Footnotes
1. Siegel,
Jeremy; Stocks for the Long Run;
McGraw-Hill, New York, 1998; p. 12.
2. Ibbotson
& Brinson; Investment Markets; McGraw-Hill,
New York, 1987; p. 67. It may be argued that this distribution, if not
perfectly normal, is normal enough and can be used in quantitative finance. We
think the analysis will be very sensitive to non-normality; causing misfortune
if normality is assumed.
3. Bhidé,
Amar; Harvard
Business Review, September 2010; “The Judgment Deficit”; p. 47.
4. Moore,
Geoffrey; Dealing with Darwin,
Penguin Group, New York, 2005; p. 150.
5. Greenwald,
Bruce; Value Investing; John Wiley
& Sons, Inc., Hoboken, New Jersey, 2001; p,.p.
xxv, xviii, xix respectively.
6. Ibid,
p. xix. Professor Greenwald discusses how value investing has evolved over time
in this preface.
7. Keynes,
J.M.; The General Theory; Harcourt Brace,
Orlando, Florida, 1964 (ed.); p. 163.