"Gentlemen," he said, adjusting his spectacles. "This is the only investment textbook you will ever need. Robert Haugen argued that the market is not efficient. It is emotional. It overpays for stories and underpays for assets. We made 11% not by being brave, but by being boring. We bought what was cheap and ignored the noise."
Then, one autumn, the Dean handed him a new mandate: “We need 9% to fund the new library, Alistair. Find an edge.”
: Analysis of interest rate levels, the term structure of rates, and techniques like interest immunization
A provocative, empirically driven challenge to market orthodoxy—smart, sometimes dense, and highly rewarding for readers who want theory that survives real markets.
Haugen eventually moved from the classroom to the boardroom, founding Haugen Custom Financial Systems. He used his "New Finance" theories—the idea that cheap, low-risk stocks win—to build quantitative models that outperformed the traditional methods taught in his own early textbooks.
"Gentlemen," he said, adjusting his spectacles. "This is the only investment textbook you will ever need. Robert Haugen argued that the market is not efficient. It is emotional. It overpays for stories and underpays for assets. We made 11% not by being brave, but by being boring. We bought what was cheap and ignored the noise."
Then, one autumn, the Dean handed him a new mandate: “We need 9% to fund the new library, Alistair. Find an edge.” modern investment theory robert haugen pdf
: Analysis of interest rate levels, the term structure of rates, and techniques like interest immunization "Gentlemen," he said, adjusting his spectacles
A provocative, empirically driven challenge to market orthodoxy—smart, sometimes dense, and highly rewarding for readers who want theory that survives real markets. It is emotional
Haugen eventually moved from the classroom to the boardroom, founding Haugen Custom Financial Systems. He used his "New Finance" theories—the idea that cheap, low-risk stocks win—to build quantitative models that outperformed the traditional methods taught in his own early textbooks.