There Are No Shortcuts in Investing: Nobel Laureate William Sharpe

This is a discussion with William F. Sharpe, a Nobel Laureate and a key figure in financial theory. Those who have studied finance or who've had some exposure to investments will no doubt have hear his name before, indeed the "Sharpe ratio" was developed by Sharpe in 1966, and introduced the Capital Asset Pricing Model (CAPM). In this discussion Sharpe explains that in investing there are no easy answers or short cuts. Most students of finance should know this; to get higher reward you must take on more risk, and market anomalies are often short lived. While there are numerous people touting magic formulas, the process of investing is relatively straight forward and more or less governed by fundamental rules and the forces of markets and economies.

Nobel Laureate William F. Sharpe explains how futile it is to read sure-thing investing books or watch the latest financial guru to find easy answers on weathering the financial crisis or filling the holes in your portfolio.

Sharpe is the Stanco 25 Professor of Finance Emeritus and Nobel Laureate. Part of a series discussion on "Stanford Pioneers in Science", a program sponsored by Stanford Continuing Education. Interviewed by Paul Costello, communication and public affairs director, School of Medicine


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