Treynor On Institutional Investing

A comprehensive collection of Jack L. Treynor's revolutionary insights In 1981, Fischer Black wrote an open letter in the Financial Analysts Journal to Jack Treynor, whose 13-year career as the journal's editor was coming to a close. Black stated without pause that Treynor himself had "developed the capital asset pricing model before anyone else." Treynor's original MIT paper was arguably the first exposition of a model now referred to as the Capital Asset Pricing Model (CAPM), the Nobel award-winning model, which is usually attributed to others. Treynor's tough-minded focus on illuminating what works from what doesn't for serious investors is legendary-and now, it is housed in one volume. From Treynor's seminal presentation of the CAPM at MIT in 1962 to his papers that introduced modern risk and performance measurement to his revolutionary paper on inflation, Treynor on Institutional Investing captures the hard-won investment insights of this man. The book also includes Treynor's more controversial proposals on such topics as trading strategy and stock valuation, drawing on his extensive practical experience in both management consulting and fund management Jack L. Treynor (Palos Verdes Estates, CA) is President of Treynor Capital Management. He isthe author of more than 70 published papers and was the editor of Financial Analysts Journal for many years.