Redefining Risk & Return
Redefining Risk & Return This book is the first attempt to re-define objective risk. The discussion begins by presenting an intuitive and useful definition of risk: the probability of prospective…
Specifikacia Redefining Risk & Return
Redefining Risk & Return
This book is the first attempt to re-define objective risk. The discussion begins by presenting an intuitive and useful definition of risk: the probability of prospective capital shortfall. It addresses the cost of running out of capital as a generalized cost syndrome and explains how it is possible to describe this cost in such a way as to give it practical, real-life significance for personal finances, company finances and the economy as a whole.
This book will be of interest to economists, politicians, and decision makers as well as to the general public. From this point it establishes a risk theory and expands the work of major thinkers such as Frank Knight and John Maynard Keynes, and adds reserve capital as a new financial risk management tool, with an economic function that is different from savings.