Investment and securities Books

Book SynopsisThis book aims to fill a gap in existing literature in order to contribute to the understanding of the main features and outcomes of the private equity business model that has already been spread around the world. Private equity funds have been drivers of the financialisation of the global economy. Lying at the juncture of the real economy and the shadow banking system, private equity funds draw upon capital and debt to acquire stakes in companies that are intended to be sold for profit after a number of years. Indeed, these institutional investors have a key role in the diversification of global investments. Although US private equity firms are still dominant, the global private equity industry has been mainly moving toward Europe and the Asia-Pacific region. The process of financialisation has contributed to unprecedented social, political, and environmental challenges. In this setting, the complexity of social and economic policy problems of the 21st century requires the recognition of the role of private equity globalization in the selection of investments and in the creation of new business structures. The shifts in corporate ownership, trough waves of mergers and acquisitions, have created new business structures where companies are considered bundles of assets and liabilities to be traded in order to get short-term returns. Indeed, new investment and portfolio management practices have been overwhelmed by the financialisation of wealth and "short-termism" in American and European business. While private equity investors aim to maximize their short-term returns, private equity funds turn to be major transnational employers. The outcomes of the global financial crisis of 2007-2008 made clear the need to redress and redesign business models and re-balance corporate power in order to broaden the dialogue on social responsibility. Maria Alejandra Madi''s book aims to foster a deeper understanding of the ethical challenges related to the private equity financial engineering model. In short, the book aims to prepare the reader for participating in a fruitful debate. The main target is the transformation of the global economy to a more just and sustainable one. This book is recommended for a broad interdisciplinary audience. Not only students in economics, management and international business, but also policy makers, regulators, managers and investors. Reading this book will benefit all those who seek to better understand the complex stakes in the evolution of the capitalist system, in the tensions between short-term profit targets, regulatory policies, and participatory openings in governance and social inclusion.

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Book SynopsisWith over 300,000 copies sold, the new edition of this comprehensive mentoring guide clearly presents all of the essential information needed to learn to trade options. Whereas most options books focus on profit and loss opportunities, this book addresses the issues of hedging market risks in an equity portfolio head on. The author presents the compelling argument that options should not be thought of as risky stand-alone trading vehicles, but offer greater value as a coordinated strategic methodology for managing equity portfolio risks as presented in numerous examples in this book. Divided into four parts, Options reflects a guiding standard of the past nine editions and includes: Crystal clear explanations of the attributes and strategies of calls and puts. A chapter on the short life of an option. This, missing in almost every options book, is a key to understanding options trading. Examples in Part 1 showing different trading strategies on both sides of the trade. The second part of the book is about closing positions; taking profit, exercising, expirations or rolling forward your position, risk analysis, profit calculations, and the impact of volatility. The third part simplifies the complex issues of advanced strategies including the various spreads, combining spreads to successfully hedge other positions and how certain strategies work. Each spread is covered in at least one detailed example. The final part is on evaluating risk. The unquestioned benefits of hedging risk and strategies that are virtually guaranteed to succeed that are generally the domain of the investment giants along with many examples are discussed. The book’s broad coverage makes it an incredibly valuable desk reference to any trader in options. You won’t get explanations like these on the internet. Michael C. Thomsett is a market expert, author, speaker, and coach. His many books include Stock Market Math, Candlestick Charting, The Mathematics of Options, and A Technical Approach to Trend Analysis. Click here to see an interview with the author. https://youtu.be/8bgrgLB3Mx4Table of ContentsPart I: The Basics 1 Chapter 1: Calls and Puts: Defining the Field of Play  3 Equity Investments  3 Debt Investments  4 Investments with No Tangible Value: Options  5 Trading Options on Exchanges  7 Calls and Puts  10 The Call Option  13 The Long-Term Call Option  20 Investment Standards for Call Buyers  21 How Call Selling Works  22 The Put Option  26 Option Valuation  32 Picking the Right Stock  37 Intrinsic Value and Time Value  38 Chapter 2: The Life of an Option  45 Expiration and Exercise  45 What is “Clearing”?  46 Bid and Ask  47 Order Entry  48 Types of Orders  49 Who Are the Players?  49 Chapter 3: Opening and Tracking: How It All Works  51 Terms of the Option (Standardized Terms)  51 Strike Price  51 Expiration Date  52 Type of Option  53 Underlying Stock  54 A Note on the Expiration Cycle  54 Opening and Closing Option Trades  56 Using the Daily Options Listings  56 Understanding Option Abbreviations  59 Calculating the Rate of Return for Sellers  61 Chapter 4: Buying Calls: Maximizing the Rosy View  65 Understanding the Limited Life of the Call  66 Judging the Call  70 Call Buying Strategies  76 Strategy 1: Calls for Leverage  76 Strategy 2: Limiting Risks  80 Strategy 3: Planning Future Purchases  81 Strategy 4: Insuring Profits  82 Strategy 5: Premium Buying  84 Strategy 6: Pure Speculation  85 Defining Profit Zones  87 Chapter 5: Buying Puts: The Positive Side of Pessimism  93 The Limited Life of the Put  95 Judging the Put  101 Put Buying Strategies  106 Strategy 1: Gaining Leverage  107 Strategy 2: Limiting Risks  109 Strategy 3: Hedging a Long Position  110 Strategy 4: Pure Speculation  114 Defining Profit Zones  115 Chapter 6: Selling Calls: Conservative and Profitable  119 Selling Uncovered Calls  121 Assessing Uncovered Call Writing Risks  126 A Question of Suitability  127 Selling Covered Calls  129 Assessing Covered Call Writing Risks  133 Calculating the Rate of Return  134 Chapter 7: Selling Puts: The Overlooked Strategy  139 Analyzing Stock Value  143 Evaluating Risks  145 Put Strategies  146 Strategy 1: Producing Income  147 Strategy 2: Using Idle Cash  149 Strategy 3: Buying Stock  150 Strategy 4: Writing a Covered Put on Short Stock  153 Strategy 5: Creating a Tax Put  153 Part II: Closing the Position  157 Chapter 8: Closing Positions: Profit, Exercise, or Roll  159 Defining Possible Outcomes of Closing Options  159 Results for the Buyer  160 Results for the Seller  160 Exercising the Option  162 Timing the Decision  168 Avoiding Exercise  171 Chapter 9: Paper Trading: A Test Run of the Theory  183 The Case for Paper Trading  185 Sites Worth Checking  187 www.Optionsxpress.com  187 marketwatch.com  188 www.investopedia.com  188 Proceeding with a Paper Trading Plan  188 The Dangers of Paper Trading  189 Chapter 10: Calculating the Return: A Complex Aspect to Options  193 Finding a Realistic Method  193 Annualizing Models and Guidelines  195 An Overview of Basic Calculations for Calls  198 You Close the Position and Calculate Option-Based Net Return  199 You Close the Position and Calculate Net Return Based on the Entire Position  199 The Covered Call is Exercised, and You Calculate Option and Stock Profits Separately  200 Any Covered Call Outcome Is Computed Strictly Based on Capital on Deposit  200 Anticipating the Likely Return  201 Chapter 11: The Basics of Risk: What Every Trader Needs to Know  205 Volatility as the Definition of Risk  205 Historical Volatility  207 Implied Volatility  210 Pricing Models  213 Risk and Human Nature  215 Confirmation Bias  216 Anchoring  216 Herding  217 Framing  217 Selective Memory  218 Loss Aversion  218 Chapter 12: Strategies in Volatile Markets: Uncertainty as an Advantage  221 Avoiding 10 Common Mistakes  222 Modifying Your Risk Tolerance  228 The Nature of Market Volatility  229 Market Volatility Risk  230 Options in the Volatile Environment  235 Part III: Advanced Strategies  241 Chapter 13: Combinations and Spreads: Creative Risk Management  243 Overview of Advanced Strategies  246 The Spread  246 The Hedge  251 The Straddle  252 The Strangle  253 Vertical Spread Strategies  255 Bull Spreads  256 Bear Spreads  258 Box Spreads  262 Debit and Credit Spreads  265 Horizontal and Diagonal Spread Strategies  265 Altering Spread Patterns  270 Varying the Number of Options  271 Expanding the Ratio  274 Strategies with Moneyness Close to Underlying Prices  277 Variations on the Butterfly  280 Multi-Leg Option Orders  281 In Conclusion  282 Chapter 14: Hedges and Straddles: More Creativity  283 The Two Types of Hedges  283 Hedging Beyond Coverage  286 Hedging Option Positions  288 Partial Coverage Strategies  292 Straddle Strategies  295 Middle Loss Zones  295 Middle Profit Zones  298 Theory and Practice of Combined Techniques  301 In Conclusion  302 Chapter 15: Options for Specialized Trading: Leveraging the Technical Approach  303 Swing Trading Basics  305 The Setup Signal  308 Testing the Theory  311 A Strategic View of Option for Swing Trading  313 Selection of Stocks Based on Value  313 A Stock’s Price Volatility  314 Price History (Recent and Potential)  315 The Price-To-Earnings (P/E) Ratio of the Stock  315 Fundamental and Technical Tests of the Company and Stock  316 Options Used for Other Trading Strategies  316 Swing- and Day-Trading Advanced Strategies  317 Taking Partial Profits  318 Partial Exercise  319 Add More Option Contracts in Times of Price Momentum  319 In Conclusion  320 Chapter 16: Options on Futures: Leveraging Your Leverage  321 Important Distinctions  322 Regulatory Differences  326 In Conclusion  328 Chapter 17: Synthetic Positions: Tracking the Stock  331 Synthetic Put (Protected Short Sale)  333 Synthetic Long Call (Insurance Put, or Married Put)  334 Synthetic Long Stock  336 Synthetic Short Stock  338 Split Strike Strategy (Bullish)  340 Split Strike Strategy (Bearish)  342 Collars  343 Synthetic Straddles  350 In Conclusion  353 Part IV: Risk Evaluation  355 Chapter 18: Risk: Rules of the Game  357 Identifying the Range of Risk  357 Margin and Collateral Risk  360 Personal Goal Risks  360 Risk of Unavailable Market  361 Risk of Disruption in Trading  362 Brokerage Risks  363 Trading Cost Risk  363 Lost Opportunity Risks  364 Tax Consequence Risk  365 Evaluating Your Risk Tolerance  366 In Conclusion  367 Chapter 19: Taxes: The Wild Card of Options Trading  369 Tax Rules for Options  369 Qualified Covered Calls—Special Rules  373 Looking to the Future  378 In Conclusion  379 Chapter 20: Choosing Stocks: Finding the Right Ingredients  381 Developing a Covered Call Action Plan  385 Selecting Stocks for Call Writing  387 Benefiting from Price Appreciation  388 Analyzing Stocks  390 Fundamental Tests  394 Technical Tests  398 Deciding Which Tests to Apply  400 Applying Analysis to Options—the “Greeks”  401 Beta  402 Delta  402 The Rest of the Greeks  404 Acting on Good Information  406 Putting Your Rules Down on Paper  407 In Conclusion  408 Glossary  409 Index  409

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Book SynopsisThe findings of this book are based on legal aspects of the majority of the world jurisdictions, and the majority of the existing and new introduced practices to the world stock markets including the role of international commissions, and organizations in this regards. Examination of the stock market efficiency and stability presented in the sixth and seventh chapters is built on empirical investigations, opinions surveys of stock markets experts, and state of arts of the related empirical studies, official reports, and suggested recommendations and best practices. Finally, this book is an attempt to help prevent the next stock market crisis, or to understand how to deal with, in order to shorten the period of declining, shorting the period of recovering, and to reduce the effect of irrational trading during unstable trading.

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Book SynopsisThis book highlights the issue of backdating of stock options and its ramifications. Employee stock options are contracts giving employees the right to buy the company''s common stock at a specified exercise price, at a specified time or during a specified period, and after a specified vesting period. The value of the option when granted lies in the prospect that the market price of the company''s stock will increase by the time the option is exercised (used to purchase stock). At the grant date for the options, rather than selecting an exercise price based on the lower market price; that is, they backdated stock options to an earlier grant date. If this backdating occurred without public disclosure, the recipient of the stock options received increased compensation in violation of Securities and Exchange Commission (SEC) regulations, generally accepted accounting rules, and tax laws. Some backdating is said to involve "sloppiness", not fraud. The backdating of stock options has imposed costs on shareholders, employees, bondholders and taxpayers. This book consists of public documents which have been located, gathered, combined, reformatted, and enhanced with a subject index, selectively edited and bound to provide easy access.

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Book SynopsisThis book examines the dynamic linkages among the federal budget deficit, interest rates and the stock market for the United States from 1960 to 2006. Topics discussed herein include the strategic risk assessment techniques that can be applied to investment and trading portfolios in emerging financial markets, such as in the context of the Gulf Co-operation Council (GCC) stock markets, as well as Africa''s emerging capital markets and the financial crisis and whether the theory of periodically collapsing speculative bubbles can explain the dynamics of East Asian emerging stock market returns.

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Book SynopsisThis book provides an overview of new developments and trends in the stock and securities markets in the United States. Topics discussed include the STOCK Act, insider trading, public financial reporting by federal officials, employee stock options, securities transaction tax; U.S. initial public stock offerings and the JOBS Act, and foreign investment in U.S. securities.

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Book SynopsisThe Small Business Administration''s (SBA''s) Small Business Investment Company (SBIC) Program is designed to enhance small business access to venture capital by stimulating and supplementing "the flow or private equity capital and long term loan funds which small business concerns need for the sound financing of their business operations and for their growth, expansion, and modernisation, and which are not available in adequate supply". Facilitating the flow of capital to small businesses to stimulate the national economy was, and remains, the SBIC program''s primary objective. This book examines small business administration investment and loan programs with a focus on the SBIC; SBA New Markets Venture Capital program; Small Business Administration 7(a) Loan Guaranty Program; the Small Business Administration 504/CDC Loan Guaranty Program; and the microloan program.

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Book SynopsisMuch effort has gone into the study of financial markets and how prices vary with time. The usual approach of random walk is known to be inadequate to fully describe price dynamics. In this book, many different approaches are provided that use alternative and more adequate models. This book also examines the renewal theory in actuarial science. A simple actuarial model can be simulated well by means of this kind of stochastic process. A method dealing with the numerical solution of the renewal equation is presented. In addition, based on a theoretical model for opinion spreading on a network, through avalanches, the effect of external field is now considered, by using methods from non-equilibrium statistical mechanics. Furthermore, it is evident that the 2008-US sub-prime mortgage crisis broadly affected international financial markets. The crisis''s magnitude impacted on Asian financial markets has not had much attention. To fill this gap, the authors examine changes in dependence structures between the US market and Asian financial markets before and after the crisis. The effect of optimal fiscal rules within a stochastic model of Keynesian type in the context of Poole (1970) analysis is derived. The authors extend the original Poole results concerning the output stabilisation properties of monetary policy to the case of fiscal policy. Different stochastic models based on a semi-Markov chains approach are used to study the high frequency price dynamics of traded stocks. The authors show that the models are able to reproduce important stylised facts of financial time series as the persistence of volatility. Finally, a new multi-agent model of the stock market is formulated that contains four states in which the agents may be located.

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Book SynopsisAdvisors, pundits, and academics all parrot the same traditional paradigm of a stock-and-bond-only investment strategy. But what if they’re wrong?Stop Investing Like They Tell You is a practical guide to overcoming the potentially ruinous flaws in an investment portfolio. After operating under the umbrella of a large brokerage firm for over five years, Stephen Spicer CFP® came to realize that his personal investment strategy was incongruent with what he was supposed to, or even allowed to, recommend and grew increasingly uncomfortable with the prescribed advice. Unafraid to challenge the traditional paradigms of a broken system, Stephen built Spicer Capital to address his clients (and his own) investment and financial planning concerns.In Stop Investing Like They Tell You, Stephen challenges traditional advice and guides investors through a comprehensive understanding of the 16 most egregious myths regurgitated throughout the financial industry. Upon completion of this text, readers are also left with confidence as to how they can better invest so as to protect and grow their life savings no matter what chaos the future may hold in store.

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Book SynopsisThe Overseas Private Investment Corporation (OPIC), a wholly-owned U.S. government corporation, is referred to as the U.S. development finance institution (DFI). It provides political risk insurance, project and investment funds financing, and other services to promote U.S. direct investment in developing countries and emerging economies that will have a development impact. It operates under the foreign policy guidance of the Secretary of State. OPICs governing legislation is the Foreign Assistance Act of 1961, as amended. This book discusses OPIC background; international context for development finance; and key issues for Congress related to OPIC. Furthermore, the book assesses OPIC''s monitoring processes to ensure risks associated with current practices are acceptable for meeting OPICs program goals.

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Book SynopsisAn essential leadership guide for engaging the modern, socially responsible consumer. Consumers and investors have elevated their game. They have innovated. And now, leaders must innovate with them or face the consequences. In this engaging and persuasive guide to a brave new world of conscious capitalism, business expert Richard Steel details the inevitability of change in our profits-focused, perpetual-growth capitalist model. Our world economy has become increasingly values-driven, and consumers have begun to do the one thing the capitalist engines of the last 150 years have always feared: care. And not just about price, place, product, promotion, and people. The new P of business-purpose-was born from a dramatically informed, connected, and imperilled human race. With an eye toward the future of corporate sustainability, Elevated Economics provides leaders with: * crucial information on the rise of Environmental, Social, and corporate Governance (ESG) * informative, firsthand interviews with CEOs of successful corporations who actively follow the ESG model * the increasingly viable opportunities for Socially Responsible Investing (SRI) Steele maintains that ESG is not simply a burgeoning trend, and leaders must get on board or risk extinction

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Book SynopsisThe Investment Trusts Handbook 2024 is the seventh edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City’s best-kept secret, or the connoisseur’s choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2024 is an editorially independent educational publication, available through bookshops and extensively online. Described in the media as “truly the definitive guide to the sector”, more than 45,000 copies of the Handbook have been sold or downloaded since launch. With fascinating articles by more than 20 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, including performance figures, trust comings and goings and fund manager histories, the latest edition of the handbook is an indispensable companion for anyone looking to invest in the investment trust sector. Contributors this year include: John Baron, Alan Brierley, James Carthew, Richard Curling, Alex Davies, Simon Edelsten, Simon Elliott, Nick Greenwood, Peter Hewitt, Matt Hose, Max King, Ewan Lovett-Turner, Colette Ord, Peter Spiller, Richard Stone, Stuart Watson and many more. Topics in this year’s 280-page edition include: the impact of rising interest rates, tackling discounts, industry consolidation, the hunt for bargains, the role of boards, alternatives, VCTs, fundraising news, and the editor’s notes and model portfolios. The Investment Trusts Handbook 202 is supported by a number of organisations including abrdn, Asset Value Investors, Baillie Gifford, Columbia Threadneedle Investments, Fidelity International, Invesco, Ocean Dial Asset Management Ltd, Pantheon, Polar Capital, and Schroders.

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Book SynopsisThe 7 Secrets of Money exposes the hidden truths around money that the financial establishment has for too long kept to itself. Written by four well-respected finance professionals, it gives you a clear path to build your investments and meet your life goals. The approach is simple: focus your energies on things you can control – such as saving, spending, costs, taxes and sound financial planning, only taking risks that you know will be rewarded. This places you, the investor, firmly in control of your financial future. The 7 Secrets of Money is the inside track for personal investment success.Trade Review'The 7 Secrets of Money is an easy-to-read guide to how investment works, where the costs arise, what to avoid, and how to choose a financial adviser. Having read this book, the reader will understand the implications of the advice given, and be in a position to make an informed contribution to the decision making process.' -- Janice Trebble, Partner at Saunders and Dolleymore LLP'The 7 Secrets of Money is an essential read for anyone currently investing for their future or considering doing so. It provides a simple, yet powerful, framework for making better investment decisions, avoiding the common mistakes that investors make, and simplifying what needs to be done in practice. Not reading this book will be a costly mistake.' -- Tim Hale, author of Smarter Investing, MD, Albion Strategic Consulting'If you've ever wondered why your portfolio only rises 5% when the markets rise 10%, then this book is for you. You can make your money work harder for you (rather than for others), and you can do it without having to take any greater risks. This book is a must-read for all of us who want to retire with a sense of financial security. Get the strategy right, avoid giving your money away inadvertently, don't take unnecessary risks, and learn how to enjoy your hard-earned income. The authors of this book help you achieve all these objectives in a clear and readily understood manner. I cannot recommend it enough.' -- Mark Baldry, private investor and Senior Consultant, Priorities for Profit'For many years an ever-widening chasm has been growing between individuals and the vast, confusing machine that is the global financial system. This book and the individuals behind it provide a bridge in a readable and comprehensible manner, at once debunking many of the myths and pseudo-science which bedevil finance and at the same time recognising that financial planning is as variable as people themselves. To read this book will take only an hour or so, but it may well be rewarded by a lifetime of contentment and will certainly convince the reader that the fools' gold still peddled far too often by the financial establishment only leads to inevitable disappointment.' -- Paul Bradshaw, chairman of Nucleus Financial GroupTable of ContentsContents List of figures Foreword by George Kinder Introduction Glossary of terms The 7 Secrets 1 There is a financial conspiracy going on 2 The financial press peddles investment pornography 3 You cannot beat the market 4 Some financial risks are really not worth taking 5 Asset allocation is the most crucial decision of all 6 Your behaviour will define your return 7 Investing is simple: control the things you can control Postscript: Keep calm when everyone else is panicking Conclusion: You can be a successful investor Summary:7 steps to investment success Appendices 1 Historical best and worst returns for the investment portfolios detailed in Chapter 5 2 Selection criteria - a list of questions to ask a potential financial adviser 3 Drawing up your income and expenditure accounts and a net worth statement 4 Size and value effects on equity returns Recommended reading About the authors Acknowledgements Notes and references Addendum - The UK Retail Distribution Review Index

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Book SynopsisThere is a foundational crisis in financial theory and professional investment practice: There is little, if any, credible evidence that active investment strategies and traditional institutional quantitative technologies are able to provide superior risk-adjusted, cost-adjusted return over investment relevant horizons. Economic and financial theory has been in error for more than fifty years and is the fundamental cause of the persistent ineffectiveness of professional asset management. Contemporary sociological and economic theory, agent-based modeling, and an appreciation of the social context for preference theory provides a rational and intuitive framework for understanding financial markets and economic behavior. The author narrates his long-term experience in the use and limitations of traditional tools of quantitative asset management as an institutional asset manager in practice and as a quantitative analyst and strategist on Wall Street. Monte Carlo simulation methods, modern statistical tools, and U.S. patented innovations are introduced to redefine portfolio optimality and procedures for enhanced professional asset management. A new social context for expected utility theory leads to a novel understanding of modern equity markets as a financial intermediary for purchasing power constant time-shift investing uniquely appropriate for meeting investor long-term investment objectives. This book addresses the limitations and indicated resolutions for more useful financial theory and more reliable asset management technology. In the process, it traces the major historical developments of theory and institutional asset management practice and their limitations over the course of the 20th century to the present, including Markowitz and the birth of modern finance, CAPM theory and emergence of institutional quantitative asset management, CAPM and VM theory limitations and ineffective iconic tools and strategies, and innovations in statistical methodologies and financial market theory. Table of ContentsChapter 1 : The Birth of Modern Finance.- Chapter 2 : The Birth of Capital Market Theory.- Chapter 3 : Rise of Institutional Quantitative Management.- Chapter 4 : Finance Theory in Crisis.- Chapter 5: The Crisis at the Workbench or Markowitz’s revenge.- Chapter 6: The Michaud Efficient Frontier and Rank-Dependent Utility.- Chapter 7: Statistical Portfolio Management.- Chapter 8: Equity Markets in a Sociological Framework.

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Book Synopsis This book examines the idiosyncratic risk, risk-return trade off and payout decisions for faith-based investors including Islamic Shariah compliant and ethical investors, who may be paying a cost for their belief system in the form of under-diversification of portfolios and additional monitoring costs owing to their unique risk profile. There is a growing number of investors who are motivated by social, environmental, and ethical considerations in their investment decisions. They apply a set of investment screens to include or exclude assets based on ecological, social, corporate governance or ethical criteria. This socially responsible investment (SRI), ethical investment or sustainable investment style is prevalent since religious or ethical values matter to investors even if the risk-adjusted returns are lower than those of conventional investments. The author addresses these issues for Islamic and socially responsible portfolios in detail by using proprietary data of Dow Jones Indices from the United States. The findings are a unique and valuable addition to the existing corporate finance, portfolio management and Islamic finance literature. Table of Contents Why Faith Based Investing? Screening Methodologies and their Implications Comparative Performance of Faith Based Portfolios Screening and Dividend Payout Behaviour The Model Summing up the Final Thoughts

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Book SynopsisIf you have experience in option trading, or a strong understanding of the options markets, but want to better understand how to trade given certain market conditions, this is the book for you. Mark Sebastian's new edition will teach trade evaluation, using Greeks, trading various spreads under different market conditions, portfolio-building, and risk management. Sebastian's approach will help traders understand how to find edge, what kind of trade under what conditions will capture edge, and how to create and successfully hedge. The book demonstrates how to structure a portfolio of trades that makes more money with less risk.

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Book SynopsisThe second edition of this text emphasizes portfolio management as a crucial skill for investors. It covers analysis, selection, and evaluation of portfolios, security analysis methods, market theory, and pricing models. The book includes new examples, exercises, and is recommended for commerce, management, and finance students and professionals.

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Book SynopsisOffers advice from a gambler to traders and investors.

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Book SynopsisValue investing goes beyond traditional measures like low PE or book value. Ashu Dutt highlights how value can be found in various sources and markets, including through structural shifts. In his book, he shares secrets and techniques used by successful investors for wealth-building.

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Book SynopsisThe strength of the book lies in the fact that it is not based on theory or hypothesis, but on the practical experience of a highly successful wealth manager.

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Book SynopsisMany people are looking for the secret to wealth. Well, its not really a secret as there are really only two ways to be wealthier. Increase your income by enhancing your revenue and/or finding new sources of income Decrease your expenses by reducing and/or avoiding current and future living costs You can look at it whichever way you want, but the secret to wealth is to increase your income and/or decrease your expenses. So the real question you must ask yourself is: how do I achieve this? Although its a simple question, this doesnt necessarily mean its easy to answer. Thats what this book is all about. It is a guide that will help you find an answer that suits your own plan.This book contains: A step-by-step guide on how to create your investment plan How you can define your investment objectives How to optimize your financial situation How to invest in your career or a business How to invest in the stock market How to invest in real estate How to invest in other assets such as gold, collections, wine, art, cryptocurrencies, and non-fungible tokens

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Book SynopsisEvery adult human being is an investment expert. Life is an investment exercise and you are your own best investment adviser. Jake van der Kamp is a resident of Hong Kong for more than 40 years. He has enjoyed a varied career, working first as an Asian investment analyst and then as a financial columnist for Hong Kongs South China Morning Post. In this book he offers a how to manual on investment. He argues that you are already your own best adviser on when and what investments to make and you should rely on investment professionals only for advice on how and where to do so.

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Book SynopsisA progeny of Jewish, Irish, and Italian immigrants who escaped war-torn Europe, they take pride in flagrantly spurning Wall Street. Under the thumb of an all-powerful international oil cartel, the energy market had long eluded the grasp of America's hungry capitalists.Trade Review"A riveting tale of greed gone mad. Goodman nails the culture... A great ride for market fans..." -- BusinessWeek "Finance journalist Goodman traces Nymex's transformation into a colossus with a stranglehold on the sale of the world's energy. Goodman explores the lurid culture of Nymex traders, scruffy hustlers who shriek, swear and bring guns, drugs, and hookers right into the trading pit...One of the year's most colorful business histories." -- Publishers Weekly "A seriously informative and amusing look into the oil trading pits." -- Huffington Post "Goodman wrote about Nymex for the Wall Street Journal before expanding her knowledge into a book...The inside look at a mostly closed institution is enlightening. Goodman's details about the infighting within Nymex membership are astounding, mainly because the members don't seem to realize they are destroying their path to wealth." -- Kirkus "Goodman reveals a rough-and-tumble group with little formal education, who dress down, answer to no one, and are tougher than marines. Activities at the exchange are rife with cheating and overindulgence in drugs, prostitutes, and illegal gambling...Biting and infuriating, with even a 'Deep Throat' in the scoop." -- Booklist "In the complex world of the energy markets where pit trading is a blue-collar profession, Goodman captures the grit and spirit of the floor and the personalities in the board room... Her depiction of the players and the place to ring true." -- Reuters "Goodman's book ultimately concludes that the price of oil is determined less by OPEC, and more by a few hundred speculators in Manhattan who are exempted from regulation by means of several loopholes." -- Tom Kloza, OPIS "A rollicking, fast-paced, decades-long tale of a marketplace that sprang out of a potato futures market...When the instability of supply and relentless demand drives up price levels and volatility, these traders do very well indeed. And when that happens, the partying really kicks into high gear." -- National Resources Defense Council "Welcome to a bet-on-anything, testosterone-drenched world...written with tremendous verve and insight." -- AR (Absolute Return + Alpha)

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Book SynopsisDespite the crush of media attention on Madoff's scam, little is known about Madoff himself. What could lead a seemingly good man to ruin the lives of everyone who ever cared about him? What caused Bernie Madoff to commit an unspeakable act of betrayal, bankrupting his family and thousands of investors who depended upon him for their livelihoods?Trade Review"Andrew Kirtzman's Betrayal offers the biggest payoff of the three [Madoff] books. It's a perfect meld of business details and personalities... He has perfect pitch when it comes to the agony and shame of the Jewish community." -- Time magazine "Accurate and highly readable." -- Wall Street Journal "Kirtzman's book is the more engaging read, focusing much more on Madoff himself and on the anger and shame his crimes provoked, whether in the Fifth Avenue Synagogue in New York or the confines of the Palm Beach Country Club in Florida." -- Reuters

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Book SynopsisThe third book in the author's series on the stock market and investment uses interviews with the nation's top traders to illuminate trends in the market in the coming years. Reprint.

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Book SynopsisThe book provides the investing public, real estates practitioners, regulators, and real estate and finance academics with up-to-date information on what modern scholarly research tells us about Real Estate Investment Trusts (REITs). REITs are credited to allow institutional and individual investors to invest in real estate via a corporate entity. The increasing interest in REITs as indicated by their growth in market capitalisation and institutional holdings in the United States and around the world suggests that REITs are becoming an increasingly important part of investors'' diversified portfolio.Trade ReviewThis analysis and synthesis of the existing scholarly research on REITS should enable managers to improve their investment decisions and the operating performance of their portfolios. * Business Horizons *Table of Contents1: Introduction 2: The Origins and Evolution of Real Estate Investment Trusts 3: Organizational Structure 4: Advisor Puzzle 5: REIT Economies of Scale 6: The Impact of Institutional Investors 7: Diversification versus Focus 8: Dividends and Debt Policies of REITs 9: REIT Security Offerings 10: The Performance of REIT Stocks 11: The Predictability of the REIT Stock Market 12: The Future of REITs Appendix Monthly Stock Returns and Performance Index of All Publicly Traded REITs (1962-2000 and 2001-2002) Index

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Book SynopsisThis book provides a comprehensive treatment of behavioural finance. With the use of the latest psychological research, Shefrin helps us to understand the human behaviour that guides stock selection, financial services, and corporate financial strategy. He argues that financial practitioners must acknowledge and understand behavioural finance - the application of psychology to financial behaviour - in order to avoid many of the investment pitfalls caused by human error. Shefrin points out the common but costly mistakes that money managers, security analysts, financial planners, investment bankers, and corporate leaders make, so that readers gain valuable insights into their own financial decisions and those of their employees, asset managers, and advisors.Trade ReviewThis refreshingly iconoclastic book awakens us all to how little we know about financial markets, and how much we have to discover. I particularly enjoyed the reference to the emperor's clothes worn by the mutual fund industry. Shefrin's clear reaffirmation of the fallibility of professional investors will lead even the most impressionable of investors to consider, yet again, the advantages of market indexing strategies.--John Bogle, Founder and Senior Chairman, The Vanguard Group, and author, Common Sense on Mutual FundsThis book helps readers recognize, and avoid, bias and errors in their financial decisions, and modify and, it is hoped, improve their overall investment strategies. * JP Morgan Private Bank Annual Summer Reading List. *Behavioral finance is about normal people and the markets that drive them crazy. Shefrin's insights into these people and markets will provide you with solutions to many financial puzzles--as you read the book and long after you close it.--Meir Statman, Glenn Klimek Professor of Finance, Leavey School of Business, Santa Clara UniversityBeyond Greed and Fear challenges your most fundamental assumptions about investing and uncovers psychological traps that may prevent you from achieving higher returns on your portfolio.--Martin S. Fridson, Managing Director, Merrill Lynch & Co., and author, How to Be a BillionaireShefrin synthesizes a wealth of research and observations about human behavior and financial anomalies into a broad and deep perspective on financial markets. No other book so splendidly lays out the fundamentals of behavioral finance.--Robert Shiller, Stanley B. Resor Professor of Economics, Cowles Foundation for Research in Economics, Yale UniversityBeyond Greed and Fear is the first truly comprehensive behavioral finance book written for practitioners. It should be required reading for portfolio managers and traders.--W. Van Harlow III, President and CIO, Strategic Advisors, Fidelity InvestmentsMost books about financial markets overlook the human element--a serious omission since people matter on Wall Street as well as on Main Street. Beyond Greed and Fear is a fine examination of the budding field of behavioral finance. I recommend it to anyone who intends to trade with other human beings, or who is a human being.--Richard H. Thaler, Robert P. Gwinn Professor of Behavioral Science and Economics, Graduate School of Business, University of ChicagoFinancial practitioners, argues the author, must acknowledege and understand behavioral finance in order to avoid many of the investment pitfalls caused by human error.--Business HorizonsOne edition of this work should be in every investment collection--CHOICE, H. MayoTable of ContentsPART I: WHAT IS BEHAVIORAL FINANCE ; PART II: PREDICTION ; PART III: INDIVIDUAL INVESTORS ; PART IV: INSTITUTIONAL INVESTORS ; PART V: THE INTERFACE BETWEEN CORPORATE FINANCE AND INVESTMENT ; PART VI: OPTIONS, FUTURES, AND FOREIGN EXCHANGE

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Book SynopsisFixed Income Modelling offers a unified presentation of dynamic term structure models and their applications to the pricing and risk management of fixed income securities. It explains the basic fixed income securities and their properties and uses as well as the relations between those securities. The book presents and compares the classical affine models, Heath-Jarrow-Morton models, and LIBOR market models, and demonstrates how to apply those models for the pricing of various widely traded fixed income securities. It offers a balanced presentation with both formal mathematical modelling and economic intuition and understanding. The book has a number of distinctive features including a thorough and accessible introduction to stochastic processes and the stochastic calculus needed for the modern financial modelling approach used in the book, as well as a separate chapter that explains how the term structure of interest rates relates to macro-economic variables and to what extent the conTrade ReviewI enjoyed reading the book. Claus Munk manages to present many demanding topics in a very clear and understandable way. The book is well suited as a textbook on fixed income for advanced finance students. I also recommend reading to researchers and finance professionals. * Antje Mahayni, Journal of Economics October 2012, Volume 107, Issue 2, pp 195-197 *Table of ContentsPreface ; 1. Introduction and overview ; 2. Extracting Yield Curves from Bond Prices ; 3. Stochastic Processes and Stochastic Calculus ; 4. A Review of General Asset Pricing Theory ; 5. The Economics of the Term Structure of Interest Rates ; 6. Fixed Income Securities ; 7. One-factor Diffusion Models ; 8. Multi-factor Diffusion Models ; 9. Calibration of Diffusion Models ; 10. Heath-Jarrow-Morton Models ; 11. Market models ; 12. The Measurement and Management of Interest Rate Risk ; 13. Defaultable Bonds and Credit Derivatives ; 14. Mortgages and Mortgage-backed Securities ; 15. Stock and Currency Derivatives when Interest Rates are Stochastic ; 16. Numerical Techniques ; Appendix: Results on the Lognormal Distribution

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Book SynopsisThere is a profound linkage between the quality of a university and its financial resources. The universities of Oxford and Cambridge rank among the world''s finest educational institutions, and are able to draw on invested assets that are large by any standards. Endowment Asset Management explores how the colleges that comprise these two great universities make their investment decisions.Oxford and Cambridge are collegiate institutions, each consisting of a federal university and over 30 constituent colleges. While the colleges may have ostensibly similar missions, they are governed independently. Since they interpret their investment objectives differently, this gives rise to some remarkably dissimilar approaches to investment, which the authors explore in detail.The first study of its kind, Endowment Asset Management analyses the objectives, investment philosophy, asset management and governance of over 60 college and university endowment funds. Drawing on exhaustive research and detailed discussions with Oxford and Cambridge investment bursars, the authors investigate issues such as asset allocation and spending policy, which have a major influence on the institutions'' financial health. This study reveals the colleges'' individualism and diversity, and carefully analyses their strategies, which range from the traditional to cutting edge.The authors'' findings are thought provoking for anyone concerned with the assets of foundations, endowments, charities, family offices, or trusts. All investors with a long-term investment horizon will find it extremely engaging.Trade ReviewAll in all, Archarya & Dimson are to be hugely praised for producing a really useful and solid book, full of thought-provoking and stimulating material * David Palfreyman, Oxford Magazine *A thought provoking read. * Wealth Management *Table of Contents1. Endowment Definition ; 2. The Investment Committee ; 3. Investment Objective ; 4. Spending Policy ; 5. Asset Allocation ; 6. Investing in Property ; 7. Issues in Portfolio Management ; 8. Portfolio Risk ; 9. Consultant Selection and Monitoring ; 10. Manager Selection and Monitoring ; 11. Socially Responsible Investment ; 12. Performance Measurement ; 13. Endowment Management Cost ; 14. Fund Raising: Role of Gifts ; 15. Conclusion

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Book SynopsisFocusing on the law and practice of auctions, this text looks at various aspects of auction practice, from the economics of auction sales and restrictions on trading to criminal and other liabilities of the auctioneer. It also includes a chapter on VAT.Trade ReviewReview from previous edition ...the authoritative work on English auction law. ... Unlike many legal books it is accessible to the layman and covers most questions asked by buyers, sellers and auctioneers. ...this book should be the first port of call for commentary on the present position. * Antiques Trade Gazette 13/4/1996 *Table of Contents1. The Evolution and Economics of Auction Sales ; 2. Auctioneers: Restrictions on Trading ; 3. Capacity and Authority ; 4. The Rights of an Auctioneer ; 5. Duties and Liabilities of the Auctioneer ; 6. Conditions of Sale Affecting Buyers and Bidders ; 7. Export Licensing ; 8. Criminal Practices at Auctions and their Consequences ; 9. Sales of Land by Auction or Tender ; 10. Vehicle Auctions and Specialized Auctions of Other Property ; 11. Sales by Vendors in Special Positions ; 12. Value Added Tax

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Book SynopsisConnections among different assets, asset classes, portfolios, and the stocks of individual institutions are critical in examining financial markets. Interest in financial markets implies interest in underlying macroeconomic fundamentals. In Financial and Macroeconomic Connectedness, Frank Diebold and Kamil Yilmaz propose a simple framework for defining, measuring, and monitoring connectedness, which is central to finance and macroeconomics. These measures of connectedness are theoretically rigorous yet empirically relevant. The approach to connectedness proposed by the authors is intimately related to the familiar econometric notion of variance decomposition. The full set of variance decompositions from vector auto-regressions produces the core of the ''connectedness table.'' The connectedness table makes clear how one can begin with the most disaggregated pair-wise directional connectedness measures and aggregate them in various ways to obtain total connectedness measures. The authorTrade ReviewDiebold and Yilmaz's timely book develops powerful new network tools for understanding the inter-dependence of risks in large-scale financial systems. These tools shed important new light on past financial crises and will fill an important gap in the monitoring of systemic risk going forward. * Peter Christoffersen, Professor of Finance, Rotman School of Management, University of Toronto. *The aftermath of the Lehman bankruptcy revealed that economists lacked understanding of the linkages within the financial industry and across the different sectors of the economy. The book by Frank Diebold and Kamil Yilmaz has many fresh ideas and new tools to study this very important topic. It is a must-read for anybody interested in this burgeoning area of research. * Eric Ghysels, Bernstein Distinguished Professor of Economics and Professor of Finance, University of North Carolina, Chapel Hill *We live in a highly integrated world economy with much stronger cross-border connections today than any other time in history. We need to have a better grasp of these connections as they are now at the heart of everyday macroeconomics and finance. Diebold and Yilmaz provide a masterful framework that greatly enhances our understanding of these connections. They also open new research avenues by showing practical applications of their framework in different contexts. And all of these make their book a classical reference on the topic. * Ayhan Kose, Director, Development Prospects Group, The World Bank *Table of ContentsChapter 1: Measuring and Monitoring Connectedness ; Chapter 2: U.S. Asset Classes ; Chapter 3: Major U.S. Financial Institutions ; Chapter 4: Global Stock Markets ; Chapter 5: Sovereign Bond Markets ; Chapter 6: Foreign Exchange Markets ; Chapter 7: Assets Across Countries ; Chapter 8: Global Business Cycles

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Book SynopsisFixed Income Modelling offers a unified presentation of dynamic term structure models and their applications to the pricing and risk management of fixed income securities. It explains the basic fixed income securities and their properties and uses as well as the relations between those securities. The book presents and compares the classical affine models, Heath-Jarrow-Morton models, and LIBOR market models, and demonstrates how to apply those models for the pricing of various widely traded fixed income securities. It offers a balanced presentation with both formal mathematical modelling and economic intuition and understanding. The book has a number of distinctive features including a thorough and accessible introduction to stochastic processes and the stochastic calculus needed for the modern financial modelling approach used in the book, as well as a separate chapter that explains how the term structure of interest rates relates to macro-economic variables and to what extent the conTrade ReviewI enjoyed reading the book. Claus Munk manages to present many demanding topics in a very clear and understandable way. The book is well suited as a textbook on fixed income for advanced finance students. I also recommend reading to researchers and finance professionals. * Antje Mahayni, Journal of Economics October 2012, Volume 107, Issue 2, pp 195-197 *Table of ContentsPreface ; 1. Introduction and overview ; 2. Extracting Yield Curves from Bond Prices ; 3. Stochastic Processes and Stochastic Calculus ; 4. A Review of General Asset Pricing Theory ; 5. The Economics of the Term Structure of Interest Rates ; 6. Fixed Income Securities ; 7. One-factor Diffusion Models ; 8. Multi-factor Diffusion Models ; 9. Calibration of Diffusion Models ; 10. Heath-Jarrow-Morton Models ; 11. Market models ; 12. The Measurement and Management of Interest Rate Risk ; 13. Defaultable Bonds and Credit Derivatives ; 14. Mortgages and Mortgage-backed Securities ; 15. Stock and Currency Derivatives when Interest Rates are Stochastic ; 16. Numerical Techniques ; Appendix: Results on the Lognormal Distribution

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