Finance and accounting Books

Book SynopsisTrading for a Living Successful trading is based on three Ma s: Mind, Method, and Money.Table of ContentsPartial table of contents: Trading--The Last Frontier. The Odds Against You. INDIVIDUAL PSYCHOLOGY. Fantasy Versus Reality. Self-Destructiveness. Trading Lessons from AA. Winners and Losers. MASS PSYCHOLOGY. What Is the Market?. The Market Crowd and You. Managing Versus Forecasting. CLASSICAL CHART ANALYSIS. Support and Resistance. Trendlines. Chart Patterns. COMPUTERIZED TECHNICAL ANALYSIS. Moving Averages. The Directional System. Williams %R. Relative Strength Index. THE NEGLECTED ESSENTIALS. Volume-Based Indicators. Herrick Payoff Index. STOCK MARKET INDICATORS. New High-New Low Index. PSYCHOLOGICAL INDICATORS. Consensus Indicators. NEW INDICATORS. Elder-Ray. TRADING SYSTEMS. Triple Screen Trading System. Channel Trading Systems. RISK MANAGEMENT. Money Management. Afterword. Sources. Index.

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Book SynopsisDramatically improve inventory accuracy with bestselling author Steven Bragg''s step-by-step guidelines Inventory Accounting is a comprehensive, step-by-step guide to setting up an inventory accounting system and keeping it running at maximum efficiency. This hands-on book provides accounting professionals with essential information on how to: * Set up an accounting system that efficiently handles accumulating inventory costs, summarizing accounts, and standard journal entries used to record transactions * Use best practices to increase the efficiency of inventory-tracking and costing functions * Install unique controls to combat inventory fraud * Implement a step-by-step checklist of activities for inventory counting procedures * Save hours of valuable time researching various GAAP reference manuals * Adapt inventory tracking and costing systems to accommodate a variety of manufacturing systems Spanning the entire spectrum Table of ContentsPreface. About the Author. Chapter 1. Inventory Data Collection. Chapter 2. Inventory and Manufacturing Systems. Chapter 3. Inventory Control Systems. Chapter 4. Inventory Fraud. Chapter 5. Inventory Measurements and Internal Reports. Chapter 6. Budgeting for Inventory. Chapter 7. LIFO, FIFO, and Average Costing. Chapter 8. The Lower of Cost or Market Calculation. Chapter 9. Applying Overhead to Inventory. Chapter 10. Joint and By-Product Costing. Chapter 11. Obsolete Inventory. Chapter 12. Inventory Transaction. Chapter 13. IRS Inventory Rules. Chapter 14. Counting Inventory. Chapter 15. Inventory Best Practices. Chapter 16. Inventory Transfer Pricing. Appendix A: Dictionary of Inventory Terms.

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Book SynopsisCapital Group is one of the largest investment management organisations in the world, and yet has always shunned the publicity courted my many other leading institutions. For the first time, Charles Ellis takes you inside one of the most elite and yet private investment firms.Table of ContentsForeword xi Introduction 1 Chapter 1 The Founding 9 Chapter 2 Staying Alive 25 Chapter 3 The Multiple-Counselor System 35 Chapter 4 Organizing the Core 49 Chapter 5 Mutual Fund Distribution 61 Chapter 6 Crossing the Rubicon: Capital Group 91 Chapter 7 Shareholder Services 101 Chapter 8 Acquisitions and Start-Ups 123 Chapter 9 Capital Guardian Trust Company 139 Chapter 10 Global Investing 165 Chapter 11 Emerging Markets 185 Chapter 12 Managing People 201 Chapter 13 Management 223 Chapter 14 Compensation 249 Chapter 15 Investing 265 Afterword 291 Appendix I Summary Statement of Corporate Objectives and Goals 301 Appendix II Outline of Basic Managerial Beliefs 307 Appendix III Growth of the Capital Group Companies, Inc 309 Index 311

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Book SynopsisGetting Rich Your Own Way outlines and explains practical, proven, fast-acting processes and principles that have been used by men and women around the world to move from financial frustration to success and affluence.Table of ContentsPreface. Introduction. 1. Learn How to Become Rich. 2. Become a Money Magnet. 3. Invest for Success. 4. Start with Nothing. 5. Build Your Own Business. 6. Market and Sell Anything. 7. Get the Money You Need. 8. Think and Grow Rich. 9. Learn from the Best. 10. Lead the Field. Index. About the Author.

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Book SynopsisTrump Strategies for Real Estate offers unbeatable insider advice for every serious real estate investor--beginners and old pros alike. For more than twenty--five years, author George Ross has been one of Donald Trump's chief advisors and intimately involved with many of Trump's biggest real estate deals.Table of ContentsForeword By Donald Trump. Preface. Chapter 1. Sell yourself Like Trump: Five Personal Qualities You Need To Succeed in Real Estate. Chapter 2. Think Big: How Trump Chooses Properties to Invest In. Chapter 3. Principles of Negotiation: How Trump Uses Them. Chapter 4. High-Powered Real Estate Negotiation Techniques and Tactics. Chapter 5. The Trump Touch: Create "Sizzle," Glamour, and Prestige to Get Higher-Than-Market Prices for your Properties. Chapter 6. Raising Money: Tactics for Attracting Lenders and Investors. Chapter 7. Get Help From the Best real Estate Specialists You Can Find. Chapter 8. Why Trump Building Projects Are Always On Time and Under Budget. Chapter 9. Trump Marketing Strategies: Selling the "Sizzle" Sells the Product. Chapter 10. How to Manage Property Like Trump: Treat It As A Customer Service Business. Chapter 11. Holding Strategies and Exit Strategies. Index. About the Author.

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Book SynopsisThe author offers practical straightforward guidance to modern methods of asset allocation. Explains why each stage in the business cycle--including recession--has its profitable investment strategy and provides various techniques for tracking the cycle in order to choose appropriate investments. A must-have for investors seeking guidance for the unknown changes ahead.Table of ContentsDiversification: The Medicine for Sleepless Nights. Securities in the Asset Allocation Mix. Mutual Funds. The Power of Compounding. Manage Risk, and the Profits Take Care of Themselves. The Business Cycle and Asset Allocation. Tracking the Typical Cycle. Asset Allocation as the Cycle Unwinds. Tracking the Stages: Market Action. Tracking the Stages: Business Cycle Benchmarks. Gold and the Business Cycle. Allocating Assets for Your Personal Investment Objectives. Conclusion. Appendices. Index.

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Book SynopsisThe Applied Mergers and Acquisitions Workbook provides a useful self-training study guide for readers of Applied Mergers and Acquisitions who want to review the drivers of M&A success and failure. Useful review questions as well as problems and answers are provided for both professionals and students.Table of ContentsIntroduction to the Workbook. PART ONE: QUESTIONS. Chapter 1: Introduction and Executive Summary. Chapter 2: Ethics in M&A. Chapter 3: Does M&A Pay? Chapter 4: M&A Activity. Chapter 5: Cross-Border M&A. Chapter 6: Strategy and the Uses of M&A to Grow or Restructure the Firm. Chapter 7: Acquisition Search and Deal Origination: Some Guiding Principles. Chapter 8: Due Diligence. Chapter 9: Valuing Firms. Chapter 10: Valuing Options. Chapter 11: Valuing Synergies. Chapter 12: Valuing the Firm across Borders. Chapter 13: Valuing the Highly Levered Firm, Assessing the Highly Levered Transaction. Chapter 14: Real Options and Their Impact on M&A. Chapter 15: Valuing Liquidity and Control. Chapter 16: Financial Accounting for Mergers and Acquisitions. Chapter 17: Momentum Acquisition Strategies: An Illustration of Why Value Creation Is the Best Financial Criterion. Chapter 18: An Introduction to Deal Design in M&A. Chapter 19: Choosing the Form of Acquisitive Reorganization. Chapter 20: Choosing the Form of Payment and Financing. Chapter 21: Framework for Structuring the Terms of Exchange: Finding the “Win-Win” Deal. Chapter 22: Structuring and Valuing Contingent Payments in M&A. Chapter 23: Risk Management in M&A. Chapter 24: Social Issues. Chapter 25: How a Negotiated Deal Takes Shape. Chapter 26: Governance in M&A: The Board of Directors and Shareholder Voting. Chapter 27: Rules of the Road: Securities Law, Issuance Process, Disclosure, and Insider Trading. Chapter 28: Rules of the Road: Antitrust Law. Chapter 29: Documenting the M&A Deal. Chapter 30: Negotiating the Deal. Chapter 31: Auctions in M&A. Chapter 32: Hostile Takeovers: Preparing a Bid in Light of Competition and Arbitrage. Chapter 33: Takeover Attack and Defense. Chapter 34: The Leveraged Restructuring as a Takeover Defense: The Case of American Standard. Chapter 35: Communicating the Deal: Gaining Mandates, Approval, and Support. Chapter 36: Framework for Postmerger Integration. Chapter 37: Corporate Development as a Strategic Capability: The Approach of GE Power Systems. Chapter 38: M&A “Best Practices”: Some Lessons and Next Steps. PART TWO: ANSWERS. Chapter 1: Introduction and Executive Summary. Chapter 2: Ethics in M&A. Chapter 3: Does M&A Pay? Chapter 4: M&A Activity. Chapter 5: Cross-Border M&A. Chapter 6: Strategy and the Uses of M&A to Grow or Restructure the Firm. Chapter 7: Acquisition Search and Deal Origination: Some Guiding Principles. Chapter 8: Due Diligence. Chapter 9: Valuing Firms. Chapter 10: Valuing Options. Chapter 11: Valuing Synergies. Chapter 12: Valuing the Firm across Borders. Chapter 13: Valuing the Highly Levered Firm, Assessing the Highly Levered Transaction. Chapter 14: Real Options and Their Impact on M&A. Chapter 15: Valuing Liquidity and Control. Chapter 16: Financial Accounting for Mergers and Acquisitions. Chapter 17: Momentum Acquisition Strategies: An Illustration of Why Value Creation Is the Best Financial Criterion. Chapter 18: An Introduction to Deal Design in M&A. Chapter 19: Choosing the Form of Acquisitive Reorganization. Chapter 20: Choosing the Form of Payment and Financing. Chapter 21: Framework for Structuring the Terms of Exchange: Finding the “Win-Win” Deal. Chapter 22: Structuring and Valuing Contingent Payments in M&A. Chapter 23: Risk Management in M&A. Chapter 24: Social Issues. Chapter 25: How a Negotiated Deal Takes Shape. Chapter 26: Governance in M&A: The Board of Directors and Shareholder Voting. Chapter 27: Rules of the Road: Securities Law, Issuance Process, Disclosure, and Insider Trading. Chapter 28: Rules of the Road: Antitrust Law. Chapter 29: Documenting the M&A Deal. Chapter 30: Negotiating the Deal. Chapter 31: Auctions in M&A. Chapter 32: Hostile Takeovers: Preparing a Bid in Light of Competition and Arbitrage. Chapter 33: Takeover Attack and Defense. Chapter 34: The Leveraged Restructuring as a Takeover Defense: The Case of American Standard. Chapter 35: Communicating the Deal: Gaining Mandates, Approval, and Support. Chapter 36: Framework for Postmerger Integration. Chapter 37: Corporate Development as a Strategic Capability: The Approach of GE Power Systems. Chapter 38: M&A “Best Practices”: Some Lessons and Next Steps.

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Book SynopsisPraise for Foreign Exchange Tim Weithers starts by telling the reader that foreign exchange is not difficult, just confusing, but Foreign Exchange: A Practical Guide to the FX Markets proves that money is much more exciting than anything it buys. This useful book is a whirlwind tour of the world''s largest market, and the tour guide is an expert storyteller, inserting numerous fascinating insights and quirky facts throughout the book. -John R. Taylor, Chairman, CEO and CIO, FX Concepts The book reflects the author''s doctorate from the University of Chicago, several years'' experience as an economics professor, and, most recently, a very successful decade as an executive at a huge international bank. These fundamental ingredients are seasoned with bits of wisdom and experience. What results is a very tasty intellectual stew. -Professor Jack Clark Francis, PhD, Professor of Economics and Finance, Bernard Baruch College In this book, TimTable of ContentsPreface. Acknowledgments. CHAPTER 1: Trading Money. Introduction. Trading Money. The Roles Money Plays. The Major Currencies. Some Interesting Questions. Appendix: Countries, Currencies, and ISO Codes. CHAPTER 2: Markets, Prices, and Marketmaking. What Is a “Market”? What Is a “Price”? Buyers and Sellers. Marketmaking. Summary. CHAPTER 3: Interest Rates. What Are “Interest Rates”? Inflation. Day Count or Day Basis. Compounding. Discounting. Types of Interest Rates. Interest Rates in the Real World. CHAPTER 4: Brief History of Foreign Exchange. Historical Background. The FX Markets Today. The Regulatory Environment and Central Bank Intervention. Summary. CHAPTER 5: The Foreign Exchange Spot Market. The Spot Market. Spot FX Quoting Conventions. Economic Interpretation. Purchasing Power Parity. Cross Rates and Triangular Arbitrage in the Spot Market. The Bid–Ask Spread in Foreign Exchange. Timing. Settlement. Market Jargon. “The Best Arbitrage Around!” CHAPTER 6: Foreign Exchange Forwards. Introduction to Forwards and Forward Pricing. Foreign Exchange Forwards and Forward Pricing. Interest Rate Parity (Covered Interest Arbitrage). FX Spot–Forward Arbitrage. FX Forward Price Quotes and Forward Points. Timing. Off-Market Forwards. Foreign Exchange Forwards in the Real World. CHAPTER 7: Foreign Exchange Futures. Background. Futures versus Forwards. Foreign Exchange Futures Contract Specifications. Margin. Why Use Futures? Options on FX Futures. Summary. CHAPTER 8: Foreign Exchange Swaps or Cross-Currency Swaps or Cross-Currency Interest Rate Swaps or . . . . Introduction. FX Spot-Forward Swaps. Cross-Currency Swaps or FX Cross-Currency Interest Rate Swaps or FX Bond Swaps. Summary. CHAPTER 9: Foreign Exchange Options. Option Basics. Equity Options. Put-Call Parity with Equity Options. In-the-Money, At-the-Money, and Out-of-the-Money. Theoretical Option Value and Option Risk Measures (“The Greeks”). Foreign Exchange Options. Put-Call Parity in Foreign Exchange. Perspective Matters. FX Option Premium. Volatility. Uses and Strategies. Appendix: Theoretical Option Valuation. The Binomial Model. The Black–Scholes/Garman–Kohlhagen Model. The Garman–Kohlhagen Option Risk Measures or “Greeks”. CHAPTER 10: Exotic Options and Structured Products. What Is an Exotic Option? Nonstandard Options. Digital or Binary Options. Barrier Options. Other Exotic Options. FX-Linked Notes. CHAPTER 11: The Economics of Exchange Rates and International Trade. Money versus Currency. Types of FX Exposures. Fixed versus Floating Exchange Rates. Implications of Monetary Policy. Trade Deficits: A Curse or a Blessing. Politics and Economics. CHAPTER 12: Currency Crises. The End of Bretton Woods. Bankhaus Herstatt. The ERM Crisis of 1992. The Asian Crisis of 1997. The Russian Crisis of 1998. The Turkish Lira Crisis of 2001. The Argentinean Peso Crisis of 2002. Summary. CHAPTER 13: Technical Analysis. Introduction. What Is Technical Analysis? Methods of Technical Analysis. Technical Analysis in Foreign Exchange. Technical Analysis Today. Summary. CHAPTER 14: Where Do We Go From Here? CHAPTER 15: Conclusion. APPENDIX. Precious Metals. Answers to the Chapter Exercises. Notes. References. About the Author. Index.

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Book SynopsisIt's well established that interest rates significantly impact the stock market. This is the first book that definitively explores the interest rate/stock market relationship and describes a specific system for profiting from the relationship.Table of ContentsAcknowledgments. Introduction. PART I: Yield Curve Analysis. Chapter 1: Demystifying the Investment World. Chapter 2: Back of the Envelope Forecast Model. Chapter 3: Money Markets Matter. Chapter 4: Long-Term Bonds Give Advance Warning. Chapter 5: Expected Returns for the Stock Market. Chapter 6: Bond Quality Spreads. Chapter 7: Federal Funds Rates. Chapter 8: Summary of Yield Curve Analysis. PART II: Technical Analysis. Chapter 9: Market Breadth: Advancing Issues in the Dow. Chapter 10: The Volatility Index. Chapter 11: The Put/Call Ratio. Chapter 12: Moving Averages. Chapter 13: Using Moving Averages: The MACD Line. Chapter 14: Leverage: Short Positions and Margin Debt. Chapter 15: Summary of Technical Analysis. PART III: Cultural Indicators. Chapter 16: Changing Standards of Feminine Beauty. Chapter 17: Demographics. Chapter 18: Corporate Spending. Chapter 19: War and Rumors of War. Chapter 20: Summary of Cultural Indicators. PART IV: Choosing Investments. Chapter 21: Asset Classes. Chapter 22: Mutual Funds. Chapter 23: Exchange-Traded Funds. Chapter 24: Security Selection. Chapter 25: Final Summary. PART V: Capitalism at Work. Chapter 26: Outrageous Wall Street Stories. Chapter 27: America! America! God Shed His Grace on Thee. APPENDIXES. 2.1 Yield Curves and the S&P 500 Index, 1960–2004. 2.2 Chapter 2 Return Calculations. 3.1 U.S. Treasury Bill Spreads, 1960–2004. 3.2 Chapter 3 Return Calculations. 6.1 Speculative Bond Spreads (Ba1 and Lower Rated), 1991–2003. 7.1 Federal Funds Rates during 1987, 1998, 2001 Bear Markets. 7.2 Chapter 7 Return Calculations. 8.1 Ten-Year Note Total Return Index, 1960–2004. 9.1 All 30 Dow Industrial Stocks Fell on July 19, 2002. 9.2 Chapter 9 Return Calculations. 16.1 Playmate of the Year, S&P 500 Index, and the Russell 2000 Index, 1960–2000. 16.2 Monthly Playmates and the S&P 500 Index, 1982–2004. 19.1 Gross Domestic Product and War, 1800–2004. 19.2 S&P 500 Index and War, 1800–2004. 19.3 War in Iraq and the S&P 500 Index, 1990–1991. 19.4 War in Iraq and the S&P 500 Index, 2002–2003. 19.5 Chapter 19 Return Calculations, 1960–2002. 20.1 Part Three Return Calculations, 1960–2005. 21.1 Changes in Housing Prices, 1970–2004. 21.2 Returns Including Treasury Bills, 1960–2004. 21.3 Year-End Prices of Gold, 1800–2004. 21.4 Returns Including Gold, 1974–2004. 21.5 Euro Exchange Rates and U.S. Business Cycles, 1969–2004. 23.1 Gold and Nasdaq Return Calculations, 1974–2004. 23.2 Nasdaq Composite, 1984–2005. 24.1 Nasdaq and Centex Return Calculations, 1990–2005. 24.2 Nasdaq and Placer Dome Return Calculations, 1990–2005. Sources and Suggested Reading. Index. About the Author.

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Book SynopsisActivist hedge fund managers represent a small part of the $1.5 trillion hedge fund industry, but their approach is causing a stir among traditional managers and the investment community because they are shaking up the corporate establishment and making money for their investors. These types of managers are here to stay and Extreme Value Hedging tells the story of their rise to power in the U.S. and how they are spreading their influential gospel around the globe to places like China, Ukraine, South Korea and Sweden. Author Ronald D. Orol has a unique understanding of this world and through this book he shares his unparalleled insights in an easy to comprehend manner. He discusses everything from activist investor efforts to breakup the clubby insider world of corporate boardrooms to their deal-making or breaking pressure tactics and courtroom battles. Orol skillfully makes his case for each subject by offering revelations and examples from insiders like Ralph Whitworth, (Relational InTable of ContentsPreface ix Acknowledgments xvii Introduction xxi Part One: From Raiders to Activists and Everything in Between 1 Chapter 1: Growth of Activism and Why Corporate Raiders Aren’t Around Anymore 3 Chapter 2: Nuts and Bolts: How Activists Became Who They Are Today 25 Chapter 3: The Pack: How Activists Are Working Together (But Not Offi cially) 53 Chapter 4: How Activists Use Litigation to Pursue Their Agenda 75 Chapter 5: Why Activists Target Certain Corporations and Leave Others Alone 89 Chapter 6: Overperked and Overpaid: The Impact of Activists on Executive Compensation 103 Chapter 7: Hedge Specialization: Good or Bad? 117 Chapter 8: Regulation and Activists: How the Securities and Exchange Commission Helps (or Hurts) Activists 135 Part Two: Institutional Investors and Activists 155 Chapter 9: Institutional Investors on Activist Hedge Funds: Love'em or Hate'em? 157 Chapter 10: Activists Taking on Large Corporations Must Have Institutional Support 163 Chapter 11: Institutions and Activist Hedge Funds: Breaking Up Deals Together Around the World 173 Chapter 12: Just Vote No and No and No Again 181 Chapter 13: Institutions Changing Corporate Bylaws so Activist Hedge Funds Can Get Down to Business 191 Chapter 14: Can’t Be Them? Then Fund Them 201 Chapter 15: Institutions Behaving Like Activist Hedge Fund Managers 209 Part Three: Activism 2.0 217 Chapter 16: Technology, Communications, and Activists: Gary Lutin, Eric Jackson, and Anne Faulk 219 Chapter 17: When Is an Activist Fund Really a Private Equity Fund, and What’s the Difference? 231 Chapter 18: Funds of Hedge Funds Stake Out Activists 247 Chapter 19: Distressed Investing: How Activist Managers Buy Debt and Provoke Companies 263 Chapter 20: Hedge Activists in Western Europe, Asia, and Canada 271 Chapter 21: East Meets West: Hedge Activism Goes Global to Emerging Markets 299 Chapter 22: Value Investing versus Activism: Which One Is Better? 319 Conclusion: Saturation or No Saturation? 333 Notes 339 About the Author 361 Index 363

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Book SynopsisA how to guide to avoiding the mistakes ineffective financial advisors most often make Based on a 15-year consulting program that author Steve Moore has led for financial advisors, Ineffective Habits of Financial Advisors (and the Disciplines to Break Them): A Framework for Avoiding the Mistakes Everyone Else Makes details proven techniques which allow advisors to transform their business into an elite practice: business analysis, strategic vision, exceptional client service, and acquiring high net worth clients. Told through the story of a purely fictional and completely average financial advisor, each chapter begins with an ineffective habit that is then countered with a discipline that improves business results and adds value. The book Details a step-by-step strategy for working through current clients, rather than relying on cold calling to form new relationships Includes anecdotes collected through both personal experience and storiesTable of ContentsForeword x Introduction: Setting the Stage xiii Business Disciplines xvii Ineffective Habits of Financial Advisors and the Disciplines to Break Them xviii The Framework of the Book xxi Insights xxi Decisions xxiii Actions xxiv Acknowledgments xxv Chapter 1 Stop Living Their Dream and Start Living Your Dream 1 The First Ineffective Habit: Living Their Dream 1 The First Discipline: Start Living Your Dream 3 Insights 4 Purpose: The Primary Reason for the Work You Do 4 Business Goals: Specific Objectives That Support Your Purpose 6 Guiding Principles: The Rules That Guide Daily Decision Making 23 Vivid Description: A Narrative of the Business Success You Intend to Create 29 Decisions 32 Determining Your Purpose 32 Determining Your Business Goals 33 Determining Your Guiding Prinicples 33 Determining Your Vivid Description 33 Determining How You Plan to Keep the Dream Alive 34 Actions 35 Chapter Summary 37 Chapter 2 Stop Focusing on Quantity of Clients and Start Focusing on Quality of Clients 41 The Second Ineffective Habit: Focusing on Quantity of Clients 41 The Second Discipline: Start Focusing on Quality of Clients 43 Insights 43 Target Market 44 Service Focus 51 Competitive Differentiation 51 Decisions 60 The Common Sense Principle 60 Actions 61 Chapter Summary 62 Chapter 3 Stop Hoarding Unprofitable Clients and Start Disengaging Unprofitable Clients 65 The Third Ineffective Habit: Hoarding Unprofitable Clients 65 The Third Discipline: Start Disengaging Unprofitable Clients 67 Insights 68 Segment 1: The 20 to 40 Percent That Represents 1 Percent of Revenue 73 Segments 2 and 3: Others You Are Considering for Disengagement 77 Decisions 81 Actions 81 Chapter Summary 83 Chapter 4 Stop Providing Only Investment Advice and Start Providing Wealth Management Advice 85 The Fourth Ineffective Habit: Providing Only Investment Advice 85 The Fourth Discipline: Start Providing Wealth Management Advice 87 Insights 87 Start Providing Your Top 20 Percent with Wealth Management Advice 89 Step 1: Determine the Clients to Reengage with Wealth Management 90 Step 2: Have a Deep Re-fact Meeting with Your Clients 91 Step 3: Financial Planning 97 Step 4: The Wealth Management Solution 98 Step 5: Present the Wealth Management Solution—The Financial Vision Document and Client Engagement Roadmap 106 Decisions 107 Actions 108 Chapter Summary 110 Chapter 5 Stop Delivering Only Investment Reviews and Start Delivering WOW Wealth Management Reviews 113 The Fifth Ineffective Habit: Delivering Only Investment Reviews 113 The Fifth Discipline: Start Delivering WOW Wealth Management Reviews 116 Insights 117 Client Needs Analysis 118 Client Satisfaction Window 119 Building the WOW Review System 132 Decisions 136 WOW Wealth Management Review Package 136 Actions 137 Chapter Summary 139 Chapter 6 Stop the Rainmaker Approach and Start the Team Approach 141 The Sixth Ineffective Habit: The Rainmaker Approach 141 The Sixth Discipline: Start the Team Approach 143 Insights 143 Team Core Competency Audit 143 Team Development Evaluation 146 Team Alignment and Empowerment Evaluation 147 Internal Challenges 150 The Organizational Structure of the Team Approach 151 Role Clarity 156 Managing the Team Approach 159 Coaching the Team 168 The Acquisition of Talent 175 Team Incentive Compensation 177 Create a Best-of-Kind Team of Experts and Suppliers 179 Decisions 180 Actions 181 Chapter Summary 183 Chapter 7 Stop Selling to Prospects and Start Selling through Clients 187 The Seventh Ineffective Habit: Selling to Prospects 187 The Seventh Discipline: Start Selling through Clients 189 Insights 189 Client Introductory Event 195 Center-of-Influence Marketing 197 Managing the Sales Pipeline 201 Qualify a Call-In Lead 201 Fact Finding, Planning, Solutions 202 Decisions 203 Actions 203 Chapter Summary 205 Chapter 8 Jack’s Awakening: An Elite Wealth Management Company 209 Bibliography 215 About the Authors 219 Index 221

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Book SynopsisMarket Risk Analysis is the most comprehensive, rigorous and detailed resource available on market risk analysis. Written as a series of four interlinked volumes each title is self-contained, although numerous cross-references to other volumes enable readers to obtain further background knowledge and information about financial applications.Table of ContentsVolume I, Quantitative Methods in Finance. List of Figures. List of Tables. List of Examples. Foreword. Preface to Volume I. I.1 Basic Calculus for Finance. I.2 Essential Linear Algebra for Finance. I.3 Probability and Statistics. I.4 Introduction to Linear Regression. I.5 Numerical Methods in Finance. I.6 Introduction to Portfolio Theory. References. Statistical Tables. Index. Volume II, Practical Financial Econometrics. List of Figures. List of Tables. List of Examples. Foreword. Preface to Volume II. II.1 Factor Models. II.2 Principal Component Analysis. II.3 Classical Models of Volatility and Correlation. II.4 Introduction to GARCH Models. II.5 Time Series Models and Cointegration. II.6 Introduction to Copulas. II.7 Advanced Econometric Models. II.8 Forecasting and Model Evaluation. References. Index. Volume III, Pricing, Hedging and Trading Financial Instruments. List of Figures. List of Tables. List of Examples. Foreword. Preface to Volume III. III.1 Bonds and Swaps. III.2 Futures and Forwards. III.3 Options. III.4 Volatility. III.5 Portfolio Mapping. References. Index. Volume IV, Value at Risk Models. List of Figures. List of Tables. List of Examples. Foreword. Preface to Volume IV. IV.1 Value at Risk and Other Risk Metrics. IV.2 Parametric Linear VaR Models. IV.3 Historical Simulation. IV.4 Monte Carlo VaR. IV.5 Value at Risk for Option Portfolios. IV.6 Risk Model Risk. IV.7 Scenario Analysis and Stress Testing. IV.8 Capital Allocation. References. Index.

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Book SynopsisAn informative guide to market microstructure and trading strategies Over the last decade, the financial landscape has undergone a significant transformation, shaped by the forces of technology, globalization, and market innovations to name a few. In order to operate effectively in today''s markets, you need more than just the motivation to succeed, you need a firm understanding of how modern financial markets work and what professional trading is really about. Dr. Anatoly Schmidt, who has worked in the financial industry since 1997, and teaches in the Financial Engineering program of Stevens Institute of Technology, puts these topics in perspective with his new book. Divided into three comprehensive parts, this reliable resource offers a balance between the theoretical aspects of market microstructure and trading strategies that may be more relevant for practitioners. Along the way, it skillfully provides an informative overview of modern financial markets as well asTable of ContentsPreface ix Acknowledgments xiii PART ONE Market Microstructure 1 CHAPTER 1 Financial Markets: Traders, Orders, and Systems 3 Traders 3 Orders 5 The Bid/Ask Spread 7 Liquidity 9 Market Structures 9 Continuous Order-Driven Markets 10 Oral Auctions 11 Call Auctions 12 Quote-Driven Markets and Hybrid Markets 13 CHAPTER 2 Modern Financial Markets 15 The U.S. Equity Markets 15 The NYSE 15 NASDAQ 16 Alternative Trading Systems 17 European Equity Markets 18 Spot FX Market 19 The U.S. Fixed Income Markets 21 High-Frequency Trading 22 CHAPTER 3 Inventory Models 26 Risk-Neutral Models 26 The Garman’s Model 26 Amihud-Mendelson Model 29 Models with Risk Aversion 29 What Is Risk Aversion? 29 The Stoll’s Model 31 CHAPTER 4 Market Microstructure: Information-Based Models 35 Kyle’s Model 35 One-Period Model 35 Multi-Period and Multi-Insider Models 38 Glosten-Milgrom Model 39 Further Developments 41 CHAPTER 5 Models of the Limit-Order Markets 44 The CMSW Model 44 The Parlour Model 46 The Foucault Model 47 Equilibrium at Zero Volatility 48 Volatility Effect 49 New Developments 50 CHAPTER 6 Empirical Market Microstructure 53 Roll’s Model 53 The Glosten-Harris Model 55 Structural Models 56 Recent Empirical Findings 58 Equity Markets 58 Global FX Spot Market 60 PART TWO Market Dynamics 63 CHAPTER 7 Statistical Distributions and Dynamics of Returns 65 Prices and Returns 65 The Efficient Market Hypothesis 66 Random Walk and Predictability of Returns 68 Recent Empirical Findings 69 Fractals in Finance 72 CHAPTER 8 Volatility 75 Basic Notions 75 Conditional Heteroskedasticity 77 Realized Volatility 79 Market Risk Measurement 81 CHAPTER 9 Agent-Based Modeling of Financial Markets 86 Adaptive Equilibrium Models 87 Non-Equilibrium Price Models 89 The Observable-Variables Model 91 Modeling Efficiency of Technical Trading 94 Modeling the Birth of a Two-Sided Market 95 PART THREE Trading Strategies 101 CHAPTER 10 Technical Trading Strategies 103 Trend Strategies 105 Filter Rules 105 Moving-Average Rules 106 Channel Breakouts 107 Momentum and Oscillator Strategies 109 Complex Geometric Patterns 113 CHAPTER 11 Arbitrage Trading Strategies 117 Hedging Strategies 118 Pair Trading 120 Cointegration and Causality 121 Pair Selection 123 Arbitrage Risks 125 CHAPTER 12 Back-Testing of Trading Strategies 129 Performance Measures 131 Resampling Techniques 133 Bootstrap 133 Markov Chain Monte Carlo 135 Random Entry Protocol 136 Comparing Trading Strategies 137 Bootstrap Reality Check 138 New Developments 139 CHAPTER 13 Execution Strategies 142 Benchmark-Driven Schedules 143 Cost-Driven Schedules 145 Risk-Neutral Framework 145 Risk-Averse Framework 147 The Taker’s Dilemma 151 The Random Walk Model 153 Simulations of the Execution Costs 154 APPENDIX A Probability Distributions 156 Basic Notions 156 Frequently Used Distributions 159 The Uniform Distribution 159 The Binomial Distribution 159 The Poisson Distribution 160 The Normal Distribution 160 The Lognormal Distribution 161 The Cauchy Distribution 162 The Gamma Distribution 162 Stable Distributions and Scale Invariance 162 APPENDIX B Elements of Time Series Analysis 165 The Autoregressive Model 165 The Moving Average Model 167 The ARMA Model 168 Trends and Seasonality 170 Multivariate Time Series 172 Notes 174 References 180 About the Author 190 Index 191

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Book SynopsisTHE APPETITE FOR PENNY STOCKS?stocks that trade for less than $5 a share?is greater than it''s ever been. Due to their potential for rapid change, these investments can be both lucrative and high-risk. Penny stocks that pass the proper analysis can quickly multiply in value, dramatically outperforming every other type of stock, including so-called safe blue chips. Exciting, original, and inspiring, Invest in Penny Stocks is the only book of its kind. The Penny Stock Professional, Peter Leeds introduces you to all the concepts needed to become a successful penny stock investor: risk-free paper trading, tactics of the pros, the best markets, effective due diligence, and much more. He also reveals his 29- point Leeds Analysis, which uncovers the absolute best small companies with strong management teams, great upside potential, proven revenues, patented technologies, and rock-solid fundamentals. These premium penny stocks are more likely to outperform, and less likelyTable of ContentsPreface vii Experience Level Rating System (EL) ix Chapter 1 The Big Business of Penny Stocks 1 Penny Stocks Are Big Business Chapter 2 Getting Started in Penny Stocks 15 Chapter 3 Avoid Your Rough Start 25 My Rocky Start Chapter 4 Leeds Analysis 51 What Leeds Analysis Can Do Chapter 5 Third Level Analysis 59 Welcome to Third Level Analysis Chapter 6 Fundamental Analysis 71 The Importance of Fundamentals Chapter 7 Share Structure 125 Shares—Starting from the Beginning Chapter 8 Technical Analysis 139 Welcome to Technical Analysis Conclusion The Way of Penny Stocks 183 Acknowledgments 187 About the Author 189 Get More from Peter Leeds! 191 Index 193

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Book SynopsisA step--by--step, real world guide to the use of Value at Risk (VaR) models, this text applies the VaR approach to the measurement of market risk, credit risk and operational risk. The book describes and critiques proprietary models, illustrating them with practical examples drawn from actual case studies.Trade Review"This book is a clear explanation of the science and art of the Value at Risk approach to risk measurement. There is no better explication of both the theory underlying the approach and its practical implementation. It is an invaluable tool to anyone involved in any type of risk management." Mark Zandi, Economy.comTable of ContentsList of Figures xiv List of Tables xvi Preface xviii List of Abbreviations xx 1 Introduction to Value at Risk (VaR) 1 2 Quantifying Volatility in VaR Models 21 3 Putting VaR to Work 82 4 Extending the VaR Approach to Non-tradable Loans 119 5 Extending the VaR Approach to Operational Risks 158 6 Applying VaR to Regulatory Models 200 7 VaR: Outstanding Research 233 Notes 236 References 257 Index 270

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Book SynopsisOffers the author's personal options strategies for enhancing trading profits. This guide addresses a myriad of techniques and methods needed for profiting consistently in investment arena.Table of ContentsList of Figures. 1 Option History, Definitions, and Terms. Underlying Instruments. Option Terms. The Cost of an Option. The History of Listed Options. Option Trading Procedures. Electronic Trading. Exercise and Assignment. Futures and Futures Options. Influences on an Option’s Price. Delta. Technical Analysis. 2 An Overview of Option Strategies. Profit Graphs. Outright Option Buying. Using Long Options to Protect Stock. Buying Both a Put and a Call. Selling Options. Spreads. Ratio Strategies. Summary. 3 The Versatile Option. Options as a Direct Substitute for the Underlying. Options as a Proxy for the Underlying. The Effect of Stock Index Futures on the Stock Market. The Effect of Index Futures and Index Option Expiration on the Stock Market. Options as an Insurance Policy. The Collar. Hedging with Over-the-Counter Options. Using Volatility Futures as Portfolio Insurance. Summary. 4 The Predictive Power of Options. Using Stock Option Volume as an Indicator. Using Option Prices as an Indicator. Implied Volatility Can Predict a Change of Trend. The Put–Call Ratio. Futures Options Volume. On Moving Averages. Summary. 5 Trading Systems and Strategies. Incorporating Futures Fair Value into Your Trading. Day-Trading Vehicles. The TICKI Day -Trading System. A Short-Term Trading System. Intermarket Spreads. Other Seasonal Tendencies. Summary. 6 Trading Volatility and Other Theoretical Approaches. Volatility. Delta Neutral Trading. Predicting Volatility. Comparing Historical and Implied Volatility. Trading Implied Volatility. The “Greeks.” Trading the Volatility Skew. The Aggressive Calendar Spread. Using Probability and Statistics in Volatility Trading. Expected Return. Summary. 7 Other Important Considerations. Support Activities. Trading Methodology and Philosophy. Option Trading Philosophy. Summary. Appendix A: Listed Index and Sector Options. Appendix B: Futures Options Terms and Expirations. Appendix C: Option Models. Index.

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Book SynopsisEstate and Trust Administration For Dummies, 2nd Edition (9781119543879) was previously published as Estate and Trust Administration For Dummies, 2nd Edition (9781118412251). While this version features a new Dummies cover and design, the content is the same as the prior release and should not be considered a new or updated product. Your plain-English guide to administering an estate and/or trust As more and more of the population reach senior agesincluding baby boomers, many of whom do not have willsan increasing number of people are being thrust into the role of executor, administrator, personal representative of an estate, or trustee of a trust after the death of a loved one. This updated edition of Estate & Trust Administration For Dummies guides you through the confusing process of administering an estate and/or trust. Settling an estate and administering a trust can be complicated, messy,Table of ContentsIntroduction 1 About This Book 1 Conventions Used in This Book 2 What You’re Not to Read 3 Foolish Assumptions 3 How This Book Is Organized 3 Part 1: Getting Started with Estate and Trust Administration 4 Part 2: Administering an Estate 4 Part 3: Operating a Revocable or Irrevocable Trust 4 Part 4: Paying the Taxes 4 Part 5: The Part of Tens 5 Icons Used in This Book 5 Beyond the Book 6 Where to Go from Here 6 Part 1: Getting Started with Estate and Trust Administration 7 Chapter 1: Operating in a Fiduciary World 9 Identifying the Players 10 Determining an estate’s fiduciaries 10 Knowing who the trustees are 11 Lining up your team of advisors 13 Estate of Change: Delving into Estates 13 Altering the status quo 14 Probating an estate 14 Collecting the estate’s assets 14 Paying expenses and making distributions 15 Tying up the estate’s loose ends 15 Operating a Trust 15 Understanding your duties as trustee 16 Putting assets into trust 16 Putting the trust to work 16 Discovering the purpose of the trust 16 Compiling and organizing trust records 17 Bringing the trust to its conclusion 17 Paying Uncle Sam 17 Compiling the estate tax return 17 Figuring out the income taxes 18 Planning an income tax strategy 18 Whipping together Schedule K-1 18 Chapter 2: Exploring the Ins and Outs of Estates 19 Defining the Estate for Probate Administration Purposes 20 Will Power: Understanding How a Will (Or No Will) Affects an Estate 21 Dying testate 21 Dying intestate 22 Taking a Look at Who Can Inherit 23 Surviving spouse 23 Individuals omitted from the decedent’s will (including intentional disinheritance) 25 The other players: Devisees and legatees 26 Heirs-at-law 26 Defining the Estate for Tax Purposes 27 Transfer taxes 27 Other taxes 30 Chapter 3: Identifying Different Types of Trusts 31 Differentiating for Income Taxes: Grantor versus Non-Grantor Trusts 32 Grantor trusts 32 Non-grantor trusts 33 Intentionally defective grantor trusts 33 Creating Trusts during Lifetime and after Death 34 Trusts created during lifetime 34 Trusts created under a last will 35 Grasping Revocable Trusts 35 Still breathing: Living trusts 36 Tackling Totten Trusts 37 Going incognito: Nominee trusts 38 Understanding Irrevocable Trusts 38 Making gifts to an irrevocable trust 39 Getting the maximum tax benefit out of dying: Marital trusts 40 Protecting the estate tax exemption: Credit shelter trusts 44 Grandpa (or Grandma) knows best: Grandchildren’s trusts 45 Better safe than sorry: Insurance trusts 45 It’s only a name, not a description: Crummey trusts 47 Keeping a finger in the pie: Grantor-retained interest trusts 48 Exploring Charitable Trusts 50 Split-interest charitable trusts 51 Non-operating charitable foundations 52 Owning SubChapter S Shares in Trust 53 Qualified SubChapter S Trusts (QSSTs) 53 Electing Small Business Trusts (ESBTs) 54 Chapter 4: Assembling Your Team Members and Knowing When to Use Them 57 Finding What You Need to Go It Alone 57 Finding an Attorney 59 Knowing where to look 59 Asking the right questions 61 Discussing payment options 62 Finalizing your decision 63 Working with your attorney 63 Hiring a Tax Professional 65 Discovering where to look 65 Discussing payment options 66 Considering Help from Other Pros 66 Determining whether you need an investment advisor 67 Obtaining appraisers where necessary 69 Consulting with other miscellaneous pros 70 Recognizing Malpractice 71 Surveying why malpractice occurs 71 Covering your ass ets 72 Part 2: Administering an Estate 73 Chapter 5: Taking the First Steps after Death 75 Addressing the Immediate Concerns When Someone Dies 76 Honoring anatomical gifts 76 Having an autopsy performed 76 Arranging the Funeral 77 Making important decisions 77 Obtaining copies of the death certificate 82 Understanding How Death Changes Everything about the Decedent’s Assets 83 Bank accounts and the need for funds 83 Powers of attorney 84 Locating the Estate-Planning Documents 84 The Last Will and testament (The Will) 84 Trust agreements and amendments 85 Letters of intent 86 Other documents that dispose of property 86 Notifying Those Who Need to Be Notified 86 Creating Calendars and Files 89 Eyeing what kind of calendar to create 89 Setting up a filing system 90 Chapter 6: Navigating the Probate Process 93 Filing the Last Will with the Probate (Or Equivalent) Court 94 Figuring Out Whether Administration Is Necessary 95 Do you need a temporary executor? 95 Do you need a special administrator? 97 Determining domicile 98 Accessing ancillary administration 99 Deciding What Shape Your Probate Procedure Should Take 100 Taking small estate shortcuts 101 Traveling the traditional probate route 103 Taking Important First Steps after Your Appointment 107 Eyeing the Surviving Spouse’s Rights and Decisions Regarding Property 109 Exercising rights ahead of the provisions of the will 109 Electing against the will 109 Claiming dower 110 Chapter 7: Marshalling and Liquidating Assets 111 Understanding Why You Need to Determine What the Decedent Owned 112 Observing the Obvious: Big-Ticket Items 113 The bricks and mortar: Real estate 113 Things that move: Cars, boats, and cycles 114 Small (and closely held) businesses 114 Tracking Down All the Other Assets 115 Reading the mail 116 Perusing other personal papers 118 Finding the hiding places 118 Emptying the safe deposit box 119 Sleuthing for digital assets and info 120 Checking over prior tax returns 121 Listing Personal and Household Effects 122 Appraising the Property 123 Tangibles 124 Intangibles 125 Real estate 127 Contacting the Employer about Employee Benefits 127 Locating and Collecting Insurance Proceeds 129 Ascertaining Any Other Death Benefits 130 Preparing and Filing the Probate Inventory 132 Liquidating Assets 132 Selling stocks, bonds, and other securities 133 Disposing of real estate 134 Chapter 8: Paying the Debts, Expenses, Bequests, and Devises from the Estate 135 Determining and Paying Debts of the Decedent and Administration Expenses 136 Finding out how and when to pay claims 136 Prioritizing payment 138 Declaring the estate insolvent 140 Informing Potential Beneficiaries of Their Right to Consider Disclaimer 140 Segregating and Distributing Specific Property 142 Treading slowly before distributing 142 Making the distributions 143 Considering tangible property 144 Looking at intangible property 144 Fulfilling bequests of specific dollar amounts 145 Dividing Other Personal Property Equitably 146 Basing division on letter of intent 146 Creating a system for heirs to choose 147 Disposing of unwanted personal property 147 Slicing Up the Residue 147 Chapter 9: Closing the Estate 149 Obtaining Tax Closing Letters 149 Acquiring Releases of Lien for Real Estate 150 Paying Final Administration Expenses 151 Making Final Distributions to Residuary Beneficiaries 152 Preparing and Filing Final Estate Income Tax Returns 153 Readying Accounts for Allowance by the Probate Court 153 Using the appropriate form of accounting 154 Following the proper probate procedures 155 Remembering filing fees 158 Appointing a guardian ad litem, if needed 158 Filing a military affidavit, if necessary 158 Notifying the surety 158 Part 3: Operating a Revocable or Irrevocable Trust 159 Chapter 10: Understanding the Trustee’s Duties 161 Getting Acquainted with the Trust Instrument 162 Creating a plan based on the trust’s terms 162 Identifying the players 163 Reforming the trust 164 Empowering the Trustee 165 Buying and selling assets 165 Determining distributions to beneficiaries 165 Hiring and firing advisors 167 Coloring Inside the Lines: Understanding Fiduciary Duty and Limitations 168 Exercising discretion 168 Obtaining errors and omissions insurance 169 Protecting the Trust’s Assets 169 Diversifying the assets 170 Asking for help 170 Preparing and Filing Annual Income Tax Returns and Accounts 171 Chapter 11: Funding the Trust 173 Putting Assets in Trust during Life 173 Signing It Over: Giving the Trust Asset Ownership 174 Cash and securities 175 Privately held stocks, promissory notes, and limited partnership interests 177 Real estate 178 Life insurance policies 180 Personal and household property in trust 183 Rolling Property into Trust after Death 185 Chapter 12: Investing the Trust’s Assets and Paying Its Expenses 187 Appreciating the Importance of Income and Principal in Trust Administration 188 Defining principal and income 188 Distinguishing between the two 189 Using Investment Advisors Effectively 191 Holding and Diversifying Assets 192 Stocks 193 Bonds 193 Mutual funds 195 Cash needs 197 Real estate 198 Small business stocks 198 Going Green in a Trust 199 Socially conscious 200 Politically aware 200 Looking to the Beneficiaries’ Needs 201 Age 202 Purpose of trust 202 Paying the Trust’s Expenses 204 Trustee’s fees 204 Investment advice 205 Accounting fees 205 Taxes 205 Chapter 13: Paying Trust Beneficiaries 207 Notifying Beneficiaries of the Trust 208 Obtaining addresses and Social Security numbers 208 Verifying dates of birth 209 Determining Scheduled Distributions 209 Figuring out how much to pay 210 Creating a payment schedule 213 Distributing When the Beneficiary Reaches a Specific Age 214 When Beneficiaries Request More Money: Paying Out Extra Distributions 215 Making the Decision to Distribute Discretionally: Eyeing the Trust’s Terms 217 Ensuring health and well-being 217 Paying for education 217 Buying a home 218 Starting a business 219 Using trustee discretion 219 Chapter 14: Creating and Keeping Trust Records 221 Creating a Filing System 221 Getting started: Organizing the right way 222 Keeping the trust instrument handy 224 Compiling correspondence 224 Filing financial records 225 Preserving annual accounts 225 Referencing tax returns 226 Preparing an Initial Inventory and Valuing the Assets 227 Arriving directly from the donor 227 Coming from the donor’s estate 228 Compiling Records of All Transactions 228 Knowing the difference between income and principal 228 Filing income tax returns annually 229 Producing Annual Trust Accounts 230 Assembling the desired information 230 Obtaining assents of beneficiaries 232 Filing with the probate court 232 Chapter 15: Terminating the Trust 235 Distributing All Assets According to the Trust Instrument 235 Calculating final income distributions 236 Holding back funds for final taxes and fees 237 Paying the remaindermen 238 Submitting the Final Income Tax Returns 240 Determining any final tax liability 241 Filing a short-year return 241 Preparing Final Accounting and Obtaining Assents of All Remaindermen 242 Finally finishing a non-probate trust 242 Polishing off a probate trust 243 Dealing with Outliers after the Trust Terminates 244 Part 4: Paying the Taxes 245 Chapter 16: Preparing the Estate Tax Return, Part 1 247 Figuring Out Which Estates Must File 248 Who must file 248 Who actually files Form 706 and when 249 Obtaining a Release from Personal Liability 250 Understanding Some of the Nitty-Gritty Rules for Filing Form 706 251 Where and how to file 251 How to pay the tax 251 Penalties for late filing, late payment, and understatement of valuation 252 Signature and verification 253 Extensions of time to file and pay tax 253 Supplemental documents 255 Completing the Form 706, Pages 1–4 257 Part 1: Decedent and Executor 257 Part 2: Tax Computation 257 Signature of executor(s) 259 Signature of preparer other than the executor 259 Part 3: Elections by the executor 259 Part 4: General Information 262 Part 5: Recapitulation 265 Part 6: Portability of Deceased Spousal Unused Exclusion (DSUE) 265 Being Ready for and Handling an Audit 266 Getting an Estate Tax Closing Letter 267 Chapter 17: Preparing the Estate Tax Return, Part 2 269 Tackling the Most Common Schedules 269 Focusing on real estate: Schedule A 270 Identifying stocks and bonds: Schedule B 271 Addressing mortgages, notes, and cash: Schedule C 276 Considering life insurance: Schedule D 277 Eyeing jointly owned property: Schedule E 278 Considering other property: Schedule F 279 Touching on funeral and administration expenses: Schedule J 281 Recording debts, mortgages, and liens: Schedule K 285 Listing net losses and such: Schedule L 286 Covering bequests to a surviving spouse: Schedule M 287 Recording charitable, public, and similar gifts and bequests: Schedule O 289 Knowing When to Ask for Help 290 Listing transfers during life: Schedule G 290 Exercising powers of appointment: Schedule H 291 Considering annuities: Schedule I 291 Claiming a credit for foreign death taxes: Schedule P 292 Getting a credit for tax on prior transfers: Schedule Q 292 Generation-Skipping Transfer tax: Schedule R 292 Electing a qualified conservation easement exclusion: Schedule U 293 Filing a protective claim for refund: Schedule PC 293 Chapter 18: Filing Income Tax Returns for a Decedent, Estate, or Trust 295 Before You Begin: What You Need to Do 296 Obtain a federal tax ID number 296 Choose a tax year-end 297 Calculating the Income 298 Interest 298 Dividends 299 Business income 299 Capital gains and losses 300 Income from rents, royalties, partnerships, and other estates and trusts 302 Farm income or loss 303 Ordinary gain or loss 303 Other income 304 Deducing Deductions 304 Interest 305 Taxes 306 Fiduciary fees 306 Charitable deductions 307 Attorney, accountant, and preparer fees 308 Miscellaneous itemized deductions 308 The Income Distribution Deduction (Schedule B) 309 The estate tax deduction 311 Taxes owed 311 Credits 315 Additional taxes 316 Answering the Questions on the Back of Page 2 (Form 1041) 317 Chapter 19: Weighing Income Tax Implications 319 Timing Payments In and Out of an Estate 320 Benefitting from the estate’s fiscal year 320 Balancing the estate’s taxable income against the beneficiary’s 321 Timing the receipt of income 323 Paying the ongoing expenses of the estate 323 Investing to Minimize Income Taxes 324 Limiting the fiduciary’s income taxes 324 Protecting the beneficiary 326 Introducing the Unearned Income Medicare Contribution (UIMC) Tax 327 Calculating the tax 328 Lessening the tax’s impact 328 Chapter 20: Reporting Tax Info on Schedule K-1 331 Understanding Schedule K-1 331 General information 332 Income items 335 Deductions and credits 336 Alternative minimum tax information 337 Allocating Types of Income on the K-1 338 Preparing Supplements to Schedule K-1 339 Showing foreign tax allocations 339 Providing state tax information 340 Creating Nominee Form 1099s 340 Part 5: The Part of Tens 343 Chapter 21: Ten Pitfalls for the Unwary 345 Failing to Terminate an Existing Real Estate Purchase and Sale Agreement 345 Taking a Lump Sum Distribution from a Pension Plan, IRA, or Deferred Compensation Plan 346 Creating a Feeding Frenzy When Splitting Personal Property 347 Missing Court Deadlines 348 Forgetting Tax Filing Deadlines 348 Failing to Communicate with the Heirs and Legatees 349 Exercising Poor Fiduciary Judgment 349 Underestimating the Devotion Required 350 Taking Nonsanctioned Shortcuts 350 Paying from the Wrong Pocket 351 Chapter 22: Ten Types of Taxes You May Have to Pay 353 Federal Gift Tax 354 Federal Estate Tax 354 Generation-Skipping Transfer Tax 354 State Inheritance or Estate Tax 355 Estate and Trust Income Taxes (Federal and State) 356 Decedent’s Final Federal and State Income Taxes 356 Local Income Taxes 357 Local Real Estate Taxes 357 State Intangibles Taxes 357 Excise Taxes 358 Appendix A: Glossary 359 Appendix B: State-By-State Rules of Intestacy and Estate or Inheritance Tax 369 Index 401

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Book SynopsisTackle infrastructure development projects in emerging markets with confidence In Project Finance: Applications and Insights to Emerging Markets Infrastructure, distinguished professor and author Paul Clifford insightfully applies the fundamental principles of project finance structuring to infrastructure investments in emerging markets. Using leading emerging market case studies to illuminate the underlying themes of the book, the author provides a practitioner's perspective and incisive analysis of concepts crucial to a complete understanding of project finance in emerging markets, including: Risk management ESG and impact investing The emergence of new global multilateral development banks China's Belt and Road Initiative Project Finance bridges the gap between theoretical infrastructure development, investment, and finance and the implementation of that theory with instructive and applicable case studies. Table of ContentsPreface xi Acknowledgments xv Chapter 1 Principles and Application of Project Finance 1 Origins and History of Project Finance 1 Why Sponsors Use Project Finance 2 Project Finance—Asset Class Performance 4 Global Infrastructure Outlook 9 The Infrastructure Gap in Emerging Markets 12 Focus—Asia Infrastructure Needs 13 Endnotes 14 Chapter 2 Project Finance—Risk Analysis and Mitigation 17 Commercial versus Contract Viability 19 Sponsor Risk 19 Political Risk 21 Construction and Completion Risk 22 Operation and Maintenance Risk 25 Supply Risks 26 Reserve Risk 27 Sales/Offtake Risk 27 Approvals and Permits 30 Social and Environmental Considerations 30 Financial Risks 31 Force Majeure Risk 32 Case Study: Mozal Aluminum Project, Mozambique 33 Endnotes 37 Chapter 3 Project Finance Agreements and Loan Documentation 39 Construction Contracts in Project Finance 41 Operations and Maintenance Contracts in Project Finance 42 Offtake Contracts/Concession Agreements 42 Supply Contracts 43 Project Finance Loan Documentation 44 Key Lender Protection Mechanisms and Strategies for Negotiating Finance Agreements 51 Case Study: Samba Drillship Oil and Gas Project, Brazil 52 Chapter 4 Risks and Challenges of Project Financing in Emerging Markets 61 Track Record of Project Finance in Emerging Markets—The Asian IPP Experience 62 Currency Mismatch—Lessons Learned from the Asian Currency Crisis 63 How the Asian Currency Crisis Transformed the Approach to Project Finance 65 Role of Multilateral, Bilateral Development Banks, and Export Credit Agencies 68 Stakeholder Alignment Issues 71 Mitigating Political and Sovereign Risks 71 Case Study: Dabhol Power Project, India 72 Endnotes 80 Chapter 5 Sources of Financing for Emerging Markets 81 Multilateral Development Banks (MDBs) 84 Bilateral Development Banks (BDBs) 85 Export Credit Agencies (ECAs) 85 Commercial Banks 87 Political Risk Insurance Market—Breach of Contract and Non-Honoring of Financial Guarantees 88 Project Bonds 89 Equipment Suppliers and Financing 90 Institutional Lenders (Insurance Companies, Infrastructure Funds, Pension Funds, Private Equity, and so forth) 91 Strategies for Multi-Sourced Financing in Emerging Markets 91 Case Study: Nam Theun 2 Hydro Project, Laos 92 Endnotes 99 Chapter 6 Financial Structuring and Debt Sizing 101 The Borrower/Sponsor Objectives 103 Lenders’ Objectives 104 Debt Sizing and Sculpting 104 Financial Structuring—Debt Sizing and Loan Amortization 106 Lender Ratios for Debt Calibration and Stress Testing 110 Cash Traps and Sweeps 110 Case Study: Sabine Pass LNG Project and USA-Asia Energy Flows 112 Endnotes 117 Chapter 7 Environmental and Social Governance (ESG) 119 Sustainable Infrastructure Project Finance and Investing 120 Equator Principles 121 Multilateral Development Banks and ESG Frameworks 124 IFC Impact Investing Principles 127 Green Bonds 129 Sustainability Project Financing and UN Social Development Goals (SDGs) 131 Unlocking Institutional Capital to Meet Emerging Market SDGs 134 Case Study: Manzanillo Container Port Terminal Project, Mexico 136 Endnotes 141 Chapter 8 Emerging Markets Project Finance Bonds and Local Capital Markets 143 Project Bonds versus Project Loans 145 Project Bonds Investor Base and Market Liquidity 151 Local Currency Project Bonds and Partial Credit Guarantees/Insurance Wraps 154 Case Study: Project Bond Case Study—Mong Duong 2 Power Project, Vietnam 155 Endnotes 159 Chapter 9 China’s Belt and Road Initiative 161 Background and Scope of the Belt and Road Initiative 161 China’s Financing Strategy for BRI Infrastructure Development 170 Emergence of New Multilateral Development Banks—Focus on the Asia Infrastructure Investment Bank 172 Endnotes 174 Chapter 10 Project Finance Market Developments and Finance Structures 177 Mini-Perm Financing Structures 177 Back-Levered Financings for Renewable Energy Projects 180 Infrastructure Guarantee Products—Bond and Private Capital Credit Enhancement 182 Endnotes 187 Bibliography 189 Index 195

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Book SynopsisA practitioner''s guide to finding alpha in fixed income trading in emerging markets Emerging fixed income markets are both large and fast growing. China, currently the second largest economy in the world, is predicted to overtake the United States by 2030. Chinese fixed income markets are worth more than $11 trillion USD and are being added to global fixed income indices starting in 2019. Access for foreigners to the Indian fixed income market, valued at almost 1trn USD, is also becoming easier a trend repeated in emerging markets around the world. The move to include large Emerging Market (EM) fixed income markets into non-EM benchmarks requires non-EM specialists to understand EM fixed income. Trading Fixed Income in Emerging Markets examines the principle drivers for EM fixed income investing. This timely guide suggests a more systematic approach to EM fixed income trading with a focus on practical trading rules on how to generate alpha, assisting EM practTable of ContentsList of Figures xi List of Tables xvi Introduction xvii Acknowledgements xxi Acronyms xxiii Chapter 1 EMFX and Fixed Income: Where the Opportunities Lie 1 1.1 EM Debt – Growing Too Fast to Ignore 1 1.2 Returns Too Attractive to Ignore 4 1.3 EM as an Alpha Opportunity 7 1.4 Scope for Even More Alpha 9 1.5 Summary 12 Chapter 2 Global Macro Rules 13 2.1 What You Need to Get Right: 65% Global, 35% Local 13 2.2 When the US Sneezes, the World (Still) Catches a Cold 18 2.3 EM Central Banks Stimulate as Fast as Markets Allow 20 2.4 When Bullish on US Rates, EM Rates Outperform EM Credit 22 2.5 When Bullish on EUR, Overweight CEEMEA Over Asia 26 2.6 When Bullish on Commodities, Overweight Latam Over Asia 30 2.7 Risk Aversion Barely Hurts EM Rates 34 2.8 Rising US HY Spreads Worse than Rising VIX 37 2.9 Summary 38 Chapter 3 China: The Only Emerging Market that Counts 40 3.1 Global Business Cycle Made in China 40 3.2 The Commodity Link 42 3.3 On Leverage 44 3.4 Current Account Surpluses No More 45 3.5 Enter the Capital Account 46 3.6 Reading the CNY Tea Leaves 48 3.7 CGBs: The JGBs for Millennials 54 3.8 The Grand Decoupling? 56 3.9 Summary 57 Chapter 4 How to Trade EMFX 58 4.1 Only the JPY is Special 58 4.2 No Helping Hand from EM Rates 60 4.3 Carry Works – if You are Japanese 62 4.4 Current Accounts: Measuring Risk the Old-fashioned Way 68 4.5 Going for Growth 72 4.6 Modest Value in Valuation 74 4.7 Terms of Trade 76 4.8 Technicals to the Rescue 77 4.9 Flows Follow; Don’t Follow the Flows 81 4.10 Positioning with Positions 85 4.11 Going with the Seasons 86 4.12 Volatility: Foe, Not Friend 87 4.13 Summary 88 Chapter 5 How to Trade EMFX: Event Guide 90 5.1 Chaining the FX Vigilantes 90 5.2 Intervention at Work 91 5.3 Emergency Rate Hikes – Only for Emergencies 95 5.4 Capital Controls, IMF, or . . . China 98 5.5 IMF Packages Stabilize FX – Eventually 103 5.6 EM Elections: Of Market Foes and White Knights 104 5.7 Trading Data 108 5.8 Summary 111 Chapter 6 How to Trade Emerging Market Rates: The Cycle 112 6.1 Emerging Markets: A Definition for Rates Traders 112 6.2 The Structural EM Trade is Dead; Long Live the Cycle 114 6.3 US Lessons for EM Rates: Turning Points 116 6.4 US lessons for EM Rates: After the Turn 120 6.5 The Power of Patience: Receive Around the Last Hike Until the Last Cut is Close 121 6.6 More on Patience: Pay into the First Hike Until the Last Hike is Close 122 6.7 Steepeners: Receivers for Chickens 123 6.8 Flatteners: Payers for Chickens 125 6.9 How to Trade QE 127 6.10 It is Tough to be an EM Central Banker 129 6.11 EMFX as an Unpleasant Constraint on EM Central Bankers 130 6.12 Commodity Prices as an Unpleasant Constraint on EM Central Bankers 132 6.13 The Fed as an Unpleasant Constraint on EM Central Bankers 136 6.14 Inflation Forecasting in EM 136 6.15 Peaks in Inflation as the Holy Grail 139 6.16 EM Rates: Trading the Cycle in the Front 140 6.17 EM Rates: The Impact of US Treasuries 145 6.18 EM – Steeped in Risk 147 6.19 Does Valuation Work? 150 6.20 Term Premia: Use Sparingly 152 6.21 Sliding Down the Slope 154 6.22 Fiscal: Falling Flat 155 6.23 Summary 156 Chapter 7 Real Rates: Simply Superior 157 7.1 Buy Linkers and Sleep Well 157 7.2 How to Sleep Even Better 159 7.3 What is Fair? 162 7.4 Or is it Structural? 166 7.5 Summary 167 Chapter 8 How to Trade EM Rates: Event Guide 168 8.1 Trading Data 168 8.2 Learn to Love Negative Carry 172 8.3 Being Inclusive Pays Off Nicely 173 8.4 Trading Domestic Disasters 175 8.5 Summary 176 Chapter 9 How to Trade EM Credit 178 9.1 The Structural Trade is Dead: Long Live the Cycle 178 9.2 Carried Away by Momentum 182 9.3 Finding Your Sweet Spot 185 9.4 The Warren Buffett Trade in EM Credit 186 9.5 Improving on Buffett 187 9.6 Credit Selection According to Ray Dalio 189 9.7 Pegs Make it Worse 193 9.8 IMF: What is it Good For? 194 9.9 Embrace Defaults 196 9.10 Of Credit Curves 199 9.11 Evaluating Value 200 9.12 Rating Agencies: Late, but Market Moving 203 9.13 External versus Local 206 9.14 Summary 208 Chapter 10 Portfolio Construction 210 10.1 Smarter with Benchmarks 210 10.2 Frontier Markets at the Frontier 213 10.3 Portfolio Allocation without Markowitz 214 10.4 Derivatives: Weapons of Mass Alpha 216 10.5 ESG and EM: Not Fair! 217 10.6 Summary 222 Chapter 11 The (Near) Future: Big Data, Machine Learning, and What if There are No Emerging Markets Left 223 11.1 Big Data is Coming to Fixed Income 223 11.2 Machine Learning: Supervision is Needed for Supervised Learning 227 11.3 No Disappearing Act for Emerging Markets 228 11.4 Summary 231 Appendix A Basic Concepts 233 Bibliography 235

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Book SynopsisTable of ContentsAcknowledgments ix About the Author xi About the Contributors xiii Preface xvii Introduction xix Part One Early Stage Valuation in Context Chapter 1 Early Stage Enterprises and the Venture Capital Market 3 Chapter 2 Fair Value Standard 33 Chapter 3 Capital Structure 57Alexander Davie and Antonella Puca Part Two Enterprise Valuation Chapter 4 Seed Stage Valuation and the Venture Capital Method 83Andreas Dal Santo and Antonella Puca Chapter 5 The Backsolve Method 111Neil Beaton and Antonella Puca Chapter 6 Discounted Cash Flow Method 141John Jackman and Antonella Puca Chapter 7 Asset Accumulation Method 177Antonella Puca and Mark Zyla Chapter 8 Non-GAAP Metrics in ESE Valuation 209 Part Three Valuation of Financial Instruments Chapter 9 Allocation of Enterprise Value 237 Chapter 10 Valuation of Options and Warrants 259 Chapter 11 Valuation of Debt Securities 277 Chapter 12 Valuation of Contingent Consideration 309 References 333 Index 343

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Book SynopsisIn a world gone mad with money The Body of Money: A Self-Help Guide to Create Sustainable Wealth through Innate Intelligence is a comprehensive guide to building and sustaining wealth by using the incredible intelligence of the human body. The story you've been told about money is all wrong. Spreadsheets, PNL's, money markets, and index funds only touch the surface. The Body of Money provides a completely unique and effective approach to personal finance like nothing you've experienced before. By demystifying money psychology and behavior economics Certified Financial Planner and Master Integral Coach Gayle Colman shows you exactly how to use your innate wisdom to heal old money patterns, tend to wounds created by generational financial trauma and create sustainable wealth that is aligned with your deepest values. Integrating cutting-edge research, laugh-out-loud storytelling and body-centered practices, Gayle puts the power of individuTable of ContentsPreface xiii Introduction xix Part I: Landscape 1 Part IA: Introduction 3 Chapter 1: Diving In 5 Chapter 2: The Head 11 Chapter 3: The Belly 25 Chapter 4: The Heart 43 Chapter 5: The Trilogy of Archetypes: the Academic, the Philanthropist, the Capitalist 55 Chapter 6: The Virtuous Flow 69 Chapter 6 a: Love Letter Invitation 81 Part IB: Subtleties Of The Landscape 83 Chapter 7: The Trilogy of Nutrients—Safety, Connection, and Dignity 85 Chapter 8: Our Heart—We Space 93 Chapter 9: Greed 97 Chapter 10: Shame… Subtle, Seductive, and Searing 105 Part IC: Science Of The Landscape 113 Chapter 11: Basic Body—Body, Emotions, Sensations 115 Chapter 12: More Geeking Out with Somatic Markers 121 Chapter 13: Our Nervous System 125 Chapter 14: Measurements: Money and Body 131 Part ID: Skillful Response In The Landscape 137 Chapter 15: Productive Rest and Productive Action 139 Chapter 16: Masculine and Feminine, Focused and Spacious 149 Chapter 17: Wider Masculine and Deeper Feminine 157 Chapter 18: Money Madness Made Mindful 165 Chapter 19: Wants, Aspirations, Goals—What Are Mine? 171 Chapter 20: Trust 177 Chapter 21: Feedback 183 Chapter 21a: Transition Points: An Opportunity to Pause or Go Directly to Practice 187 Part II: Fruition: The Fruition Introduction 197 Part IIA: Fruition In Action 201 Chapter 22: Money Moving through the Heart 203 Chapter 23: Humor and Humility on the Virtuous Flow 209 Chapter 24: Money Mastery 215 Chapter 25: Integrity Is a Direct Experience 219 Part IIB: Heads Up 225 Chapter 26: The Three Toxic Myths 227 Chapter 27: Unrealistic Expectations 235 Chapter 28: There Is No “Right” Number 239 Chapter 29: Love Your Victim 245 Chapter 30: The Virtues 251 Chapter 31: Grief, Loss, Betrayal 257 Chapter 32: Sometimes We Need to Get Angry 261 Part IIC: A New World 265 Chapter 33: Consumption, Generosity, and Generativity 267 Chapter 34: Justice and Equity 277 Chapter 35: Generosity: Our Essential Survival Skill 283 Chapter 36: The Fruition of the Virtuous Flow 287 Chapter 36a: My Last Love Letter to You 291 About the Website 293 Acknowledgments 295 About the Author 297 Index 299

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Book SynopsisThe ultimate guide to real estate prospecting for both rookies and veterans In Real Estate Prospecting: Create a Million-Dollar Life Through Relationships, Online Leads, Technology, and Social Media, founder, consultant, and real estate team leader Tristan Ahumada delivers a comprehensive discussion of the resources and strategies available to rookie and experienced agents who wish to succeed at the highest levels of the industry. In the book, you'll explore techniques used by leading agents to become the best brokers, agents, and team leaders they can be. From developing a championship mindset to setting up an unbeatable sales system, the author also explains how to: Create and take advantage of a powerful real estate lead database Use live, virtual, and hybrid connections to round out your strategy Network with precision and efficiency to make the most of your time and energy An essential and exciting new resource from one oTable of ContentsAcknowledgments ix Part I The Fundamentals 1 1 Attract More Business 3 2 Environment and Finding Your Strength 7 3 Your Routine Matters 13 Part II Show Me the Money 27 4 The Bowtie 29 5 The HOP Method 33 6 Online Lead Generation 41 7 Social Media 59 8 Your Database 75 9 Farming 83 10 Client Events 107 11 Open Houses 119 12 Door Knocking 129 13 Cold-Calling 141 14 Networking 165 Part III Conclusion 173 15 Your Priorities 175 16 The Process 181 17 Building Your Virtual Staff 189 18 Building a Real Estate Team 199 19 The Future of Real Estate 219 Index 225

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Book SynopsisSheldon Natenberg is one of the most sought after speakers on the topic of option trading and volatility strategies. This book takes Sheldon’s non-technical, carefully crafted presentation style and applies it to a book—one that you’ll study and carry around for years as your personal consultant. Learn about the most vital concepts that define options trading, concepts you’ll need to analyze and trade with confidence. In this volume, Sheldon explains the difference between historical volatility, future volatility, and implied volatility. He provides real inspiration and wisdom gleaned from years of trading experience. Th is book captures the energy of the spoken message direct from the source. Learn about implied volatility and how it is calculated Gain insight into the assumptions driving an options pricing model Master the techniques of comparing price to value Realize the important part that probability plays in estimating option prices Table of ContentsMeet Sheldon Natenberg vii Chapter 1: The Most Important Tool for any Options Trader 1 Chapter 2: Probability and Its Role in Valuing Options 9 Chapter 3: Using Standard Deviation to Assess Levels of Volatility 35 Chapter 4: Making Your Pricing Model More Accurate 55 Chapter 5: The Four Types of Volatility and How to Evaluate Them 67 Chapter 6: Volatility Trading Strategies 81 Chapter 7: Theoretical Models vs the Real World 107 Appendix A: Option Fundamentals 115 Appendix B: A Basic Look at Black-Scholes 129 Appendix C: Calendar Spread 133 Appendix D: Greeks of Option Valuation 137 Appendix E: Key Terms 141 Index 149

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Book SynopsisTable of ContentsIntroduction 1 Chapter 1 No One Sells Miracles 5 Goats as Viagra? 7 Radio 9 The Placebo Effect 10 Correlation Does Not Imply Causation 11 Same as It Ever Was 13 Chapter 2 How to Sell Anything 17 The Count 18 Selling the Eiffel Tower 20 Everyone is in Sales 22 Chapter 3 Fast Money 27 The Promise of Huge Returns with Minimal Effort 29 When Trust Goes too Far 32 Do Your Homework 33 Chapter 4 It’s the End of the World as We Know It 39 Cognitive Dissonance 41 The Man Who Walked on Water 43 No One Knows What’s Going to Happen 45 Why Pessimism Sells Better than Optimism 47 The Value of ‘I Don’t Know’ 48 Chapter 5 Sleight of Hand 51 Bad Brad 53 A Magician Reveals His Secrets 56 Chapter 6 When Success Doesn’t Translate 61 Defeated by Decency 62 Don’t Try to Get Rich Twice 66 Chapter 7 When Fraud Flourishes 71 When There’s an ‘Expert’ with a Good Story 71 When Greed is Abundant 73 When Capital Becomes Blind 74 When the Banking Industry Gets Involved 76 When Individuals Begin Taking Their Cues from the Crowd 77 When Markets are Rocking 79 When the Opportunity Presents Itself 80 When Human Beings are Involved 81 When Innovation Runs Rampant 82 Chapter 8 The Siren Song of New Technologies 85 The Railway Napoleon 87 The Media’s Role in a Bubble 90 The Other Side 93 The Silver Lining of a Market Crash 94 Chapter 9 The Seductive Power of FOMO 97 How to Create a Monopoly 98 The Roaring 20s 100 When the Tide Goes Out 102 Not a Ponzi but Close Enough 103 The Seductive Power of FOMO 104 Chapter 10 Type I Charlatan 109 John Law and the Mississippi Company 111 Speculation is a Hell of a Drug 113 Pop Goes the Bubble 115 Type I and Type II Charlatans 116 Chapter 11 Type II Charlatan 121 The South Sea Company 123 Type II Charlatan John Blunt 124 The Bubble Act 127 The Echo Bubble and Dunbar’s Number 128 Chapter 12 Fooled by Intelligence 131 Newton’s Mania 134 The Problem with Smartest People in the Room 135 Why Smart People Make Dumb Decisions 137 Fooling Yourself with Complexity 138 Chapter 13 How Gullible are You? 141 Ponzi versus Bernie 146 The Sacred Relationship 148 Chapter 14 The Easiest Person to Fool 153 Getting Rich versus Staying Rich 156 Shot out of a Cannon 157 The Biggest Fraud of All 158 Conclusion: Six Signs of Financial Fraud 163 1. The Money Manager Has Custody of Your Assets 163 2. There is an Aura of Exclusivity in the Pitch 164 3. When the Strategy is too Complicated to Understand 165 4. When the Story is too Good to Be True 166 5. When the Returns are Ridiculously Good 167 6. When They Tell You Exactly What You Want to Hear 168 Index 171

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Book SynopsisAn expert reveals a step-by-step process for profiting from neoclassical qualified trend trading Trend Trading Set-Ups extends the neoclassical concept of qualified trend first introduced by Little in Trend Qualification and Trading, providing traders and investors with a sound methodology for uncovering the very best trade set-ups and the ability to time trade entries like never before. In Trend Trading Set-Ups, Little reveals the data behind qualified trends and utilizes a novel concept involving time to calculate trend failure probability rates. Little reduces the complex to its most simplistic form compressing all trades types into just two classes retraces and breakouts. Once simplified, over a decade worth of qualified trend data is examined. The result is a comprehensive presentation of what makes some trades enormously better than others and how you can both find and exploit the most favorable trade set-ups. SomTable of ContentsForeword ix Acknowledgments xi Introduction 1 PART I 7 CHAPTER 1 Identifying and Qualifying Trend Probabilities 9 Trend Determination 10 Qualified Trend Failure Probabilities 13 Qualified Trade Failure Probabilities 31 Summary 37 CHAPTER 2 Anchor Zones: The Key to Timing Trades 41 Anchor Bars and Zones 42 Reconsidering Trade Failures 46 Summary 54 CHAPTER 3 Broader Influences Affecting Stocks 55 Sector Congruence 59 Virtual Industry Groups—Future Direction 72 General Market Congruence 74 Summary 81 PART II 85 CHAPTER 4 Formulating a Workable Trading Plan 89 Trend Direction and Strength 90 Time Frames 94 Entry and Exit Timing 95 Trading Size, Scale Trading, Trade Success Probabilities, and Reward-to-Risk Ratio 100 Evaluating and Acting Upon the Plan 104 Summary 105 CHAPTER 5 The Data behind Trend Trade Set-Ups 107 The Only Two Types of Trade Set-Ups 108 Trading Breakouts and Retraces 111 Breakouts versus Retrace Trade Probabilities 113 Probabilities for Trade Set-Up Scenarios 122 Summary 133 CHAPTER 6 Sideways Range Trades 135 Trade Set-Up Conditions and Categorizations 136 Trading Sideways Trends 137 Summary 155 CHAPTER 7 Breakout and Retrace Trade Set-Ups 157 Retrace Trade Set-Ups 158 Breakout Trade Set-Ups 186 Considering Other Trade Set-Ups 199 Trade Set-Up Rationale and Thoughts 201 Summary 205 Conclusion: Unleashing Trade Potential 207 Appendix: Data Tables 209 About the Author 241 Index 243

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Book SynopsisA comprehensive volume of today''s most profitable trade set-ups A key element of trading is identifying situations in the financial markets that can produce a profitable trade. Fundamental analysts search for situations where a stock is undervalued or if a stock''s prospective earnings growth is underestimated by a majority of investors. Technical analysts look at patterns in the market that historically indicate the direction of the markets next move. High Probability Trade Set-Ups catalogs the best trading situations from a variety of technical approaches. Engaging and informative, High Probability Trade Set-Ups provides a detailed explanation of twenty powerful, recurring tradable situations in the financial markets. Each pattern is thoroughly described, including its strengths and drawbacks, ease of identification, and the degree to which it produces profitable trades. Most importantly, the author provides entry and exit points for each set up. ExamTable of ContentsAbout the Author xiii PART I An Overview 1 CHAPTER 1 A Primer on Chart Setups 3 The Bulls versus the Bears 4 Why Is a Prediction Valuable? 4 A Word on Shorting 6 Support and Resistance 7 What Happens When Prices Punch Through? 8 History Repeats Itself 11 When Patterns Work Together 13 How to Use This Book 14 CHAPTER 2 My Personal Trading Journey 15 Earliest Interest in the Markets 15 Beginning with the Crash 16 Technical Tools 17 Prophet’s Beginning 18 The Internet Makes Its Appearance 18 Enter Alex and JavaCharts 19 Project Kandinsky 21 The Slope of Hope 22 Lessons Learned 22 ProphetCharts Lives 23 The Three Steps 24 PART II The Patterns 31 CHAPTER 3 Ascending Triangles 33 Definition of the Pattern 33 Psychology behind the Pattern 35 Examples 35 Summary 43 CHAPTER 4 Ascending Wedges 45 Definition of the Pattern 45 Psychology behind the Pattern 47 Examples 47 Summary 53 CHAPTER 5 Channels 55 Definition of the Pattern 55 Psychology behind the Pattern 57 Examples 57 Summary 68 CHAPTER 6 Cup with Handle 69 Definition of the Pattern 69 Psychology behind the Pattern 70 Examples 72 Longer-Term Examples 75 Summary 79 CHAPTER 7 Descending Triangles 81 Definition of the Pattern 81 Psychology behind the Pattern 83 Examples 83 Summary 89 CHAPTER 8 Descending Wedges 91 Definition of the Pattern 91 Psychology behind the Pattern 92 Examples 93 Summary 102 CHAPTER 9 Diamonds 103 Definition of the Pattern 103 Psychology behind the Pattern 105 Examples 105 Summary 110 CHAPTER 10 Fibonacci Fans 111 Definition of the Pattern 111 Psychology behind the Pattern 113 Examples 114 Summary 126 CHAPTER 11 Fibonacci Retracements 129 Definition of the Pattern 130 Examples 132 Summary 139 CHAPTER 12 Flags 141 Definition of the Pattern 141 Psychology behind the Pattern 142 Examples 143 Summary 153 CHAPTER 13 Gaps 155 Definition of the Pattern 155 Psychology behind the Pattern 157 Examples 158 Summary 174 CHAPTER 14 Head and Shoulders 175 Definition of the Pattern 175 Psychology behind the Pattern 176 The Importance of the Neckline 177 Examples 178 Summary 197 CHAPTER 15 Inverted Head and Shoulders 199 Definition of the Pattern 199 Psychology behind the Pattern 201 The Importance of the Neckline 202 Examples 202 Summary 215 CHAPTER 16 Multiple Bottoms 217 Definition of the Pattern 217 Psychology behind the Pattern 219 Examples 220 Summary 230 CHAPTER 17 Multiple Tops 231 Definition of the Pattern 231 Psychology behind the Pattern 233 Examples 233 Summary 241 CHAPTER 18 Pennants 243 Definition of the Pattern 243 Psychology behind the Pattern 244 Examples 245 Summary 253 CHAPTER 19 Rounded Bottoms 255 Definition of the Pattern 255 Psychology behind the Pattern 256 Examples 257 Summary 265 CHAPTER 20 Rounded Tops 267 Definition of the Pattern 267 Psychology behind the Pattern 269 Examples 270 Summary 278 CHAPTER 21 Support Failure 279 Definition of the Pattern 279 Psychology behind the Pattern 280 Examples 281 Summary 299 CHAPTER 22 Automatic Patterns 301 Patterns in ProphetCharts 302 Working with the Results 307 Pattern Failures 314 Putting the Patterns to Work 315 PART III Trading and You 317 CHAPTER 23 Setting Stops 319 General Guidelines 319 Below Support 320 Above Resistance 320 Above Trendline 321 Below Trendline 321 Most Recent Low 322 Most Recent High 322 Special Cases 323 CHAPTER 24 On Being a Bear 325 The Philosophy of Shorting 325 Practical Guide to Short Selling 326 Exchange-Traded Funds 328 Puts for Leveraged Profits 330 The Philosophy of Shorting 332 CHAPTER 25 A Guide to Real-Life Trading 337 Trading Rules 337 How to Open a Position 338 How to Hold a Position 341 How to Close a Position 343 Time and Money 343 There Is No Holy Grail 344 Closing Thoughts 345 Index 347

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Book SynopsisTable of ContentsAbout the Author xvii Preface xix Abbreviations xxiii Introduction 1 Asset-Liability Management Metrics 5 ALM Risk Factors 7 Organization of This Book 8 Chapter 1 Interest Rate 17 Interest Rate, Future Value, and Compounding 18 Use of Time Notation versus Period Notation 22 Simple Interest 23 Accrual and Payment Periods 24 Present Value and Discount Factor 29 Present Value of Several Cash Flows 32 Present Value of Annuity and Perpetuity 33 Day Count and Business Day Conventions 34 Treasury Yield Curve and Zero-Coupon Rate 40 Bootstrapping 43 LIBOR 48 Forward Rates and Future Rates 49 Implied Forward Rates 50 Forward Rate Agreements 55 Interest Rate Futures 56 Swap Rate 58 Determination of the Swap Rate 61 Valuation of Interest Rate Swap Contracts 66 LIBOR-Swap Spot Curve 70 Interpolation Methods 75 Piecewise Linear Interpolation 76 Piecewise Cubic Spline Interpolation 78 Federal Funds and Prime Rates 84 Overnight Index Swap Rate 87 OIS Discounting 88 Secured Overnight Financing Rate 94 Components of Interest Rate 95 Risk Structure of Interest Rate 97 Term Structure of Interest Rate 98 Expectation Theory 100 Market Segmentation Theory 102 Liquidity Premium Theory 102 Inflation and Interest Rate 102 Negative Interest Rate 103 Interest Rate Shock 105 Parallel Shock 106 Non-Parallel Shock 107 Interest Rate Risk 109 Summary 110 Notes 112 Bibliography 114 Chapter 2 Valuation: Fundamentals of Fixed-Income and Non-Maturing Products 115 Principal Amortization 116 Bullet Payment at Maturity 116 Linear Amortization 117 Constant Payment Amortization 118 Sum-of-Digits Amortization 121 Custom Amortization Schedule 123 Fixed-Rate Instrument 124 Valuation 124 Yield 130 Duration and Convexity 133 Dollar Duration and Dollar Convexity 142 Portfolio Duration and Convexity 143 Effective Duration and Effective Convexity 144 Interest Rate Risk Immunization 145 Key Rate Duration 155 Fisher-Weil Duration 156 Key Rate Duration 160 Floating-Rate Instrument 165 Pre-Period-Initiation Rate Setting 166 Post-Period-Initiation Rate Setting 166 Valuation Using Estimated Interest Rates at Future Reset Dates 168 Using Implied Forward Rate 168 Using Forecasted Rate 171 Valuation Using Assumption of Par Value at Next Reset Date 177 Duration and Convexity 182 Valuation Using Simulated Interest Rate Paths 184 Non-Maturing Instrument 191 No New Business Treatment 192 No New Account Treatment 196 Constant Balance Treatment 197 Inclusion of Prepayment and Default: A Roll Forward Approach 198 Summary 207 Notes 210 Bibliography 210 Chapter 3 Equity Valuation 213 Dividend Discount Model 214 Discounted Free Cash Flow Method 217 Comparative Valuation Using Price Ratios 226 Summary 233 Note 234 Bibliography 235 Chapter 4 Option Valuation 237 Stock Option 238 Boundary Values 240 Call Option 241 Put Option 243 Put–Call Parity 247 Underlying Stock Does Not Pay Dividends 247 Underlying Stock Pays Dividends or Provides Yield 251 Binomial Tree 252 The Black–Scholes–Merton Model 267 Generalization of the Black–Scholes–Merton Model 272 Option Valuation Using Monte Carlo Simulation 273 Sensitivity of Option Value 282 Sensitivity to Underlying Price 282 Sensitivity to Volatility 288 Sensitivity to the Interest Rate 290 Sensitivity to the Passage of Time 291 Volatility 292 Historical Volatility 292 Implied Volatility 295 Non-Constant Volatility 297 ARCH and GARCH Models 298 Forecasting Volatility Using the GARCH Model 303 The GARCH-M Model 305 The Exponentially Weighted Moving Average Model 306 The EWMA Model for Covariance 310 Option Valuation Using a GARCH Model 312 Futures Options 319 Futures Contract 319 Option on Futures Contract 320 Put–Call Parity for Futures Options 323 Black Model 324 Using a Binomial Tree for Valuation of Futures Options 326 Summary 328 Annex 1: Derivation of Put–Call Parity When the Underlying Pays Dividends 331 Annex 2: Derivation of Delta, Gamma, Vega, Rho, and Theta 338 Notes 343 Bibliography 344 Chapter 5 Interest Rate Models 347 Instantaneous Forward Rate and Short Rate 347 Vasicek Model 354 Hull-White Model 358 Ho-Lee Model 366 Black-Karasinski Model 367 Interest Rate Options 368 Swaption 368 Interest Rate Cap and Floor 370 Analytical Valuation of Bonds and Options 373 Zero-Coupon Bond 373 Option on a Zero-Coupon Bond 374 Interest Rate Cap and Floor 375 Option on a Coupon-Bearing Bond 376 Swaption 376 Interest Rate Tree 377 The Hull-White Tree 382 The Black-Karasinski Tree 400 Calibration 405 Calibration Using the Analytical Method 408 Calibration Using the Interest Rate Tree 413 LIBOR Market Model 420 Summary 425 Annex: Derivation of Zero-Coupon Bond Price Using a Δt-Period Rate from the Hull-White Tree 427 Notes 429 Bibliography 430 Chapter 6 Valuation of Bonds with Embedded Options 433 Callable Bond 433 Option-Adjusted Spread 441 Putable Bond 444 Summary 446 Note 447 Bibliography 447 Chapter 7 Valuation of Mortgage-Backed and Asset-Backed Securities 449 Mortgage-Backed Securities 450 Fixed-Rate Conventional Mortgage Loans 452 Prepayment 460 Impact of Prepayment on Mortgage-Backed Securities 463 Valuation of Mortgage-Backed Securities 476 Short Rate Model 476 Mortgage Refinancing Rate Model 480 Prepayment Model 483 Cash Flow Generator 483 Discounting and Aggregation Platform 484 Number of Simulated Paths and Convergence 486 Impact of Default on Mortgage-Backed Securities 488 Collateralized Mortgage Obligations 503 Valuation of Collateralized Mortgage Obligations 511 Asset-Backed Securities 513 Auto Loan ABSs 517 Collateral 517 Structure 520 Prepayment 521 Home Equity Loan ABSs 522 Collateral 522 Structure 523 Prepayment 524 Student Loan ABSs 524 Collateral 524 Structure 528 Prepayment 529 Credit Card Receivable ABSs 529 Collateral 529 Structure 530 Cash Flow Distribution Method 531 Prepayment 534 Early Amortization Event 534 Valuation of Asset-Backed Securities 535 Summary 550 Annex: Derivation of Survival Factor 552 Notes 553 Bibliography 554 Chapter 8 Economic Value of Equity 557 Economic Value of Equity: Basics 559 Duration Gap 562 Risk-Adjusted Yield Curve 567 Interest Rate Scenario Analysis 574 Product Type and Value Sensitivity 575 Impact of Interest Rate Shocks on EVE 584 Balance Sheet Type and EVE Sensitivity 593 Currency Exchange Rate Scenario Analysis 594 Economic Value of Equity Risk Limits 597 Balance Sheet Planning and EVE Forecasting 597 Basel Accord Guidance on EVE Analysis 600 Principles of Managing Interest Rate Risk in the Banking Book 601 Scenario Construction and EVE Analysis 604 Standardized Framework 607 Summary 608 Notes 610 Bibliography 611 Chapter 9 Net Interest Income 613 Interest Income and Expense: Basics 614 Interest Income and Expense for Floating-Rate Instruments 620 Using the Implied Forward Rate 621 Using the Forecasted Rate 631 Incorporating Balance Sheet Change in NII Analysis 638 Runoff View: No New Volume 638 Static View: Replacement of Matured Positions 642 Dynamic View: Incorporation of Business Plan 644 Earning Gap 648 Interest Rate Scenario Analysis 653 Parallel Shocks 654 Non-Parallel Shocks 664 Balance Sheet Type and NII Sensitivity 670 Impact of Interest Rate Options on NII 673 Currency Exchange Rate Scenario Analysis 683 Currency Forward and Interest Rate Parity 683 Exchange Rate Shock Scenarios 687 Net Interest Income Hedging 691 Net Interest Income Risk Limits 697 Required Data and Other Considerations in NII Analysis 699 Basel Accord Guidance on NII Analysis 701 Summary 702 Notes 704 Bibliography 704 Chapter 10 Equity and Earnings at Risk 705 Introduction to Value-at-Risk 706 Variance-Covariance Method 708 Historical Sampling Method 710 Monte Carlo Simulation Method 713 Conditional Value-at-Risk 717 Application of VaR Methodology in ALM 719 Scenario Generation 721 Historical Sampling 721 Monte Carlo Simulation 726 Standard and Generalized Brownian Motion 726 Multi-dimensional Brownian Motion 730 Geometric Brownian Motion 731 Mean-Reverting Brownian Motion 734 Geometric Mean-Reverting Brownian Motion 739 Calibration 743 Equity-at-Risk 743 Interest Rate Risk Factor 744 Component Contribution 748 Approximation Techniques 749 Currency Exchange Rate Risk Factor 752 Sample Size and Convergence 758 Earnings-at-Risk 762 Interest Rate Risk Factor 763 Currency Exchange Rate Risk Factor 769 Summary 775 Notes 776 Bibliography 777 Chapter 11 Liquidity Risk 779 Funding Source and Liquidity Risk 780 Deposits 781 Short-Term Debt 783 Medium-Term Notes 788 Long-Term Debt 789 Securitization 790 Credit and Liquidity Facilities 793 Eurodollar Deposit and Federal Funds Market 795 Other Sources of Funding 796 Short-Term Secured Funding: Repurchase Agreements 796 Repo Basics 796 Repo Margin 800 Collateral Delivery Methods and Triparty Repo 801 Use of Repo 802 Security Lending 807 Repo and Liquidity Risk 809 Managing Liquidity Risk of Repo 811 Cash Flow Gap Analysis and Liquidity Stress Tests 816 Cash Flow Gap: Business-as-Usual 823 Cash Flow Gap: Idiosyncratic Stress 833 Cash Flow Gap: Market-Wide Stress 841 Cash Flow Gap: Multi-Currency 849 Funding Concentration Risk 854 Basel Accord Liquidity Risk Monitoring Tools 855 Liquidity Coverage Ratio 856 High-Quality Liquid Asset 857 Total Net Cash Outflows in Next 30 Days 859 Net Stable Funding Ratio 873 Available Stable Funding 874 Required Stable Funding 874 Intraday Liquidity 884 Early Warning Indicators 892 Liquidity Contingency Plan 893 Summary 893 Notes 896 Bibliography 897 Chapter 12 Funds Transfer Pricing 899 Funds Transfer Pricing: Basics 900 Pool Method 906 Matched Maturity Method 910 FTP Rate for Fixed-Rate Maturing Products 910 Weighted Average Method 913 Duration Method 914 Refinancing Method 915 FTP Rate for Floating-Rate Maturing Products 917 FTP Rate for Non-Maturing Products 920 Behavioral Model Method 920 Replicating Model Method 930 Components of FTP Rate 932 Characteristics of a Good FTP System 934 Summary 936 Notes 938 Bibliography 938 Appendix: Elements of Probability and Statistics 939 Index 1003

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Book Synopsis

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Book Synopsis''A treasure trove of advice to help you earn more cash!'' - ALISON HAMMOND''Dan is a money-making genius'' - RYLANThis Morning expert, Dan Hatfield , has made it his mission to inspire the nation with his practical, positive money-making wisdom.Structured through key life areas where we can generate cash, Dan will help you unlock your money-making skills, from uncovering the hidden jackpots in your home and becoming a ''bubble entrepreneur'' to mastering the second-hand market with ease. Money Maker is full of the essential advice you need - it''s a transformative resource that will ensure you can do more of the things you love and start seeing financial opportunity at every turn.FUN and EMPOWERING, LET''S GET MONEY-MAKING!ABOUT THE AUTHORS:Third-generation pawnbroker, Dan Hatfield, has made it his mission to inspire the nation with his practical, positive money-making wisdom. He was the star of C

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Book SynopsisSuitable for exams from September 2025 until August 2026

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Book Synopsis

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Book Synopsis

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Book Synopsis

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Book Synopsis

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Book SynopsisFinancial Accounting and Reporting: An International Approach is an adaptation of McGraw-Hill Australiaâs bestselling financial accounting text Australian Financial Accounting by Craig Deegan, authored by Anne Marie Ward of Ulster University. Set within an international context, with a solid grounding in IAS/ IFRS, the book provides students with a detailed grasp of reporting requirements in and accessible and engaging manner. Up to date throughout and complete in theoretical and practical coverage, the book successfully communicates the detail necessary to understand, challenge and critically evaluate financial reporting. The result gives students a strong foundation for current study and their future professional lives.Table of ContentsPart 1 The Accounting Environment Chapter 1 An Overview of the external reporting environmentChapter 2 The conceptual framework of accounting and its relevance to financial reportingPart 2 Theories of AccountingChapter 3 Theories of financial accountingPart 3 Accounting for AssetsChapter 4 An overview of accounting for assetsChapter 5 Depreciation of property, plant and equipment Chapter 6 Revaluations and impairment testing of non-current assetsChapter 7 InventoryChapter 8 Accounting for intangiblesPart 4 Accounting for Liabilities and Owners’ Equity Chapter 9 An overview of accounting for liabilitiesChapter 10 Accounting for leasesChapter 11 Share capital and reservesChapter 12 Accounting for financial instrumentsChapter 13 Revenue recognition issuesChapter 14 The statement of comprehensive income and statement of changes in equityChapter 15 Accounting for income taxesPart 5 Accounting for the Disclosure of Cash FlowsChapter 16 The Statement of Cash FlowsPart 6 Disclosure IssuesChapter 17 Events accruing after the reporting dateChapter 18 Related-party disclosuresChapter 19 Earnings per sharePart 7 Accounting for Equity Interests in other EntitiesChapter 20 Accounting for group structuresChapter 21 Further consolidation issues I: accounting for intragroup transactions Chapter 22 Further consolidation issues II: accounting for non-controlling interestsChapter 23 Further consolidation issues III: accounting for indirect ownership interests Part 8 Foreign CurrencyChapter 24 Accounting for foreign currency transactionsChapter 25 Translating the financial statements of foreign operationsPart 9 Corporate Social Responsibility ReportingChapter 26 Accounting for corporate social responsibility

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Book SynopsisThe second edition of Financial Accounting and Reporting by John McKeith and Bill Collins has beenfully updated to reflect the latest International Accounting Standards as well as explaining the effects ofexposure drafts in issue. The text takes an uncomplicated, practical approach to intermediate level financialaccounting, offering a manageable way to master the subject one step at a time.Table of ContentsThe Preparation, Presentation and Regulation of Company Financial Statements Tangible Non-current Assets Intangible Assets and Impairment of Assets Leases Inventories Revenue Recognition and Construction Contracts Share Capital and Reserves Liabilities Taxation Statement of Cash FlowsBusiness Combinations Foreign Currency Translation Interpretation of Financial Statements Online chapter: Alternatives to Historical Cost Accounting

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