The paper presents accounting-based metrics (ROC, ROIC, ROE) with basic algebraic formulas and conceptual discussions, lacking advanced mathematics or statistical modeling. It focuses on theoretical valuation and measurement principles rather than empirical backtesting or dataset-driven analysis.
The paper focuses heavily on risk management case studies, portfolio statistics, and drawdown analysis from LTCM’s historical data with specific return figures, but contains minimal advanced mathematics, relying mostly on descriptive statistics and historical narrative.
The article of Hugh J. Ault is the revised text of a lecture held on May 2, 2013, at the Max Planck Institute for Tax Law and Public Finance. It focuses on the
Investors have seen countless charts of US stock market performance which start in 1926 and end near the present. But US trading long predates 1926, and the for
This paper addresses 10 corporate finance topics that are not well treated (or not treated at all) in many Corporate Finance Books. The topics are: 1. Where doe
This paper addresses 10 corporate finance topics that are not well treated (or not treated at all) in many Corporate Finance Books. The topics are:
The rate of failure in quantitative finance is high, and particularly so in financial machine learning. The few managers who succeed amass a large amount of ass
The number of published event studies exceeds 500, and the literature continues to grow. We provide an overview of event study methods. Short-horizon methods ar
The excerpt presents a theoretical discussion on financial stability and market phases without heavy mathematical derivations, backtests, or implementation details.
Recent scholarship shows that informed traders increasingly disguise trades in economically linked securities such as exchange-traded funds (ETFs). Linking that
The paper reviews historical finance theory (MPT, CAPM, Fama-French) with minimal advanced math, focusing on conceptual discussion rather than new derivations or models. It lacks any backtests, datasets, or implementation details, serving primarily as a theoretical critique and framework proposal wi
The paper introduces and derives the mathematical formulas for the CAPM and beta, involving covariance and variance calculations, which is moderately complex. However, it lacks backtest results, code, or heavy implementation details, relying primarily on conceptual explanation and historical data ch
The paper focuses on explaining fundamental DCF concepts and criticizing unnecessary complications, using basic arithmetic and algebra rather than advanced mathematics. It is theoretical and educational, lacking any backtesting, datasets, or implementation details.
The growth of subscription-based commerce has seen a change in the types of data firms report to external shareholders. More than ever before, companies are dis
Over the past fifteen years, there has been a tremendous boom in the private equity industry. The pool of U.S. private equity funds (partnerships specializing i
Finance professionals, who are regularly exposed to notions of volatility, seem to confuse mean absolute deviation with standard deviation, causing an underesti
The excerpt is a descriptive overview of behavioral finance concepts with no mathematical formulas or advanced statistical analysis, and it presents no data, backtests, or implementation details.
Decentralized Finance (DeFi) has revolutionized financial markets by enabling complex asset-exchange protocols without trusted intermediaries. Automated Market Makers (AMMs) are a central component of DeFi, providing the core functionality of swapping assets of different types at algorithmically com
In this work, we investigate the market-making problem on a trading session in which a continuous phase on a limit order book is followed by a closing auction. Whereas standard optimal market-making models typically rely on terminal inventory penalties to manage end-of-day risk, ignoring the signifi
We propose a structural framework for the geometry of financial order books in which liquidity, supply, and demand are treated as emergent observables rather than primitive economic variables. The market is modeled as an inflationary relational system without assumed metric, temporal, or price coord