{"product_id":"indices-index-funds-and-etfs-von-michael-i-c-nwogugu","title":"Indices, Index Funds And ETFs","description":"\n                                \n                \u003cp\u003e\n                                        Indices, 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\n                    \n                    \u003csup\u003e3\u003c\/sup\u003e\n                                        ), 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.   \n                \n                \u003c\/p\u003e\n                            \n            \u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9781137447005\"\u003e\u003ch3\u003eExploring HCI, Nonlinear Risk and Homomorphisms\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Hardcover - 9781137447005","offer_id":39472432742493,"sku":"9781137447005","price":106.99,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/467f38fd-2e39-48b9-8578-c352afeb89ea.jpg?v=1775275586","url":"https:\/\/shop.autorenwelt.de\/en\/products\/indices-index-funds-and-etfs-von-michael-i-c-nwogugu","provider":"Autorenwelt Shop","version":"1.0","type":"link"}