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In his last role his research has focused on investment decisions, and during 2012 he interviewed 34 fund managers in Istanbul, London, New York and Melbourne. He blends rich understanding of finance theory and practice to unravel the investment industry’s structure and show how banks and other finance institutions privilege themselves at investors’ expense.  The book highlights that finance industry self-regulation is weak. Risks from inexpertise, theft, bad data and other sources are high. Regulation of the industry appears to be ineffectual with the setting of such a high bar that it is virtually impossible to successfully prosecute even the most blatant and egregious offenders.   The book closes with the simple suggestion that corporations’ regulations be altered to introduce the strict liability offence of being a director or officer of a large bank that becomes bankrupt. This follows the strategy of legislation that has been effective in cleaning up the environment, making workplaces safer and reducing crime by punishing those responsible for an offence.","brand":"WoB","offers":[{"title":"US \/ NEW \/ INGRAM","offer_id":51124614922513,"sku":"NIN9781138778993","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52688781639953,"sku":"NLS9781138778993","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/1138778990.jpg?v=1750854870"},{"product_id":"research-in-crisis-book-les-coleman-9780367523985","title":"Research in Crisis","description":"This book explores the weak explanatory and predictive power of theories across disciplines, explains reasons for limited expertise after centuries of scientific effort, and sets forth strategies to accelerate knowledge and manage a future we can only dimly comprehend.  Gaps in knowledge arose because common, natural and artificial phenomena are fundamentally hard to understand, and in expertise persists because research is unproductive. This book argues that weak research comes with huge opportunity cost because it stymies optimum decision making by government, corporations and individuals. Research needs restructuring which must come from governments’ top down requirement that funding bodies foster applied research with real-world impact, and that universities influence scientific publishers to improve their publications’ integrity.  This book seeks to catalyse extinction events for theories in most disciplines, which would clear a path for solving multiple crises in research. The author cautions that this process would be disruptive, unpopular and painful.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51296701219089,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51296704495889,"sku":"NIN9780367523985","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52152179851537,"sku":"NLS9780367523985","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0367523981.jpg?v=1751102699"},{"product_id":"180-grammes-book-les-coleman-9781871539004","title":"180 Grammes","description":null,"brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51716121035025,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":51716121100561,"sku":"GOR014375470","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/1871539005.jpg?v=1750834454"},{"product_id":"why-managers-and-companies-take-risks-book-les-coleman-9783790816952","title":"Why Managers and Companies Take Risks","description":"This book uses risk in its dictionary meaning as the probabiHty of an unde- sirable outcome, and has two research questions: when managers make de- cisions, what leads them to choose a risky alternative? and: what deter- mines whether the decision proves correct? Answers to these questions form a model of decision making that explains the process and results of managers' risk-taking in the real world. There is an extensive literature on risk and decision making because the topic has been of interest in many disciplines since at least the 18   century. Thus insights on the research questions are available from studies of ani- mals, humans and organisations; and have been drawn by scholars in biol- ogy, psychology, finance and management. Even so, there is a large gap as most studies are conducted away from corporate settings and use subjects with limited decision experience. The few studies set in real-world condi- tions tend to concentrate on just a single aspect of decision makers' attrib- utes, setting and behaviour, and on either decision choices or outcomes. The empirical work in this book is designed to fill part of this gap.","brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":52333417005329,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ NEW \/ INGRAM","offer_id":52333417398545,"sku":"NLS9783790816952","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9783790816952.jpg?v=1758154700"},{"product_id":"lunacy-of-modern-finance-theory-and-regulation-book-les-coleman-9781138779006","title":"The Lunacy of Modern Finance Theory and Regulation","description":"This provocative book provides insight into a finance industry that is run for the benefit of banks and service providers who rely on Beatles-era theories and regulation which are totally unsuited to the modern world. 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It does not merely repackage the contemporary investment paradigm, but develops a new perspective that follows a rigorous research philosophy and is based on field evidence.","brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":52484994990353,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ NEW \/ INGRAM","offer_id":52484996268305,"sku":"NLS9781789730647","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9781789730647.jpg?v=1759857083"},{"product_id":"research-in-crisis-book-les-coleman-9780367523978","title":"Research in Crisis","description":"This book explores the weak explanatory and predictive power of theories across disciplines, explains reasons for limited expertise after centuries of scientific effort, and sets forth strategies to accelerate knowledge accretion and to manage a future we can only dimly comprehend.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52521290334481,"sku":"NLS9780367523978","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":53034929520913,"sku":"NIN9780367523978","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780367523978.jpg?v=1760569100"},{"product_id":"applied-investment-theory-book-les-coleman-9783319829531","title":"Applied Investment Theory","description":"Institutions now dominate trading in equities around the world. Mutual funds are the most prominent, and doubly important as custodians of retirement savings. Despite this, there is no comprehensive description of fund manager behaviour, much less a matching theory. This is troubling because one of the most economically significant puzzles in finance is why experienced, well-resourced fund managers cannot outperform the market.  Applied Investment Theory: How Equity Markets Behave, and Why brings together academic research, empirical evidence and real market experience to provide new insights into equity markets and their behaviours. The book draws upon the author’s rich industry experience and academic research, plus over 40 interviews with fund managers on three continents and across different markets. The result is an innovative model that explains the puzzle of poor performance by mutual funds in terms of structural features of markets, the managed investment industry, and the conduct of fund managers.  This book provides a fully integrated depiction of what markets and investors do, and why – insights that will resonate with the needs of investors, wealth managers and industry regulators. It is fully documented, but free of jargon and arcane math, and provides a grounded theory that is relevant to anyone who wants to pierce the opacity of mutual fund operations. Applied Investment Theory sets out a new paradigm in investment that is at the forefront of what should be an industrial-scale development of new finance theory following two decades of almost back-to-back financial crises.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52532540506385,"sku":"NLS9783319829531","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9783319829531.jpg?v=1760661406"}],"url":"https:\/\/www.worldofbooks.com\/collections\/author-books-by-les-coleman.oembed","provider":"World of Books ","version":"1.0","type":"link"}