Finance and accounting Books
John Wiley & Sons Inc Getting Started in Real Estate Investment Trusts
Book SynopsisEverything you need to know about REITs. Getting started in real estate investment trusts. Real Estate Investment Trusts (REITs) offer small investors the chance to participate in a broad range of real estate opportunities across most major property sectors and geographic locations.Table of ContentsPreface. Acknowledgments. PART 1: Getting Started in REITs. Chapter 1: Real Estate as an Asset Class. Chapter 2: The History of Real Estate Investment Trusts. Chapter 3: REITs as an Asset Class. Chapter 4: REITs as a Portfolio Diversification Tool. Chapter 5: Integrating REITs into an Investment Portfolio. PART 2: Real Estate Economics and Analysis. Chapter 6: Real Estate Market Characteristics. Chapter 7: Real Estate Development. Chapter 8: Partnerships and Joint Ventures. Chapter 9: Analyzing REITs. Chapter 10: Advanced Financial REIT Topics. PART 3: Public Real Estate Sectors. Chapter 11: Residential REITs. Chapter 12: Manufactured Home Community REITs. Chapter 13: Office REITs. Chapter 14: Industrial REITs. Chapter 15: Retail Property REITs. Chapter 16: Hotel REITs. Chapter 17: Health Care Properties. Chapter 18: Self-Storage REITs. Chapter 19: Other REIT Sectors. Appendix A: Real Estate Mutual Funds. Appendix B: Real Estate Investment Trusts. Glossary. Index.
£18.69
John Wiley & Sons Inc Equity Hybrid Derivatives
Book SynopsisPraise for Equity Hybrid Derivatives Hybrids represent the fastest growing segment in the derivatives business. Written by perhaps the finest quant shop in the world, this book presents the state of the art in modeling equity hybrid derivatives. --Peter Carr, PhD, Head of Quantitative Financial Research Bloomberg L.P.Table of ContentsPreface. PART ONE: Modeling Volatility. CHAPTER 1: Theory. 1.1 Concepts of Equity Modeling. 1.1.1 The Forward. 1.1.2 The Shape of Dividends to Come. 1.1.3 European Options on the Pure Stock Process. 1.2 Implied Volatility. 1.2.1 Sticky Volatilities. 1.3 Fitting the Market. 1.3.1 Arbitrage-Free Option Price Surfaces. 1.3.2 Implied Local Volatility. 1.3.3 European Payoffs. 1.3.4 Fitting the Market with Discrete Martingales. 1.4 Theory of Replication. 1.4.1 Replication in Diffusion-Driven Markets. CHAPTER 2: Applications. 2.1 Classic Equity Models. 2.1.1 Heston. 2.1.2 SABR. 2.1.3 Scott’s Exponential Ornstein-Uhlenbeck Model. 2.1.4 Other Stochastic Volatility Models. 2.1.5 Extensions of Heston’s Model. 2.1.6 Cliquets. 2.1.7 Forward-Skew Propagation. 2.2 Variance Swaps, Entropy Swaps, Gamma Swaps. 2.2.1 Variance Swaps. 2.2.2 Entropy Swaps. 2.2.3 Gamma Swaps. 2.3 Variance Swap Market Models. 2.3.1 Finite Dimensional Parametrizations. 2.3.2 Examples. 2.3.3 Fitting to the Market. PART TWO: Equity Interest Rate Hybrids. CHAPTER 3: Short-Rate Models. 3.1 Introduction. 3.2 Ornstein-Uhlenbeck Models. 3.3 Calibrating to the Yield Curve. 3.3.1 Hull-White Model. 3.3.2 Generic Ornstein-Uhlenbeck Models. 3.4 Calibrating the Volatility. 3.4.1 Hull-White/Vasicek. 3.4.2 Generic Ornstein-Uhlenbeck Models. 3.5 Pricing Hybrids. 3.5.1 Finite Differences. 3.5.2 Monte Carlo. 3.6 Appendix: Least-Squares Minimization. 3.6.1 Newton-Raphson Method. 3.6.2 Broyden’s Method. CHAPTER 4: Hybrid Products. 4.1 The Effects of Assuming Stochastic Rates. 4.2 Conditional Trigger Swaps. 4.3 Target Redemption Notes. 4.3.1 Structure. 4.3.2 Back-Testing. 4.3.3 Valuation Approach. 4.3.4 Hedging. 4.4 Convertible Bonds. 4.4.1 Introduction. 4.4.2 The Governing Equation. 4.4.3 Detailed Specification of the Model. 4.4.4 Analytical Solutions for a Special CB. 4.5 Exchangeable Bonds. 4.5.1 The Valuation PDE. 4.5.2 Coordinate Transformations for Numerical Solution. CHAPTER 5: Constant Proportion Portfolio Insurance. 5.1 Introduction to Portfolio Insurance. 5.2 Classical CPPI. 5.3 Restricted CPPI. 5.3.1 Constraints on the Investment Level. 5.3.2 Constraints on the Floor. 5.3.3 An Example Structure. 5.4 Options on CPPI. 5.4.1 The Pricing. 5.4.2 Delta, Gamma, and Vega Exposures. 5.4.3 Hedging. 5.5 Nonstandard CPPIs. 5.5.1 Complex Fee Structures. 5.5.2 Dynamic Gearing. 5.5.3 Perpetual CPPI. 5.5.4 Flexi-Portfolio CPPI. 5.5.5 Off-Balance-Sheet CPPI. 5.6 CPPI as an Underlying. 5.7 Other Issues Related to the CPPI. 5.7.1 Liquidity Issues (Hedge Funds). 5.7.2 Assets Suitable for CPPIs. 5.8 Appendixes. 5.8.1 Appendix A. 5.8.2 Appendix B. 5.8.3 Appendix C. PART THREE: Equity Credit Hybrids. CHAPTER 6: Credit Modeling. 6.1 Introduction. 6.2 Background on Credit Modeling. 6.2.1 Structural Approach. 6.2.2 Reduced-Form Approach. 6.3 Modeling Equity Credit Hybrids. 6.3.1 Dynamics of the Hazard Rate. 6.3.2 Model Choice. 6.4 Pricing. 6.4.1 Credit Default Swap. 6.4.2 Credit Default Swaption. 6.4.3 European Call. 6.5 Calibration. 6.5.1 Stripping of Hazard Rate. 6.5.2 Calibration of the Hazard Rate Process. 6.5.3 Calibration of the Equity Volatility. 6.5.4 Discussion. 6.6 Introduction of Discontinuities. 6.6.1 The New Framework. 6.6.2 Dynamics of the Survival Probability. 6.6.3 Pricing of European Options. 6.6.4 Fourier Pricing. 6.7 Equity Default Swaps. 6.7.1 Modeling Equity Default Swaps. 6.7.2 Single-Name EDSs in a Deterministic Hazard Rate Model. 6.8 Conclusion. PART FOUR: Advanced Pricing Techniques. CHAPTER 7: Copulas Applied to Derivatives Pricing. 7.1 Introduction. 7.2 Theoretical Background of Copulas. 7.2.1 Definitions. 7.2.2 Measures of Dependence. 7.2.3 Copulas and Stochastic Processes. 7.2.4 Some Popular Copulas. 7.3 Factor Copula Framework. 7.4 Applications to Derivatives Pricing. 7.4.1 Equity Derivatives: The Altiplano. 7.4.2 Credit Derivatives: Basket and Tranche Pricing. 7.5 Conclusion. CHAPTER 8: Forward PDEs and Local Volatility Calibration. 8.1 Introduction. 8.1.1 Local and Implied Volatilities. 8.1.2 Dupire’s Formula and Its Problems. 8.1.3 Dupire-like Formula in Multifactor Models. 8.2 Forward PDEs. 8.3 Pure Equity Case. 8.4 Local Volatility with Stochastic Interest Rates. 8.5 Calibrating the Local Volatility. 8.6 Special Case: Vasicek Plus a Term Structure of Equity Volatilities. CHAPTER 9: Numerical Solution of Multifactor Pricing Problems Using Lagrange-Galerkin with Duality Methods. 9.1 Introduction. 9.2 The Modeling Framework: A General D-factor Model. 9.2.1 Strong Formulation of the Linear Problem: Partial Differential Equations. 9.2.2 Truncation of the Domain and Boundary Conditions. 9.2.3 Strong Formulation of the Nonlinear Problem: Partial Differential Inequalities. 9.2.4 Weak Formulation of the Nonlinear Problem: Variational Inequalities. 9.3 Numerical Solution of Partial Differential Inequalities (Variational Inequalities). 9.3.1 A Duality (or Lagrange Multiplier) Method. 9.4 Numerical Solution of Partial Differential Equations (Variational Equalities): Classical Lagrange-Galerkin Method. 9.4.1 Semi-Lagrangian Time Discretization: Method of Characteristics. 9.4.2 Space Discretization: Galerkin Finite Element Method. 9.4.3 Order of Classical Lagrange-Galerkin Method. 9.5 Higher-Order Lagrange-Galerkin Methods. 9.5.1 Crank-Nicolson Characteristics/Finite Elements. 9.6 Application to Pricing of Convertible Bonds. 9.6.1 Numerical Solution. 9.6.2 Numerical Results. 9.7 Appendix: Lagrange Triangular Finite Elements. 9.7.1 Lagrange Triangular Finite Elements. 9.7.2 Coefficients Matrix and Independent Term in Two Dimensions. CHAPTER 10: American Monte Carlo. 10.1 Introduction. 10.2 Broadie and Glasserman. 10.3 Regularly Spaced Restarts. 10.4 The Longstaff and Schwartz Algorithm. 10.4.1 The Algorithm. 10.4.2 Example: A Call Option with Monthly Bermudan Exercise. 10.5 Accuracy and Bias. 10.5.1 Extension: Regressing on In-the-Money Paths. 10.5.2 Linear Regression. 10.5.3 Other Regression Schemes. 10.5.4 Upper Bounds. 10.6 Parameterizing the Exercise Boundary. Bibliography. Index.
£60.00
John Wiley & Sons Inc The 90 Solution
Book SynopsisDiscover how to achieve superior investment performance I enjoyed this book on several levels. First: I appreciated the factual information about stock market behavior and the increasingly sophisticated packaged products being offered to mitigate market risk.Table of ContentsAcknowledgments. Introduction. Act I Slaying the Dragons. 1 Lessons from Shakespeare's Bastard Son. 2 This Is Not Your Grandfather's Stock Market. 3 The Farce That Is "Buy and Hold". Act II If Only You Could . . . 4 Simple, Simon Says. 5 Epiphany. 6 What If? Act III My Approach to Market Timing. 7 A Timing Manifesto. 8 Silencing Statistical Noise. 9 Technical Timing Signals. Act IV My Management Solutions. 10 My Mutual Fund Asset Allocation Solutions. 11 My Convergence Fund Solution. Act V Other Approaches. 12 Broad Strokes. 13 Other Timing Approaches and Resources. Afterword. Index.
£19.54
John Wiley & Sons Inc Accounting and Finance for Your Small Business
Book SynopsisAllowing readers to gain a more detailed understanding of the financial underpinnings of their businesses, Accounting and Finance for Your Small Business, Second Edition provides the key accounting and finance tools that a small business owner needs to operate and analyze the operations of his business.Table of ContentsPreface xiii Section I Preparing to Operate the Business 1 Chapter 1 Budgeting for Operations 3 Definition or Purpose of an Operating Budget 3 Signs of Budget Ineffectiveness 4 Improvements to the Budgeting System 6 Responsibility Accounting 9 Budget Tracking and Maintenance 21 The System of Interlocking Budgets 25 Need for Budget Updating 35 Summary 36 Chapter 2 Investing in Long-Term Assets and Capital Budgeting 39 Definitions 40 Overview and Use of Capital Budgeting 41 Life Cycles 42 Capital Budgeting Sequence 43 Producing Numbers to Get Dollars, the Use of Forms, and the Capital Budgeting Model 48 Miscellaneous Considerations 65 Product Discontinuance 66 Bailout 68 Summary 69 Appendix: Examples and Comparison of Calculations 70 Chapter 3 Basic Control Systems 77 The Need for Control Systems 77 Types of Fraud 79 Key Controls 81 When to Eliminate Controls 97 Summary 99 Section II Operating the Business 101 Chapter 4 Cash Flow Concerns 103 Cash 103 What to Do with Excess Cash 105 Cash Flows 108 Introduction to Cash Flow Budgets 112 Indications of Cash Flow Problems 112 Managing Cash 113 Preparation of the Cash Budget 126 Disbursements 127 Net Cash Flow and Cash Balances 130 Exceptions to Expected Cash Flows 131 Summary 132 Appendix: Cash Flow Example 133 Chapter 5 Financing 143 New Businesses 143 Zero Working Capital and Zero Fixed Assets 144 Types of Financing 148 Private Placement of Stock 157 Swapping Stock for Expenses 158 Stock Warrants 159 Stock Subscriptions 159 How to Obtain a Bank Loan 160 Sources of Debt Financing 167 Types of Loan Arrangements 168 Restrictions on Loans 171 Conditions That a Borrower Should Seek 173 Summary 175 Section III Evaluating the Operations of the Business 177 Chapter 6 Performance Measurement Systems 179 Financial Ratios 180 Types of Financial Ratios 182 Using Performance Measurements for Predictions 193 Operating Ratios 196 Other Ratios 202 The Balanced Scorecard 204 Summary 207 Chapter 7 Financial Analysis 209 Risk Analysis 209 Capacity Utilization 215 Breakeven Analysis 222 Summary 229 Chapter 8 Taxes and Risk Management 231 Controlling Tax Liabilities 232 Risk Management 237 Insurance 245 Types of Insurance Companies 249 Claims Administration 250 Summary 252 Chapter 9 Reporting 255 Federal Government Requirements 255 State Government Requirements 262 Local Government Requirements 267 Creditors 268 Equity Holders 269 Management Reports 269 Summary 286 Index 289
£58.50
John Wiley & Sons Inc Fair Value Financial Reporting Meeting the New
Book SynopsisIs Purchase Price Equal to Fair Value? With the FASB changing the requirements for increasing categories of assets and liabilities to be shown at current fair value, Fair Value for Financial Reporting answers this and other pertinent questions with crystal clarity.Table of ContentsPREFACE. CHAPTER 1. Impact of Fair Value on Earnings Per Share. Fundamentals of SFAS 141R. Developing Fair Value in a Business Combination. How an Appraiser Looks at Intangibles. Intended Use of Intangible Assets: “Market Participants”. Estimated Life of Assets. Impact on Earnings Per Share of Fair Value Calculations. Conclusion. CHAPTER 2. What Is Fair Value? Purpose of an Appraisal. Three Different Values Do Not Disprove Appraiser Integrity. Why Two Appraisers Provide Different Results. Importance of Assumptions. Evaluating an Appraisal Report. Accuracy of Appraisal Reports. Conclusion. CHAPTER 3. What Is Fair Value Reporting? FASB Leads the Way. Balance Sheet versus Income Statement. Changes in Balance Sheets Measure Income. Unrealized Gains Can Be Manipulated to Create Income. Should We Have Fair Value? Volatility. Concepts Statement 7. FASB’s Fair Value Proposals. Conclusion. CHAPTER 4. How Appraisers Develop Fair Value. Basic Valuation Principles. Use of the Three Approaches. Correlating the Answer. Value In-Use versus Value In-Exchange. What Is Value In-Use? What Is Value In-Exchange? FASB’s Dilemma. Can Fair Value Be Audited? Market Participants. Income Taxes and Subchapters Considerations in Valuation. Selecting an Appraiser. Conclusion. CHAPTER 5. Allocation of Purchase Price (SFASs 141R and 142). Is the Purchase Price Equal to Fair Value? Testing Fair Value. Weighted Average Cost of Capital. Synergies. Comparing SFAS 141R with Its Predecessor, SFAS 141. Transaction Costs. Contingent Consideration. Fair Value of Equity Securities Issued. Contingent Assets and Liabilities. Restructuring Costs. Identifying Specific Intangible Assets. Unpatented Technology. Backlog. Assembled Workforce. Bargain Purchases. Partial Acquisitions and Noncontrolling Interests. Conclusion. CHAPTER 6. Determining the Fair Value of Intangible Assets. Trademarks, Trade Names. Internet Domain Names. Noncompetition Agreements. Customer Lists and Customer Relationships. Customer Relationships. Franchise Agreements. Operating and Broadcast Rights. Patented and Unpatented Technology. Software. Software Developed for Sale to Others. Conclusion. CHAPTER 7. Valuation of Liabilities and Contingent Payments. FASB’s New Approach to Liabilities: “Expected Value”. Estimating and Valuing Legal Liabilities. Valuing Environmental Liabilities. Valuation of Contingent Purchase Price. Conclusion. CHAPTER 8. Testing for Impairment. Testing Goodwill for Impairment. Valuing Reporting Units. Phase 2: Implied Goodwill. Testing Identifiable Intangibles with an Indefinite Life. Testing Identifiable Intangibles with a Definite Life. Impairment of Property, Plant, and Equipment. Conclusion. CHAPTER 9. Valuation of Hard Assets and Real Estate. Highest and Best Use. Value In-Use versus Value In-Exchange. Physical Inspection and the Condition of Assets. Accounting Depreciation versus Appraisal Depreciation. Negative Goodwill. Hierarchy of Earnings. Assets Held for Sale. What to Do About Undervalued Assets. Sarbanes-Oxley Required Controls on PP&E. Size of the PP&E Problem. Controlling PP&E. A Perfect Solution. A Workable Solution. Minimum Capitalization Amounts Should Be Raised. Conclusion. CHAPTER 10. In-Process Research and Development. Cost versus Value. Development of In-Process Research and Development. Valuation of IPR&D. Conclusion. CHAPTER 11. Valuation of Inventories and Receivables. True Cost of Inventory. LIFO: Half of Fair Value. Net Realizable Value. Selling Expenses. What Is a “Reasonable Profit”? Work-in-Process and Raw Materials. Inventory Obsolescence. Summary of Fair Value of Inventories. Valuation of Receivables. Summary of Fair Value of Receivables. Conclusion. CHAPTER 12. Valuing Stock Options. Valuation of Options Under SFAS 123R. Seven Variables of Option Valuation. Valuation Methodology for Stock Options. Developing Supportable Assumptions for the Valuation. Conclusion. CHAPTER 13. Auditing of Valuation Reports and Selecting an Appraiser. Be Careful What You Ask For! Auditor Review of Valuation Reports. Every Appraisal Has at Least One Key Assumption. How to Choose an Appraiser. Obtaining and Evaluating Proposals for Valuation. Conclusion. INDEX.
£76.50
John Wiley & Sons Inc Commodities Rising The Reality Behind the Hype
Book SynopsisCommodities such as oil, precious metals, and agriculturals provide investors with superior long--term investment performance results and offer traders tremendous short--term opportunities. Commodities Rising analyzes the current commodity environment and looks out over the next few years to identify potential profit situations for investors.Trade Review"one of the most brilliant and independent-minded analysts. . . " (Barron's, December 18, 2006) …you would definitely look like you did your homework with that in your man-bag.' ( City Wealth, November 2006) Table of ContentsPreface. Chapter 1. The Commodities Rush Is On. Chapter 2. The Myth of the Commodities Supercycle and the Chinese Consuming Giant. Chapter 3. Commodities and the Global Economy. Chapter 4. Commodities as an Asset Class. Chapter 5. Commodity Investment Vehicles. Chapter 6. Commodity Strategies. Chapter 7. Precious Metals. Chapter 8. Energy Commodities. Chapter 9. Tropical Agriculturals. Chapter 10. Grains and Oilseeds. Chapter 11. Base Metals. Chapter 12. The Fundamentals Still Apply. Index.
£18.69
John Wiley & Sons Inc Finding the Hot Spots
Book SynopsisPraise for FINDING THE HOT SPOTS David Riedel''s Finding the Hot Spots provides keen insights into the new reality of investing with a global perspective. Internationally diversified investment portfolios reduce risk while enhancing returns, as many American-based individual and institutional investors have discovered in recent years. Riedel succeeds in providing simple, effective tools and strategies. --J. Craig Chapman Managing Director, Long-Term Asset Management (HK) Limited Finding the Hot Spots simplifies and demystifies international investing and makes non-U.S. markets alluring and accessible . . . a must-read for all individual investors. --John D. Meserve Chairman, BNY Jaywalk, Inc. Anyone considering investing in emerging markets should begin by reading David Riedel''s Finding the Hot Spots. This excellent book explains how to reap the benefits while avoiding the risks of investing in the world''s fastest growing econTrade Review"In this handy little book, Riedel gives you numerous ways to dream up and organize global stock ideas and investment themes."--Barron's, 12/4/06Table of ContentsChapter 1 Invest Internationally for Yourself 1 Chapter 2 Think Globally, Invest Locally 11 Chapter 3 Diversify—Don’t Put All Your Eggs in One Basket 33 Chapter 4 Understanding Relationships: Who Is Benefiting from Current Trends? 85 Chapter 5 Invest in Line with Government Goals 121 Chapter 6 Don’t Buy Regulatory Structure 139 Chapter 7 Know the Shareholders 155 Chapter 8 Buy the Banks 163 Chapter 9 The Impact of Currency 173 Chapter 10 Don’t Be the Last One In 185 Conclusion 193 Appendix 201 Index 209
£17.09
John Wiley & Sons Inc Personal Bankruptcy Laws For Dummies
Book SynopsisWith tips on understanding -- and surviving -- the new bankruptcy laws If you''re considering bankruptcy, you need straightforward answers and reliable advice. This handy guide covers it all -- so you can get your finances in line and your life back on track. This updated new edition covers everything you need to know about the new bankruptcy law and includes even better resources. Don''t get desperate -- get out of debt instead! Discover how to * Weigh the consequences of bankruptcy * Manage your spending * Find professional help you can trust * Decide on the right type of bankruptcy * Pass the means test * Keep more of your stuffTable of ContentsIntroduction 1 Part I: Bankruptcy: The Big Picture 7 Chapter 1: Considering Bankruptcy 9 Chapter 2: Stopping the Bleeding 27 Chapter 3: Meeting the Players 47 Chapter 4: Deciding Which Type of Bankruptcy Is Best for You 57 Chapter 5: Confronting the Means Test 69 Chapter 6: Getting from Here to There: The Bankruptcy Process 91 Part II: Avoiding Bankruptcy 115 Chapter 7: Considering Alternatives to Bankruptcy 117 Chapter 8: Handling Bill Collectors 135 Chapter 9: Negotiating with the IRS 145 Part III: Keeping Your Stuff 153 Chapter 10: Understanding Which Assets Are Off Limits to Creditors 155 Chapter 11: Dealing with Secured Debts 173 Chapter 12: Saving Your Home 183 Part IV: Getting Rid of (Most of) Your Debt 199 Chapter 13: Lingering Obligations 201 Chapter 14: A House of Cards: Wiping Out Credit-Card Debts 215 Chapter 15: Give unto Caesar: Using Bankruptcy to Deal with Tax Debts 223 Chapter 16: The Devil Made Me Do It: Fines, Fraud, and Other Foibles 237 Chapter 17: Till Debt Due Us Part: Bankruptcy and Divorce 247 Chapter 18: Student Loans and Other Mind Games 257 Part V: Strategies for a Successful Bankruptcy 271 Chapter 19: Avoiding Troubles with Your Trustee 273 Chapter 20: Living on the Edge in Chapter 13 Bankruptcy 283 Part VI: Enjoying Your Fresh Start 305 Chapter 21: Repairing Your Credit 307 Chapter 22: Staying Out of Financial Trouble 319 Part VII: The Part of Tens 327 Chapter 23: Ten Common Bankruptcy Mistakes 329 Chapter 24: Ten Things You Can Do Right Now to Ease Your Financial Woes 333 Chapter 25: Ten Common Questions about Bankruptcy 337 Appendix: Homestead Exemption Laws 343 Index 347
£12.59
John Wiley & Sons Inc International Corporate Governance After
Book SynopsisThe Sabanes-Oxley Act has been one of the most significant developments in corporate and securities regulation since the New Deal. This collection of important articles would be a valuable resource for anyone seeking to understand Sabanes-Oxley''s far-reaching effects on corporate governance in the United States and elsewhere. Jesse Fried, coauthor of Pay Without Performance: The Unfulfilled Promise of Executive Compensation and Professor of Law at the University of California, Berkeley The editors have assembled the latest cutting-edge research on international corporate governance by respected academics in this field. In this handbook, the editors deal with all aspects of the significant legislative changes to corporate governance regulation. It introduces the reader to the new rules that will certainly improve the reliability and the accuracy of disclosures made by corporations. The book comes at the right moment with the recent scandals such as Enron, which will edTable of ContentsPreface. Acknowledgments. About the Editors. About the Authors. PART ONE: FRAMEWORK OF CORPORATE GOVERNANCE. Chapter 1. The Ethics of Corporate Governance: What would the Political Philosophers Say? (Colin Read). Chapter 2. The Politics of Symbolism: Sarbanes-Oxley in Context (Justin O’Brien). Chapter 3. Governance and Performance Revisited (Øyvind Bøhren and Bernt Arne Ødegaard). Chapter 4. Corporate Governance as a Process Oriented Approach to Socially Responsible Organizations (Marijan Cingula). Chapter 5. The Impact of the New Corporate Governance Code on the Belgian Stock Market (Albert Corhay, Andree Dighaye and Pierre-Armand Michel). PART TWO: CORPORATE GOVERNANCE AND THE GLOBAL FINANCIAL MARKETS. Chapter 6. Corporate Governance of Hedge Funds (Robert Christopherson, Greg N. Gregoriou and William R. Kelting). Chapter 7. Corporate Governance Reform in Australia: The Intersection of Investment Fiduciaries and Issuers (Martin Gold). Chapter 8. Corporate Social Responsibility and Fiduciary Investment in Australia (Paul U. Ali). Chapter 9. Issuers’ Liability for Financial Information as an Instrument of Corporate Governance Enforcement (Clemens Völkl). Chapter 10. Investing in Death/Speculating on Mortality: Some Thoughts on Life Insurance Securitization (Paul U. Ali). PART THREE: SHARE OWNERSHIP AND SHAREHOLDER CONTROL RIGHTS. Chapter 11. Ownership Structure Metrics (Stefan Prigge and Sven Kehren). Chapter 12. The Effectiveness of Shareholders Meetings: An Overview of Recent Developments (Gregory F. Maassen and Darrell Brown). Chapter 13. The Market for Corporate Control and the Implications of the Takeover Directive (2004/25) (Blanaid Clarke). PART FOUR: ACCOUNTABILITY OF DIRECTORS AND EXECUTIVES. Chapter 14. Board Power Relations and the Impact of the UK’s Combined Code on Corporate Governance (Timothy J. Nichol). Chapter 15. CEO Compensation in Australia’s Largest Companies (Geof Stapledon). Chapter 16. Directors’ and Officers’ Liability in France (Alain-Xavier Briatte and Michael Julian). Chapter 17. Independent Directorship Systems in Greater China (Margaret Wang). PART FIVE: RESPONSIBILITIES TO STAKEHOLDERS, AND OTHER EMERGING TRENDS IN CORPORATE GOVERNANCE. Chapter 18. The Primary Stakeholder Relationships: Corporate Governance and Value Creation (Andrea Beretta Zanoni). Chapter 19. Family Ownership and Corporate Governance (María Sacristán-Navarro and Silvia Gómez-Ansón). Chapter 20. The European Social Model of Corporate Governance: Prospects for Success in an Enlarged Europe (Irene Lynch Fannon). Chapter 21. Contract Negotiation and Internal Regulation Mechanisms in a Firm (Hubert de La Bruslerie). Chapter 22. Prospects and Limits of Corporate Governance Codes (Björn Fasterling). Chapter 23. Assessing the Effectiveness of Boards of Directors and Individual Directors (Richard Leblanc). References. Index.
£47.25
John Wiley & Sons Inc Engineering Your Retirement
Book SynopsisA practical retirement planning resource for engineers, scientists, and mathematicians In 1995, Dr. Mike Golio, an electrical engineer, became seriously interested in planning for early retirement. In 2003, at the age of 49, he and his wife achieved their goal of financial independence and retired. Engineering Your Retirement is an outgrowth of his research. Whether retirement is imminent or many years off, this valuable guide''s straightforward, analytical approach to financial independence answers the critical questions to achieving successful, comfortable, and meaningful retirement. Written specifically for professionals in the engineering, science, and math fields, Engineering Your Retirement examines such important questions as: * How much money will I need to retire? * How long will it take for me to accumulate it? * What types of post-retirement activities are available to technical professionals? Engineering Your RTrade Review"This book should be of interest to anyone looking forward to retiring comfortably on one's own schedule." (Microwave Journal, October 2007) "Whether a novice or a seasoned veteran…definitely consider adding it to your library." (IEEE Microwave Magazine, June 2007) "…a worthwhile addition to your early retirement library. It's highly recommended." (The Retire Early Online Magazine, January/February 2007) “…Nelson’s compendium has proved to be an essential resource for so many people interested in fishes, for so long…” (Reviews in Fish Biology and Fisheries, 2006)Table of ContentsPreface. Acknowledgments. 1. Retire On Your Schedule. 1.1. Retirement Options. 1.2. Is There a Retirement Crisis? 1.3. How Much Do I Need to Retire? 1.4. How Long Will it Take Me to Save Enough Money? 1.5. Learning Your Own Life Values. 2 Analysis Tools and Calculations. 2.1. Predictions Based on Average Returns and Inflation. 2.2. Spending Models. 2.3. Historical Data. 2.4. Monte Carlo Simulation. 2.5. Historical Simulation and the 4% Rule. 3 Live Below Your Means (LBYM). 3.1. Spending. 3.2. Breaking the Relationship Between Earning and Spending. 3.3. Establishing Budget Projections. 3.4. Credit Cards. 3.5. Increasing Earnings. 4 Emergency Funds and Insurance (First Take Care of Stability). 4.1. Medical Insurance and Healthcare Budgets. 4.2. Emergency Fund. 4.3. Personal Financial Concerns. 4.4. Documents. 5 Investment Instruments. 5.1. Bonds. 5.2. Stocks. 5.3. Real Estate. 5.4. Annuities. 5.5. Defined Benefit Plans (Pensions). 5.6. Cash and Certificates of Deposit. 5.7. Social Security. 5.8. Mutual Funds. 5.9. Exchange-Traded Funds (ETFs). 5.10. Commodities. 6 Your Investment Plan. 6.1. Eliminate “Bad” Debt. 6.2. Investment Issues. 6.3. Tax-Advantaged Accounts and Free Money. 6.4. Taxable Investments. 6.5. House—Purchase or Rent? 6.6. Mortgage Payoff Decision. 6.7. Taxes. 7 What Will I Do When I Retire? 7.1. Work Part-Time. 7.2. Travel. 7.3. Volunteer. 7.4. Recreation and Leisure. 7.5. Health and Self-Improvement. 8 Final Issues. 8.1. Before You Leave the Building. 8.2. Where to Live. 8.3. Sources of Income. 8.4. Taxes. 8.5. Rebalancing. 8.6. Heirs. Appendix A: Web Site URLs: Information, Online Calculators and Software. Appendix B: Fundamental Financial Equations. Appendix C: Longevity Table. Index. About the Author.
£38.90
John Wiley & Sons Inc Financial Econometrics
Book SynopsisA comprehensive guide to financial econometrics Financial econometrics is a quest for models that describe financial time series such as prices, returns, interest rates, and exchange rates. In Financial Econometrics, readers will be introduced to this growing discipline and the concepts and theories associated with it, including background material on probability theory and statistics. The experienced author team uses real-world data where possible and brings in the results of published research provided by investment banking firms and journals. Financial Econometrics clearly explains the techniques presented and provides illustrative examples for the topics discussed. Svetlozar T. Rachev, PhD (Karlsruhe, Germany) is currently Chair-Professor at the University of Karlsruhe. Stefan Mittnik, PhD (Munich, Germany) is Professor of Financial Econometrics at the University of Munich. Frank J. Fabozzi, PhD, CFA, CFP (New Hope, PA) is an adjunct professor of Finance at Yale UniversiTable of ContentsPreface. Abbreviations and Acronyms. About the Authors. CHAPTER 1: Financial Econometrics: Scope and Methods. The Data Generating Process. Financial Econometrics at Work. Time Horizon of Models. Applications. Appendix: Investment Management Process. Concepts Explained in this Chapter (in order of presentation). CHAPTER 2: Review of Probability and Statistics. Concepts of Probability. Principles of Estimation. Bayesian Modeling. Appendix A: Information Structures. Appendix B: Filtration. Concepts Explained in this Chapter (in order of presentation). CHAPTER 3: Regression Analysis: Theory and Estimation. The Concept of Dependence. Regressions and Linear Models. Estimation of Linear Regressions. Sampling Distributions of Regressions. Determining the Explanatory Power of a Regression. Using Regression Analysis in Finance. Stepwise Regression. Nonnormality and Autocorrelation of the Residuals. Pitfalls of Regressions. Concepts Explained in this Chapter (in order of presentation) . CHAPTER 4: Selected Topics in Regression Analysis. Categorical and Dummy Variables in Regression Models. Constrained Least Squares. The Method of Moments and its Generalizations. Concepts Explained in this Chapter (in order of presentation). CHAPTER 5: Regression Applications in Finance. Applications to the Investment Management Process. A Test of Strong-Form Pricing Efficiency. Tests of the CAPM. Using the CAPM to Evaluate Manager Performance: The Jensen Measure. Evidence for Multifactor Models. Benchmark Selection: Sharpe Benchmarks. Return-Based Style Analysis for Hedge Funds. Hedge Fund Survival. Bond Portfolio Applications. Concepts Explained in this Chapter (in order of presentation). CHAPTER 6: Modeling Univariate Time Series. Difference Equations. Terminology and Definitions. Stationarity and Invertibility of ARMA Processes. Linear Processes. Identification Tools. Concepts Explained in this Chapter (in order of presentation). CHAPTER 7: Approaches to ARIMA Modeling and Forecasting. Overview of Box-Jenkins Procedure. Identification of Degree of Differencing. Identification of Lag Orders. Model Estimation. Diagnostic Checking. Forecasting. Concepts Explained in this Chapter (in order of presentation). CHAPTER 8: Autoregressive Conditional Heteroskedastic Models. ARCH Process. GARCH Process. Estimation of the GARCH Models. Stationary ARMA-GARCH Models. Lagrange Multiplier Test. Variants of the GARCH Model. GARCH Model with Student’s t-Distributed Innovations. Multivariate GARCH Formulations. Appendix: Analysis of the Properties of the GARCH(1,1) Model. Concepts Explained in this Chapter (in order of presentation). CHAPTER 9: Vector Autoregressive Models I. VAR Models Defined. Stationary Autoregressive Distributed Lag Models. Vector Autoregressive Moving Average Models. Forecasting with VAR Models. Appendix: Eigenvectors and Eigenvalues. Concepts Explained in this Chapter (in order of presentation). CHAPTER 10: Vector Autoregressive Models II. Estimation of Stable VAR Models. Estimating the Number of Lags. Autocorrelation and Distributional Properties of Residuals. VAR Illustration. Concepts Explained in this Chapter (in order of presentation). CHAPTER 11: Cointegration and State Space Models. Cointegration. Error Correction Models. Theory and Methods of Estimation of Nonstationary VAR Models. State-Space Models. Concepts Explained in this Chapter (in order of presentation). CHAPTER 12: Robust Estimation. Robust Statistics. Robust Estimators of Regressions. Illustration: Robustness of the Corporate Bond Yield Spread Model. Concepts Explained in this Chapter (in order of presentation). CHAPTER 13: Principal Components Analysis and Factor Analysis. Factor Models. Principal Components Analysis. Factor Analysis. PCA and Factor Analysis Compared. Concepts Explained in this Chapter (in order of presentation). CHAPTER 14: Heavy-Tailed and Stable Distributions in Financial Econometrics. Basic Facts and Definitions of Stable Distributions. Properties of Stable Distributions. Estimation of the Parameters of the Stable Distribution. Applications to German Stock Data. Appendix: Comparing Probability Distributions. Concepts Explained in this Chapter (in order of presentation). CHAPTER 15: ARMA and ARCH Models with Infinite-Variance Innovations. Infinite Variance Autoregressive Processes. Stable GARCH Models. Estimation for the Stable GARCH Model. Prediction of Conditional Densities. Concepts Explained in this Chapter (in order of presentation). APPENDIX: Monthly Returns for 20 Stocks: December 2000–November 2005. INDEX.
£71.25
John Wiley & Sons Inc SarbanesOxley Guide for Finance and Information
Book SynopsisPraise for Sarbanes-Oxley Guide for Finance and Information Technology Professionals Effective SOX programs enlist the entire organization to build and monitor a compliant control environment. However, even the best SOX programs are inefficient at best, ineffective at worst, if there is a lack of informed, competent finance and IT personnel to support the effort. This book provides these important professionals a needed resource for and road map toward successfully implementing their SOX initiative. Scott Green Chief Administrative Officer, Weil, Gotshal & Manges LLP and author, Sarbanes-Oxley and the Board of Directors As a former CFO and CIO, I found this book to be an excellent synopsis of SOX, with impressive implementation summaries and checklists. Michael P. Cangemi CISA, Editor in Chief, Information Systems Control Journal and author, Managing the Audit Function An excellent introduction to the Sarbanes-Oxley Act fTable of ContentsPREFACE. ACKNOWLEDGEMENTS. INTRODUCTION. PART I: Sarbanes-Oxley For The Finance Professional. CHAPTER 1: Scope and Assessment of the Act. Integrity. Independence. Proper Oversight. Accountability. Strong Internal Controls. Transparency. Deterrence. Corporate Process Management. CHAPTER 2: Internal Controls. Components of Internal Control. Purpose of Internal Control. Developing an Internal Control System. CHAPTER 3: Control Environment. Risk Assessment. Information and Communication. Monitoring. CHAPTER 4: Material Weaknesses. Specific Internal Controls to Evaluate. Disclosure Committee. CHAPTER 5: Implementing Sarbanes-Oxley: What Does Compliance Look Like? Time Line. Checklists. Reporting, Documentation, and Archiving. Disclosure. CHAPTER 6: Technology Implications. Storage Systems. IT Solutions. Changes in IT Management. CHAPTER 7: Sarbanes-Oxley–Related Bodies. Public Company Accounting Oversight Board. Committee of Sponsoring Organizations. Securities and Exchange Commission. Financial Accounting Standards Board. CHAPTER 8: Opportunities and Challenges Created by Sarbanes-Oxley. Opportunities. Challenges. CHAPTER 9: Summary for the CFO. Changes to Corporate Governance. Catalyst for Improvement. PART II: Sarbanes-Oxley For The IT Professional. CHAPTER 10: Impact of Sarbanes-Oxley. Impact on the Enterprise, the CEO, and the CFO. Impact of Sarbanes-Oxley on Corporate Management Systems. Impact of Sarbanes-Oxley on the Technology Infrastructure. CHAPTER 11: Technologies Affected by Sarbanes-Oxley: From Sarbanes-Oxley to SOCKET. Separate Vendor Hype from Reality. Sarbanes-Oxley Compliance as an IT Project. Perspective on Sarbanes-Oxley Goals. Steps for Sarbanes-Oxley Compliance. Sarbanes-Oxley and The SEC. CHAPTER 12: Enterprise Technology Ecosystem. Organic IT Architecture. Ecosystem and Sarbanes-Oxley. CHAPTER 13: Implementing the SOCKET Methodology. Species or Components of the Enterprise Technology Ecosystem. COSO Framework. SOCKET Technologies. Transactional Systems: ERP, SCM, CRM. Analytical and Reporting Systems. Data Warehousing. CHAPTER 14: SOCKET and Enterprise Information Management. Document Management and Sarbanes-Oxley. Document Security. Communication and Networking. CHAPTER 15: The Process. Introduction to the Process. Strategic (Top-Down) Approach. Tactical (Bottom-Up) Approach. Monitoring the Audit Team. Implementation Process: Reengineering for Sarbanes-Oxley Compliance. Beyond Sarbanes-Oxley: From SOCKET to Success Ecosystem. Conclusions. APPENDIX A Sarbanes-Oxley Implementation Plan: Developing an Internal Control System for Compliance (Focusing on Sections 302 and 404). APPENDIX B Project to Process: Making the House a Home. APPENDIX C Enterprise Project Management and the Sarbanes-Oxley Compliance Project. APPENDIX D Enterprise Risk Management—Integrated Framework. APPENDIX E COBIT 3—Executive Summary. APPENDIX F COBIT 4—Executive Summary. INDEX.
£49.50
John Wiley & Sons Inc Derivatives Markets Valuation and Risk Management
Book SynopsisDerivative contracts are incredibly powerful tools for managing expected return and risk. In order to take full advantage of the opportunities they afford, practitioners need to have a thorough understanding of how derivative contracts are valued.Table of ContentsPreface ix Acknowledgments xxv About the Author xxvii Part One Derivative Markets 1 Chapter 1 Derivative Contracts and Markets 3 Part Two Fundamentals of Valuation 49 Chapter 2 Assumptions and Interest Rate Mechanics 51 Chapter 3 Relation between Return and Risk 89 Part Three Forwards/Futures/Swap Valuation 119 Chapter 4 No-Arbitrage Price Relations: Forwards, Futures, Swaps 121 Chapter 5 Risk Management Strategies: Futures 143 Part Four Option Valuation 173 Chapter 6 No-Arbitrage Price Relations: Options 175 Chapter 7 Valuing Standard Options Analytically 201 Chapter 8 Valuing Nonstandard Options Analytically 261 Chapter 9 Valuing Options Numerically 303 Chapter 10 Risk Management Strategies: Options 347 Part Five Stock Derivatives 381 Chapter 11 Stock Products 383 Chapter 12 Corporate Securities 419 Chapter 13 Compensation Agreements 451 Part Six Stock Index Derivatives 467 Chapter 14 Stock Index Products: Futures and Options 469 Chapter 15 Stock Index Products: Strategy Based 517 Part Seven Currency Derivatives 563 Chapter 16 Currency Products 565 Part Eight Interest Rate Derivatives 601 Chapter 17 Interest Rate Products: Futures and Options 603 Chapter 18 Interest Rate Products: Swaps 637 Chapter 19 Credit Products 679 Chapter 20 Valuing Interest Rate Products Numerically 705 Part Nine Commodity Derivatives 729 Chapter 21 Commodity Products 731 Part Ten Lessons Learned 771 Chapter 22 Key Lessons 773 Appendices A. Elementary Statistics 779 B. Regression Analysis 821 C. Statistical Tables 861 D. Glossary 869
£101.25
John Wiley & Sons Inc SAP Foreign Currency Revaluation FAS 52 and GAAP
Book Synopsis"SAP Foreign Currency Revaluation-regulations, its impact, and what it takes to implement it in SAP-is a single handbook that simplifies a complex and daunting task of currency valuation for SAP and other ERP implementers. A must-read!" -Kalpesh Khandhadia, SAP Consultant, Linksoft-IT Inc.Table of ContentsPreface Acknowledgement 1. U.S. Accounting Requirements. 2. Sap Revaluation Overview. 3. G/L Account Indicator Impact. 4. Revaluation without Valuation Areas. 5. Revaluation with Full Valuation Areas. 6. Revaluation with ONE Valuation Area. 7. Common Revaluation Configuration. 8. Valuation Variant Set Up. List/Calculation Variant. Posting Variant. Appendix. References. Glossary. Index.
£76.50
John Wiley & Sons Inc Bankruptcy and Insolvency Accounting Volume 1
Book SynopsisAccountants and financial managers are often the first professionals to realize that a financial problem exists within a corporation but must be familiar with the various alternatives available to clients before they can offer solutions. Completely updated, Bankruptcy and Insolvency Accounting, Seventh Edition, Volume 1 provides detailed information on SOP 90-7 and FASB statements 141, 142, and 144 and revisions made in CSSR 93-1 by CSSR 03-1. The process of corporate restructuring is thoroughly described for controllers, CEOs, CFOs and CPAs with small businesses as clients.Table of ContentsPreface xxxv Acknowledgments xxxix About the Author xli PART ONE BANKRUPTCY AND INSOLVENCY ENVIRONMENT 1 1 Accountant’s and Financial Advisor’s Role in Perspective, 3 1.1 Introduction, 3 1.2 Scope of Coverage, 4 Accounting Services, 5 1.3 Need for Financial Advisor’s Services, 5 1.4 Financial Advisor Defined, 6 Topical Overview, 7 1.5 Economic Causes of Business Failure, 7 1.6 Business Turnaround, 7 1.7 Alternatives Available to a Financially Troubled Business, 7 1.8 Comparison of Title 11 of the United States Code with the Bankruptcy Act, 11 1.9 Retention of the Financial Advisor and Fees, 13 1.10 Accounting Services, 14 1.11 Special Investigation and Financial Reporting, 14 1.12 Tax Awareness, 14 Responsibilities of Independent Accountant, 15 1.13 Responsibilities in General, 15 1.14 Observation of Business Decline, 15 1.15 Responsibility to Client, 16 1.16 Advice on Selection of Attorneys, 17 1.17 Other Steps to “Manage” the Proceedings, 18 Professional Certification, 18 1.18 Certified Insolvency and Restructuring Advisors, 18 1.19 Certification in Distressed Business Valuation, 20 2 Economic Causes of Business Failures, 21 2.1 Introduction, 21 Definition of Successful and Unsuccessful Business, 21 2.2 Failure Defined, 21 2.3 Business Failure Statistics, 23 Causes of Financial Difficulty, 24 2.4 Introduction, 24 2.5 Size of Business Failures, 26 2.6 Geographic Distribution of Business Failures, 29 2.7 Age of Business Failures, 30 2.8 Business Failures and Economic Conditions, 30 2.9 Characteristics of the Economic System, 33 2.10 Casualties, 34 2.11 Inside Underlying Causes, 34 2.12 Dishonesty and Fraud: Planned Bankruptcies, Sham, 42 2.13 Other External Causes, 42 Stages of Financial Failure, 43 2.14 Introduction, 43 2.15 Period of Incubation, 44 2.16 Cash Shortage, 45 2.17 Financial or Commercial Insolvency (Equity Definition), 45 2.18 Total Insolvency (Bankruptcy Definition), 45 2.19 Bankruptcy or Out-of-Court Workout, 45 Detection of Failure Tendencies, 46 2.20 Introduction, 46 2.21 Trend Analysis, 46 2.22 Analysis of Accounting Measures, 48 2.23 Analysis of Management, 64 2.24 Importance of Forecasts, 64 2.25 Other Factors, 65 PART TWO LEGAL ASPECTS OF BANKRUPTCY AND INSOLVENCY PROCEEDINGS 67 3 Turnaround Process, 69 3.1 Objectives, 69 Stages of Turnaround Process, 69 3.2 Introduction, 69 3.3 Stage 1: Management Change, 71 3.4 Stage 2: Situation Analysis, 72 Competitive Ability, 77 3.5 Stage 3: Design and Selection of Turnaround Strategy, 78 3.6 Stage 4: Emergency Action Stage, 81 3.7 Stage 5: Business Restructuring Stage, 87 3.8 Stage 6: Return-to-Normal Stage, 89 Characteristics of Effective Turnaround Managers, 90 3.9 Introduction, 90 3.10 Organizational Leader, 91 3.11 Ability to Develop and Implement Strategy, 91 3.12 Entrepreneurial Instincts, 91 3.13 “Hands-On” Operating Experience, 91 3.14 Effective Negotiating Skills, 92 3.15 Good Interviewing Skills, 92 3.16 Action Orientation, 92 3.17 Trustworthiness and Fairness, 93 Techniques Used in Business Turnarounds, 94 3.18 Introduction, 94 3.19 Lean Manufacturing, 94 3.20 Activity-Based Costing, 98 3.21 Retail Store “Four-Wall” Analysis, 102 3.22 Business Process Reengineering, 108 Summary and Recommendations, 109 3.23 Summary, 109 4 Nonbankruptcy Proceedings, 111 4.1 Introduction, 111 Out-of-Court Settlements, 111 4.2 Nature of Proceedings, 111 4.3 Importance of an Early Meeting Date, 113 4.4 Preparation for the Creditors’ Meeting, 113 4.5 Appointment of Creditors’ Committee, 114 4.6 Duties and Functions of Creditors’ Committee, 115 4.7 Interim Management, 116 4.8 Committee Management, 116 Preparation of a Plan of Settlement, 118 4.9 Introduction, 118 4.10 Conditions of Agreement, 119 4.11 Out-of-Court Agreement Prior to Chapter 11 (Prepackaged Bankruptcy), 120 Advantages and Disadvantages, 121 4.12 Advantages, 121 4.13 Disadvantages, 121 Assignment for the Benefit of Creditors (State Court), 122 4.14 Introduction, 123 4.15 Duties, Functions, and Procedures of Assignee, 122 4.16 Discharge of Debts, 123 4.17 Advantages, 124 4.18 Disadvantages, 125 5 Nature of Bankruptcy and Insolvency Proceedings, 127 Origin, 127 5.1 Introduction, 127 5.2 United States, 128 5.3 Insolvency and Bankruptcy Laws Today, 130 5.4 Current Bankruptcy Statistics, 132 Nature of Insolvency, 134 5.5 Types of Insolvency, 134 5.6 Equity versus Bankruptcy Meanings of Insolvency, 135 5.7 Determination of Assets and Liabilities, 135 5.8 Valuation of Assets, 136 5.9 Insolvency and the Bankruptcy Code, 136 5.10 Should There Be a Threshold Test?, 137 5.11 Alternatives Available to a Financially Troubled Business, 139 Assignment for the Benefit of Creditors (State Court), 140 5.12 Introduction, 140 5.13 Duties, Functions, and Procedures of Assignee, 140 5.14 Discharge of Debts, 141 5.15 Advantages, 142 5.16 Disadvantages, 142 Provisions Common to all Proceedings, 143 5.17 Introduction, 143 5.18 Bankruptcy Courts, 144 5.19 U.S. Trustee, 146 5.20 Sovereign Immunity, 149 5.21 Commencement of Cases, 154 5.22 Filing and Quarterly Fees, 156 5.23 Partnership, 157 5.24 Meeting of Creditors, 158 5.25 Meeting of Equity Security Holders, 159 5.26 Adequate Protection, 159 5.27 Automatic Stay, 164 5.28 Use of the Estate’s Property, 174 5.29 Executory Contracts and Leases, 175 5.30 Utility Service, 193 5.31 Allowance of Claims or Interests, 196 5.32 Expense of Administration, 202 5.33 Priorities, 205 5.34 Exemptions, 207 5.35 Discharge of Debts, 211 5.36 Property of the Estate, 213 5.37 Avoiding Power of Trustee, 220 5.38 Reclamation and 503(b)(9) Claim, 222 5.39 Preferences, 226 5.40 Fraudulent Transfers, 249 5.41 Postpetition Transfers, 258 5.42 Postpetition Effect of Security Interest, 259 5.43 Setoffs, 260 Chapter 7 Liquidation, 263 5.44 Filing the Petition, 263 5.45 Trustee, 264 5.46 Creditors’ Committee, 266 5.47 Partnerships, 267 5.48 Treatment of Tax Liens, 269 5.49 Liquidation of Assets, 269 5.50 Discharge, 271 5.51 Discharge of Environmental Claims, 278 SIPC Liquidation, 278 5.52 Introduction, 278 5.53 Determination of Need of Protection, 279 5.54 Appointment of Trustee, 280 5.55 Court Jurisdiction, 280 5.56 Powers and Duties of Trustee, 283 5.57 Satisfaction of Claims, 284 5.58 Prohibited Acts, 286 5.59 Role of Securities and Exchange Commission, 287 5.60 Compensation in an SIPA Action, 288 6 Rehabilitation Proceedings Under the Bankruptcy Code, 289 6.1 Introduction, 289 6.2 Purpose of Chapter 11, 289 Operating Under Chapter 11, 290 6.3 Role of the Court and U.S. Trustee, 290 6.4 KERPs, 292 6.5 Consolidation of Chapter 11 Petitions, 296 6.6 Creditors’ and Equity Holders’ Committees, 302 6.7 Appointment or Election of Trustee, 309 6.8 Appointment of Examiner, 314 6.9 Operation of the Business, 318 6.10 Automatic Stay, 319 6.11 Impact of Timbers, 319 6.12 Use of Collateral, 320 6.13 Use of Cash Collateral, 320 6.14 Obtaining Credit, 322 6.15 Claims and Interests, 330 6.16 Special Provisions for Partially Secured Creditors, 340 Developing the Plan, 342 6.17 Negotiating a Chapter 11 Plan, 343 6.18 Exclusivity Period, 344 6.21 Secured Claim Classification, 356 6.22 Interest Classification, 357 6.23 Content of the Plan, 357 6.24 Permissible Provisions, 359 6.25 Impairment of Claims, 361 6.26 Disclosure Statement, 364 6.27 Modification of the Plan, 373 Confirmation of the Plan, 375 6.28 Acceptance of the Plan, 375 6.29 Confirmation Hearing, 375 6.30 Confirmation Requirements, 376 6.31 Best Interest of Creditors, 378 6.32 Priority Treatment, 379 6.33 Feasibility, 381 6.34 Cramdown, 385 6.35 Chapter 11 Cases Filed by Individuals, 394 Postconfirmation, 397 6.36 Impact, 397 6.37 Distribution, 400 6.38 Discharge of Debts, 401 6.39 Postconfirmation Recovery, 401 6.40 Securities Law Exemption, 402 6.41 Final Decree, 404 6.42 Conversion to Chapter 7 or Dismissal, 405 6.43 Advantages and Disadvantages of Chapter 11, 407 Chapter 12: Adjustment of Debts of a Family Farmer with Regular Annual Income, 407 6.44 Purpose, 407 6.45 Requirements for Use, 408 6.46 Operation of Farm, 408 6.47 Chapter 12 Plan, 409 Chapter 13: Adjustment of Debts of an Individual with Regular Income, 411 6.48 Nature, 411 6.49 Filing of Petition, 411 6.50 Operation of Business, 413 6.51 The Plan, 413 6.52 Discharge of Debts, 417 6.53 Use of Chapter 13 by Business, 418 6.54 Chapter 15: Ancillary and Other Cross Border Cases, 419 7 Retention of the Financial Advisor and Fees, 427 7.1 Introduction, 427 Retention of the Financial Advisor, 428 7.2 The Accountant or Financial Advisor’s Role in the Proceedings, 428 7.3 Obtaining the Engagement, 428 7.4 Retention Procedure, 429 7.5 Creditors’ Committee, 432 7.6 Source of Payment, 433 7.7 Affidavit of Proposed Financial Advisor, 434 7.8 Survey of Work to Be Performed, 440 7.9 Application for Retention, 441 7.10 Retention Order, 444 7.11 Retention on a Retainer Basis, 444 7.12 Deviations from Retention Order, 445 7.13 Accountants as Consultants or Financial Advisors, 445 7.14 Prepetition Retention, 446 7.15 Retention Procedure—Informal, 446 7.16 Accountants as Quasi-Officers of the Court, 447 Determination of Financial Advisor’s Fees, 447 7.17 Introduction, 447 7.18 SEC May Object to Fees, 448 7.19 Compensation Reviewed by U.S. Trustee, 449 7.20 Compensation Must Be Approved by the Court, 449 7.21 Factors to Consider When Estimating Fees, 453 7.22 Compensation Based on Comparable Services, 458 7.23 Prepetition Fees, 460 Time Records, 461 7.24 Requirements, 461 Petition for Fee Allowance, 462 7.25 Court Discretion in Ruling on Fees, 462 7.26 Procedure for Filing the Petition, 465 7.27 Payment for Services Rendered, 466 8 Accounting and Financial Services for Debtors-in-Possession or Trustee, 469 Nature of Accounting Services, 469 8.1 Introduction, 469 8.2 Parties Retaining Accountants and Financial Advisors, 469 8.3 Summary of Services, 471 Prefiling Stage of Chapter Proceedings, 472 8.4 Importance of Early Meetings, 472 8.5 Advice on Selection of Counsel, 473 8.6 Conference with Attorney, 473 8.7 Determine Alternatives, 474 8.8 Prebankruptcy Planning, 475 Accounting/Financial Reporting Requirements, 481 8.9 Introduction, 481 8.10 Affidavits in Support of Petition, 483 8.11 Supporting Schedules, 484 8.12 Statement of Financial Affairs, 487 8.13 Monthly Reporting, 488 8.14 U.S. Trustee’s Requirements, 489 8.15 Operating Statements, 490 8.16 SEC Reporting in Chapter 11, 492 8.17 Bankruptcy Claims Management Process, 495 Formulation of a Plan of Reorganization, 499 8.18 Introduction, 499 8.19 Liquidation Value of Assets, 500 8.20 Projection of Future Operations, 501 8.21 Reorganization Value, 501 8.22 Pro Forma Balance Sheet, 502 8.23 Formulating an Amended Plan, 503 8.24 Disclosure Statement, 503 Accountant and Financial Advisor as Examiner, 504 8.25 Nature of Service, 504 Additional or Other Accounting Services, 505 8.26 Introduction, 505 8.27 Normal Accounting Services, 505 8.28 Special Investigation, 505 8.29 Accounting Services and the Granting of New Credit, 507 Professional Conduct of Accountants and Financial Advisors, 508 8.30 Introduction, 508 8.31 Personal Liability: Preparation of Financial Statements, 508 8.32 Professional Conduct of Debtor’s Accountant— Toward Client, 509 8.33 Professional Conduct of Debtor’s Accountant— Toward Creditors’ Accountant/Advisors, 510 8.34 Direct Liability to Third Parties, 511 8.35 Other Professional Ethical Factors, 511 9 Other Financial Advisory Services for Debtors-in-Possession or Trustee, 513 9.1 Introduction, 513 Management Advisory Services, 513 9.2 Introduction, 513 9.3 Long-Range Business Plan, 514 9.4 Financial Projections, 516 Interim Management Services, 516 9.5 Introduction, 516 9.6 Retention, 517 9.7 Billing, 517 Balloting and Noticing Agent Services, 517 9.8 Noticing Overview, 517 9.9 Solicitation Overview, 518 9.10 Pre-Balloting Services, 519 9.11 Plan Classes, 519 9.12 Solicitation Process, 520 9.13 Plan Information and Ballots, 520 Chapter 7 and Chapter 11 Liquidations, 521 9.14 Introduction, 521 9.15 Items Requiring Immediate Attention, 521 9.16 Performance of Audits and Other Special Investigations, 522 9.17 SIPC Liquidation, 522 Postconfirmation Services, 523 9.18 Overview, 523 9.19 Litigation Trusts, 523 9.20 Tort Trusts, 523 10 Accounting and Financial Services for the Creditors’ Committee, 525 Nature of Creditors’ Committee, 525 10.1 Introduction, 525 10.2 Creditors’ Committees, 526 10.3 Directing Committee Activities, 534 10.4 Data, 535 10.5 Bargaining Process, 535 10.6 Role of Creditors’ Financial Advisor in the Bargaining Process, 536 10.7 Form of Consideration, 537 Monitoring Debtor’s Activities, 537 10.8 Introduction, 537 10.9 Areas Requiring Immediate Attention, 537 10.10 Importance of Speed, 538 10.11 Establishment of Proper Controls, 539 10.12 Investigation of Causes of Failure and Development of Controls to Limit Further Impairment of Assets, 540 10.13 Review of Receipts and Disbursements Control, 540 10.14 Review of Debtor’s Accounting System, 541 10.15 “Insider” Problem, 542 10.16 Review of Weekly/Monthly Reporting, 544 Special Investigations and Reviews, 545 10.17 Investigation of Debtor’s Books and Records, 545 10.18 Review of Debtor’s Transactions, 546 10.19 Evaluation of Debtor’s Projections, 546 10.20 Review of Plan of Reorganization and Disclosure Statement, 547 Other Accounting Services, 550 10.21 Introduction, 550 10.22 Secured Creditor, 550 10.23 Major Stockholder or Equity Committee, 550 10.24 Responsibilities of Creditors’ Financial Advisor, 551 11 Valuation of a Business in Bankruptcy Proceedings, 553 Importance of Valuation, 553 11.1 Introduction, 553 11.2 Adequate Protection under Section 361, 554 11.3 Claims Determination, 558 11.4 Recovery Action, 561 11.5 Chapter 13 Secured Claims, 567 11.6 Determining Best Interest of Creditors and Stockholders under Chapter 11, 568 11.7 Determining Whether a Plan Is Fair and Equitable to a Dissenting Class in Chapter 11, 569 11.8 Determining Feasibility, 573 11.9 Codification of Value, 573 Liquidation Values, 575 11.10 Introduction, 575 11.11 Approaches, 577 Going-Concern (Reorganization) Valuation, 578 11.12 Introduction, 578 11.13 Cost of Capital, 579 11.14 Appraisal Value or Replacement Cost, 588 11.15 Market Value of Securities, 588 11.16 Income Approach (Discounted Cash Flows), 589 11.17 Market Approach, 596 11.18 Asset-Based (Cost) Approach, 607 11.19 Discounts and Premiums, 612 11.20 Synthesizing Results, 618 11.21 Determining Liabilities, 622 PART THREE INVESTIGATION AND REPORTS 12 Special Areas of Inquiry, 627 Nature of Investigation, 627 12.1 Introduction, 627 12.2 Objectives, 628 12.3 Balance Sheet Emphasis, 629 12.4 Modifications of Investigation, 629 Introduction to the Special Areas of Inquiry, 631 12.5 Irregularities, 631 12.6 Fraud, 633 12.7 Proof of Fraud, 634 12.8 Auditor’s Responsibility for the Detection of Irregularities, 634 12.9 Methods of Discovering Irregularities and Fraud, 640 Availability of Books and Records, 641 12.10 Locating and Obtaining Possession of the Records, 641 12.11 Scheduling the Books; Procedure Followed for Missing Records, 642 Fraudulent Transfers, 642 12.12 Transfer of Assets without Fair Consideration, 642 12.13 Sales of Assets Below Market Values, 643 12.14 Transfer of Assets to Insiders, Officers, Employees, Relatives, and Others, 643 Concealment of Assets, 648 12.15 Merchandise, 648 12.16 Cash Surrender Value of Officers’ Life Insurance Policies, 650 12.17 Deposits and Security, 651 12.18 Investments and Real Estate, 651 12.19 Machinery and Equipment, 652 False Entries and Statements, 652 12.20 Mutilation and Alteration of Records, 652 12.21 Concealment and Destruction of Records, 653 12.22 Forgery, 653 12.23 Issuance of False Statements, 653 Financing Irregularities, 657 12.24 Receivables, 657 12.25 Inventory, 659 Preferential Payments, 660 12.26 Introduction, 660 12.27 Recovery of Preferential Payments, 661 12.28 Search for Preferential Payments, 662 12.29 Inflated Claims, 663 Applicability of Generally Accepted Auditing Standards, 664 12.30 Auditing Standards, 664 12.31 Auditing Procedures, 665 12.32 Audit Program Guide, 666 13 Financial Reporting During Bankruptcy, 667 13.1 Introduction, 667 Form and Substance of Financial Statements, 668 13.2 Financial Data Required at the Date of Filing of Petition in Chapter 11, 668 13.3 Balance Sheet, 668 13.4 Rejected Leases, 677 13.5 Warranty Reserves and Similar Liabilities, 678 13.6 Pension Liability, 679 13.7 Pro Forma Statement of Financial Position, 681 13.8 Notes to Statements, 681 13.9 Statement of Operations, 682 13.10 Statement of Cash Flows, 687 13.11 Statement of Capital Deficiency, 689 13.12 Statement of Affairs, 689 13.13 Special-Purpose Statements, 693 Accounting for a Chapter 11 Filing, 694 13.14 Use of New Accounts, 694 13.15 Illustration of Entries, 696 13.16 Accrued Interest, 697 14 Reporting Results of the Plan, 699 14.1 Introduction, 699 Chapter 11, 699 14.2 Requirements for Fresh-Start Reporting, 699 14.3 Allocation of Reorganization Value, 701 14.4 Disclosures, 704 14.5 Recording the Adoption of Fresh-Start Reporting, 705 14.6 Deferred Taxes, 708 14.7 Disclosure Statement, 710 14.8 Subsequent Events and Preconfirmation Contingencies, 711 14.9 Reporting by Entities Not Qualifying for Fresh Start, 714 14.10 Comparison with Prior Periods, 714 Out-of-Court Workouts, 715 14.11 Introduction, 715 14.12 Debt Discharge under FASB Statement No. 15, 715 14.13 Reporting of Income from Debt Discharge When FASB Statement No. 15 Is Not Applicable, 723 14.14 Determining the Amount of Income from Debt Discharge When FASB Statement No. 15 Is Not Applicable, 724 Quasi-Reorganization, 724 14.15 Introduction, 724 14.16 Adjustment of Equity Section Only (“Mini Quasi”), 725 14.17 Adjustment of All Accounts, 726 14.18 Conditions Necessary for Quasi-Reorganization, 729 14.19 Quasi-Reorganization and the SEC, 729 15 Reporting on an Insolvent Company, 731 15.1 Introduction, 731 Litigation Services, 734 15.2 Application of Litigation Services to Bankruptcy, 734 15.3 Disclosure Requirements, 736 15.4 Operating Reports, 736 15.5 Investigative Services, 737 15.6 Financial Projections, 738 Accountant’s Report: Nonlitigation Services, 739 15.7 Introduction, 739 15.8 Limitations on Scope, 740 15.9 Unique Disclosures in Report, 741 15.10 Full Disclosure, 742 15.11 Accountant’s Responsibility for Disclosure, 743 Going-Concern Concept, 743 15.12 Introduction, 743 15.13 Going-Concern Concept Defined, 744 15.14 Absence of Evidence to the Contrary, 745 15.15 Auditor’s Responsibility for Evaluation, 746 15.16 Audit Procedures, 746 15.17 Consideration of Management’s Plans, 747 Types of Opinions, 748 15.18 Unqualified Opinion, 748 15.19 Qualified Opinion, 749 15.20 Disclaimer of Opinion, 750 15.21 Adverse Opinion, 750 15.22 Reports Relating to the Results of Applying Agreed-On Procedures, 751 Unaudited Financial Statements, 753 15.23 Introduction, 753 15.24 Public Entity Report, 753 15.25 Nonpublic Entity Reports, 756 Reporting on a Liquidation of the Debtor, 762 15.26 Introduction, 762 15.27 Single-Year Report, 763 15.28 Comparative Financial Statements, 764 15.29 Solvency Letters, 764 15.30 Reports on Prospective Financial Statements, 765 15.31 Liquidation Analysis, 765 16 Tax Awareness, 767 16.1 Introduction, 767 Notification of Proceedings and Filing of Returns, 767 16.2 Notice to Governmental Agencies, 767 16.3 Responsibility for Filing Income Tax Returns: Corporations, 768 16.4 Responsibility for Filing Income Tax Returns and Other Information Required by the Bankruptcy Court: Individual and Partnership, 769 Special Rules for Individuals, 774 16.5 Introduction, 774 16.6 Income and Deductions, 774 16.7 Transfers between Debtor and Estate, 775 16.8 Attribute Carryover to Estate, 778 16.9 Attribute Carryover to Debtor, 778 16.10 Carryback of Net Operating Losses and Other Credits Incurred Subsequent to Commencement of Case, 779 16.11 Administrative Expenses, 779 16.12 Change in Accounting Period, 782 Minimization of Tax and Related Payments, 782 16.13 Estimated Taxes, 782 16.14 Prior Year Taxes, 782 16.15 Pension Funding Requirements, 782 Treatment of Income During Bankruptcy Period, 782 16.16 Income Required to Be Reported, 782 16.17 Deductions Allowed, 783 16.18 Discharge of Debts, 784 16.19 Debt Discharge by Farmers, 788 16.20 Cancellation of Real Property Business Indebtedness, 789 16.21 Basis Adjustment, 790 16.22 Debt Discharge by Partnerships, 793 16.23 Debt Discharge by S Corporations, 793 16.24 Exchange of Stock for Debt, 793 16.25 Purchase-Money Debt Reduction, 794 16.26 Tax Planning, 794 Corporate Reorganizations, 794 16.27 Introduction, 794 16.28 Tax-Free G Reorganization, 795 16.29 Personal Holding Company, 797 Availability of New Operating Losses, 797 16.30 Introduction, 797 16.31 Section 382 Limitation, 798 16.32 Special Rules for Corporations in Bankruptcy, 799 16.33 Other Provisions, 800 Effects on Earnings and Profits, 801 16.34 Introduction, 801 16.35 Account Adjustment, 801 16.36 Earnings and Profits Carryover, 801 Administrative Aspects of Taxes, 802 16.37 Tax Priorities, 802 16.38 Tax Penalty, 809 16.39 Interest, 810 16.40 Erroneous Refunds or Credits, 810 16.41 Chapter 11 Reorganization, 810 16.42 Chapters 12 and 13 Adjustments, 811 16.43 Tax Discharge, 811 16.44 Tax Preferences, 813 16.45 Tax Procedures, 813 16.46 State and Local Tax Provisions, 814 Appendix: Statement of Position 815 Statutes Citations 849 Case Index 855 Name Index 865 Subject Index 867
£126.00
John Wiley & Sons Inc Active Alpha
Book SynopsisPraise for Active Alpha Active alpha is the quest for every sophisticated investor. This book covers all of the key alpha sources currently mined by active managers, reduces the complexity of the subject, and helps the investor get started in the right direction. -Mark Anson, Chief Executive Officer, Hermes Pensions Management Ltd. Long-held traditional methods for investing large portfolios are giving way to new processes that are designed to improve productivity and diversification. These changes find their locus in the sometimes overly mysterious world of absolute return strategies. In this book, Alan Dorsey demystifies that new world and provides a guiding pathway into the future of professional portfolio management. This is an important read for any investor who plans to succeed going forward. -Britt Harris, Chief Investment Officer, Teacher Retirement System of Texas With great lucidity, Alan Dorsey''s book, Active Alpha, fills aTable of ContentsPreface xi Acknowledgments xv About the Author xvi PART ONE Alternative Investments and Investors CHAPTER 1 Introduction 3 Integration of Alternative Investments and Traditional Asset Classes through Factor Analysis 3 Approaches to Portfolio Construction 4 The Identification of Alpha and Beta in New Investment Strategies 5 What the Future Holds 8 Summary 8 CHAPTER 2 Investors in Alternative Investments and the Necessary Ingredients for a Successful Program 11 Types of Investors and Their Approaches to Alternative Investments 12 The Necessary Ingredients for a Successful Alternative Investment Program 18 Support from Investment Management Firms and Consultants 33 Investors Deciding to Minimize the Use of Alternative Investments 36 Summary 42 CHAPTER 3 Hedge Funds 43 Performance and Diversification Attributes 43 Market Segmentation 47 Hedge Fund Strategies 47 The Construction of a Segregated Portfolio of Hedge Funds 69 Summary 74 CHAPTER 4 Private Equity 77 Performance and Diversification Attributes 77 Dispersion of Returns 83 Private Equity Strategies 85 The Construction of a Segregated Portfolio of Private Equity 95 Summary 97 CHAPTER 5 Real Estate 99 What Is the Attraction? 99 Real Estate Strategies 104 The Construction of a Segregated Portfolio of Real Estate 114 Summary 123 CHAPTER 6 Currency, Commodities, Timber, and Oil and Gas 125 The Qualitative Determinants of Returns 125 The Attraction of Currency 127 The Attraction of Commodities 130 Currency and Commodity Strategies 132 The Attraction of Timber 136 Timber Strategies 139 The Attraction of Oil and Gas 140 Oil and Gas Strategies 142 The Construction of a Segregated Portfolio of Currencies, Commodities, Timber, and Oil and Gas 144 Summary 147 PART TWO Alternative Investments in Traditional Portfolios CHAPTER 7 The Migration of Hedge Funds into the Private Equity Realm 151 Are Hedge Funds Gaining Market Share from Private Equity? 152 How Well Suited Are Hedge Funds to Private Equity Investments? 157 The Power of Compounding: A Comparative Advantage for Private Equity 159 The Fee Differential between Hedge Funds and Private Equity 160 Alternative Investment Fee and Term Components 164 Summary 176 CHAPTER 8 Cash Flow Forecasting and Its Implications for Rebalancing 177 Alternative Investment Cash Flow 177 Asset Allocation: Achieving Policy Targets and Rebalancing 195 Cash Flow Forecasting Tools 199 Portfolio Rebalancing Tools 202 Summary 205 CHAPTER 9 Leverage and Portable Alpha 207 Leverage 208 Portable Alpha 213 What Is Portable Alpha? 213 The Benefits and Issues with Portable Alpha 218 Reevaluating the Premise for Portable Alpha 219 The Use of Hedge Funds in Portable Alpha 221 Alternative Thinking about Alpha 227 Summary 231 CHAPTER 10 Factor Analysis: The Rationale 233 Marketplace Changes that Warrant Factor Analysis 234 The Asset-Class Concept 236 Alternative Investments and Factor Analysis 241 Problems with Selecting Vehicles for Alternative Investment Portfolio Construction 243 Quantitative Building Blocks 244 Risk Budgeting Using Factors 249 Beyond Traditional Asset-Class Risk Budgeting 250 Qualitative Independent Variables 253 Illiquidity Factor 255 Summary 271 CHAPTER 11 Factor Analysis: The Findings and Discovering Active Alpha 273 Time Series Delineation and Issues 273 Mean-Variance Optimization 277 Problems Using Mean-Variance Optimization with Alternative Investments 294 Regression Analysis with Alternative Investment Factors 294 Regression Analysis Results and Observations 296 Problems with Conducting Regression Analysis on Alternative Investments 302 Factor Optimization 304 Active Alpha versus Passive Alpha 309 Problems with Factor Optimization 311 Synthetic Portfolios of Alternative Investments 312 Factor Measurement and Risk Monitoring 313 Summary 314 Appendix: Regression Methodology 316 Notes 347 Glossary 351 References 363 Index 369
£39.38
John Wiley & Sons Inc Trading Rules that Work
Book SynopsisTrading Rules that Work provides a blueprint for trading success by introducing readers to a set of rules that work for many styles of trading, risk tolerance, and emotional makeup. It details 28 positive rules for traders to follow and debunks numerous market aphorisms, such as buy low/sell high and dona t follow the crowd.Table of ContentsAcknowledgments. Introduction. PART I Getting in the Game. RULE #1 Know Your Game. RULE #2 Have a Trading Plan. RULE #3 Think in Terms of Probabilities. RULE #4 Know Your Time Frame. PART II Cutting Losses. RULE #5 Define Your Risk. RULE #6 Always Place a Protective Stop. RULE #7 Your First Loss Is Your Best Loss. RULE #8 Never Add to a Loser. RULE #9 Don’t Overtrade. PART III Letting Profits Run. RULE #10 Keep Good Records and Review Them. RULE #11 Add to Your Winners. RULE #12 Use Multiple Time Frames. RULE #13 Know Your Profit Objective. RULE #14 Don’t Second-Guess Your Winners. Part IV Trader Maxims. RULE #15 Know the Limits of Your Analysis. RULE #16 Trade with the Trend. RULE #17 Use Effective Money Management. RULE #18 Know Your Ratios. RULE #19 Know When to Take a Break. RULE #20 Don’t Trade the News. RULE #21 Don’t Take Tips. RULE #22 Withdraw Equity Regularly. RULE #23 Be a Contrarian. RULE #24 All Markets Are Bearish. RULE #25 Buy/Sell 50% Retracements. RULE #26 The Only Indicator You Need. RULE #27 Study Winning Traders. RULE #28 Be a Student of Yourself. Conclusion. Recommended Reading. About the Author. Index.
£34.00
John Wiley & Sons Inc Managers Guide to Compliance SarbanesOxley COSO
Book SynopsisCompliance requirements are here to stay. Prepare your company for the growing challenge. A Wall Street Journal/Harris poll revealed that two thirds of investors express doubts in the ability of corporate boards of directors to provide effective oversight.Table of ContentsPREFACE. ACKNOWLEDGMENT. Chapter 1: U.S. SOX Section 401: Off-Balance Sheet Arrangements. Chapter 2: U.S. SOX Section 404: Internal Controls. Chapter 3: U.S. SOX Section 406: Code of Ethics. Chapter 4: U.S. SOX Section 409: Real-Time Reporting of Material Changes. Chapter 5: U.S. SOX Impact on Privately Held Companies and Nonprofits. Chapter 6: U.S. SOX Impact on Small U.S. Companies. Chapter 7: U.S. SOX Impact on Foreign Companies. Chapter 8: U.S. Government’s Version of U.S. SOX: OMB Circular A-123. Chapter 9: U.S. Healthcare Efforts to Improve Internal Controls: U.S. HIPAA. Chapter 10: Bankers’ and Insurers’ Efforts to Improve Internal Controls. Chapter 11: Australia, Canada, and UK Efforts to Improve Internal Controls. Chapter 12: EU Efforts to Improve Internal Controls: OECD Principles. Chapter 13: Global GAAP (IFRS) and Global Reporting Language (XBRL). Chapter 14: Compliance and Internal Controls Impact on Outsourcing. Chapter 15: Civil and Criminal Penalties for Noncompliance. Chapter 16: Business Penalties for Noncompliance: A Material Weakness. Chapter 17: Revenue Recognition Requirements: U.S. SAB 101 and 104. Chapter 18: Data Retention Requirements. Chapter 19: Compliance and Internal Control Software. Chapter 20: Auditing Internal Controls. Chapter 21: Best Practices in Internal Controls: Enterprise Risk Management. Chapter 22: Best Practices in Internal Controls: IT Risk Management & SDLC (NIST 800-30). Chapter 23: Best Practices in Internal Controls: Mapping COBIT to COSO I, COSO II, & PCAOB. Chapter 24: Best Practices in Internal Controls: COBIT IT Control Objectives. Chapter 25: Best Practices in Compliance and Internal Controls: ASX 10 Principles. Chapter 26: Best Practices in Internal Controls: Segregation of Duties (SOD). Chapter 27: Best Practices in Internal Controls: Case Studies. Chapter 28: Best Practices in Compliance Project Management. Chapter 29: Best Practices in Governance and Ethics. Chapter 30: Costs versus Benefits and the Business Reaction. Appendix A: Frequently Asked P2P Questions. Appendix B: Links to Referenced Organizations and Documents. GLOSSARY. INDEX.
£58.50
John Wiley & Sons Inc Option Pricing Models and Volatility Using
Book SynopsisThis comprehensive guide offers traders, quants, and students the tools and techniques for using advanced models for pricing options. The accompanying website includes data files, such as options prices, stock prices, or index prices, as well as all of the codes needed to use the option and volatility models described in the book. Praise for Option Pricing Models & Volatility Using Excel-VBA Excel is already a great pedagogical tool for teaching option valuation and risk management. But the VBA routines in this book elevate Excel to an industrial-strength financial engineering toolbox. I have no doubt that it will become hugely successful as a reference for option traders and risk managers. Peter Christoffersen, Associate Professor of Finance, Desautels Faculty of Management, McGill University This book is filled with methodology and techniques on how to implement option pricing and volatility models in VBA. The book takes an in-depth look iTable of ContentsPreface ix Chapter 1 Mathematical Preliminaries 1 Chapter 2 Numerical Integration 39 Chapter 3 Tree-Based Methods 70 Chapter 4 The Black-Scholes, Practitioner Black-Scholes, and Gram-Charlier Models 112 Chapter 5 The Heston (1993) Stochastic Volatility Model 136 Chapter 6 The Heston and Nandi (2000) GARCH Model 163 Chapter 7 The Greeks 187 Chapter 8 Exotic Options 230 Chapter 9 Parameter Estimation 275 Chapter 10 Implied Volatility 304 Chapter 11 Model-Free Implied Volatility 322 Chapter 12 Model-Free Higher Moments 350 Chapter 13 Volatility Returns 374 Appendix a A VBA Primer 404 References 409 About the CD-ROM 413 About the Authors 417 Index 419
£67.50
John Wiley & Sons Inc Carbon Finance
Book SynopsisPraise for Carbon Finance A timely, objective, and informative analysis of the financial opportunities and challenges presented by climate change, including a thorough description of adaptive measures and insurance products for managing risk in a carbon constrained economy. James R. Evans, M. Eng. P. Geo., Senior Manager, Environmental Risk Management, RBC Financial Group Climate change will have enormous financial implications in the years to come. How businesses and investors respond to the risks and opportunities from this issue will have an enormous rippling effect in the global economy. Sonia Labatt and Rodney White''s insights and thoughtful analysis should be read by all who want to successfully navigate this global business issue. Andrea Moffat, Director, Corporate Programs, Ceres In Carbon Finance, Labatt and White present a clear and accessible description of the climate change debate and the carbon market that is developing.Trade Review"A clear assessment of the carbon market and financial products being developed to help address the threat of climate change." (Ethical Corporation Magazine, May 2007)Table of ContentsForeword iii About the Authors xiii Acknowledgments xv List of Acronyms xvii Chapter 1 Introduction 1 Introduction 1 The Changing Climate 3 The Scientific Context of Climate Change 5 The Political Context of Climate Change 8 Corporate Climate Risk 11 Regulatory Risk 11 Physical Risks 13 Business Risks 14 Climate Policies 15 Mitigation Policies 15 Adaptation Measures 19 Role of the Financial Services Sector 21 Conclusion 23 Chapter 2 The Energy Chain 27 Introduction 27 The Energy Chain and the Value Chain 28 Carbon Policies 32 Policy Approaches 32 The Broader Policy Context 33 National and Local Self-Sufficiency 33 Impacts of Different Users and Uses on Climate Change 34 Users: Business, Households, and Government 34 Uses: Manufacturing, Transportation, Heating, Water, and Solid Waste 34 Sources of Energy: Fossil Fuels 36 Coal 36 Oil 37 Gas 38 Sources of Energy: Nuclear Energy 39 Sources of Energy: Hydroelectric Power 41 Sources of Energy: Renewables 42 Traditional Biomass 44 Wind Energy 44 Solar Energy 46 Tidal Energy and Wave Energy 47 Modern Biomass and Biofuels 48 Geothermal Energy 50 Key Issues 50 A Hydrogen Economy Based on Fuel Cells? 51 Carbon Sequestration 52 Unintended Discharges 53 Financing the Transformation of the Energy Chain: The Role of Venture Capital 53 Conclusion 55 Chapter 3 Regulated and Energy-Intensive Sectors 57 Introduction 57 Power Industry 57 Integrated Oil and Gas Industry 65 Government Mandates 65 Physical Capital 66 Restricted Access to Oil and Gas Reserves 66 The Coming Age of Gas, and Beyond 68 Global Concerns Regarding Energy Security 70 Transportation 71 Automotive Industry 72 Factors Affecting Auto Manufacturers’ Carbon Profile 76 Aviation 80 Cement 82 Competitive Implications of Climate Risk in Regulated and Energy-Intensive Sectors 84 Conclusion 87 Chapter 4 The Physical Impacts of Climate Change on the Evolution of Carbon Finance 89 Introduction 89 Physical Impacts on Unregulated Sectors 90 Water Supply and Treatment 90 Agriculture 92 Forestry 94 Fisheries 96 Real Property and Production Facilities 96 Transportation 97 Tourism 97 Municipalities 98 The Built Environment 100 Physical Impacts on Carbon-Regulated Sectors 103 Electric Power 103 Oil and Gas Producers 104 Financial Services 105 Banking 105 Investment 106 Insurance 106 Conclusion 108 Chapter 5 Institutional Investors and Climate Change 111 Introduction 111 Institutional Investors: Size and Global Reach 112 Environmental Reporting 112 Corporations 112 Institutional Investors 113 Corporate Environmental Reporting 113 New Era of Fiduciary Responsibility for Institutional Investors 116 Investment Decision Making 117 Active Engagement 118 Shareholder Resolutions and Proxy Voting 120 Mutual Funds 122 New Momentum in the Corporate World 125 Barriers to the Financial Consideration of Climate Change 127 Institutional Investors and Climate Change 130 Institutional Investors’ Group on Climate Change (IIGCC) 131 Carbon Disclosure Project (CDP) 131 The Equator Principles 134 Investor Network on Climate Risk (INCR) 135 Conclusion 135 Chapter 6 Emissions Trading in Theory and Practice 137 Introduction 137 How Carbon Is Traded Now 140 The Kyoto Protocol 140 The Chicago Climate Exchange 143 The European Union Emission Trading Scheme 143 The Price of Carbon in the EU ETS 148 Countries outside Europe with Kyoto Caps 150 Carbon Markets in the United States and Australia 151 Setting up the Clean Development Mechanism and Joint Implementation 153 The Role of Carbon Funds, Carbon Brokers, and Exchanges 156 Key Issues 159 Verification—Protocols for Measuring Emission Reductions 159 Controlling the Sale of ‘‘Hot Air’’ 160 The Quality and Price of Carbon Credits 161 Enforcing Compliance 161 Integrating the Various Trading Platforms 162 The CDM Bottleneck 162 Extending the Time Horizon beyond 2012 163 Extending Carbon Caps to Uncapped Parties 163 The Carbon Offset Market 164 The Role of Insurance in Emissions Trading 165 Issues for Dispute Resolution 166 Conclusion 166 Chapter 7 Climate Change and Environmental Security: Individuals, Communities, Nations 169 Introduction 169 Direct Effect of Extreme Weather Events 170 Health Effects of Climate Change 173 Direct Effects of Temperature Extremes: Heat Waves and Cold Spells 174 Indirect Effects of Climate Change: Vector-Borne Infectious Diseases 175 Polar Regions 179 Climate Systems and National Sovereignty 181 The Gulf Stream and the Thermohaline Current 181 The El Niño/Southern Oscillation (ENSO) 183 Conclusion 185 Chapter 8 Adapting to Adverse and Severe Weather 187 Introduction 187 Adverse Weather: The Role of Weather Derivatives 188 Weather Derivative Instruments 191 Examples of Weather Derivative Contracts 192 Current Status of Weather Markets 193 Constraints on the Weather Derivatives Market 196 Severe Weather: The Role of Catastrophe Bonds 198 The Structure of a Catastrophe Bond 199 Catastrophe Bonds and Carbon Finance 200 Conclusion 201 Chapter 9 Key Players in the Carbon Markets by Martin Whittaker, guest author 205 Introduction 205 Basic Elements of the Market 206 EU ETS Trading 206 Clean Development Mechanism (CDM) and Joint Implementation (JI) Projects 207 Intermediaries, Speculators, and Professional Services 208 Key Private-Sector Players 210 Compliance Participants 210 Commercial Banks 210 Carbon Funds 211 Speculative Investors 211 Project Developers and Aggregators, Consultants 213 Equity Research 213 Carbon Brokers 215 Exchanges 216 Credit Rating Agencies 217 Insurers 217 Key Players from the Public Sector 218 National Governments 218 National Business Associations 219 Multilateral Banks 219 Information Services 220 Professional Services 221 Accounting 221 Legal 221 New Horizons for the Carbon Market 222 Carbon as an Asset Class 222 Mainstreaming into Project Finance 222 Conclusion 223 Chapter 10 Carbon Finance: Present Status and Future Prospects 225 Introduction 225 Trading Volumes in Carbon and Weather Markets 227 Carbon Markets 227 Weather Derivatives 228 What Can Be Traded Where? (and What Cannot?) 229 Price Discovery 230 The Evolution of Products for Carbon Finance 231 Litigation over Responsibility for Climate Change 232 Is Carbon Finance Likely to Help Us Avert Dangerous Levels of Climate Change? 234 Carbon Finance within the Broader Field of Environmental Finance 235 Conclusion 237 Endnotes 241 Web Sites 245 References 247 Index 263
£54.00
John Wiley & Sons Inc The Investment Banking Handbook
Book SynopsisThis edited volume offers thorough coverage of the business of investment banking, including much inside information based on the extensive professional experience of the contributors. Comprising 32 chapters, covering every facet of investment banking, from its historical origins in the U.S.Table of ContentsInvestment Banking Competition: An Historical Sketch (S. Hayes,et al.). Global Market Integration (F. Fisher). Bank ``Uniqueness'' and the Securities Activities of CommercialBanks (A. Saunders). Investment Banking: Commercial Banks' Inroads (S. Hayes). Investment Banking at Bankers Trust Company (D. Dougherty). Investment Banking at Chase Manhattan (H. Platzman). Attracting Corporate Clients (C. Ellis). Evaluating the Advice of Investment Bankers (J. Stern). Private Placements (C. Wolf). Initial Public Offerings (D. Logue). Financing High Technology, Emerging Growth Companies (A. Towbin& J. Williamson). Innovative Instruments and Transactions (T. Arnold). Commercial Paper (S. Kirmse). The Tax-Exempt Securities Market (R. Forbes). Innovations in Tax-Exempt Finance (R. Forbes). The Impact of Tax Reform on the Tax-Exempt Securities Market (R.Forbes). Real Estate Finance (P. Kazilionis). Investment Bankers in the Mortgage Markets (L. Goodman). Leveraged Buyouts (W. Law). Venture Capital Financing (C. Hazen). Securities Markets and Investment Banking in Japan (T.Kamijo). The Competitive Setting of Investment Banking in Canada (C.Potter). Securities Firms in Canada (D. Shaw). Securities Markets and Investment Banking in the U.K. (T.Rybezynski). Sales and Trading (J. Freeman). The Economics of Brokerage (P. Frank). A New Product for the Brokerage Industry: Call It Anything butDiscount Brokerage (E. Johnson). Perspectives on Clearing (V. Burger). Investment Management in an Investment Banking Firm (J.Gustafson). Mergers and Acquisitions (J. Williamson).
£346.50
John Wiley & Sons Inc Derivatives the Wild Beast of Finance
Book SynopsisSince the 1980s there has been an explosion in derivatives trading. Derivatives have often been seen as the villain, responsible for some of the most newsworthy financial disasters, including Barings Bank. This text offers a view that derivatives are an effective and acceptable investment medium.Table of ContentsPreface to the Revised Paperback Edition Introduction Part I A Look Back 1 Evolution of Finance Venice, April 1470 1 The functions of finance 2 The first step towards managing financial risk: diversification and collateral 3 The second step towards managing financial risk: limited liability, bankruptcy laws, seniority rules, balance-sheet structure 4 The third step towards managing financial risk: creating tradable instruments and liquidity in organised markets 5 The final step towards managing financial risk: derivatives and financial engineering 6 Could the acceleration in financial innovation since 1970 have been predicted? 7 Conclusion Notes 2 The Americanisation of Global Finance Minnesota Banc Corporation 1 The emergence of the American model of finance 2 The crowning achievement: risk-management finance 3 Maintaining market liquidity: the sine qua non of the "American model" 4 Global finance: the result of exporting the "American model" 5 Conclusion Notes 3 Dramatic Events How George Soros sees it 1 The EMS crisis of 1992-93 2 Metallgesellschaft: in the red or in the black? 3 Barings: victim of high-leveraged speculation and loose controls 4 Bankers Trust: caveat emptor 5 David Askin: the fallen star of the mortgage-backed securities sky 6 Instability in emerging markets: Mexican tequila 7 Hedge funds and the collapse of LTCM 8 Conclusion Notes Part II Derivatives and Their Markets 4 The Revolution in Risk Management Farming for the future 1 What can derivatives achieve? 2 Price discovery and volatility 3 Is risk management a fundamental corporate objective? 4 Risk management: science or fad? 5 Risk management: some examples 6 Conclusion Notes 5 Mutualisation of Risk on Exchanges Chicago's other side 1 Evolution of exchange-traded financial derivatives 2 Organisation of the exchanges 3 What makes a successful exchange-traded contract? 4 New product developments on the exchanges 5 Exchanges for a global market 6 Conclusion Notes 6 Customised Risk Management in OTC Markets How to lose money on a long put when markets crash 1 Market developments 2 Significant bank involvement 3 Contagion risk 4 Regulatory inadequacies for the specificities of OTC markets 5 New developments 6 Conclusion Notes Part III Public Policy Options 7 Are Derivatives a Threat to Global Financial Stability? The global financial crash of October 2002 1 Systemic risk illustrated with the crises in Asia and Russia 2 Derivatives: the dynamite for financial crises 3 Global derivative finance: the fuse for contagion 4 Conclusion Notes 8 Challenges for the Established Financial Order The butterflies of finance 1 The classical paradigm of financial policy 2 Paradise lost 3 Reducing systemic risk: the Basle approach 4 Conclusion Notes 9 A Financial Policy Model for the Next Century The challenge of global money 1 Reform of the international financial system 2 The architecture for regulatory rethinking 3 Risk management through clearing-houses 4 Phasing out the banking franchise and institutional regulation 5 Redefining the relationship between central banks and financial intermediaries 6 Conclusion Notes Part IV A Look into the Future 10 Derivatives: the Future of Finance Antofagasta (Chile), summer of 2020 1 The ascent of institutional investors 2 Ownership and corporate governance 3 Macro futures 4 Real estate futures 5 The end of banking? 6 Conclusion Notes 11 Conclusions 1 The origin of the species 2 OTC versus exchange-traded contracts 3 Americanisation of global finance 4 Risk management: one of the most important innovations of the 20th century 5 Work of the devil or social benefit? 6 Financial structure in the 21st century 7 Shifts of power 8 Crystal ball gazing Glossary References Index
£41.80
John Wiley & Sons Inc Managing Bank Capital Capital Allocation
Book SynopsisManaging Bank Capital explains proven techniques available in the management of bank capital that will help maximize shareholder value. This second edition has been fully updated to incorporate significant developments, such as the modeling of credit risk, and includes new sections with more technical information and advanced analysis.Table of ContentsIntroduction: Capital Allocation in Banking. THE ROLE AND DEFINITION OF CAPITAL. The Role of Capital. Capital-Based Management Techniques. THE TREASURER'S PERSPECTIVE. Managing the Available Capital Base. Capital Instruments. Capital Allocation versus Capital Investment. THE REGULATOR'S PERSPECTIVE. Regulatory Capital Requirements. The Basel Accord. Current Problems and Future Developments: Towards an Internal-Models Based Approach? THE RISK MANAGER'S PERSPECTIVE. Asset Volatility as a Capital Allocation Tool. Modelling Market Risk. Modelling Credit Risk. Modelling Operational and Other Risks. THE SHAREHOLDER'S PERSPECTIVE. Earnings-at-Risk as a Capital Allocation Tool. Modelling Earnings-at-Risk. AN HOLISTIC APPROACH TO CAPITAL MANAGEMENT. Implementing Capital Allocation Policies and Procedures. Economic Profit and Shareholder Value. Determining the Cost of Capital: A Stock Market Perspective. Practical Issues in Implementation. CONCLUSION. Glossary of Terms. Index.
£94.50
John Wiley & Sons Inc Operational Risk Measurement Modelling
Book SynopsisThis work brings together various theories and models in operational risk, presenting them in the context of real-life case studies. It seeks to be both a sourcebook of operational risk techniques and a user manual on how to apply them.Table of ContentsPreface. Acknowledgements. INTRODUCTION TO OPERATIONAL RISK. Introduction to Operational Risk. Historical Losses. Regulation. MEASURING OPERATIONAL RISK. A Measurement Framework for Operational Risk. The Delta Methodology. The EVT Methodology. MODELLING OPERATIONAL RISK. Delta-EVT(TM) Models for Operational Risk. Causal Modelling. Causal Models for Operational Risk. MATHEMATICAL FOUNDATIONS. Error Propagation. Extreme Value Theory. Bayesian Methods. APPENDICES. Glossary. Bibliography. Index.
£103.50
John Wiley & Sons Inc International Commodity Trading
Book SynopsisIn addition to discussing financial and commodity futures and options, this book links them to the physical economy at large, a linkage which is particularly important when one is thinking of physical commodity markets. The book looks at not only the futures of derivative markets, but it also explores the physical markets and the underlying economy. l Written by leading authors in the field of commodity markets l Contains numerous up-to-date examples, case studies, and scenarios to assist in gaining an overall understanding l Covers all aspects of commodity trading, including the inter-relationship between the different functionsTrade Review" useful addition to the library of anyone interested in entering the commodities markets, or indeed already involved in them..." ----Lloyda s List, 21st April 2001Table of ContentsPreface. Foreword. Acknowledgements. Physical Commodity Markets: An Overview. Commodity Futures. Options. Exotic Options and Other Over-the-Counter Products. International Commodity Markets: The Management of Information. Commodities, Market Finance, and Corporate Finance. The Management of Physical Commodity Contracts. The Actors of Commodity Trading. Conclusion: International Commodity Trading--Problems and Prospects. Index.
£90.25
John Wiley & Sons Inc European Cash Management
Book SynopsisIf you are involved with an organisation that has not undertaken a recent review of its cash management with expert advice there is a high probability that your organisation is not maximising its resources. In European Cash Management Marie Dolfe and Anna Koritz draw on their extensive international experience in advising multi-national corporations to give clear practical advice on: * how to formulate an effective cash management strategy * how to increase profitability * how to maximise shareholder value * recent developments and best current practice * how to conduct a cash management study * how to implement efficient procedures and support systemsTrade Review"...it serves as a useful reference guide or as an introduction to newer members of the treasury team." (Corporate Finance)Table of ContentsWhat is cash management and why is it important? Trends in cash management The inflow of funds to the corporation The outflow of funds from the corporation Clearing, payments and receipts Introduction to cash pooling Efficient international bank account management Active liquidity management From vision to contract Successful implementation Index
£90.25
John Wiley & Sons Inc Physics of Finance Gauge Modelling in
Book SynopsisOne of the newest and most controversial approaches to financial pricing. In Physics of Finance the author applies the methods of theoretical physics to financial economics to develop an altogether original method for pricing financial assets that steps outside the equilibrium paradigm in finance.Trade Review"Illinskia s book is well written and well produced"... (Quantitative Finance, July 2001)Table of ContentsPreface. Introduction. Fibre Bundles in Finance: First Contact. Fibre Bundles: Mathematics. Fibre Bundles: Physics. Fibre Bundles in Finance: Gauge Field Dynamics. Dynamics of Fast Money Flows: I. Dynamics of Fast Money Flows: II. Virtual Arbitrage Pricing Theory. Derivatives. Conclusions. Glossary. References. Index.
£104.50
John Wiley & Sons Inc Handbook of Hybrid Instruments Convertible Bonds
Book SynopsisHybrid instruments are bonds or stocks with a fixed-rate of interest or dividend that can be traded on the open stock market for shares.Table of ContentsList of Contributors About the Contributers Introduction 1.1 General 1.2 Importance of Adequate Analysis 1.3 Description of the Chapters 1.4 Summary 1 Hybrid Instruments: Advantages and Disadvantages, Badari S. Ewar 1.1 Introduction 1.2 What is a Convertible Bond? 1.3 The Issuer 1.4 The Investor 1.5 Terminology 1.6 Convertible Instruments 1.7 Summary 2 Convertible Structures: Evolution Continues, T. Anne Coxe 2.1 Convertible Bonds and Preferreds: Hybrid Vigor 2.2 LYONs: A Breed Apart 2.3 TOPrS: Preferreds made Better 2.4 MIPS: Predecessor to TOPrS 2.5 PERCS and Their Relatives 2.6 PRIDES: Equity for Income Lovers 2.7 Variations on a Theme: Product Innovations Abound 2.8 Convertible Glossary 3 The Life Cycle of Convertibles and Warrants, William T. Moore 3.1 Issuance of Warrants and Convertibles 3.2 Calling Convertibles and Warrants 3.3 When should Warrants and Convertibles be Called? 3.4 What Happens to Firm Value when Firm Force Conversion or Exercise? 3.5 Assessing the Value of the Call Provision in Theoretical Models 3.6 References 4 Derivative Data, John Poignand 4.1 Introduction 4.2 Section One: The Convertible Bond and Convertible Preferred 4.3 Section Two: Conversion and Related Data 4.4 Section Three: Calculated Data 5 The Value Line Experience with Convertibles, Lawrence Cavanagh 5.1 Value Line's Convertible Indexes and Market Profiles 5.2 The Performance of Value Line's Recommended Convertibles 5.3 Summary 5.4 Endnotes 6 Hybrid Instruments: A Tax Planning Synopsis, Linda E. Carlisle 6.1 Fundamental Economic Characteristics of the Instruments 6.2 Three Forms of Transaction 6.3 Objectives 6.4 Open Issues 6.5 Conclusions 7 Mandatory Convertible Reset Structures, Colum McCoole 7.1 Introduction 7.2 Origins of the Japanese Bank Reset Market 7.3 Glossary of Key Terms 7.4 Mechanics of the Reset 7.5 Valuing Mandatory Convertible Resets 7.6 Evolving into an Equity Proxy 7.7 Trading Behavior of Mandatory Reset Structures 7.8 Negative gamma Becoming Part of the Vocabulary 7.9 Conclusions 7.10 Appendix 8 Japanese Reset Convertible Bonds and Other Advanced Issues in Convertible Bonds, Izzy Nelken 8.1 Introduction 8.2 The Reset Feature 8.3 Modeling of Reset Convertibles 8.4 Two More Interesting Points to Related to Convertible Securities 9 A Dictionary of Terms Related to Hybrid Instruments, Gary Gastineau and Mark Kritzman Appendix: ConvB CD ROM Installation Guide Index
£99.00
John Wiley & Sons Inc Double Takes Wiley Investment Hardcover
Book SynopsisThis text of investment wisdom spans four decades of articles from the "Professional Investor" journal and its predecessor. The articles are topical, having been selected for their particular interest in the contemporary investment climate.Table of ContentsIntroduction The 1960s Computers as an aid to investment. (J. G. Blease) Economic forecasting and investmetn analysis. (J. G. Morrell) Personal saving and business profit. (Roy Harrod) Possible worlds. (Richard Stone) The investment analyst's materials (R.E. Artus) Taxation, investment, and equities under a labour Government. )A.J. Merrett & Allen Sykes) Random walks in stock market prices. (Eugene F. Fama) Security price behaviour. (A.G. Ellinger) Investment analysis - the need for professionalism. (R.J.Briston) The value of research into the behaviour of share prices. (R. A. Brealey) The 1970s Econometric models and the stockmarket. (R.D. Nightingale & Dr K. Vernon) Monetary policy, gilts and equities. (A.A. Walters) The trustees' meeting - a city daydream.( J.M. Brew) The role of the institutions in the UK ordinary share market. (J.H.C. Leach) What are earnings, anyway? (J.N. Littlewood) Should investors be responsible? (Sandra Mason) Investment pricing in the North Sea. (Paul H. Richards) The UK stockmarket and the efficient market model - a review. (A. W. Henfrey, B. Albrech & P. Richards ) The 1980s The wrongs of rights. (Barry Riley) The wrongs of rights - a reply. (S. P. Keef) The current and future role of stockbroker. (George J. J. Dennis) The UK economy in the declining oil years. (Gavyn Davies) The missing link. (J.A. Miller) Macroeconomic forecasting models and investment analysis: a review. (Paul Stonham) Investor protection and the advertising practices of share tipsters. (Simon M. Kean) Group accounting, funds statements and cash flow analysis. (T.A. Lee) Why most equities always appear cheap. (Peter Thompson) The 1990s Volatility and the big bang factor. (Peter Pope, David Peel and Pradeep Yadav) Goodwill to all men? (Alan Sugden and Geoffrey Holmes) Economic policy. (Wynne Godley) The money-go-round. (Tim Congdon/ Alan Sugden) The rewards of virtue? (Russell Sparkes) Adjusting to uncertainty. (Daniel Broby) Buying growth shares using value filters. (Jim Slater) Asset allocation: too important to be left to money managers. (Stuart Fowler) Intellectual property. (Shonaig Macpherson) Underestimated and undervalued. (John Newlands) Brands and the balance sheet. (Jonathan Knowles)
£37.95
John Wiley & Sons Inc Loan Workouts and Debt for Equity Swaps
Book SynopsisThe key to a successful loan workout is to identify the problemsaccurately and address them early. It is critical that thecompany''s underlying business and financial problems are resolvedand not merely the symptoms. Loan Workouts and Debt for Equity Swaps examines how a successfulloan workout can be managed. It detail the processes andparticipants involved, whilst providing frameworks and practicalstep- by-step approaches that allow for a coherent and cohesivepolicy to give the best possible chance of success. The bookassists in the ultimate aim of providing a firm base for the futurehealth of the company involved and maximizing the lenders'' returns.This work is not merely restricted to companies and banks involvedin the process, but other important participants in loanworkouts. Areas featured in the book are: * What loan workouts are and why they are needed * Non-performing loans related strategies, organization andsystems * Participants involved in loan worTrade Review"The book is needed quite simply because there is a dearth of information on corporate restructuring. At present the number of receiverships is going down and the emphasis is on workouts. In this respect the book is very timely.", , , #"I", , , #Table of ContentsForeword by David Wilson Havelock. INTRODUCTION AND BACKGROUND. Introduction. Loan Workouts: What They are and Why They are Needed. STRATEGY, PARTIES AND THE PROCESS. A Framework for Managing Non-Performing Loans. Organisation and Systems Relating to Non-Performing Loans. Managing Loan Workout Transactions. The Company. The Banks. Other Key Participants in Loan Workouts. External Advisors. A Framework for Executing Loan Workouts. Turning Around a Business. The Information Gathering and Review Process. Exploring Loan Workout Options. Evaluating Restructuring Options and Developing Proposals. Negotiating and Completing Transactions. THE MORATORIUM AND FINANCIAL RESTRUCTURING. Establishing a Moratorium. Financial Creditors Affected by a Moratorium The Operation of Facilities in a Moratorium. The Concept of Loss-Sharing. Multi-Currency Considerations. Financial Restructuring. Inter-Creditor Provisions in a Financial Restructuring. Other Terms and Conditions. Introduction to Debt for Equity Swaps. Transaction Approach. Equity Instruments. Other Transaction Parameters. Other Technical Issues. CASE STUDY. Project Gloucester. Index.
£104.50
John Wiley & Sons Inc Financial Management Real Options
Book SynopsisCovers financial management with an international focus. Written by a noted corporate finance specialist, this book assists operating managers in attaining the financial objectives of their companies and reporting financial results to owners, creditors, and employees.Table of ContentsPreface. Part 1 Financial Management and Corporate Governance. Financial Management and Corporate Governance. Fundamental Methods of Financial Analysis. An Introduction to Corporate Debt and Equity. Shareholder Value in Efficient Markets. Part 2 Valuation of Investment and Real Options. An Introduction to the Appraisal of Capital Projects. Pitfalls in Project Appraisal. Further Project Appraisal Methods. Appraising Projects with Real Options. Valuing Interrelated Real Options. Valuation of Companies with Real Options. Mergers and Acquisitions. Part 3 Financial Structure. Portfolio Theory and Asset Pricing. Calculating the Cost of Capital. Long-term Financing. Dividend Policy. Divident Policy. Part 4 Solvency Management. Lease Finance. Financial Planning and Solvency. Managing Debtor Risk. Managing Inventory Risk. Managing Interest and Exchange Rate Risks. Part 5 International Investment. Appraising International Capital Projects. Present Value Tables. Probability Table. INdex.
£51.25
John Wiley & Sons Inc Dynamic Technical Analysis
Book SynopsisGets traders and investors up to speed on the hottest new approach to predicting the markets One of the most talked--about new forecasting tools in todaya s international markets, dynamic technical analysis (DTA) arms traders and investors with unprecedented insights into market volatility, price changes, and market trends.Table of ContentsForeword. Preface. Acknowledgements. Introduction. Methodolgy. Indicators Used with DTAFM(r). Strongly Trending Market: Parallels and Bubble. Aids to Analysis. How to Take a Position. Tracking a Position and Unwinding It. Implementation. Index.
£85.50
John Wiley & Sons Inc Hedge Funds
Book SynopsisThis title looks at the workings of hedge funds showing their successes and failures. Well known hedge funds are scrutinized through research and interviews with fund managers, consultants, regulators, and central banks.Table of ContentsAcknowledgements. Courtesans of Capitalism. Masters of the Universe. Speculators and Hedgers. Rogues, Philosophers and Philanthropists. The Archimedes of Greenwich. Toxic Waste and Vultures. Highwaymen of the Global Economy. The Hedge Fund in Your Bank. Finance's Four-Letter Word. Dance of the Seven Veils. Attaining Respectability. Taming Archimedes. Bibliography. Index.
£57.00
John Wiley & Sons Inc International Financial Market Investment
Book SynopsisAims to familiarize a broad audience with the range of securities available in Europe. Using basic terminology, the text explains the fundamentals of pricing, as well as risk analysis, for bonds, shares and exchange rates. It illustrates the use of these basics for portfolio management.Table of ContentsBonds. Equities. Exchange Rate Theory. The Theory of Efficient Markets. The Fundamentals of Modern Portfolio Theory. The Process of Investment Policy Decision Making: Attempting a Synthesis. Concluding Remarks.
£112.50
John Wiley & Sons Inc International Money and Foreign Exchange Markets
Book SynopsisRecent changes in foreign exchange markets will dramatically affect the manner in which international business will be conducted over the next decade. This textbook explores the implications of these changes and provides students with guidance on financial management issues.Table of ContentsMoney Markets. Euromarkets and Foreign Exchange. The Euromarkets and Global Financial Integration. Links Between Foreign Exchange and Money Markets. The International Financial System. European Monetary Union. Efficient Markets--or Chaos? Forecasting the Markets. Money and Foreign Exchange Mechanics. Financial Futures. Interest Rate and Currency Swaps. Options. Risk Issues. Further Reading. Index.
£52.25
John Wiley & Sons Inc The Manager and the Internal Auditor
Book SynopsisManagers need auditors. There are more risks in running an organization than ever before ? whether it be in the public, private or non-profit sector. With the break-up of the state sector, the ambiguous intermediary role of ?not for profit? organizations, and turbulence in the marketplace through mergers, acquisitions and divestments, the seeds are sown for chaos and a culture in which fraud can flourish. Notorious corporate collapses such as BCCI, Maxwell Communications Corporation and Barings are cases in point. An updated and revised version of the auditing classic The Manager and The Modern Internal Auditor, first published in 1979, this new book highlights the necessity of establishing internal control in organizations and illustrates how internal audit can be a highly effective means to avoid corporate disaster. The authors present a proven formula for organizational success through the joint workings of managers and internal auditors as partners for profit, growth and sustainabiTable of ContentsTRENDS IN INTERNAL AUDITING AND PROFESSIONAL MANAGEMENT. Meeting a Management Need. The Internal Auditor: Management Assistant. The Development of Modern Internal Auditing. Classical Management Theory--Links with Modern InternalAuditing. Management, Managers and Internal Auditors. Managing Chaos--The Art of the Impossible? Patterns of Behavior. THE SKILLS OF MANAGEMENT. Decision Making. Communications. Measurement and Evaluation. Scientific Methods. THE PROCESS OF MANAGEMENT. Planning and Budgeting. Organizing. Directing. Controlling. Appendices.
£63.60
John Wiley & Sons Inc Forecasting Financial Markets
Book SynopsisToday s financial markets are characterised by a large number of participants, with different appetites for risk, different time horizons, different motivations and reactions to unexpected news.Table of ContentsPartial table of contents: MODELLING WITH HIGH FREQUENCY DATA. Forecasting Foreign Exchange Rates Subject to De-Volatilization (B.Zhou). Dynamic Strategies: A Correlation Study (E. Acar & P.Lequeux). THE INFORMATIONAL CONTENT OF VOLATILITY MARKETS. Using Option Prices to Estimate Realignment Probabilities in theEuropean Monetary System (A. Malz). Efficiency Test with Overlapping Data: An Application to theCurrency Options Market (C. Dunis & A. Keller). APPLICATIONS OF NEURAL NETWORKS AND GENETIC ALGORITHMS. The Use of Error Feedback Terms in Neural Network Modelling ofFinancial Time Series ( A. Burgess & A. Refenes). An Evolutionary Algorithm for Portfolio Selection within a DownsideFramework ( A. Loraschi & A. Tettamanzi). Index.
£104.50
John Wiley & Sons Inc Options Futures and Exotic Derivatives
Book SynopsisOver the past two decades, the mathematically complex models of finance theory have had a direct and wide-ranging influence on finance practice. Nowhere is this conjoining of intrinsic intellectual interest with extrinsic application better exemplified than in derivative-security pricing. The backgrounds of the authors of Options, Futures and Exotic Derivatives fit perfectly this pattern of combining theory and practice and so does their book. The range and depth of subject matter show excellent taste for what is essential to know the field and what is relevant and important to its application in the financial world. In addition to its fine subject-defining, the book delivers on subject-content, with rigorous derivations presented in a clear, direct voice for the serious student, whether academic or practitioner. To the reader: Bon Appetit! Robert C. Merton, Harvard Business School Long-Term Capital Management, L.P. One of the merits of this book is that it is self-contained. It is botTable of ContentsSecurities Markets, Financial Innovation and the Trading Activity. The Dynamics of Assets and Derivative Assets Prices. Applications to Asset and Derivative Asset Pricing in Complete Markets. Analytical European Models in Derivative Asset Pricing Theories and Their Applications. Application of European Analytical Models to the Valuation of American Options With and Without Dividends and Their Applications. Generalisation of Analytical Option Pricing Models to Stochastic Interest Rates and Their Applications. Applications and Generalisation of Analytical Models to Stochastic Volatilities and Interest Rates. The Lattice Approach and the Binomial Model. Numerical Methods and the Pricing of American Options.
£52.25
John Wiley & Sons Inc Interest Rate Modelling
Book SynopsisThis volume covers developments in the interest rate markets, with descriptions and implementation techniques for all the major classes of interest rate models. It covers those models already in practice, as well as theoretical models.Trade Review"Interest Rate Modelling is an encyclopedic treatment of interest rates and their related financial derivatives. It combines advanced theory with extensive and down-to-earth data analysis in a way which is truly unique. For practitioners, students and scholars in the field, this impressive wok will be the standard reference for years to come.", Professor Tomas Bjork, , Stockholm School of Economics#"...an excellent book. I am particularly pleased by its breadth and range of topics...the reader is provided with an informative and readable exposition.", Dr Farshid Jamshidian, , NetAnalytic#"I particularly like the strong emphasis on the practicalities and calibration of interest rate models. This book will be invaluable as a comprehensive reference to students, researchers, and practitioners.", Professor Francis Longstaff, , The Anderson School at UCLA#"This is a carefully written, scholarly but fascinating presentation of the field of Interest Rate Modelling. It combines the best of two worlds: the rigour expected from finance in acamedia with the relevance expected from finance in practice. James and Webber are truly masters of their market since this book is surely a must-buy for both researchers and practitioners. If only all finance books were written with this care and attention to detail.", Dr Neil Johnson, , Clarendon Laboratory, Oxford#"Today, interest rates are key economic instruments. This is a mammoth treatise and must surely rank as one of the most comprehensive available on the topic. Anyone interested in modelling or simulating the behaviour of interest rates, be they practitioner, economist, mathematician or new entrant to the subject, will find within a wealth of pertinent material.", Professor Peter Richmond, , Trinity College Dublin#Table of ContentsPart I: Introduction to interest rate modelling 1. Introduction to interest rates Interest rate behaviour; Basic concepts; Interest rate markets; Historical and current data; Uses of interest rate models; Conclusion 2. Interest rates in history Interest rates in monetary history; Characteristics of interest rate behaviour 3. Introduction to interest rate modelling Yield curve basics; Describing interest rate processes; Introducton to interest rate models; Categories of interest rate model; The role of the short rate 4. Interest rate models: theory Summary of valuation A theoretical market framework; Fundamentals of pricing; valuing by change of numeraire; Derivatives in the extended Vasicek model 5. Basic modelling tools Introduction to valuation; Introduction to estimation; Statistical tests; Yield curve stripping; The convexity adjustment 6. Densities and distributions The density function; Kernel methods; Boundary behaviour; Interest rate models at extreme values of interest rates; Tail distributions Part II Interest rate models 7. Affine models Affine term structure models; Interpreting the state variables; Types of affine model; Examples of one-factor affine models; Examples of n-factor affine models; A general framework for affine models 8. Market models and the Heath, Jarrow and Morton framework Introduction to the Heath, Jarrow and Morton model; Volatility functions in HJM; Market models; General market models 9. Other interest rate models Consol models; Price kernet models; Positive interest rate models; Non-linear models 10. General formulations of interest rate models Jump processes; Random field models; A general model; Jump models 11. Economic models Economics and interest rates An economically motivated financial model of interest rates; An IS-LM based model; IS-LM, hyperinflation and extended Vasicek; The general equilibrium framework; Interpreting the price kernel Part III Valuation methods 12. Finite difference methods The Feynman-Kac Equation; Discretising the PDE; Simplifying the PDE; Explicit methods; Implicit methods; The Crank-Nicolson method; Comparison of methods; Implicit boundary conditions; Fitting to an initial term structure; Finite difference methods in N dimensions; Operator splitting; A two-dimensional PDE; Solving a PDDE 13. Valuation: the Monte Carlo method The basic Monte Carlo method; Speed-up methods; Sampling issues; Simulation methods for HJM models 14. Lattice methods Introduction to lattice methods; Issues in constructing a lattice; Examples of lattice methods; Calibration to market prices; The explicit finite difference method; Lattices and the Monte Carlo method; Non-recombining lattices; Conclusions Part IV Calibration and estimation 15. Modelling the yield curve Stripping the yield curve; Fitting using parameterised curves; Fitting the yield curve using splines; Nelson and Siegel curves; Comparison of families of curves; Kernel methods of yield curve estimations; LP and regression methods 16. Principal components analysis Volatility structures; Identifying empirical volatility factors; Calibrating whole yield curve methods; Processes on manifolds; Analysis of dynamical systems; Conclusions 17. Estimation methods: GMM and ML GMM estimation; Implementation issues; The efficient method of moments (EMM); Maximum likelihood methods; Hierarchy of procedures 18. Further estimation methods Introduction; Filtering approaches to estimation; The extended Kalman Filter; GARCH models; Extensions of GARCH; Interest rate models and GARCH; Artificial neural nets (ANNs) 19. Interest rates and implied pricing Problems with interest rate models; Key relationships; The interest rate case; The implied pricing method; Regularisation functions; Patching tails onto pricing densities Afterword Notation Glossary of mathematical, market and model terms References Author Index Subject Index
£87.30
Wiley Successful Credit Control
Book SynopsisCredit managers control one of the largest assets many companies are likely to have - recoverable debt. This text aims to show how to improve a company's financial stability through an effective credit control framework.Table of ContentsThe Basic Principles of Credit Assessment. Creating Profitable Sales and Customer Care. Types of Business. The Unknown Customer. Making the Assessment. The Administration of the Sales Ledger/Credit Control Department. Training for Credit Management. Collecting the Outstanding Account. Thinking About Taking Proceedings. Exporting. Credit Insurance - Why Insure? Conclusion. Further Reading. Index.
£57.00
John Wiley & Sons Inc Beyond Value at Risk The New Science of Risk
Book SynopsisBeyond Value at Risk The New Science of Risk Management A Comprehensive Guide to Value at Risk and Risk Management Risk management and measurement are now, without doubt, the hottest topics in the finance world. Today, quantifying risk management is not only a management tool -- but is also used by regulators for banks and finance houses.Table of ContentsINTRODUCTION TO VAR. The Risk Management Revolution. VaR Basics. DIFFERENT APPROACHES TO MEASURING VAR. The Variance-Covariance Approach. The Historical Simulation Approach. Monte Carlo Simulation and Related Approaches. Stress Testing. RISK MANAGEMENT. Risk-Adjusting Returns and Evaluating Performance. Decision Making. Credit Risk. Liquidity, Operational and Legal Risks. Allocating Capital. Firm-Wide Risk Management. Glossary of Main Terms. Bibliography. Indexes.
£64.59
John Wiley & Sons Inc Pricing Convertible Bonds
Book SynopsisThe Convertible Bonds (CB) market is growing all the time. To date,over one trillion dollars worth of CBs are in circulation.Corporations are finding this source of fund-raising more and moreattractive. And for different reasons, the buyers are finding CBsincreasingly attractive investment vehicles. There are few works on the subject of pricing convertible bonds.Most books discussing derivative products cover all details ofpricing futures and options in minute detail. Convertible bonds andwarrants are usually mentioned as an after thought in the latterchapters. This is the first book to address the very complex issueof pricing convertible bonds. Kevin Connolly, Researcher of complex volatility trading for RefcoOverseas Ltd. and Lecturer at City University Business School andLondon Guildhall University, has put together an excellenttreatment of pricing convertible bonds, delving into topics suchas: * Returns distributions and associated descriptive statistics *Table of ContentsUsing Computer Spreadsheets. Returns Distributions and Associated Descriptive Statistics. Modelling the Share Price Process. The Basic Convertible Bond Model. Introducing the Complications. Convertible Bond Sensitivities. Using Equity Warrant Models to Price CBs. Refix Clauses. Appendix. Index.
£90.24
John Wiley & Sons Inc Handbook of Alternative Assets
Book SynopsisSince the first edition of the Handbook of Alternative Assets was published, significant events-from the popping of the technology bubble and massive accounting scandals to recessions and bear markets-have shifted the financial landscape. These changes have provided author Mark J. P. Anson with an excellent opportunity to examine alternative assets during a different part of the economic cycle than previously observed in the first edition. Fully revised and updated to reflect today''s financial realities, the Handbook of Alternative Assets, Second Edition covers the five major classes of alternative assets-hedge funds, commodity and managed futures, private equity, credit derivatives, and corporate governance-and outlines the strategies you can use to efficiently incorporate these assets into any portfolio. Throughout the book, new chapters have been added, different data sources accessed, and new conclusions reached. Designed as both an introduction to the woTable of ContentsPreface ix About the Author xi PART ONE Overview of Alternative Assets 1 CHAPTER 1 What Is an Alternative Asset Class? 3 CHAPTER 2 Why Alternative Assets Are Important: Beta Drivers and Alpha Drivers 15 PART TWO Hedge Funds 29 CHAPTER 3 Introduction to Hedge Funds 31 CHAPTER 4 Establishing a Hedge Fund Investment Program 71 CHAPTER 5 Due Diligence for Hedge Fund Managers 97 CHAPTER 6 Risk Management Part I: Hedge Fund Return Distributions 135 CHAPTER 7 Risk Management Part II: Additional Hedge Fund Risks 169 CHAPTER 8 Regulation of Hedge Funds 203 CHAPTER 9 Hedge Fund Benchmarks and Asset Allocation 229 CHAPTER 10 Hedge Fund Incentive Fees and the “Free Option” 251 CHAPTER 11 Top Ten Hedge Fund Quotes 265 PART THREE Commodities and Managed Futures 275 CHAPTER 12 Introduction to Commodities 277 CHAPTER 13 Investing in Commodity Futures 305 CHAPTER 14 Commodity Futures in a Portfolio Context 333 CHAPTER 15 Managed Futures 353 PART FOUR Private Equity 377 CHAPTER 16 Introduction to Venture Capital 379 CHAPTER 17 Introduction to Leveraged Buyouts 419 CHAPTER 18 Debt as Private Equity Part I: Mezzanine Debt 455 CHAPTER 19 Debt as Private Equity Part II: Distressed Debt 477 CHAPTER 20 The Economics of Private Equity 501 CHAPTER 21 Performance Measurement for Private Equity 523 CHAPTER 22 Trends in Private Equity 553 PART FIVE Credit Derivatives 577 CHAPTER 23 Introduction to Credit Derivatives 579 CHAPTER 24 Collateralized Debt Obligations 609 CHAPTER 25 Collateralized Fund Obligations: Intersection of Credit Derivative Market and Hedge Fund World 653 PART SIX Corporate Governance 667 CHAPTER 26 Corporate Governance as an Alternative Investment Strategy 669 Index 695
£56.00
John Wiley & Sons Inc Trend Trading
Book SynopsisWritten in a straightforward and accessible style, Trend Trading teaches you how to trade equity trends with sound money management discipline, from the individual stock level to the whole portfolio level. Tailored to investors who want to use elements of trend following strategies in their equity portfolios, Trend Trading presents unique investment tools and advanced technical analysis methods in simple, commonsense terms.Table of ContentsPreface. Acknowledgments. PART I TREND TRADING PSYCHOLOGY. Chapter 1. Elements of an Edge. Chapter 2. What Can an Equity Trader Learn from a Futures Trend Follower? Chapter 3. Equity Trend Following in Action. PART II TREND TRADING TACTICS. Chapter 4. Three-Dimensional Technical Analysis. Chapter 5. Structuring a Trend Trade. Chapter 6. Structuring a Trend Trading Portfolio. Chapter 7. Out of the Box: Further Possibilities. Epilogue. Appendix: Trend Trading Worksheets and Checklists. Notes. Bibliography. Recommended Reading. Additional Resources. Index.
£34.00
John Wiley & Sons Inc Financial Markets Tick by Tick 262 Wiley Trading
Book SynopsisIn this unique collection, Pierre Lequeux has brought together a highly-experienced group of practitioners and academics to produce a readable, yet detailed handbook of the very latest thinking and market methodologies in analyzing stock market prices and movements.Table of ContentsHIGH FREQUENCY FINANCIAL SERIES, VOLATILITY AND RISK. Efficient Estimation of Intra-day Volatility: A Method-of-Moments Approach Incorporating the Trading Range (R. Spurgin & T. Schneeweis). Modelling Intra-day Equity Prices and Volatility Using Information Arrivals - A Comparative Study of Different Choices of Informational Proxies (S. Lin, et al.). The Incremental Volatility Information in One Million Foreign Exchange Quotation (S. Taylor & X. Xu). Correlation of High Frequency Financial Time Series (M. Lundin, et al.). Highs and Lows: Times of the Day in the Currency CME Market (E. Acar & R. Toffel). STATISTICAL FEATURES OF HIGH FREQUENCY FINANCIAL SERIES AND FORECASTING. The Intraday Behavior of Key Market Variables for Liffe Derivatives (O. Gwilym, et al.). Price Discovery and Market Integration in European Bond Markets (A Holland). A Practical Approach to Information Spillover at High Frequency: Empirical Study of the Gilt and FTSE Liffe Contracts (P. Lequeux). A Random Walk down the Financial High Frequency Streets? (M. Gavridis, et al.). Trading Rules Profits and the Underlying Times Series Properties (E. Acar & P. Lequeux). HIGH FREQUENCY FINANCIAL SERIES AND MARKET PRACTITIONERS APPLICATIONS. The Source, Preparation and Use of High Frequency Data in the Derivatives Markets (P. McGregor). The Design of a Quantitative Currency Overlay Program (H. Dijkstra, et al.). Constructing a Managed Portfolio of High Frequency Liffe Futures Positions (D. Toulson, et al.). Index.
£90.25
Wiley Private Equity Examining the New Conglomerates of
Book SynopsisPrivate Equity Examining the New Conglomerates of European Business a This is the authoritative work on private equity, giving the business manager a genuine insight into how this relatively new form of ownership works. a Frank Neale, Phildrew Ventures a A truly revealing insight into the world of private equity, MBOs and MBIs.Table of ContentsWhat They Do and Why It Matters. How They Developed. Why Their Deals Succeed or Fail. Extracting the Value. The Dealmakers-Who They Are and What They Invest In. The Investors Behind Them. The Good, the Bad, and the Ugly. Exit Routes-Nailing the Return. Private Investors and Private Equity. Private Equity Online. The European Challenge. The Secret Multinationals. Glossary. IRR Ready Reckoner. Selected Bibliography. Index.
£54.00
John Wiley & Sons Inc The Intelligent Guide to Stock Market Investment
Book SynopsisThis book, written by financial professionals with extensive experience, provides a realistic and critical look at the theory and practice of stock market investing in the UK. It discusses, in a balanced way, the advantages and disadvantages of the many techniques used for profitable investments.Table of ContentsTHE MYTHS AND REALITIES OF STOCK MARKET INVESTMENT. The Attractions of Equity Investment. The History of the Stock Market. THE BASIC FACTS. Shares and Events. Alternative Investments. The Analysis of Company Accounts. ACADEMIC PERSPECTIVES ON MARKET BEHAVIOUR. Statistics and the Scientific Approach. Economics and Market Rationality. CLASSICAL APPROACHES TO INVESTMENT. Market Traders and Technical Analysis. Top Down Investment. Fundamental Analysis. INVESTMENT GURUS AND AUTHORS. Technical Investors and Traders. Top Down Investment Gurus. Fundamental Analysis Gurus. INVESTMENT GUIDELINES. Personal Financial Planning. Stock Market Advice to the Reader. The Practicalities of Dealing in Shares. Conclusions. References. Glossary. Index.
£19.54
Wiley Financial Innovation
Book SynopsisThis text discusses, through a blend of theory and empirical research, the modelling of financial instruments and examines the instruments that have been created over the past 20 years. The book focuses on the principles behind developing financial instruments and how the process can be modelled.Table of ContentsPreface 1. Technical and financial innovation; an introduction 2. Growth of financial innovations 3. Theoretical approaches towards financial innovation 4. Models of innovation; the industrial economics literature 5. Models of innovation: adoption and diffusion 6. Financial innovation: an industrial economics perspective 7. Modelling the diffusion of financial innovations: methodological approach 8. Modelling the diffusion of financial innovations: some empirical evidence 9. Conclusions and summary
£95.00
