Maslow's hammer, beta activism and the modern portfolio theory paradox | Jon Lukomnik
In episode 113, Alex Proimos speaks with Jon Lukomnik, author of Moving Beyond Modern Portfolio Theory: Investing That Matters.
This episode discusses the background to Jon's new book, the problems of modern portfolio theory and it can be described as Maslow's hammer. We delve into the impact on capital markets caused by institutional investors moving away from the Warren Buffet and Graham and Dodd approach to security analysis to a highly quantitative approach in terms of portfolio construction. We also discuss the risks of moral hazard due to central bank policy and how theory is now being led by empirical evidence in terms of beta activism.
Moving Beyond Modern Portfolio Theory: Investing That Matters is co-authored with Professor James Hawley. He is also the co-author of "What They Do With Your Money: How the Financial System Fails Us and How to Fix It" and “The New Capitalists”.
All views expressed on this podcast are subject to change and do not necessarily reflect the views of Conexus Financial. This podcast is for educational purposes only and should not be relied upon as investment advice.
All views expressed on this podcast are subject to change and do not necessarily reflect the views of Conexus Financial. This podcast is for educational purposes only and should not be relied upon as investment advice.