Resources for SP5

Books

• Asset pricing. Revised edition - Cochrane, J.H. Princeton University Press, 2005. ISBN 9780691121376. 
• The monetary and financial system. 4th ed. Goacher, D. Chartered Institute of Banking, 1999. ISBN 9780852975404. 
• Options, futures and other derivatives. 11th edition, 2021. ISBN 9781292410623
  Access eBook after member login
  • The 11th edition is also suggested reading for subject CM2, and core reading for SP6 and SA7 subjects of the IFoA exam curriculum from 2019.
  • The IFoA Library has other editions of this title.
• Understanding infrastructure investments. Mackay-Fisher, K. CEO Forum Group, 2003.
• Principles of corporate finance: global edition. 12th ed. Brealey, R. A.; Myers, S. C.; Allen, F. - McGraw-Hill, 2016. ISBN: 978-125925331
  • Library holds earlier 11th ed., 2014. ISBN: 978-0077151560 
• A survey of behavioral finance. Barberis, N. and Thaler, R. Handbook of the Economics of Finance, 1B: Financial markets and asset pricing. Chapter 18, 1053-1128. (2003).
  Access eBook after member login

Articles and papers

The following journal articles and papers are cited in 'References' of SP5 Core Reading on theory of finance and behavioural finance. Most are available via the 'JSTOR' links below after member login

• Are investors reluctant to realize their losses? Odean, T. The Journal of Finance (1998) 53(5): 1775-1798.
  https://jstor.org/stable/117424 
• Boys will be boys: gender, overconfidence, and common stock investment. Barber, B.M. and Odean, T. Quarterly Journal of Economics (2001) 116(1): 261-292.
  https://jstor.org/stable/2696449 
• The cross‐section of expected stock returns. Fama, E.F. and French, K.R. The Journal of Finance (1992)  47(2): 427-465.
  https://jstor.org/stable/2329112 -- https://doi.org/10.2307/2329112
• Does the stock market overreact? Bondt, W.F. and Thaler, R. The Journal of Finance (1985) 40(3): 793-805.
  https://jstor.org/stable/2327804 -- https://doi.org/10.2307/2327804
• The end of behavioral finance. Thaler, R.H. Financial Analysts Journal  (1999) 55(6): 12-17.
  https://jstor.org/stable/4480205
• Equity portfolio diversification. Goetzmann, W.N. and Kumar, A. Review of Finance (2008) 12(3): 433-463.
  https://doi.org/10.2139/ssrn.627321
• From efficient markets theory to behavioral finance. Shiller, R.J. The Journal of Economic Perspectives (2003) 17(1): 83-104.
  https://jstor.org/stable/3216841
• Good day sunshine: Stock returns and the weather. Hirshleifer, D. and Shumway, T. The Journal of Finance (2003)  58(3): 1009-1032.
  https://jstor.org/stable/3094570
• Herd behavior in financial markets. Bikhchandani, S. and Sharma, S. IMF Economic Review (2000) 47(3): 279-310.
  https://jstor.org/stable/3867650
• Investor sentiment and the cross‐section of stock returns. Baker, M. and Wurgler, J. The Journal of Finance (2006) 61(4): 1645-1680.
  https://jstor.org/stable/3874723
• Naive diversification strategies in defined contribution saving plans. Benartzi, S. and Thaler, R.H.  American Economic Review (2001) 91(1): 79-98.
  https://doi.org/10.1257/aer.91.1.79
• Noise trader risk in financial markets. De Long, J.B., Shleifer, A., Summers, L.H. and Waldmann, R.J. Journal of Political Economy (1990) 98(4): 703-738.
  https://jstor.org/stable/2937765
• Prospect theory: An analysis of decision under risk. Kahneman, D. and Tversky, A. Econometrica: Journal of the Econometric Society (1979) 47(2): 263-291.
  https://jstor.org/stable/1914185
• Returns to buying winners and selling losers: implications for stock market efficiency. Jegadeesh, N. and Titman, S. The Journal of Finance (1993) 48(1): 65-91.
  https://jstor.org/stable/2328882 -- https://doi.org/10.2307/2328882
• Sentiment and stock prices: the case of aviation disasters. Kaplanski, G. and Levy, H. Journal of Financial Economics  (2010) 95(2): 174-201.
  https://doi.org/10.1016/j.jfineco.2009.10.002
• Sports sentiment and stock returns. Edmans, A., Garcia, D. and Norli, Ø. The Journal of Finance (2007)  62(4): 1967-1998.
  https://www.jstor.org/stable/4622322
• Time series momentum. Moskowitz, T.J., Ooi, Y.H. and Pedersen, L.H. Journal of Financial Economics (2012) 104(2): 228-250.
  https://doi.org/10.1016/j.fineco.2011.11.003
• Trading is hazardous to your wealth: the common stock investment performance of individual investors. Barber, B.M. and Odean, T. The Journal of Finance (2000) 55(2): 773-806.
  

  https://jstor.org/stable/222522

Please contact libraries@actuaries.org.uk  for guidance on access to these online articles.