Timothy Crack Foundations for scientific investing (revised ninth): capital markets intuition and critical thinking skills, paperback/timothy falcon crack

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Note: eBook version of latest edition now available; see Amazon author page for details.

] This revised ninth edition lays a firm foundation for thinking about and conducting investment.

It does this by helping to build capital markets intuition and critical thinking skills.

The material in this book is the product of 25+ years of investment research and experience (academic, personal, and professional), and 20+ painstaking years of destructive testing in university classrooms.

Although the topic is applied investments, the integration of finance, economics, accounting, pure mathematics, statistics, numerical techniques, and spreadsheets (or programming) make this an ideal capstone course at the advanced undergraduate or masters/MBA level.

The book has a heavily scientific/quantitative focus, but the material should be accessible to a motivated practitioner or talented individual investor with (for the most part) only high school level mathematics or intermediate level University mathematics.

Although aimed at the advanced undergraduate or masters/MBA level, the careful explanations of a wide range of advanced capital markets topics makes this an excellent book for a U.

Ph D student in need of an easily accessible foundation course in capital markets theory and practice.

There are literature reviews of multiple advanced areas, and more than 30 unanswered research questions are identified; these research questions would be ideal for a master's thesis or a chapter of a Ph D.

The applied nature of the book also makes it ideal for capital markets practitioners.

For example, in one exercise, the reader is taken by the hand and walked through construction of a worked spreadsheet example of an active alpha optimization using actual stock market data.

(The reader gets to build ex-ante alphas, and feed them into an optimization that weighs returns, risk, and transaction costs.

A portfolio is rebalanced based on the optimization, and ultimately a backtest is conducted to measu.