins of Modern Wall Street,
by Peter Bernstein.  This is a brilliant, intellectual work
describing the development of financial thinking and theories.
Bernstein, one of the most highly respected financial journalists,
begins this book by focusing on the 1900 doctoral work of the French
mathematician Louis Batchelier, whose pioneering work in probability and
financial theory represented some of the earliest scientific work in
finance. The reader then follows a fascinating financial train of
thought from Batchelier through the Cowles Commission for Research in
Economics (founded in 1932 in Colorado Springs) to Harry Markowitz’s
pioneering 1952 “Portfolio Selection” paper, and then on to the
significant contributions of Merton Miller and Franco Modigliani,
William Sharpe, Paul Samuelson, Kenneth Arrow, Eugene Fama and others.
Isaac Newton is said to have remarked that he could see further than his
predecessors because he
“stood on the shoulders of giants.” Some of the
most important work of the world’s financial giants is discussed and
explained in this comprehensive and highly readable book, and the reader
will be able to
“see”
much further for having read this masterpiece. |
“This is a great book [that] captures marvelously of the excitement of the search for new ideas.” Richard Brealey
"For the first time under one cover, Bernstein tells in layman's terms of the evolution of the prevailing theories of how the stock market works." Bill Barnhart |