Indices, Index Funds And ETFs

Exploring HCI, Nonlinear Risk and Homomorphisms

Business & Finance, Finance & Investing, Investments & Securities
Cover of the book Indices, Index Funds And ETFs by Michael I. C. Nwogugu, Palgrave Macmillan UK
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Michael I. C. Nwogugu ISBN: 9781137447012
Publisher: Palgrave Macmillan UK Publication: March 9, 2019
Imprint: Palgrave Macmillan Language: English
Author: Michael I. C. Nwogugu
ISBN: 9781137447012
Publisher: Palgrave Macmillan UK
Publication: March 9, 2019
Imprint: Palgrave Macmillan
Language: English

Indices, index funds and ETFs are grossly inaccurate and inefficient and affect more than €120 trillion worth of securities, debts and commodities worldwide. This book analyzes the mathematical/statistical biases, misrepresentations, recursiveness, nonlinear risk and homomorphisms inherent in equity, debt, risk-adjusted, options-based, CDS and commodity indices – and by extension, associated index funds and ETFs. The book characterizes the “Popular-Index Ecosystems,” a phenomenon that provides artificial price-support for financial instruments, and can cause systemic risk, financial instability, earnings management and inflation. The book explains why indices and strategic alliances invalidate Third-Generation Prospect Theory (PT3), related approaches and most theories of Intertemporal Asset Pricing. This book introduces three new decision models, and some new types of indices that are more efficient than existing stock/bond indices. The book explains why the Mean-Variance framework, the Put-Call Parity theorem, ICAPM/CAPM, the Sharpe Ratio, Treynor Ratio, Jensen’s Alpha, the Information Ratio, and DEA-Based Performance Measures are wrong. Leveraged/inverse ETFs and synthetic ETFs are misleading and inaccurate and non-legislative methods that reduce index arbitrage and ETF arbitrage are introduced.  

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Indices, index funds and ETFs are grossly inaccurate and inefficient and affect more than €120 trillion worth of securities, debts and commodities worldwide. This book analyzes the mathematical/statistical biases, misrepresentations, recursiveness, nonlinear risk and homomorphisms inherent in equity, debt, risk-adjusted, options-based, CDS and commodity indices – and by extension, associated index funds and ETFs. The book characterizes the “Popular-Index Ecosystems,” a phenomenon that provides artificial price-support for financial instruments, and can cause systemic risk, financial instability, earnings management and inflation. The book explains why indices and strategic alliances invalidate Third-Generation Prospect Theory (PT3), related approaches and most theories of Intertemporal Asset Pricing. This book introduces three new decision models, and some new types of indices that are more efficient than existing stock/bond indices. The book explains why the Mean-Variance framework, the Put-Call Parity theorem, ICAPM/CAPM, the Sharpe Ratio, Treynor Ratio, Jensen’s Alpha, the Information Ratio, and DEA-Based Performance Measures are wrong. Leveraged/inverse ETFs and synthetic ETFs are misleading and inaccurate and non-legislative methods that reduce index arbitrage and ETF arbitrage are introduced.  

More books from Palgrave Macmillan UK

Cover of the book Conflict in the Caucasus by Michael I. C. Nwogugu
Cover of the book Theatre History and Historiography by Michael I. C. Nwogugu
Cover of the book Human Rights in the 21st Century by Michael I. C. Nwogugu
Cover of the book Creative Labour Regulation by Michael I. C. Nwogugu
Cover of the book Real Market Economics by Michael I. C. Nwogugu
Cover of the book Stylistic Approaches to Nigerian Fiction by Michael I. C. Nwogugu
Cover of the book Local Public Sector Reforms in Times of Crisis by Michael I. C. Nwogugu
Cover of the book Marketing Leadership in Government by Michael I. C. Nwogugu
Cover of the book Youth Gangs, Violence and Social Respect by Michael I. C. Nwogugu
Cover of the book The Mediterranean Dimension of the European Union's Internal Security by Michael I. C. Nwogugu
Cover of the book Policy Discourses on Irregular Migration in Germany and the United Kingdom by Michael I. C. Nwogugu
Cover of the book Neoclassical Realism and Defence Reform in Post-Cold War Europe by Michael I. C. Nwogugu
Cover of the book New Urban Management: Attracting Value Flows to Branded Hubs by Michael I. C. Nwogugu
Cover of the book Surfing the Global Tide by Michael I. C. Nwogugu
Cover of the book The European Union's Mediterranean Policy: Model or Muddle? by Michael I. C. Nwogugu
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy