【正文】
you must understand why panies and financial markets behave the way they do. In other words, you need a theory of finance.……Good theory helps you grasp what is going on in the world around you. It helps you to ask the right questions when times change and new problems must be analyzed. It also tells you what things you do not need to worry and Myers Why does not there exists any advice on ―guaranteed‖ ways to beat the market? ? Any system designed to beat the market, once known to more than a few people, carries the seeds of its own destruction. ? There are two reasons for not including advice on ―guaranteed‖ ways to beat the market in this book. – First, to do so would make a successful system public and hence unsuccessful. – Second, the authors know of such system. ? This does not mean that financial analysis is useless. Although individuals should be skeptical when others tell them how to use financial analysis to beat the market, individuals can try to understand the market with the use of financial . Sharpe, etc. 什么是金融學 (Finance) ? Finance is a subfield of economics distinguished by both its focus and its methodology. The primary focus of finance is the workings of the capital markets and the supply and the pricing of capital as