Investment Management:A Science to Teach Or an Art to Learn?

Download or read book Investment Management:A Science to Teach Or an Art to Learn? written by Frank J. Fabozzi and published by CFA Institute Research Foundation. This book was released on 2014-05-16 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the 2007–09 financial crisis, mainstream finance theory was criticized for failing to forecast the market crash, which resulted in large losses for investors. Has our finance theory, which many consider an idealization that does not take reality into account, failed investors? Do we need to reconsider the theory and how it is taught (and practiced)? This book explores current critiques of mainstream theory and discusses implications for the curricula of finance programs as well as for practitioners. In so doing, the authors integrate a review of the literature supported by conversations with finance professors, asset managers, and other market players.