|  | Author: Peter L. Bernstein
Publisher: Wiley
List Price: $19.95
Buy Used: $3.96
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Seller: awesomebooksusa
Rating:  163 reviews
Sales Rank: 2618
Languages: English (Original Language), English (Unknown), English (Published)
Media: Paperback
Pages: 400
Number Of Items: 1
Shipping Weight (lbs): 1.1
Dimensions (in): 8.9 x 6 x 1.1
ISBN: 0471295639
Dewey Decimal Number: 368
UPC: 723812295630
EAN: 9780471295631
ASIN: 0471295639
Publication Date: August 31, 1998
Availability: Usually ships in 1-2 business days
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| Customer Reviews:
Showing reviews 16-20 of 163
Just Great! May 17, 2008
Frederico Rasch (Brazil)
Great book for Risk Manager's Professionals. Include great point of view and provide a good background.
 A must April 9, 2008
Paul Sergeant (Europe)
This book is an abolute must for whoever uses the word RISK in reflexion, work, publication or lecture.
 Story versus Thesis March 5, 2008
L. J. Oja (Thunder Bay , Ontario Canada)
2 out of 6 found this review helpful
The topic is interesting, but the minutiae of the story makes it difficult to stay engaged, and as such, reads more like a very dry thesis. So, the phrase: "Story of Risk" might sell books, but it does not accurately address this book. I did not feel engaged throughout the reading of this work, and this belies the problem with the asymmetry of title and book.
However, for academics and teachers, the book does give detail which may be used to "spice up" lectures. This may prove to be its number one utility.
My own barometer of whether a book is truly five stars is measured by its life on my bookshelf. I have a finite sized bookshelf, and yet the number of books being published is something for which an end of publication is difficult to see. As my attention was drawn to this book again, after seeking out other "Black Swan" books, I can tell you that my hardcover is looking for a different venue for its life time on my bookshelf is now in question.
Investments February 16, 2008
B. Teater (OKC, OK)
1 out of 3 found this review helpful
This book was a gift for the man interested in investments!
He loves it!
 Dry and Unfulfilling, Except Chapter 16 January 14, 2008
Judah (Terre Haute In USA)
0 out of 2 found this review helpful
This book was recommended to me because I'm interested in getting an MBA eventually. I don't see what the fuss was about.
It's a long dry series of history interjection separated by basic probabilities and a few simplified algorithms. I took math courses in college, and this book came off as simplistic.
It goes over the history of risk from approximately ancient Greece up to 1950. It isn't going to help you in your own business dealings. The concept of punctuated equilibrium bursting artificial market bubbles and rewriting the rules of risk isn't even mentioned. Chaos theory gets one paragraph at the end of the novel. This made the book largely useless.
The only good about the book (to me) was chapter 16, titled 'The Failure of Invariance' (inconsistent choices for the same problem framed in different ways) which explains Prospect Theory. Distilled it means emotions destroy rational decision making, and people often don't understand what they are dealing with. Basically 'we use shortcuts that lead us to erroneous perceptions, or we interpret small samples as representative of what larger samples would show' (overgeneralization, p271). We interpret gains and losses (chance of losing means we gamble more) differently, and overvalue dramatic components, ignoring the data from other sources. It means we misjudge risk because we don't understand the situation well enough. It is applied fuzzy thinking strained through ego. This chapter made me investigate the research of Kahneman and Tversky, and I found it the [only] worthwhile portion of this book.
Showing reviews 16-20 of 163
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