Business, Finance & Law Books

Book SynopsisPraise For Damn Right! From the author of the bestselling WARREN BUFFETT SPEAKS Charlie Munger, whose reputation is deep and wide, based on an extraordinary record of brilliantly successful business strategies, sees things that others don't. There is a method to his mastery and, through this book, we get a chance to learn about this rare individual. MICHAEL EISNER, Chairman and CEO, The Walt Disney Company Janet Lowe uncovers the iconoclastic genius and subtle charm behind Charlie Munger's curmudgeonly facade in this richly woven portrait of our era's heir to Ben Franklin. With a biographer's detachment, an historian's thoroughness, and a financial writer's common sense, Lowe produces a riveting account of the family, personal, and business life of this idiosyncratically complex and endlessly fascinating figure. LAWRENCE A. CUNNINGHAM, Cardozo Law School, Author of The Essays of Warren Buffett: Lessons for Corporate AmericaTrade ReviewShe's Bullish on the Lifestyles of the Rich and Famous Money talks - in an astonishing number of languages. Janet Lowe' s books on business and finance have been translated into 17 tongues, including Thai, Hebrew, Slovenian and three different kinds of Chinese. President of the San Diego Press Club, former financial editor of the San Diego Tribune and the author of 16 books, Lowe' s writing focuses on the leaders of specific industries. Her latest work, "Damn Right! Behind the Scenes With Berkshire Hathaway Billionaire Charlie Munger," gives further evidence of Lowe' s expertise on money-related success. The very rich, she observes, seem to have one particular thing in common. "The people that I have written about all earned their own wealth. They are not inheritors. They did not fall by it accidentally," she said. "It came about as the result of having a particular talent that they recognized very early in their lives, and they concentrated on it." She says that Warren Buffett was fascinated by investing even as a child, that Oprah Winfrey began working in radio and television while still in high school, that Ted Turner, although a "wild child," was always someone who saw big ideas and took big risks. Lowe challenges the stereotype of the wealthy as dishonest and ruthless. Money talks - but it talks straight. "People usually do not rise to this level unless they' re very smart, good communicators, and ethical," she explained. "You may not agree with the philosophy of a Warren Buffett or a Jack Welch (the head of General Electric) and with what they do or how they feel, but they are honest and true to themselves and they follow an ethical course. They'll tell you that if you' re not a straight shooter and an honest dealer, people will see that and not work with you." The San Diego Union-Tribune Online (By Sarah Sabalos LaSpaluto, October 29, 2000 "Janet Lowe's extensive access to Charlie Munger, his family, friends and business partners has ensured a perceptive look at the man and his business methods." (Lloyd's List, 9th December 2000) "This is a well-written, fascinating, cautionary tale which examines the seductive nature of power, and people's willingness to believe in these latter-day icons." (International Wealth Management, October 2000)Table of ContentsAn Extraordinary Combination of Minds. The Lake--A PLace That Defines Munger. The Nebraskans. Surviving the Wars. Putting Together a New Life. Munger Makes His First Million. A Combination of Big Ideas. Pound-for-Pound, the Best Law Firm. Operating Wheeler, Munger Out of a Utility Room. Blue Chip Stamps. See's Candy Teaches a Lesson. The Belous Case. The Buffalo Evening News. Charles Munger Goes to War with the Savings and Loan Industry. The Blossoming of Berkshire Hathaway. Berkshire in the 1990s--Power Building. Salomon Brothers. The Daily Journal Corporation--A Modest Media Empire. Doing Good at Good Samaritan Hospital. Elder Statesman and Conscience of the Investment World. A Time to Reap Rewards. Appendices. Notes. Index.

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Book SynopsisThe trading bible for the new millennium In Come Into My Trading Room, noted trader and author Dr. Alexander Elder returns to expand far beyond the three M's (Mind, Method, and Money) of his bestselling Trading for a Living. Shifting focus from technical analysis to the overall management of a trader's money, time, and strategy, Dr.Table of ContentsDedication iv Introduction 1 How This Book Is Organized 2 Male Or Female? 4 Part One Financial Trading for Babes in the Woods 5 1 Invest? Trade? Gamble? 7 An Intelligent Investor 7 An Intelligent Trader 8 An Intelligent Gambler? 12 2 What Markets to Trade? 15 Stocks 16 Futures 18 Options 20 3 The First Steps 25 The External Barriers to Success 25 Getting Your Gear 32 Analysis and Trading 39 Part Two The Three M’S of Successful Trading 45 4 Mind—The Disciplined Trader 47 Sleepwalking Through the Market 49 A Remedy for Self-destructiveness 54 The Mature Trader 61 5 Method—Technical Analysis 67 Basic Charting 68 Indicators—Five Bullets to a Clip 84 6 Trading 123 System Testing 125 Triple Screen Update 128 Day-trading 138 The Impulse System 157 Market Thermometer 162 Exiting Trades 165 Choosing What to Trade 183 7 Money Management Formulas 215 No Math Illiterates 217 Businessman’s Risk vs. Loss. 218 The 2% Solution—Protection From Sharks 220 The 6% Rule—Protection From Piranhas 223 Position Sizing 227 Money Management Steps 230 Part Three Come Into My Trading Room 233 8 The Organized Trader 235 Trader’s Spreadsheet 236 The Equity Curve 238 Trading Diary 240 Action Plan 242 9 Trading for a Living 245 Discipline and Humility 247 Have You Got the Time? 251 The Decision-making Tree 257 Beginner, Semipro, Pro 264 Going Pro 267 10 Come Into My Trading Room 271 Excerpts From the Diary 273 Your Next Trade 298 Acknowledgments 301 Sources 303 Index 307 About the Author 313

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Book SynopsisWhat do Bill Gates, Henry Ford, J.P. Morgan, Mary Kay Ash, and Walt Disney all have in common? Uncompromising vision, a willingness to take risks, and exceptional business acumen. Not only did these individuals amass great fortunes, they revolutionized the business world and helped shape society as we know it.Table of ContentsPartial table of contents: Robert Morris: America's First Financier. Cyrus McCormick's Reaper and the Industrialization of Farming. John D. Rockefeller and the Modern Corporation. Henry Ford and the Model T. Charles Merrill and the Democratization of Stock Ownership. Walt Disney and his Family-Entertainment Empire. Ray Kroc, McDonald's, and the Fast-Food Industry. Betting the Company: Joseph Wilson and the Xerox 914. American Express and the Charge Card. Mary Kay Ash and her Corporate Culture for Women. Sam Walton, Wal-Mart, and the Discounting of America. The Turnaround at Harley-Davidson. Kohlberg Kravis Roberts & Co. and the Leveraged Buyout. William Gates and the Dominance of Microsoft. Notes on Sources. Index.

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Book SynopsisIn The Little Book That Builds Wealth, author Pat Dorsey-the Director of Equity Research for leading independent investment research provider Morningstar, Inc.Trade Review"A detailed exploration of Warren Buffet's "wide economic moat" concept - how to find companies with a true in-built competitive advantage." (Financial Times, Tues 26th February) "Pat Dorsey...discusses in an easy to read style why economic moats are such great indicators of long term performance." (Pensions World, October 2008)Table of ContentsForeword xi Acknowledgments xvii Introduction The Game Plan 1 Chapter One Economic Moats 7 Chapter Two Mistaken Moats 15 Chapter Three Intangible Assets 29 Chapter Four Switching Costs 43 Chapter Five The Network Effect 57 Chapter Six Cost Advantages 75 Chapter Seven The Size Advantage 91 Chapter Eight Eroding Moats 103 Chapter Nine Finding Moats 115 Chapter Ten The Big Boss 133 Chapter Eleven Where the Rubber Meets the Road 143 Chapter Twelve What’s a Moat Worth? 159 Chapter Thirteen Tools for Valuation 171 Chapter Fourteen When to Sell 187 Conclusion More than Numbers 197

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Book SynopsisThe bestselling author of the phenomenally successful essential entrepreneur handbook The E-Myth Revisited presents the next big step in entreprenuerial management and leadership In this practical, real-world program that can be implemented real-time into any business, Michael E. Gerber begins by explaining why the entrepreneur is so critical to the success of any enterprise, no matter how small or large it may be, and why the mindset of an entrepreneur is so integral to the operating reality of the organization. He then covers seven essential skills: leadership, marketing, money, management, lead conversion, lead generation, and client fulfillment. E-Myth Mastery shows readers the difference between being an entrepreneur and doing a job, and teaches them how to get money when banks won't help, how to expand their customer bases when big business moves in down the street, and how to make sure their businesses keep their promises every single time.Trade Review"Gerber loves to exhort people to develop powerful visions for their companies." -- Fortune "The power of the E-Myth will transform your business and your life." -- Allan D. Koltin, CPA, President and CEO, Practice Development Institute "The power of the E-Myth will transform your business and your life." -- The John Hancock Insurance Group "Gerber's powerful insights have given thousands of entrepreneurs new control over their businesses." -- Success "Here is, if not the only source of good advice, at least an important source." -- Booklist

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Book SynopsisTrade Review"For ... readers interested in keeping up with what serious thinkers are thinking about thinking, this book offers nourishing food for thought." -- Kirkus "Thinking is excellent and mind-expanding in its entirety." -- BrainPickings

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Book SynopsisEverything on Treasuries, munis,bond funds, and more!The bond buyerâs answer bookâupdated for the new economyâœAs in the first two editions, this third edition of The Bond Book continues to be the idealreference for the individual investor. It has all the necessary details, well explained andillustrated without excessive mathematics. In addition to providing this essential content, itis extremely well written.ââJames B. Cloonan, Chairman, American Association of Individual InvestorsâœAnnette Thau makes the bond market interesting, approachable, and clear. As much asinvestors will continue to depend on fixed-income securities during their retirement years,theyâll need an insightful guide that ensures theyâre appropriately educated and served.The Bond Book does just that.ââJeff Tjornejoh, Research Director, U.S. and Canada, Lipper, Thomson ReutersâœNot only a practical and easy-to-understand guide for the Table of ContentsPart OneChapter 1: The Life BondChapter 2: Buying and Selling BondsChapter 3: VolatilityChapter 4: Many Happy ReturnsChapter 5: A Guide for the PerplexedPart TwoChapter 6: Treasuries, Savings Bonds, and Federal Agency PaperChapter 7: Municipal BondsChapter 8: Mortgage-Backed SecuritiesChapter 9: Corporate BondsChapter 10: International BondsPart ThreeChapter 11: Bond Mutual FundsChapter 12: Varities of Bond FundsChapter 13: Closed-End Bond Funds and Unit Investment TrustsPart FourChapter 14: Asset AllocationChapter 15: Management of Bond Portfolios

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Book SynopsisPut into practice today's winning strategy for achieving success in high-end sales!The SPIN Selling Fieldbook is your guide to the method that has revolutionized big-ticket sales in the United States and globally. It's the method being used by one-half of all Fortune 500 companies to train their sales forces, and here's the interactive, hands-on field book that provides the practical tools you need to put this revolutionary method into actionimmediately. The SPIN Selling Fieldbook includes: Individual diagnostic exercises Illustrative case studies from leading companies Practical planning suggestions Provocative questionnaires Practice sessions to prepare you for dealing with challenging selling situations Written by the pioneering author of the original bestseller, SPIN Selling, this book is aimed at making implementation easy for companies that have not yet established SPIN techniques. It will also enable companTable of ContentsThis Book.The SPIN Model.Check It Out.Putting Spin in Context.Putting Spin to Work.Buyer Needs.Situation Questions.Problem Questions.Implication Questions.Need-Payoff Questions.Demonstrating Capability.Increasing Your Impact.Putting It All Together.Beyond Spin.Forms and Other Tools.

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Book SynopsisNow in its second edition, Strategic HRM: A Balanced Approach has been updated and revised throughout to examine the latest in theory and practice. Central to its theme is putting HRM in its organizational context and creating a more balanced approach to managing people â âHR sensitivityâ.To illustrate how understanding context is key to successful strategic HRM, this text doesnât offer best-practice solutions but takes a critical perspective HRM builds on economics, psychology, sociology and industrial relations. Itâs a multilevel approach that includes the individual employee, teams, business units, organizations, sectors/populations, and countries.Key additions:âNew chapter on talent managementâNew chapter on strategy implementationâNew cases studies, including CERN IKEA and EftelingâMajor revisions to chapters on achieving the right balance and HR roles.Key Features:âCases and Discussion Questions provide real-world scenarios and iTable of Contents1Introduction: strategic human resource  management in the twenty-first century12Strategic human resource management and context3Human resource management and performance: adding value through people4Human resource metrics and measurement5Mutual gains 6High-performance work systems7Selective recruitment and selection8Performance management9Compensation10Talent management 11Employee participation12Human resource roles13International human resource management14Implementation strategy

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Book Synopsis***THE WORD OF MOUTH INTERNATIONAL BESTSELLER NOW UPDATED WITH 15 EXPLOSIVE NEW CHAPTERS***False economics. Threats, bribes, extortion. Debt, deception, coups, assassinations and unbridled military power. These are the tools used by the ‘corporatocracy’ – a vast network of corporations, banks, colluding governments and rich and powerful individuals – to ensure that they retain and expand their wealth and influence, growing richer and richer as the poor become poorer.In his original, post 9/11 book, John Perkins revealed how he was recruited as an economic hit man in the 1970s, and exposed the corrupt methods American corporations use to spread their influence in the developing world, cheating countries out of trillions of dollars. In this new, extensively updated edition he lays bare the latest, terrifying evolution of the economic hit man, and how the system has become even more entrenched and powerful than ever before.In New Confessions of an Economic Hit Man, John Perkins provides fresh and chilling evidence of how the corporatocracy has grown its influence to every corner of the globe, making us all unwitting slaves to their regime. But he also provides advice on how we can end our unconscious support of the system and its self-serving, lethal economy.------------------------------------------------------------------------------------------------------"Perkins has, once again, made a substantial contribution to a world that needs whistle-blowers to open its eyes to the true sources of political, social, and economic power" - Yanis Varoufakis"It comes from the heart. I highly recommend it." - Michael Brownstein"it’s all here in toe-curling detail' - GuardianTrade ReviewConfessions of an Economic Hit Man is a unique book, brave because it is personal. With unflinching honesty, John Perkins narrates his moral awakening and struggle to break free from the corrupt system of global domination he himself helped to create. This book possesses an immediacy which separates it from the numerous studies we already have of American Empire. It comes from the heart. I highly recommend it. -- Michael Brownstein, author of World on FireWhen I read Confessions of an Economic Hit Man, I could not have known that, some years later, I would be on the receiving end of the type of ‘economic hit’ that Perkins so vividly narrated ... Perkins has, once again, made a substantial contribution to a world that needs whistle-blowers to open its eyes to the true sources of political, social, and economic power -- Yanis Varoufakis, former Minister of Finance, GreeceMust reading for those that know another world is possible! Perkins' story, however, is less about individual guilt and more about the systemic programming and tempting of males in patriarchal societies and their global power elites. Perkins' revelations shock us and illuminate how these same incentives in academia keep reproducing the compartmentalized worldviews and sophisticated economic models rationalizing inequity, greed, egotism, competitive self-interest and global expansionism via GDP-growth and debt. * Hazel Henderson, author of Beyond Globalization and Building a Win-Win World *I was hazy on the precise details of how third world debt came about, but after reading Confessions of an Economic Hit Man I consider myself rather better informed. And a lot more dismayed… it’s all here in toe-curling detail * Guardian *

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Book SynopsisThe amazing true story of how London became home to the Russian super-rich. A dazzling tale of incredible wealth, ferocious disputes, beautiful women, private jets, mega-yachts, the world's best footballers and chauffeur-driven Range Rovers with tinted windows.A group of buccaneering Russian oligarchs made colossal fortunes after the collapse of communism and many of them came to London to enjoy their new-found wealth. Londongrad tells for the first time the true story of their journeys from Moscow and St Petersburg to mansions in Mayfair, Knightsbridge and Surrey and takes you into a shimmering world of audacious multi-billion pound deals, outrageous spending and rancorous feuds.But while London''s flashiest restaurants echoed to Russian laughter and Bond Street shop-owners totted up their profits, darker events also played themselves out. The killing of ex-KGB man Alexander Litvinenko in London to the death in a helicopter crash he all but predicted of Stephen Curtis, the lawyerTrade Review‘A magnificently emetic account of the lifestyles of the Russki oligarchs…’ Rod Liddle, Sunday Times ‘Meticulously researched…a racy and intriguing read’ Daily Express “an important and fascinating story… gripping” - Sam Leith, the Daily Mail “A gripping chronicle of the decadence, danger and sheer power that defined a phenomenon… thoroughly researched… a compelling read” - Jeremy Hazlehurst, City AM “a racy and alarming investigation” - the Economist

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Book SynopsisResources designed to support learners of the 2010 BTEC Level 3 National Business specification Covering the full Diploma with all mandatory and a wide selection of optional units for the 2010 specification covered, and packed with in-book features to help students achieve their potential. WorkSpace case studies take your learners into the real world of work, showing them how they can apply their knowledge in a real-life context.

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Book SynopsisRichard Koch is the author of 15 highly acclaimed books, including the best-selling 80/20 trilogy --- The 80/20 Principle (over 700,000 copies sold), The 80/20 Individual, and most recently Living the 80/20 Way. As well as lecturing and broadcasting, he is an extremely successful entrepreneur and investor. His ventures have included Filofax, Belgo, Plymouth Gin, Capstone, and Betfair, the world's largest betting exchange. He was educated at the University of Pennsylvania and at Oxford University. His investment successes have propelled him well into The Sunday Times Rich List.  Table of ContentsTable of Contents Foreword Preface to the fourth edition INTRODUCTION 1. The use and abuse of strategy 2. A brief history of strategy 3. Swings in strategic thinking: seven phases 4. Towards a synthesis 5. From quick and dirty strategy to nearly perfect strategy PART ONE: BUSINESS UNIT STRATEGY A do-it-yourself guide 1. Overview 2. What businesses are you in? 3. Where do you make the money? 4. How good are your competitive positions? 5. What skills and capabilities underpin your success? 6. Is this a good industry to be in? 7. What do the customers think? 8. What about the competitors? 9. How do you raise profits quickly? 10. How do you build long term value? 11. Conclusion 12. Addition note on the theory of Business Unit Strategy PART TWO: CORPORATE STRATEGY 1.The joy of Corporate Strategy 2. An ecological view of Corporate Strategy 3. Five dimensions of Corporate Strategy 4. The strange power of the 35 word strategy 4. Conclusion PART THREE: STRATEGIC THINKERS PART FOUR: STRATEGIC CONCEPTS, TOOLS AND TECHNIQUES

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Book SynopsisThis book presents the essential steps of Charlie Munger's investing strategy, condensed from interviews, speeches, writings, and shareholder letters and paired with commentary from fund managers, value investors, and business-case historians. Munger's approach is straightforward enough that ordinary investors can apply it to their portfolios.Trade ReviewCharlie Munger is, arguably, the world's best investor. His 'worldly wisdom'-a latticework of understanding separate disciplines-is a powerful way to achieve superior investment results. Without it, success in the market-or anywhere else-is a short-lived fluke. -- Robert Hagstrom, author of The Warren Buffett Way and Investing: The Last Liberal Art Griffin offers an elegantly unified theory of Munger's ideas, organized in a coherent framework from a generous sampling of his scattered remarks in various forums over many years. Intelligent, thoughtful, helpful-and a delight to read. -- Lawrence Cunningham, author of Berkshire Beyond Buffett: The Enduring Value of Values What if I told you that the world's greatest living investor was also one of the most prolific writers and thinkers on the subject? And what if there were a single book containing all of his most insightful comments in a highly focused series of lessons, anecdotes, and instructions for success? I'm happy to tell you that, in Tren Griffin's Charlie Munger, that book has finally arrived. -- Joshua M. Brown, CEO, Ritholtz Wealth Management, author of Backstage Wall Street Griffin is better than anyone else at explaining the most important ideas from the best and brightest minds in business and investing in a way people can easily understand. This book is overflowing with wisdom. Readers will receive a master's degree in decision making, investing, human psychology, and much more. The definitive book on Warren Buffet's business partner. -- Ben Carlson, author of A Wealth of Common Sense: Why Simplicity Trumps Complexity in Any Investment Plan Munger's life is about facing reality, from personal relationships to lofty financial transactions. Griffin demonstrates how Munger sees 'possible' where others see the opposite. How Munger sees the weeds in the river yet also the wonderful fish swimming there. -- Janet Lowe, author of Damn Right: Behind the Scenes with Berkshire Billionaire Charlie Munger Charlie Munger is one of the greatest thinkers of our time. Combine his wisdom with Griffin's ability to synthesize thoughts and this book is truly a work of wisdom. It will guide you on how to think differently, which is the most important-and most lacking-skill among business leaders and investors. -- Morgan Housel, author of Everyone Believes It, Most Will Be Wrong: Motley Thoughts on Investing and the Economy Griffin does an extraordinary job of curating, synthesizing, and organizing the vast wisdom Munger has left for humanity. -- Shane Parrish Farnam Street treasure trove of observations and comments by Mr. Munger, Warren Buffet's investment expert. -- Nancy K. Webman Pensions & Investments All who are interested in finance will want this book... Highly recommended. Choice If you put it down feeling as if you haven't learned enough, blame yourself, not the author. Better Investing Well-organized and thoughtful... Griffin expertly displays how Munger's own ideas both emerged from, and later departed with the intellectual foundations laid by [Ben] Graham. The CharlietonTable of ContentsIntroduction 1. The Basics of the Graham Value Investing System 2. The Principles of the Graham Value Investing System 3. Worldly Wisdom 4. The Psychology of Human Misjudgment 5. The Right Stuff 6. The Seven Variables in the Graham Value Investing System 7. The Right Stuff in a Business Berkshire Math Moats Value Investing vs. Factor Investing Notes Glossary Bibliography

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Book SynopsisHow can great companies do everything right—identify real customer needs, deliver excellent innovations, beat their competitors to market—and still fail?The truth is that many companies fail because they focus too intensely on their own innovations, while neglecting the ecosystems on which their success depends. In our increasingly interdependent world, winning requires more than just delivering on your own promises. It means ensuring that a host of partners—some visible, some hidden—deliver on their promises, too.Ron Adner draws on over a decade of research and field testing to reveal the hidden structure of success, from Michelin’s failed run-flat tires to Apple’s path to market dominance. The Wide Lens offers a powerful new set of frameworks and tools that will multiply your odds of innovation success.

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Book SynopsisTake the stress out of giving feedback. To help your employees meet their goals and fulfill their potential, you need to provide them with regular feedback. But the prospect of sharing potentially negative news can be overwhelming. How do you construct your message so that it’s not only well received but also expressed in a way that encourages change? Whether you’re commending exemplary work or addressing problem behavior, the HBR Guide to Delivering Effective Feedback provides you with practical advice and tips to transform any performance discussion—from weekly check-ins to annual reviews—into an opportunity for growth and development. You’ll learn to: Establish trust with your direct reportsAssess their performance fairlyEmphasize improvement, even in criticismReact calmly to a defensive feedback recipientRecognize and motivate star performersCreate individualized development plans Arm yourself with the advice you need to succeed on the job, from a source you trust. Packed with how-to essentials from leading experts, the HBR Guides provide smart answers to your most pressing work challenges.

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Book SynopsisA through guide covering Modern Portfolio Theory as well as the recent developments surrounding it Modern portfolio theory (MPT), which originated with Harry Markowitz''s seminal paper Portfolio Selection in 1952, has stood the test of time and continues to be the intellectual foundation for real-world portfolio management. This book presents a comprehensive picture of MPT in a manner that can be effectively used by financial practitioners and understood by students. Modern Portfolio Theory provides a summary of the important findings from all of the financial research done since MPT was created and presents all the MPT formulas and models using one consistent set of mathematical symbols. Opening with an informative introduction to the concepts of probability and utility theory, it quickly moves on to discuss Markowitz''s seminal work on the topic with a thorough explanation of the underlying mathematics. Analyzes portfolios of all sizes and types,Table of ContentsPreface xvii CHAPTER 1 Introduction 1 1.1 The Portfolio Management Process 1 1.2 The Security Analyst’s Job 1 1.3 Portfolio Analysis 2 1.3.1 Basic Assumptions 3 1.3.2 Reconsidering the Assumptions 3 1.4 Portfolio Selection 5 1.5 The Mathematics is Segregated 6 1.6 Topics to be Discussed 6 Appendix: Various Rates of Return 7 A1.1 Calculating the Holding Period Return 7 A1.2 After-Tax Returns 8 A1.3 Discrete and Continuously Compounded Returns 8 PART ONE Probability Foundations CHAPTER 2 Assessing Risk 13 2.1 Mathematical Expectation 13 2.2 What Is Risk? 15 2.3 Expected Return 16 2.4 Risk of a Security 17 2.5 Covariance of Returns 18 2.6 Correlation of Returns 19 2.7 Using Historical Returns 20 2.8 Data Input Requirements 22 2.9 Portfolio Weights 22 2.10 A Portfolio’s Expected Return 23 2.11 Portfolio Risk 23 2.12 Summary of Notations and Formulas 27 CHAPTER 3 Risk and Diversification 29 3.1 Reconsidering Risk 29 3.1.1 Symmetric Probability Distributions 31 3.1.2 Fundamental Security Analysis 32 3.2 Utility Theory 32 3.2.1 Numerical Example 33 3.2.2 Indifference Curves 35 3.3 Risk-Return Space 36 3.4 Diversification 38 3.4.1 Diversification Illustrated 38 3.4.2 Risky A + Risky B = Riskless Portfolio 39 3.4.3 Graphical Analysis 40 3.5 Conclusions 41 PART TWO Utility Foundations CHAPTER 4 Single-Period Utility Analysis 45 4.1 Basic Utility Axioms 46 4.2 The Utility of Wealth Function 47 4.3 Utility of Wealth and Returns 47 4.4 Expected Utility of Returns 48 4.5 Risk Attitudes 52 4.5.1 Risk Aversion 52 4.5.2 Risk-Loving Behavior 56 4.5.3 Risk-Neutral Behavior 57 4.6 Absolute Risk Aversion 59 4.7 Relative Risk Aversion 60 4.8 Measuring Risk Aversion 62 4.8.1 Assumptions 62 4.8.2 Power, Logarithmic, and Quadratic Utility 62 4.8.3 Isoelastic Utility Functions 64 4.8.4 Myopic, but Optimal 65 4.9 Portfolio Analysis 66 4.9.1 Quadratic Utility Functions 67 4.9.2 Using Quadratic Approximations to Delineate Max[E(Utility)] Portfolios 68 4.9.3 Normally Distributed Returns 69 4.10 Indifference Curves 69 4.10.1 Selecting Investments 71 4.10.2 Risk-Aversion Measures 73 4.11 Summary and Conclusions 74 Appendix: Risk Aversion and Indifference Curves 75 A4.1 Absolute Risk Aversion (ARA) 75 A4.2 Relative Risk Aversion (RRA) 76 A4.3 Expected Utility of Wealth 77 A4.4 Slopes of Indifference Curves 77 A4.5 Indifference Curves for Quadratic Utility 79 PART THREE Mean-Variance Portfolio Analysis CHAPTER 5 Graphical Portfolio Analysis 85 5.1 Delineating Efficient Portfolios 85 5.2 Portfolio Analysis Inputs 86 5.3 Two-Asset Isomean Lines 87 5.4 Two-Asset Isovariance Ellipses 90 5.5 Three-Asset Portfolio Analysis 92 5.5.1 Solving for One Variable Implicitly 93 5.5.2 Isomean Lines 96 5.5.3 Isovariance Ellipses 97 5.5.4 The Critical Line 99 5.5.5 Inefficient Portfolios 101 5.6 Legitimate Portfolios 102 5.7 ‘‘Unusual’’ Graphical Solutions Don’t Exist 103 5.8 Representing Constraints Graphically 103 5.9 The Interior Decorator Fallacy 103 5.10 Summary 104 Appendix: Quadratic Equations 105 A5.1 Quadratic Equations 105 A5.2 Analysis of Quadratics in Two Unknowns 106 A5.3 Analysis of Quadratics in One Unknown 107 A5.4 Solving an Ellipse 108 A5.5 Solving for Lines Tangent to a Set of Ellipses 110 CHAPTER 6 Efficient Portfolios 113 6.1 Risk and Return for Two-Asset Portfolios 113 6.2 The Opportunity Set 114 6.2.1 The Two-Security Case 114 6.2.2 Minimizing Risk in the Two-Security Case 116 6.2.3 The Three-Security Case 117 6.2.4 The n-Security Case 119 6.3 Markowitz Diversification 120 6.4 Efficient Frontier without the Risk-Free Asset 123 6.5 Introducing a Risk-Free Asset 126 6.6 Summary and Conclusions 131 Appendix: Equations for a Relationship between E(rp) and σp 131 CHAPTER 7 Advanced Mathematical Portfolio Analysis 135 7.1 Efficient Portfolios without a Risk-Free Asset 135 7.1.1 A General Formulation 135 7.1.2 Formulating with Concise Matrix Notation 140 7.1.3 The Two-Fund Separation Theorem 145 7.1.4 Caveat about Negative Weights 146 7.2 Efficient Portfolios with a Risk-Free Asset 146 7.3 Identifying the Tangency Portfolio 150 7.4 Summary and Conclusions 152 Appendix: Mathematical Derivation of the Efficient Frontier 152 A7.1 No Risk-Free Asset 152 A7.2 With a Risk-Free Asset 156 CHAPTER 8 Index Models and Return-Generating Process 165 8.1 Single-Index Models 165 8.1.1 Return-Generating Functions 165 8.1.2 Estimating the Parameters 168 8.1.3 The Single-Index Model Using Excess Returns 171 8.1.4 The Riskless Rate Can Fluctuate 173 8.1.5 Diversification 176 8.1.6 About the Single-Index Model 177 8.2 Efficient Frontier and the Single-Index Model 178 8.3 Two-Index Models 186 8.3.1 Generating Inputs 187 8.3.2 Diversification 188 8.4 Multi-Index Models 189 8.5 Conclusions 190 Appendix: Index Models 191 A8.1 Solving for Efficient Portfolios with the Single-Index Model 191 A8.2 Variance Decomposition 196 A8.3 Orthogonalizing Multiple Indexes 196 PART FOUR Non-Mean-Variance Portfolios CHAPTER 9 Non-Normal Distributions of Returns 201 9.1 Stable Paretian Distributions 201 9.2 The Student’s t-Distribution 204 9.3 Mixtures of Normal Distributions 204 9.3.1 Discrete Mixtures of Normal Distributions 204 9.3.2 Sequential Mixtures of Normal Distributions 205 9.4 Poisson Jump-Diffusion Process 206 9.5 Lognormal Distributions 206 9.5.1 Specifications of Lognormal Distributions 207 9.5.2 Portfolio Analysis under Lognormality 208 9.6 Conclusions 213 CHAPTER 10 Non-Mean-Variance Investment Decisions 215 10.1 Geometric Mean Return Criterion 215 10.1.1 Maximizing the Terminal Wealth 216 10.1.2 Log Utility and the GMR Criterion 216 10.1.3 Diversification and the GMR 217 10.2 The Safety-First Criterion 218 10.2.1 Roy’s Safety-First Criterion 218 10.2.2 Kataoka’s Safety-First Criterion 222 10.2.3 Telser’s Safety-First Criterion 225 10.3 Semivariance Analysis 228 10.3.1 Definition of Semivariance 228 10.3.2 Utility Theory 230 10.3.3 Portfolio Analysis with the Semivariance 231 10.3.4 Capital Market Theory with the Semivariance 234 10.3.5 Summary about Semivariance 236 10.4 Stochastic Dominance Criterion 236 10.4.1 First-Order Stochastic Dominance 236 10.4.2 Second-Order Stochastic Dominance 241 10.4.3 Third-Order Stochastic Dominance 244 10.4.4 Summary of Stochastic Dominance Criterion 245 10.5 Mean-Variance-Skewness Analysis 246 10.5.1 Only Two Moments Can Be Inadequate 246 10.5.2 Portfolio Analysis in Three Moments 247 10.5.3 Efficient Frontier in Three-Dimensional Space 249 10.5.4 Undiversifiable Risk and Undiversifiable Skewness 252 10.6 Summary and Conclusions 254 Appendix A: Stochastic Dominance 254 A10.1 Proof for First-Order Stochastic Dominance 254 A10.2 Proof That FA(r) ≤ FB(r) Is Equivalent to EA(r) ≥ EB(r) for Positive r 255 Appendix B: Expected Utility as a Function of Three Moments 257 CHAPTER 11 Risk Management: Value at Risk 261 11.1 VaR of a Single Asset 261 11.2 Portfolio VaR 263 11.3 Decomposition of a Portfolio’s VaR 265 11.3.1 Marginal VaR 265 11.3.2 Incremental VaR 266 11.3.3 Component VaR 267 11.4 Other VaRs 269 11.4.1 Modified VaR (MVaR) 269 11.4.2 Conditional VaR (CVaR) 270 11.5 Methods of Measuring VaR 270 11.5.1 Variance-Covariance (Delta-Normal) Method 270 11.5.2 Historical Simulation Method 274 11.5.3 Monte Carlo Simulation Method 276 11.6 Estimation of Volatilities 277 11.6.1 Unconditional Variance 277 11.6.2 Simple Moving Average 277 11.6.3 Exponentially Weighted Moving Average 278 11.6.4 GARCH-Based Volatility 278 11.6.5 Volatility Measures Using Price Range 279 11.6.6 Implied Volatility 281 11.7 The Accuracy of VaR Models 282 11.7.1 Back-Testing 283 11.7.2 Stress Testing 284 11.8 Summary and Conclusions 285 Appendix: The Delta-Gamma Method 285 PART FIVE Asset Pricing Models CHAPTER 12 The Capital Asset Pricing Model 291 12.1 Underlying Assumptions 291 12.2 The Capital Market Line 292 12.2.1 The Market Portfolio 292 12.2.2 The Separation Theorem 293 12.2.3 Efficient Frontier Equation 294 12.2.4 Portfolio Selection 294 12.3 The Capital Asset Pricing Model 295 12.3.1 Background 295 12.3.2 Derivation of the CAPM 296 12.4 Over- and Under-priced Securities 299 12.5 The Market Model and the CAPM 300 12.6 Summary and Conclusions 301 Appendix: Derivations of the CAPM 301 A12.1 Other Approaches 301 A12.2 Tangency Portfolio Research 305 CHAPTER 13 Extensions of the Standard CAPM 311 13.1 Risk-Free Borrowing or Lending 311 13.1.1 The Zero-Beta Portfolio 311 13.1.2 No Risk-Free Borrowing 314 13.1.3 Lending and Borrowing Rates Can Differ 314 13.2 Homogeneous Expectations 316 13.2.1 Investment Horizons 316 13.2.2 Multivariate Distribution of Returns 317 13.3 Perfect Markets 318 13.3.1 Taxes 318 13.3.2 Transaction Costs 320 13.3.3 Indivisibilities 321 13.3.4 Price Competition 321 13.4 Unmarketable Assets 322 13.5 Summary and Conclusions 323 Appendix: Derivations of a Non-Standard CAPM 324 A13.1 The Characteristics of the Zero-Beta Portfolio 324 A13.2 Derivation of Brennan’s After-Tax CAPM 325 A13.3 Derivation of Mayers’s CAPM for Nonmarketable Assets 328 CHAPTER 14 Empirical Tests of the CAPM 333 14.1 Time-Series Tests of the CAPM 333 14.2 Cross-Sectional Tests of the CAPM 335 14.2.1 Black, Jensen, and Scholes’s (1972) Tests 336 14.2.2 Fama and MacBeth’s (1973) Tests 340 14.2.3 Fama and French’s (1992) Tests 344 14.3 Empirical Misspecifications in Cross-Sectional Regression Tests 345 14.3.1 The Errors-in-Variables Problem 346 14.3.2 Sensitivity of Beta to the Return Measurement Intervals 351 14.4 Multivariate Tests 353 14.4.1 Gibbons’s (1982) Test 353 14.4.2 Stambaugh’s (1982) Test 355 14.4.3 Jobson and Korkie’s (1982) Test 355 14.4.4 Shanken’s (1985) Test 356 14.4.5 Generalized Method of Moment (GMM) Tests 356 14.5 Is the CAPM Testable? 356 14.6 Summary and Conclusions 357 CHAPTER 15 Continuous-Time Asset Pricing Models 361 15.1 Intertemporal CAPM (ICAPM) 361 15.2 The Consumption-Based CAPM (CCAPM) 363 15.2.1 Derivation 363 15.2.2 The Consumption-Based CAPM with a Power Utility Function 365 15.3 Conclusions 366 Appendix: Lognormality and the Consumption-Based CAPM 367 A15.1 Lognormality 367 A15.2 The Consumption-Based CAPM with Lognormality 367 CHAPTER 16 Arbitrage Pricing Theory 371 16.1 Arbitrage Concepts 371 16.2 Index Arbitrage 375 16.2.1 Basic Ideas of Index Arbitrage 376 16.2.2 Index Arbitrage and Program Trading 377 16.2.3 Use of ETFs for Index Arbitrage 377 16.3 The Asset Pricing Equation 378 16.3.1 One Single Factor with No Residual Risk 379 16.3.2 Two Factors with No Residual Risk 380 16.3.3 K Factors with No Residual Risk 381 16.3.4 K Factors with Residual Risk 382 16.4 Asset Pricing on a Security Market Plane 383 16.5 Contrasting APT with CAPM 385 16.6 Empirical Evidence 386 16.7 Comparing the APT and CAPM Empirically 388 16.8 Conclusions 389 PART SIX Implementing the Theory CHAPTER 17 Portfolio Construction and Selection 395 17.1 Efficient Markets 395 17.1.1 Fama’s Classifications 395 17.1.2 Formal Models 396 17.2 Using Portfolio Theories to Construct and Select Portfolios 398 17.3 Security Analysis 400 17.4 Market Timing 401 17.4.1 Forecasting Beta 401 17.4.2 Nonstationarity of Beta 404 17.4.3 Determinants of Beta 406 17.5 Diversification 407 17.5.1 Simple Diversification 408 17.5.2 Timing and Diversification 409 17.5.3 International Diversification 411 17.6 Constructing an Active Portfolio 415 17.7 Portfolio Revision 424 17.7.1 Portfolio Revision Costs 424 17.7.2 Controlled Transition 426 17.7.3 The Attainable Efficient Frontier 428 17.7.4 A Turnover-Constrained Approach 428 17.8 Summary and Conclusions 430 Appendix: Proofs for Some Ratios from Active Portfolios 431 A17.1 Proof for αA/σ2 εA= ∑Ki=1(αi/σ2 εi) 431 A17.2 Proof for (αAβA/ σ2 εA) = ∑Ki=1 (αiβi/σ2 εi) 431 A17.3 Proof for (α2A/ σ2 εA) = ∑Ki=1 (σ2 i/σ2 εi) 432 CHAPTER 18 Portfolio Performance Evaluation 435 18.1 Mutual Fund Returns 435 18.2 Portfolio Performance Analysis in the Good Old Days 436 18.3 Capital Market Theory Assumptions 438 18.4 Single-Parameter Portfolio Performance Measures 438 18.4.1 Sharpe’s Reward-to-Variability Ratio 439 18.4.2 Treynor’s Reward-to-Risk Ratio 441 18.4.3 Jensen’s Measure 444 18.4.4 Information Ratio (or Appraisal Ratio) 447 18.4.5 M2 Measure 448 18.5 Market Timing 449 18.5.1 Interpreting the Market Timing Coefficient 450 18.5.2 Henriksson and Merton’s Model 451 18.5.3 Descriptive Comments 452 18.6 Comparing Single-Parameter Portfolio Performance Measures 452 18.6.1 Ranking Undiversified Investments 452 18.6.2 Contrasting the Three Models 453 18.6.3 Survivorship Bias 454 18.7 The Index of Total Portfolio Risk (ITPR) and the Portfolio Beta 454 18.8 Measurement Problems 457 18.8.1 Measurement of the Market Portfolio’s Returns 458 18.8.2 Nonstationarity of Portfolio Return Distributions 460 18.9 Do Winners or Losers Repeat? 461 18.10 Summary about Investment Performance Evaluation 465 Appendix: Sharpe Ratio of an Active Portfolio 467 A18.1 Proof that S2q= S2m+ [αA/σ (εA)]2 467 CHAPTER 19 Performance Attribution 473 19.1 Factor Model Analysis 474 19.2 Return-Based Style Analysis 475 19.3 Return Decomposition-Based Analysis 479 19.4 Conclusions 485 19.4.1 Detrimental Uses of Portfolio Performance Attribution 486 19.4.2 Symbiotic Possibilities 486 Appendix: Regression Coefficients Estimation with Constraints 486 A19.1 With No Constraints 487 A19.2 With the Constraint of ∑Kk=1 βik 475 CHAPTER 20 Stock Market Developments 489 20.1 Recent NYSE Consolidations 489 20.1.1 Archipelago 490 20.1.2 Pacific Stock Exchange (PSE) 490 20.1.3 ArcaEx 490 20.1.4 New York Stock Exchange (NYSE) 490 20.1.5 NYSE Group 491 20.1.6 NYSE Diversifies Internationally 491 20.1.7 NYSE Alliances 491 20.2 International Securities Exchange (ISE) 492 20.3 Nasdaq 492 20.3.1 London Stock Exchange (LSE) 493 20.3.2 OMX Group 493 20.3.3 Bourse Dubai 493 20.3.4 Boston Stock Exchange (BSE) 494 20.3.5 Philadelphia Stock Exchange (PHLX) 494 20.4 Downward Pressures on Transactions Costs 494 20.4.1 A National Market System (NMS) 495 20.4.2 The SEC’s Reg ATS 496 20.4.3 Reg FD 496 20.4.4 Decimalization of Stock Prices 496 20.4.5 Technological Advances 496 20.5 The Venerable Limit Order 497 20.5.1 What Are Limit Orders? 497 20.5.2 Creating Market Liquidity 498 20.6 Market Microstructure 498 20.6.1 Inventory Management 498 20.6.2 Brokers 499 20.7 High-Frequency Trading 499 20.8 Alternative Trading Systems (ATSs) 500 20.8.1 Crossing Networks 500 20.8.2 Dark Pools 500 20.9 Algorithmic Trading 501 20.9.1 Some Algorithmic Trading Applications 501 20.9.2 Trading Curbs 503 20.9.3 Conclusions about Algorithmic Trading 504 20.10 Symbiotic Stock Market Developments 505 20.11 Detrimental Stock Market Developments 505 20.12 Summary and Conclusions 506 Mathematical Appendixes 509 Bibliography 519 About the Authors 539 Author Index 541 Subject Index 547

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Book SynopsisDecision Analysis for Management Judgment is unique in its breadth of coverage of decision analysis methods. It covers both the psychological problems that are associated with unaided managerial decision making and the decision analysis methods designed to overcome them.Table of ContentsForeword Lawrence D. Phillips vii Preface ix Chapter 1 Introduction 1 Chapter 2 How people make decisions involving multiple objectives 15 Chapter 3 Decisions involving multiple objectives: SMART 33 Chapter 4 Decisions involving multiple objectives: alternatives to SMART 65 Chapter 5 Introduction to probability 95 Chapter 6 Decision making under uncertainty 117 Chapter 7 Decision trees and influence diagrams 161 Chapter 8 Applying simulation to decision problems 187 Chapter 9 Revising judgments in the light of new information 221 Chapter 10 Heuristics and biases in probability assessment 245 Chapter 11 Methods for eliciting probabilities 275 Chapter 12 Risk and uncertainty management 297 Chapter 13 Decisions involving groups of individuals 309 Chapter 14 Resource allocation and negotiation problems 337 Chapter 15 Decision framing and cognitive inertia 361 Chapter 16 Scenario planning: an alternative way of dealing with uncertainty 387 Chapter 17 Combining scenario planning with decision analysis 423 Chapter 18 Alternative decision-support systems and conclusions 437 Suggested answers to selected questions 469 Index 475

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Book SynopsisA comprehensive playbook for applied design thinking in business and management, complete with concepts and toolkits As many companies have lost confidence in the traditional ways of running a business, design thinking has entered the mix.Table of ContentsAcknowledgments ix Foreword Erik Roth x SCENE 01 There’s No More Business As Usual viii The Butterfly Effect and Long-Range Planning 12 Applied Design Thinking Is Strategic Innovation 16 Time to Think beyond Crisis Mode 18 Changing Management Paradigms 22 SCENE 02 What Is Design Thinking, Really? 26 Is Design Thinking a Science or an Art? 34 Design Thinking Has Been Oversimplified 38 SCENE 03 Applied Design Thinking in Business and Strategy 46 Design Thinking to the Rescue 56 We’ve Lost Touch with What’s around Us 58 Every Future Business Leader Needs to Be a Good Design Thinker 60 The 10 Design Thinking Principles That Redefine Business Management 62 SCENE 04 Introducing the Design Thinking MBA 76 Business Challenge 01: Growth 82 Business Challenge 02: Predictability 94 Business Challenge 03: Change 108 Business Challenge 04: Maintaining Relevance 118 Business Challenge 05: Extreme Competition 126 Business Challenge 06: Standardization 136 Business Challenge 07: Creative Culture 148 Business Challenge 08: Strategy and Organization 156 SCENE 05 Hiring Design Thinkers Is Not Enough; We Need to Create Design Thinking Companies 188 About the Author 203 Photo Credits 204 Index 205

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Book SynopsisA must-read for sales reps, managers, and professional-services execs looking to do right by loyal customers--and profit from an influx of new accounts.Trade Review'Everyone in sales is responsible for new business development. Period. End of story. But as Mike Weinberg so clearly puts it, 'No one ever defaults to prospecting.' If you constantly struggle to generate new business, you owe it yourself to read New Sales. Simplified. You will learn everything you need to do to stand out from the competition, get more appointments, and close more deals. Oh, and you will have more fun doing it!' --Kelley Robertson, CEO, The Robertson Training Group, and author of Stop, Ask and Listen and The Secrets of Power Selling'In a time when too much of the sales literature is filled with hyperbole, tricks, and gimmicks, New Sales. Simplified stands out as a refreshing change. It's packed with pragmatic advice, all the result of Mike's deep experience in selling. What works in selling is sharp, disciplined execution of the basics. Every page of Mike's book reminds the reader of this and vividly demonstrates how the basics work. It's a refreshing reminder to the experienced sales professional and a critical guidebook for the new salesperson. Read it, annotate it, keep it within reach.' --Dave Brock, President, Partners in Excellence'Mike Weinberg's coaching and the approach presented in New Sales. Simplified. have been game-changers for our firm. Our revamped sales story is getting us in front of significantly more Fortune 500 prospects, and Mike's method for conducting sales calls has changed the entire dynamic of the sales dance and helped shorten our sales cycle.' --Thomas H. Lawrence, CEO, Smartlight Subrogation'New Sales. Simplified. is truly priceless. This is a book you don't read once; it's one you read with a highlighter and pad, taking notes on each topic. After you've read it and marked it up, you'll find yourself coming back time and time again for more ideas to help you grow your sales.' --Mark Hunter, The Sales Hunter, author of High-Profit Selling'When you've tired of every new flavor-of-the-month sales theory and are ready to get serious about pursuing and acquiring new customers, this book is for you. Mike Weinberg tells it like it is, presents timeless sales truths, and [provides] a simple, straightforward approach to developing new business. Prepare to be entertained and energized.' --Charles H. Green, coauthor of The Trusted Advisor, author of Trust-Based Selling, and CEO of Trusted Advisor AssociatesTable of Contents Contents Foreword by S. Anthony Iannarino Acknowledgments Introduction Chapter 1: Sales Simplified and a Dose of Blunt Truth Chapter 2: The “Not-So-Sweet 16” Reasons Salespeople Fail at New Business Development Chapter 3: The Company’s Responsibility for Sales Success Chapter 4: A Simple Framework for Developing New Business Chapter 5: Selecting Targets -- First for a Reason Chapter 6: Our Sales Weapons: What’s in the Arsenal? Chapter 7: Your Most Important Sales Weapon Chapter 8: Sharpening Your Sales Story Chapter 9: Your Friend the Phone Chapter 10: Mentally Preparing for the Face-to-Face Sales Call Chapter 11: Structuring Winning Sales Calls Chapter 12: Preventing the Buyer’s Reflex Resistance to Salespeople Chapter 13: I Thought I Was Supposed to Make a Presentation Chapter 14: Planning and Executing the Attack Chapter 15: Rants, Raves, and Reflections Chapter 16: New Business Development Selling Is Not Complicated Index

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Book SynopsisA front-line industry insider's look at the financial technology explosion The FINTECH Book is your primary guide to the financial technology revolution, and the disruption, innovation and opportunity therein.Trade ReviewFantastic project worth reading and sharing the crowdsourced format makes it a strong instrument and resource for professionals and organisations worldwide (Open Business Council, March 2016) " For the layman and the investor there is plenty to learn from and dip in and out of (Economia, May 2016) in summary, we have a handbook with an amazingly wide number of contributors, covering an extensive range of financial technology subjects, in the most absorbing and thought provoking way. It is amazing that this book has come to market at all, and our understanding of the future of our world is well served for the fact that it has done so. (BCS, July 2016)Table of ContentsPreface viii About the Editors x Acknowledgements xii 1. Introduction Banking and the E-Book Moment 6 Why We’re so Excited About FinTech 10 Current Trends in Financial Technology 13 2. FinTech Themes Banks Need to Think Collaboration Rather Than Competition 20 Global Compliance is Key 22 Lending (Capital) in the 21st Century 25 The Next Big Innovation in FinTech – Identity 28 Tech Giants Becoming Non-Bank Banks 31 Design is No Longer an Option – User Experience (UX) in FinTech 34 3. FinTech Hubs Nurturing New FinTech Communities 42 La (French) FinTech Connection 45 The Journey Towards an Integrated FinTech Ecosystem – The Netherlands 48 Luxembourg, a Future FinTech Hub? 51 Vienna as the No. 1 FinTech Hub in Mobile Payments? 53 India’s FinTech Ecosystem 56 Singapore, the FinTech Hub for Southeast Asia 58 4. Emerging Markets and Social Impact FinTech – The Not So Little Engine That Can 66 Why Am I Not Gonna Be Able to Enter a Bank? 69 The Rise of the Rest in FinTech 72 Smartphones, FinTech, and Education – Helping the Unbanked Reach Financial Inclusion 75 The Social Impact of FinTech in Nigeria 78 India and the Pyramid of Opportunity 81 5. FinTech Solutions Rewiring the Deal – The Path Forward for B2B Supply Chains 88 Payments and Point of Sales (POS) Innovation 92 Predictive Algorithms – Building Innovative Online Banking Solutions 95 Big Data is the Cornerstone of Regulatory Compliance Systems 100 FinTech Solutions in Complex Contracts Optimization 106 Behavioural Biometrics – A New Era of Security 109 Ultra-Fast Text Analytics in Trading Strategies 112 Regulated Crowdfunding Ecosystems 117 Remittances – International FX Payments at Low Cost 120 FinTech Solutions for Small Businesses 123 Payment Solutions Including Apple Pay 125 FinTech Solutions Benefiting other Sectors 128 FinTech Innovation for Wearables 131 6. Capital and Investment Investment and Capital – Back to Basics 138 Angel Investing – Access to “Smart Money” to Fund the Best FinTech Companies 141 Crowdfunding and Marketplace (P2P) Lending – Online Capital Marketplaces as New Asset Classes to Access Funding 144 The Digital Investment Space – Spanning from Social Trading to Digital Private Banking – A FinTech Sector Made for Disruption? 147 Leading the Way with an Investor-led Approach to Crowdfunding 149 My Robo Advisor was an iPod – Applying the Lessons from Other Sectors to FinTech Disruption 152 Crowdsourced Alpha 155 To Crowdsource a Hedge Fund 160 Providing Capital and Beyond 162 7. Enterprise Innovation Can Banks Innovate? 170 So, You Think the Innovation Lab is the Answer? 173 FinTechs and Banks – Collaboration is Key 179 Partnerships Are the Key to Addressing Financial and Digital Exclusion 183 Corporate Venture Capital – The New Power Broker in the FinTech Innovation Ecosystem 186 The Insurance Opportunity 190 8. More Success Stories eToro – Building the World’s Largest Social Investment Network 196 Avoka – An Overnight Success, 13 Years in the Making 198 Bankable – Banking as a Service 201 The Next Chapter in Citi’s Story of Innovation 203 FinTech Trends from the Frontline – Building Collaborative Opportunities for Start-ups, Market Infrastructures, and Wholesale Banks 206 9. Crypto-currencies and Blockchains FinTech + Digital Currency – Convergence or Collision? 212 Blockchain and Crypto-currencies 217 10. The Future of FinTech How Emerging Technologies Will Change Financial Services 226 The Future of Financial Services 229 Banking on Innovation Through Data 232 Why FinTech Banks Will Rule the World 235 The FinTech Supermarket – The Bank is Dead, Long Live the Bank! 238 Banks Partnering with FinTech Start-ups to Create an Integrated Customer Experience 241 The Rise of BankTech – The Beauty of a Hybrid Model for Banks 245 FinTech Impact on Retail Banking – From a Universal Banking Model to Banking Verticalization 248 Embracing the Connected API Economy 253 Banking Like Water 258 Eliminating Friction in Customers’ Financial Lives 261 FinTech is the Future Itself 264 A Future Without Money 267 Ethics in FinTech? 270 List of Contributors 273 Index 291

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Book SynopsisThe writings of Karl Marx (1818â1883) have left an indelible mark not only on the understanding of economics and political thought but on the lives of millions of people who lived in regimes that claimed (wrongly) his influence. Trained as a philosopher and steeped in the thought of Hegel, Marx turned away from Hegelian philosophy after 1845 towards a philosophy that incorporated economics and history. It is this Marx that endures and to which this outstanding introduction is devoted.Jaime Edwards and Brian Leiter begin with an overview of Marx's life and intellectual development, including his early years as a journalist in Germany before his exile in London. They then introduce and assess the fundamental elements of Marxâs thought: Marxâs theory of history and historical change (historical materialism) class conflict, the state, and the Communist revolution Marxâs theory of economics, especially the labour theory of value, and his prediction of

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Book SynopsisToo many of the most prominent management gurus today make steel-clad guarantees, based on claims of irrefutable research, promising to reveal the secrets of why one company fails and another succeeds, and how you can become the latter. Combining equal measures of solemn-faced hype and a whole body of delusions, statistical and otherwise, these self-styled experts cloud our ability to think critically about the nature of success in business. Like a virus, these fundamental errors of thinking infect much of what we read, whether in leading business magazines, scholarly journals, or management bestsellers. Central among these delusions is the Halo Effect, the tendency on the part of the experts to point to the high financial performance of a successful company and then spread its golden glow to all its attributes: clear strategy, strong values, brilliant leadership, and outstanding execution. But should the same company''s sales head south, the very same attributes are turned on

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Book SynopsisThe latest groundbreaking tome from Tim Ferriss, the #1 New York Times best-selling author of The 4-Hour Workweek.  From the author:   “For the last two years, I’ve interviewed more than 200 world-class performers for my podcast, The Tim Ferriss Show. The guests range from super celebs (Jamie Foxx, Arnold Schwarzenegger, etc.) and athletes (icons of powerlifting, gymnastics, surfing, etc.) to legendary Special Operations commanders and black-market biochemists. For most of my guests, it’s the first time they’ve agreed to a two-to-three-hour interview. This unusual depth has helped make The Tim Ferriss Show the first business/interview podcast to pass 100 million downloads.   “This book contains the distilled tools, tactics, and ‘inside baseball’ you won&rsquo

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Book SynopsisAdopt the investment strategy that turned a school teacher into a millionaire Millionaire Teacher shows you how to achieve financial independence through smart investing without being a financial wizard. Author Andrew Hallam was a high school English teacher.Table of ContentsAcknowledgments xiii Introduction 1 Rule 1 Spend Like You Want to Grow Rich 5 The Hippocratic Rule of Wealth 6 Can You See the Road When You’re Driving? 10 One of the Savviest Guys I Ever Met—And His View on Buying Cars 13 Careful Home Purchases 19 Millionaire Handouts 20 How Did I Become a Millionaire? 21 Looking to the Future 24 Rule 2 Use the Greatest Investment Ally You Have 27 Compound Interest—The World’s Most Powerful Financial Concept 29 The Bohemian Millionaire—The Best of Historical-Based Fiction 31 Gifting Money to Yourself 34 When You Definitely Shouldn’t Invest 36 How and Why Stocks Rise in Value 36 Rule 3 Small Fees Pack Big Punches 43 With Training, the Average Fifth Grader Can Take on Wall Street 44 Financial Experts Backing the Irrefutable 45 What Causes Experts to Shake Their Heads 49 When the Best Funds Turn Malignant 51 Reality Check 58 When Best Mutual Fund Lists Can Strip You Naked 61 What’s Under the Hood of an Index Fund? 69 Captain America Calls for Government Action 70 Who’s Arguing against Indexes? 72 Rule 4 Conquer the Enemy in the Mirror 81 When a 10 Percent Gain Isn’t a 10 Percent Gain 81 Are Index Fund Investors Smarter? 86 It’s Not Timing the Market That Matters; It’s Time in the Market 88 On Stocks . . . What You Really Should Have Learned in School 90 Internet Madness and the Damage It Caused 96 Taking Advantage of Fear and Greed 99 Young People Should Salivate When Stocks Sputter 101 Opportunities after Chaos 103 Rule 5 Build Mountains of Money with a Responsible Portfolio 111 What Are Bonds? 112 Profiting from Panic—Stock Market Crash, 2008–2009 116 Having a Foreign Affair 118 Introducing the Couch Potato Portfolio 120 Combinations of Stocks and Bonds Can Have Powerful Returns 123 Rule 6 Sample a “Round-the-World” Ticket to Indexing 129 What’s the Difference between an Index Fund and an ETF? 129 Indexing in the United States—An American Father of Triplets 135 Indexing in Canada 142 A Canadian Couch Potato Strips Down Costs 145 Indexing in Great Britain 148 Indexing in Australia—Winning with an American Weapon 151 Indexing in Singapore 153 The Next Step 157 Rule 7 No, You Don’t Have to Invest on Your Own 161 Are You Wired Like a Buddha? 162 How Does the Average Index Investor Underperform the Index? 163 Intelligent Investing for Americans 165 Intelligent Investing Firms for Canadians 172 Intelligent Investing Firms for British Investors 179 Intelligent Investing Firms for Australians 183 Intelligent Investment Firms in Singapore 185 Don’t Ask about Another Lover 186 Rule 8 Peek inside a Pilferer’s Playbook 189 How Will Most Financial Advisers Fight You? 189 The Totem Pole View 197 Is Government Action Required? 200 Rule 9 Avoid Seduction 205 Confession Time 205 Investment Newsletters and Their Track Records 210 High-Yielding Bonds Called “Junk” 213 Fast-Growing Markets Can Make Bad Investments 214 Gold Isn’t an Investment 216 What You Need to Know about Investment Magazines 216 Hedge Funds—The Rich Stealing from the Rich 219 Don’t Buy a Currency-Hedged Stock Market ETF 223 Beware of the Smart Beta Promise 225 Don’t Jump Heavily into Small-Cap Stocks 226 Conclusion 231 About the Author 233 Index 235

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Book SynopsisTwo Bogle Investment Classics in One Elegant Boxed Set John C. Bogle founded Vanguard in 1974, then in the space of a few years, introduced the index mutual fund, pioneered the no-load mutual fund, and redefined bond fund management. This boxed set includes John Bogle on Investing and Bogle on Mutual Funds, now regarded as timeless investment classics, like Bogle himself. Warren Buffett has called him an American hero for his contributions to the investment success of ordinary investors. John Bogle on Investing wraps up the essence of his half-century of knowledge to deepen your understanding and enhance your investment success. Bogle's investing philosophy has remained more or less constant throughout his illustrious career, and this book lays it out so you can learn from the very best. You''ll learn what makes a successful investment strategy, consider the productive economics of long-term investing, and how emotional investment in financial markets is Table of ContentsBogle On Mutual Funds Caveat Emptor Index xxxvii Part I BUILDING BLOCKS 1 Chapter One THE REWARDS OF INVESTING 3 Chapter Two THE RISKS OF INVESTING 24 Chapter Three MUTUAL FUNDS: PRINCIPLES, PRACTICALITIES, PERFORMANCE 48 Part II MUTUAL FUND SELECTION 65 Chapter Four HOW TO SELECT A COMMON STOCK MUTUAL FUND 67 Chapter Five HOW TO SELECT A BOND MUTUAL FUND 97 Chapter Six HOW TO SELECT A MONEY MARKET FUND 120 Chapter Seven HOW TO SELECT A BALANCED MUTUAL FUND 135 Chapter Eight WHERE TO GET MUTUAL FUND INFORMATION 147 Part III NEW PERSPECTIVES ON THREE KEY ISSUES 167 Chapter Nine INDEX FUNDS 169 Chapter Ten MUTUAL FUND COSTS 190 Chapter Eleven TAXES AND MUTUAL FUNDS 209 Part IV PRACTICAL APPLICATION OF INVESTMENT PRINCIPLES 233 Chapter Twelve THE ALLOCATION OF INVESTMENT ASSETS 235 Chapter Thirteen MUTUAL FUND MODEL PORTFOLIOS 259 Chapter Fourteen A MANDATE FOR FUND SHAREHOLDERS 280 Epilogue TWELVE PILLARS OF WISDOM 303 Notes 308 Index 311 Bogle On Mutual Funds: New Perspectives For The Intelligent Investor Caveat Emptor Index xxxvii Part I BUILDING BLOCKS 1 Chapter One THE REWARDS OF INVESTING 3 Chapter Two THE RISKS OF INVESTING 24 Chapter Three MUTUAL FUNDS: PRINCIPLES, PRACTICALITIES, PERFORMANCE 48 Part II MUTUAL FUND SELECTION 65 Chapter Four HOW TO SELECT A COMMON STOCK MUTUAL FUND 67 Chapter Five HOW TO SELECT A BOND MUTUAL FUND 97 Chapter Six HOW TO SELECT A MONEY MARKET FUND 120 Chapter Seven HOW TO SELECT A BALANCED MUTUAL FUND 135 Chapter Eight WHERE TO GET MUTUAL FUND INFORMATION 147 Part III NEW PERSPECTIVES ON THREE KEY ISSUES 167 Chapter Nine INDEX FUNDS 169 Chapter Ten MUTUAL FUND COSTS 190 Chapter Eleven TAXES AND MUTUAL FUNDS 209 Part IV PRACTICAL APPLICATION OF INVESTMENT PRINCIPLES 233 Chapter Twelve THE ALLOCATION OF INVESTMENT ASSETS 235 Chapter Thirteen MUTUAL FUND MODEL PORTFOLIOS 259 Chapter Fourteen A MANDATE FOR FUND SHAREHOLDERS 280 Epilogue TWELVE PILLARS OF WISDOM 303 Notes 308 Index 311 John Bogle on Investing: The First 50 Years 2015 INTRODUCTION TO THE CLASSIC EDITION OF JOHN BOGLE ON INVESTING: THE FIRST 50 YEARS IX FOREWORD: PAUL A. VOLCKER XXIX INTRODUCTION: WILLIAM T. ALLEN XXXI PREFACE XXXV SOME WORDS OF APPRECIATION XLIII Part I Investment Strategies For The Intelligent Investor 1 Investing in the New Millennium: The Bagel and the Doughnut 5 2 The Clash of the Cultures in Investing: Complexity vs. Simplicity 17 3 Equity Fund Selection: The Needle or the Haystack? 33 4 Risk and Risk Control in an Era of Confidence (or Is It Greed?) 47 5 Buy Stocks? No Way! 66 6 The Death Rattle of Indexing 82 7 25 Years of Indexing: When Active Managers Win, Who Loses? 98 8 Selecting Equity Mutual Funds 108 9 The Third Mutual Fund Industry 122 Part II Taking On The Mutual Fund Industry 10 Mutual Funds: The Paradox of Light and Darkness 141 11 Economics 101: For Mutual Fund Investors . . . For Mutual Fund Managers 153 12 Honing the Competitive Edge in Mutual Funds 168 13 Creating Shareholder Value: BY Mutual Funds . . . or FOR Mutual Fund Shareholders? 180 14 The Silence of the Funds: Mutual Fund Investment Policies and Corporate Governance 196 15 Losing Our Way: Where Are the Independent Directors? 208 Part III Economics And Idealism: The Vanguard Experiment 16 Vanguard—Child of Fortune 221 17 The Winds of Change: The Vanguard Experiment in Internalized Management 231 18 Deliverance 246 19 The Lengthened Shadow, Economics, and Idealism 260 20 On the Right Side of History 270 Part IV Personal Perspectives 21 Changing the Mutual Fund Industry: The Hedgehog and the Fox 291 22 The Majesty of Simplicity 307 23 The Things by Which One Measures One’s Life 312 24 Telltale Hearts 316 25 Press On Regardless 327 Part V The Princeton Thesis The Economic Role of the Investment Company 341 INDEX 451

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Book SynopsisMaster the proven, traditional methods in project management as well as the latest agile practices with Kloppenborg/Anantatmula/Wells' CONTEMPORARY PROJECT MANAGEMENT, 5E. This edition presents project management techniques and expert examples drawn from successful practice and the latest research. All content reflects the knowledge areas and processes of the 6th edition of the PMBOK Guide as well as the domains and principles of the 7th edition of the PMBOK Guide. The book's focused approach helps you build a strong portfolio to showcase project management skills. New features, glossary and an integrated case highlight agile practices, mindset and techniques, while PMP-style questions prepare you for the new 2021 PMP certification exam. You also learn to use Microsoft Project to automate processes. Gain the expertise you need to become a Certified Associate in Project Management (CAPM) or Certified Project Management Professional (PMP) with this edition and MindTap digital resources.Table of ContentsPart I: ORGANIZING PROJECTS. 1. Introduction to Project Management. 2. Project Selection and Prioritization. 3. Chartering Projects. Part II: LEADING PROJECTS. 4. Organizational Capability: Structure, Culture, and Roles. 5. Leading and Managing Project Teams. 6. Stakeholder Analysis and Communication Planning. Part III: PLANNING PROJECTS. 7. Holistic Scope Planning. 8. Scheduling Projects. 9. Resourcing and Accelerating Projects. 10. Budgeting Projects. 11. Project Uncertainty Planning. 12. Project Quality Planning and Project Kick-off. Part IV: PERFORMING PROJECTS. 13. Project Procurement and Partnering. 14. Determining Project Progress and Results. 15. Finishing the Project and Realizing the Benefits. Appendix A: PMP and CAPM Exam Prep Suggestions Appendix B: PMP Exam Content 2021 Outline with CPM 5e Chapter Coverage Appendix C: Answers to Selected Exercises Appendix D: Project Deliverables Appendix E: Strengths Themes as Used in Project Management Glossary Terms consistent the PMBOK�� 6e and 7e Guides; multiple other PMI Guides and Standards; and current agile practice. Index.

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Book Synopsis"Practical, well written, and comprehensive. . . . Read this book cover to cover, or keep it handy as a reference for all aspects of goat care."—Sarah Flack, author of The Art and Science of Grazing This one-of-a-kind guide will empower even novice goat owners, offering expert guidance on maintaining a healthy herd—whether they are dairy, meat, fiber, or pet goats Goats have provided humankind with essential products for centuries; indeed, they bear the noble distinction of being the first domesticated farm animal. From providing milk and meat for sustenance and fiber and hides for clothing and shelter to carrying packs and clearing brush, there isn’t much that goats cannot do. Managing goats successfully requires an understanding of how nature designed them to thrive, including nutritional and psychological needs, as well as how to identify a problem and intercede before it’s too late. For more than a decade, Gianaclis Caldwell and her family have operated Pholia Farm Creamery, an off-grid, raw milk goat cheese dairy. In Holistic Goat Care, Caldwell offers readers a comprehensive guide to maintaining a healthy herd of goats, whether they are dairy goats, meat goats, fiber goats, or pet goats. Holistic Goat Care will empower even novice goat owners to confidently diagnose and treat most of the ailments that goats might experience. For the experienced goat farmer, the book offers a depth of insight and approaches to treatment not found in any other book. Caldwell places special emphasis throughout on holistic, natural, and alternative approaches to caring for goats, including information on: Handling and managing goats using their natural instincts as an asset Developing good farm management practices such as appropriate housing and fencing systems and manure and mortality management Making feeding decisions based on understanding goats’ ruminant digestive system and their evolutionary needs Growing forage and garden crops as feed and utilizing wild browse Troubleshooting health problems based on assessing symptoms Implementing advanced health procedures such as pain control, fecal testing, and transplanting rumen microbes from healthy to sick goats Diagnosing, treating, and preventing more than 75 common goat ailments Whether your herd is two or two hundred, this first-of-its-kind, comprehensive book will help you keep your goats healthy, safe, and productive and give you a deep and enjoyable insight into the wondrous creature that is the goat.Trade Review“In Holistic Goat Care, Gianaclis Caldwell demonstrates that modern, practical, holistic, small-farm methods are the true state of the art. Her unique understanding of goat care—connecting science, real-world farming, and the healing arts—comes alive through her clear and inspiring writing. This much-needed book gifts goat owners with a ready, reliable reference for whatever nature sends their way.”—Fred Walters, editor, Acres U.S.A. magazine“Holistic Goat Care is a rare and refreshing synergy of commonsense goat lore and sound holistic principles—worthy of a place in every goat owner’s library. I am impressed with the book’s layout, as well as the content.”—Richard J. Holliday, DVM, holistic veterinarian; coauthor of A Holistic Vet’s Prescription for a Healthy Herd“Holistic Goat Care is practical, well written, and comprehensive. Giancalis Caldwell covers everything from browse to barns, breeding to birthing, vitamins to vaccination, and parasites to pizzle rot, in an easy-to-read format. The book reflects both her hands-on experience with goats and her extensive knowledge of their physiological needs and their sometimes idiosyncratic behavior. The examples of goat farms in various climates and countries make the information broadly applicable to many regions. With a light touch of humor and a hearty helping of practical advice, Gianaclis shares her depth of knowledge and her appreciation of the role and value of goats in agriculture both currently and historically. Read this book cover to cover, or keep it handy as a reference for all aspects of goat care.”—Sarah Flack, author of The Art and Science of Grazing“The next best thing to learning about goat keeping through years of experience is to read Holistic Goat Care. Gianaclis Caldwell not only provides all the essential details, she frankly describes unhappy events along with successes, to save readers the anguish of making similar mistakes and to demonstrate that sometimes bad things happen even to the most conscientious goat keeper. Rather than dictating a single rigid approach to holistic goat management, Caldwell offers numerous natural and alternative options to help you develop practices that best suit your goals and your herd’s specific needs.”—Gail Damerow, author of The Backyard Homestead Guide to Raising Farm Animals“Holistic Goat Care is far and away the most complete guide to goat keeping I’ve ever seen. Gianaclis Caldwell handles basic care and advanced subjects, such as on-farm necropsies, cud transplants, and scur removal, with equal aplomb. Whether you have two goats or two hundred, you need this book!”—Sue Weaver, author of The Backyard Goat“I wish this book had been around when I started raising goats. Gianaclis Caldwell has a friendly, clear style of writing that makes a huge subject much less daunting. I highly recommend that beginners read Holistic Goat Care before starting out on their own goat adventure. Experienced goat owners will definitely find this book a useful reference as well. As a firm believer in providing holistic and humane care for all my animals, I am pleased to finally find a book that covers this slant for goats.”—Molly Nolte, founder, Molly’s Herbals and FiasCoFarm.com“Holistic Goat Care is an excellent resource for raising healthy goats. Gianaclis Caldwell stresses the importance of preventative medicine, which is a critical aspect of raising goats. The information in this well-written book will be very beneficial for beginners, agriculture-oriented students, veterinary students, and veterinarians. The author stresses the importance of early recognition of conditions and diseases. She also discusses treatment through conventional medicine and alternative or integrative medicine, as well as the use of complementary therapies such as herbal and homeopathic if needed. All sixteen chapters are very informative, and the text is referenced to excellent resources in goat medicine. I believe this book will be an excellent source of information in raising goats.”—Lionel J. Dawson, BVSc, MS, DACT, professor, Center of Veterinary Health Sciences, Oklahoma State University

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Book SynopsisThe Seventeenth Edition of Purchasing and Supply Management provides a comprehensive introduction to the purchasing and supply chain management field, supported by over 45 case studies. Cases cover purchasing and supply chain issues in a variety of settings, from process industries to high tech manufacturing and services as well as public institutions. The text focuses on decision making throughout the supply chain. Based on the conviction that supply managers, in concert with suppliers and distributors, have to contribute to organizational goals and strategies, this edition continues to focus on how to make that mission a reality.Table of ContentsChapter 1: Purchasing and Supply Management Chapter 2: Supply Strategy Chapter 3: Supply Organization Chapter 4: Supply Processes and Technology Chapter 5: Make or Buy, Insourcing, and Outsourcing Chapter 6: Need Identification and Specification Chapter 7: Quality Chapter 8: Quantity and Inventory Chapter 9: Delivery Chapter 10: Price Chapter 11: Cost Management Chapter 12: Supplier Selection Chapter 13: Supplier Evaluation and Supplier Relationships Chapter 14: Global Supply Management Chapter 15: Legal and Ethics Chapter 16: Other Supply Responsibilities Chapter 17: Supply Function Evaluation and Trends

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Book SynopsisJonathan Berk is the A. P. Giannini Professor of Finance at the Graduate School of Business, Stanford University and is a Research Associate at the National Bureau of Economic Research. Before coming to Stanford, he was the Sylvan Coleman Professor of Finance at the Haas School of Business at the University of California, Berkeley. Prior to earning his PhD, he worked as an Associate at Goldman Sachs (where his education in finance really began). Professor Berk's research interests in finance include corporate valuation, capital structure, mutual funds, asset pricing, experimental economics, and labor economics. His work has won a number of research awards including the Stephen A. Ross Prize in Financial Economics, TIAA-CREF Paul A. Samuelson Award, the Smith Breeden Prize, Best Paper of the Year in The Review of Financial Studies, and the FAME Research Prize. His paper, A Critique of Size-Related Anomalies, was selected as one of the 2 best paperTable of ContentsBrief Contents PART 1: Introduction The Corporation and Financial Markets Introduction to Financial Statement Analysis Financial Decision Making and the Law of One Price PART 2: Time, Money, and Interest Rates The Time Value of Money Interest Rates Valuing Bonds PART 3: Valuing Projects and Firms Investment Decision Rules Fundamentals of Capital Budgeting Valuing Stocks PART 4: Risk and Return Capital Markets and the Pricing of Risk Optimal Portfolio Choice and the Capital Asset Pricing Model Estimating the Cost of Capital Investor Behavior and Capital Market Efficiency PART 5: Capital Structure Capital Structure in a Perfect Market Debt and Taxes Financial Distress, Managerial Incentives, and Information Payout Policy PART 6: Advanced Valuation Capital Budgeting and Valuation with Leverage Valuation and Financial Modeling: A Case Study PART 7: Options Financial Options Option Valuation Real Options PART 8: Long-Term Financing Raising Equity Capital Debt Financing Leasing PART 9: Short-Term Financing Working Capital Management Short-Term Financial Planning PART 10: Special Topics Mergers and Acquisitions Corporate Governance Risk Management International Corporate Finance

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Book SynopsisHOW DOES MAGIC HAPPEN? The Ogilvy advertising legend—“one of the leading minds in the world of branding” (NPR)—explores the art and science of conjuring irresistible products and ideas.Sutherland, the legendary Vice Chairman of Ogilvy, uses his decades of experience to dissect human spending behavior in an insanely entertaining way. Alchemy combines scientific research with hilarious stories and case studies of campaigns for AmEx, Microsoft and the like. This is a must-read. —Entrepreneur (Best Books of the Year)Why is Red Bull so popular, though everyone—everyone!—hates the taste? Humans are, in a word, irrational, basing decisions as much on subtle external signals (that little blue can) as on objective qualities (flavor, price, quality). The surrounding world, meanwh

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Book Synopsis'This book is a must for anyone involved in organizational coaching' Adrian Moorhouse, Managing Director, Lane4 & Olympic Gold MedallistCoaching the Team at Work 2 is the result of research over 20 years with practising team coaches and with major corporations around the world. It recognises that in a complex and constantly evolving business and social environment, teams can only keep up if they adapt frequently. But to adapt, they must have clarity about their internal and external systems and how these contribute to or undermine performance. There are multiple aspects of team function that underpins performance - and each influences and is influenced by the others. This revised edition explores the six most significant aspects:* Purpose and motivation* Systems and processes relating to external stakeholders* Relationships, especially within the team* Systems and processes relating to internal functions (such as quality and decision-making)* Learning (how the team adapts to keep up with the pace of change)* Leadership (how the functions of leadership are exercised within the team)When these aspects are aligned, a team can perform at its best; but when any one or more of the aspects is malfunctioning, the result is underperformance.This book helps team coaches develop their skills to support teams in understanding these complex dynamics and, as a result, in developing more effective ways of working together.Trade ReviewThis book is a must for anyone involved in organizational coaching. It gives a framework for team coaching that will significantly move our industry forward. As someone whose career has moved from one application of coaching (in sport), to another (now, in business), it has added further understanding to a lifelong journey! -- Adrian Moorhouse, Managing Director, Lane4 & Olympic Gold MedallistDavid's new book is practical and pragmatic and brings in a wealth of research and experience while remaining very readable. -- Myles Downey, author of Effective Coaching and Director of Studies at The School of CoachingClear and direct, packed with useful and practical advice on how to develop coaching processes to ensure increased effectiveness, whether as a coach, a manager, or a member of the board. -- Jan Kingsley, Director of Corporate Services, European Foundation for Management Development (EFMD)

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Book Synopsis Today’s projects are more challenging than ever—and project managers need all the help they can get to succeed amid shifting priorities, budget cuts, interruptions, and other obstacles. Now in its third edition, The Project Management Tool Kit is a must-have strategic partner, filled with step-by-step guidance that will enable managers to get complex projects completed on time and on budget. Extensively updated and revised to reflect the latest changes to A Guide to the Project Management Body of Knowledge (PMBOK® Guide), this results-oriented resource offers 100 powerful, practical tips and techniques in areas including: Scope planning • Schedule development and adjustment • Cost estimating and control • Communications • Defining and using project metrics • Decision making and problem solving • Motivatio

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Book SynopsisInsightful, enlightening and thought-provoking, leading Premier League lawyer Daniel Geey lifts the lid on the inner workings of modern football. Whether it is a manager being sacked, the signing of a new star player, television rights negotiations, player misconduct or multi-million-pound club takeovers, lawyers remain at the heart of all football business dealings. Written by leading Premier League lawyer Daniel Geey, who has dealt with all these incidents first hand, this highly accessible book explores the issues--from pitch to boardroom--that shape the modern game and how these impact leagues, clubs, players, and fans.Featuring insider anecdotes and expert contributions, Done Deal provides football fans with a fresh and authoritative perspective on all off-field football matters.Trade ReviewIt's a pleasure to work with Daniel and he has a great understanding of the football industry. His book should be a must read for football fans. * Freddie Ljungberg *Required reading… Done Deal does a full and comprehensive job of explaining the myriad complexities behind the game’s biggest transfer deals… An enlightening read on finances at football’s top tables. * FourFourTwo *Fascinating, brilliant and mind-boggling at times, this book takes you behind the scenes of football. What happens on the pitch is only part of the story. Done Deal is essential reading if you want to get close to the full picture. -- Tony Evans * Evening Standard and ESPN *Done Deal is a testament not only to Daniel's vast knowledge on his subject, but also to his ability to present even the most complex ideas in a clear and vivid way. -- Gianluca VialliOne of the most sought-after advisers for players, agents and clubs. * Financial Times *A myth-busting and hugely entertaining look at the ever more complex machinations of the beautiful game. Essential. -- Raphael HonigsteinIf you want to know and understand how football really works, this is the book for you. -- Guillem BalaguéTable of ContentsForeword by Gianluca Vialli The changing game 1. The football ecosystem 2. Player transfers and contracts 3. Agents 4. Clubs 5. Youth development 6. Managers 7. Footballers and managers behaving badly 8. The global game 9. Football broadcasting Extra time About the author Acknowledgements Index

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Book SynopsisThe traditional annual budgeting process--characterized by fixed targets and performance incentives--is time consuming, overcentralized, and outdated. Worse, it often causes dysfunctional and unethical managerial behavior. Based on an intensive, international study into pioneering companies, Beyond Budgeting offers an alternative, coherent management model that overcomes the limitations of traditional budgeting. Focused around achieving sustained improvement relative to competitors, it provides a guiding framework for managing in the twenty-first century.Table of ContentsAcknowledgments; Foreword; Introduction: Toward a New General Management Model; Part I The Promise of Beyond Budgeting; 1. The Annual Performance Trap; 2. Breaking Free; Part II The First Beyond Budgeting Opportunity: Enabling Adaptive Management; Processes; 3. How Four Organizations Introduced Adaptive Processes; 4. Principles and Practices; 5. Insights into Implementation; Part III The Second Beyond Budgeting Opportunity: Enabling Radical Decentralization; 6. How Four Organizations Have Radically Decentralized; 7. Leadership Principles; 8. Embedding the Principles in the Management Culture; Part IV Realizing the Full Promise of Beyond Budgeting; 9. The Roles of Systems and Tools; 10. The Vision of a Management Model Fit for the Twenty-First Century; Glossary; Notes; Index

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Book SynopsisWorld-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolu­tion, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wear­able sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manu­facturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history.   He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individu­als. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frame­works that advance progress.

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Book SynopsisA SUNDAY TIMES BESTSELLER PRESENTER OF THE BBC RADIO 4 SERIES 'HOW TO STEAL A TRILLION' SHORTLISTED FOR THE ORWELL PRIZE 2019 SUNDAY TIMES BUSINESS BOOK OF THE YEAR AN ECONOMIST POLITICS AND CURRENT AFFAIRS BOOK OF THE YEAR A DAILY MAIL AND TIMES BOOK OF THE YEAR 'You cannot understand power, wealth and poverty without knowing about Moneyland.' Simon Kuper, New Statesman 2019: democracy is eating itself, inequality is skyrocketing, the system is breaking apart. Why? Because in 1962, some bankers in London had an idea that changed the world. That idea was called 'offshore'. It meant that, for the first time, thieves could dream big. They could take everything. Join investigative journalist Oliver Bullough on a journey into the hidden world of the new global kleptocrats. See the poor countries where public money is stolen and the rich ones where it is laundered and invested. Watch the crooks at work and at play, and meet their respectable, white-collar enablers. Learn how the new system works and begin to see how we can tackle it.Trade ReviewEye-opening and essential ... Bullough has provided a model for how to tell a gripping and comprehensible story about a complex and crucial subject. You cannot understand power, wealth and poverty without knowing about Moneyland. -- Simon Kuper * New Statesman *If you want to know why international crooks and their eminently respectable financial advisors walk tall and only the little people pay taxes, this is the ideal book for you. Every politician and moneyman on the planet should read it, but they won't because it's actually about them. -- John le Carré, author of A Legacy of SpiesCorruption undermines democracy, weakens institutions and erodes trust, it destroys lives and impoverishes millions. Moneyland starts from that truth and tells London's part of that story ... This important book shows clearly that foreign policy isn't about foreigners, it's about us. -- Tom Tugendhat, Chair of the Foreign Affairs Select CommitteeA concise, confident book ... pacy, clever and entertaining ... if you still have any illusions about the wonders of liberated capitalism, Moneyland will probably cure you. -- Andy Beckett * Guardian *A darkly fascinating ride. -- John Arlidge * Sunday Times *There are few people who know the world of illicit finance and money laundering like Oliver Bullough. He takes us on a journey through the maze of complicity and criminality that will upend all your confidence in the institutions that should be protecting us. -- Bill Browder, author of Red Notice: How I became Putin's No. 1 EnemyYou cannot understand power, wealth and poverty without knowing about Moneyland. -- Simon Kuper * New Statesman *This is meticulously researched and engagingly told, and reveals the horror and scale of dirty money flowing around the world. The central role played by the UK and jurisdictions associated with the British family mean that every person concerned about corruption and fairness in the UK should read this book - and then campaign and act. -- Margaret Hodge, MPA great guide to a country you can't afford to visit but which is all around you. -- Richard Brooks, author of Bean CountersUnputdownable. Funny, tragic and explains the world. I hope it helps change it, too. -- Peter Pomerantsev, author of Nothing Is True and Everything is PossibleJaw-dropping and deeply unsettling. Oliver Bullough provides a sobering and brilliant account of how piracy on an epic-scale is alive and well in the 21st century. A must-read. Simple as that. -- Peter Frankopan, author of The Silk RoadsPraise for Let Our Fame Be Great: With this impassioned volume [Bullough] has struck a blow for the glory of the Caucasus and helped to give a voice to the voiceless. -- Justin Marozzi * Financial Times *Praise for The Last Man in Russia: The Last Man in Russia might be compared to Colin Thubron's Among the Russians - perhaps the last book in English to come so close to pinning down the Russianness of Russia. -- Mary Dejevsky * Independent *The Last Man in Russia is distinguished by the excellence of its writing and its lucid, unsparing gaze. * Daily Telegraph *

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