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The Sortino Framework for Constructing Portfolios by Frank A. Sortino

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Chapter 8. The Proper Role of Regulation in Financial Markets
David Hopelain

Executive Summary

David Hopelain explains the difference between risk and danger in financial markets by comparing investing to race car driving. Risk can be managed, but dangerous situations require government intervention.
The previous chapters in this book have advanced new concepts and methods for investment decision making and portfolio management as the next steps in the evolution of financial management. This chapter proposes a framework for understanding the role of the regulators of financial markets. The current financial crisis reveals that the process of regulating decision making in investment markets is essential; however, before undertaking the complex issue ...

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