Banking Books

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Book SynopsisGlen Arnold has deftly crossed the HE/professional/consumer divide and has had success at all levels. He's the author of Corporate Financial Management, now 4th edition; The FT Guide to Value Investing; The Handbook of Corporate Finance; the bestselling The FT Guide to Investing; The Great Investors; Get Started in Shares.Table of Contents Preface Part 1: An Overview Chapter 1 – Introduction to Bond and Money Markets Part 2: Bond Markets Chapter 2 – Government Bonds Chapter 3 – Government Bonds around the World Chapter 4 – Corporate Bonds Chapter 5 – Credit Ratings for Bonds Chapter 6 – High-yield and Hybrid Bonds Chapter 7 – International Bonds Part 3: Money Markets Chapter 8 – Interbank and Euro Currency Chapter 9 – Treasury Bills and Commercial Paper Chapter 10 – Repurchase Agreements and Certificates of Deposit Chapter 11 – Bills of Exchange and Banker’s Acceptances Part 4: Valuing Bonds and Money Market Instruments Chapter 12 – Financial Concepts and Mathematics Chapter 13 – Bond Valuation Chapter 14 – Money Market Securities Valuation Part 5: Some Variations on a Bond Theme Chapter 15 – Securitisation Chapter 16 – Central Banking Influences on Interest Rates

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Book SynopsisNow updated with an extensive afterword that reveals how the bank failures of 2008 resulted from the lack of regulatory oversight discussed in this book, here is the acclaimed insider's account of how financial super predators brought down an industry byTrade Review"This is an extraordinary book... No other account gives a complete picture of the control fraud that occurred in the S & L crisis... There is no one else in the whole world who understands so well exactly how these lootings occurred in all their details and how the changes in government regulations and in statutes in the early 1980s caused this spate of looting... This book will be a classic." George A. Akerlof, University of California, Berkeley, winner of the 2001 Nobel Prize for EconomicsTable of Contents Abbreviations Preface Acknowledgments Chapter 1. Theft by Deception: Control Fraud in the S&L Industry Chapter 2. “Competition in Laxity” Chapter 3. The Most Unlikely of Heroes Chapter 4. Keating’s Unholy War against the Bank Board Chapter 5. The Texas Control Frauds Enlist Jim Wright Chapter 6. “The Faustian Bargain” Chapter 7. The Miracles, the Massacre, and the Speaker’s Fall Chapter 8. M. Danny Wall: “Child of the Senate” Chapter 9. Final Surrender: Wall Takes Up Neville Chamberlain’s Umbrella Chapter 10. It’s the Things You Do Know, But Aren’t So, That Cause Disasters Afterword Appendix A. Keating’s Plan of Attack on Gray and Reregulation Appendix B. Hamstringing the Regulator Appendix C. Get Black ... Kill Him Dead Notes Names and Terms References Index

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Book SynopsisLawyer, judge, banker, classics professor, and councilman, Thomas Mellon greatly influenced the fortunes of his hometown, Pittsburgh, throughout the nineteenth century. Offering characterization of the Scotch-Irish value system that governed the patriarch's work and life, the author captures the judge's complexities and contradictions.Trade Review"A remarkably objective portrait . . . A truly American generational saga, one with profound implications not only for one man's family, but for the entire country as well. Specialists and students of American history will benefit enormously from this splendidly written and researched work. Highly recommended."—Richard Drezen, Library Journal -- Richard Drezen * Library Journal *“A well-researched biography that could go far to help people better understand the family patriarch.”—The Weekly Standard * The Weekly Standard *"[Mellon's] well-written autobiography, completed in 1885 and republished in 1994, provides valuable insights into his entrepreneurial activities, notes his emphasis on education and family, and contains judgmental commentary on controversial issues of his day."—R.M. Hyser, Choice -- R.M. Hyser * Choice *“Valuable…Highly recommended.”—Choice * Choice *

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Book SynopsisIn spite of its key role in creating the ruinous financial crisis of 2008, the American banking industry has grown bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks whose assets amount to more than 60 percent of the country’s gross domestic product, this oligarchy proved it could first hold the global economy hostage and then use its political muscle to fight off meaningful reform. 13 Bankers brilliantly charts the rise to power of the financial sector and forcefully argues that we must break up the big banks if we want to avoid future financial catastrophes.  Updated, with additional analysis of the government’s recent attempt to reform the banking industry, this is a timely and expert account of our troubled political economy.

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Book SynopsisThe intimate, fly-on-the wall tale of the decline and fall of an America icon With one notable exception, the firms that make up what we know as Wall Street have always been part of an inbred, insular culture that most people only vaguely understand. The exception was Merrill Lynch, a firm that revolutionized the stock market by bringing Wall Street to Main Street, setting up offices in far-flung cities and towns long ignored by the giants of finance. With its “thundering herd” of financial advisers, perhaps no other business, whether in financial services or elsewhere, so epitomized the American spirit. Merrill Lynch was not only “bullish on America,” it was a big reason why so many average Americans were able to grow wealthy by investing in the stock market. Merrill Lynch was an icon. Its sudden decline, collapse, and sale to Bank of America was a shock. How did it happen? Why did it happen? And what does this story of greed, h

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Book SynopsisThis accessible and comprehensive survey of phonetic theory is an ideal introduction to phonetics for undergraduates approaching the subject for the very first time.Trade Review'This volume is an excellent introduction into the field of phonetics. It presents an impressive account of the articulatory, acoustic and perceptual aspects of human speech sounds. What makes this book especially useful are the various exercises in the chapters, and the addition of online audio materials to let readers develop their practical skills with ear-training exercises'. Marc Swerts, Professor of Communication and Information Sciences, Tilburg University, The Netherlands'the comprehensive content with clear explanations make[s] it a tool that students can use with confidence. It is remarkable in its potential to facilitate connections across the breadth of phonetics, providing excellent foundations for the reader's future career as a phonetician.'Times Higher EducationTable of ContentsPrefaceAcknowledgementsSymbols for transcribing EnglishIPA chart1. Starting phonetics2. The role of the larynx3. Place of articulation4. Manner of articulation5. Airstream mechanisms6. Describing vowels7. Further parameters of variation in vowels8. Further parameters of variation in consonants9. Connected speech - segment dynamics10. Beyond the segmentAnswers to exercisesBibliographyIndex

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Book SynopsisThis book investigates the legitimacy of the current Australian Financial Services Licensee-Authorised Representative (AFSL-AR) licensing model, as specified in the Commonwealth Corporations Act 2001.The book rectifies the deficiency in scholarly attention to this matter by developing a new conceptualised framework for the financial planning discipline. It takes into account theories in agency, legislation, legitimacy and the independent individual regulatory regimes in other professions; thereafter integrating this framework with the financial planning theory to examine the legitimacy, or what was found to be the illegitimacy of licensing advisers via multiple third party conflicted commercially oriented licensees.This book makes a very useful reference to understanding financial planning licencing model in Australia.Table of Contents1. Introduction 2. International Trends in Financial Adviser Regulation 3. Legitimacy of Current Licensee-Adviser Licensing for Australian Financial Advisers 4. Research Paradigm, Methodology and SEM Design 5. Contextualising Current Licensing of Financial Advisers: Preliminary Analysis using Confirmatory Factor Analysis 6. Empirical Analysis of the Current AFSL-AR Licensing Regime and the Existing Licensee-Adviser Relationship 7. Conclusion

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Book SynopsisIndonesia is the most populous Muslim country in the world. Taking into account also its endowment and potential economic resources, the Islamic banking industry in Indonesia was expected to take on an important role in facilitating more financial resources and to contribute to the internationalization of the Islamic mode of financing particularly in the Asia-Pacific region. However, the reality is far from the expectation. This book aims to clarify the causes and fundamental constraints leading to the extraordinarily low level of Indonesia's Islamic financial deepening.The authors draw on the traditions of Institutional Economics which are concerned with the rules or mechanisms of creating the ''incentive'' and ''threat'' for economic players because the rules (institutions) would matter as the determinant for economic development and economic efficiency. This book offers a fairly new analytical lens by hypothesizing that Islamic banks must earn additional profit the authorsTrade Review"This important book assesses the factors affecting the growth of Indonesia’s Islamic banking sector from 2004 to 2018. Even though there is much research published in academic journals addressing this issue, the book incorporates various aspects, such as eco- nomics, finance, society, politics, government, and Sharia (religion). In addition, it compares the development and growth of Indonesia’s Islamic banking sector with that of Malaysia, Indonesia’s closest neighbor and the most developed in the field. It also investigates Asian banks more widely to gain a broader perspective.Finally, this book is highly recommended for regulators, market players, customers, suppliers, depositors, and all stakeholders because it delivers very important assessments and results on factors affecting the slower growth of Islamic banking in Indonesia. Despite some limitations in its scope and analysis, the book is quite comprehensive in answering the two puzzles noted earlier, from both economic and noneconomic perspec- tives, and both locally and internationally. International Islamic finance stakeholders can also benefit from the book, especially from its assessment of Malaysian, Bangladeshi, and other Asian banks." The Developing Economies, Volum 59, Issue 2, June 2020Table of Contents1 Introduction 2 Indonesia’s Islamic banking: Shari’ah implementation, genesis, and socio-political context 3 Recent development of Indonesia’s Islamic banking: The economic realities 4 Theoretical background and review of related literature 5 Comparative study of Islamic banking regulation frameworks in Indonesia and Malaysia 6 Analyses of financial performance and stability of Asian Islamic banks 7 Analyses of the dynamic concentration and competition level of the Islamic banking sector in Indonesia 8 Comparative analysis of the operational efficiency of conventional and Islamic banks 9 Structural dilemma of Indonesia’s Islamic banking 10 A hypothesis of explaining the low penetration of Indonesia’s Islamic banks; Shari’ah-compliant benchmark and Shari’ah-based 'raf' al-haraj' benchmark on prohibition of riba 11 Epilogue – A Quarter-century journey of Islamic banking development in Indonesia: A revisited

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The financial crisis has exposed severe shortcomings in mainstream monetary economics and modern finance. It is surprising that these shortcomings have not led to a wider debate about the need to overhaul these theories. Instead, mainstream economists have closed ranks to defend existing theories and public authorities have expanded their interference in markets.This book investigates the problems associated with mainstream monetary economics and finance, and proposes alternatives based on the Austrian school of economics. This school emanated from the work of the nineteenth-century Austrian economist Carl Menger and was developed further by Eugen von BÃhm-Bawerk, Ludwig von Mises, and Friedrich August von Hayek. In monetary economics, the Austrian school regards the creation of money by banks through credit extension as a key source of economic instability. From this follows the need for a comprehensive reform of our present monetary system. In a new monetary order, m

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Book Synopsis“If [The End of Alchemy] gets the attention it deserves, it might just save the world.” —Michael Lewis, Bloomberg ViewTrade Review"An outstandingly lucid account of postwar economic policymaking and the dilemmas we now face. . . . It is rare to encounter a book on economics quite as intellectually exhilarating as The End of Alchemy—a dazzling performance indeed." -- John Plender - Financial Times"I have read umpteen books about the financial crisis of 2007–2008 and its lessons. This is the cleverest one, brimming over with new ideas. While other ‘lords of finance’ publish memoirs, King has produced a brilliant analysis not only of what went wrong in the global financial system but also of what went wrong in economics itself." -- Niall Ferguson"A sophisticated and highly approachable study of how modern finance has lost its way. Few individuals are more qualified than Lord Mervyn King to imagine the banking of the future. His book should be required reading." -- Henry Kissinger"Mervyn King asks, ‘Why has almost every industrialized country found it difficult to overcome the stagnation that followed the financial crisis in 2007–2008, and why did money and banking, the alchemists of a market economy, turn into its Achilles heel?’ He addresses these questions, and much more. For those endeavoring to understand the greatest financial crisis of our time and the future of finance, this highly provocative book is a must-read." -- Alan Greenspan"Drawing on years of scholarly study of banking history and his real world experience in fighting financial panic, Mervyn King has set out a new framework for monetary and financial reform. Seemingly simple in concept, it challenges prevailing banking and market practice. The End of Alchemy demands debate and a well-reasoned response." -- Paul A. Volcker

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Book SynopsisThe best-selling author of Naked Statistics takes us on a romp through the colourful world of monetary policy and history.

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Book SynopsisThe definitive biography of a banker, essayist and editor of the Economist, by an acclaimed financial historian.Trade Review"The most perceptive and brilliant economic and political writer of his time deserves a biographer of equal literary merit. In James Grant, Walter Bagehot has found him." -- Mervyn King, former governor of the Bank of England and author of The End of Alchemy"James Grant [is] one of the most influential contemporary commentators on Wall Street... in Grant’s hands, Bagehot’s life and career provide a superb prism through which to observe the extraordinary revolution in the British economy during the 19th century." -- Simon Nixon - The Times"The book makes a convincing case that Bagehot deserves credit for being a progenitor of a wider political tradition..." -- Moneyweek"A gem of a book: entertaining, wry, and gloriously eccentric." -- Sebastian Mallaby - Foreign Affairs"... excellent... biography" -- Benjamin Schwarz - The International New York Times"... engaging new biography of Bagehot... In this very enjoyable book, Grant demonstrates that he has the measure of a fascinating—and great—Victorian. " -- Financial Times"... his [James Grant's] book is excellent—built on a lot of study (including time in the archives) and written in a gripping style. Mr Grant is at his best when writing about Bagehot’s financial journalism and indeed his career as a banker. His accounts of the collapse of Overend Gurney, supposedly the Rock of Gibraltar of Victorian finance, and of “Lombard Street”, Bagehot’s book about that debacle, are exemplary." -- The Economist

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Book SynopsisA timely, counterintuitive defense of Wall Street and the big banks as the invisible—albeit flawed—engines that power our ideas, and should be made to work better for all of us Maybe you think the banks should be broken up and the bankers should be held accountable for the financial crisis in 2008. Maybe you hate the greed of Wall Street but know that it’s important to the proper functioning of the world economy. Maybe you don’t really understand Wall Street, and phrases such as “credit default swap” make your eyes glaze over. Maybe you are utterly confused by the fact that after attacking Wall Street mercilessly during his campaign, Donald Trump has surrounded himself with Wall Street veterans. But if you like your smart phone or your widescreen TV, your car or your morning bacon, your pension or your 401(k), then—whether you know it or not—you are a fan of Wall Street. William D. Cohan is no knee-jerk advocate for

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Book SynopsisIt is almost universally agreed that banks are of central importance for economic growth, the efficient allocation of capital, financial stability, and the competitiveness and development of manufacturing and service sectors. And, at least in recent decades, it has also widely been believed that high-performing banks, supported by state-of-the-art risk-management capabilities, and light-touch, market-based regulation would allow plentiful finance for investment, leading to economic growth. However, since 2007, as the global financial system has endured extreme turbulenceâwith banks suffering stomach-churning losses, necessitating unbelievable bailouts by national governmentsâthis orthodoxy has been roundly challenged. Academics and policymakers alike have been forced fundamentally to re-examine the scale, scope, governance, performance, as well as the safety and soundness, of financial institutions.The necessity for such urgent reassessments underscores the timeliness of this new Major Work collection from Routledge. It meets the need for an authoritative reference work to map the existing scholarly corpus, and to make sense of the continuing explosion in research output. Edited by John O. S. Wilson, a leading scholar, Banking is a five-volume collection which brings together the very best foundational and cutting-edge contributions to the field.The collection is divided into four principal parts. Part 1 is dedicated to âThe Theory and Business of Bankingâ. The second part deals with âThe Industrial Organization of Bankingâ, while Part 3 explores âDeregulation, Regulation, Supervision, and Crisesâ. The final part of the collection brings together the best scholarship and other useful materials on âBanks and the Macro economyâ.The collection is fully indexed. It also includes comprehensive introductions and overviews to each principal part, newly written by the editor, which place the material in its intellectual and historical context. It is an essential work of reference and is destined to be valued by users as a vital one-stop research resource.

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Book SynopsisTrade Review"Thirteen papers explore advances made in the past fifteen years in understanding the extent, causes, and consequences of inequality." --Journal of Economic Literature, Handbook of Income Distribution, Vol 2A "The literature on income distribution has undergone transformative change in the decade and a half since the first Handbook appeared. These timely new volumes by recognized scholars provide a comprehensive review of our current state of understanding and the challenges that inequality poses." --Robin Boadway, Queens University "Few issues are more topical, in both the academic and policy debates, than the distribution of income and wealth. This handbook takes the reader to the frontier of all aspects of these debates: its superb contributions, by the foremost experts in the field, cover historical developments, data issues, statistical methods, theoretical approaches, and policy implications. A must for academics and interested general readers alike." --Roberto Perotti, Università Bocconi "The increase in inequality is a pressing problem. Too often it is addressed with uninformed, oversimplified ideological slogans. If you want to go beyond those and really learn about this complicated topic, this is the essential and most complete book to read. A gem." --Alberto Alesina, Harvard University "In every academic discipline, fads come and fads go. But in economics the very core of our subject is the study of the distribution of income and well-being across the population. From this analysis stems all our best theories and our best empirical research. This Handbook distills that wisdom and presents the latest findings by those who happen to be giants in our discipline. Its chapters will provide the platform from which will emerge the most exciting and important research for decades to come." --Danny Quah, London School of EconomicsTable of ContentsPart I: Concepts and approaches 1. Income distribution in the history of economic thought Agnar Sandmo 2. Inequality, income and well-being Marc Fleurbaey, Erik Schokkaert and Koen Decancq 3. Multi-dimensional inequality and poverty Andrea Brandolini and Rolf Aaberge 4. Equality of opportunity John E. Roemer and Alain Trannoy 5. Polarization Jean-Yves Duclos 6. Statistical methods for distributional analysis Frank Cowell and Emmanuel Flachaire Part II Evidence 7. Long-run trends in the distribution of income and wealth Daniel Waldenstrom and Jesper Roine 8. Post-1970 trends in within-country inequality and poverty Timothy Michael Smeeding, Jeffrey Thompson and Salvatore Morelli 9. Post-1970 trends in inequality and poverty in developing and emerging countries Facundo Alvaredo and Leonardo Gasparini 10. Income mobility Markus Jantti and Stephen Jenkins 11. The Global distribution of income Sudhir Anand and Paul Segal 12. Gender inequality Dominique Meurs and Sophie Ponthieux 13. Experimental and survey evidence about attitudes to inequality Andrew Clark and Conchita d'Ambrosio

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Book SynopsisRon Paul--the Texas Congressman, Presidential candidate, and #1 New York Times bestselling author--returns with another provocative and controversial treatise that argues we cannot actually fix the broken economy without discussing the 800-lb gorilla in the room: the Federal Reserve.

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Book SynopsisThroughout banking, mathematical techniques are used. Some of these are within software products or models; mathematicians use others to analyse data. The current literature on the subject is either very basic or very advanced.Table of ContentsIntroduction. 1 Introduction to How to Display Data and the Scatter Plot. 2 Bar Charts. 3 Histograms. 4 Probability Theory. 5 Standard Terms in Statistics. 6 Sampling. 7 Probability Distribution Functions. 8 Normal Distribution. 9 Comparison of the Means, Sample Sizes and Hypothesis Testing. 10 Comparison of Variances. 11 Chi-squared Goodness of Fit Test. 12 Analysis of Paired Data. 13 Linear Regression. 14 Analysis of Variance. 15 Design and Approach to the Analysis of Data. 16 Linear Programming: Graphical Method. 17 Linear Programming: Simplex Method. 18 Transport Problems. 19 Dynamic Programming. 20 Decision Theory. 21 Inventory and Stock Control. 22 Simulation: Monte Carlo Methods. 23 Reliability: Obsolescence. 24 Project Evaluation. 25 Risk and Uncertainty. 26 Time Series Analysis. 27 Reliability. 28 Value at Risk. 29 Sensitivity Analysis. 30 Scenario Analysis. 31 An Introduction to Neural Networks. Appendix Mathematical Symbols and Notation. Index.

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Book SynopsisLooks at the theory and practice of modern banking, and at the prospects for the future. This text is devoted to micro issues of banking, including competition, structure, performance, risk, and regulation.Table of ContentsACKNOWLEDGEMENTS. PREFACE. CHAPTER 1: What are Banks and What Do They Do? 1.1 Introduction. 1.2 The Meaning of Banking. 1.3 Organisational Structures. 1.4 Banking Structures. 1.5 Financial Conglomerates. 1.6 Central Banking. 1.7 Summary: Why are Banks Special? 1.8 Conclusion. CHAPTER 2: Diversification of Banking Activities. 2.1 Introduction. 2.2 The Expansion of Banks into Non-banking Financial Services. 2.3 The Effect of Non-interest Income on Banks’ Total Income. 2.4 Global Markets and Centres. 2.5 International Banking. 2.6 Banking Issues in the 21st Century. 2.7 Conclusion. CHAPTER 3: Management of Risks in Banking. 3.1 Introduction. 3.2 Key Financial Risks in the 21st Century. 3.3 Approaches to the Management of Financial Risks. 3.4 Financial Derivatives and Risk Management. 3.5 Management of Market Risk. 3.6 Management of Credit Risk. 3.7 Risk Management by Major Global Bank. 3.8 Conclusion. CHAPTER 4: Global Regulation of Banks. 4.1 Introduction. 4.2 Why Regulate? 4.3 International Regulation. 4.4 Basel 2 – The Three Pillar Approach. 4.5 Alternative or Complementary Approaches to Basel. 4.6 International Financial Architecture. 4.7 Conclusion. CHAPTER 5: Bank Structure and Regulation: UK, USA, Japan, EU. 5.1 Introduction. 5.2 Bank Structure and Regulation in the UK. 5.3 Bank Structure and Regulation in the USA. 5.4 Bank Structure and Regulation in Japan. 5.5 Bank Structure and Regulation in the EU. 5.6 Conclusions: Structure and Regulation of Banks. CHAPTER 6: Banking in Emerging Economies. 6.1 Introduction. 6.2 Financial Repression and Evolving Financial Systems. 6.3 Banking Reforms in Russia, China and India. 6.4 Islamic Banking. 6.5 Sovereign and Political Risk Analysis. 6.6 Conclusion. CHAPTER 7: Bank Failures. 7.1 Introduction. 7.2 Bank Failure – Definitions. 7.3 Case Studies on Bank Failure. 7.4 The Determinants of Bank Failure: A Qualitative Review. 7.5 Bank Failure: Quantitative Models. 7.6 Conclusion. CHAPTER 8: Financial Crises. 8.1 Introduction. 8.2 Definitions and Controversies. 8.3 The South East Asian Financial Crisis, 1997–99. 8.4 The Japanese Banking Crisis. 8.5 Scandinavian Banking Crises. 8.6 Long Term Capital Management (LTCM). 8.7 Lender of Last Resort. 8.8 Conclusions. Appendix 8.1 Japanese Financial Reforms (Big Bang, 1996). Appendix 8.2 Reform of the Regulators. CHAPTER 9: Competitive Issues in Banking. 9.1 Introduction. 9.2 Measuring Bank Output. 9.3 X-efficiency, Scale Economies and Scope Economies. 9.4 Empirical Models of Competition in Banking. 9.5 Consolidation in the Banking Sector. 9.6 Conclusion. CHAPTER 10: Case Studies. 10.1 Introduction. 10.2 Goldman Sachs. Appendix. 10.3 Kidder Peabody Group. 10.4 From Sakura to Sumitomo Mitsui Financial Group. 10.5 Bancomer: A Study of an Emerging Market Bank. 10.6 Credit Lyonnais. 10.7 Continental Illinois Bank and Trust Company. 10.8 Bankers Trust: From a Commercial/Investment Bank to Takeover by Deutsche Bank. REFERENCES/BIBLIOGRAPHY. INDEX.

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Book SynopsisAn inside look at what it really takes to become a better trader A proprietary trading firm consists of a group of professionals who trade the capital of the firm. Their income and livelihood is generated solely from their ability to take profits consistently out of the markets.Table of ContentsPreface vii Acknowledgments xi Part I Inside a Prop Trading Firm 1 Chapter 1 These Guys Are Good 3 Chapter 2 One Good Trade 31 Chapter 3 A Good Fit 53 Part II Tools of Success 83 Chapter 4 Pyramid of Success 85 Chapter 5 Why Traders Fail 117 Chapter 6 Live to Play Another Day 141 Part III Getting Technical 163 Chapter 7 Stocks In Play 165 Chapter 8 Reading the Tape 193 Chapter 9 Maximizing Your Profits with Scoring 223 Part IV The Trader’s Brain 249 Chapter 10 Trader Education 251 Chapter 11 The Best Teacher 285 Chapter 12 Adapt to the Markets 305 Chapter 13 The Successful Trader 335 Bibliography 339 About the Author 347 Index 349

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Book SynopsisIn order to operate their lending business profitably, banks must know all the costs involved in granting loans. In particular, all the expenses they incur in covering losses must be included. Provided loan risks can be calculated, it is possible in each case to charge a price that is appropriately adjusted for risk, thus making it possible to make high-risk loans. In Risk-adjusted Lending Conditions the author presents a model, to measure and calculate loan risks, showing how it functions and how it may be applied. His approach has its origins in the ideas put forward by Black/Scholes in 1973, and thus owes much to option price theory. From this the author has succeeded in developing a solution such that, whatever a company''s debt position and however its balance sheet may be structured, any situation can be individually assessed. Building on this, he demonstrates how combinations of loans with the lowest possible interest costs can be tailor-made for any company. The boTable of ContentsPreface 1. Preface 2. Part I: Outline. Introduction. Rating system. Part II: Mathematical Foundations of the Model. Probability model: Development of ψj. Calculation of the shortfall risk hedging rate in the special case of shortfall risks being constant. Calculation of the shortfall risk hedging rate in the general case of variable shortfall risk. Shortfall risk on uncovered loans on the basis of statistics. Part III: Option-Theory Loan Risk Model. Shortfall risk on uncovered loans to companies on the basis of an option-theory approach. Loans covered against shortfall risk. Calculation of the combination of loans with the lowest interest costs. Part IV: Implementation in practice. Procedure – according to the model – for assessing the risk in lending to a company. Applications. Final considerations. Appendix 1: Notation. Appendix 2: Excel worksheet. Appendix 3: Property price index. Appendix 4: Chapter 3 – Derivations. Appendix 5: Chapter 4 – Derivations. Appendix 6: Chapter 5 – Derivations. Bibliography. Index.

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Book SynopsisAn insider''s view of the investment banking world from someone who is actually shaping it Powerful, controversial and determined, Thomas Weisel is known for his unwavering focus on winning the race, whether he is competing in a national cycling championship, sponsoring Tour de France winner Lance Armstrong or negotiating with business competitors. For twenty-seven years he ran one of the major investment banks on the West Coast, bringing public companies such as Applied Materials, Siebel Systems and Yahoo! and was instrumental in establishing San Francisco as an alternative financial center to Wall Street. In 1997 he sold his company to NationsBank, which later merged with Bank of America. Unhappy with his treatment after the merger, Weisel trumped Bank of America by negotiating a separation package that included $500 million in stock options and the ability to hire away crucial Bank of America management. Within two years, the investment bank he started, Thomas Weisel PartTrade ReviewSan Francisco investment boutique Thomas Weisel Partners just offloaded another 100 employees (spurring more rumors the firm will be sold), but its 62-year-old founder is busy charging up other hills. Weisel, a renowned cyclist, has been promoting his new autobiography, Capital Instincts: Life as an Entrepreneur, Financier, and Athlete, and doling out the tome to clients. The book isn't exactly flying off the shelves (Amazon rank: 9,136), but it's packed with testosterone-charged tales of Weisel's athletic, business, and art-collecting exploits--including his recent $40 million sale of abstract impressionist art. Chapter 1: "Never Underestimate Thom Weisel." (Fortune Magazine, March 31,2003)Table of ContentsForeword. Acknowledgments. Introduction. Never Underestimate Thom Weisel. Life on the Edge of a Precipice. Of Midget Boys and Men. Breaking Away. A Goof Place to Be. Passion Is Good. Skiing, Cycling, Selling Stocks. Postal Services. The Buildup. Politics and Art. The Big Sale. The Big Boom. Conflicted. The New Age and Old Age. Endnotes. Timeline. Index.

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Book SynopsisThis comprehensive new book explains and clarifies the essential building blocks underlying the pricing and risk analysis of fixed-income securities and derivatives - using mathematics lightly, to make things easier, not harder. The emphasis throughout is on how-to-do, on building operational knowledge from the ground up.Table of ContentsPartial table of contents: SHORT-TERM MONEY MARKET INSTRUMENTS. Background and Terminology. Interest, Discount, Compounded Yield. Foreign-Exchange Transactions. LONG-TERM SECURITIES, FUTURES, AND SWAPS. Zero-Coupon Bonds. Fixed- Interest Coupon Bonds. Futures on Bonds and Notes. OPTIONS. An Introduction to Options. Fixed-Income Options, Bonds with Optionlike Features. Modeling the Yield Curve. Selected Bibliography. Index.

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Book SynopsisPraise for J.K. Lasser Pro Expert Financial Planning "A gem of a personal financial planning guide. Dr. Arffa has prepared many of the chapters himself and his highly readable and accessible overviews are presented with grace and clarity. Included also are discussions by industry professionals and leading investment thinkers.Table of ContentsAbout the Contributors. Preface. TAKING CONTROL. Developing a Financial Plan (J. Meredith & R. Arffa). Achieving Financial Security (S. Arffa & R. Arffa). INVESTING-- GENERAL. Investment Vehicles: Description and Historic Performance (R. Arffa). Earning Interest on Cash (J. Mueller). STOCK SELECTION. Fundamental Stock Analysis (R. Arffa). Growth Investing (R. Driehaus). Value Investing: A Philosophy for Life (D. Winters). Other Stock Selection Strategies (R. Arffa). The Efficient Markets Hypothesis (J. Clarke, et al.). MUTUAL FUNDS. Stock Mutual Funds (R. Arffa). Index Funds and Managed Funds: Echoes of Archilochus (J. Bogle). Evaluating Mutual Fund Performance (E. Fama & W. Wellington). When to Sell Your Fund (R. Arffa). Guidance Gleaned from the Gurus (P. Tanous). International Investing (R. Arffa). Hedge Funds (L. Hennessee & C. Gradante). OTHER INVESTMENTS. Private Investment Management (L. Blonkvist). The Impact of Taxes and Other Costs on Total Returns (L. Swedroe). Debt in the U.S. Capital Markets (G. Guild). Real Estate Investment Trusts (R. Deckey). Venture Capital (D. Hillman). Asset Allocation (G. Curtis). FINANCIAL PLANNING. Retirement Planning (G. Weinstein & B. Newman). Estate Planning (H. Apolinsky). Insurance (P. Katt). Glossary. Index.

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Book SynopsisFocusing on the structuring and practical applications of derivatives, this book introduces the reader to a flexible approach, emphasizing 'financial architecture'. It explains the reasons why derivatives exist and why there is such a large variety.Trade Review"...there is no question that many industry participants will learn from and enjoy reading his book." (Risk, March 2002)Table of ContentsPreface. The General Framework. Stocks and Stock Market Indices. Special Contract Features. Index-Linked Cash Flows. Pricing and Hedging. Improved Efficiency. Risk Management. Reducing the Costs of Buying Options. Equity-Linked Bull Notes. Raising the Participation Rate. Market Timing and Non-Bullish Views. Digital and Coupon Bearing Notes. Equity-Linked Saving. Appendix A. Appendix B. Appendix C. Bibliography. Index.

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Book SynopsisHaving spent 38 years in banking, including 21 as a CEO, the author believes that marketing is the foundation of the banking business and the key to its survival. Profound changes have occurred in the use and influence of marketing in the banking industry. Contains the best marketing ideas for financial institutions in the 1990''s, developed by some of the top and most respected marketers in banking.Table of ContentsThe New World of Banking. Marketing for Survival and Progress. 55 Ideas from Some of Banking's Best Marketers. Removing the Barriers to Good Marketing. Keep Looking for Great Ideas. Index.

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Book SynopsisPresents a complete introduction to modern exchange markets and what to know in order to operate them effectively using trading systems, computer-based models and other analytical tools. Contains an in-depth explanation of the emerging structure of new international financial markets including insights into current electronic and global markets.Table of ContentsThe New World of Treasury Functions. The Treasurer's Responsibility for Risk Management. Problems in Risk Control: How the Japanese Face theChallenge. Transacting Foreign Exchange Deals. Foreign Exchange Operations. Swaps, Hedging, Bond Dealing, and Currency Management. Dealing in Currencies. West European Currency, Political Union, and the FinancialInfrastructure. The ECU, the German Mark, and the Dollar. Economic Planning and the East European Transformation. Commodities and Futures Trading. Dealing in Options. Arbitrage, Spread Management, and Gap Analysis. A Financial Advisor System Project. Looking Forward: Treasury Operations in the Year 2000. Index.

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Book SynopsisTrade Review"Gerald Epstein has done something that has needed doing since 2008 -- he has written a book that explains our complex, captured financial system to the lay reader. In simple, clear prose, he outlines why we are still fighting financial fires, and what we can do to bridge the Wall Street-Main Street divide. A wonderful way to understand how finance became the tail that wags the dog of our economy. " -- Rana Foroohar, Associate Editor, Financial Times"In this incisive chronicle, Epstein (The Political Economy of Central Banking) . . . surveys how deregulating banking turned the financial institutions into engines of inequality and liabilities to the economy. . . . Epstein’s skill in describing financial matters plainly is a boon. Epstein convinces with this potent plan for ending the era of 'too big to fail.'” * Publishers Weekly *"A cleareyed view of the financial system’s woes, all addressable if only the political and economic will is there." * Kirkus Reviews *"Clear-eyed and hopeful, Busting the Bankers' Club centers the individuals and groups fighting for a financial system that will better serve the needs of the marginalized and support important transitions to a greener, fairer economy. . . . [the book] is an extraordinary and timely study that will have immense value to readers with an interest in the relationship of banks, the U.S. economy, and the methods used by the banking industry to influence governmental policy makers. Exceptionally well written, organized and presented." * Midwest Book Review *"Exposes the banking cartel that has hijacked U.S. democracy." * Wall Street On Parade *Table of ContentsContents Acknowledgments Preface Abbreviations SECTION I FROM BORING TO ROARING BANKING 1. The Jekyll and Hyde of Finance 2. Boring Banking and the “Golden Age” of Capitalism 3. Roaring Banking: The World the Bankers Made 4. Are Bankers Essential Workers? SECTION II THE BANKERS' CLUB AND THE POWER OF FINANCE 5. The Anatomy of the Bankers’ Club 6. Lobbyists and Politicians versus the Club Busters 7. The Federal Reserve: Chairman of the Club 8. Financial Regulators and Their Lawyers 9. Nonfinancials Flip: The Financialization of the CEOs 10. Bankers’ Club Economics SECTION III FINANCE FOR THE REST OF US 11. Financial Regulation for All 12. Banks without Bankers: Finance to Meet Social Needs 13. Busting the Bankers’ Club and Restoring Democracy Appendix: The Bankers’ Club Assault on the New Deal Regulatory Structure Notes References Index

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Book SynopsisCity Bankers, 1890â1914 is a major contribution to a controversial area of economic history and to the debate about the nature of British society in the late Victorian and Edwardian eras. Translated here into English for the first time, it provides a detailed analysis of the banking community of London between 1890 and 1914 when the City of London was the undisputed financial centre of the world. Attention is paid to the social origins, education, careers , business interests and fortunes of its members, to the networks of relationships of its most important dynasties, as well as to the political influence of the world of banking. The analysis is based on a sample of 460 bankers at the heart of international finance and the author has used a wide range of banking archives and private papers. Business historians and economists will welcome this comprehensive study of a most important group of capitalists at the junction of the business world and aristocratic society in the Edwardian ageTrade Review"Among late-Victorian institutions, few can match the City of London either in its claim to historical importance or its lack of solid documentation. Youssef Cassis's newly translated City Bankers provides English-speaking historians with an important first step towards understanding what made the City tick....This is a welcome translation and an important book." Victorian StudiesTable of ContentsIntroduction to the English Edition; Introduction; 1. Banks and bankers; 2. Paths to banking; 3. The banking profession; 4. Financial interests and commitments; 5. Banks' profits, bankers' fortunes; 6. Marriages and dynasties; 7. The aristocratic way of life; 8. Finance and politics; Conclusion; Sources and bibliography; Index.

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Book SynopsisThis book looks back at the historical experience of central bank cooperation in the western world since the late nineteenth century. It provides a systematic analysis of the nature and characteristics of this form of co-operation and offers a global perspective on what its future might look like.Trade ReviewReview of the hardback: 'Central banks play as central a role in economic welfare and financial stability today as they have ever played. And globalization makes cooperation among monetary and financial authorities even more crucial than before. This volume throws valuable new light on the way cooperation has been conducted in the past and on some of the key issues that will confront central bank collaboration in the future.' Sir Andrew Crockett, President, JP Morgan Chase InternationalReview of the hardback: 'This clear and well researched book on 130 years of central bank cooperation will be a unique tool for historians and economists. It doesn't discuss the desirability of cooperation but it explains how it worked (or, in some cases, did not work).' Jacques de Larosière, Former President, European Bank for Reconstruction and DevelopmentReview of the hardback: 'It offers a valuable insight into the world of central bank cooperation, both past and future, and how the past is shaping the future.' Journal of Financial History ReviewTable of ContentsIntroduction: past and future of central bank co-operation Piet Clement; 1. One hundred and thirty years of central bank cooperation: a BIS perspective Claudio Borio and Gianni Toniolo; 2. Almost a century of central bank cooperation Richard N. Cooper; 3. Architects of stability? International co-operation among financial supervisors Ethan B. Kapstein; 4. Central banks, governments and the European monetary unification process Alexandre Lamfalussy; 5. The future of central bank cooperation Beth Simmons; 6. Interdependence and co-operation: an endangered pair? Tommaso Padoa-Schioppa.

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Book SynopsisThis book, first published in 1994, explores the important role that insider lending played in the economic development of early nineteenth-century New England. Ironically, when banks began to lend more and more of their funds at arm's length, information problems forced them to restrict their activities to short-term commercial lending.Trade Review'This is an important book which explores the evolution of bank lending strategies during the industrialisation of New England.' Mary B. Rose, Business HistoryTable of ContentsAcknowledgements; Introduction; 1. Vehicles for accumulating capital; 2. Insider lending and Jacksonian hostility towards banks; 3. Engines of economic development; 4. The decline of insider lending and the problem of determining creditworthiness; 5. Professionalization and specialization; 6. The merger movement in banking; Conclusion.

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Book SynopsisCentral banks in Great Britain and the United States arose early in the financial revolution. The Bank of England was created in 1694 while the first Banks of the United States appeared in 1791â1811 and 1816â36, and were followed by the Independent Treasury, 1846â1914. These institutions, together with the Suffolk Bank and the New York Clearing House, exercised important central banking function before the creation of the Federal Reserve System in 1913. In this 2005 book, significant monetary changes in the lives of these British and American institutions are examined within a framework that deals with the knowledge and behavior of central bankers and their interactions with economists and politicians. Central bankers' behavior has shown considerable continuity in the influence of incentives and their interest in the stability of the financial markets.Trade Review'The forces and personalities shaping the development of central banking are carefully detailed in this excellent and readable book on central banking in the United States and Great Britain.' Lee Hoskins, Former President, Federal Reserve Bank of Cleveland'The book is an ambitious and successful undertaking. It should be required reading for anyone concerned with monetary institutions and the battle between rules and discretion in policymaking. John H. Wood makes clear that the conflicts between rules and discretion will continue, and through his deft historical analysis he reminds us that the choices we make today will have important consequences for the future.' Edward Prescott, Nobel Laureate, Federal Reserve Bank of Minneapolis'By bringing the pieces together and focusing on the evolution of central bankers this book enables the reader to see the forest rather than the trees and to appreciate one of the successes of economics. This book will be a useful resource for both economic historians and monetary economists looking for a broad overview of the evolution of Anglo-American central banking and monetary theory.' Angela Redish, EH.Net'Economists and ordinary people have always found it difficult to understand central bankers. John H. Wood here provides a reason: central bankers themselves quite often did not fully understand their functions and the impacts of their decisions on macroeconomic outcomes. That finally has changed, Wood argues, because central banks now appear to have a 'contract' to provide price-level stability, and they can deliver on it. But the contract may be tenuous, as it is subject to political exigencies. Wood's rich history of British and American experience thus prepares us to think seriously about the future of central banking.' Richard Sylla, New York University'John Wood has undertaken the ambitious and novel task of retelling the old story of central banking by juxtaposing the histories of the Bank of England and the Federal Reserve, including its precursors, with the object of revealing the similarities and diversities of the challenges as well as their responses. A distinctive and singular achievement.' Elmus Wicker, Indiana University'The book does an excellent job in providing a coherent, detailed and readable account of the forces and personalities that have shaped the development of central banking in Britain and the United States.' Central Banking'This is a well-written, highly readable book … Throughout the book, Wood makes excellent use of his (mostly published) sources. He quotes extensively - often the quotes tell the story more or less by themselves - and he cleverly juxtaposes quotes from different eras, thereby demonstrating that time and circumstances may change but the basic issues in central banking by and large remain the same. … In short, Wood's book offers a catalogue of central banking theory brought to life through a vivid depiction of more than two centuries of central banking practice.' Financial History ReviewTable of Contents1. Understanding monetary policy; 2. An introduction to central bankers; 3. Making a central bank: I. Surviving; 4. Making a central bank: II. Looking for a rule; 5. Making a central bank: III. Ends and means; 6. Central banking in the United States, 1790–1914; 7. Before the crash: the origins and early years of the Federal Reserve; 8. The fall and rise of the Federal Reserve, 1929–51; 9. Central banking in the United States after the Great Depression, 1951–71; 10. The Bank of England after 1914; 11. Rules vs. authorities; 12. Permanent suspension; 13. Back to the beginning? New contracts for new companies.

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Book SynopsisWALL STREET JOURNAL BESTSELLER • A FINANCIAL TIMES, FORTUNE, AND NPR BEST BOOK OF THE YEAR • “The riveting, definitive account of WeWork, one of the wildest business stories of our time.”—Matt Levine, Money Stuff columnist, Bloomberg Opinion The definitive story of the rise and fall of WeWork (also depicted in the upcoming Apple TV+ series WeCrashed, starring Jared Leto and Anne Hathaway), by the real-life journalists whose Wall Street Journal reporting rocked the company and exposed a financial system drunk on the elixir of Silicon Valley innovation.  LONGLISTED FOR THE FINANCIAL TIMES AND MCKINSEY BUSINESS BOOK OF THE YEAR AWARDWeWork would be worth $10 trillion, more than any other company in the world. It wasn’t just an office space provider. It was a tech company—an AI startup, even. Its WeGrow schools and WeLive r

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Book SynopsisThis second edition of an already widely-used textbook presents an up-to-date analysis of the roles played by financial institutions and markets in the working of the UK economy. The book assumes only a basic grounding in economics and will be widely recommended to students of macroeconomics, monetary economics and finance.Table of ContentsList of Tables. Preface to the Second Edition. Preface to the First Edition. Part I: Introduction. 1. The Financial System. 2. Finance in Britain. Part II: Theory of the Financial System. 3. Mobilizing Saving. 4. Asset Transformation. 5. Interest Rates. 6. Interest Rates: Further Development. Part III: The Users of the System. 7. Personal Saving and Investment. 8. Company Financial Behaviour. 9. Public Sector Investment and Financing. 10. The Overseas Sector and the UK Financial System. Part IV: Financial Institutions and Markets. 11. Banks and Building Societies. 12. Investing Institutions. 13. Specialized Financial Institutions. 14. Financial Markets. Part V: The Control and Efficiency of the System. 15. Regulation and Control. 16. The Efficiency of the Financial System. Select Bibliography and Further Reading. Index.

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