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.
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