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Inform and Deform: Do financial analysts mean what they say?

Publishing house Virtus Interpress introduces a book that describes main practices of the financial analyst activity titled "INFORM AND DEFORM: Do financial analysts mean what they say?".

ISBN 978-966-9686-73-2

Authors: Enrico Maria Cervellati Luca Piras

Published: 2012

Number of pages: 112

Cover: paperback

Synopsis:Information is important, since it is the basic ingredient of human reasoning, knowledge and, therefore, action. Particularly it is important in social behavior. Investing in the financial market is definitely a social behavior, requiring skills and expertise, which combine, generate the “art of market” as William Sharpe said. Information is a complex combination of many parts in which data, frame, language, credibility, metaphors, culture, traditions, and so on, contributes to determine individual and social decision making. Thus understanding market theory imply a profound and critical approach to information, to how it is conveyed to investors, to behavioral drivers that influence professional information providers and related biases and, finally to the way individual investors acquire and use it. The introduction in the discussion of the idea of complexity raises the need to determine the conditions for the system to seek and, eventually, to find its equilibrium. This is the final goal of economic models and theories, while in the real life, disequilibrium and chaos seem to be the rule. If this is the case a useful interpretation tool is represented by entropy. Entropy is a thermodynamic quantity representing the unavailability of a system’s thermal energy for conversion into mechanical work, often interpreted as the degree of disorder or randomness in the system.

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