Review of Guide to Investment Strategy: How to Understand Markets, Risk, Rewards And Behavior (Economist (Hardcover)) (Hardcover)

The main thrust of this book is that disastrous outcomes are far more likely than people would like to think, esp if they feel they "know" a certain market. it spends a lot of time justifying the need for diversification and how people respond to risk and adverse outcomes (behavioral economics).

definitely directed at the deep pocketed and (would-be?) financial managers who invest large sums of money (for themselves or others). it does not give you a strategy to follow (any good book CANNOT).

it also tries to show both sides: it says equities can have more risk than people imagine and also says that given past performance long term investors may be bullish on equities (esp when compared with "safe haven" treasuries). it suggests that the investors value their appetite for risk and reward and invest accordingly.

though it frequently resorts to tables and graphs, it is not super technical but does try to cover a lot of jargon and work by current economic research.



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Review of Statistical Methods in Econometrics (Hardcover)

If you want to have a book for quick reference and review on basic statistics, this is the one.

It is very well written, but it does not give extensive explanations on the topics it covers, because it assumes thereader has already studied the subject.

I think this is the perfect bookfor a Summer course, usually given to entrants PhD students inEconomics.

All the important results that a PhD student in Economics isgoing to use are there, either derived in the body of the text, or as anexercise. By the way, the exercises are very well posed, they present veryinteresting results, and the difficulty level is pretty appropriate.

Thehigh points are Part I - Probability theory, and Part II - StatisticalInference. In the former, generating functions and all relevantdistributions in Statistics are discussed, as well as the mathematicalrelationship between the distributions. In the latter, the instructorshould complete the asymptotic distribution theory with another reference.Part III - Econometrics - should be covered in a real Econometrics course,although it talks about heteroscedaticity, surprisingly including GARCHmodels.



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