Finance and accounting Books

Book SynopsisDespite the material failure rates in M&A, managers pulling the trigger on key strategic decisions can make them work if they spend great care and rigor in the development of their M&A deals. Applied Mergers and Acquisitions addresses the drivers of M&A success and failure for both professionals and students.Table of ContentsForeword Preface Part 1 Introduction and Key Themes 1 Chapter 1 Introduction and Executive Summary 3 Chapter 2 Ethics in M&A 13 Chapter 3 Does M&A Pay? 30 Part 2 Strategy and the Origination of Transaction Proposals 67 Chapter 4 M&A Activity 69 Chapter 5 Cross-Border M&A 98 Chapter 6 Strategy and the Uses of M&A to Grow or Restructure the Firm 123 Chapter 7 Acquisition Search and Deal Origination: Some Guiding Principles 183 Part 3 Diligence, Valuation, and Accounting 205 Chapter 8 Due Diligence 207 Chapter 9 Valuing Firms 247 Chapter 10 Valuing Options 296 Chapter 11 Valuing Synergies 325 Chapter 12 Valuing the Firm across Borders 348 Chapter 13 Valuing the Highly Levered Firm, Assessing the Highly Levered Transaction 393 Chapter 14 Real Options and Their Impact on M&A 424 Chapter 15 Valuing Liquidity and Control 455 Chapter 16 Financial Accounting for Mergers and Acquisitions 478 Chapter 17 Momentum Acquisition Strategies: An Illustration of Why Value Creation Is the Best Financial Criterion 511 Part 4 Design of Detailed Transaction Terms 529 Chapter 18 An Introduction to Deal Design in M&A 531 Chapter 19 Choosing the Form of Acquisitive Reorganization 547 Chapter 20 Choosing the Form of Payment and Financing 564 Chapter 21 Framework for Structuring the Terms of Exchange: Finding the "Win-Win" Deal 589 Chapter 22 Structuring and Valuing Contingent Payments in M&A 609 Chapter 23 Risk Management in M&A 636 Chapter 24 Social Issues 668 Part 5 Rules of the Road: Governance, Laws, and Regulations 683 Chapter 25 How a Negotiated Deal Takes Place 685 Chapter 26 Governance in M&A: The Board of Directors and Shareholder Voting 703 Chapter 27 Rules of the Road: Securities Law, Issuance Process, Disclosure, and Insider Trading 725 Chapter 28 Rules of the Road: Antitrust Law 742 Chapter 29 Documenting the M&A Deal 766 Part 6 Competition, Hostility, and Behavioral Effects in M&A 771 Chapter 30 Negotiating the Deal 773 Chapter 31 Auctions in M&A 790 Chapter 32 Hostile Takeovers: Preparing a Bid in Light of Competition and Arbitrage 804 Chapter 33 Takeover Attack and Defense 824 Chapter 34 The Leveraged Restructuring as a Takeover Defense: The Case of American Standard 856 Part 7 Communication, Integration, and Best Practice 877 Chapter 35 Communicating the Deal: Gaining Mandates, Approvals, and Support 879 Chapter 36 Framework for Postmerger Integration 891 Chapter 37 Corporate Development as a Strategic Capability: The Approach of GE Power Systems 914 Chapter 38 M&A "Best Practices": Some Lessons and Next Steps 926 About the CD-ROM 939 References and Suggestions for Further Reading 945 Index 1001

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Book SynopsisIn a personable and inspirational tone, The Ms. Spent Money Guide introduces readers to "Conscious Spending," an innovative approach to changing spending habits without feeling deprived. This comprehensive book will teach individuals how to align their spending with the values that matter most to them.Trade ReviewThere's no "right" way to spend, says Knuckey, a personal finance consultant who calls her system "coaching" not "counseling," since "you may never understand the details" of your feelings about money, but "you can still change your behavior." Happily, her behavior modification plan involves no penny-pinching, few rules and not much of that "b-word"(budgeting), which is about as much fun as dieting. The bottom line to Knuckey's system is her focus on "Conscious Spending," which means only buying what really makes you happy. While there are the obligatory passages on the trap of escalating wants and the ball-and-chain of debt, her main message is positive: focus on satisfying yourself, and you'll never lack motivation. Apart from such truisms, there are occasional mentions of more radical notions, like the idea that having enough is a very real concept for people who have come to the end of their "journey of self-expression." Knuckey's program is basically sensible and unthreatening, low on "shoulds" and sprinkled with humor. Her own persona] lifetime spending program, for instance, assumes "that I will die broke" - why support lazy heirs? And, she advises, don't play the lottery: "if you want to buy hope, buy a drink at a singles bar!" By the end of the book, a complex budgeting plan sneaks in anyway, but readers who've gotten that tar won't mind. Forecast: While there's no dearth of personal finance self-help books on the market, Knuckey's down-to-earth tone should appeal to 20-somethings, especially considering her online presence, detailed in the book's final pages. --Publisher's Weekly In The Ms. Spent Money Guide, Deborah Knuckey wants everyone to be a conscious spender. You know, someone who never buys things spontaneously and never purchases things they never use. (The kind of sensible person, in short, who is the opposite of the heroine in the funny best-selling novel, Confessions of a Shopaholic.) No one makes you spend money, but experts spend a lot of time and money making it hard to resist. "Advertiser' and marketers' success depends on their ability to link their products with your wants, and increase the volume until you can make a purchase. Think you can pit your self-will against their sophisticated marketing? It's tough," she writes. The way around this pressure: Be aware of what triggers you to spend so freely. That, of course, is a lot easier said than done. But she does have exercises to put you into a less lavish frame of mind. One exercise: Take 5 minutes to write down all the influences that put you into a shopping mode - when did you first hear of the product? Did friends or colleagues egg you on? Do you know someone who has something similar - are you keeping up with the Joneses? The problem with conscious spending is that it requires a delicate balance of today's wants and tomorrow's needs. Knuckey says it can be painless by following her spending model. This hierarchy places the soul at the top of the pyramid. The soul category encompasses travel, vacation home, cable, books, music, hobbies, sports, massages, manicures and jewelry, among other things. After that come expenses for things like food, shelter. Security is the foundation of the pyramid, which includes insurance, retirement planning, emergency expense funds and debt management. A strong security base means you're less vulnerable to unexpected circumstances, such as illness, divorce, unemployment or business failure. Of course there is a hitch. Under this plan, you have to fulfill the security foundation before you can float to the top - and then buy the fun stuff.--Juliette Fairley, Special for USA TODAY, April 23, 2001Table of ContentsIntroduction. READY TO CHANGE: IS YOUR HIP POCKET OFF BALANCE? Where Did It All Go?: The Unconscious Spending Trap. Conscious Spending: Honoring Your Values. Becoming Conscious: Getting More of What You Want. The Excuse File: Why Unconscious Spending Tempts. SET TO SPEND: THE SEVEN CONSCIOUS SPENDING CATEGORIES. Security: Your Financial Foundation. Shelter: Your Home, Sweet Home. Sustenance: Feeding Your Body. Self and Family: Everyday Expenses. Social: Connecting with Others. Society: Giving Back. Soul: Expressing Your Higher Purpose. GO: BECOMING A CONSCIOUS SPENDER. Starting Out: Creating a Conscious Spending Plan. Keeping Conscious: Designing a New Hip-Pocket Habit. Iceberg Ahead: When You're Weighed Down by Debt. The Big Squeeze: When Your Means Are Not Enough. Bibliography. Conscious Spending: Next Steps. Index.

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Book SynopsisIncorporate the Benefits of Activity-Based Costing into the Efficiencies of Your SAP R/3 System Given SAP's dominance in the enterprise resource planning (ERP) market, many companies and their managers encounter SAP AG applications in some form or another.Table of ContentsPreface. Acknowledgments. LAYING THE FOUNDATION. Cost Management: A Brief History and the Convergence of Philosophies. Systems Support of the Activity-Based Costing Philosophy: Stand-alone Analytical ABC versus Integrated ABC. Overview of SAP and Integrated Activity-Based Costing. Evolution of SAP's Integrated Activity-Based Costing. SAP R/3 INTEGRATED ACTIVITY-BASED COSTING. Integrated Activity-Based Costing with Responsibility Accounting. Integrated Activity-Based Costing with Overhead Order Accounting. Integrated Activity-Based Costing with Product Costing and Production Control. Integrated Activity-Based Costing with Market Segment Analysis. Integrated Activity-Based Costing. BEYOND SAP R/3 INTEGRATED ACTIVITY-BASED COSTING. SAP Integrated Activity-Based Costing Combined with Oros Modeling Capabilities. Activity-Based Costing/Management with Strategic Enterprise Management. Glossary. Index.

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Book SynopsisIt takes a special set of trading skills to thrive in today's intensely volatile markets, where point swings of plus or minus 200 points can occur on a weekly, sometimes daily, basis. The Volatility Course arms stock and options traders with those skills.Table of ContentsIntroduction: Volatility Versus Risk. Chapter 1. Crisis and Chaos on Financial Markets. Chapter 2. Volatility in the Stock Market. Chapter 3. Historical Volatility. Chapter 4. Trading Historical Volatility. Chapter 5. The World of Stock Options. Chapter 6. Implied Volatility. Chapter 7. VIX and Other Sentiment Indicators. Chapter 8. Exploiting Low Volatility. Chapter 9. Exploiting High Volatility. Chapter 10. Volatility Skews. Chapter 11. Final Summary. Appendix A. Studying the Market. Appendix B. Stock Charts and Technical Tools. Appendix C. Statistical and Implied Volatility. Appendix D. Sentiment Indicators. Appendix E. Using Risk Graphs. Appendix F. Option Reviews. Appendix G: Paper Trading Your Way to Success. Index.

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Book SynopsisFrom the bestselling author of The Warren Buffett Way, a revealing inside look at the booming business-and investment opportunities-of NASCAR "Hagstrom's insights and observations bring a refreshing 'outside' business perspective to our industry. " --From the Foreword by William C.Table of ContentsRiding with Elmo. Rules of the Road. It Takes Money to Race. Prime Time. The Meanest Mile. True American Heroes. Forty-Two Teams on the Same Field at the Same Time. Thunder Road into the Next Century. Epilogue. Notes. Index.

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Book Synopsis"People have told me that their lives have changed because of me. I take away from this the sense that I'm on the right track. " "I believe you're here to live your life with passion. Otherwise, you're just traveling through the world blindly-and there's no point to that. " "Oprah's on.Table of ContentsPreface. Acknowledgments. A Woman of Influence. Oprah's Roots. You Are Responsible For Your Life. Finding Her Niche. Oprah the Chief Executive Officer. On Living With Fame and Fortune. On Romance. Oprah on the Outside. Oprah On the Inside. On Truth and Courage. On Doing Right. On Solving the World's Problems. Oprah's Worst Mistakes. Others Speak About Oprah. Looking Ahead. Timeline. Endnotes.

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Book SynopsisWords and wisdom from Chicago Bulls #23: Mega-superstar, "His Airness" He is the most successful player to ever wear a basketball uniform. On the court and off the court, Michael has entertained the world as a pitchman, movie star, spokesperson, and an extraordinary athlete-although not the greatest baseball player.Table of ContentsPreface xiA LITTLE HARDSHIP EARLY 1THE TAR HEEL 10THE NBA'S LORD OF THE HOOPS 20TEAMWORK: THE CHICAGO BULLS 37ZEN AND THE ART OF BASKETBALL 60JORDAN'S DARKEST HOURS 66THE NBA COMEBACK 93REVOLUTIONLIZING THE SPORTS ECONOMY 102AS FAMOUS AS GOD? 133THE MAN BEHIND THE IDOL 150MICHAEL JORDAN IN HOLLYWOOD 170THE JORDAN END GAME 175By the Numbers 193Timeline 197End Results 203

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Book SynopsisOur slogan from the very beginning was ''a computer on every desk and in every home.'' For me to become gun-shy might require surgery. An icon more powerful than anything on a Windows screen, Bill Gates today stands atop his fabled Microsoft fortress staring down competitors'' threats and injunctions from an annoyed U.S. Justice Department. The kind of success Gates has created rarely escapes criticism. And Bill is getting more than his share. The story of how this Harvard dropout created the operating system that would become the worldwide standard for millions of computers is legendary. And equally legendary has been the take-no-prisoners tactics of his corporate colossus, Microsoft. We''ve witnessed Gates''s transformation from a geeky wunderkind into a business titan. Whether admired or detested, glorified or vilified, Gates is a household name and a worldwide curiosity. Bill Gates Speaks discloses what Bill Gates has to say on everything from fiTable of ContentsPreface. Growing Up Gates. Heading Off on the Conventional Road. Back on the High-Tech Highway. The Gatesian Management Style. The Microsoft Business Model. The Computer Wars. Microsoft Mistakes. Attack the Future. Others Say. Living at the Pinnacle. Little Time for Love. The New Computer Culture. Gates on Life. The Bottom Line. The Bill Gates Time Line. Endnotes.

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Book SynopsisThe first financial risk management book that combines a detailed, big picture discussion of firm-wide risk management with a comprehensive discussion of derivatives-based hedging strategies and tactics. It focuses on educating readers on how to integrate risk management with corporate business strategy, not just on hedging practices.Table of ContentsIntroduction. RISK MANAGEMENT AND CORPORATE FINANCE. The Nature of Risk. Risk Aversion, Insurance, and Hedging. The Irrelevance of Corporate Financing and Risk Management Decisions. Increasing Expected Cash Flows or Reducing the Cost of Capital by Managing Risk. Reducing Conflicts between Security Holders and Managers by Managing Risk. Reducing Conflicts amongst Security Holders by Managing Risk. Controlling and Exploiting Informational Asymmetries by Managing Risk. Value versus Cash Flow versus Earnings Risk Management. Total versus Selective Risk Management. RISK MANAGEMENT AND BUSINESS STRATEGY. Risk Culture and Risk Management Business Models. Integrating People, Technology, and Processes through Enterprise-Wide Risk Management. Identifying Market Risk Exposures and Defining Risk Tolerances. Spot, Forward, and Forward-Like Exposures. Identifying Option, Option-Like, and Real Option Exposures. Measuring and Monitoring Market Risk. Identifying, Measuring, and Monitoring Credit Risk. Identifying, Measuring, and Monitoring Liquidity Risk. Identifying, Measuring, and Monitoring Operational Risk. Identifying and Managing Legal Risk. THE TACTICS OF RISK CONTROL. Ex Ante Capital Allocation. Ex Post Performance Measurement and Compensation. Internal Controls. Tactical Risk Control with Derivatives. Tactical Risk Control through Actual and Synthetic Asset Divestitures. Strategic Risk Control with Structured Liabilities. Insurance and ART. Notes. Bibliography. Index.

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Book SynopsisVaR, or value at risk, is a concept introduced by bank dealers to establish parameters for their market short-term risk exposure. This text introduces VaR, extreme VaR, and stress-testing risk measurement techniques to major institutional investors.Table of ContentsPART ONE: INTRODUCTION. What are Value-at-Risk and Risk Budgeting? Value-at-Risk of a Simple Equity Portfolio. PART TWO: TECHNIQUES OF VALUE-AT-RISK AND STRESS TESTING. The Delta-Normal Method. Historical Simulation. The Delta-Normal Method for a Fixed Income Portfolio. Monte Carlo Simulation. Using Factor Models to Compute the VaR of Equity Portfolios. Using Principal Components to Compute the VaR of Fixed-Income Portfolios. Stress Testing. PART THREE: RISK DECOMPOSITION AND RISK BUDGETING. Decomposing Risk. A "Long-Short" Hedge Fund Manager. Aggregating and Decomposing the Risks of Large Portfolios. Risk Budgeting and the Choice of Active Managers. PART FOUR: REFINEMENTS OF THE BASIC METHODS. Delta-Gamma Approaches. Variants of the Monte Carlo Approach. Extreme Value Theory and VaR. PAART FIVE: LIMITATIONS OF VALUE-AT-RISK. VaR Is Only an Estimate. Gaming the VaR. Coherent Risk Measures. PART SIX: CONCLUSION. A Few Issues in Risk Budgeting. References. Index.

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Book SynopsisPredict the future more accurately in today''s difficult trading times The Holy Grail of trading is knowing what the markets will do next. Technical analysis is the art of predicting the market based on tested systems. Some systems work well when markets are trending, and some work well when they are cycling, going neither up nor down, but sideways. In Trading with Signal Analysis, noted technical analyst John Ehlers applies his engineering expertise to develop techniques that predict the future more accurately in these times that are otherwise so difficult to trade. Since cycles and trends exist in every time horizon, these methods are useful even in the strongest bull--or bear--market. John F. Ehlers (Goleta, CA) speaks internationally on the subject of cycles in the market and has expanded the scope of his contributions to technical analysis through the application of scientific digital signal processing techniques.Table of ContentsIntroduction to the Science of Digital Signal Analysis. Market Modes. Moving Averages. Momentum Functions. Complex Variables. Hilbert Transforms. Measuring Cycle Periods. Signal-to-Noise Ratio. The Sinewave Indicator. The Instantaneous Trendline. Identifying Market Modes. Designing a Profitable Trading System. Transform Arithmetic. Finite Impulse Response Filters. Infinite Impulse Response Filters. Removing Lag. MAMA--The Mother of Adaptive Moving Averages. Ehlers Filters. Measuring Market Spectra. Optimum Predictive Filters. What You See Is What You Get. Making Standard Indicators Adaptive. Epilogue. For More Information. Glossary. Index.

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Book SynopsisComputer Audit, Control, and Security, 2nd Edition describes the types of internal controls, security, and integrity procedures that management should build into its automated systems and that auditors should look for when reviewing those systems.Table of ContentsIntroduction xiii PART ONE: AUDITING INTERNAL CONTROLS IN AN IT ENVIRONMENT 1 Chapter 1: SOx and the COSO Internal Controls Framework 3 Roles and Responsibilities of IT Auditors 4 Importance of Effective Internal Controls and COSO 6 COSO Internal Control Systems Monitoring Guidance 21 Sarbanes-Oxley Act 22 Wrapping It Up: COSO Internal Controls and SOx 31 Notes 31 Chapter 2: Using CobiT to Perform IT Audits 32 Introduction to CobiT 33 CobiT Framework 35 Using CobiT to Assess Internal Controls 39 Using CobiT in a SOx Environment 51 CobiT Assurance Framework Guidance 54 CobiT in Perspective 55 Notes 55 Chapter 3: IIA and ISACA Standards for the Professional Practice of Internal Auditing 57 Internal Auditing’s International Professional Practice Standards 58 Content of the IPPF and the IIA International Standards 61 Strongly Recommended IIA Standards Guidance 75 ISACA IT Auditing Standards Overview 76 Codes of Ethics: The IIA and ISACA 79 Notes 81 Chapter 4: Understanding Risk Management Through COSO ERM 82 Risk Management Fundamentals 83 Quantitative Risk Analysis Techniques 92 IIA and ISACA Risk Management Internal Audit Guidance 94 COSO ERM: Enterprise Risk Management 97 IT Audit Risk and COSO ERM 113 Notes 115 Chapter 5: Performing Effective IT Audits 117 IT Audit and the Enterprise Internal Audit Function 118 Organizing and Planning IT Audits 122 Developing and Preparing Audit Programs 127 Gathering Audit Evidence and Testing Results 132 Workpapers and Reporting IT Audit Results 142 Preparing Effective IT Audits 148 Notes 149 PART TWO: AUDITING IT GENERAL CONTROLS 151 Chapter 6: General Controls in Today’s IT Environments 153 Importance of IT General Controls 154 IT Governance General Controls 157 IT Management General Controls 158 IT Technical Environment General Controls 174 Note 174 Chapter 7: Infrastructure Controls and ITIL Service Management Best Practices 175 ITIL Service Management Best Practices 176 ITIL’s Service Strategies Component 179 ITIL Service Design 181 ITIL Service Transition Management Processes 189 ITIL Service Operation Processes 194 Service Delivery Best Practices 198 Auditing IT Infrastructure Management 199 Note 200 Chapter 8: Systems Software and IT Operations General Controls 201 IT Operating System Fundamentals 202 Features of a Computer Operating System 206 Other Systems Software Tools 209 Chapter 9: Evolving Control Issues: Wireless Networks, Cloud Computing, and Virtualization 214 Understanding and Auditing IT Wireless Networks 215 Understanding Cloud Computing 220 Storage Management Virtualization 225 PART THREE: AUDITING AND TESTING IT APPLICATION CONTROLS 227 Chapter 10: Selecting, Testing, and Auditing IT Applications 229 IT Application Control Elements 230 Selecting Applications for IT Audit Reviews 239 Performing an Applications Controls Review: Preliminary Steps 242 Completing the IT Applications Controls Audit 249 Application Review Case Study: Client-Server Budgeting System 255 Auditing Applications under Development 258 Importance of Reviewing IT Application Controls 266 Notes 266 Chapter 11: Software Engineering and CMMi 267 Software Engineering Concepts 267 CMMi: Capability Maturity Model for Integration 269 CMMi Benefits 280 IT Audit, Internal Control, and CMMi 281 Note 282 Chapter 12: Auditing Service-Oriented Architectures and Record Management Processes 283 Service-Oriented Computing and Service-Driven Applications 284 IT Auditing in SOA Environments 294 Electronic Records Management Internal Control Issues and Risks 300 IT Audits of Electronic Records Management Processes 301 Notes 303 Chapter 13: Computer-Assisted Audit Tools and Techniques 304 Understanding Computer-Assisted Audit Tools and Techniques 305 Determining the Need for CAATTs 308 CAATT Software Tools 311 Steps to Building Effective CAATTs 326 Importance of CAATTs for Audit Evidence Gathering 327 Chapter 14: Continuous Assurance Auditing, OLAP, and XBRL 329 Implementing Continuous Assurance Auditing 330 Benefits of Continuous Assurance Auditing Tools 338 Data Warehouses, Data Mining, and OLAP 339 XBRL: The Internet-Based Extensible Markup Language 346 Newer Technologies, the Continuous Close, and IT Audit 351 Notes 351 PART FOUR: IMPORTANCE OF IT GOVERNANCE 353 Chapter 15: IT Controls and the Audit Committee 355 Role of the Audit Committee for IT Auditors 356 Audit Committee Approval of Internal Audit Plans and Budgets 357 Audit Committee Briefings on IT Audit Issues 359 Audit Committee Review and Action on Significant IT Audit Findings 360 IT Audit and the Audit Committee 362 Chapter 16: Val IT, Portfolio Management, and Project Management 363 Val IT: Enhancing the Value of IT Investments 364 IT Systems Portfolio and Program Management 371 Project Management for IT Auditors 374 Notes 383 Chapter 17: Compliance with IT-Related Laws and Regulations 384 Computer Fraud and Abuse Act 386 Computer Security Act of 1987 387 Gramm-Leach-Bliley Act 390 HIPAA: Healthcare and Much More 395 Other Personal Privacy and Security Legislative Requirements 403 IT-Related Laws, Regulations, and Audit Standards 404 Chapter 18: Understanding and Reviewing Compliance with ISO Standards 407 Background and Importance of ISO Standards in a World of Global Commerce 408 ISO Standards Overview 410 ISO 19011 Quality Management Systems Auditing 419 ISO Standards and IT Auditors 421 Notes 421 Chapter 19: Controls to Establish an Effective IT Security Environment 422 Generally Accepted Security Standards 423 Effective IT Perimeter Security 429 Establishing an Effective, Enterprise-Wide Security Strategy 430 Best Practices for IT Audit and Security 432 Notes 433 Chapter 20: Cybersecurity and Privacy Controls 434 IT Network Security Fundamentals 435 IT Systems Privacy Concerns 443 PCI-DSS Fundamentals 446 Auditing IT Security and Privacy 447 Security and Privacy in the Internal Audit Department 448 Notes 453 Chapter 21: IT Fraud Detection and Prevention 454 Understanding and Recognizing Fraud in an IT Environment 455 Red Flags: Fraud Detection Signs for IT and Other Internal Auditors 456 Public Accounting’s Role in Fraud Detection 461 IIA Standards and ISACA Materials for Detecting and Investigating Fraud 462 IT Audit Fraud Risk Assessments 464 IT Audit Fraud Investigations 467 IT Fraud Prevention Processes 468 Fraud Detection and the IT Auditor 471 Notes 471 Chapter 22: Identity and Access Management 472 Importance of Identity and Access Management 473 Identity Management Processes 474 Separation of Duties Identify Management Controls 477 Access Management Provisioning 478 Authentication and Authorization 479 Auditing Identity and Access Management Processes 481 Note 485 Chapter 23: Establishing Effective IT Disaster Recovery Processes 486 IT Disaster and Business Continuity Planning Today 487 Building and Auditing an IT Disaster Recovery Plan 489 Building the IT Disaster Recovery Plan 497 Disaster Recovery Planning and Service Level Agreements 503 Newer Disaster Recovery Plan Technologies: Data Mirroring Techniques 505 Auditing Business Continuity Plans 506 Disaster Recovery and Business Continuity Planning Going Forward 508 Notes 508 Chapter 24: Electronic Archiving and Data Retention 509 Elements of a Successful Electronic Records Management Process 510 Electronic Documentation Standards 516 Implementing Electronic IT Data Archiving 517 Auditing Electronic Document Retention and Archival Processes 519 Chapter 25: Business Continuity Management, BS 25999, and ISO 27001 521 IT Business Continuity Management Planning Needs Today 522 BS 25999 Good Practice Guidelines 524 Auditing BCM Processes 540 Linking the BCM with Other Standards and Processes 543 Notes 543 Chapter 26: Auditing Telecommunications and IT Communications Networks 544 Network Security Concepts 545 Effective IT Network Security Controls 549 Auditing a VPN Installation 555 Note 557 Chapter 27: Change and Patch Management Controls 558 IT Change Management Processes 559 Auditing IT Change and Patch Management Controls 573 Notes 576 Chapter 28: Six Sigma and Lean Technologies 577 Six Sigma Background and Concepts 578 Implementing Six Sigma 580 Lean Six Sigma 587 Notes 590 Chapter 29: Building an Effective IT Internal Audit Function 591 Establishing an IT Internal Audit Function 592 Internal Audit Charter: An Important IT Audit Authorization 593 Role of the Chief Audit Executive 595 IT Audit Specialists 596 IT Audit Managers and Supervisors 598 Internal and IT Audit Policies and Procedures 599 Organizing an Effective IT Audit Function 601 Importance of a Strong IT Audit Function 604 Note 605 Chapter 30: Professional Certifications: CISA, CIA, and More 606 Certified Information Systems Auditor Credentials 607 Certified Information Security Manager Credentials 609 Certificate in the Governance of Enterprise IT 611 Certified Internal Auditor Responsibilities and Requirements 612 Beyond the CIA: Other IIA Certifications 623 CISSP Information Systems Security Professional Certification 628 Certified Fraud Examiner Certification 628 ASQ Internal Audit Certifications 629 Other Internal Auditor Certifications 630 Note 631 Chapter 31: Quality Assurance Auditing and ASQ Standards 632 Duties and Responsibilities of Quality Auditors 633 Role of the Quality Auditor 635 Performing ASQ Quality Audits 638 Quality Assurance Reviews of IT Audit Functions 641 Future Directions for Quality Assurance Auditing 647 Notes 648 Index 649

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Book SynopsisA successful financial planner is someone who does more than just crunch numbers and present an annual investment plan to clients. There is a psychological component to effective client care as well as to issues involving clients' overall financial well-being.Trade ReviewAltfest does an admirable job of detailing the important and often overlooked part of being a successful financial advisor: the human component.--Research MagazineTable of ContentsPreface. Acknowledgments. Introduction. First Meeting: On the Telephone. Sitting Down with Your Prospects: The Initial Consultation. Beginning the Process. Working with Clients. Frequently Recurring Client Fears and Glitches. Being Available. Presenting the Plan. Follow Up. The Media is the Message. Service is Key. Three Ways to Rate Yourself. Appendix: Financial Questionnaire. Index.

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Book SynopsisA guide to the analysis and use of financial statements. It gives you information on evaluating financial statements in volatile markets and complex economies. It provides the analytical framework readers need to scrutinize financial statements whether one is evaluating a company's stock price or determining valuations for a merger or acquisition.Table of ContentsPART 1: QUESTIONS. Questions on Each Chapter. Financial Statement Exercises. Computational Exercises. PART 2: ANSWERS. Answers to Questions on Each Chapter. Answers to Financial Statement Exercises. Answers to Computational Exercises.

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Book SynopsisPraise for Smart Money Decisions If you need to negotiate anything . . . from a pay increase to buying or selling a house-this book covers all the bases. [Bazerman] has taught, tested, and proven his theories with thousands of executives and MBA students.-Donald P. Jacobs, Dean, J. L. Kellogg Graduate School of Management, Northwestern University Max Bazerman provides a fascinating, easy-to-understand look at how we make money decisions and offers sound advice that will help you increase your net worth.-Roger E. Stricker, PhD, Vice President, Intellectual Property, Lucent Technologies By holding a mirror up to our faces, Max Bazerman allows us to see all those dumb money mistakes each of us had no idea we were making.-Bill Bresnan, Financial Talk Show Host/Author When it comes to money matters, even the smartest of us make some pretty dumb decisions. This groundbreaking book gives you the necessary tools to think through financial issTable of ContentsDo I Hear $5 for a $100 Bill? Falling in Love with One Rather Than Three, and Other Common House-Buying Mistakes. I Got the Car for Less Than Invoice. Vivid Scares. Time's Up: How Much Is Your Time Worth? Have I Got a Mutual Fund for You! Which Job Offer Should I Accept?: Negotiating with Yourself and Losing. What's Fair and Why Do You Care? Putting Yourself in the Other Guy's Shoes. Knowing When to Quit. Playing to Win. The Mythical Fixed Pie. Going, Going, Gone. How Much Is It Worth to You? Avoiding Money Mistakes in the Future. Endnotes. About the Author. Index.

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Book SynopsisPublished in association with the Global Association of Risk Professionals As e-commerce and globalization continue to expand, so does the level of operational risk, increasing the need for guidance on how to measure and manage it. This is the definitive guide to managing operational risk in financial institutions.Table of ContentsIntroduction. Operational Risk Management 101: An Executive Summary. The Best Practice Strategies. What is Operational Risk? The Real Opportunity: Creating More Effective Companies. Operational Risk and Market Perception: Franchise, Reputation, and Brand Risk. The Enterprise-Wide Framework: Corporate Governance, Mandate, and Roles. The Operational Risk Management Group. Risk Response Framework and Strategies. Risk Assessment Strategies. Database and Consortia: Working Through the Details. Risk Indicators and Scorecards: Cornerstones for Operational Risk Monitoring. Operational Risk Analysis and Measurement: Practical Building Blocks. Dynamic Risk Profiling and Monitoring. Insurance and Operational Risks: Aligning Conventional Programs. Operational Risk Finance: The Re-Engineering Process. Economic Risk Capital Modeling: Allocation and Attribution. Regulatory Capital and Supervision. An Operational Risk Management Case Study: Managing Internet Banking Risk. Operational Risk Technology and Systems. The Game Plan and Action Steps. Additional Readings. Operational Risk Management: Bibliography of Sources. Endnotes. Index.

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Book SynopsisEverything a trader needs to know to develop a successful system Technical analysis--the reading of price and volume charts to identify trading opportunities--has long been a staple in the trader's toolkit.Table of ContentsDedication. Acknowledgements. Preface. Introduction. Day Trading Methods and Philosophies. Why Traders Lose. People, Prices, Personalities and Probabilities. The Concept of Trend Exhaustion. Conventional Use of Online Indicators. Use of Multiple Indicator Sensitivity Settings. Market Defined Support and Resistance Categories. Use of Support and Resistance in Actual Trading. Combining Dual Signals, Support and Resistance. Directional Day Filter. Trading Dual Oscillators with Directional Day Filter. Putting It All Together. Directional Day Filter Breakout System. Using an Automated System. Using Online Charting Services. Other Indicators and Systems. TradeStation Code.

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Book SynopsisA powerful guide for seeking out the best acquisition and merger targets As increasingly more companies look to mergers and acquisitions (M&As) as a source of new growth and revenue, there is an even greater chance that these M&As will go bad. This insightful guide focuses on one of the most often debated and key issues in mergers and acquisitions-why some deals fail miserably and why others prosper. It provides a complete road map for what potential buyers should look for when picking a target and what characteristics of sellers they should steer clear of, as well as pitfalls to avoid during the M&A process. Real-world examples are provided of high-profile failures-Quaker Oats, United Airlines, Sears, and Mattel-and high-profile successes-General Electric and Cisco. Patrick A. Gaughan (New York, NY) is President of Economatrix Research Associates and a professor of Economics and Finance at the College of Business, Fairleigh Dickinson University. He is actively engaged in tTable of ContentsPreface. Chapter 1: Introduction to Mergers and Acquisitions. Background and Terminology. Merger Process. Economic Classifications of Mergers and Acquisitions. Regulatory Framework of Mergers and Acquisitions. Antitrust Laws. State Corporation Laws. Hostile Takeovers. Takeover Defense. Leveraged Transactions. Restructurings. Reasoning for Mergers and Acquisitions. Trends in Mergers. Conclusion. Case Study: Lessons from the Failures of the Fourth Merger Wave. Chapter 2: Merger Strategy: Why Do Firms Merge? Growth. Examples of Growth as an Inappropriate Goal. Using M&As to Achieve Growth. M&As in a Slow-Growth Industry as a Way to Achieve Growth. Synergy. Merger Gains: Operating Synergy or Revenue Enhancements—Case of Banking Industry. Industry Clustering. Deregulation. Improved Management Hypothesis. Hubris Hypothesis of Takeovers. Winner’s Curse and the Hubris Hypothesis. Cross-Industry Deals and Hubris. Diversification and CEO Compensation. Diversification that Does Seem to Work Better: Related Diversification. Merging to Achieve Greater Market Power. Do Firms Really Merge to Achieve Market Power? Merging to Achieve the Benefits of Vertical Integration. Special Cases of Mergers Motivated by Specific Needs. Conclusion. Case Study: Vivendi. Chapter 3: Merger Success Research. Criteria for Defining Merger Success Using Research Studies. Takeover Premiums and Control. Initial Comment on Merger Research Studies. Research Studies. Mergers of Equals: Acquirers versus Target Gains. Firm Size and Acquisition Gains. Long-Term Research Studies. Long- versus Short-Term Performance and Method of Payment. Bidder Long-Term Effects: Methods of Payment. Bidder’s Performance Over the Fifth Merger Wave. Conclusion. Case Study: Montana Power—Moving into Unfamiliar Areas. Chapter 4: Valuation and Overpaying. Valuation: Part Science and Part Art. Valuation: Buyer versus Seller’s Perspective. Synergy, Valuation, and the Discount Rate. Financial Synergies and the Discount Rate. Toe Holds and Bidding Contests. Bidding Contest Protections. Overpaying and Fraudulent Seller Financials. Valuation and Hidden Costs. Postmerger Integration Costs—Hard Costs to Measure. Conclusion. Case Study: AOL Time Warner. Chapter 5: Corporate Governance: Part of the Solution. Governance Failure. Regulatory Changes. Corporate Governance. Managerial Compensation and Firm Size. Managerial Compensation, Mergers, and Takeovers. Disciplinary Takeovers, Company Performance, and CEOs and Boards. Managerial and Director Voting Power and Takeovers. Shareholder Wealth Effects of Mergers and Acquisitions and Corporation Acquisition Decisions. Post-Acquisitions Performance and Executive Compensation. Lessons from the Hewlett-Packard–Compaq Merger: Shareholders Lose, CEOs Gain. CEO Power and Compensation. Do Boards Reward CEOs for Initiating Acquisitions and Mergers? Corporate Governance and Mergers of Equals. Antitakeover Measures and Corporate Governance. Conclusion. Case Study: WorldCom. Chapter 6: Reversing the Error: Sell-Offs and Other Restructurings. Divestitures. Decision: Retain or Sell Off. Spin-Offs. Involuntary Spin-Offs. Defensive Spin-Offs. Tax Benefits of Spin-Offs. Shareholder Wealth Effects of Sell-Offs. Rationale for a Positive Stock Price Reaction to Sell-Offs. Wealth Effects of Voluntary Defensive Sell-Offs. Wealth Effects of Involuntary Sell-Offs. Financial Benefits for Buyers of Sold-Off Entities. Shareholder Wealth Effects of Spin-Offs. Corporate Focus and Spin-Offs. Equity Carve-Outs. Benefits of Equity Carve-Outs. Equity Carve-Outs Are Different from Other Public Offerings. Shareholder Wealth Effects of Equity Carve-Outs. Under Which Situations Should a Company Do a Spin-Off versus an Equity Carve-Out? Shareholder Wealth Effects of Tracking Stock Issuances. Conclusion. Case Study: DaimlerChrysler. Chapter 7: Joint Ventures and Strategic Alliances: Alternatives to Mergers and Acquisitions. Contractual Agreements. Comparing Strategic Alliances and Joint Ventures with Mergers and Acquisitions. Joint Ventures. Motives for Joint Ventures. Regulation and Joint Ventures. Shareholder Wealth Effects of Joint Ventures. Shareholder Wealth Effects by Type of Venture. Restructuring and Joint Ventures. Potential Problems with Joint Ventures. Strategic Alliances. Governance of Strategic Alliances. Shareholder Wealth Effects of Strategic Alliances. Shareholder Wealth Effects by Type of Alliance. What Determines the Success of Strategic Alliances? Potential for Conflicts with Joint Ventures and Strategic Alliances. Cross Stock Holdings as Conflict Insurance. Conclusion. Case Study: AT&T. Index.

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Book SynopsisMinimize risk and maximize profits with convertible arbitrage Convertible arbitrage involves purchasing a portfolio of convertible securities-generally convertible bonds-and hedging a portion of the equity risk by selling short the underlying common stock. This increasingly popular strategy, which is especially useful during times of market volatility, allows individuals to increase their returns while decreasing their risks. Convertible Arbitrage offers a thorough explanation of this unique investment strategy. Filled with in-depth insights from an expert in the field, this comprehensive guide explores a wide range of convertible topics. Readers will be introduced to a variety of models for convertible analysis, the Greeks, as well as the full range of hedges, including titled and leveraged hedges, as well as swaps, nontraditional hedges, and option hedging. They will also gain a firm understanding of alternative convertible structures, the use of foreign convertibles in hedgingTrade Review"...filled with in-depth insights and a wide range of convertible topics, provides a thorough explanation..." (Financial World, January 2004)Table of ContentsChapter 1. Convertible Arbitrage: An Overview. Convertible Arbitrage—A Brief History. Why Hedge with Convertibles? Convertible Arbitrage Performance. What About Risks? Basics of Convertible Securities. Risk-Reward Analysis. Methods of Valuation. Convertible Profile Graph. Basics of Convertible Arbitrage. Multiple Convertible Structures. Appendix 1.1. Chapter 2. Valuation. Convertible Valuation Models. Binomial Option Model. Chapter 3. The Greeks. Measures of Risk. Delta (.). Gamma (Γ). Vega (v). Theta (.). Rho (ρ). More on Volatility. Chi (χ). Omicron (ο). Upsilon ( υ). Phi ( φ). Mandatory Convertible Greeks. Chapter 4. Credit and Equity Considerations. Credit Evaluation. Credit Analysis and Equity Market Feedback. Asset Value Credit Evaluation. Cash Flow and Valuing a Business. Business Valuation Model. I. Cash Inflows: Capital Employed. II. Cash Outflows: Economic Profit. III. Cash-Inflow Model. IV. Intrinsic Business Value. Chapter 5. Convertible Arbitrage Techniques. Delta Neutral Hedge (Long Volatility). Delta Estimates versus Theoretical Deltas. Dynamic Rebalancing of the Delta Neutral Hedge. Delta Neutral Hedge on Leverage. Delta Hedge—Currency Hedge Overlay. Appendix 5.1. Appendix 5.2. Chapter 6. Gamma Hedging. Capturing the Gamma in a Convertible Hedge. Bearish Tilt Gamma Convertible Hedge. Bearish Gamma Hedge on Leverage. The Gamma Tilt Hedge’s Role in a Market Neutral Portfolio. Chapter 7. Convertible Option Hedge Techniques. Covered or Partially Covered Convertible Call Option Hedge. Long Convertible Stock Hedge with Call Write Overlay. Synthetic Bond—Long Busted Convertible with Call Write. and Long Out-of-the-Money Call for Protection. Convertible Stock Hedge—Put Purchase Provides Additional. Downside Protection. Convertible Hedge Call Write with Protective Long Put. Mandatory Convertible Preferred—Stock Hedge with Call Write Overlay. Chapter 8. Convertible Asset Swaps and Credit Default Swaps. Convertible Asset Swaps—Extracting Cheap Options from Investment-Grade Convertibles. The Mechanics of Convertible Asset Swapping. Swap Hedge Setup. Convertible Bond Credit Default Swap—Transfer Credit Risk in a Hedge. Appendix 8.1. Chapter 9. Non-traditional Hedges. The Reverse Hedge. Call Option Hedge: Monetization of a Cheap Embedded Call Option. Stock Hedge to Capture Cheap or Free Put Options. Convergence Hedges. Merger and Acquisition Risk Arbitrage Trades. Reset Convertibles (or Death Spiral Convertibles). Capital Structure Hedge. Distressed Convertible Hedge or Negative Gamma Hedge Opportunities. Basket Hedging Equity Delta. Synthetic Worksheet Hedge. Dividend Reduction Convertible Hedge. Trading Desk Value Added. Trade Execution. Appendix 9.1. Appendix 9.2. Take-Over Risks—An Example. Chapter 10. Portfolio Risk Management. Balance Sheet Leverage. Scenario Analysis. Hedging Systematic Risks with Index Options. Hedging Interest Rate Risk—Yield Curve Shifts. Hedging Volatility with Volatility Swaps. Hedging Omicron with Volatility Swaps. Hedging Omicron with Credit Default Swap Basket or Short Closed End Funds. Rough Spots for Convertible Arbitrage. Managing the Convertible Arbitrage Manager. Glossary. Index.

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Book SynopsisGives a snapshot of the role of accounting firms in the twenty first century. This work explores the transformation of CPAs from independent voices on behalf of the shareholder to Corporate America's best friend. It also examines the implications of this shift for investors, the industry, and the economy.Table of ContentsMy Introduction to Accounting 1 CHAPTER 1 The First Accountants 21 CHAPTER 2 The Birth of an American Profession 41 CHAPTER 3 Accountants Earn a Public Trust 67 CHAPTER 4 The Quest for Growth 99 CHAPTER 5 Cracks in the Facade 123 CHAPTER 6 The End of the Audit 159 CHAPTER 7 The Fight of His Life 187 CHAPTER 8 Enron and the Fall of Andersen 225 CHAPTER 9 Accounting 101 255 CHAPTER 10 The Future of Accounting 281 Notes 299 Bibliography 315 Index 317

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Book SynopsisPraise for THE MILLIONAIRE CODE "A wonderfully worthy book, especially in an era when the wrong kind of capitalism has been in the driver's seat. The Millionaire Code is about something far more noble than money-the joy of living your life to the fullest simply by finding what it is you love to do, and then doing it.Table of ContentsAcknowledgments. Part 1: Introduction: Unleash the Millionaire within You. 1. A New Way of Thinking . . . Getting Rich in Spirit and in Fact. 2. Historical Overview: Unlocking the Secret of the Millionaire Personality. 3. Jung’s Four-Step Decision-Making Process for the Millionaire within You 23 Part 2: Test Yourself and Discover Your Unique Millionaire’s Code. 4. The Millionaire’s Code: Tap into the Secret Power within You. 5. Test the First Letter: Extravert or Introvert (E or I)? 6. Test the Second Letter: Sensor or Intuitive (S or N)? 7. Test the Third Letter: Thinking or Feeling (T or F)? 8. Test the Fourth Letter: Judging or Perceiving (J or P)? 9. Discover the Real You in the “X-Factor” of Your Millionaire’s Code. Part 3: The Four Temperaments in Millionaire Profiling. 10. The Millionaire Temperaments: A Shortcut to the Millionaire Within. 11. Freelance Creators: Sensor-Perceivers (SP). 12. Systems Masterminds: Intuitive-Thinkers (NT). 13. The Pathfinders: Intuitive-Feelers (NF). 14. Guardians of the Establishment: Sensor-Judgers (SJ). 15. Hybrids, Dual Personalities, and Genetic Code Reprogramming. Part 4: The 16 Millionaire Personality Codes. 16. The 16 Millionaire Personalities. Freelance Creators. 17. Entrepreneurs and Promoters (ESTP) (Donald Trump, Richard Branson, Robert Kiyosaki). 18. Entertainers and Performers (ESFP) (Fred Astaire, Tom Hanks, Bruce Springsteen). 19. Master Craftsmen (ISTP) (Clint Eastwood, Tom Cruise, Michael Jordan). 20. Directors and Composers (ISFP) (Andrew Lloyd Weber, Ray Bradbury, Stephen Spielberg). Systems Masterminds. 21. Commanders in Chief (ENTJ) (Winston Churchill, Rudy Giuliani, John F. Kennedy). 22. Master Innovators (ENTP) (Thomas Edison, Benjamin Franklin, Thomas Jefferson). 23. Chief Strategists (INTJ) (Dwight D. Eisenhower,Vince Lombardi, Charles Munger). 24. Visionary Thinkers (INTP) (Albert Einstein, Carl G. Jung, Stephen Hawking). The Pathfinders. 25. Inspiring Teachers (ENFJ) (Joseph Campbell, Gary Zukav, Stephen Covey). 26. Champions and Causes (ENFP) (Mahatma Gandhi, Mother Teresa, the Dalai Lama). 27. Healing Counselors (INFJ) (M. Scott Peck,Wayne Dyer, Thomas Moore). 28. Mystic Heroes (INFP) (Richard Bach, Richard Carlson, Julia Cameron). Guardians of the Establishment. 29. Chief Executive Officers (ESTJ) (Warren Buffett, Jack Bogle, Charles Schwab). 30. Peacemakers (ESFJ) (George Soros,William Ury, Andrew Carnegie). 31. Results-Oriented Experts (ISTJ) (Peter Drucker, James Loehr, Chuck Norris). 32. Master-Servants (ISFJ) (Thomas Merton, Thich Nhat Hanh, Jesus, Buddha). Epilogue. The Millionaire’s Basic Training Library. Bibliography. Index. About the Author.

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Book SynopsisThe definitive guide to fixed income valuation and risk analysis The Trilogy in Fixed Income Valuation and Risk Analysis comprehensively covers the most definitive work on interest rate risk, term structure analysis, and credit risk.Table of ContentsList of Figures. List of Tables. Chapter 1: Interest Rate Risk Modeling: An Overview. Duration and Convexity Models. M-Absolute and M-Square Models. Duration Vector Models. Key Rate Duration Models. Principal Component Duration Models. Applications to Financial Institutions. Interaction with Other Risks. Notes. Chapter 2: Bond Price, Duration, and Convexity. Bond Price under Continuous Compounding. Duration. Convexity. Common Fallacies Concerning Duration and Convexity. Formulas for Duration and Convexity. Appendix 2.1: Other Fallacies Concerning Duration and Convexity. Notes. Chapter 3: Estimation of the Term Structure of Interest Rates. Bond Prices, Spot Rates, and Forward Rates. Term Structure Estimation: The Basic Methods. Advance Methods in Term Structure Estimation. Notes. Chapter 4: M-Absolute and M-Square Risk Measures. Measuring Term Structure Shifts. M-Absolute versus Duration. M-Square versus Convexity. Closed-Form Solutions for M-Square and M-Absolute. Appendix 4.1: Derivation of the M-Absolute and M-Square Models. Appendix 4.2: Two-Term Taylor-Series-Expansion Approach to the M-Square Model. Notes. Chapter 5: Duration Vector Models. The Duration Vector Model. Generalized Duration Vector Models. Appendix 5.1: Derivation of the Generalized Duration Vector Models. Notes. Chapter 6: Hedging with Interest-Rate Futures. Eurodollar Futures. Treasury Bill Futures. Treasury Bond Futures. Treasury Note Futures. Appendix 6.1: The Duration Vector of the Eurodollar Futures. Appendix 6.2: The Duration Vector of the T-Bond Futures. Notes. Chapter 7: Hedging with Bond Options: A General Gaussian Framework. A General Gaussian Framework for Pricing Zero-Coupon Bond Options. The Duration Vectors of Bond Options. The Duration Vector of Callable Bonds. Estimation of Duration Vectors Using Non-Gaussian Term Structure Models. The Durations of European Options on Coupon Bonds and Callable Coupon Bonds. Chapter 8: Hedging with Swaps and Interest Rate Options Using the LIBOR Market Model. A Simple Introduction to Interest Rate Swaps. Motivations for Interest Rate Swaps. Pricing and Hedging with Interest Rate Swaps. Forward Rate Agreements. Pricing and Hedging with Caps, Floors, and Collars Using the LIBOR Market Model. Interest Rate Swaptions. Numerical Analysis. Notes. Chapter 9: Key Rate Durations with VaR Analysis. Key Rate Changes. Key Rate Durations and Convexities. Risk Measurement and Management. Key Rate Durations and Value at Risk Analysis. Limitations of the Key Rate Model. Appendix 9.1: Computing Key Rate Risk Measures for Complex Securities and under Maturity Mismatches. Notes. Chapter 10: Principal Component Model with VaR Analysis. From Term Structure Movements to Principal Components. Principal Component Durations and Convexities. Risk Measurement and Management with the Principal Component Model. VaR Analysis Using the Principal Component Model. Limitations of the Principal Component Model. Applications to Mortgage Securities. Appendix 10.1: Eigenvectors, Eigenvalues, and Principal Components. Appendix 10.2: Computing Principal Component Risk Measures for Complex Securities and under Maturity Mismatches. Notes. Chapter 11: Duration Models for Default-Prone Securities. Pricing and Duration of a Default-Free Zero-Coupon Bond under the Vasicek Model. The Asset Duration. Pricing and Duration of a Default-Prone Zero-Coupon Bond: The Merton Framework. Pricing and Duration of a Default-Prone Coupon Bond: The First Passage Models. Appendix 11.1: Collin-Dufresne and Goldstein Model. Notes. References. About the CD-ROM. Index.

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Book SynopsisCovers macro market timing, stock specific approaches, money management revelations, and intermarket analysis. This book shows the best time and stocks to buy.Table of ContentsPREFACE. CHAPTER 1: The 10-Year Pattern in the United States Stock Market. CHAPTER 2: The Four-Year Phenomenon. CHAPTER 3: The Amazing October Effect. CHAPTER 4: How to Know for Sure the Bottom Is Here. CHAPTER 5: The Next Move Up: Why It Will Be So Spectacular. CHAPTER 6: The Purpose of Investing. CHAPTER 7: How to Supercharge Your Investment Return. CHAPTER 8: The Old Economy Is the New Economy. CHAPTER 9: Measuring Investor Sentiment for Individual Stocks. CHAPTER 10: The Investment Challenge You Face. CHAPTER 11: Putting It All Together for Long-Term Investment Success. CHAPTER 12: Money Management: The Keys to the Kingdom. CHAPTER 13: Final Thoughts: Nonrandom Thoughts on a Random Market. INDEX.

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Book SynopsisCovers many types of real estate investments for those people who want a safe and reliable alternative to the stock market. It provides ways to make a buck without risking everything as the stock market grows increasingly unstable.Trade Review"...But if you know nothing about finding, buying and selling property or little about finance...author Gary Eldred is your guy." (Miami Herald, October 8, 2003) Gary W. Eldred, in his Make Money With Condominiums and Townhouses, differs from those get-rich-quick types who imply that all it takes to be a landlord-tycoon is creative financing and chutzpah. Real estate can be rewarding, but you have to do your homework. Lots of it. This is where Eldred - a Realtor who has taught at Stanford University and the University of Illinois and co-wrote the thorough Investing in Real Estate with Andrew McLean - comes in. How do you choose the right condo or town house? The due diligence you have to exercise is considerable. When you are negotiating to buy a unit, the seller has to show you legal and financial documents about the homeowner's association. Read them closely. A homeowner's association that is in financial trouble is more likely to levy special assessments on homeowners to cover deficits or pay for maintenance or repairs. Other questions: Does the association carry enough insurance? Is it suing or being sued? (Guess who'll pay the legal bills.) Know that sellers and Realtors must disclose any serious defects of a property that they are aware of. Does a condo development have too many renters? That could harm property values. How do you evaluate unit location, density, size (measurement errors happen frequently), livability, security, parking, amenities and so forth? If your eyes glaze over at all the detail Eldred provides, you may not be cut out to be a real estate investor. Why invest in condos and town houses? Because in many areas, single-family homes have become too expensive relative to the rental income they can bring. Eldred gives a good overview of what you need to know before you plunge into the exciting (but perilous) world. Read Make Money With Condominiums in conjunction with his earlier book, Investing in Real Estate, for more insight into how to find bargains and obtain financing from less-known channels. (USA TODAY, October 20, 2003)Table of Contents1. The Lazy Investor’s Way to Wealth. Condominiums Attract Better Tenants. Why Condos Attract Better Tenants. The One Easy Test: Who’s Moving In, Who’s Moving Out. Your Procedures Count, Too! Can Investors (Lazy or Not) Really Build Wealth with Condos and Townhouses? Why Such Neglect? How You Will Profit with Condos. Appreciation. The Historical Record. What Does the Future Hold? Summing Up. 2. Bulls, Bears, and Cash Cows. The Mortgage Paydown. Wealth without Appreciation. Add to Your Principal Payments. Certainty over Uncertainty. Plan Your Wealth Building: Stocks versus Condos. Cash Flow. Condo Investors Earn More Cash Flow. How to Jump the Hurdle of Negative Cash Flows. Shelter Your Cash from the IRS. Depreciation. Tax-Free Exchanges. Homeowners Receive Tax-Free Gains. Gain Tax-Free Cash with a Cash-Out Refinance. Summing Up. 3. Get to Know the Development. Condo Communities Appeal to Buyers of All Incomes. Key Sources of Satisfaction and Dissatisfaction. Features and Price. Your Best Opportunity. Resale Potential. Good Buy. No Simple Rules. Why Stress This Point? The HOA. The Organizational Structure. The Board of Directors. Management. Committees. Attorney and Auditor. 4. Do the HOA Finances Look Good? Undisclosed Leases. Sweetheart Contracts. Understated HOA Fees. The Budget. Special Assessments. Mandatory Payment. “I Don’t Care! I’m Not Paying”. HOA Boards Must Follow Specified Procedures and Forms. Your Financial Due Diligence: Summing Up. How Much Insurance? The Lesson of the Oakland-Berkeley Firestorm. Any Lawsuits? HOA as Plaintiff. HOA as Defendant. Be Wary of HOAs in Litigation. 5. What Do Condo Residents Say? What Residents Say about Their Condos/ Townhouses. Overall Satisfaction. Wise Investors Pay Attention to the Negatives (and Positives) of Condo Buildings and Developments. What Features Rank Most Important? Poor Construction, Careless Workmanship, and Unexpected Repairs and Replacements. Government Inspectors Sometimes Fail to Do Their Jobs. When Buying an Existing Unit, Check the Resale Package. Seller Disclosures. Unethical Builders and Sales Reps. Sales Rep Disconnect. The Documents Control. Children: Little Monsters or Little Darlings. Potential Problems. A Parent Speaks. Pets. Problems with Renters. Should You Buy into a Project That’s Heavy with Renters? Exercise Investor Responsibility. 6. More Likes and Dislikes of Community Living. Density. People per Unit. Project Density versus Unit Crowding. Multiple Visits/Curb Appeal. Unit Location. Perimeter or Interior Building Site. Why Underprice Preferred Locations? Downhill or Uphill? Sight, Sound, and Smell. Unit Features and Design. Uniform versus Uniformly Beautiful. Unit Size. Livability. Recreational Amenities. Will Tenants Pay Higher Rents? What If Tenants Pay and Play? What to Do? Security. I Love “Lock and Leave”. Play It Safe: Ask! Summing Up: Likes and Dislikes. 7. Understand the Bylaws. Rules Create Value. No Supply Because There’s No Demand. Choose the Right HOA for You. What Will You Find in the Resale Package? Creating Value within a Context of Fairness. The Condo Bylaws. Meetings of Members (Article III). Board of Directors (Articles IV–VI). Power and Duties (Article VII). Association Officers and Duties (Article VIII). Committees, Records, Assessments, and Seal (Articles IX–XII). The Amendment Process (Article XIII). Summing Up. 8. Understand the Declaration. The Declaration Creates and Governs the HOA. Don’t Rely on the Legal Opinions of a Real Estate Agent. Not an Indictment. The Purpose and Terms of the Declaration. One Drawback. Generalities or Details? The Terms of the Declaration. Summing Up. 9. Understand the Rules and Regulations. Board-Issued Rules: Community Values or Dictatorship. What Rules and Why? Maintenance of Unit (1). Unit Occupancy and Use (2). Balcony/Terrace (3). Charcoal Grills (6). Parking (9). Pool/Pond Rules (11). Pets (12). Flip Charge (15). Signs (23). Guests (26). Leases (33). Capital Improvements (36). Owner Additions and Alterations (37). Utility Services (39) 204 Right of First Refusal (40). Enforcement of Rules (42). $50 Fine per Occurrence per Day. 10. Choose a Profitable Location. In Which Company Should You Invest: General Motors or Microsoft? Too Optimistic on Microsoft. Negative Outlook on GM. GM’s Stock Outperforms Microsoft. Personal or Financial? Location Incorporates a Milieu of Features. Convenience: Easy Come, Easy Go? Let Me Count the Ways. Times of the Day or Week. Bad Weather, Bridge Out, Road Work? Environment. Economic Base. Demographics and Psychographics: Incomes, Lifestyles, and Attitudes. Aesthetics: Sights, Sounds, Smell. Zoning and Other Related Ordinances. Safe and Secure. Fiscal Soundness. Political Responsiveness. Discover Your Area’s Microclimates. Location: Summing Up. 11. Predict the Future. How to Define “Bargain”. Appraisals Shortchange Fundamentals. Focus on the Recent Past. Appraisals Ignore Other Areas. Appraisals Shortchange Economic Fundamentals. Summing Up: The Market Value Mistake. Current Market Data. Time on Market. Asking Price/Selling Price. Inventory of Unsold Properties. Properties under Contract. Mortgage Purchase Applications, Delinquencies, and Foreclosures. Vacancy Rates. Summing Up: The Current Market. Boom and Bust Cycles. Boom and Bust Myth. Media Distortion versus Local Market Experience. Condos: Boom, Bust, and Recovery. Don’t Prejudge: Weigh Risks against Potential Rewards. How to Spot a Condo Bargain. 12. Buy and Finance Your Condominium(s). Negotiate a Win-Win Purchase Agreement. Win-Win Principles. The Purchase Contract. Maximize Your Leverage with Owner-Occupancy Financing. Owner-Occupied Buying Strategies. Homeowners, Too, Can Use This Method. Why One Year? Where Can You Find High LTV Owner-Occupied Mortgages? High Leverage for Investor-Owned Financing. What Underwriting Standards Do Lenders Apply? Automated Underwriting. 13. Tailor Your Lease Agreements. Use Your Lease in Your Market Strategy. Competitive Advantage. What Terms Might You Negotiate? Lease Options. Here’s How It Works. Benefits to Investors. 14. Your Easier Path to Wealth and Income. Less Risk. Personal Opportunity. Index.

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Book SynopsisWritten as a guide to a dynamic, and increasingly important field, Modern Project Finance: A Casebook provides a detailed description and analysis of project-financed transactions. Other books describe what project finance is and how it works--Benjamin Esty, of the Harvard Business School, brings his expertise to a collection of cases that analyze the challenges of structuring, valuing, and financing project companies.Table of ContentsAcknowledgments. About the Author. 1. Introduction to Modern Project Finance. 2. An Overview of Project Finance. 3. Why Study Large Projects? MODULE 1. STRUCTURE PROJECTS. 4. The Chad-Cameroon Petroleum Development and Pipeline Project (A). 5. Australia-Japan Cable: Structuring the Project Company. 6. Calpine Corporation: The Evolution from Project to Corporate Finance. 7. BP Amoco (A): Policy Statement on the Use of Project Finance. 8. BP Amoco (B): Financing Development of the Caspian Oil Fields. MODULE 2. VALUING PROJECTS. 9. Airbus A3XX: Developing the World's Largest Commercial Jet (A). 10. Nghe An Tate & Lyle Sugar Company (Vietnam). 11. An Economic Framework for Assessing Development Impact. 12. Texas High-Speed Rail Corporation. 13. Contractual Innovation in the UK Energy Markets: Enron Europe, The Eastern Group, and the Sutton Bridge Project . 14. Bidding for Antamina MODULE 3: MANAGING RISKY PROJECTS. 15. Petrolera Zuata, Petrozuata C.A. 16. Poland's A2 Motorway. 17. Restructuring Bulong's Project Debt. 18. Mobile Energy Services Company. 19. Financing the Mozal Project. MODULE 4. FINANCING PROJECTS. 20. Chase's Strategy for Syndicating the Hong Kong Disneyland Loan (A). 21. The International Investor: Islamic Finance and the Equate Project . 22. Introduction to Islamic Finance (note). 23. Financing PPL Corporation's Growth Strategy. 24. Basel II: Assessing the Default and Loss Characteristics of Project Finance Loans. 25. Iridium LLC. REFERENCE MATERIAL. Project Finance Research, Data, and Information Sources. Project Finance Glossary. Index.

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Book SynopsisAuthored by acknowledge experts in the field, this book helps traders understand options on futures and arms them with cutting-edge strategies and techniques for making the most of these incredibly versatile instruments. The authors cover all key trades, including credit spreads, ratio spreads, calendar spreads, and more.Table of ContentsIntroduction. Trading Options the "Write" Way. Why Trade Options on Futures? S&P Future Basics/The Option Pricing Story. Understanding S&P 500 Options. The Long and Short of an S&P Credit Spread. Simulating Margin Requirements for an S&P Credit Spread. Parameters of Profitability of S&P Credit Spreads. Commodity Futures and Options Charaacteristics. Selling Strategies for Commodity Options. Putting Theory into Practice. Synthetic Call Strategies for Commodities. Using Put-Call Ratio Analysis to Find Timely Entries. The Coulda-Woulda-Shoulda Approach Is Not Going to Make You Any Money. Glossary of Options on Futures Terms. Appendix A: Historical Commodity Charts (Monthly). Appendix B: Historical Commodity Charts (Daily). Appendix C: Historical Commodity Price Ranges (Quarterly). Appendix D: Select Futures and Options Contract Specifications. Appendix E: Futures and Options Contract Point Values. Appendix F: Futures and Options Resources on the Internet. Appendix G: Equity-Only Put-Call Ratio Data. Index.

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Book SynopsisPraise for Competing for Capital An indispensable guide for investor relations and communication counselors alike. With more individual investors in the market than ever before, this book makes navigating the new regulatory playing field much more possible--and makes clear the path to victory. --Michael W. Robinson Director, Levick Strategic Communications; Former Director of Public Affairs and Policy, U.S. Securities and Exchange Commission (SEC); Director of Media Relations, NASD More than simply writing a textbook on IR, Bruce Marcus shares his wealth of experience and critical viewpoint with those seeking to understand a fast-changing profession. --June Filingeri President of Comm-Partners LLC, Investor Relations Consultant, and Educator Bruce Marcus puts some solid ground under the shifting landscape of being an investor relations professional. A must-read primer for public companies. --Robert C. Roeper ManTable of ContentsAcknowledgments ix Preface xiii CHAPTER 1 Strategic Factors in a New Environment 1 The Coming of Sarbanes-Oxley and the Brave New World CHAPTER 2 The New Investor—and What Influences the Investment Decision 9 This Ain't Your Father's House No More CHAPTER 3 Regulation 27 Rules Of Disclosure—The SEC and Sarbanes-Oxley CHAPTER 4 The Street 65 A Funny Thing Happened on the Way to Unbridled Wealth . . . CHAPTER 5 Talking to the Financial Community and the Shareholder 89 Let Me Tell You About Our Company . . . CHAPTER 6 Analysis and Analysts 123 What Do Analysts Really Want (Besides a Crystal Ball)? CHAPTER 7 Dealing with the Business and Financial Media 165 On and Off the Record to Get It Right CHAPTER 8 The Future of Investor Relations 205 If We Don't Know Where We're Going, How Do We Know How to Get There? Index 209 About the Author 217

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Book SynopsisYou don't have to be gifted to be a great credit collector. All you need is a desire to learn from the best... and that's the level of expertise this exhaustively researched volume puts right at your fingertips. The Collection Management Handbook puts you on the fast track to becoming a debt recovery dynamo.Table of ContentsPreface. Acknowledgments. Chapter 1. A New Collection Science Is Born. Chapter 2. Oratory and Advanced Communication Skills. Chapter 3. Selling Psychology Applied to Collections. Chapter 4. Advanced Collection Techniques. Chapter 5. Small-Balance Collection. Chapter 6. Suing in Small Claims Court. Chapter 7. Making Your Debtors an Offer They Can't Refuse. Chapter 8. Skip Tracing and Asset Searches. Chapter 9. Legal Recovery. Chapter 10. Enforcement of Money Judgments and Investigatory Skills. Chapter 11. Case Studies. Chapter 12. Conclusion. Appendix: Accounts Receivable Proficiency Exam. Index.

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Book SynopsisThe first in-depth analysis of pairs trading Pairs trading is a market-neutral strategy in its most simple form. The strategy involves being long (or bullish) one asset and short (or bearish) another. If properly performed, the investor will gain if the market rises or falls.Table of ContentsPreface. Acknowledgments. PART ONE: BACKGROUND MATERIAL. Chapter 1. Introduction. The CAPM Model. Market Neutral Strategy. Pairs Trading. Outline. Audience. Chapter 2. Time Series. Overview. Autocorrelation. Time Series Models. Forecasting. Goodness of Fit versus Bias. Model Choice. Modeling Stock Prices. Chapter 3. Factor Models. Introduction. Arbitrage Pricing Theory. The Covariance Matrix. Application: Calculating the Risk on a Portfolio. Application: Calculation of Portfolio Beta. Application: Tracking Basket Design. Sensitivity Analysis. Chapter 4. Kalman Filtering. Introduction. The Kalman Filter. The Scalar Kalman Filter. Filtering the Random Walk. Application: Example with the Standard & Poor Index. PART TWO: STATISTICAL ARBITRAGE. Chapter 5. Overview. History. Motivation. Cointegration. Applying the Model. A Trading Strategy. Road Map for Strategy Design. Chapter 6. Pairs Selection in Equity Markets. Introduction. Common Trends Cointegration Model. Common Trends Model and APT. The Distance Measure. Interpreting the Distance Measure. Reconciling Theory and Practice. Chapter 7. Testing for Tradability. Introduction. The Linear Relationship. Estimating the Linear Relationship: The Multifactor Approach. Estimating the Linear Relationship: The Regression Approach. Testing Residual for Tradability. Chapter 8. Trading Design. Introduction. Band Design for White Noise. Spread Dynamics. Nonparametric Approach. Regularization. Tying Up Loose Ends. PART THREE: RISK ARBITRAGE PAIRS. Chapter 9. Risk Arbitrage Mechanics. Introduction. History. The Deal Process. Transaction Terms. The Deal Spread. Trading Strategy. Quantitative Aspects. Chapter 10. Trade Execution. Introduction. Specifying the Order. Verifying the Execution. Execution During the Pricing Period. Short Selling. Chapter 11. The Market Implied Merger Probability. Introduction. Implied Probabilities and Arrow-Debreu Theory. The Single-Step Model. The Multistep Model. Reconciling Theory and Practice. Risk Management. Chapter 12. Spread Inversion. Introduction. The Prediction Equation. The Observation Equation. Applying the Kalman Filter. Model Selection. Applications to Trading. Index.

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Book SynopsisWith the death of day trading, swing trading has become an increasingly popular and successful trading strategy. Author John Crane has developed a unique and innovative method to trading futures and stocks by combining price levels, timing methods, and confirmation patterns into his proprietary Action/Reaction predictive theory.Trade Review“Crane’s publication adds to the relatively limited amount of literature on a valuable subject.” (The Technical Analyst, May 2004)Table of ContentsPreface xiii Introduction xv CHAPTER 1 Order from Chaos 1 A discussion of market behavior—how it is affected by human emotions and by economic supply and demand. The Action/Reaction theory of a natural cycle that circulates throughout the market. CHAPTER 2 What Is a Reaction Swing? 9 The Reaction swing is the central point where the Action ends and the Reaction begins. Rules to identify Reaction swings and to project future turning points in the market. CHAPTER 3 “Swing Trading” the Reaction Swing 23 Using the Reaction swing to identify short-term trading signals. Rules for entry. Target projections based on time and price. CHAPTER 4 The Reaction Cycle 45 Market trends will unfold through an identifiable pattern called the Reaction cycle. How to identify each segment of this cycle from beginning to end. CHAPTER 5 Reaction Lines 57 Projecting target prices using Action/Reaction lines. CHAPTER 6 The Price Is Right 73 Where and when is the right time to exit a trade? An easy method to determine when the price is right. CHAPTER 7 Reversal Dates and the Gann Fan 85 Reversal dates are based on a natural cycle that circulates through the market. How natural support and resistance levels can work in conjunction with the Reversal dates. CHAPTER 8 Market Tells 101 Price patterns exhibit specific characteristics. How these patterns foretell future market action. CHAPTER 9 Time, Price, and Pattern Working Together 131 Combining time and price projections with price patterns to confirm entry and exit signals. CHAPTER 10 When the Patterns Do Not Match Exactly 137 Nothing works 100 percent of the time. What to do when the patterns do not match exactly. CHAPTER 11 Bullish and Bearish Divergence 147 Another technical indicator used to identify trend exhaustion. CHAPTER 12 When You Can’t Find the Cycle 155 An alternative use of the Reaction swing. A testimony for the versatility of the Reaction swing. Using one Reaction swing to project several future Reversal dates. CHAPTER 13 Long-Term Trend versus Short-Term Trend 171 Long-term trends are often connected by a specific pattern. How to identify the long-term trends using the A-B-C pattern. CHAPTER 14 When Is the Price Right? 179 Price can exceed time when unexpected events surprise the market. How the Action/Reaction lines establish predetermined exit targets. CHAPTER 15 Stocks 187 Applying the Reaction swing methodology to individual stocks. CHAPTER 16 Knowledge Is Power 193 The best investment that you can make is investment in yourself. The market knowledge that will give you the edge. CHAPTER 17 Some Final Words 197 Words of wisdom. Resources for Traders 201 APPENDIX: Charting Basics 205 What you should know about bar charts. Index 213

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Book SynopsisCutting-edge insight from the leader in trading technology In Cybernetic Analysis for Stocks and Futures, noted technical analyst John Ehlers continues to enlighten readers on the art of predicting the market based on tested systems. With application of his engineering expertise, Ehlers explains the latest, most advanced techniques that help traders predict stock and futures markets with surgical precision. Unique new indicators and automatic trading systems are described in text as well as Easy Language and EFS code. The approaches are universal and robust enough to be applied to a full range of market conditions. John F. Ehlers (Santa Barbara, CA) is President of MESA Software (www.mesasoftware.com) and has also written Rocket Science for Traders (0-471-40567-1) as well as numerous articles for Futures and Technical Analysis of Stocks & Commodities magazines.Table of ContentsIntroduction. CHAPTER 1: The Fisher Transform. CHAPTER 2: Trends and Cycles. CHAPTER 3: Trading the Trend. CHAPTER 4: Trading the Cycle. CHAPTER 5: The CG Oscillator. CHAPTER 6: Relative Vigor Index. CHAPTER 7: Oscillator Comparison. CHAPTER 8: Stochasticization and Fisherization of Indicators. CHAPTER 9: Measuring Cycles. CHAPTER 10: Adaptive Cycle Indicators. CHAPTER 11: The Sinewave Indicator. CHAPTER 12: Adapting to the Trend. CHAPTER 13: Super Smoothers. CHAPTER 14: Time Warp—Without Space Travel. CHAPTER 15: Evaluating Trading Systems. CHAPTER 16: Leading Indicators. CHAPTER 17: Simplifying Simple Moving Average Computations. Conclusion. For More Information. Notes. Index.

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Book SynopsisA concise explanation of United States tax law's international aspects. This book also contains various useful tools which allow readers to build understanding through practice, as well as formulate and solve the complex problems international taxes can present.Table of ContentsPreface. PART ONE: Generic Topics. CHAPTER 1: Policy and Overview. International Tax Policy. Entity Selection. Generic Topics. Inbound Transactions. Outbound Transactions. Related Person Transactions. CHAPTER 2: Jurisdiction to Tax. Tale of Two Systems. U.S. Jurisdiction. Double Taxation. CHAPTER 3: Income Tax Treaties. Treaty Creation and Authority. Treaty Scope. Personal Service Income. Business Profit. Investment Income. Gain from Dispositions. Special Clauses. CHAPTER 4: Source of Income. Fundamental Importance. General Source Rules. Interest Income. Dividend Income. Personal Service Income. Rent and Royalty Income. Gain from Selling Property. Other Source Rules. CHAPTER 5: Allocation and Apportionment. Allocation to Classes. Apportionment to Groupings. Interest Deductions. Research and Experimental Deductions. Other Deductions. PART TWO: Inbound Transactions. CHAPTER 6: Foreign Persons. Residency Tests. Counting Days. Dual Status Aliens. Important Elections. CHAPTER 7: Nonbusiness Income. Fixed or Determinable, Annual or Periodical Income. Marginal Tax Rates. Nonbusiness Exemptions. Interest Stripping. CHAPTER 8: Business Income. U.S. Trade or Business. Effectively Connected Income. Business Exemptions. Income Tax Calculations. CHAPTER 9: Real Property Gains. U.S. Real Property Interests. U.S. Real Property Holding Corporations. Withholding Procedures. Structures for Holding U.S. Real Estate. CHAPTER 10: Branch Taxes. Branch Profits Tax. Marginal Tax Rates. Branch Interest Tax. PART THREE: Outbound Transactions. CHAPTER 11: Foreign Tax Credit. Creditable Taxes. Deemed Paid Taxes. Limitation Formula. Tax-Sparing Credit. CHAPTER 12: Controlled Foreign Corporations. CFCs and U.S. Shareholders. Subpart F Income. Earnings Invested in U.S. Property. Constructive Dividends. CHAPTER 13: Other Antideferral Provisions. Passive Foreign Investment Companies. Qualified Electing Funds. Foreign Personal Holding Companies. CHAPTER 14: Export Incentives. Extraterritorial Income Exclusion. Domestic International Sales Corporations. CHAPTER 15: U.S. Individuals Abroad. Foreign Earned Income Exclusion. Income Sourced in U.S. Possessions. Social Security Concerns. PART FOUR: Related Person Transactions. CHAPTER 16: Transfer Prices. General Principles. Loan of Funds. Performance of Services. Rental of Tangible Property. Sale or License of Intangible Property. Sale of Tangible Property. Valuation Misstatements. Advance Pricing Agreements. CHAPTER 17: Asset Transfers. Outbound Asset Transfers. Inbound Asset Transfers. External Asset Transfers. Glossary. Table of Statutes. Table of Regulations. Table of Cases. Table of Rulings. Index.

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Book SynopsisMore fortunes are built in real estate on borrowed money than in any other business. And you can build your fortune in real estate using borrowed money too-if you follow the advice and tips in this book. Whether you''re making your first foray into real estate investing or have invested for a number of years, 209 Fast Spare-Time Ways to Build Zero Cash into 7 Figures a Year in Real Estate will show you how to acquire income-producing real estate and build your wealth by using borrowed money. Long-time real estate advisor Tyler Hicks offers proven strategies and real-world examples to illustrate how much MIF-Money in Fist-you can realistically earn by investing in real estate. A valuable guide for new, experienced, or affluent real estate investors, 209 Fast Spare-Time Ways to Build Zero Cash into 7 Figures a Year in Real Estate covers all the bases, from finding loans to hiring an accountant and an attorney to help with the business. Letters from individuals wTable of ContentsINTRODUCTION: How This Book Can Make You Rich on Zero-Cash Borrowed-Money Real Estate xiii CHAPTER 1: Build Your Real Estate Wealth on Other People’s Money 1 Invest in an Item of Lasting Value—Income Real Estate, 3; Recognize the Many Pluses of Real Estate, 3; Build Your Real Estate Riches Minute by Minute, 5; Start-Ups Win in Almost Every Real Estate Deal, 7; Speedy Results Are Possible in Real Estate, 10; Get in on Zooming Worldwide Growth, 12; Good Financing Can Be Yours Even with Bad Credit, 13; Take the Billions Being Offered to Real Estate Investors Today, 14; Forget about a Real Estate License When You’re an Investor, 15; Get into Non-Ownership Income Real Estate, 16; Plenty of Free Advice and Assistance Can Be Yours, 18; Grow Rich with Tax-Sheltered Real Estate Income, 18;Winners Are the Real Estate Norm, 19; Getting Real Estate Funding the Smart Way, 22; Take the First Step to Your Real Estate Wealth, 22; Your Keys to Real Estate Riches, 24 CHAPTER 2: How to Base Your Real Estate Riches on Borrowed Money 25 Know Why Income Real Estate Is So Good for You, 26; Pick the Location for Your Future Properties, 27; Local Properties Are Ideal for Beginners, 27; Figure What Down Payment You’ll Need, 28; Compute Your Needed Starting Cash, 29; Negotiate Your Way to Success, 31; Bootstrap Your Way to Real Estate Ownership, 32; Find Rental Income Assistance Everywhere, 33; Begin Your Income Real Estate Ownership Journey Now, 34; Stay Focused on Your Plan, 36; Manage Your Holdings for Maximum Income, 39; Increase Your Profits from Every Property, 41; Learn All You Can about Your Holdings, 42; Real-Life Examples of Fast Buildup of Ownership Assets, 43; How to Acquire More Residential Income Properties, 46; “Mud Flats” Can Be Money Machines, 46; Expand Your Ownership to Larger Properties, 47; Forget “Advanced Education” for Your Success, 48; Quick Steps to Make Money in Distant Real Estate, 50; Your Keys to Real Estate Riches, 51 CHAPTER 3: Start Your Real Estate Empire Without Using Any of Your Own Cash 53 Defining the Zero-Cash Deal, 53;Who Uses Zero-Cash Deals? 54; Focus on the Down Payment You Need, 54; Use Borrowed Money to Begin Your Empire, 55; Start with a Personal Loan, 56;Where and How Your Personal Loan May Be Made, 57; Secrets to Getting Personal Loans More Easily, 58;Where a Good FICO® Score Will Get You Your Loan, 59; Use a Secured Loan for Your Down Payment, 59; How Lenders React to Solid Collateral, 60; Enhance Your Credit with a Guarantor, 61; Use a Home Equity Loan for Your Down Payment, 62; Get Property Improvement Loans for Your Down Payment, 64; Tap into Your Credit Card Lines of Credit, 65; Get the Seller to Finance Your Down Payment, 67; Use a “Gift Letter” for Family Loans, 68; Never Overlook Possible Partners for Your Down Payment Loans, 70; See if You Can Get Some of Your Down Payment Back on Closing, 71; Your Keys to Real Estate Riches, 72 CHAPTER 4: Bootstrap Your Way to Your Real Estate Cash 75 How to Get in on Good Deals Now, 76; Explore the World of Real Estate Windfalls, 77; How Mortgaging Out Can Work for You, 78; Use Other Rules of Real Estate for Your Mortgaging Out, 79; How to Apply These Powerful, But Simple Rules, 80; Use Every Method You Can to Mortgage Out, 82; The Powerful Methods You Can Use to Mortgage Out, 83; Build Your Mortgaging-Out Wealth Quickly, 84; Know the Other Perks for You from Mortgaging Out, 86; Where and How to Start Getting Mortgaging-Out Cash, 87; Try Your Mortgaging-Out Luck on Multi-Family Buildings, 89; If You Have Time and Experience, Mortgage Out in Development, 90; Your Keys to Real Estate Riches, 92 CHAPTER 5: Use Single-Family Homes for Your Quick Real Estate Start-Up 93 Start with the Possible and Grow Bigger, 93; Know the Numbers of Your Real Estate Opportunities, 94; Now Here Are the Numbers of Your Single-Family Home Wealth, 95;What Types of Single-Family Homes Can Make Me Rich? 97; Now Let’s Get You Started Getting Rich, 98; Detached Single-Family Home Wealth Building, 98; Work the Numbers for Each Property You Acquire, 101; Put Your Numbers to Work, 102; See the Numbers of Your Real Estate Fortune, 104; Cautions for You When Buying Any Single-Family Home, 105; How and Where to Get Single-Family Home Financing, 106; Quick Benefits Offered to You by These Lenders, 107; Your Eight Steps to Quick Single-Family Home Financing, 112; Other Types of Single- Family Home Investments, 114; Your Moneymaking Tips for Single- Family Home Success, 117; Your Keys to Real Estate Riches, 119 CHAPTER 6: Where to Find Money for Your Real Estate Wealth Building 121 Your Money Sources Are Almost Unlimited, 122; Getting the Easiest of All Real Estate Money, 123;Where to Find First Mortgage Lenders, 123; Finding the Second Easiest Real Estate Loan, 124; Have Others Finance Your Income Property Fix-Up, 126; Get Guaranteed Loans for Your Investment Real Estate, 127; Get Grants for Beneficial Real Estate Projects, 128; Apply for and Get Lines of Credit for Your Investments, 130; Private Financing Could Be Your Key to Riches, 131; Get Your Real Estate Money from Public Sources, 132; Raising Real Estate Money from the Public, 133;Work with Investor Groups for Your Financing, 136; How to Raise Real Estate Money from Limited Partnerships, 137; Use 100 Percent Financing Funders to Get Your Multi-Unit Money, 137; Lenders That Fund Multi-Unit Real Estate Projects, 139; Your Keys to Real Estate Riches, 144 CHAPTER 7: Creative Financing of Your Real Estate Fortune 145 Quick Proof That Creative Financing Really Works, 145; Seven Reasons Why You May Need Financial Help, 146; How to Overcome Financial Problems, 148; Get Income Property with an Option, 149; Buy Properties Having Assumable Mortgages, 150; Assumable Mortgage Possibilities for You, 153; Find Zero Percent Down and 100 Percent Lenders, 154; Use a Lease Option Contract to Control Property, 154; Use Credit Card Lines of Credit, 156; Flip Real Estate with Creative Financing, 157; How to Start and Be Successful in Flipping Properties, 158; Take Lenders Out of Foreclosure Properties, 159; How to Be a Hero with Lenders, 159;Work with the FDIC and VA to Flip Properties, 160; Get Section 8 Tenants for Steady Rental Income, 161; Buy and Control Properties in Inner-City Areas, 162; Search for Low, Low Down Payments, 164; Borrow to the Hilt for Income Real Estate, 165; Use Home Equity and Personal Loans to Build Your Wealth, 166; Mortgage Out to Get Paid for Creative Financing, 167; Other Ways to Creative Financing, 169; Your Keys to Real Estate Riches, 169 CHAPTER 8: Find and Use Unique and Unusual Funding Sources 171 Sure Steps to Finding Your Suitable Lenders, 171; Pick the Type of Real Estate You Want to Own, 172; Find the Unique Lender for Your Kind of Real Estate, 173; How to Find Unique Lenders for Land Deals, 173; Search for Unique Residential Lenders, 174; Start Small in Commercial Properties, 176; Know the Range of Commercial Properties, 176;Wait Before Investing in Industrial Properties, 183; Unique Funding You Can Do Yourself, 183; Two Quick Unique Ways to Raise Money Yourself, 183; Use a Limited Partnership to Raise the Money You Need, 183; Six Steps to Setting Up Your Limited Partnership, 184; Try a Real Estate Investment Trust to Raise Your Money, 185; Your Keys to Real Estate Riches, 188 CHAPTER 9: Use Sellers Having Built-In Funding for Your Deals 189 Eight Real Estate Deals with Financing in Place, 189; Government Foreclosures Often Come with Financing, 190; Do Internet Searches for Your Properties, 192; Don’t Overlook New Property Financing, 193; Take Advantage of “Financing Available” Offers, 195; Look for and Find Zero-Down Properties, 196; Look for and Buy FSBO Properties, 198; Private Lenders Could Be Your Money Source, 199; Look for the Unusual Offer, 200; Don’t Let Built-In Funding Pass You By, 202; Your Keys to Real Estate Riches, 203 CHAPTER 10: Count Your Way to Your Real Estate Wealth 205 Know the Numbers You Must Know, 205; Positive Cash Flow, 206; Monthly Debt Service, 208; Figuring Your Monthly Debt Service Cost, 210; Now Do the Simple Numbers, 211; Know What Your Debt Coverage Is, 212; Quickly Figure Your Capitalization Rate, 213; Now Put Your Numbers to Work, 213; Your Keys to Real Estate Riches, 214 CHAPTER 11: Turn Your Real Estate Holdings into Your Private Bank 215 Use Your Real Estate Equity to Build Wealth, 215; Tapping Your Equity for Profit or Fun, 216; Taking Steps to Repay Your Loan Quickly, 218; How Much Can I Borrow on My Equity? 219; How Is the Value of Your Equity Figured? 220; How to Increase the Value of Your Equity, 221; Use Your Increased Equity to Build Your Wealth, 222; How to Get around “Seasoning” Requirements, 224; Build Your Own “Bank” with Your Properties, 225; Your Keys to Real Estate Riches, 226 CHAPTER 12: Save Time and Build Your Real Estate Fortune Faster 229 Learn the Fast Track to Real Estate Wealth, 229; Flip Real Estate for a Quick Profit, 230; Sublet Properties for Non-Ownership Profits, 231; Use Options to Control Real Estate, 232; Be a Real Estate Loan Finder, 233; Build Self-Storage Wealth Today, 235; Build Big Profits in Off-Campus Housing, 236; Use “Liquid” Real Estate for Your Wealth Building, 239; Be a Loan Correspondent for a Real Estate Lender, 241; Get Loans and Grants from Little-Known Sources, 243; Make an Excellent Income Upgrading Older Rental Units, 244 Finance Your Real Estate Down Payments at 0 Percent Interest, 246; Your Real Estate Wealth Schedule, 247; Best Rules for Your Success in Income Real Estate, 253 Useful Real Estate Books, Reports, Training Courses, and Newsletters for Beginning and Experienced Wealth Builders 255 Real Estate Investment and Management Books, 255; Real Estate Self-Study Success Kits, Books, Reports, and Newsletters, 256 Index 265

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Book Synopsis Whether preparing for a career in real estate or seeking to better understand the real estate decisions that they may face in their personal lives, Core Concepts of Real Estate Principles and Practices provides students with a clear understanding of current theories and practices. Larsen balances practical information with academic rigor to provide a comprehensive introduction to the field, including those factors faced by every person contemplating the acquisition, leasing, financing, use, or disposition of real estate. Larsen introduces the real estate transaction in the first 3 chapters to get the student interested and then organizes the chapters around the steps in the real estate process, which is unique. As part of the Core Concepts Series, Core Concepts of Real Estate Principles and Practices can be adopted with Business Extra Select (www.wiley.com/college/bxs), a simple, seamless, online custom publishing process that allows instructorsTable of ContentsPART I. AN INTRODUCTION TO REAL ESTATE. Chapter 1. Real Estate Markets. Chapter 2. Real Estate Services. Chapter 3. Home Ownership. PART II. REAL ESTATE OWNERSHIP AND THE LAW . Chapter 4. Interests in Real Estate. Chapter 5. Forms of Real Property Ownership. Chapter 6. Limitations on Ownership. Chapter 7. Income Taxes. Chapter 8. Legal Descriptions. PART III. REAL ESTATE TRANSACTIONS. Chapter 9. Real Estate Agency and Brokerage. Chapter 10. Real Estate Appraisal. Chapter 11. Real Estate Contracts. Chapter 12. Deeds. Chapter 13. Preparation for the Real Estate Closing. Chapter 14. Closing the Real Estate Transaction. PART IV. REAL ESTATE FINANCING. Chapter 15. Mortgages and Deeds of Trust. Chapter 16. Financing Real Estate Transactions. Chapter 17. Mortgage Calculations. PART V. REAL ESTATE DEVELOPMENT AND INVESTMENT. Chapter 18. Property Management and Leasing. Chapter 19. Property Insurance. Chapter 20. Property Development and Market Analysis. Chapter 21. Investment Analysis. Appendix. Glossary. Index.

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Book Synopsis"The biotech industry is a complex, rapidly evolving, and critical industry. The industry holds great commercial and societal promise, but it is also filled with hype, confusion, and risks.Table of ContentsPreface xi Acknowledgments xvii CHAPTER 1 Overview 1 CHAPTER 2 Pharmaceuticals 43 CHAPTER 3 Medicine and Agriculture 77 CHAPTER 4 Computing, Biomaterials, and the Military 105 CHAPTER 5 Infrastructure 142 CHAPTER 6 Financing 175 CHAPTER 7 Regional Analysis 217 CHAPTER 8 Outlook 295 Appendix 319 Glossary 329 Sources and Further Reading 337 Index 347

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Book SynopsisCore Concepts of Financial Analysis has a user focus (not a preparer focus), based on a formal six-step process for analysis and decision-making. Giroux uses an external focus, with particular emphasis on credit and equity investment decisions. The book is relatively short, but fairly comprehensive covering financial statements, accounting information, stock market information, economic and industry information, and other sources for recommendations and decisions. It assumes that students have a reasonable understanding of basic accounting and finance principles and attempts to expand from these to structure financial analysis for specific recommendations or decisions. The book is designed primarily for senior-level finance and accounting students, soon to be off to start financial analysis-related professions. As part of the Core Concepts Series, Core Concepts of Financial Analysis can be adopted with Business Extra Select (www.wiley.com/college/bxTable of ContentsPreface. About the Authors. Chapter 1. What Is Financial Analysis? Chapter 2. The Financial Environment. Chapter 3. The Financial Statements. Chapter 4. Quantitative Financial Analysis Using Financial Statement Information. Chapter 5. Multiperiod Quantitative Financial Analysis. Chapter 6. Quantitative Financial Analysis Techniques: Incorporating Market Information. Chapter 7. An Accounting Analysis Perspective. Chapter 8. Accounting Analysis: Specific Issues 1. Chapter 9. Accounting Analysis: Specific Issues 2. Chapter 10. Business Combinations. Chapter 11. Capital Structure and Credit Risk. Chapter 12. Credit Analysis. Chapter 13. Equity Investment Analysis. Appendices Glossary. Bibliography. Business Index. Subject Index.

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Book SynopsisEfficient market theorists contend that markets are random and thus not predictable. With the publication of Trading Against theCrowd, however, noted author, economist, and professional trader John Summa convincingly shows that investor sentiment can be incorporated into profitable stock and stock market trading systems. In this groundbreaking book, Summa explains how to use popular gauges of crowd psychology, such as put/call ratios, option-implied volatility, short sales, investor surveys, and advisory opinion to trade against, or contrary to, prevailing market sentiment. He also makes compelling arguments against the efficient markets hypothesis with the presentation of his own quantitative weekly bear and bull news-flow intensity indices, which he builds from news scans. This data series, and other popular measures of crowd psychology, are processed through custom indicators that are programmed into profitable trading systems, such as Squeeze Play I & II, Tsunami Sentiment WTable of ContentsPreface. Introduction. Chapter 1. Reflections of a Contrarian on Investor Psychology. Chapter 2. Measuring "Joe Option Trader" Sentiment. Chapter 3. Will the Real Put/Call Ratio Please Stand Up? Chapter 4. The Option Trading Crowd at Extremes. Chapter 5. Does the Entire Group of Option Traders Get it Wrong? Chapter 6. OEX Option Traders—Is This a Smart Money Crowd? Chapter 7. From Statistical Tests to Sentiment Trading System. Chapter 8. Squeeze Play I: Pulling the Price Trigger. Chapter 9. Sentiment Squeeze Play II. Chapter 10. Squeeze Play II and LEAPS Surrogates. Chapter 11. The Tsunami Sentiment Wave Trading System. Chapter 12. Adapting Put/Call Ratios to Bond Futures. Chapter 13. Option Implied Volatility and Investor Sentiment. Chapter 14. Testing Option Volatility on Equity Indices. Chapter 15. Stock Options Volatility and Sentiment Long Waves. Chapter 16. Gauging Crowd Psychology with Short Selling Ratios. Chapter 17. Public Shorts: Still As Good As Ever as Crowd "Sentimeter". Chapter 18. Trading Against the Advisory Opinion Crowd. Chapter 19. The Fourth Estate Crowd. Chapter 20. Postscript on Crowd Psychology in Financial Markets. Appendix A: MetaStock Formula Language Code. Appendix B: TradeStation EasyLanguage® Code. Appendix C: Notes on System Testing. Index.

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Book SynopsisA valuable reference for understanding operational risk Operational Risk with Excel and VBA is a practical guide that only discusses statistical methods that have been shown to work in an operational risk management context. It brings together a wide variety of statistical methods and models that have proven their worth, and contains a concise treatment of the topic. This book provides readers with clear explanations, relevant information, and comprehensive examples of statistical methods for operational risk management in the real world. Nigel Da Costa Lewis (Stamford, CT) is president and CEO of StatMetrics, a quantitative research boutique. He received his PhD from Cambridge University.Table of ContentsPreface. Acknowledgments. CHAPTER 1: Introduction to Operational Risk Management and Modeling. What is Operational Risk? The Regulatory Environment. Why a Statistical Approach to Operational Risk Management? Summary. Review Questions. Further Reading. CHAPTER 2: Random Variables, Risk indicators, and Probability. Random Variables and Operational Risk Indicators. Types of Random Variable. Probability. Frequency and Subjective Probability. Probability Functions. Case Studies. Case Study 2.1: Downtown Investment Bank. Case Study 2.2: Mr. Mondey’s OPVaR. Case Study 2.3: Risk in Software Development. Useful Excel Functions. Summary. Review Questions. Further Reading. CHAPTER 3: Expectation, Covariance, Variance, and Correlation. Expected Value of a RandomVariable. Variance and Standard Deviation. Covariance and Correlation. Some Rules for Correlation, Variance, and Covariance. Case Studies. Case Study 3.1: Expected Time to Complete a Complex Transaction. Case Study 3.2: Operational Cost of System Down Time. Summary. Review Questions. Further Reading. CHAPTER 4: Modeling Central Tendency and Variability of Operational Risk Indicators. Empirical Measures of Central Tendency. Measures of Variability. Case Studies. Case Study 4.1: Approximating Business Risk. Excel Functions. Summary. Review Questions. Further Reading. CHAPTER 5: Measuring Skew and Fat Tails of Operational Risk Indicators. Measuring Skew. Measuring Fat Tails. Review of Excel and VBA Functions for Skew and Fat Tails. Summary. Review Questions. Further Reading. CHAPTER 6: Statistical Testing of Operational Risk Parameters. Objective and Language of Statistical Hypothesis Testing. Steps Involved In Conducting a Hypothesis Test. Confidence Intervals. Case Study 6.1: Stephan’s Mistake. Excel Functions for Hypothesis Testing. Summary. Review Questions. Further Reading. CHAPTER 7: Severity of Loss Probability Models. Normal Distribution. Estimation of Parameters. Beta Distribution. Erlang Distribution. Exponential Distribution. Gamma Distribution. Lognormal Distribution. Pareto Distribution. Weibull Distribution. Other Probability Distributions. What Distribution Best Fits My Severity of Loss Data? Case Study 7.1: Modeling Severity of Loss Legal Liability Losses. Summary. Review Questions. Further Reading. CHAPTER 8: Frequency of Loss Probability Models. Popular Frequency of Loss Probability Models. Other Frequency of Loss Distributions. Chi-Squared Goodness of Fit Test. Case Study 8.1: Key Personnel Risk. Summary. Review Questions. Further Reading. CHAPTER 9: Modeling Aggregate Loss Distributions. Aggregating Severity of Loss and Frequency of Loss Distributions. Calculating OpVaR. Coherent Risk Measures. Summary. Review Questions. Further Reading. CHAPTER 10: The Law of Significant Digits and Fraud Risk Identification. The Law of Significant Digits. Benford’s Law in Finance. Case Study 10.1: Analysis of Trader’s Profit and Loss Using Benford’s Law. A Step Towards Better Statistical Methods of Fraud Detection. Summary. Review Questions. Further Reading. CHAPTER 11: Correlation and Dependence. Measuring Correlation. Dependence. Stochastic Dependence. Summary. Review Questions. Further Reading. CHAPTER 12: Linear Regression in Operational Risk Management. The Simple Linear Regression Model. Multiple Regression. Prediction. Polynomial and Other Types of Regression. Multivariate Multiple Regression. Regime-Switching Regression. The Difference Between Correlation and Regression. A Strategy for Regression Model Building in Operational Risk Management. Summary. Review Questions. Further Reading. CHAPTER 13: Logistic Regression in Operational Risk Management. Binary Logistic Regression. Bivariate Logistic Regression. Case Study 13.1: Nostro Breaks and Volume in a Bivariate Logistic Regression. Other Approaches for Modeling Bivariate Binary Endpoints. Summary. Review Questions. Further Reading. CHAPTER 14: Mixed Dependent Variable Modeling. A Model for Mixed Dependent Variables. Working Assumption of Independence. Understanding the Benefits of Using a WAI. Case Study 14.1: Modeling Failure in Compliance. Summary. Review Questions. Further Reading. CHAPTER 15: Validating Operational Risk Proxies Using Surrogate Endpoints. The Need for Surrogate Endpoints in OR Modeling. The Prentice Criterion. Limitations of the Prentice Criterion. The Real Value Added of Using Surrogate Variables. Validation Via the Proportion Explained. Limitations of Surrogate Modelling in Operational Risk Management. Case Study 15.1: Legal Experience as a Surrogate Endpoint for Legal Costs for a Business Unit. Summary. Review Questions. Further Reading. CHAPTER 16: Introduction to Extreme Value Theory. Fisher-Tippet–Gnedenko Theorem. Method of Block Maxima. Peaks over Threshold Modeling. Summary. Review Questions. Further Reading. CHAPTER 17: Managing Operational Risk with Bayesian Belief Networks. What is a Bayesian Belief Network? Case Study 17.1: A BBN Model for Software Product Risk. Creating a BBN-Based Simulation. Assessing the Impact of Different Managerial Strategies. Perceived Benefits of Bayesian Belief Network Modeling. Common Myths About BBNs—The Truth for Operational Risk Management. Summary. Review Questions. Further Reading. CHAPTER 18: Epilogue. Winning the Operational Risk Argument. Final Tips on Applied Operational Risk Modeling. Further Reading. Appendix. Statistical Tables. Cumulative Distribution Function of the Standard Normal Distribution. Chi-Squared Distribution. Student’s t Distribution. F Distribution. Notes. Bibliography. About the CD-ROM. Index.

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Book SynopsisThe Enron story is one that will reverberate in global financial and energy markets and in criminal and civil courts for years to come. This is the 21st century version of the Keating scandal; this decade's LTCM. Investigative journalist Loren Fox provides the most compelling and insightful read into Enron's fall from grace.Trade Review"...Fox fills the void left by Lay and other Enron top dogs in swift, building-block fashion, producing a ground-up view of why the "Crooked E" colossus rose and fell. A sober and clear-eyed book, it's the more restrained of the two [compared to Pipe Dreams]. But it's not too restrained to pass up the chance to get in some good snarkfests over Enron's outsized egos and swagger—or remind us that its swagger is what most investors bought.... Fox places the unspooling of Enron in its market-history context, and his book has gravitas...."—Barron's "...Fox is a business writer based in New York who digs into how Andrew S. Fastow, Enron's former chief financial officer, set up special purpose entities that ultimately helped cause the company's downfall. Of the three books [including and Anatomy of Greed], this one offers the most detaile d explanation of Enron as a business."—New York Times "Enron: The Rise and Fall is the latest and perhaps most impressive of the recent crop of books about the collapsed energy giant . . . [Fox’s] candid, in-depth examination of Enron’s remarkable evolution, corporate culture and ultimate downfall is in itself remarkable for being both scrupulously detailed while remaining a clear and enjoyable read, even when dealing with the Byzantine complexities of the company’s financial engineering."—ERisk.com "Book of the Month" review "...a gripping read with plenty of lessons for companies that do not want to become victims of their own success..."—Lloyds List "AFTER the fall come the books. And nothing recently in the corporate world has fallen quite so spectacularly as Enron, the Houston-based oil-and-gas company that flew so high it made Icarus look like a grasshopper. Enron scorched to earth in December 2001 when it was forced to seek protection from its creditors under Chapter 11 of America's bankruptcy code. Thousands of employees lost their jobs and their pensions (largely invested in worthless Enron stock) while the designers and polishers of its wings of wax walked away with tens of millions of dollars each. Not a pretty tale. Of the many tellings of it, these are currently the two most popular. In the absence of any input from the leading characters--the chairman and founder Kenneth Lay, the chief executive Jeffrey Skilling and the chief financial officer Andrew Fastow, all of whom are keeping mum in view of pending lawsuits--authors must tackle their subject somewhat indirectly. These two take rather different routes. Robert Bryce is a Texan journalist with a feel for the place and climate of his subject. He brushes past the (not inconsiderable) technical complexities of Mr Fastow's off-balance-sheet schemes and heads straight for the personalities. This is not "Dallas", but it's not far off. It's dead flat, air-conditioned Houston, where the town's big rich (and they don't get much bigger) live in River Oaks, a district whose architecture was once described as "Ralph Lauren meets Scarlett O'Hara". Enron's top executives all made it to River Oaks, and Mr Bryce obligingly provides us with a map to show where they are. As he describes them, they are almost unremittingly awful. One of them that he met "reminded me that being a Texas-sized sphincter was valued at Enron". After a while, though, his litany of their adultery and greed seems unbalanced. Surely there were some redeeming features? Surely the whistle-blowing accountant, Sherron Watkins, was not merely seeking to further her own career when she exposed Mr Fastow's accounting tricks? And what about J. Clifford Baxter, the Enron vice-chairman who shot himself a year ago leaving a suicide note for his wife in which he said: "I have always tried to do the right thing, but where there was once great pride now it's gone...please try to forgive me." Mr Bryce leaves no room for atonement. Loren Fox is a business writer who does not shy away from the complexities of Enron's business and financial dealings. On occasions, though, their details hold up the flow of his story. Especially before he gets really rolling with a perceptive chapter called "Culture of Creativity?" Here he describes the change in Enron's corporate culture, wrought largely by Mr Skilling who once said that he wanted his "best people to wake up at three o'clock in the morning in a cold sweat". And not because they'd left the air-conditioning on. There is a peek into Enron's notorious twice-yearly Performance Review Committee meetings. Known as rank and yank, they consisted of a group of senior managers getting together in a hotel for a week or so, ranking employees according to various criteria, and then sacking the bottom 10-20% of them. But don't worry. The moral of the story is, it didn't work. On one critical event in the Enron story both books agree. If there was a no-turning-back moment for the company it was the resignation in 1996 of the chief operating officer, Richard Kinder (pronounced "Kinnder" and referred to in one book as Rick and in the other as Rich, suggesting he has not talked to either author). Mr Kinder had been the hands-on counterbalance to Kenneth Lay's networking with the rich and powerful (President George W. Bush called him "Kenny Boy"). Mr Kinder kept a keen eye on the cashflow and frowned on extravagance. But he was replaced by Mr Skilling, whose eyes, as we now know, were elsewhere."—The Economist, January 11, 2003 U.S. Edition "...this one impresses by its sheer mass and wealth of detail..."—Mortgage Finance Gazette "…struck the right balance and given us a book, which is both entertaining and highly informative…"—AccountingWeb "…overall an excellent introduction to the Enron saga…"—Global TurnaroundTable of ContentsPreface. Time Line. 1. Pipeline to Profit. 2. Where the Money Is. 3. Major Ambition. 4. Electrifying Opportunity. 5. Culture of Creativity? 6. The Energy Buffet. 7. Taking the Plunge. 8. Enron Gets Wired. 9. Power and Glory. 10. California Dreamin’. 11. Power Overload. 12. Downward Spiral. 13. Racing the Clock. 14. Endgame. Epilogue. Author’s Note. Notes. Index.

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Book SynopsisThe co-founder of EVA shows how to apply it in today's new economy EVA-economic valued added-is a measure of the true financial performance of a company, and a strategy for creating corporate and shareholder wealth. It is also a method of changing corporate priorities and behavior throughout a company, right down to the "shop floor.Table of Contents1. The Problem. 2. The Solution. 3. The Need for a Winning Strategy and Organization. 4. The Road Map to Value Creation. 5. The Changes Wrought by EVA. 6. Extendinge EVA to the Shop Floor. 7. Getting the Message Out: Training and Communications. 8. EVA and Acquisitions. 9. EVA Incentives. 10. How EVA Can Fail. 11. New Frontiers: Real Options and Forward-Looking EVA. 12. 25 Questions. 13. Recipe for Success. Epilogue: EVA and the "New Economy," by Gregory V. Milano. Acknowledgments. Index.

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Book SynopsisTraces the rich, colourful history of the futures market on its quest for respectability and profit. This revealing account describes why this market has been grabbing headlines for over 100 years as both respectable economic institutions and hotbeds of gambling activity and scandal.Table of ContentsAcknowledgments vi Introduction vii Chapter 1 A Tale of the Pits 1 Chapter 2 Futures and 'Wild Jackasses' 49 Chapter 3 The Great Bear Hunt 99 Chapter 4 Expanding the Menu 143 Chapter 5 Metals and Money 187 Chapter 6 Chicago Follies 243 Chapter 7 Rogues' Gallery 297 Postscript 353 Bibliography 355 Index 360

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Book SynopsisSarbanes-Oxley and the New Internal Auditing Rules thoroughly and clearly explains the Sarbanes-Oxley Act, how it impacts auditors, and how internal auditing can help with its requirements, such as launching an ethics and whistle-blower program or performing effective internal controls reviews under the COSO framework.Table of ContentsPreface xi Chapter 1 Introduction 1 Accounting and Auditing Scandals and Internal Audit 1 What are the New Rules? 3 Who will Find this Book Useful? 7 Chapter 2 Internal Audit and the Sarbanes-Oxley Act 9 “Where were the Auditors?” Standards Failure 10 Sarbanes-Oxley Overview: Key Internal Audit Concerns 12 Impact of the Sarbanes-Oxley Act on the Modern 57 Internal Auditor Chapter 3 Heightened Responsibilities for Audit Committees 59 Audit Committee Charters and Other Requirements 60 Board’s “Financial Expert” and Internal Audit 64 Helping to Establish Documentation Procedures 67 Controlling Other Audit Services 69 Establishing Open Communications 70 Chapter 4 Launching an Ethics and Whistleblower Program 71 Launching an Organization Ethics Program 72 Establishing a Mission or Values Statement 79 Codes of Conduct 81 Whistleblower and Hotline Functions 89 Auditing the Organization’s Ethics Functions 99 Chapter 5 COSO, Section 404, and Control Self-Assessments 103 SOA Section 404 104 COSO Internal Control Framework 123 Violation Penalties: Organizational Sentencing Guidelines 146 Control Self-Assessments 155 Chapter 6 IIA, CobiT, and Other Professional Internal Audit Standards 165 Institute of Internal Auditors Standards for Professional Practice 165 CobiT and Information Technology Governance 175 ASQ Audit Standards: A Different Approach 183 Chapter 7 Disaster Recovery and Continuity Planning after 9/11 189 Business Continuity Planning and the New Language of Recovery Planning 190 Continuity Planning and Service-Level Agreements 194 New Technologies: Critical Data Mirroring Techniques 195 Establishing Effective Contingency Policies: What are we Protecting? 197 Building the Disaster Planning Business Continuity Plan 198 Testing, Maintaining, and Auditing the Continuity Plan 206 Continuity Planning Going Forward 211 Chapter 8 Internal Audit Fraud Detection and Prevention 213 Red Flags: Fraud Detection for Auditors 214 Public Accounting’s New Role in Fraud Detection 220 IIA Standards for Detecting and Investigating Fraud 223 Fraud Investigations for Internal Auditors 225 Information Systems Fraud Prevention Processes 226 Chapter 9 Enterprise Risk Management, Privacy, and Other Legislative Initiatives 231 Enterprise Risk Management 231 Concurrent with SOA: Other Legislation Impacting Internal Auditors 243 Chapter 10 Rules and Procedures for Internal Auditors Worldwide 257 SOA International Requirements 258 International Accounting and Auditing Standards 259 COSO Worldwide: International Internal Control Frameworks 267 ISO and the Standards Registration Process 272 ITIL Service Support and Service Delivery Best Practices 279 Chapter 11 Continuous Assurance Auditing Future Directions 293 Implementing Continuous Assurance Auditing 294 Internet-Based Extensible Mark-Up Languages: XBRL 302 Data Warehouses, Data Mining, and OLAP 306 Newer Technologies, the Continuous Close, and SOA 311 Chapter 12 Summary: Internal Auditing Going Forward 313 Future Prospects for Internal Auditors 313 Glossary 317 Index 321

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Book SynopsisFast technological advances have allowed investors and traders to make increasingly sophisticated analysis of market momentum. The current trend in the financial world continues towards momentum analysis. This book looks at both the theory and the application.Table of ContentsTHEORY. Introduction. Momentum Preliminaries. Indicator Creation. Indicator Selection. Indicator Combination. System Maintenance. Risk Management. Summary. APPLICATION. Spreadsheet Preliminaries. How to Apply Indicator Creation. How to Apply Indicator Selection. How to Apply Indicator Combination. Performance and Maintenance. Appendix 1: Excel Functions. Appendix 2: Indicator Variations. Glossary. Index.

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Book SynopsisOver the past decade there has been a great escalation in thesophistication of the financial markets and technology and as a result many newderivatives products have been developed. Structured Products offers practical details on the mainstructured products developed over the last ten years. The booklooks in detail at the risks, valuation and key elements of eachstructured product in turn. It explains the basic principles andunderlying philosophies behind the concept giving investors athrough understanding of each product in a conceptual and practicalway.Table of ContentsForeword General introduction PART I BASIC ASPECTS OF STRUCTURED PRODUCTS Structured products Instrument valuation and risk measurement PART II EQUITY STRUCTURES Warrants Equity deposit Asian deposit Straddle with knockout deposit Digital ranges Reverse convertible Ladder bond Basket bond Spread bond Best-of bond PART III FIXED INCOME STRUCTURES Floating rate note Reverse floating rate note Collared floating rate note Digital ranges (corridor notes) Step-up callable Reset note Participating swap Performance swap Step-up triggered cap Constant maturity bond Appendix A: Ten golden rules. Appendix B: Characters from the buyer's viewpoint Bibliography Index

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

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Book SynopsisWhat really influences the way stock markets behave? David Cohen argues that far from being influenced by logical, rational considerations, stock markets are driven by deep-seated emotions such as fear, greed, panic and the herd instinct. Includes a glossary of psychological and investment terms.Trade Review"..thought-provoking.." (Moneywise February 2002)Table of ContentsAbout the Author. Introduction. A Thousand Ways of Losing Your Pants. The Psychology of Money and Profit. The Logical Blues or How we Learn to Hate Informaiton. Inside the Markets - The Analysts. The Psychology of Risk and Risk Takers. Going for Broke - The Secret Art of Broking. Inside the Markets - Dealers and Traders. Psychology and the Great Gurus of Investment. Case Histories. Faith, Fraud and Financial IQ. Glossary. References. Index.

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Book SynopsisThe workings of the City are often shrouded in mystery. This book is a highly practical introduction to the principles of bonds and fixed income for those with little or no previous experience.Table of ContentsPreface xiii Acknowledgements xv Part 1: A Beginner's Toolkit 1 1 Money markets 3 What is money? 3 Why there is a money market? 4 Choosing a maturity 6 Repo 7 Central-bank money-market operations 9 Two money markets 10 The euro 12 Writing money 13 Settlement details 15 Summary 16 2 Government bonds 17 Introduction 17 The concept of yield 18 Example yield calculations 19 Coupon and yield 22 The yield curve 23 Primary dealers 24 Government bond markets 24 Repo as part of the government-bond market 26 Accrued interest 27 Strips 27 Other tradable government debt 29 Non-government debt 31 Rating agencies 32 Summary 33 3 Futures 35 The gold miner's problem 35 The gold miner's solution 36 Contract specification 37 Credit and margin 38 Cash settlement 39 Cash-settling other contracts 40 The fixings 41 The 3-month interest rate future 43 Price action 44 The strip and TED spreads 46 Arbitrage 47 Some trading jargon 48 Summary 50 4 Swaps 51 Introduction 51 An example 53 Asset swaps 55 A typical swap in detail 56 Credit risk in swaps 58 Trading jargon 59 Swaps and interest rate futures 60 Myth and reality 61 Summary 62 5 Options 63 Introduction 63 Puts and calls 63 What is the option worth? 65 Combinations 66 Underlyings 66 Embedded options 67 Implied volatility 68 Summary 69 6 Foreign exchange 71 The basic rationale 71 Size and conventions 72 Forwards 72 Shake the dice 73 Summary 75 7 Players 77 Governments 77 Pseudo-government issuers 78 Non-Financial corporations 79 Pension funds 79 Insurers 81 Mutual funds 82 Hedge funds 83 Commercial banks 83 Mortgage lenders 85 Central banks 86 Private investors 87 Summary 87 8 People 89 Introduction 89 Proprietary traders 89 Market makers 91 Brokers 92 Salespeople 93 Researchers 94 Back office and middle office 94 Investment bankers 94 Summary 95 9 Price action 97 Why do prices move? 97 Necessity never made a good bargain 99 Stability and leverage 100 Fixed-income prices 101 A stylised crash in fixed income 103 Forwards, zeros and par yields 104 Trading the crash 108 Market irrationality 109 Summary 110 Part 2: More detail 111 10 Swaps revisited 113 Introduction 113 Credit risk in swaps 113 Reducing the credit risk 114 Cross-currency basis swaps 116 The price of a basis swap 117 A cross-currency issue 118 Reducing credit risk in basis swaps 121 Forward rate agreements 122 Summary 122 11 Non-government issuance 125 Introduction 125 Bringing a deal to market 126 The syndicate 128 Book-building: taking orders 129 Pricing a swapped deal 130 Pricing an unswapped deal 131 Some legal details 132 Free to trade 134 An example issue 135 Opportunistic reopenings 136 Summary 137 12 Yield, duration, repo and forward bond prices 139 Measuring risk 139 Yields: compounding frequencies 140 Duration continued 142 Definition of DV 01 144 How coupon affects duration and DV 01 144 An example yield curve 145 A 3s10s flattener 147 A flattener generates cash 148 A forward flattener 148 What happens if nothing happens? 149 Weighting the forward flattener 150 A barbell 151 Carry and slide 152 Summary 153 13 Bond futures 155 Introduction 155 Specification 156 Delivery day 157 The delivery process 158 Cheapest to deliver: at par 159 Cheapest to deliver: far from par 160 CTD calculations before delivery 161 Delivery tail 162 Summary 163 14 Basic fixed-income arithmetic 165 The proportion of a year 165 Yield to price and price to yield 167 Semi to annual: halve and square 167 Forward yield 168 Forward asset swap 168 Summary 168 Index 169

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Book SynopsisA complete explanation of the issues that determine private firm value Principles of Private Firm Valuation combines recent academic research and practical real-world experience to help readers better understand the multitude of factors that determine private firm value.Table of ContentsPreface. CHAPTER 1: The Value of Fair Market Value. CHAPTER 2: Creating and Measuring the Value of Private Firms. CHAPTER 3: The Restructuring of Frier Manufacturing. CHAPTER 4: Valuation Models and Metrics: Discounted Free Cash Flow and the Method of Multiples. CHAPTER 5: Estimating the Cost of Capital. CHAPTER 6: The Value of Liquidity: Estimating the Size of the Liquidity Discount. CHAPTER 7: Estimating the Value of Control. CHAPTER 8: Taxes and Firm Value. CHAPTER 9: Valuation and Financial Reports: The Case of Measuring Goodwill Impairment. Notes. Index.

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