The theory of capital asset pricing is the core of modern finance theory.

资产定价理论是现代金融理论的核心。

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The efficient market hypothesis is the main cornerstone of modern finance theory.

有效市场理论是现代财务金融学的主要理论基石。

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With the rising of volatility in the stock market, risk management has been the main research area of finance engineering and modern finance theory.

随着金融市场波动性的不断加剧，风险管理逐渐成为金融工程和现代金融理论的核心内容。

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Given the centrality of the EMH to modern finance theory dropping it just for this one instance of reality not according with it might be too extreme.

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Anderson is a must read for anyone who wants to understand the economics and finance of that period, and anyone who, like me, is interested in learning the principles of classical finance, free from the distortions of Keynesianism and Modern Portfolio Theory.

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And although that may seem blindingly obvious to you now that you just read it, the entire edifice of Modern Portfolio Theory is based on ignoring the relationship between economics and finance.

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