AI Finance

Bishal Dhakal

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18.06.2025

Probability, Risk, and Financial Crises

This episode provides an overview of probability theory as it applies to finance, particularly in understanding financial crises like the 2007 global crisis and the Great Depression. The speaker, Professor Robert Shiller, introduces fundamental statistical concepts such as return, expected value, variance, covariance, and correlation, explaining how these are used to quantify investment performance and risk. A key focus is the assumption of independence in financial models and how its breakdown, coupled with the prevalence of fat-tailed distributions rather than normal distributions, means that extreme market events previously considered highly improbable, like the 1987 stock market crash, can and do occur, challenging traditional Value at Risk (VaR) calculations and leading to new approaches such as CoVaR. The lecture uses historical stock market data, including Apple's performance, to illustrate these concepts, highlighting the complexity and unpredictability of financial markets

25 Min.
18.12.2024

Stocks for the Long Run: The Definitive Guide to Financial Market Returns & Long-Term Investment Str

The definitive guide to stock trading, Stocks for the Long Run has been providing the knowledge, insights, and tools that traders need to understand the market for nearly 30 years.

32 Min.
11.12.2024

Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb

Nassim Nicholas Taleb spent more than two decades as a risk taker before becoming a full-time essayist and scholar focusing on practical, philosophical, and mathematical problems with chance, luck, and probability. His focus in on how different systems handle disorder. He now spends most of his time in the intense seclusion of his study, or as a flâneur meditating in cafés. In addition to his life as a trader he spent several years as an academic researcher (12 years as Distinguished Professor at New York University's School of Engineering, Dean's Professor at U. Mass Amherst). He is the author of the Incerto (latin for uncertainty), accessible in any order (Skin in the Game, Antifragile, The Black Swan, The Bed of Procrustes, and Fooled by Randomness) plus a technical version, The Technical Incerto (Statistical Consequences of Fat Tails). Taleb has also published close to 55 academic and scholarly papers as a backup, technical footnotes to the Incerto in topics ranging from Statistical Physics and Quantitative Finance to Genetics and International affairs. The Incerto has more than 250 translations in 50 languages. Taleb believes that prizes, honorary degrees, awards, and ceremonialism debase knowledge by turning it into a spectator sport. ""Imagine someone with the erudition of Pico de la Mirandola, the skepticism of Montaigne, solid mathematical training, a restless globetrotter, polyglot, enjoyer of fine wines, specialist of financial derivatives, irrepressible reader, and irascible to the point of readily slapping a disciple." La Tribune (Paris) A giant of Mediterranean thought ... Now the hottest thinker in the world", London Times

22 Min.
09.12.2024

Mistakes Were Made (but Not by Me) : Why We Justify Foolish Beliefs, Bad Decisions, and Hurtful Acts

Why do people dodge responsibility when things fall apart? Why the parade of public figures unable to own up when they screw up? Why the endless marital quarrels over who is right? Why can we see hypocrisy in others but not in ourselves? Are we all liars? Or do we really believe the stories we tell?Renowned social psychologists Carol Tavris and Elliot Aronson take a compelling look into how the brain is wired for self-justification. When we make mistakes, we must calm the cognitive dissonance that jars our feelings of self-worth. And so we create fictions that absolve us of responsibility, restoring our belief that we are smart, moral, and right -- a belief that often keeps us on a course that is dumb, immoral, and wrong. Backed by years of research and delivered in lively, energetic prose, Mistakes Were Made (But Not by Me)offers a fascinating explanation of self-deception -- how it works, the harm it can cause, and how we can overcome it.

22 Min.
09.12.2024

The Most Important Things by Howard Marks ( summary)

Howard Marks, the chairman and cofounder of Oaktree Capital Management, is renowned for his insightful assessments of market opportunity and risk. After four decades spent ascending to the top of the investment management profession, he is today sought out by the world's leading value investors, and his client memos brim with insightful commentary and a time-tested, fundamental philosophy. Now for the first time, all readers can benefit from Marks's wisdom, concentrated into a single volume that speaks to both the amateur and seasoned investor. Informed by a lifetime of experience and study, The Most Important Thing explains the keys to successful investment and the pitfalls that can destroy capital or ruin a career. Utilizing passages from his memos to illustrate his ideas, Marks teaches by example, detailing the development of an investment philosophy that fully acknowledges the complexities of investing and the perils of the financial world. Brilliantly applying insight to today's volatile markets, Marks offers a volume that is part memoir, part creed, with a number of broad takeaways. Marks expounds on such concepts as "second-level thinking," the price/value relationship, patient opportunism, and defensive investing. Frankly and honestly assessing his own decisions--and occasional missteps--he provides valuable lessons for critical thinking, risk assessment, and investment strategy. Encouraging investors to be "contrarian," Marks wisely judges market cycles and achieves returns through aggressive yet measured action. Which element is the most essential? Successful investing requires thoughtful attention to many separate aspects, and each of Marks's subjects proves to be the most important thing. "This is that rarity, a useful book."--Warren Buffett

15 Min.
14.11.2024

Irrational Exuberance ( Robert Shiller)

As Robert Shiller’s new 2009 preface to his prescient classic on behavioral economics and market volatility asserts, the irrational exuberance of the stock and housing markets “has been ended by an economic crisis of a magnitude not seen since the Great Depression of the 1930s.” As we all, ordinary Americans and professional investors alike, crawl from the wreckage of our heedless bubble economy, the shrewd insights and sober warnings, and hard facts that Shiller marshals in this book are more invaluable than ever. The original and bestselling 2000 edition of Irrational Exuberance evoked Alan Greenspan’s infamous 1996 use of that phrase to explain the alternately soaring and declining stock market. It predicted the collapse of the tech stock bubble through an analysis of the structural, cultural, and psychological factors behind levels of price growth not reflected in any other sector of the economy. In the second edition (2005), Shiller folded real estate into his analysis of market volatility, marshalling evidence that housing prices were dangerously inflated as well, a bubble that could soon burst, leading to a “string of bankruptcies” and a “worldwide recession.” That indeed came to pass, with consequences that the 2009 preface to this edition deals with. Irrational Exuberance is more than ever a cogent, chilling, and astonishingly far-seeing analytical work that no one with any money in any market anywhere can afford not to read–and heed.

23 Min.
13.11.2024

Devil take the Hindmost (Edward Chancellor)

A lively, original, and challenging history of stock market speculation from the 17th century to present day. Is your investment in that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly? How has the psychology of investing changed--and not changed--over the last five hundred years? In Devil Take the Hindmost, Edward Chancellor traces the origins of the speculative spirit back to ancient Rome and chronicles its revival in the modern world: from the tulip scandal of 1630s Holland, to "stockjobbing" in London's Exchange Alley, to the infamous South Sea Bubble of 1720, which prompted Sir Isaac Newton to comment, "I can calculate the motion of heavenly bodies, but not the madness of people." Here are brokers underwriting risks that included highway robbery and the "assurance of female chastity"; credit notes and lottery tickets circulating as money; wise and unwise investors from Alexander Pope and Benjamin Disraeli to Ivan Boesky and Hillary Rodham Clinton. From the Gilded Age to the Roaring Twenties, from the nineteenth century railway mania to the crash of 1929, from junk bonds and the Japanese bubble economy to the day-traders of the Information Era, Devil Take the Hindmost tells a fascinating story of human dreams and folly through the ages.

14 Min.
09.11.2024 · Bonus

John Maynard Keynes ( The General Theory of Employment, Interest and Money)

This is a brief summary of one of the classic from John Maynard Keynes

14 Min.
08.11.2024

RAY DALIO (PRINCIPLES FOR NAVIGATING BIG DEBT CRISES SUMMARY)

A brief discussion regarding the book written by legendary hedge fund manager Ray Dalio.

33 Min.

9 Folgen

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Bishal Dhakal
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2024 - 2025
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