Finance and the finance industry Books

Book SynopsisMonzo is a new kind of bank. One that's made for your phone and designed for the way we live today. Founded in 2015, its mission is to make money work for everyone. Monzo listens to its customers to create tools they really need, to help them be more capable and confident in their finances than ever before. With over 11 million personal and business customers, Monzo is one of the UK's biggest banks, changing the way more and more people feel about their money every day.

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Book SynopsisThe untold story of Winston Churchill's precarious finances – and the most original and surprising book about Churchill to emerge for many years. The popular image of Churchill – grandson of a duke, drinking champagne and smoking a cigar – conjures up a man of wealth and substance. The reality is that Britain's most celebrated 20th-century statesman lived for most of his life on a financial cliff-edge. Only fragments of information about his finances, or their impact on his public life, have previously emerged. With the help of unprecedented access to Churchill's private records, David Lough creates the first fully researched narrative of Churchill's private finances and business affairs. As he reveals the scale of Churchill's financial risk-taking, combined with an ability to talk or write himself out of the tightest of corners, the links between the private man and public figure become clear.Trade ReviewThe little known and sometime heroic saga of Churchill's struggle to achieve liquidity... [Lough] is a courteous guide, whose knowledge of the arcane world of investment enables him to explain what went wrong and how the Churchills managed to scrape through... a fascinating read' * The Times *You can learn a lot about someone from the state of their bank balance, as David Lough discovers in this riveting examination of Churchill's finances * Daily Mail *Plenty of eye-opening detail... Churchill buffs and economic historians will find valuable insights in the light Lough sheds upon the man and his times' * Financial Times *This excellent and entertaining work is worth reading * Prospect Magazine *Tells the tale of Churchill the adventurer and gambler elegantly. And for a financial biography, Mr Lough's is a surprising page-turner * Economist *Astonishing revelations... Churchill as financial risk-taker, spend-thrift, debtor, reckless gambler. This book makes you wholly rethink the perceived wisdom about the icon' -- William Boyd, The GuardianThe first book that focuses on his (mainly losing) battle against borrowing... the detail is excellent' * The Times (2015 Books of the Year) *Lough has painstakingly trawled the archives... Lough is excellent on Churchill's getting and spending... drawing political inferences from these personal matters' * Literary Review *Intriguing... Lough knows where the receipts are buried and reveals them with great relish' * Oxford Times. *The eighty pages of reference notes are testimony to David Lough's resourcefulness and persistence in research, exposing the lineaments of this personal story with an ultimately telling impact * TLS. *A fascinating and fresh study of the man' * Spear's Magazine *The most original and surprising book about Churchill * The Week *A remarkable story of flamboyant improvidence * Daily Mail *

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Book SynopsisGlen Arnold is the author of Corporate Financial Management, Financial Times Guide to Value Investing 2e, The Handbook of Corporate Finance,  FT Guide to Investing, 2e, The FT Guide to the Financial Markets and The Great Investors. FT Guide to Investing is the most successful book in the personal finance section of Total Consumer Market.Table of ContentsAbout the author Preface Author's acknowledgements Publisher's acknowledgements PART 1 DIFFERENT TYPES OF BANKING Chapter 1 What is banking? Chapter 2 An overview of different aspects of banking Chapter 3 Retail banking Chapter 4 Transferring money and other retail bank services Chapter 5 Corporate banking: lending Chapter 6 Corporate banking: key activities Chapter 7 How a bank operates Chapter 8 Asset and liability management Chapter 9 Bank financial statements Chapter 10 Investment banking: services to companies and governments Chapter 11 Investment banking: market trading activities Chapter 12 The mutuals Chapter 13 Finance houses PART 2 INTERNATIONAL BANKING Chapter 14 Banking across borders Chapter 15 UK banking Chapter 16 European banking Chapter 17 Banking in the Americas Chapter 18 Banking in Asia and Australasia Chapter 19 Banking in the Middle East and Africa PART 3 INSTRUMENTS AND MARKETS Chapter 20 Debt markets Chapter 21 Futures markets Chapter 22 Swaps and options Chapter 23 Foreign exchange markets PART 4 CENTRAL BANKING AND REGULATION Chapter 24 Monetary policy Chapter 25 Central banking: other functions Chapter 26 Regulation Notes to chapters Index

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Book SynopsisA Financial Times Book of the Year 2020! Should companies be run for profit or purpose? In this ground-breaking book, acclaimed finance professor and TED speaker Alex Edmans shows it''s not an either-or choice. Drawing from real-life examples spanning industries and countries, Edmans demonstrates that purpose-driven businesses are consistently more successful in the long-term. But a purposeful company must navigate difficult trade-offs and take tough decisions. Edmans provides a roadmap for company leaders to put purpose into practice, and overcome the hurdles that hold many back. He explains how investors can discern which companies are truly purposeful and how to engage with them to unleash value for both shareholders and society. And he highlights the role that citizens can play in reshaping business to improve our world. This edition has been thoroughly updated to include the pandemic, the latest research, and new insights on how to make purpose a reality.Trade Review'I do not know whether capitalism is in crisis. But I do know Alex Edmans' superb book makes the case, compellingly and comprehensively, for a radical rethink of how companies operate and indeed why they exist. It is the definitive account of the analytical case for responsible business, but is at the same time practical and grounded in real business experience. It is a tour de force.' Andy Haldane, Chief Economist, Bank of England'Politicians are calling for large companies to be regulated or split up. In this compelling book Alex Edmans argues that there is indeed a problem with corporate behavior but that the solution may be simpler: change corporate purpose so that companies focus on growing the pie rather than grabbing more of it. Edmans's arguments are a powerful and persuasive antidote to much of the conventional wisdom about the corporate world.' Oliver Hart, 2016 Nobel Laureate in Economics'This is a brilliant and timely book, taking the business case for responsible capitalism to a whole new level. Edmans provides a rigorous, evidence-based approach, exploring numerous angles around how businesses can (and, as he shows, must) combine profit-seeking with purpose as well as the role investors and other stakeholders can play in driving a genuine win-win approach. He tackles counter-arguments head-on and has the courage to expose examples of virtue-signalling that falsely discredit responsible businesses. Citing case studies collated over decades, it's a great read, too, offering fascinating examples well beyond the usual suspects. Grow the Pie really has the power to convince the sceptics as well as encourage advocates consider new ways to embed the approach further in their businesses.' Dame Helena Morrissey, financier and founder of the 30% Club'This is a must-read book for anyone interested in reforming capitalism - particularly in its role of serving wider society. The book is grounded in academic evidence, but the ideas are highly practical, and recognize the need for business to be profitable as well as purposeful. Most companies have inspiring mission statements; Edmans provides a concrete framework for translating them into actual practice. He does not shy away from acknowledging the challenges with running a purpose-driven company - balancing multiple objectives, achieving investor buy-in, and making decisions where the key criteria cannot be quantified. Instead, he tackles them head-on, giving clear guidelines on how to navigate tough decisions, which he illustrates with powerful examples.' Dominic Barton, former Global Managing Partner of McKinsey'The quest to encourage companies to adopt positive values, for the benefit of all stakeholders, sometimes seems long on vision and short on firepower. Edmans, a finance professor, provides plenty of ammunition to support the idea that visionary leaders can expand the whole 'pie' in pursuit of purpose and profit.' Andrew Hill, Financial Times, Best Books of 2020'This is an original and important book that will help transform how business sees itself - and how we see business. Alex Edmans in his passionate advocacy of 'Pieconomics' challenges us all to adopt a mindset and unity of purpose in which all business actions contribute to pie growing. The implications are radical and far-reaching. Read it: it will challenge how you think.' Will Hutton, Principal of Hertford College, Oxford and Observer columnist'In Grow the Pie, Alex Edmans has provided us with a valuable contribution to contemporary thinking about how business can be a force for good in society. His thought-provoking, often contrarian, ideas are rigorously logical, delving beneath the superficial analyses we often see, which assume correlation implies causation. And Alex's engaging storytelling brings the principles of 'Pieconomics' to life with examples of prominent business people - not just those who understand the benefits of growing the pie - but also those who don't.' Sir James G. M. Wates, Chairman of Wates Group'Alex Edmans has done a great service to society by showing that business doesn't have to be a zero-sum game if we focus more on growing the pie rather than maximizing our slice of it. This is capitalism with a human face.' Andrew Lo, Massachusetts Institute of Technology'Just as Freakonomics encouraged readers to look beyond the conventional wisdom that underlies many public policies, now Professor Alex Edmans introduces the concept of Pieconomics. In Grow the Pie, he challenges popular rhetoric that the free enterprise system is broadly detracting from society. Instead, through many and varied examples, he offers an alternate lens through which we can interpret what constitutes responsible business. In this thoroughly readable book, Edmans debunks mythologies about corporate behavior and offers a new vocabulary by which we can have principled discussions about the role of business in society.  A 'must read' for leaders in government, business and the media that reports on both.' Paula Rosput, Reynolds, Director of GE, BP, and BAE'This book is a must-read for asset owners, fund managers and for the boards and executives who lead business enterprise. It provides evidence-based analysis and guidance on how the influence of well-designed stewardship can yield benefit in terms of both financial returns for savers and investors and returns for all stakeholders in a way that benefits society as a whole.' Sir David Walker, former Chairman of Barclays and Morgan Stanley International, author of the Walker Review'Alex Edmans has produced rigorous evidence that the choice between people and profits is a false dichotomy. Now he makes his work accessible to a broader audience and explains how it's possible to overcome the tradeoffs that hold so many leaders and companies back.' Adam Grant, author of Originals and Give and Take and host of the TED podcast WorkLife'This uplifting book provides powerful examples, as well as evidence, that socially responsible businesses generate even higher long term profits than corporations focused on short term profit maximisation. Value is created particularly in new economy enterprises by employee purpose, creation of brand and reputation which drives customer preference. The findings reflects my own real world experiences of striving for business excellence across the global LifeSciences industry.' David Pyott, former Chairman and CEO of Allergan'Finance Professor Alex Edmans defines his purpose in life as 'to use rigorous research to influence the practice of business.' This book, Grow the Pie, demonstrates his manifest success in fulfilling that purpose. Edmans mobilizes evidence - not anecdotes - to make a case, both accessible and compelling, for policies and practices that increase the value available for all stakeholders versus simply and simplistically maximizing profit. Edmans' critical contribution is to reframe arguments about business and capitalism from an all too prevalent short-term zero-sum game to collaborative games where, over time, all can benefit.' Bill Janeway, Warburg Pincus'Alex Edmans provides robust evidence against the claim that businesses must choose between shareholder value and social responsibility. Although there are trade-offs, there is no single trade-off. What is good for shareholders can be good for society: evidence matters.' Baroness Onora O'Neill, University of CambridgeTable of ContentsIntroduction; How to read this book; Part I. Why Grow the Pie? Introducing the Idea: 1. The pie-growing mentality: a new approach to business that works for both investors and society; 2. Growing the pie doesn't aim to maximise profits – but often does: freeing a company to take more investments, ultimately driving its success: 3. Growing the pie doesn't mean growing the enterprise: three principles to guide trade-offs and which projects to turn down; 4. Does pieconomics work?: data – not wishful thinking – shows that companies can both do good and do well; Part II. What Grows the Pie? Exploring the Evidence: 5. Incentives: rewarding long-term value creation while deterring short-term gaming; 6. Stewardship: the value of engaged investors that both support and challenge management; 7. Repurchases: investing with restraint, releasing resources to create value elsewhere in society; Part III. How to Grow the Pie? Putting it into practice: 8. Enterprises: the power of purpose and how to make it real; 9. Investors: turning stewardship from a policy into a practice; 10. Citizens: how individuals can act and shape business, rather than be acted upon; Part IV. The Bigger Picture: 11. Growing the pie more widely: win-win thinking at the national and personal levels; Conclusion; Action items; Appendix; Acknowledgements; Endnotes; Index.

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Book SynopsisThe rules for investing have changed. Don’t get left behind!If you think about it, it’s not hard to grasp why a complete reboot in the way we think about investing is necessary. Stock picking and Buffett-style investing are the financial tools of a bygone era, yet how to proceed remains utterly confusing for most of today’s investors.Mark Haefele oversees around $5 trillion of client assets as the Chief Investment Officer of UBS, the World''s Best Bank 2024, according to Euromoney. Mark has spent decades advising investors of all kinds—from high school students, to government officials, to UBS''s unique global roster of billionaires.In the New Rules of Investing, Mark shares the investing strategies he uses at UBS and offers a playbook for protecting and growing your wealth. By the end of this book, investors of all levels should be able to walk away knowing—through theory and Mark’s life sto

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Book SynopsisJosh Lerner, leading Harvard Business School professor, explores what lies behind successful innovation, and what managers and companies can learn from successful and unsuccessful cases. He combines both analysis of in-house innovation in corporate research labs, with more finance based venture capital investment in innovation.Table of ContentsPART I: THE TRADITIONAL MODEL; PART II: THE VENTURE ALTERNATIVE; PART III: THE BEST OF BOTH WORLDS?

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Book SynopsisNaked Economics gives you the tools to engage with pleasure and confidence in the deeply relevant, not so dismal science.Trade Review"I recommend this book to anyone who wants to gain an understanding of basic economics with little pain and much pleasure." -- Gary Becker, 1992 Nobel Prize winner in Economics

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Book SynopsisTable of ContentsIntroduction 1 About This Book 1 Foolish Assumptions 2 Icons Used in This Book 3 Where to Go from Here 3 Part 1: Getting Started With Quantitative Finance 5 Chapter 1: Quantitative Finance Unveiled 7 Defining Quantitative Finance 8 Summarising the mathematics 8 Pricing, managing and trading 9 Meeting the market participants 9 Walking like a drunkard 10 Knowing that almost nothing isn’t completely nothing 11 Recognising irrational exuberance 14 Wielding Financial Weapons of Mass Destruction 15 Going beyond cash 17 Inventing new contracts 18 Analysing and Describing Market Behaviour 20 Measuring jumpy prices 20 Keeping your head while using lots of data 21 Valuing your options 21 Managing Risk 22 Hedging and speculating 22 Generating income 23 Building portfolios and reducing risk 23 Computing, Algorithms and Markets 24 Seeing the signal in the noise 24 Keeping it simple 25 Looking at the finer details of markets 25 Trading at higher frequency 26 Chapter 2: Understanding Probability and Statistics 27 Figuring Probability by Flipping a Coin 28 Playing a game 31 Flipping more coins 32 Defining Random Variables 33 Using random variables 34 Building distributions with random variables 35 Introducing Some Important Distributions 38 Working with a binomial distribution 39 Recognising the Gaussian, or normal, distribution 40 Describing real distributions 41 Chapter 3: Taking a Look at Random Behaviours 45 Setting Up a Random Walk 45 Stepping in just two directions 47 Getting somewhere on your walk 48 Taking smaller and smaller steps 49 Averaging with the Central Limit Theorem 50 Moving Like the Stock Market 53 Generating Random Numbers on a Computer 54 Getting random with Excel 55 Using the central limit theorem again 58 Simulating Random Walks 58 Moving Up a Gear 60 Working a stochastic differential equation 60 Expanding from the origin 61 Reverting to the Mean 62 Part 2: Tackling Financial Instruments 65 Chapter 4: Sizing Up Interest Rates, Shares and Bonds 67 Explaining Interest 68 Compounding your interest 68 Compounding continuously 69 Sharing in Profits and Growth 71 Taking the Pulse of World Markets 72 Defining Bonds and Bond Jargon 74 Coupon-bearing bonds 75 Zeroing in on yield 76 Cleaning up prices 78 Learning to like LIBOR 79 Plotting the yield curve 80 Swapping between Fixed and Floating Rates 81 Chapter 5: Exploring Options 85 Examining a Variety of Options 86 Starting with plain vanilla options 86 Aiming for a simple, binary option 87 Branching out with more exotic options 87 Reading Financial Data 88 Seeing your strike price 88 Abbreviating trading information 89 Valuing time 89 Getting Paid when Your Option Expires 90 Using Options in Practice 92 Hedging your risk 92 Placing bets on markets 93 Writing options 94 Earning income from options 94 Distinguishing European, American and other options 95 Trading Options On and Off Exchanges 96 Relating the Price of Puts and Calls 96 Chapter 6: Trading Risk with Futures 99 Surveying Future Contracts 99 Trading the futures market 101 Marking to market and margin accounts 101 Dealing in commodity futures 102 Index futures 105 Interest rate futures 106 Seeing into the Future 107 Paying in cash now 108 Connecting futures and spot prices 109 Checking trading volume 110 Looking along the forward curve 110 Rolling a Position 112 Keeping a consistent position 113 Adjusting backwards 113 Converging Futures to the Spot Price 114 Using Futures Creatively 115 Calendar spreads 116 Commodity spreads 116 Seasonality in Futures Prices 117 Part 3: Investigating and Describing Market Behaviour 119 Chapter 7: Reading The Market’s Mood: Volatility 121 Defining Volatility 122 Using Historical Data 124 Weighting the data equally 124 Weighting returns 125 Shrinking Time Using a Square Root 127 Comparing Volatility Calculations 128 Estimating Volatility by Statistical Means 132 The symmetric GARCH model 132 The leverage effect 134 Going Beyond Simple Volatility Models 135 Stochastic volatility 135 Regime switching 136 Estimating Future Volatility with Term Structures 137 Chapter 8: Analysing All the Data 139 Data Smoothing 139 Putting data in bins 140 Smoothing data with kernels 143 Using moving averages as filters 147 Estimating More Distributions 149 Mixing Gaussian distributions 149 Going beyond one dimension 150 Modelling Non-Normal Returns 151 Testing and visualising non-normality 151 Maximising expectations 153 Chapter 9: Analysing Data Matrices: Principal Components 159 Reducing the Amount of Data 160 Understanding collinearity 163 Standardising data 166 Brushing up some maths 167 Decomposing data matrices into principal components 170 Calculating principal components 173 Checking your model with cross- validation 174 Applying PCA to Yield Curves 177 Using PCA to Build Models 180 Identifying clusters of data 180 Principal components regression 181 Part 4: Option Pricing 183 Chapter 10: Examining the Binomial and Black-Scholes Pricing Models 185 Looking at a Simple Portfolio with No Arbitrage 186 Pricing in a Single Step 187 Entering the world of risk neutral 188 Calculating the parameters 191 Branching Out in Pricing an Option 192 Building a tree of asset prices 192 Building a tree of option prices by working backwards 192 Pricing an American option 194 Making Assumptions about Option Pricing 195 Introducing Black-Scholes – The Most Famous Equation in Quantitative Finance 196 Solving the Black-Scholes Equation 199 Properties of the Black-Scholes Solutions 202 Generalising to Dividend-Paying Stocks 204 Defining other Options 205 Valuing Options Using Simulations 206 Chapter 11: Using the Greeks in the Black-Scholes Model 209 Using the Black-Scholes Formulae 210 Hedging Class 211 That’s Greek to Me: Explaining the Greek Maths Symbols 213 Delta 213 Dynamic hedging and gamma 216 Theta 218 Rho 219 Vega 219 Relating the Greeks 220 Rebalancing a Portfolio 220 Troubleshooting Model Risk 221 Chapter 12: Gauging Interest-Rate Derivatives 223 Looking at the Yield Curve and Forward Rates 224 Forward rate agreements 227 Interest-rate derivatives 228 Black 76 model 230 Bond pricing equations 232 The market price of risk 234 Modelling the Interest-Rate 234 The Ho Lee model 234 The one-factor Vasicek model 235 Arbitrage free models 237 Part 5: Risk and Portfolio Management 239 Chapter 13: Managing Market Risk 241 Investing in Risky Assets 241 Stopping Losses and other Good Ideas 244 Hedging Schemes 245 Betting without Losing Your Shirt 247 Evaluating Outcomes with Utility Functions 249 Seeking certainty 250 Modelling attitudes to risk 251 Using the Covariance Matrix to Measure Market Risk 253 Estimating parameters 254 Shrinking the covariance matrix 254 Chapter 14: Comprehending Portfolio Theory 257 Diversifying Portfolios 258 Minimising Portfolio Variance 259 Using portfolio budget constraints 260 Doing the maths for returns and correlations 262 Building an efficient frontier 266 Dealing with poor estimates 267 Capital Asset Pricing Model 268 Assessing Portfolio Performance 270 Sharpe ratio 270 Drawdowns 272 Going for risk parity 273 Chapter 15: Measuring Potential Losses: Value at Risk (VaR) 275 Controlling Risk in Your Portfolio 276 Defining Volatility and the VaR Measure 277 Constructing VaR using the Covariance Matrix 279 Calculating a simple cash portfolio 280 Using the covariance matrix 281 Estimating Volatilities and Correlations 282 Simulating the VaR 283 Using historical data 283 Spinning a Monte Carlo simulation 284 Validating Your Model 285 Backtesting 285 Stress testing and the Basel Accord 286 Including the Average VaR 286 Estimating Tail Risk with Extreme Value Theory 289 Part 6: Market Trading and Strategy 291 Chapter 16: Forecasting Markets 293 Measuring with Technical Analysis 294 Constructing candlesticks 294 Relying on relative strength 295 Checking momentum indicators 298 Blending the stochastic indicator 299 Breaking out of channels 300 Making Predictions Using Market Variables 301 Understanding regression models 302 Forecasting with regression models 304 Predicting from Past Values 306 Defining and calculating autocorrelation 306 Getting to know autocorrelation models 308 Moving average models 309 Mentioning kernel regression 311 Chapter 17: Fitting Models to Data 313 Maximising the Likelihood 314 Minimising least squares 316 Using chi-squared 318 Comparing models with Akaike 318 Fitting and Overfitting 319 Applying Occam’s Razor 322 Detecting Outliers 322 The Curse of Dimensionality 324 Seeing into the Future 325 Backtesting 325 Out-of-sample validation 327 Chapter 18: Markets in Practice 329 Auctioning Assets 330 Selling on eBay 331 Auctioning debt by the US Treasury 332 Balancing supply and demand with double-sided auctions 333 Looking at the Price Impact of a Trade 336 Being a Market Maker and Coping with Bid-Ask Spreads 337 Exploring the meaning of liquidity 338 Making use of information 339 Calculating the bid-ask spread 342 Trading Factors and Distributions 343 Part 7: The Part Of Tens 345 Chapter 19: Ten Key Ideas of Quantitative Finance 347 If Markets Were Truly Efficient Nobody Would Research Them 347 The Gaussian Distribution is Very Helpful but Doesn’t Always Apply 348 Don’t Ignore Trading Costs 349 Know Your Contract 349 Understanding Volatility is Key 350 You Can Price Options by Building Them from Cash and Stock 350 Finance Isn’t Like Physics 351 Diversification is the One True Free Lunch 351 Find Tools to Help Manage All the Data 352 Don’t Get Fooled by Complex Models 353 Chapter 20: Ten Ways to Ace Your Career in Quantitative Finance 355 Follow Financial Markets 355 Read Some Classic Technical Textbooks 356 Read Some Non-technical Books 356 Take a Professional Course 357 Attend Networking Meetings and Conferences 357 Participate in Online Communities 358 Study a Programming Language 358 Go Back to School 359 Apply for that Hedge Fund or Bank Job 359 Take Time to Rest Up and Give Back 359 Glossary 361 Index 369

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Book SynopsisShortlisted for the Orwell Prize 2016 We all depend on the finance sector. We need it to store our money, manage our payments, finance housing stock, restore infrastructure, fund retirement and support new business. But these roles comprise only a tiny sliver of the sector's activity: the vast majority of lending is within the finance sector. So what is it all for? What is the purpose of this activity? And why is it so profitable? John Kay, a distinguished economist with wide experience of the financial sector, argues that the industry's perceived profitability is partly illusory, and partly an appropriation of wealth created elsewhere - of other people's money. The financial sector, he shows, has grown too large, detached itself from ordinary business and everyday life, and has become an industry that mostly trades with itself, talks to itself, and judges itself by reference to standards which it has itself generated. And the outside world has itself adopted those standards, bailing out financial institutions that have failed all of us through greed and mismanagement. We need finance, but today we have far too much of a good thing. In Other People's Money John Kay shows in his inimitable style what has gone wrong in the dark heart of finance.Trade ReviewStratospherically authoritative. * Independent *Should be read by everyone concerned with preventing the next crisis... barely a page goes by without an acute observation or pithy aphorism. * Economist *Kay is both a first-class economist and an excellent writer. * Financial Times *Mr Kay is a brilliant writer. * Wall Street Journal *An admirable debunker of myths and false beliefs - Kay can see substantial things others don't. -- Nassim N Taleb, author of The Black SwanQuite brilliant ... about as good a demonstration of Kay's skills (as economist, thinker and writer) as you are likely to find. -- Andrew Haldane * Prospect magazine *John Kay is one of the most engaging and accessible writers on economics in Britain today * Morning Star *

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Book SynopsisSince 2008, financial firms have paid, in aggregate, in excess of $320 billion in fines related to misconduct. Nearly ten years later, while many large financial firms have increased their attention to bad behavior and cultural drivers, the degree of commitment and progress in these efforts has not been even across the industry. Serious or persistent misconduct continues in some firms. Many organizations have attempted to curb bad behavior through intrusive monitoring and enforcement actions which reflect a lack of trust in their employees. A different approach is needed, one that gets at the root causes of misconduct and attempts to rebuild culture from the bottom up, with the employee at the center. This is where tools from behavioral science can help senior risk officers, compliance and business heads better understand the mind-set of their employees and internal communities and create an environment where the link between ethical behavior and strong business results is promoted. If firms continue to fail in establishing stronger internal cultures, regulators may feel compelled to step in and dictate what they should do. This book emphasizes the need for a change in approach, looking at the increased incidence of misconduct and culture breakdown since the 2008 crisis, how regulators have responded, and includes a series of proposals to restore that trust and reform culture.Table of Contents1. 1. Introduction 2. 2. The Financial Crisis: The Culture Problem Emerges 3. 3. Culture and Organizational Size 4. 4. Global Regulators: Limits on What They Can Do 5. 5. Enforcing Culture: Criminally-based Compliance 6. 6. Behavioral Science: From Theory to Practice 7. 7. U.S. Regulators: Requiring Behavioral Risk Teams 8. 8. What is Finance For?

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Book Synopsis The innovative investor’s guide to an entirely new asset class—from two experts on the cutting edge With the rise of bitcoin and blockchain technology, investors can capitalize on the greatest investment opportunity since the Internet. Bitcoin was the first cryptoasset, but today there are over 800 and counting, including ether, ripple, litecoin, monero, and more. This clear, concise, and accessible guide from two industry insiders shows you how to navigate this brave new blockchain world’and how to invest in these emerging assets to secure your financial future. Cryptoassets gives you all the tools you need: An actionable framework for investigating and valuing cryptoassets Portfolio management techniques to maximize returns while managing risk Historical context and tips to navigate inevitablTable of ContentsAuthor's Note Foreword Acknowledgments Introduction Part I: What Chapter 1: Bitcoin and the Financial Crisis of 2008 Chapter 2: The Basics of Bitcoin and Blockchain Technology Chapter 3: "Blockchain, Not Bitcoin?" Chapter 4: The Taxonomy of Cryptoassets Chapter 5: Cryptocommodities and Cryptotokens Part II: Why Chapter 6: The Importance of Portfolio Management and Alternative Assets Chapter 7: The Most Compelling Alternative Asset of the Twenty-First Century Chapter 8: Defining Cryptoassets as a New Asset Class Chapter 9: The Evolution of Cryptoasset Market Behavior Chapter 10: The Speculation of Crowds and "This Time is Different" Thinking Chapter 11: "It's Just a Ponzi Scheme, Isn't It?" Part III: How Chapter 12: Fundamental Analysis and a Valuation Framework for Cryptoassets Chapter 13: Evaluating the Health of Cryptoasset Networks and Technical Analysis Chapter 14: Directly Investing in Cryptoassets: Mining, Exchanges, and Wallets Chapter 15: "Where's the Bitcoin ETF?" Chapter 16: The Wild World of ICOs Chapter 17: Preparing Current Portfolios for Blockchain Disruption Chapter 18: The Future of Investing is Here Chris and Jack's Go-to Crypto Resources Notes Index

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Book SynopsisTrade Review"Finalist for the PROSE Award in Reference Works – Social Sciences, Association of American Publishers"

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Book Synopsis Lars Kroijer was the CEO of Holte Capital Ltd, a London-based special situations hedge fund which he founded in 2002 before returning external capital in the spring of 2008. Prior to establishing Holte Capital, Lars served in the London office of HBK Investments. In addition, he previously worked at SC Fundamental and the investment banking division of Lazard Freres in New York. Lars graduated Magna Cum Laude from Harvard University and received a MBA from Harvard Business School. He is also the author of Money Mavericks (Pearson, 2010)Trade Review‘Lars Kroijer takes a refreshing look at how everyday people can improve their fortunes by taking some simple investing steps.’ Dr David Kuo, The Motley Fool ‘In a world of the next big investment fad, Lars Kroijer takes us back to the essence of smart investing: diversify, diversify, diversify. And don’t overpay for that either.’ Coenraad Vrolijk, Managing Director of Blackrock ‘An important book that debunks common myths about investing. A must-read for ordinary investors.’ Anita Raghavan, New York Times and author of “The Billionaire’s Apprentice”

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a huge range and FREE tracked UK delivery on ALL orders.

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a huge range and FREE tracked UK delivery on ALL orders.

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Book SynopsisLong-term value creation—the board's new agenda.A big shift in public ownership has created a new set of challenges for boards. Index funds managed by firms like Vanguard, BlackRock, and State Street represent an emerging class of permanent institutional investors who are focused on creating and preserving long-term corporate value. These investors are stating in no uncertain terms that simply managing for short-term shareholder profit is not acceptable.Bill McNabb, Ram Charan, and Dennis Carey have been on the front lines of these changes with the investment community, corporate boards, and top-level management teams. Since TSR (total shareholder return) cannot keep the short and long term in balance, the authors argue, boards should focus on a different kind of TSR—talent, strategy, and risk—because decisions and actions around these factors, more than any others, determine whether or not a company creates long-term value. This book redefines the board's agenda and explains how to: Build and incentivize the right leadership team Help leaders take a longer view and communicate it to investors Refresh board composition and create diversity to meet the new challenges Keep major risks, such as cyberattacks and sexual harassment allegations, front and center Analyze the business through the eyes of a shareholder activist With the new realities of corporate ownership, boards need to lead for the long term. This authoritative book shows them how.Trade ReviewAdvance Praise for Talent, Strategy, Risk:"Talent, Strategy, Risk is a must-read for directors, management, and all students of modern twenty-first-century business." — Muhtar Kent, former Chairman and CEO, The Coca-Cola Company; Board Director, 3M"Read this book before your investors do! The authors provide fresh new ideas that will forever change the relationship between those who invest in the company, oversee the company, and manage the company." — Maggie Wilderotter, former Chairman and CEO, Frontier Communications; Board Director, Sana Biotechnology, Lyft, DocuSign, Hewlett Packard Enterprise, and Costco Wholesale"This is the first book I know of that powerfully establishes the links between talent, strategy, and risk and explains how these three foundations of value creation are being evaluated by investors. A timeless and timely book indeed." — Dinesh Paliwal, Partner, KKR; former President and CEO, Harman International; and Board Director, Bristol Myers Squibb, Nestle, and RTX Corporation"This book covers new ground with fresh ideas about how CEOs need to rethink the impact of a rapidly changing investor landscape. I especially enjoyed reading Warren Buffet's formula for M&A risk mitigation, as told by Warren himself! These three authors hit it out of the park." — Ed Breen, Executive Chairman and CEO, DuPont; Board Director, Comcast"A groundbreaking guide to reshaping board members' concept of their role as companies move into more complex environments requiring greater and more tactical oversight." — Denise Ramos, former President and CEO, ITT Inc.; Board Director, Phillips 66, Bank of America, and Raytheon Technologies"There is no better explanation of, and validation for, shareholder and stakeholder governance than this stunning book." — Marty Lipton, Founding Partner, Wachtell, Lipton, Rosen & Katz"While many companies approach talent, strategy, and risk independently, the authors successfully argue the need for boards to address them holistically in order to create positive outcomes for each and to advance long-term shareholder value." — Ken Chenault, Chairman and Managing Director, General Catalyst; former Chairman and CEO, American Express; and Board Director, Airbnb and Berkshire Hathaway

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a huge range and FREE tracked UK delivery on ALL orders.

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Book SynopsisWe work hard to earn our money. But regardless of how much we earn, the money worry never goes away. Bills, rent, EMIs, medical costs, vacations, kids' education and, somewhere at the back of the mind, the niggling fear of being underprepared for our own retirement. Wouldn't it be wonderful if our money worked for us just as we work hard for it? What if we had a proven system to identify dud investment schemes? What if we could just plug seamlessly into a simple, jargon-free plan to get more value out of our money for tomorrow, and have a super good life today as well?

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Book SynopsisThe financial crisis of 2007-9 revealed serious failings in the regulation of financial institutions and markets, and prompted a fundamental reconsideration of the design of financial regulation. As the financial system has become ever-more complex and interconnected, the pace of evolution continues to accelerate. It is now clear that regulation must focus on the financial system as a whole, but this poses significant challenges for regulators. Principles of Financial Regulation describes how to address those challenges. Examining the subject from a holistic and multidisciplinary perspective, Principles of Financial Regulation considers the underlying policies and the objectives of regulation by drawing on economics, finance, and law methodologies. The volume examines regulation in a purposive and dynamic way by framing the book in terms of what the financial system does, rather than what financial regulation is. By analysing specific regulatory measures, the book provides readers to the opportunity to assess regulatory choices on specific policy issues and encourages critical reflection on the design of regulation.Trade ReviewThe book is a well-written composition that covers the major issues of financial regulation and provides a comprehensive picture of this complicated field in a clear and understandable manner. ... The book is a "must" for students in courses on financial regulation. However, it may be of use for a wider range of readers including academics (in law, business, public policy and economics), practitioners in the field and regulators. The book's thorough and profound analysis will unquestionably serve as an important tool in meeting the challenges of continued exploration of financial regulation. * Professor Ruth Plato-Shinar, Journal of International Banking Law and Regulation *Table of Contents1: Introduction 2: The Financial System 3: The Goals and Strategies of Financial Regulation 4: The Limits of Financial Regulation 5: Theory of Financial Markets 6: Market Structure 7: Information Intermediaries 8: Issuer Disclosure Regulation 9: Trading and Market Integrity 10: Regulating Consumer Finance 11: Consumer Financial Products 12: Financial Advice 13: Theory of Banking 14: Capital Regulation 15: Liquidity Regulation 16: Bank Resolution 17: Bank Governance 18: Payment and Settlement Systems 19: The Macroprudential Approach 20: Market Intermediation, Shadow Banking, and Systemic Risk 21: Making Markets 22: Asset Managers and Stability 23: Structural Regulation 24: Institutional Architecture: Embedding Regulatory Principles in Practice 25: The Political Economy of Financial Regulation 26: Supervision and Enforcement of Financial Regulation 27: Regulatory Architecture: What Matters? 28: International Regulatory Coordination 29: Conclusion: Designing Tomorrow's Financial System Today

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

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Book Synopsis''An easy to read, yet incredibly detailed step-by-step guide on how to manage your money in the modern day. Real-life examples with excellent storytelling and actionable steps. This is the best financial guide I''ve read.'' Joe Gomez, Liverpool FCEverything you need to know about finance from your own personal banker @urbanfinancierThe Money Ladder applies to everyone, whether you''re looking for ways to make more money, or you''re trying to grow and protect what you''ve already made. Franklin Asante understands money. As a private banker, he has helped many clients to manage their finances and achieve their short- and long-term goals. Now, in The Money Ladder, Franklin shares his experience and knowledge through a practical 3-step plan to help you to first of all understand money and then to grow it for the future. Step one: wealth generationStep two: wealth accumulation Step three: wealth preservation We are born with many human instincts, but managing money is not one of them. Through explaining the basics, Franklin gives you the tools you need in order to make informed financial choices about what to do with your money for the best return on your investments and to achieve lasting results. He also offers advice on saving, investing and borrowing, along with tips on how to prepare your cashflow, fill in a balance sheet and understand what assets are available to you. This book will help you to achieve your financial goals, by laying out the foundations you need to build the future you want. If you start on the bottom rung and learn the basics of money, you will find it much easier to climb the ladder to future financial freedom.

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Book SynopsisTable of ContentsA FinTech and RegTech Overview: Where We Have Come From and Where We Are Going vi About the Editors xii Acknowledgements xiv 1. Introduction What a RegTech Compliance Killer System Will Look Like 6 Technology-Enabled Collaborative Compliance 10 The Age of RegTech Disruption to the Status Quo Is Here 16 RegTech and Financial Crime Prevention 20 RegTech: Tackling Regulation with Innovation 26 Identities, the RegTech Holy Grail 30 2. The RegTech Landscape Islamic RegTech 38 How RegTech Could Help Determine the Future of Financial Services 44 Introducing the RegTech Quality Compass: The Five Factors of RegTech Quality 50 How Banks Are Managing Their Risk Through Technology and Market Infrastructure 55 RegTech and the Science of Regulation 58 GDPR and PSD2: Self-Sovereign Identity, Privacy, and Innovation 62 Rise of RegTech in the German Market 66 The Power of RegTech to Drive Cultural Change and Enhance Conduct Risk Management Across Banking 70 3. Regulatory Innovation and Sandboxes Discover the Innovative Technology Behind RegTech Leaders 80 Enabling RegTech Up Front: Unambiguous Machine-readable Regulation 85 Align Open Banking and Future-Proof RegTech for Regulators and Third-Party Providers to Deliver the Optimal Consumer Convenience and Protection 89 A Seat at the Table – Bringing the Voice of FinTech to the US Regulatory Process 93 Sandbox Games for RegTech 99 Legal Guidance for Entering the Sandbox and Taking Advantage of Cross-Border Cooperation Agreements 102 RegTech and the Sandbox − Play, Innovate, and Protect! 106 4. A Call for Innovation or Disruption? Governance, Risk, and Compliance: Complex or Complicated? 118 Innovation or Disruption: Not Always Black and White 122 How to Use Digital Marketing Data in Regulated Industries 126 Invention Versus Reinvention 130 Making Regulation Machine Readable 134 Can We Digitize Know Your Client? 138 5. RegTech Investment and Compliance Spending Why a Substantial Investment in Financial Services RegTech Now Will Strategically Reduce Your Future Regulatory Compliance Costs 146 Old Tech + New Tech = RegTech: Excel Spreadsheets and End User Computing in a Regulated World 150 Will Financial Institutions Ever Achieve a 100% Compliance with Anti–Money Laundering and Combating the Financing of Terrorism Rules? 154 Merits and Demerits of a Shared Risk Engine 158 Spend on Compliance: A Necessary Evil orBusiness Enabler? 163 6. RegTech for Authorized Institutions RegTech Opportunities in a Post-4MLD/5MLD World 172 Passporting in the EU – Is an Opportunity Also a Problem? 177 What Do PSD2 and Similar Activities Mean for Banks and FinTech Start-ups? 181 7. RegTech from a Regulatory Perspective The Role of Anti–Money Laundering Law and Compliance in FinTech 190 Banking Supervision at a Crossroads – RegTech as the Regulators’ Toolbox 195 FinReg, FinTech, and RegTech – Quo Vadis, EU? 199 The RegTech Landscape from a Regulator’s Perspective 205 RegTech is for Regulators Too, and its Future is in Emerging Markets 210 8. Blockchain and AI in RegTech The ROI of RegTech 218 The Augmented Compliance Office 221 Dissolving Barriers: A Global Digital Trust Protocol 226 Can AI Really Disrupt Monitoring for Suspicious Activity? 231 Forging a Responsibility and Liability Framework in the AI Era for RegTech 235 Compliance with Data Protection Regulations by Applying the Blockchain Technology 246 Blockchains Are Diamonds’ Best Friend: The Case for Supply Chain Transparency 250 9. RegTech Applicability Outside the Financial Services Industry Protecting Consumers and Enabling Innovation 260 RegTech Impact on the Private Security Industry 263 ArtTech: How Blockchain Can Improve Provenance 266 The Potential of RegTech in Improving the Effectiveness of Environmental Regulation 270 RegTech Applicability Outside the Financial Services Industry 274 Using RegTech as a Cross-Industry Digitization Tool 278 RegTech Unleashed: Discovering the Pathways Beyond Finance 282 RegTech Outside Finance: Four Options, One Clear Choice 287 RegTech: A Safe Bet for Tackling AML and Fraud in the Gambling Sector 292 10. Social Impact and Regulation The FinTech Ecosystem Between Legal Compliance and Social Dimension 300 The End Justifies the Means: Putting Social Purpose Back at the Heart of Banking and Financial Regulation 305 RegTech’s Impact on Trust and Identity 310 How Technology Is Driving Financial Inclusion 314 Banking the Unbanked and Underbanked: RegTech as an Enabler for Financial Inclusion 318 Superhero Way: Enhancing Regulatory Supervision with Superpowers 323 11. The Future of RegTech Market Surveillance 2020 330 I Regulate, Therefore I Am? Regulating Humans’ and Machines’ Conduct and Culture 335 The Future of RegTech 340 From RegTech to TechReg – Regulation in a Decentralized World 344 Emerging Innovations in RegTech 348 List of Contributors 351 Index 358

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Book Synopsis Raise your options investing game to a new level through smart, focused practice For decades, Sheldon Natenbergâs Option Volatility & Pricing has been helping investors better understand the complexities of the option market with his clear and comprehensive explanation of trading strategies and risk management. Now, you can raise your performance to a higher level by practicing Natenbergâs methods before you enter the market.  Filled with hands-on exercises designed to dramatically increase your knowledge and build your confidence, The Option Volatility and Pricing Workbook provides the necessary tools from which to build a successful options portfolio. Each exercise is preceded by clear description of the principle at hand, and each concludes with in-depth explanations of the correct answers. Hundreds of exercises cover such topics as: â

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Book SynopsisPeter Atrill is a freelance academic who has worked with leading institutions in the UK, Europe and SE Asia. He was formerly the Head of Business and Management and Head of Accounting and Law at Plymouth Business School, Plymouth University.

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Book SynopsisPersonal finance journalist, Michelle McGagh, takes on a challenge to not spend money for a whole year in an engaging narrative that combines personal experience with accessible advice on money.

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Book SynopsisAn updated and refreshed guide to day trading, with prescriptive information and actionable advice to help you achieve financial success.It may seem that day trading is only for savvy investors who know the ins and outs of the marketplace—but it doesn’t have to be. All it takes is the right information and staying on top of the market. Day Trading 101, 2nd Edition, simplifies all the terms, strategies, and processes involved in day trading, helping even the most novice investor find financial success. With updated information on trading patterns, mastering trading options, keeping tabs on the market, establishing strategies to make the most profit, and understanding trading lingo, this guide can get you on track to becoming a smart investor. Full of expert advice on the best paths to trading success, Day Trading 101 leaves no stone unturned, and no trading option undiscovered.

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Book SynopsisModern Finance and Risk Management is dedicated to our colleague, academic mentor, and adviser Professor Hermann Locarek-Junge. During his academic career, Hermann Locarek-Junge published several important contributions to the field of risk management and portfolio management and served as the chairman and board member of the German Finance Association (DGF) and the Data Science Society (Gesellschaft für Klassifikation).A short foreword by the mentors of Hermann Locarek-Junge and an introduction by the editors mark the beginning of the Festschrift. The first section on Modern Finance includes chapters on asset management, entrepreneurship, and behavioural finance. The second section on Modern Risk Management contains seven contributions covering considerations of risk measurement, risk management, and regulation. Finally, the third section includes topics on commodities and energy finance.This Festschrift comprises 20 original contributions of notable scholars in finance who have worked with Hermann Locarek-Junge over the last four decades. Due to numerous connections to practice and applications, Modern Finance and Risk Management is relevant and attractive not only to academics and researchers but also to practitioners in industry and banking.

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Book SynopsisNo Worries shows how anyone can live a stress-free financial life and build wealth for the long term. This is not about millions of tiny decisions that drain the joy from life, like skipping daily coffee to save a few bucks. And it's not simply about having more money. The secret lies in adopting the right attitude to money and getting a small number of big things right. In his unique style, drawing on decades of expertise, finance expert Jared Dillian tells the truths about essential personal finance topics and helps you to see things as you never have before. Jared reveals: how the right kind of abundance mindset works wonders how to purge the urge to splurge (without making life a drag) the most effective ways to use credit cards that no one tells you about the smart ways to buy big-ticket items, from houses to cars what's gone wrong with student loans and how to use them sensibly how to ace investing with the set-and-forget Awesome Portfolio. No matter where you're at, Jared can help you get your finances in better shape than 99% of other people - so that you can get on with your life as your wealth builds. Do that and you'll have no financial stress, and no worries.

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Book SynopsisStop Waiting, Start Investing is a timeless guide to help you build long term wealth using the stock market with only 10 minutes of work.- Are you a complete beginner to investing, and have no idea where to begin?- Are you already investing but unsure if you're following the right approach?- Does the idea of trying to invest for your future make you nervous?- Do you want to learn how to start investing, following a passive, simple, automated approach?If you answered yes to any of these questions, then this is the book for you.Stop Waiting, Start Investing is a great opportunity to invest in yourself, increase your financial education, and start to take control of your money.

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Book SynopsisIt is no secret that women are increasingly controlling wealth. Estimates suggest that women control more than 50% of all wealth and growing. Importantly, 95% of women will be their family’s primary financial decision maker at some point in their lives. Yet recent studies show that Millennial women are deferring financial and investing decisions at a greater pace than Baby Boomer women. Targeted to all women “with a clear recognition that though the objectives and needs of this vast segment may not necessarily be homogeneous, women share common challenges when it comes to investing, this book provides clear instruction and a series of Intelligent Investing Rules for women to live by, especially in these times with sticky and persistent inflation and rising interest rates. The Women’s Guide to Successful Investing demonstrates how women can develop the knowledge and skills required to accumulate wealth and build an investment portfolio for the long term. Providing proven wealth accumulation strategies, tailored advice, and a comprehensive market analysis, this second edition is a must-read for female investors who want to master volatile markets with long-term success. Written by a female CEO, CIO, and investment manager whose career has spanned 38 years, the book offers a much-needed blueprint for investments for women. Table of Contents1 Wealth Accumulation Is an Attitude Investing for your future requires a few goals and much less capital than you think 2 Saving to Invest is the Best Strategy 3 COVID Hit Women’s Finances Much Harder than Men’s Women left the worforce en masse – at what cost? 4 It’s True! Women Make Better Investors than Men (sorry guys) Women inherently display the traits required for successful investing 5 Developing an Intelligent Investing Strategy All Your Own Like any discipline, sound investing can become muscle memory for the diligent student and practitioner 6 Developing an Investment Discipline That Will Achieve our Goals—Continued: The Stock Market is a Tug of War between Fear and Greed; Arm Yourself with the Tools to Succeed 7 Construct Your Portfolio Like a Dinner Party Invitation List: Holdings Should Be Balanced and Behave Well If Things Get Out of Hand 8 Apple, Inc.—A Case Study in How to Select a Core Holding: A Role Model Investment You Will Want to Emulate 9 Mutual Funds Are So 1990, How to use Exchange-Traded Funds To Round Out Your Portfolio Holdings. To Crypto or not to Crypto and what the heck are meme stocks? 10 A Case Study of a Fallen Consumer Discretionary, Tech, E-commerce Company: Amazon. And Stocks to Own for a Lifetime 11 Five Critical Lessons and Warnings: Don’t Touch a Hot Stove, Don’t Talk to Strangers and Other Lessons for the Ages 12 Twelve Intelligent Investing Rules – And One More for Good Measure: Rules for Women to Invest By

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Book SynopsisThis international bestseller, which foreshadowed a market crash, explains why it could happen again if we don't act now. Fractal geometry is the mathematics of roughness: how to reduce the outline of a jagged leaf or static in a computer connection to a few simple mathematical properties. With his fractal tools, Mandelbrot has got to the bottom of how financial markets really work. He finds they have a shifting sense of time and wild behaviour that makes them volatile, dangerous - and beautiful. In his models, the complex gyrations of the FTSE 100 and exchange rates can be reduced to straightforward formulae that yield a much more accurate description of the risks involved.Trade ReviewMandelbrot is acknowledged as the father of chaos theory ... he is, simply, very clever indeed. * Sunday Telegraph *The reader gets a clear picture of the history of finance theory ... the best financial read * Financial Times *Entertainingly written ... this book is a brain-opener that adds hugely to our sum of knowledge. * Director *

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Book SynopsisTrade Review"...an excellent read...Mr. Gramm has collected a series of deliciously rich letters, many of which were never before published, sent to chief executives by investors by everyone from Warren Buffett to Ross Perot." -- Andrew Ross Sorkin, The New York Times "An engaging and informative book...Eight investor's letters that sum up some of the great agency-problem battles in the history of American business. It is a valuable set of stories." John Lanchester, The New Yorker -- John Lanchester, The New Yorker "...concise account of the spread of the particular form of corporate democracy called 'shareholder activism,'... a grand story." -- Wall Street Journal "Gramm ... is an engaging and critical guide to a century of US activism and activists" -- Financial Times (Summer Reading List) Jeff Gramm shows in his lively, well-researched book -- Business Strategy a revelation: a lively account of a long war against corporate and investor smugness -- The Financial Times "It's an illuminating read for those wondering what drives activists, and includes occasional references to music (another Mr. Gramm hobby) with lucid observations on investors and corporations." -- Wall Street Journal illuminating and often wildly entertaining -- Huffington Post "Jeff Gramm has a refreshing approach to the generations-long conflict between entrenched corporate management and shareholder activists. Gramm illustrates this seemingly never ending struggle for corporate control by examining specific well known and surprisingly interesting examples. Dear Chairman is an engaging and worthwhile read." -- -Alan Greenspan, Former Chairman of the Board of Governors, Federal Reserve System "Public companies face the high standards of the marketplace: fill a need, grow, and remember always that you are the trustee of your stockholders' money. Dear Chairman is a fascinating and colorful history. It should be required reading for anyone who wants to participate as investor or manager." -- -Charles R. Schwab, Chairman, The Charles Schwab Corporation -Charles R. Schwab, Chairman, The Charles Schwab Corporation "The story of the rise of shareholder activism has never been told as compellingly and instructively as Jeff Gramm offers it in Dear Chairman, a book that dissects the dramatic deals and brings to life the unbelievable characters of the past 100 years." -- -Arthur Levitt, Former Chairman, U.S. Securities and Exchange Commission -Arthur Levitt, Former Chairman, U.S. Securities and Exchange Commission "When major shareholders get actively involved, how do they think about companies and their value? Jeff Gramm breaks new ground in a book which is exciting, wise, well-written, and above all else instructive and useful." -- -Tyler Cowen, New York Times bestselling author of The Great Stagnation, professor of economics George Mason University "This is a rare book, masterful in both technical understanding and in narrative." -- -Amity Shlaes, author of Coolidge and The Forgotten Man "Jeff Gramm's fascinating archaeology of shareholder activism lays bare the foundation upon which today's turbulent, performance oriented stock market stands. Dear Chairman is an important, interesting, and insightful history." -- Frederick W. Smith Chairman & CEO FedEx Corporation Frederick W. Smith Chairman & CEO FedEx Corporation Frederick W. Smith Chairman & CEO FedEx Corporation Frederick W. Smith, Chairman and CEO, FedEx Corporation "The letters give insight into how shareholder activism can both benefit and harm companies. Gramm's findings will intrigue and inform history buffs and activist shareholders alike. " -- Publishers Weekly

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Book SynopsisCurrency trading techniques you can bank on! Forex trading can be remarkably lucrativeâand complex, confusing, and risky. Too many investors dive right into Forex, suffering big losses. If you want to trade currencies successfully, read this book, take your time, and plan accordingly. The $4 trillion Forex market will be waiting.All About Forex Trading walks you through everything you need to know to make currency trading a vibrant part of your diversified portfolio and generate handsome returnsâregardless of what is happening to stocks and bonds. Whether your investing style is conservative or aggressive, this no-nonsense guide has what you need to build a powerful Forex trading strategy. Learn all there is to know about: What (and who) drives currency prices Investment vehicles for Forex trading Technical analysis techniques Key fundamental indicators Navigating the economic calendar All the traded currenciesâfrom the Americas to EuropeTable of ContentsChapter 1. Forex Basics; Chapter 2. Investment Vehicles for Trading Forex; Chapter 3. What Drives Currency Prices; Chapter 4. Who Drives Currency Prices; Chapter 5. Getting to Know the Currencies; Chapter 6. Navigating the Economic Calendar; Chapter 7. Indicators Forex Traders Watch; Chapter 8. Effective Short-Term Trading Strategies; Chapter 9. Effective Long-Term Investing Strategies; Chapter 10. Who Is Regulating This Market; Chapter 11. Conclusion; Appendix A: Currency Cheat Sheets; Appendix B: Indicator Watchlist

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Book SynopsisThis best-selling dictionary includes more than 3,800 entries covering all aspects of accounting, including financial accounting, financial reporting, management accounting, taxation, auditing, corporate finance, and accounting bodies and institutions. Its international coverage includes important terms from UK, US, Australia, India, and Asia-Pacific. Over 150 new entries have been added to this edition to reflect the very latest developments in the accounting profession, e.g. Accounting Coucil, European Financial Stability Mechanism, and General Anti-Abuse Rule. In addition, existing entries have been updated to cover the latest developments, most notably the Financial Reporting Standard Applicable in the UK and the Republic of Ireland, which sets out new rules in areas such as goodwill, hedge accounting, and fair value accounting. There is increased coverage of topics such as corporate governance, accounting ethics, accounting scandals, and major firms and professional bodies.With itTable of ContentsPreface Credits Dictionary

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Book SynopsisRomesh Vaitilingam is a media consultant and writer. He is the author of numerous articles and several successful titles in finance, including  The Financial Times Guide to Using Economics and Economic Indicators. As a specialist in translating economic and financial concepts into everyday language, Romesh has advised a number of top management consultancies, as well as various UK government agencies. His work also involves media consultancy for the international economic research community. Table of ContentsForeword Introduction The sixth edition Acknowledgements Part 1: Identifying the players 1 Investors2 Companies3 Financial institutions4 Governments Part 2: Interpreting the markets 5 Stocks and shares: the UK equity markets6 Indices and aggregates: market indicators7 NYSE and Nasdaq: the US equity markets8 European equities: stock markets in the eurozone and beyond9 Other international equities: emerging stock markets and world indices10 Trusts and funds: the managed money markets11 Bonds and gilts: the international capital markets12 Cash and currency: the foreign exchange and money markets13 Futures and options: the derivatives markets14 Primary products: the commodities markets Part 3: Understanding the economies 15 UK economic indicators16 The European economy: market integration and monetary union17 The world economy: trade, growth and international institutions Part 4: Beyond the financial pages 18 Company and investor lives: the key performance indicators (by Ken Langdon)19 Sources of information: a brief guide GlossaryAppendix 1: The key ratios guideAppendix 2: The key indices guideIndex

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Book SynopsisFinance provides a dramatic example of the successful application of advanced mathematical techniques to the practical problem of pricing financial derivatives. This self-contained 2002 text is designed for first courses in financial calculus aimed at students with a good background in mathematics. Key concepts such as martingales and change of measure are introduced in the discrete time framework, allowing an accessible account of Brownian motion and stochastic calculus: proofs in the continuous-time world follow naturally. The Black-Scholes pricing formula is first derived in the simplest financial context. The second half of the book is then devoted to increasing the financial sophistication of the models and instruments. The final chapter introduces more advanced topics including stock price models with jumps, and stochastic volatility. A valuable feature is the large number of exercises and examples, designed to test technique and illustrate how the methods and concepts can be appTrade Review' … being relatively short and a paperback must make it appealing to students and those who need a quick introduction to the material. … nicely produced and elegantly laid out. I would consider adopting it as a text for a course in this topic. Publication of the International Statistical Institute'This is a well written textbook which should be suitable for final year undergraduate and first year graduate students having some background in probability theory.' Klaus Schrüger, Zentralblatt MATH' … this is a very well-organized text that makes it easy to learn.' Journal of the Royal Statistical Society'… it was necessary to supply the framework of the book with some theory of stochastic analysis and to provide a mathematical explanation of the notions used.' EMS NewsletterTable of ContentsPreface; 1. Single period models; 2. Binomial trees and discrete parameter martingales; 3. Brownian motion; 4. Stochastic calculus; 5. The Black-Scholes model; 6. Different payoffs; 7. Bigger models; Bibliography and further reading; Notation; Index.

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Book SynopsisMax Gunther''s classic text with a new foreword by Gautam Baid.Luck. We can''t see it, or touch it, but we can feel it. We all know it when we experience it. But does it go deeper than this? And if it goes deeper, does it do so in any way which we can harness to our own and others'' advantage?Taking us on a fascinating tour through the more popular theories and histories of luck - from pseudoscience to paganism, mathematicians to magicians - Max Gunther arrives at a careful set of scientific conclusions as to the true nature of luck, and the possibility of managing it.Drawing out the logical truths hidden in some examples of outrageous fortune (and some of the seemingly absurd theories of its origins), he presents readers with the concise formulae that make up what he calls the ''Luck Factor'' - the five traits that lucky people have in common - and shows how anyone can improve their luck.

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Book SynopsisThe bestselling author of The Millionaire Next Door reveals easy ways to build real wealth With well over two million of his books sold, and huge praise from many media outlets, Dr. Thomas J. Stanley is a recognized and highly respected authority on how the wealthy act and think.Table of ContentsList of Tables ix Preface xi Chapter 1 The Difference between Being Rich and Acting Rich 1 Chapter 2 Everything You Think about Rich Is Wrong 33 Chapter 3 Do the Shoes Make the Man? 59 Chapter 4 Brother, Do You Have the Time? 83 Chapter 5 Keeping Up with Your Spirits 115 Chapter 6 The Grapes of Wrath 145 Chapter 7 The Road to Happiness 171 Chapter 8 Getting Out of the Poorhouse 209 Chapter 9 All that Glitters Is Not the Millionaire’s Goal 235 Appendix A The Nationwide Search for Millionaires 245 Appendix B The Millionaire Profi le 247 Notes 251 Acknowledgments 257 About the Author 259 Index 261

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Book SynopsisTake the risk out of financial risk management Written by bestselling author and past winner of the GARP Award's Risk Manager of the Year, Aaron Brown, Financial Risk Management For Dummies offers thorough and accessible guidance on successfully managing and controlling financial risk within your company.Trade ReviewAaron Brown has produced much more than a how-to manual. Few financial books provide so much solid instruction in as lively and provocative fashion. Financial Risk Management for Dummies ranks with the ten great books on risk.- Martin S. Fridson, CFA, chief investment officer at Lehmann, Livian, Fridson Advisors, LLC, New York CityTable of ContentsIntroduction 1 Part I: Getting Started with Risk Management 5 Chapter 1: Living with Risk.7 Chapter 2: Understanding Risk Models 23 Chapter 3: Taking Charge of Risk 41 Chapter 4: Managing Financial Risk 57 Chapter 5: Functions of a Financial Risk Manager 73 Part II: Measuring Financial Risk 85 Chapter 6: Valuing Risk.87 Chapter 7: Stress Testing for Success 109 Chapter 8: Speaking Greek 125 Chapter 9: Accounting for Extremes 145 Part III: Managing Financial Risk 163 Chapter 10: Setting Limits.165 Chapter 11: Stopping Losses 181 Chapter 12: Controlling Drawdowns 199 Chapter 13: Hedging Bets 215 Part IV: Working in Financial Institutions 237 Chapter 14: Trading Places 239 Chapter 15: Banking on Risk 249 Chapter 16: Managing Assets and Portfolios 261 Chapter 17: Insuring Risk 271 Part V: Communicating Risk 283 Chapter 18: Reporting Risk 285 Chapter 19: Regulating Finance 299 Part VI: The Part of Tens 317 Chapter 20: Ten One-Minute Risk Management Tips 319 Chapter 21: Ten Days that Shook the (Financial) World 327 Chapter 22: Ten Great Risk Managers in History 341 Chapter 23: Ten Great Risk Books 349 Index 355

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Book SynopsisTable of ContentsPreface ix Acknowledgments xxi About the Author xxiii 1 First Thoughts on Deal Sourcing 1 2 Thematic Deal Sourcing 17 3 Opportunistic Deal Sourcing 41 4 Deal Selection— Eliminating the Wrong Deal 63 5 Deal Selection— Identifying the Right Deal 79 6 Assessing the Top Management Team 95 7 Analyzing the Business Plan 113 8 Valuation 159 9 Deal Structuring 185 10 Deal Execution: Transaction Process and Due Diligence 209 11 Deal Execution: Legal Documentation 237 12 Adding Value Through Active Ownership 259 13 Exit Strategies and Deal Monetization 283 References 317 Index 331

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Book SynopsisTable of ContentsIntroduction 1 Part 1: Getting Started with Financial Modeling 5 Chapter 1: Introducing Financial Modeling 7 Chapter 2: Getting Acquainted with Excel 15 Chapter 3: Planning and Designing Your Financial Model 35 Chapter 4: Building a Financial Model by the Rulebook 53 Chapter 5: Using Someone Else’s Financial Model 71 Part 2: Diving Deep into Excel 97 Chapter 6: Excel Tools and Techniques for Financial Modeling 99 Chapter 7: Using Functions in Excel 131 Chapter 8: Applying Scenarios to Your Financial Model 173 Chapter 9: Charting and Presenting Model Output 195 Part 3: Building Your Financial Model 227 Chapter 10: Building an Integrated Financial Statements Model 229 Chapter 11: Building a Discounted Cash Flow Valuation 263 Chapter 12: Budgeting for Capital Expenditure and Depreciation 273 Part 4: The Part of Tens 291 Chapter 13: Ten Strategies for Reducing Error 293 Chapter 14: Ten Common Pitfalls to Avoid 303 Index 315

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Book Synopsis Jason Butler is the founder and senior partner of the award winning Bloomsbury Financial Planning - a referral-only wealth management company. His recent awards include Money Management Financial Planner of the Year and Money Management Estate Planner of the Year. He is a regular writer for the Financial Times, The Schmidt Report and The Chief Executive, and often speaks at events.   Trade Review"Few books have its clarity and none its scope. It simplifies complex issues and shows you not only how to make your money work for you and your family but also how to enjoy it.’' David Kilshaw, Private Client Partner, Ernst & Young LLP “A brilliant book, written in an accessible manner to help you understand the importance of life goals and values in the wealth management process. It is the best book I have ever come across on wealth management.” Dr Lien Luu, Senior Lecturer in Financial Services, Northampton Business School & Certified & Chartered Financial Planner “Many people’s lives would be significantly enhanced by having a great relationship with a financial adviser. Jason’s impeccably researched guide is an insight into how the best financial advisers do business and could help you re-evaluate your relationship with your money.” David Jones, Head of Financial Adviser Services EMEA, Dimensional Fund Advisors “This book, from one of the UK’s leading Financial Planners, provides the essential knowledge that investors need to help them think about and plan for their financial future” Steve Gazzard CFPCM, Chief Executive, Institute of Financial Planning “A practical, easy-to-read guide that provides a framework to help us all achieve our financial goals. This book is essential reading for investors.” Cynthia Poole, Director, Raymond James Investment ServicesTable of ContentsAcknowledgements Publisher’s acknowledgements Introduction PART 1 Wealth planning 1 Know where you are going and why 2. Financial personality and behaviour 3 The power of a plan 4 The role of guidance and advice PART 2 Wealth preservation 5 Investment principles 6 The investment building blocks 7 Socially responsible and impact investing 8 Alternative investments 9 Property, land and woodland 10 Active or passive? 11 Options for investing 12 Other investment consideration 13 The role of insurance PART 3 Wealth enhancement 14 General tax planning 15 Single premium investment bonds 16. Minimising portfolio taxation 17 State and private pensions 18 Managing your pension portfolio PART 4 Wealth transfer and succession 19 Later life planning 20 Wealth succession 21 Using trusts 22 Non-trust structures 23 Young people and money 24 Philanthropy 25 No regrets Useful websites and further reading Index

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