{"product_id":"9781137447005","title":"Indices, Index Funds And ETFs: Exploring HCI, Nonlinear Risk and Homomorphisms","description":"\u003ch1\u003eIndices, Index Funds And ETFs: Exploring HCI, Nonlinear Risk and Homomorphisms\u003c\/h1\u003e \u003ch2\u003eNwogugu, Michael I. C.\u003c\/h2\u003e \u003cp\u003e\u003c\/p\u003e\u003cp\u003eIndices, 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 (PT\u003csup\u003e3\u003c\/sup\u003e), 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.   \u003c\/p\u003e \u003ch3\u003eDetails\u003c\/h3\u003e \u003cp\u003ePublished by: Palgrave Macmillan\u003c\/p\u003e \u003cp\u003ePublication Date: 2019-03-21\u003c\/p\u003e \u003cp\u003eFormat: Hardcover\u003c\/p\u003e \u003cp\u003eISBN-13: 9781137447005\u003c\/p\u003e \u003cp\u003eDOI: 10.1057\/978-1-137-44701-2\u003c\/p\u003e \u003cp\u003eDimensions: 210cm x148cm\u003c\/p\u003e \u003cp\u003ePages: 696\u003c\/p\u003e ","brand":"Palgrave Macmillan UK","offers":[{"title":"Default Title","offer_id":47440461234316,"sku":"9781137447005","price":98.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9781137447005.jpg?v=1775915208","url":"https:\/\/lateknightbooks.com\/products\/9781137447005","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}