Investment and securities Books
John Wiley & Sons Inc Restructuring the Hold
Book SynopsisEstablishing an effective partnership and achieving improved outcomes for investors and management teams during the hold cycle Private equity represents a productive and fast-growing asset classbuilding businesses, creating jobs, and providing unlimited opportunity for investors and management teams alike, particularly if they know how to work together in candid and effective partnerships. Restructuring the Hold demonstrates how investors and managers can best work together to optimize company performance and the associated rewards and opportunities for everyone, not just the investors. Through brief references to the parable of the Gramm Company, a middle market portfolio company, readers will follow the disappointments and triumphs of a management team experiencing their first hold period under private equity ownership, from the day they get purchased through the day they get sold. Restructuring the Hold provides the reader both general kTable of ContentsList of Figures xi Foreword xv Preface xxi About the Authors xxv Acknowledgments xxix Introduction 1 Core Audience 4 Organization of the Book 6 Chapter 1: Private Equity 9 The Asset Class 11 The Middle-Market 17 The Investment Cycle 22 The Motivation 24 Chapter 2: New Ownership 31 The Ideal Partnership 33 Anticipating Management Sentiment 36 Key Investment Period Roles 42 Operating Partner Involvement 49 Core Values 55 Chapter 3: Month 1: Consternation 59 Onboarding Together 62 Confirming Portco Leadership 69 Teaming Authentically 77 Overcoming Resistance 81 Chapter 4: Month 2: This Might Be Okay 87 Baselining the Investment Period 90 Reporting Monthly Financials 94 Starting with Momentum 97 Identifying Value Sources 101 Chapter 5: Month 3: Guarded Enthusiasm 113 Generating and Aggregating Ideas 116 Evaluating and Prioritizing Opportunities 122 Profiling and Planning Initiatives 127 Suspending Strategic Planning Formalities 137 Finalizing the Value Creation Plan 141 Chapter 6: Quarter 2: A Bit Overwhelmed 147 Ensuring Leadership Coverage 150 Organizing the Value Creation Team 159 Managing the Value Creation Program 162 Targeting, Tracking, and Triaging Value Creation 165 Chapter 7: Quarter 3: Gaining Momentum 173 Managing with Performance Indicators 176 Standardizing Operating Cadence 182 Incorporating the Board of Directors 189 Overcoming Bumps in the Road 195 Chapter 8: Quarter 4: Ringing the Bell 203 Confirming VCP Results 206 Rewarding Success 210 Planning Strategy Pragmatically 212 Integrating Plans and Budgets 216 Investment Period Outputs 227 Chapter 9: Year 2: Improving Infrastructure 229 Organizing Effectively 231 Operating Efficiently 238 Sourcing Strategically and Spending Economically 247 Financing Internally 256 Chapter 10: Year 3: Expanding Beyond 263 Optimizing Profitability 266 Pricing Intelligently 271 Pipelining Systematically 279 Integrating Pragmatically 286 Chapter 11: Year X: The Exit 297 Exit Timing 300 The Exit Process 302 Exit Preparation 305 Enjoying the Rewards 309 Chapter 12: Conclusion 313 References 317 Index 319
£29.44
John Wiley & Sons Inc Portfolio Management in Practice Volume 1
Book SynopsisThe companion workbook to the Investment Management volume in the CFA Institute's Portfolio Management in Practice series provides students and professionals with essential practice regarding key concepts in the portfolio management process. Filled with stimulating exercises, this text is designed to help learners explore the multifaceted topic of investment management in a meaningful and productive way. The Investment Management Workbook is structured to further readers' hands-on experience with a variety of learning outcomes, summary overview sections, challenging practice questions, and solutions. Featuring the latest tools and information to help users become confident and knowledgeable investors, this workbook includes sections on professionalism in the industry, fintech, hedge fund strategies, and more. With the workbook, readers will learn to: Form capital market expectations Understand the principles of the asseTable of ContentsPart I Learning Objectives, Summary Overview, and Problems 1 Chapter 1 Professionalism in the Investment Management 3 Learning Outcomes 3 Summary 3 Practice Problems 4 Chapter 2 Fintech in Investment Management 5 Learning Outcomes 5 Summary 5 Practice Problems 6 Chapter 3 Capital Market Expectations, Part 1: Framework and Macro Considerations 9 Learning Outcomes 9 Summary 10 Practice Problem 13 Chapter 4 Capital Market Expectations, Part 2: Forecasting Asset Class Returns 21 Learning Outcomes 21 Summary 22 Practice Problems 25 Chapter 5 Overview of Asset Allocation 35 Learning Outcomes 35 Summary 35 Practice Problems 37 Chapter 6 Principles of Asset Allocation 39 Learning Outcomes 39 Summary 40 Practice Problems 41 Chapter 7 Asset Allocation with Real-World Constraints 51 Learning Outcomes 51 Summary 51 Practice Problems 53 Chapter 8 Currency Management: An Introduction 63 Learning Outcomes 63 Summary 63 Practice Problems 66 Chapter 9 Overview of Fixed-Income Portfolio Management 79 Learning Outcomes 79 Summary 79 Practice Problems 81 Chapter 10 Liability-Driven and Index-Based Strategies 87 Learning Outcomes 87 Summary 87 Practice Problems 91 Chapter 11 Overview of Equity Portfolio Management 101 Learning Outcomes 101 Summary 101 Practice Problems 102 Chapter 12 Passive Equity Investing 105 Learning Outcomes 105 Summary 105 Practice Problems 107 Chapter 13 Active Equity Investing: Strategies 113 Learning Outcomes 113 Summary 113 Practice Problems 115 Chapter 14 Hedge Fund Strategies 121 Learning Outcomes 121 Summary 121 Practice Problems 124 Chapter 15 Overview of Private Wealth Management 131 Learning Outcomes 131 Summary 131 Practice Problems 133 Chapter 16 Topics in Private Wealth Management 141 Learning Outcomes 141 Summary 141 Practice Problems 144 Chapter 17 Portfolio Management for Institutional Investors 151 Learning Outcomes 151 Summary 152 Practice Problems 155 Chapter 18 Trade Strategy and Execution 163 Learning Outcomes 163 Summary 163 Practice Problems 165 Chapter 19 Portfolio Performance Evaluation 175 Learning Outcomes 175 Summary 176 Practice Problems 177 Chapter 20 Investment Manager Selection 181 Learning Outcomes 181 Summary 181 Practice Problems 183 Part II Solutions 199 Chapter 1 Professionalism in the Investment Management 201 Solutions 201 Chapter 2 Fintech in Investment Management 203 Solutions 203 Chapter 3 Capital Market Expectations, Part I: Framework and Macro Considerations 205 Solutions 205 Chapter 4 Capital Market Expectations, Part II: Forecasting Asset Class Returns 211 Solutions 211 Chapter 5 Overview of Asset Allocation 219 Solutions 219 Chapter 6 Principles of Asset Allocation 221 Solutions 221 Chapter 7 Asset Allocation with Real-World Constraints 229 Solutions 229 Chapter 8 Currency Management: An Introduction 235 Solutions 235 Chapter 9 Overview of Fixed-Income Portfolio Management 249 Solutions 249 Chapter 10 Liability-Driven and Index-Based Strategies 253 Solutions 253 Chapter 11 Overview of Equity Portfolio Management 259 Solutions 259 Chapter 12 Passive Equity Investing 263 Solutions 263 Chapter 13 Active Equity Investing: Strategies 267 Solutions 267 Chapter 14 Hedge Fund Strategies 273 Solutions 273 Chapter 15 Overview of Private Wealth Management 283 Solutions 283 Chapter 16 Topics in Private Wealth Management 291 Solutions 291 Chapter 17 Portfolio Management for Institutional Investors 299 Solutions 299 Chapter 18 Trade Strategy and Execution 305 Solutions 305 Chapter 19 Portfolio Performance Evaluation 315 Solutions 315 Chapter 20 Investment Manager Selection 319 Solutions 319 About the CFA Program 333
£36.09
John Wiley & Sons Inc Activate Your Money
Book SynopsisEducate yourself about finance and socially conscious investing with a woman-centered approach Activate Your Money provides the foundational support women need to talk to each other about their money, invest to grow their wealth, and to take the actions required to shift their assets into alignment with their values. Written for smart, savvy women who want to feel financially empowered, Activate Your Money starts where other personal finance books leave off. It delivers the depth of information you need to make informed investment decisions across your entire portfolio. Starting with checking and savings accounts and proceeding asset class by asset class, this book provides you with core investment knowledge, as well as concrete examples about how and where you can invest your money in alignment with your values. You don''t have to do it alone. As women, our strength is in relationships, and this book will help you use that strength to attain betteTable of ContentsPreface: Welcome to a Brave New World xiii Part 1 Establishing Your Foundation 1 Chapter 1 Values-Aligned Investing: Step into Your Financial Power 3 Chapter 2 Your Relationship with Money: Invest with Your Heart and Mind 15 Chapter 3 Your Financial Foundation: Master Some Core Principles 31 Part 2 Crafting an Aligned Portfolio 53 Chapter 4 Cash: Activate Your Savings and Checking Accounts 55 Chapter 5 Cash Alternatives: Yield Higher Returns for Idle Cash 77 Chapter 6 Fixed Income: Grasp the Potential of Bonds 87 Chapter 7 Public Equities: Invest in the Stock Market with Confidence 113 Chapter 8 Public Equities: Select Values-Aligned Investments 133 Chapter 9 Private Investments: Explore Private Debt, Private Equity, and Angel Investing 153 Chapter 10 Alternative Investments: Achieve Deeper Diversification and Impact 177 Chapter 11 Maximize Your Philanthropy: Finish with Grants and Concessionary Investing 199 Part 3 Building a Community of Support 221 Chapter 12 Professional Support: Find Values-Aligned Financial Advisors 223 Chapter 13 Retirement Accounts: Build Values into IRAs and Employer Plans 243 Chapter 14 Gather Your Friends: Get Together for Fun and Profit 261 Conclusion Stepping into Your Financial Future 273 Glossary275 Acknowledgments 285 About the Author 289 Index 291
£19.54
John Wiley & Sons Inc Fundamentals of Financial Instruments
Book SynopsisTable of ContentsPreface xxiii Preface to the First Edition xxiv Acknowledgments xxv About the Author xxvi Chapter 1 An Introduction to Financial Institutions, Instruments, and Markets 1 The Role of an Economic System 1 A Command Economy 2 AMarket Economy 2 Classification of Economic Units 4 An Economy’s Relationship with the ExternalWorld 6 The Balance of Trade 8 The Current Account Balance 8 Financial Assets 9 Money 10 Money as a Unit of Account or a Standard of Value 10 Money as a Medium of Exchange 11 Money as a Store of Value 11 Money Is Perfectly Liquid 11 Equity Shares 12 Debt Securities 12 Preferred Shares 14 Foreign Exchange 14 Derivatives 14 Forward and Futures Contracts 15 Options Contracts 16 Swaps 18 Mortgages and Mortgage-backed Securities 19 Hybrid Securities 19 Primary Markets and Secondary Markets 19 Exchanges and Over-the-Counter (OTC) Markets 21 Brokers and Dealers 22 The Need for Brokers and Dealers 23 Trading Positions 24 The Buy-side and the Sell-side 25 Investment Bankers 25 Direct and Indirect Markets 26 Mutual Funds 27 Money and Capital Markets 30 The Eurocurrency Market 31 The International Bond Market 32 Globalization of Equity Markets 34 Dual Listing 35 Fungibility 37 Arbitrage 37 Arbitrage with ADRs 38 GDRs 39 Risk 39 After the Trade – Clearing and Settlement 41 Dematerialization and the Role of a Depository 42 Custodial Services 43 Globalization – The New Mantra 43 Chapter 2 Mathematics of Finance 46 Interest Rates 46 The Real Rate of Interest 46 The Fisher Equation 48 Simple Interest & Compound Interest 49 Variables and Corresponding Symbols 50 Simple Interest 50 Compound Interest 51 Properties 53 Effective Versus Nominal Rates of Interest 55 A Symbolic Derivation 56 Principle of Equivalency 56 Continuous Compounding 57 Future Value 58 Present Value 59 The Mechanics of Present Value Calculation 59 Handling a Series of Cash Flows 60 The Internal Rate of Return 61 Evaluating an Investment 63 The Future Value Approach 63 The Present Value Approach 63 The Rate of Return Approach 63 Annuities: An Introduction 64 Present Value 64 Future Value 65 Annuity Due 66 Present Value 66 Future Value 67 Perpetuities 67 The Amortization Method 68 Amortization with a Balloon Payment 70 The Equal Principal Repayment Approach 71 Types of Interest Computation 71 The Simple Interest Approach 72 The Add-on Rate Approach 72 The Discount Technique 73 Loans with a Compensating Balance 73 Time Value of Money–related Functions in Excel 73 The Future Value (FV) Function in Excel 74 The Present Value Function in Excel 75 Computing the Present and Future Values of Annuities and Annuities Due in Excel 75 Amortization Schedules and Excel 76 Chapter 3 Equity Shares, Preferred Shares, and Stock Market Indices 78 Introduction 78 Par Value Versus Book Value 79 Accounting for a Stock Issue 80 Voting Rights 80 Statutory Versus Cumulative Voting 81 Proxies 81 Dividends 82 Dividend Yield 83 Dividend Reinvestment Plans 84 Stock Dividends 85 Treasury Stock 86 Accounting for Treasury Stock 86 Splits and Reverse Splits 87 Costs Associated with Splits and Stock Dividends 89 Preemptive Rights 89 Interpreting Stated Ratios 91 Handling Fractions 91 Physical Certificates Versus Book Entry 92 Tracking Stock 92 Report Cards 93 Types of Stocks 93 Interest-sensitive Stocks 93 Risk and Return and the Concept of Diversification 94 Preferred Shares 96 Callable Preferred Stock 97 Convertible Preferred Shares 97 Cumulative Preferred Shares 98 Adjustable-Rate Preferred Shares 100 Participating Preferred Shares 100 Dividend Discount Models 100 A General Valuation Model 101 The Constant Growth Model 102 The Two-Stage Model 102 The Three-Stage Model 103 The H Model 105 Stock Market Indices 105 Price-weighted Indices 105 Changing the Divisor 107 The Importance of Price 109 Value-weighted Indices 110 Changing the Divisor 111 Changing the Base Period Capitalization 113 EquallyWeighted Indices 113 Tracking Portfolios 114 Rebalancing a Tracking Portfolio 114 EquallyWeighted Portfolios 114 Price-weighted Portfolios 116 Rights Issues 117 Value-weighted Portfolios 117 Handling a Rights Issue 119 The Free-floating Methodology 120 Well-known Global Indices 121 Margin Trading and Short-selling 121 Terminology 121 Case A: The Market Rises 124 Case B: The Market Declines 124 Case A: The Market Rises 125 Case B: The Market Declines 125 Interest and Commissions 125 Case A: The Market Rises 126 Case B: The Market Declines 126 Maintenance Margin 126 Short-selling 127 Maintenance of a Short Position 130 Shorting Against the Box 131 The Risk Factor 131 The Economic Role of Short Sales 132 The Uptick Rule 132 Chapter 4 Bonds 134 Introduction 134 Terms Used in the Bond Market 136 Face Value 136 Term to Maturity 136 Coupon 136 Yield to Maturity 137 Valuation of a Bond 137 Par, Premium, and Discount Bonds 138 Evolution of the Price 139 Zero-coupon Bonds 140 Valuing a Bond in Between Coupon Dates 141 Day-Count Conventions 142 Actual-Actual 142 The Treasury’s Approach 143 Corporate Bonds 144 Accrued Interest 144 Negative Accrued Interest 145 Yields 146 The Current Yield 147 Simple Yield to Maturity 148 Yield to Maturity 148 Approximate Yield to Maturity 149 Zero-coupon Bonds and the YTM 150 Analyzing the YTM 150 The Realized Compound Yield 152 Reinvestment and Zero-Coupon Bonds 152 The Holding Period Yield 153 Taxable Equivalent Yield 153 Credit Risk 154 Bond Insurance 156 Equivalence with Zero-coupon Bonds 156 Spot Rates 156 The Coupon Effect 157 Bootstrapping 158 Forward Rates 158 The Yield Curve and The Term Structure 159 Shapes of the Term Structure 159 Theories of the Term Structure 160 The Pure or Unbiased Expectations Hypothesis 160 The Liquidity Premium Hypothesis 160 The Money Substitute Hypothesis 161 The Market Segmentation Hypothesis 161 The Preferred Habitat Theory 161 The Short Rate 162 Floating Rate Bonds 163 Simple Margin 165 Bonds with Embedded Options 165 Callable Bonds 165 Yield to Call 166 Putable Bonds 167 Convertible Bonds 168 Using Short Rates to Value Bonds 168 Price Volatility 170 A Concise Formula 171 Duration and Price Volatility 171 Properties of Duration 172 Dollar Duration 172 Convexity 172 A Concise Formula 174 Dollar Convexity 175 Properties of Convexity 175 Immunization 175 Analysis 176 Treasury Auctions 177 When Issued Trading 179 Price Quotes 179 STRIPS 179 Inflation Indexed Bonds 180 Computing Price Given Yield and Vice Versa in Excel 182 Computing Duration in Excel 185 Chapter 5 Money Markets 187 Introduction 187 Market Supervision 190 The Federal Reserve System 190 Key Dates in the Case of Cash Market Instruments 191 The Modified Following Business Day Convention 192 The End/End Rule 192 The Interbank Market 193 Types of Loans 193 LIBOR 194 LIBID 194 SONIA 194 Transitioning from LIBOR 195 Interest Computation Methods 195 Term Money Market Deposits 197 Money Market Forward Rates 197 Federal Funds 198 Federal Funds Versus Clearinghouse Funds 199 Correspondent Banks: Nostro and Vostro Accounts 200 Treasury Bills 200 Reopenings 201 Yields on Discount Securities 202 Notation 202 Discount Rates and T-bill Prices 202 The Bond Equivalent Yield (BEY) 203 Case A: Tm < 182 days 203 The Money Market Yield 205 Case B: Tm > 182 days 205 Holding Period Return 207 Value of an 01 208 Concept of Carry 208 Concept of a Tail 208 T-Bill Related Functions in Excel 209 TBILLPRICE 209 TBILLYIELD 210 TBILLEQ 210 DISC 210 Treasury Auctions 211 Types of Auctions 211 Results of an Auction 212 Primary Dealers and Open Market Operations 213 Repurchase Agreements 213 Reverse Repos 214 General Collateral Versus Special Repos 215 Margins 215 Sale and Buyback 217 Collateral 217 Repos and Open Market Operations 217 Negotiable CDs 218 Notation 218 Cost of a CD for the Issuing Bank 221 Term CDs 221 CDs Versus Money Market Time Deposits 224 Commercial Paper 224 Letters of Credit and Bank Guarantees 225 Yankee Paper 226 Credit Rating 227 Moody’s Rating Scale 227 S&P’s Rating Scale 227 Fitch’s Rating Scale 228 Bills of Exchange 228 Documents Against Payment (DAP) Versus Documents Against Acceptance (DAA) Transactions 230 Eligible and Noneligible Bank Bills 230 Buying and Selling Bills 230 Bankers’ Acceptance 231 Acceptance Credits 232 Eurocurrency Deposits 232 Appendix 234 Chapter 6 Forward and Futures Contracts 235 Introduction 235 Marking to Market for a Trader in Practice 242 Delivery Options 242 Profit Diagrams 242 Value at Risk 244 The Expected Shortfall 245 Spot-Futures Equivalence 246 Products and Exchanges 247 Cash-and-carry Arbitrage 247 Reverse Cash-and-carry Arbitrage 247 Repo and Reverse Repo Rates 248 Synthetic Securities 248 Valuation 248 The Case of Assets Making Payouts 249 Physical Assets 250 Net Carry 252 Backwardation and Contango 252 The Case of Multiple Deliverable Grades 253 Risk Arbitrage 255 The Case of Multiplicative Adjustment 255 The Case of Additive Adjustment 256 Trading Volume and Open Interest 259 Delivery 261 Cash Settlement 262 Hedging and Speculation 262 Rolling a Hedge 264 Tailing a Hedge 264 The Minimum Variance Hedge Ratio 265 Estimation of the Hedge Ratio and the Hedging Effectiveness 266 Cross-hedging 266 Speculation 266 Leverage 268 Contract Value 269 Forward Versus Futures Prices 270 Hedging the Rate of Return on a Stock Portfolio 271 Changing the Beta 272 Program Trading 273 Stock Picking 275 Portfolio Insurance 277 Importance of Futures 279 Chapter 7 Options Contracts 280 Introduction 280 Notation 282 Exercising Options 282 Moneyness 285 Exchange-Traded Options 286 Option Class and Option Series 287 FLEX Options 287 Contract Assignment 288 Adjusting for Corporate Actions 288 Nonnegative Option Premia 289 Intrinsic Value and Time Value 289 Time Value of American Options 290 Time Value at Expiration 291 Put-Call Parity 291 Implications for the Time Value 294 Put-Call Parity with Dividends 295 Implications for the Time Value 296 A Very Important Property for American Calls 297 Early Exercise of Options: An Analysis 298 Profit Profiles 299 Speculation with Options 301 Hedging with Options 303 Using Call Options to Protect a Short Position 303 Using Put Options to Protect a Long Spot Position 304 Valuation 305 The Binomial Option Pricing Model 307 The Two-period Model 309 Valuation of European Put Options 310 Valuing American Options 311 Implementing the Binomial Model in Practice 312 The Black-Scholes Model 313 Put-Call Parity 314 Interpretation of the Black-Scholes Formula 314 The Greeks 315 Option Strategies 316 Bull Spreads 316 Bear Spreads 318 Butterfly Spread 320 The Convexity Property 321 A Straddle 323 A Strangle 324 Futures Options 326 Put-Call Parity 327 The Black Model 327 Chapter 8 Foreign Exchange 329 Introduction 329 Currency Codes 330 Base and Variable Currencies 330 Direct and Indirect Quotes 331 European Terms and American Terms 331 Bid and Ask Quotes 331 Appreciating and Depreciating Currencies 332 Converting Direct Quotes to Indirect Quotes 333 Points 333 Rates of Return 334 The Impact of Spreads on Returns 335 Arbitrage in Spot Markets 336 One-Point Arbitrage 336 Two-Point Arbitrage 336 Triangular Arbitrage 337 Cross Rates 338 Market Rates and Exchange Margins 339 Value Dates 340 The Forward Market 340 Outright Forward Rates 341 Swap Points 341 Broken-Dated Contracts 343 Covered Interest Arbitrage 344 A Perfect Market 345 Foreign Exchange Swaps 346 The Cost 347 The Motive 348 Interpretation of the Swap Points 349 A Clarification 350 Short-Date Contracts 350 Option Forwards 353 Nondeliverable Forwards 356 Range Forwards 357 Futures Markets 357 Hedging Using Currency Futures 357 A Selling Hedge 357 A Buying Hedge 358 Exchange-Traded Foreign Currency Options 359 Speculating with FOREX Options 359 The Garman-Kohlhagen Model 360 Put-Call Parity 361 The Binomial Model 361 Exchange Rates and Competitiveness 363 Chapter 9 Mortgages and Mortgage-backed Securities 364 Introduction 364 Market Participants 364 Mortgage Origination 364 Income for the Originator 365 Mortgage Servicing 365 Escrow Accounts 365 Income for the Servicer 365 Mortgage Insurance 366 Government Insurance and PMI 366 Secondary Sales 366 Risks in Mortgage Lending 367 Default Risk 367 Liquidity Risk 367 Interest Rate Risk 367 Prepayment Risk 368 Other Mortgage Structures 369 Adjustable-Rate Mortgage (ARM) 369 Option to Change the Maturity 371 Rate Caps 371 Carryovers 372 Payment Caps 372 Negative Amortization 374 Graduated Payment Mortgage 376 Growing Equity Mortgages (GEM) 378 WAC and WAM 379 Calculation ofWAC andWAM 379 Pass-Through Securities 379 Cash Flows for a Pass-Through 381 Prepayment Conventions 381 Single Month Mortality Rate 382 Average Life 388 Cash Flow Yield 389 ANote 390 Conditional Prepayment Rate 390 PSA Prepayment Benchmark 391 Illustration of 100 PSA 392 Analysis 393 Illustration of 200 PSA 393 Collateralized Mortgage Obligations 394 Sequential Pay CMO 394 Analysis – Tranche A 395 Analysis – Tranche B 398 Analysis – Tranche C 398 Analysis – Tranche D 398 Extension Risk and Contraction Risk 399 Accrual Bonds 399 Analysis 399 Floating Rate Tranches 403 Notional Interest-only Tranche 404 Interest-only and Principal-only Strips 405 PAC Bonds 405 Chapter 10 Swaps 411 Introduction 411 Market Terminology 415 Key Dates 415 Inherent Risk 416 The Swap Rate 416 Illustrative Swap Rates 417 Determining the Swap Rate 417 The Market Method 419 Valuation of a Swap During Its Life 419 Terminating a Swap 420 The Role of Banks in the Swap Market 421 Motivation for the Swap 421 Speculation 421 Hedging 422 Comparative Advantage and Credit Arbitrage 422 Swap Quotations 423 Matched Payments 424 Amortizing Swaps 425 Extendable and Cancelable Swaps 425 Swaptions 425 Currency Swaps 426 Cross-Currency Swaps 427 Valuation 427 Currency Risks 429 Hedging with Currency Swaps 429 Chapter 11 Mutual Funds, ETFs, and Pension Funds 430 Introduction 430 Pros and Cons of Investing in a Fund 430 Shares and Units 431 Open-end Versus Closed-end Funds 432 Premium/Discount of a Closed-End Fund 433 Unit Trusts 433 Calculating the NAV 433 Costs 436 Sales Charges 436 Price Quotes 440 Annual Operating Expenses 440 Switching Fees 441 Dividend Options 441 Types of Mutual Funds 443 Categorization by Nature of Investments 444 Categorization by Investment Objectives 444 Categorization by Risk Profile 444 Money Market Funds 444 Gilt Funds 445 Debt Funds 445 Diversified Debt Funds 445 Focused Debt Funds 445 High Yield Debt Funds 446 Debt Funds and Bond Duration 446 Equity Funds 446 Aggressive Growth Funds 446 Growth Funds 447 Specialty Funds 447 Sector Funds 447 Offshore Funds 447 Small Cap Equity Funds 447 Option Income Funds 448 Fund of Funds 448 Equity Index Funds 448 Value Funds 448 Equity Income Funds 448 Balanced Funds 449 Asset-Allocation Funds 449 Commodity Funds 449 Real Estate Funds 449 Tax-exempt Funds 449 Risk Categories 450 Low Level Risk Funds 450 Moderate Level Risks 450 High Level Risks 450 The Prospectus 450 Structure of a Mutual Fund 450 Services 451 Automatic Reinvestment Plan 451 Contractual Accumulation Plan 451 Voluntary Accumulation Plan 451 CheckWriting 452 Switching Within a Family of Funds 452 VoluntaryWithdrawal Plans 452 Investment Techniques 452 Dollar-cost Averaging 452 Value Averaging 453 The Combined Method 454 The Total Return 455 Computation of Returns 456 Analysis 457 Taxation Issues 458 Alternatives to Mutual Funds 459 Exchange-Traded Funds (ETFs) 460 Potential Asset Classes 461 Segregated (Separately Managed) Accounts 461 Pension Plans 462 Types of Plans 462 Defined Benefit Plans 462 Defined Contribution Plans 463 IRAs 464 Cash Balance Plans 464 Chapter 12 Orders and Exchanges 465 Important Acronyms 467 Market Orders and Limit Orders 467 The Limit Price 468 The Limit Order Books 468 Illustration of a Limit Order Book 468 Limit Orders Versus Market Orders 469 Marketable Limit Orders 470 Trade Pricing Rules 471 Stop-Loss and Stop-Limit Orders 472 Trailing Stop-Loss Orders 473 Market to Limit Orders 474 Equivalence with Options 474 Validity Conditions 475 Good Till Canceled (GTC) Orders 475 Good Till Days Orders 475 Orders with Quantity Restrictions 476 A Point on Order Specification 476 Open-Outcry Trading Systems 477 Electronic Markets Versus Open-Outcry Markets 478 Call Markets 479 Chapter 13 The Macroeconomics of Financial Markets 481 Economic Growth 481 Gross Domestic Product 481 Consumption 482 Real Estate 482 Capital Expenditure 483 Government Spending 483 Inventories 483 Foreign Trade 483 GDP Versus GNP 484 Inflation Adjustment 485 Transnational Comparisons 485 The Big Mac Index 485 Inflation 485 Types of Inflation 486 Interest Rates 488 The Federal Budget Deficit 488 Measures of Budget Deficits 489 The Primary Deficit 490 Fiscal Policy 490 Budget Deficits and the Capital Market 490 The Role of the Central Bank 490 Budget Deficits and Monetary Policy 491 Cross Border Borrowing 491 Central Banks and Foreign Exchange Markets 492 Sterilized and Unsterilized Interventions 493 Exchange Rates 493 Issues with a Reserve Currency 494 Cross-border Implications of Central Bank Actions 494 Quantitative Easing 495 Quantitative Easing Versus Open-market Operations 496 Chapter 14 Interest Rate Derivatives 497 Forward Rate Agreements (FRAs) 497 Settling an FRA 499 Determining Bounds for the FRA Rate 499 Eurodollar Futures 500 Calculating Profits and Losses on ED Futures 501 Locking in a Borrowing Rate 502 Locking in a Lending Rate 503 The No-Arbitrage Pricing Equation 505 Creating a Fixed-rate Loan 506 30-year T-bond Futures Contracts 507 Conversion Factors 507 Interest Rate Options 510 State Prices 510 Callable and Putable Bonds 511 Caps, Floors, and Collars 512 Captions and Floortions 513 Sources and References 515 Index 521
£999.99
John Wiley & Sons Inc Fixed Income Analysis Workbook
Book SynopsisTable of ContentsPart I Learning Objectives, Summary Overview, and Problems Chapter 1 Fixed-Income Securities: Defining Elements 3 Learning Outcomes 3 Summary Overview 3 Problems 5 Chapter 2 Fixed-Income Markets: Issuance, Trading, and Funding 9 Learning Outcomes 9 Summary Overview 9 Problems 11 Chapter 3 Introduction to Fixed-Income Valuation 15 Learning Outcomes 15 Summary Overview 15 Problems 18 Chapter 4 Introduction to Asset-Backed Securities 25 Learning Outcomes 25 Summary Overview 25 Problems 28 Chapter 5 Understanding Fixed-Income Risk and Return 33 Learning Outcomes 33 Summary Overview 34 Problems 36 Chapter 6 Fundamentals of Credit Analysis 41 Learning Outcomes 41 Summary Overview 41 Problems 45 Chapter 7 The Term Structure and Interest Rate Dynamics 53 Learning Outcomes 53 Summary Overview 53 Problems 54 Chapter 8 The Arbitrage-Free Valuation Framework 65 Learning Outcomes 65 Summary Overview 65 Problems 66 Chapter 9 Valuation and Analysis of Bonds with Embedded Options 75 Learning Outcomes 75 Summary Overview 76 Problems 78 Chapter 10 Credit Analysis Models 89 Learning Outcomes 89 Summary Overview 89 Problems 90 Chapter 11 Credit Default Swaps 99 Learning Outcomes 99 Summary Overview 99 Problems 100 Chapter 12 Overview of Fixed-Income Portfolio Management 105 Learning Outcomes 105 Summary Overview 105 Problems 107 Chapter 13 Liability-Driven and Index-Based Strategies 113 Learning Outcomes 113 Summary Overview 113 Problems 117 Chapter 14 Learning Outcomes 125 Summary Overview 125 Problems 127 Chapter 15 Fixed-Income Active Management: Credit Strategies 133 Learning Outcomes 133 Summary Overview 134 Problems 135 Part II Solutions Chapter 1 Fixed-Income Securities: Defining Elements 145 Solutions 145 Chapter 2 Fixed-Income Markets: Issuance, Trading, and Funding 149 Solutions 149 Chapter 3 Introduction to Fixed-Income Valuation 153 Solutions 153 Chapter 4 Introduction to Asset-Backed Securities 167 Solutions 167 Chapter 5 Understanding Fixed-Income Risk and Return 175 Solutions 175 Chapter 6 Fundamentals of Credit Analysis 183 Solutions 183 Chapter 7 The Term Structure and Interest Rate Dynamics 189 Solutions 189 Chapter 8 The Arbitrage-Free Valuation Framework 197 Solutions 197 Chapter 9 Valuation and Analysis of Bonds with Embedded Options 203 Solutions 203 Chapter 10 Credit Analysis Models 211 Solutions 211 Chapter 11 Credit Default Swaps 225 Solutions 225 Chapter 12 Overview of Fixed-Income Portfolio Management 229 Solutions 229 Chapter 13 Liability-Driven and Index-Based Strategies 233 Solutions 233 Chapter 14 Yield Curve Strategies 239 Solutions 239 Chapter 15 Fixed-Income Active Management: Credit Strategies 243 Solutions 243 About the CFA Program 247
£36.09
John Wiley & Sons Inc The Trading Mindwheel
Book SynopsisTable of ContentsForeword xiii Introduction xv Prelude xv The Start of Something Life Changing xv Philosophy of the Trading Mindwheel xxii The Axle Mindset: Beliefs, Belief Systems, Emotions, and Habits 1 Jesse Livermore’s Story 2 Mindset Is Everything 3 Taking Inventory of Our Beliefs 3 2 A.M. Wakeup Call 4 Deconstructing Beliefs and Belief Systems 6 Write Your Beliefs 9 Emotions and Emotionality 14 The Marathon 15 Healing Wounds 16 When White Knuckling Fails 18 Meditation Is a Marvelous Tool! 21 Seek Clarity 22 Equanimity 33 Spoke 1 Journaling: Step One of Accountability and Continuous Improvement 35 What to Journal About 37 Types of Journals 44 Trading Routines 46 Spoke 2 Analysis: Analyzing Trades and Markets 55 Three Things I Learned the Hard Way about Trading 56 Analyzing Trades and Analyzing Markets 69 Influences and Studies 72 Fundamental Analysis: Defining Our Universe 74 Defining Our Setups 86 Developing a Funnel 96 Analyzing Markets 96 Spoke 3 Risk: Initial Capital Risk, Position Sizing, Potential Reward 107 Risks Involved in Risk 109 Mindsets Needed for Risking Capital 115 Ways to Effectively Manage Risk 122 Spoke 4 Trade Management: Managing Risk throughout the Life of the Trade 137 Life Cycle of a Trade 139 Beginning of the Trade 140 Four Types of Exits 143 When to Sell in Stages vs. When to Sell It All 154 When to Add 159 Dealing with Earnings Announcements 163 Spoke 5 Portfolio Management: The BIG Picture and Assessing Our Total Risk 165 Assessing “Portfolio Heat” 166 Paul’s Story 168 Setting Up Circuit Breakers 170 Spoke 6 Post Analysis: Step Two of Continuous Improvement 173 What to Include in Post Analysis? How Long and How Often? 174 Getting Organized 176 Three Habits That Will Help You Improve 179 Discipline + Balance = Sustainable Success 182 Spoke 7 Testing: Factor Modeling, Back Testing, and Forward Testing 187 Factor Modeling 188 Back Testing 192 Forward Testing 193 Conclusion 197 Acknowledgments and Inspirations 199 About the Author 201 Index 203
£24.79
John Wiley & Sons Inc Factor Investing For Dummies
Book SynopsisSystematically secure your financial futureDummies makes it easy Factor Investing For Dummies helps you go beyond the investment basics, with proven techniques for making informed and sophisticated investment decisions. Using factor investing, you'll select stocks based on some predetermined, well, factors. Momentum, value, interest rates, economic growth, credit risk, liquidityall these things can help you identify killer stocks and improve your returns. This book explains it all, and helps you implement a strategic factor investing plan, so you can boost your portfolio's performance, reduce volatility, and enhance diversification. You'll also learn what not to do, with coverage of the factors that have failed to deliver consistent returns over time. We explore factor-based ETFS and loads of other ideas for injecting some factors into your investment game. Learn what factor investing is and how you can use it to level up your portfolioUnderstand the various types of factors and how to use them to select winning stocksChoose from a bunch of factor investing strategies, or build one of your ownGenerate wealth in a more sophisticated, more effective wayThis is the perfect Dummies guide for beginner to seasoned investors who want to explore more consistent outperformance potential. Factor Investing For Dummies can also help portfolio managers, consultants, academics, and students who want to understand more about the science of factor investing.Table of ContentsIntroduction 1 Part 1: Starting with Factor Investing Basics 5 Chapter 1: Counting on Factor Investing 7 Chapter 2: Why Use Factors? 15 Chapter 3: Knowing Which Factors Are Worth Your Time 25 Chapter 4: Beating the Market without Timing It 33 Part 2: Going Deep with Factor Strategies 41 Chapter 5: Making Room for the Growth Factor 43 Chapter 6: Value Investing with Factors 51 Chapter 7: Banking on Momentum with Winners and Losers 59 Chapter 8: Sizing Up a Stock’s Size 71 Chapter 9: Dividend Income Using Factors 79 Part 3: Using Factor Investing in Your Portfolio 89 Chapter 10: Using Brokerage Orders with Factor Investing 91 Chapter 11: Using Macro Factors 101 Chapter 12: Combining Multiple Factors for a Powerhouse Portfolio 113 Chapter 13: Going Global with Factor Investing 121 Chapter 14: Performing Technical Analysis for Factor Investing 129 Chapter 15: Using Stock-Screening Tools in Your Factor Investing 139 Part 4: Applying More Complex Investment Tactics 149 Chapter 16: Outsourcing with ETFs and Mutual Funds 151 Chapter 17: Bonds and Factor Investing 161 Chapter 18: Using Options with Factor Investing 173 Chapter 19: Watching the Factors that Lead to Major Market Moves 183 Chapter 20: Considering Taxes 191 Part 5: The Part of Tens 207 Chapter 21: Ten Do-It-Yourself Factors 209 Chapter 22: Ten Ways to Mess Up Your Investment Plan 215 Chapter 23: Ten Non-Factor Strategies and Considerations 223 Chapter 24: Ten Financial Problems You Can Navigate with Factor Investing 229 Part 6: Appendixes 239 Appendix A: Resources for Factor Investors 241 Appendix B: Factor-Based ETFs 253 Index 269
£18.69
John Wiley & Sons Inc The New Economics of Sovereign Wealth Funds
Book SynopsisA complete guide to sovereign wealth funds written by and for industry practitioners Sovereign wealth funds (SWFs) aren't new, but they are often misunderstood. As they've attracted more attention over the last decade and grown greatly in size, the need for a new and thorough resource on SWFs has never been greater.Table of ContentsForeword xi List of Tables and Figures xiii List of Abbreviations xv Acknowledgements xvii Introduction 1 A few stylized facts 2 SWFs under the spotlight 4 Defining SWFs 9 Misplaced fears 10 The plan of the book 13 1 The Macroeconomic Dynamics Behind SWFs 17 1.1 Persistent current account surpluses translate into accumulation of foreign assets 18 1.2 Absorption constraints: the rationale for establishing SWFs and FWFs 21 1.3 The management of natural resources windfall 24 1.4 Commodities demand and the super‐cycle theory 29 1.5 SWFs as alternative to an income tax system: what if Norway becomes like Saudi Arabia? 33 2 Size and Growth of SWFs Assets 37 2.1 Size and clusters of SWFs 38 2.2 Drivers of SWFs asset growth 43 2.3 The optimal level of foreign exchange reserves 45 2.4 Future growth in FX reserves: commodity- versus noncommodity-exporting countries 47 2.5 Size of SWFs by 2016 49 Appendix: How big could SWFs be by 2016? 54 3 SWFs as Investors in Global Markets 71 3.1 Clustering SWFs by objectives and investment profiles 74 3.2 SWFs as strategic investors in domestic and global markets 83 3.3 Geographical and sector distribution of SWF strategic investments: the 2007–2008 surge of investments in Western financials 86 3.4 Investment performance of SWFs and the impact of the financial crisis 94 3.5 Explicit and implicit liabilities of SWFs 97 3.6 Long-term investments: SWFs as the ultimate risk bearers 99 4 Risk Management for SWFs 105 4.1 The crisis in retrospect 108 4.2 The complex qualitative nature of risk: uncertainty, chaos, black swans and fat tails 111 4.3 Banking regulation, herd behaviour and contagion 113 4.4 The evolution of the regulatory framework 118 4.5 Sketches of risk management for SWFs 121 4.6 An unconventional dimension of risk management: shareholders vs stakeholders 129 5 SWFs in the Geopolitics of the Twenty-first Century 131 5.1 The shift to the East of the global economy: the New Silk Route 137 5.2 The law of unintended consequences? China’s influence through financial muscle 141 5.3 SWFs investing in the less developed economies: Africa as the last investment frontier 145 5.4 The new financial geography: the emerging multipolar financial architecture 147 5.5 The dominance of the US$ in global financial markets: SWFs as US$ diversifiers 149 5.6 SWFs and the new regulatory environment for financial institutions: the upcoming ‘war for capital’ 152 6 The Politics of SWFs Engagement 155 6.1 National responses to the growing role of SWFs 156 6.2 International response to the growing role of SWFs 159 6.3 SWFs’ response to international pressure 161 6.4 Santiago Principles: rationale, implementation and reality 163 6.5 A digression on public versus private role in the economy 168 7 Wrapping Up 173 7.1 Towards a multipolar world 175 7.2 Governments’ activism in economic and financial affairs 176 7.3 Barbarian at the gates or welcome partners? 177 7.4 The end of the savings gluts and the coming era of capital scarcity 179 7.5 Towards a multicurrency regime 180 7.6 A proposal to allay fears over transparency 185 7.7 The new responsibilities on the global scene 186 Bibliography 189 Index 199
£59.85
John Wiley & Sons Australia Ltd Property Investing Essentials For Dummies
Book Synopsis
£12.56
John Wiley & Sons Inc Financial Reckoning Day
Book SynopsisAn engaging and practical romp through contemporary financial and economic historyand what it means for your financial future Economic booms and busts are happening with more frequency. Since the turn of the new millennium, fortunes have been made and lost at a blistering pace. Each boom is like the tension building up before an earthquake. Seismologists can detect the build-up, but they can''t necessarily explain whyor whenthe next quake will hit. Economic busts can be equally devastatingand followed by numerous aftershocks. In this entertaining romp through recent economic and financial history, best-selling author, Addison Wiggin, traces the primary trends that have led up to rapid economic growth and innovation while keeping an eye on the inevitable downturn. The author practices literary economics, telling stories about the characters behind the scenes and their motives, making this wide-ranging book easy-to-read. The current edition has been revised, adaptTable of ContentsForeword ix Preface to the 2009 Edition: Confessions of a Newsletter Man xiii Acknowledgments xxv Introduction: Hell in a Bucket 1 Part One: Wildness Lies in Wait 9 Chapter 1: The Old “New Economy” 11 Chapter 2: Homo Digitalis, or “If You Know, You Know” 25 Chapter 3: Dreamers and Schemers 35 Part Two: The Fabulous Destiny of Alan Greenspan 49 Chapter 4: In the Bath Blowing Bubbles 51 Chapter 5: “Free Money” and Other New Era Hallucinations 63 Chapter 6: A Theory of Moral Hazards 95 Chapter 7: First It Giveth . . . 113 Part Three: Extraordinary Popular Delusions 127 Chapter 8: John Law and the Origins of a Bad Idea 129 Chapter 9: The Digital Age of Crowds 147 Chapter 10: The Crack-Up Boom 169 Chapter 11: The Party at the End of the World 225 Notes 235 Index 245
£18.69
John Wiley & Sons Australia Ltd Replace Your Salary by Investing
Book Synopsis
£16.65
John Wiley & Sons Inc Foundations of the Pricing of Financial
Book SynopsisAn accessible and mathematically rigorous resource for masters and PhD students In Foundations of the Pricing of Financial Derivatives: Theory and Analysis two expert finance academics with professional experience deliver a practical new text for doctoral and masters' students and also new practitioners. The book draws on the authors extensive combined experience teaching, researching, and consulting on this topic and strikes an effective balance between fine-grained quantitative detail and high-level theoretical explanations. The authors fill the gap left by books directed at masters'-level students that often lack mathematical rigor. Further, books aimed at mathematically trained graduate students often lack quantitative explanations and critical foundational materials. Thus, this book provides the technical background required to understand the more advanced mathematics used in this discipline, in class, in research, and in practice. Readers will also find: Tables, figures, line draTable of ContentsPreface xv Chapter 1 Introduction and Overview 1 1.1 Motivation for This Book 2 1.2 What Is a Derivative? 6 1.3 Options Versus Forwards, Futures, and Swaps 8 1.4 Size and Scope of the Financial Derivatives Markets 9 1.5 Outline and Features of the Book 12 1.6 Final Thoughts and Preview 14 Questions and Problems 15 Notes 15 Part I Basic Foundations for Derivative Pricing Chapter 2 Boundaries, Limits, and Conditions on Option Prices 19 2.1 Setup, Definitions, and Arbitrage 20 2.2 Absolute Minimum and Maximum Values 21 2.3 The Value of an American Option Relative to the Value of a European Option 22 2.4 The Value of an Option at Expiration 22 2.5 The Lower Bounds of European and American Options and the Optimality of Early Exercise 23 2.6 Differences in Option Values by Exercise Price 31 2.7 The Effect of Differences in Time to Expiration 37 2.8 The Convexity Rule 38 2.9 Put-Call Parity 40 2.10 The Effect of Interest Rates on Option Prices 47 2.11 The Effect of Volatility on Option Prices 47 2.12 The Building Blocks of European Options 48 2.13 Recap and Preview 49 Questions and Problems 50 Notes 51 Chapter 3 Elementary Review of Mathematics for Finance 53 3.1 Summation Notation 53 3.2 Product Notation 55 3.3 Logarithms and Exponentials 56 3.4 Series Formulas 58 3.5 Calculus Derivatives 59 3.6 Integration 68 3.7 Differential Equations 70 3.8 Recap and Preview 71 Questions and Problems 71 Notes 73 Chapter 4 Elementary Review of Probability for Finance 75 4.1 Marginal, Conditional, and Joint Probabilities 75 4.2 Expectations, Variances, and Covariances of Discrete Random Variables 80 4.3 Continuous Random Variables 86 4.4 Some General Results in Probability Theory 93 4.5 Technical Introduction to Common Probability Distributions Used in Finance 95 4.6 Recap and Preview 109 Questions and Problems 109 Notes 110 Chapter 5 Financial Applications of Probability Distributions 113 5.1 The Univariate Normal Probability Distribution 113 5.2 Contrasting the Normal with the Lognormal Probability Distribution 119 5.3 Bivariate Normal Probability Distribution 123 5.4 The Bivariate Lognormal Probability Distribution 125 5.5 Recap and Preview 126 Appendix 5A An Excel Routine for the Bivariate Normal Probability 126 Questions and Problems 128 Notes 128 Chapter 6 Basic Concepts in Valuing Risky Assets and Derivatives 129 6.1 Valuing Risky Assets 129 6.2 Risk-Neutral Pricing in Discrete Time 130 6.3 Identical Assets and the Law of One Price 133 6.4 Derivative Contracts 134 6.5 A First Look at Valuing Options 136 6.6 A World of Risk-Averse and Risk-Neutral Investors 137 6.7 Pricing Options Under Risk Aversion 138 6.8 Recap and Preview 138 Questions and Problems 139 Notes 139 Part II Discrete Time Derivatives Pricing Theory Chapter 7 The Binomial Model 143 7.1 The One-Period Binomial Model for Calls 143 7.2 The One-Period Binomial Model for Puts 146 7.3 Arbitraging Price Discrepancies 149 7.4 The Multiperiod Model 151 7.5 American Options and Early Exercise in the Binomial Framework 154 7.6 Dividends and Recombination 155 7.7 Path Independence and Path Dependence 159 7.8 Recap and Preview 159 Appendix 7A Derivation of Equation (7.9) 159 Appendix 7B Pascal’s Triangle and the Binomial Model 161 Questions and Problems 163 Notes 163 Chapter 8 Calculating the Greeks in the Binomial Model 165 8.1 Standard Approach 165 8.2 An Enhanced Method for Estimating Delta and Gamma 170 8.3 Numerical Examples 172 8.4 Dividends 174 8.5 Recap and Preview 175 Questions and Problems 175 Notes 176 Chapter 9 Convergence of the Binomial Model to the Black-Scholes-Merton Model 177 9.1 Setting Up the Problem 177 9.2 The Hsia Proof 181 9.3 Put Options 187 9.4 Dividends 188 9.5 Recap and Preview 188 Questions and Problems 189 Notes 190 Part III Continuous Time Derivatives Pricing Theory Chapter 10 The Basics of Brownian Motion and Wiener Processes 193 10.1 Brownian Motion 193 10.2 The Wiener Process 195 10.3 Properties of a Model of Asset Price Fluctuations 196 10.4 Building a Model of Asset Price Fluctuations 199 10.5 Simulating Brownian Motion and Wiener Processes 202 10.6 Formal Statement of Wiener Process Properties 205 10.7 Recap and Preview 207 Appendix 10A Simulation of the Wiener Process and the Square of the Wiener Process for Successively Smaller Time Intervals 207 Questions and Problems 208 Notes 209 Chapter 11 Stochastic Calculus and Itô’s Lemma 211 11.1 A Result from Basic Calculus 211 11.2 Introducing Stochastic Calculus and Itô’s Lemma 212 11.3 Itô’s Integral 215 11.4 The Integral Form of Itô’s Lemma 216 11.5 Some Additional Cases of Itô’s Lemma 217 11.6 Recap and Preview 219 Appendix 11A Technical Stochastic Integral Results 220 11A.1 Selected Stochastic Integral Results 220 11A.2 A General Linear Theorem 224 Questions and Problems 229 Notes 230 Chapter 12 Properties of the Lognormal and Normal Diffusion Processes for Modeling Assets 231 12.1 A Stochastic Process for the Asset Relative Return 232 12.2 A Stochastic Process for the Asset Price Change 235 12.3 Solving the Stochastic Differential Equation 236 12.4 Solutions to Stochastic Differential Equations Are Not Always the Same as Solutions to Corresponding Ordinary Differential Equations 237 12.5 Finding the Expected Future Asset Price 238 12.6 Geometric Brownian Motion or Arithmetic Brownian Motion? 240 12.7 Recap and Preview 241 Questions and Problems 242 Notes 242 Chapter 13 Deriving the Black-Scholes-Merton Model 245 13.1 Derivation of the European Call Option Pricing Formula 245 13.2 The European Put Option Pricing Formula 249 13.3 Deriving the Black-Scholes-Merton Model as an Expected Value 250 13.4 Deriving the Black-Scholes-Merton Model as the Solution of a Partial Differential Equation 254 13.5 Decomposing the Black-Scholes-Merton Model into Binary Options 258 13.6 Black-Scholes-Merton Option Pricing When There Are Dividends 259 13.7 Selected Black-Scholes-Merton Model Limiting Results 259 13.8 Computing the Black-Scholes-Merton Option Pricing Model Values 262 13.9 Recap and Preview 265 Appendix 13.A Deriving the Arithmetic Brownian Motion Option Pricing Model 265 Questions and Problems 269 Notes 270 Chapter 14 The Greeks in the Black-Scholes-Merton Model 271 14.1 Delta: The First Derivative with Respect to the Underlying Price 274 14.2 Gamma: The Second Derivative with Respect to the Underlying Price 274 14.3 Theta: The First Derivative with Respect to Time 275 14.4 Verifying the Solution of the Partial Differential Equation 275 14.5 Selected Other Partial Derivatives of the Black-Scholes-Merton Model 277 14.6 Partial Derivatives of the Black-Scholes-Merton European Put Option Pricing Model 278 14.7 Incorporating Dividends 279 14.8 Greek Sensitivities 280 14.9 Elasticities 283 14.10 Extended Greeks of the Black-Scholes-Merton Option Pricing Model 284 14.11 Recap and Preview 284 Questions and Problems 285 Notes 286 Chapter 15 Girsanov’s Theorem in Option Pricing 287 15.1 The Martingale Representation Theorem 287 15.2 Introducing the Radon-Nikodym Derivative by Changing the Drift for a Single Random Variable 289 15.3 A Complete Probability Space 291 15.4 Formal Statement of Girsanov’s Theorem 292 15.5 Changing the Drift in a Continuous Time Stochastic Process 293 15.6 Changing the Drift of an Asset Price Process 297 15.7 Recap and Preview 300 Questions and Problems 301 Notes 302 Chapter 16 Connecting Discrete and Continuous Brownian Motions 303 16.1 Brownian Motion in a Discrete World 303 16.2 Moving from a Discrete to a Continuous World 306 16.3 Changing the Probability Measure with the Radon-Nikodym Derivative in Discrete Time 310 16.4 The Kolmogorov Equations 313 16.5 Recap and Preview 321 Questions and Problems 322 Notes 322 Part IV Extensions and Generalizations of Derivative Pricing Chapter 17 Applying Linear Homogeneity to Option Pricing 327 17.1 Introduction to Exchange Options 327 17.2 Homogeneous Functions 328 17.3 Euler’s Rule 330 17.4 Using Linear Homogeneity and Euler’s Rule to Derive the Black-Scholes-Merton Model 330 17.5 Exchange Option Pricing 333 17.6 Spread Options 337 17.7 Forward Start Options 339 17.8 Recap and Preview 341 Appendix 17A Linear Homogeneity and the Arithmetic Brownian Motion Model 342 Appendix 17B Multivariate Itô’s Lemma 344 Appendix 17C Greeks of the Exchange Option Model 345 Questions and Problems 347 Notes 347 Chapter 18 Compound Option Pricing 349 18.1 Equity as an Option 350 18.2 Valuing an Option on the Equity as a Compound Option 351 18.3 Compound Option Boundary Conditions and Parities 353 18.4 Geske’s Approach to Valuing a Call on a Call 356 18.5 Characteristics of Geske’s Call on Call Option 358 18.6 Geske’s Call on Call Option Model and Linear Homogeneity 359 18.7 Generalized Compound Option Pricing Model 360 18.8 Installment Options 361 18.9 Recap and Preview 362 Appendix 18A Selected Greeks of the Compound Option 362 Questions and Problems 363 Notes 363 Chapter 19 American Call Option Pricing 365 19.1 Closed-Form American Call Pricing: Roll-Geske-Whaley 366 19.2 The Two-Payment Case 370 19.3 Recap and Preview 372 Appendix 19A Numerical Example of the One-Dividend Model 373 Questions and Problems 374 Notes 374 Chapter 20 American Put Option Pricing 377 20.1 The Nature of the Problem of Pricing an American Put 377 20.2 The American Put as a Series of Compound Options 378 20.3 Recap and Preview 380 Questions and Problems 380 Notes 381 Chapter 21 Min-Max Option Pricing 383 21.1 Characteristics of Stulz’s Min-Max Option 383 21.2 Pricing the Call on the Min 388 21.3 Other Related Options 393 21.4 Recap and Preview 395 Appendix 21A Multivariate Feynman-Kac Theorem 395 Appendix 21B An Alternative Derivation of the Min-Max Option Model 396 Questions and Problems 397 Notes 397 Chapter 22 Pricing Forwards, Futures, and Options on Forwards and Futures 399 22.1 Forward Contracts 399 22.2 Pricing Futures Contracts 404 22.3 Options on Forwards and Futures 409 22.4 Recap and Preview 412 Questions and Problems 413 Notes 414 Part V Numerical Methods Chapter 23 Monte Carlo Simulation 417 23.1 Standard Monte Carlo Simulation of the Lognormal Diffusion 417 23.2 Reducing the Standard Error 421 23.3 Simulation with More Than One Random Variable 424 23.4 Recap and Preview 424 Questions and Problems 425 Notes 426 Chapter 24 Finite Difference Methods 429 24.1 Setting Up the Finite Difference Problem 429 24.2 The Explicit Finite Difference Method 431 24.3 The Implicit Finite Difference Method 434 24.4 Finite Difference Put Option Pricing 435 24.5 Dividends and Early Exercise 435 24.6 Recap and Preview 436 Questions and Problems 436 Notes 436 Part VI Interest Rate Derivatives Chapter 25 The Term Structure of Interest Rates 439 25.1 The Unbiased Expectations Hypothesis 440 25.2 The Local Expectations Hypothesis 442 25.3 The Difference Between the Local and Unbiased Expectations Hypotheses 446 25.4 Other Term Structure of Interest Rate Hypotheses 447 25.5 Recap and Preview 450 Questions and Problems 450 Notes 450 Chapter 26 Interest Rate Contracts: Forward Rate Agreements, Swaps, and Options 453 26.1 Interest Rate Forwards 454 26.2 Interest Rate Swaps 459 26.3 Interest Rate Options 469 26.4 Recap and Preview 471 Questions and Problems 471 Notes 472 Chapter 27 Fitting an Arbitrage-Free Term Structure Model 475 27.1 Basic Structure of the HJM Model 476 27.2 Discretizing the HJM Model 479 27.3 Fitting a Binomial Tree to the HJM Model 481 27.4 Filling in the Remainder of the HJM Binomial Tree 485 27.5 Recap and Preview 489 Questions and Problems 490 Notes 491 Chapter 28 Pricing Fixed-Income Securities and Derivatives Using an Arbitrage-Free Binomial Tree 493 28.1 Zero-Coupon Bonds 493 28.2 Coupon Bonds 496 28.3 Options on Zero-Coupon Bonds 497 28.4 Options on Coupon Bonds 498 28.5 Callable Bonds 499 28.6 Forward Rate Agreements (FRAs) 501 28.7 Interest Rate Swaps 503 28.8 Interest Rate Options 505 28.9 Interest Rate Swaptions 506 28.10 Interest Rate Futures 508 28.11 Recap and Preview 510 Questions and Problems 510 Notes 510 Part VII Miscellaneous Topics Chapter 29 Option Prices and the Prices of State-Contingent Claims 513 29.1 Pure Assets in the Market 514 29.2 Pricing Pure and Complex Assets 514 29.3 Numerical Example 518 29.4 State Pricing and Options in a Binomial Framework 519 29.5 State Pricing and Options in Continuous Time 522 29.6 Recap and Preview 525 Questions and Problems 525 Notes 526 Chapter 30 Option Prices and Expected Returns 527 30.1 The Basic Framework 527 30.2 Expected Returns on Options 529 30.3 Volatilities of Options 531 30.4 Options and the Capital Asset Pricing Model 531 30.5 Options and the Sharpe Ratio 532 30.6 The Stochastic Process Followed by the Option 533 30.7 Recap and Preview 535 Questions and Problems 535 Notes 536 Chapter 31 Implied Volatility and the Volatility Smile 537 31.1 Historical Volatility and the VIX 538 31.2 An Example of Implied Volatility 539 31.3 The Volatility Surface 546 31.4 The Perfect Substitutability of Options 547 31.5 Other Attempts to Explain the Implied Volatility Smile 549 31.6 How Practitioners Use the Implied Volatility Surface 550 31.7 Recap and Preview 551 Questions and Problems 551 Notes 553 Chapter 32 Pricing Foreign Currency Options 555 32.1 Definition of Terms 556 32.2 Option Payoffs 556 32.3 Valuation of the Options 557 32.4 Probability of Exercise 561 32.5 Some Terminology Confusion 563 32.6 Recap 563 Questions and Problems 564 Notes 565 References 567 Symbols Used 573 Symbols 573 Time-Related Notation 573 Instrument-Related Notation 574 About the Website 581 Index 583
£56.25
John Wiley & Sons Australia Ltd Top Stocks 2024
Book SynopsisAustralia's bestselling guide for smart investing in the sharemarket When it''s time to invest your earnings, you need accurate and trusted guidance that will weather cycles, outlive fads, and stand the test of time. In this 30th anniversary edition of definitive bestseller Top Stocks, market expert Martin Roth gives you the essential knowledge you need to grow your portfolio and profits. An invaluable resource for novices and professionals alike, Top Stocks 2024 shares the clear, objective information and tried-and-tested techniques you need to make right picks and get more for your money. You''ll learn how to use selection criteria and rigorous analysis to form a clear picture of the best low-risk, long-term value public companies to buy into. You''ll see beyond the hype, the pricing, and the punditry. And you'll become an expert at evaluating the best of the Australian sharemarket, using concrete factors like profitability, debt levels, and d
£16.65
John Wiley & Sons Inc Series 7 Exam 1001 Practice Questions For Dummies
Book SynopsisPrep for the Series 7 like a seasoned pro with this huge collection of practice questions and answer explanations Heads up, prospective Series 7 takers! Word is out that this popular exam's latest update made it a lot tougher. But don't sweat it. With the newly revised second edition of Series 7: 1001 Practice Questions For Dummies you'll get all the practice you need to maximize your chances of acing the test your first time around. This book shows you where your knowledge is strong and where you need work, letting you focus your efforts where they will make the most difference. Here's what's included: 1001 realistic and challenging practice questions with detailed answer explanationsCoverage of every domain and competency tested on the examNew questions comprehensively aligned with the latest version of the Series 7 examA must-have study aid perfect for anyone ready to take their next step on the road to a new career in securities trading, Series 7: 1001 Practice Questions For Dummies will help you banish test anxiety, improve your odds on the exam, and give you all the tools you need to succeed.Table of ContentsIntroduction 1 Part 1: Practicing the Questions 3 Chapter 1: Underwriting Securities 5 Chapter 2: Equity Securities 15 Chapter 3: Corporate and U.S. Government Debt Securities 25 Chapter 4: Municipal Bonds 39 Chapter 5: Margin Accounts 59 Chapter 6: Packaged Securities 67 Chapter 7: Direct Participation Programs 79 Chapter 8: Options 85 Chapter 9: Portfolio and Securities Analysis 107 Chapter 10: Orders and Trades 119 Chapter 11: Taxes and Retirement Plans 129 Chapter 12: Rules and Regulations 141 Part 2: Checking Your Answers 161 Chapter 13: Answers and Explanations 163 Index 347
£19.54
John Wiley & Sons Inc Private Capital
Book SynopsisInPrivate Capital: The Complete Guide to Private Markets Investing,renowned private markets investor and expert Dr. Stefan W. Hepp delivers an insightful and comprehensive exploration of the history, nature, and influence of private market investing. The author offers a robust examination of the key practical and conceptual issues faced by investors as they move forward into the future. In the book, you'll find fulsome discussions of the rise of private market investment following the conclusion of World War II, as well as why the limited partnership became the dominant investment vehicle for private equity. You'll also discover the importance of the convergence of technology, government, academia, and venture capital that came to define what we now know as Silicon Valley. The book includes: Explanations of the emergence of buyout firms, as well as why and how buyouts differ from other forms of mergers and acquisitionsExaminations of the explosive growth of private equity and other private asset classes since the turn of the millenniumDiscussions of the issues set to dominate the future of private markets, including ESG investing, value creation, unicorns, special purpose acquisition companies (SPACs), and more A must-read book for regulators, investors, asset managers, entrepreneurs, founders, and other businesspeople, Private Capitalwill earn a place on the bookshelves of anyone with a stake or interest in private equity and other private asset classes.Table of ContentsAbbreviations ix Introduction 1 Part I The Beginning 9 Chapter 1 Funding Private Enterprise 11 Chapter 2 Enterprise Financing in the USA from WWII to the 1960s 67 Chapter 3 How Silicon Valley Came to Be 77 Chapter 4 US Private Equity During the 1960s and 1970s 111 Part II Booms and Busts 157 Chapter 5 Private Equity During the 1980s 159 Chapter 6 The 1990s: Dotcom Boom and Bust 193 Chapter 7 A Private Markets Boom Between Two Crises 261 Part III Becoming Indispensable 355 Chapter 8 The GFC and the Surge of Private Markets 357 Chapter 9 Responding to Shifting Dynamics: Intermediaries, VC, and Growth Financing 435 Chapter 10 Buyouts, Private Debt, and Real Assets During the Post-GFC Boom 517 References 607 Acknowledgments 671 About the Author 675 Index 677
£47.50
Kogan Page Ltd Investing Explained
Book SynopsisMatthew Partridge is a Senior Writer for MoneyWeek magazine, Britain's leading weekly personal finance and investment magazine, based in London, UK. He previously worked for Citigroup, Lehman Brothers and an economics consultancy, and has a PhD in Economic History from the London School of Economics.Trade Review"A brilliant clear, original and insightful book. It is perfect for both novice and experienced investors. Every reader will learn something new from it." * Matthew Lynn, Daily Telegraph and MoneyWeek columnist *"Matthew Partridge is one of Britain's most experienced investment writers and he is also a trained historian - a rare and crucial combination. He eloquently navigates the stock market and its current trends, while maintaining a foothold in history and literature. This book provides a wealth of accessible knowledge for novices and seasoned investors alike." * Marina Gerner, Award-winning Journalist and Lecturer of Commerce and Culture at NYU London *Table of Contents Chapter - 00: Introduction; Chapter - 01: The basics of investing; Chapter - 02: Managing risk; Chapter - 03: The role of psychology in investing; Chapter - 04: Investing with the professionals; Chapter - 05: Types of investment vehicles; Chapter - 06: Picking an active fund; Chapter - 07: Value investing; Chapter - 08: Growth investing; Chapter - 09: Income investing; Chapter - 10: Investing in the aftermath of chaos; Chapter - 11: Other financial assets; Chapter - 12: Financial technology and alternative finance; Chapter - 13: Conclusion: The top 10 rules of investment;
£15.29
John Wiley and Sons Ltd Understanding Futures Markets
Book SynopsisNow in its sixth edition, Understanding Futures Markets by Robert Kolb (University of Colorado) and James Overdahl (Chief Economist of the Commodity Futures Trading Commission) provides the most comprehensive coverage of futures markets available.Table of Contents1. Futures Markets: Introduction. 2. Futures Markets: Refinements. 3. Futures Prices. 4. Using Futures Markets. 5. CommodityFutures Contracts. 6. A Bond Primer. 7. Interest Rate Futures: Introduction. 8. Interest Rate Futures: Refinements. 9. Securities Futures Products: Introduction. 10. Security Futures Products: Refinements. 11. Foreign Exchange Futures. 12. An Options Primer. 13. Options on Futures.
£49.40
John Wiley and Sons Ltd Futures Options and Swaps
Book SynopsisA new and updated edition of the most readable, comprehensive text available on derivatives markets. Utilizes an even more applied approach than previous editions Provides an excellent balance between introductory and advanced topics Extensively updated to incorporate and explicate development in the field including the areas of electronic trading platforms, globalization of markets, hedge funds, financial scandals involving derivatives, and government regulation Revised to include over 50 text boxes with applied vignettes on topical issues, product profiles, and historical anecdotes Trade Review“This is a revision of an already excellent textbook that has a very clear way of explaining the often difficult concepts that the student needs to understand in this very technical subject area. What I particularly like is the careful way the text builds up the material in a simple style without skipping any steps. This incremental approach makes it a very useful teaching resource. The book clearly knows what it is trying to do and makes no assumption about the knowledge level of the reader. I also like the way material is presented through the use of concrete examples.” Peter Moles, University of EdinburghTable of ContentsPreface. Acknowledgments. 1. Introduction. 2. Futures Markets. 3. Futures Prices. 4. Using Futures Markets. 5. Interest Rate Futures: An Introduction. 6. Interest Rate Futures: Refinements. 7. Security Futures Products: An Introduction. 8. Security Futures Products: Refinements. 9. Foreign Exchange Futures. 10. The Options Market. 11. Option Payoffs and Option Strategies. 12. Bounds on Option Prices. 13. European Option Pricing. 14. Option Sensitivities and Option Hedging. 15. American Option Pricing. 16. Options on Stock Indexes, Foreign Currency, and Futures. 17. The Options Approach to Corporate Securities. 18. Exotic Options. 19. Interest Rate Options. 20. The Swaps Market: An Introduction. 21. Swaps: Economic Analysis and Pricing. 22. Swaps: Applications. Appendix A: A Summary of Accounting Rules for Derivatives Instruments. Appendix B: The Cumulative Distribution Function for the Standard Normal Random Variable. Index
£46.55
Johns Hopkins University Press Days of Slaughter
Book SynopsisA cautionary tale of failed policies and corporate mismanagement that compellingly addresses previously unexplored issues of political ideology, organizational dynamics, and ethics, Days of Slaughter will appeal to readers everywhere who want a fuller explanation of what went awry in the US housing market.Trade ReviewThis detailed, thoughtful examination of the GSEs before, during, and after the crisis is a welcome contribution to the historical record of a turbulent time. Publishers WeeklyTable of ContentsContents Key Acronyms Acknowledgements Prologue - Acknowledging the Obvious 5I. Reckoning Day 8II. Homeownership: Dream or Nightmare? 35III. Securitization Breakdown 62 IV. Charter Confusion 90 V. Affordable Housing 112VI. Subprime Semantics 138VII. Political Capture 156VIII. Who's Ultimately Responsible? 181IX. Scandal (s) 198X. Battle for Credit Leadership 222XI. One Tough Bill 247XII. Stand Up and Say 272XIII. The Unraveling 288XIV. Sad Goodbyes 305XV: Housing's Future 309XVI: Wherefore Ethics? 319
£18.45
Johns Hopkins University Press Moralizing the Market
Book SynopsisA novel historical perspective on how stock markets influence each other internationally. A nation usually overhauls its financial regulations after a stock market crash or the collapse of its banking system. In 1967, France did something rare. Out of pure political expediency, Gaullist leaders and senior civil servants seized the opportunity offered by an insider-trading case and established an independent commission to regulate the securities market: the Commission des Opérations de Bourse, or COB. Despite their staunch defense of national sovereignty, these reformers drew their inspiration from an American model, the Securities and Exchange Commission. Highlighting the international sources for national reform, Yves-Marie Péréon's Moralizing the Market explores the dynamics of policy transfer in securities regulationa subject that has rarely been considered from a historical perspective. That regulation has been used to attract investors and foster market development challenges Table of ContentsAcknowledgmentsIntroduction1. A Minister on a Mission2. "Thieves!"3. The Paris Bourse in the 1960s: A Basket Case?4. France Looks at America5. Drafting the Ordonnance6. Takeoff7. The Red Flag over the "Temple of Gold"8. In Search of Legitimacy9. Mr. Chatenet Goes to Washington10. Mission Accomplished?ConclusionNotesBibliographyIndex
£47.18
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Traders at Work
Book SynopsisShortly after most novice traders discover how trading works and begin to realize that they have the potential to make unlimited amounts of money in the financial markets, they start dreaming the near-impossible dream. They fantasize about buying that condo in Boca Raton for their parents or surprising their son with a brand-new car on his 16th birthday. They even begin to imagine themselves opening their own trading firm or milling about the pit of the Chicago Mercantile Exchange, lobbying against other professional traders for the perfect entry into a once-in-a-lifetime trade. But then ... they watch the markets lurch in wildly unpredictable ways, lose their shirts in a few live trades, and then freeze in their tracks, wondering if they will ever be able to consistently trade in a manner that can even loosely be defined as profitable. To be sure, becoming a full-time, professional trader, working at a proprietary trading firm, or managing the trading activity of a hedge funTable of Contents Todd Gordon Linda Raschke Serge Berger Alex Foster Derek Schimming Peter Brandt Rob Wilson John Carter Anne-Marie Baiynd Jeff White Patrick Hemminger Don Miller Charles German Dr. Andrew Menaker Brian Lund Michael Toma Twenty Habits of Wealthy Traders
£28.49
University of Toronto Press Back from the Brink Lessons from the Canadian
Book SynopsisAs global markets toppled during the 2008 financial crisis, the Canadian market for non-bank asset-backed commercial paper (ABCP) seemed on the verge of collapsing. Back from the Brink explains the origins of the Canadian ABCP crisis and how an ambitious market restructuring prevented a $32 billion market from falling into chaos.Table of ContentsIntroduction Part 1. The ABCs of a Crisis Chapter 1: The Day Montreal Stood Still Chapter 2: Not a Regional Problem Chapter 3: Enter Purdy Crawford Part 2. The Art of the Possible: Hammering Out a Deal Chapter 4: A Proposal Is Born Chapter 5: Putting It Back Together Again Chapter 6: Selling the Deal Chapter 7: The Plan Gets Approved Chapter 8: It Almost Falls Apart Part 3. ABCP Afterlife: How Has the Market Performed? Chapter 9: Whither a Liquid Market Chapter 10: Regulatory Fallout Part 4. Conclusions Chapter 11: Winners and Losers in the ABCP Fiasco Chapter 12: Lessons Learned
£28.80
University of Toronto Press Moose Pastures and Mergers
Book SynopsisLong before the spectacular collapse of Bre-X in 1997, the Canadian capital markets had their share of swindlers and crooks. In the boom times after Second World War, hard-sell speculative mining ventures, pushing what often amounted to a few acres of moose pasture, riddled over-the-counter markets and the TSE. It was in this context that the Ontario Securities Commission developed into Canada's leading securities regulator. Following the war, the OSC concerned itself primarily with fraudsters and attempts to reign in Toronto's boiler rooms, but by the mid-sixties increasingly sophisticated markets and a series of scandals culminating in the Windfall affair resulted in a rewriting of the Securities Act and a widening of the OSC's investor protection mandate. The seventies tested the Commission's new powers as increased corporate merger activity brought the phrase "insider-trading" into the popular lexicon.Surprisingly, considering that capital markets have such a profound impTrade ReviewJJ Talman Award, Ontario Historical Soc -- 01
£28.80
O'Reilly Media Personal Investing
Book SynopsisFinancial experts agree that with the right guidance, consumers can make investments better than many professionals. This guide gives you the confidence, tools, and insight you need to evaluate financial products and make smart investments that target success over the long term.
£15.75
John Wiley & Sons Analyzing Banking Risk A Framework for Assessing
Book SynopsisProvides a comprehensive overview of topics focusing on assessment, analysis, and management of financial risks in banking. The publication emphasizes risk management principles and stresses that key players in the corporate governance process are accountable for managing the different dimensions of financial and other risks.
£999.99
John Wiley & Sons Orders Without Borders Direct Enforcement of Foreign Restraint and Confiscation Decisions
£33.20
John Wiley & Sons Managing County Assets and Liabilities in Kenya
Book SynopsisHelps readers understand the basic concept of asset management; explains systems, tools, and procedures; and provides models and guidance for strategically managing assets, establishing systems and asset registers, and applying life-cycle-based asset operation and maintenance.
£39.56
O'Reilly Media Unlocking Financial Data
Book SynopsisThis practical guide teaches analysts a useful subset of Excel skills that will enable them to access and interpret financial informationwithout any prior programming experience.
£29.99
Stanford University Press Reframing Finance: New Models of Long-Term
Book SynopsisSince the 2008 financial crisis, beneficiary organizations—like pension funds, sovereign wealth funds, endowments, and foundations—have been seeking ways to mitigate the risk of their investments and make better financial decisions. For them, Reframing Finance offers a path forward. This book argues that institutional investors would better serve their long-term goals by putting money into large-scale, future-facing projects such as infrastructure, green energy, innovation in agriculture, and real estate development. At the same time, redirecting long-term investments would close significant financial gaps that government cannot. Drawing on key contributions in economic sociology, social network theory, and economics, the book conceptualizes a collaborative model of investment that is already becoming increasingly common: Large investors contribute more directly to private market assets, while financial intermediaries seek to foster co-investment partnerships, better aligning incentives for all. A combination of rich case studies and rigorous theory enables asset owners to move toward more efficient, private-market investing, while also laying groundwork for research at the frontier of finance.Trade Review"Beyond reporting the latest thinking on institutional investment, this book guides asset managers and owners through an increasingly complex environment. Skillfully blending theoretical insights with practical guidance and case studies, it is essential reading for owners and managers seeking to maximize the impact of their long-term investments."—Paul Rose, Ohio State University, Moritz College of Law"What gets measured gets managed. This book outlines the things that truly make the long-term difference to investment effectiveness and returns, namely: comparing global best practices, collaborating on issues of joint interest, and ultimately co-investing. These '3Cs' rely purely on trusted relationships, which need to be identified, built, and nurtured. I congratulate the authors on identifying this need, and providing the theoretical, empirical, and practical framework to guide us."—Adrian Orr, CEO of the Guardians of New Zealand Superannuation and Chairman of the International Forum of Sovereign Wealth Funds"Many of the most serious problems in our society—from crumbling infrastructure to environmental degradation—can only be addressed through long-run investments. Meanwhile, large pension funds are seeking higher returns than those traditional stocks and bonds can offer. Reframing Finance explores this critically important territory, deftly documenting both the barriers to long-run investing and how they can be overcome."—Josh Lerner, Harvard Business School"The authors shed light on the misalignment between long term investors and intermediaries when it comes to lower risk, long term real assets in private markets. They suggest solutions, many of which CPPIB employs—that enable investors to effectively utilize the advantages of long horizon and scale."—Mark Machin, President and CEO, CPPIB"Finally, a manifesto for the future of finance that is informed, has vision, and takes seriously what can be accomplished in the long-term. The authors have produced a roadmap that should be heeded by the financial services industry, government, and academia. With breadth to match its depth, this book is pathbreaking!"—Gordon L. Clark, Oxford University"This book raises provocative questions about our current capitalist system and suggests how long-term capital can be better allocated to address the world's toughest problems. The book's thoughtful analysis and comprehensive solutions are relevant for investors, CEOs, and policy-makers alike."—Dominic Barton, Global Managing Partner, McKinsey & Company"In this clearly written volume, Monk and Sharma (Stanford Univ.) and Sinclair (Deloitte) make a strong case for mobilizing the vast sums held in the institutional finance universe (endowments, sovereign funds, foundations, pension funds, insurance companies) to finance long-term investments (infrastructure, clean energy, toll roads, pollution control)...Recommended."—C. J. Siegman, Choice"Reframing Finance is one of few academic volumes that rigorously explore the potential and viability of alternative investment models, amidst critical literature on infrastructure finance that gives limited attention to possible alternatives."––Jenny McArthur, Journal of Economic GeographyTable of Contents1. A Collaborative Model for Long-Term Investing 2. Building an Institutional Investor's Collaborative Network and Social Capital 3. Re-intermediating Investment Management 4. New Vehicles to Drive the Collaborative Model 5. The Future of Long-Term Institutional Investment
£26.99
John Wiley & Sons Inc Portfolio Selection: Efficient Diversification of
Book SynopsisThis is a classic book, representing the first major breakthrough in the field of modern financial theory. In effect, it created the mathematics of portfolio selection in a model which has turned out to be the indispensable building block from which the theory of the demand for risky securities is constructed.Trade Review"Modern portfolio theory gives a rigorous mathematical justification for the time honored investment maxim that diversification is a sensible strategy for individuals who wish to reduce their risks. Invented in the 1950s by Harry Markowitz in this book, the theory provides a firm foundation for the intuition that you should not put all your eggs in one basket and shows investors how to combine securities to minimize risk." Butron G Malkiel, author of "A Random Walk Down Wall Street" "In every field of study it is possible to look back and identify a person or event that caused a major change in the direction or development of the field. In investments it is clear that the seminal work by Harry Markowitz on portfolio theory changed the field more than any other single event." Frank K. Reilly, University of Notre Dame, IndianaTable of ContentsPreface. Part I: Introduction and Illustrations:. 1. Introduction. 2. Illustrative Portfolio Analysis. Part II: Relationships Between Securities and Portfolios:. 3. Averages and Expected Values. 4. Standard Deviations and Variances. 5. Investment in Large Numbers of Securities. 6. Return in the Long Run. Part III: Efficient Portfolios:. 7. Geometric Analysis of Efficient Sets. 8. Derivation of E, V Efficient Portfolios. 9. The Semi-Variance. Part IV: Rational Choice Under Uncertainty. 10. The Expected Utility Maxim. 11. Utility Analysis Over Time. 12. Probability Beliefs. 13. Applications to Portfolio Selection. Bibliography. Addendum. Appendix A: The Computation of Efficient Sets. B: A Simplex Method for the Portfolio Selection Problem. C: Alternative Axiom Systems for Expected Utility. Index. Part V: Notes on Previous Chapters. Note on Chapter IV. Note on Chapter V. Note on Chapter VI. Note on Chapter VII. Note on Chapter VIII and Appendix A. Note on Chapter IX. Note on Part IV and Appendix C. Appendix: Personal Notes
£58.50
John Wiley & Sons Inc Market Microstructure Theory
Book SynopsisWritten by one of the leading authorities in market microstructure research, this book provides a comprehensive guide to the theoretical work in this important area of finance.Table of ContentsForeword. 1. Markets and Market-Making. 2. Inventory Models. 3. Information-Based Models. 4. Strategic Trader Models I: Informed Traders. 5. Strategic Trader Models II: Uninformed Traders. 6. Information and the Price Process. 7. Market Viability and Stability. 8. Liquidity and the Relationships between Markets. 9. Issues in Market Performance.
£65.24
John Wiley & Sons Inc Financial Risk Management: Domestic and
Book SynopsisComprehensively integrating the most important issues in financial risk management, this text clearly presents the latest techniques and strategies in domestic and international investment management. All the chapters represent in-depth reviews of the latest research, providing an ideal text for advanced undergraduate and MBA students who use quantitative techniques for investment and portfolio management.Table of ContentsPreface. 1. Introduction: The Nature of Financial Risk. 2. The Fixed Income Markets: Nature and Dynamics. 3. Interest Risk Management: Hedging Assets and Liabilities. 4. The Foreign Exchange Markets: Nature and Dynamics. 5. Currency Risk Management: Hedging and Speculating with Options and Futures. 6. Portfolio Risk Management: Domestic Dimensions. 7. Portfolio Risk Management: International Dimensions. 8. The Search for Higher Returns: Anomalies. Index.
£56.69
Bloomberg Press Sentiment Indicators: Renko, Price Break, Kagi,
Book Synopsis
£35.62
Bloomberg Press The Evolution of Technical Analysis: Financial
Book Synopsis
£19.54
Bloomberg Press Hedge Hunters: After the Credit Crisis, How Hedge
Book Synopsis
£11.69
Bloomberg Press Investing in Energy: A Primer on the Economics of
Book Synopsis
£35.62
John Wiley & Sons Inc Financial Futures Primer
Book SynopsisThe Financial Futures Primer provides the reader with an introduction to the futures markets in general and financial futures in particular.Table of Contents1. Futures Markets. 2. Futures Prices. 3. Using Futures Markets. 4. Interest Rate Futures: Introduction. 5. Interest Rate Futures: Refinements. 6. Stock Index Futures: Introduction. 7. Stock Index Futures: Refinements. 8. Foreign Currency Futures.
£26.34
John Wiley & Sons Inc Options Primer
Book Synopsisaeo Brief, yet comprehensive introduction to the complex issues surrounding options aeo Building block approach toward the factors affecting option pricing aeo OPTVAL! software accompanies each copy of the text.
£27.20
John Wiley and Sons Ltd Practical Readings in Financial Derivatives
Book SynopsisTwo central themes govern the content--the pricing of financial derivatives and their practical application in risk management.Table of ContentsPart I: Instruments and Pricing:. Futures and Forwards:. 1. Determining the Relevant Fair Value(s) of S & P 500 Futures: A Case Study Approach: Ira G. Kawaller. 2. Cash-and-Carry Trading and the Pricing of Treasury Bill Futures: Ira G. Kawaller and Timothy W. Koch. Options:. 3. How to Use the Holes in Black and Scholes: Fischer Black. Swaps:. 4. Beyond Plain Vanilla: A Taxonomy of Swaps: Peter A. Abken. 5. The Pricing of Interest Rate Swaps: John F. Marshall and Kenneth R. Kapner. 6. Over-the-Counter Interest Rate Derivatives: Anatoli Kuprianov. Exotics:. 7. Path-Dependent Options: William C. Hunter and David W. Stowe. 8. Path-Dependent Options: Valuation and Applications: William C. Hunter and David W. Stowe. 9. An Introduction to Special-Purpose Derivatives: Path-Dependent Options: Gary Gastineau. Part II: Risk Management Applications:. Overview:. 10. Managing Financial Risk: Clifford W. Smith, Jr. Charles W. Smithson, and D. Sykes Wilford. Debt Markets:. 11. Improving Hedging Performance Using Interest Rate Futures: Robert W. Kolb and Raymond Chiang. 12. Immunizing Bond Portfolios with Interest Rate Futures: Robert W. Kolb and Gerald D. Gay. 13. Interest Rate Swaps versus Eurodollar Strips: Ira G. Kawaller. Equity Markets:. 14. The Mechanics of Portfolio Insurance: Thomas J. O'Brien. 15. Alternative Paths to Portfolio Insurance: Mark Rubinstein. 16. The October Crash: Some Evidence on the Cascade Theory: G. J. Santoni. 17. Portfolio Insurance and the Market Crash: Mark Rubinstein. Over-the-Counter Markets:. 18. The Role of Interest Rate Swaps in Corporate Finance: Anatoli Kuprianov. 19. A Tale of Two Bond Swaps: Andrew Kalotay and Bruce Tuckman. 20. Over-the-Counter Financial Derivatives: Risky Business?: Peter A. Abken. Preface.
£47.45
John Wiley & Sons Inc Big Money, Less Risk: Trade Options
Book SynopsisBig Money, Less Risk: Trade Options will put the income boosting power of strategies like writing covered calls, selling naked put options, and placing vertical spread trades or iron condors in your hands. Mark Larson has become one of the most sought after trading educators because of his ability to make once elusive investment approaches accessible to every trader. Success in the stock market is determined by consistently making money every month, not closing your eyes and hoping you can afford to retire. With this book, Larson divulges the secrets to making your money work for you instead of having to work for your money. Ever dream about making 30% in one month? Big Money, Less Risk: Trade Options will put the income boosting power of strategies like writing covered calls, selling naked put options, and placing vertical spread trades or iron condors in your hands. Mark Larson has become one of the most sought after trading educators because of his ability to make once elusive investment approaches accessible to every trader. Success in the stock market is determined by consistently making money every month, not closing your eyes and hoping you can afford to retire. With this book, Larson divulges the secrets to making your money work for you instead of having to work for your money. Inside you'll learn: How to repeatedly make money when the market goes up or down. Investment strategies that allow for huge returns with the use of very little money. How to purchase good stocks at discount prices. How to make significant returns even if you are wrong on the trade. Larson will alo cover the importance of option pricing, implied volatility, the Greeks such as delta, theta, and gamma, and the probability of your option expiring profitable. Most important, you will get, in plain English, some of his favorite technical indicators and the key to how they will form the basis of your options trading success.Table of ContentsForeword vii Preface ix Acknowledgement xiii Introduction xv Chapter One: Pointing the Way with Technical Indicators 1 Chapter Two: An Introduction to Options 47 Chapter Three: It’s All Greek To You: Understanding Delta, Gamma, and Theta 87 Chapter Four: Making The Call: Buying Call Options 101 Chapter Five: You Have It Covered: Covered Calls 129 Chapter Six: Put It Down: Buying Put Options 141 Chapter Seven: Passing It On: Selling Puts 151 Big Money, Less Risk: Trade Options Chapter Eight: Spreading the Wealth: Vertical Bull Put Spreads 165 Chapter Nine: What’s the Spread: Vertical Bear Call Spreads 183 Chapter Ten: Taking Flight with Iron Condors 199 Conclusion 217 Appendix A: Advanced Order Feature on thinkorswim.com 219 Appendix B: Protect Your Assets 221 Glossary 223 Recommended Reading 229
£24.79
John Wiley & Sons Inc LEAPS Trading Strategies: Powerful Techniques for
Book SynopsisInvestors are increasingly turning to LEAPS (Long-Term Equity AnticiPation Securities) to combine the advantages of options trading with the benefits and security of a longer time frame. Here, Marty Kearney of the Options Institute at the Chicago Board Options Exchange examines the wide range of practical and effective strategies for managing LEAPS, and shows you how to match these strategies to your own risk profile. Learn how to tailor your options program using LEAPS and devise key strategies to improve profitability, protect paper profits, and avoid losses in long stock positions. Use LEAPS to produce monthly income Identify key elements in determining LEAPS prices Master LEAPS symbols and expiration cycles Insure your portfolio against market pullbacks Manage year-end tax consequences Establish security positions with little risk Kearney walks you through the inner workings of LEAPS and shows you compelling strategies for incorporating them into your overall approach to market. With instant access to the online video, you'll have everything you need to begin profiting with LEAPS.Table of ContentsPublisher’s Preface v How to Use This Book vii Meet Marty Kearney ix Introduction: Profits from LEAPS Options xiii Chapter 1: A Brief Review of the Basics 1 Chapter 2: Why Bother with LEAPS? 19 Chapter 3: Using LEAPS in a Gifting Program 31 Chapter 4: LEAPS vs. Stock Ownership 41 Chapter 5: Covered Writing with LEAPS 57 Chapter 6: LEAPS Protective Puts and Collars 75 Chapter 7: A Year-End LEAPS Tax Strategy 93 Glossary 107
£24.79
PennWell Books The Acquisition & Divestiture of Petroleum
Book SynopsisIn the 2nd edition of The Acquisition & Divestiture of Petroleum Property, authors Jim Haag & Gene Wiggins have revised and expanded upon the insightful and comprehensive first edition. This book will be of value to anyone who wants to learn the industry standard steps needed to acquire or sell oil and gas property.The book now includes a new format and sections on: The consideration of geology in property analysis The determination of oil and gas reserves quantities by reservior engineering methods The assessments of property value The evaluation of exploratory opportunities The analysis of unconventional resources and reserves Updated market value from recent transactions A review of the challenges to acquire properties outside the U.S. Additional case histories .
£76.50
Templeton Foundation Press,U.S. The Templeton Touch
Book SynopsisAlthough John Templeton (1912–2008) simply considered himself a bargain hunter, those in the know on Wall Street considered him one of the greatest stock pickers of the twentieth century. Anyone prudent enough to have invested $10,000 in his Templeton Growth Fund when it was first established in 1954 would today have over $7 million to their name if they left those funds alone. Few mutual funds can match that kind of spectacular and consistent performance. How did he do it? What kind of principles guided his decisions through bull and bear markets? What was the secret to his success? Fortunately, generosity was one of Templeton’s defining characteristics, and he freely shared his investing wisdom with the world in The Templeton Touch. This edition, which has been greatly expanded and revised from the original 1983 publication, gives the reader an inside look at the mindset that made Templeton a Wall Street legend. His global focus, his relentless curiosity, his future-mindedness, his personal touch with clients, his willingness to take reasonable risks, his reliance on deep research and fundamental analysis— everything that set him apart from the crowd is covered here in great detail by authorized biographer William Proctor. This updated edition also contains a new section comprised of twenty-two interviews with those who knew and worked with Templeton, conducted by Scott Phillips. Among those interviewed are business luminaries like Jim Rogers, Julian Robertson, Steve Forbes, Prem Watsa, Mason Hawkins, and Michael Price. The Templeton Touch should be required reading for any investor, from the absolute novice to the most experienced. Not only could Templeton’s practical advice help guide investors through tricky market conditions, but the many insights into his character and his philosophies could help anyone live a more successful life.
£25.19
Wharton Digital Press Making Money Moral: How a New Wave of Visionaries
Book Synopsis"As we look ahead to the recovery from the COVID-19 crisis, Making Money Moral could not come at a better time." —Jamie Dimon, Chairman and Chief Executive Officer, JPMorgan Chase The math doesn't add up: Global financial markets can no longer ignore the world's most critical problems. The risks are too high and the costs too great. In Making Money Moral: How a New Wave of Visionaries Is Linking Purpose and Profit, authors Judith Rodin and Saadia Madsbjerg explore a burgeoning movement of bold and ambitious innovators. These trailblazers are unlocking private-sector investments in new ways to solve global problems, from environmental challenges to social issues such as poverty and inequality. They are earning great returns and reimagining capitalism in the process. Pioneers in the field of sustainable and impact investing, Rodin and Madsbjerg offer first-hand stories of how investors of every type and in every asset class are investing in world-changing solutions—with great success. Meet the visionaries who are leading this movement:The investment managers putting trillions of dollars to work, like TPG, Wellington Management, State Street Global Advisors, Nuveen, Amundi, APG and Natixis;The asset owners driving the transition, like GPIF and PensionDanmark;A new generation of entrepreneurs benefiting from the investments, like DreamBox Learning, an innovative educational technology platform, and Goodlife Pharmacies, which is disrupting the traditional notion of a pharmacy; The corporations that are repurposing their business models to meet demand for sustainable products and services, like Ørsted; andThe nonprofits that are reimagining how to raise money for their work while creating significant value for investors, like The Nature Conservancy. In their book, Rodin and Madsbjerg offer a deep look at the most powerful tools available today—and how they can be unlocked. They reveal:Who the investors are and what they want;How innovative products and investment strategies can deliver long-term value for investors while improving lives and protecting ecosystems;How leaders can build strategies and prepare their organizations to enter and expand this dynamic market; andHow to measure impact, understand critical regulations, and avoid potential pitfalls.A roadmap to making the financial market a force for good, Making Money Moral is a must-read for those seeking private-sector capital to address a big problem, as well as those seeking both to mitigate risk and to invest in big solutions. "Judith Rodin and Saadia Madsbjerg identify an important new way of looking at money: from the root of all evil to the fount of all solutions. Their timely, important book on impact investing is full of powerful insights and compelling examples they've seen firsthand. Their work will be sure to accelerate momentum toward a more sustainable world." —Rosabeth Moss Kanter, Harvard Business School Professor and Author of Think Outside the Building: How Advanced Leaders Can Change the World One Smart Innovation at a TimeTrade Review"Judith Rodin and Saadia Madsbjerg identify an important new way of looking at money: from the root of all evil to the fount of all solutions. Their timely, important book on impact investing is full of powerful insights and compelling examples they've seen firsthand. Their work will be sure to accelerate momentum toward a more sustainable world." * Rosabeth Moss Kanter, Harvard Business School Professor and Author of Think Outside the Building: How Advanced Leaders Can Change the World One Smart Innovation at a Time *"As we look ahead to the recovery from the COVID-19 crisis, Making Money Moral could not come at a better time. Rodin and Madsbjerg make a compelling case, through well-researched analysis, that, in rebuilding our economies, healthy growth along with sustainable and impact investing will be critical for the future of our planet, its people, and our economic system. Making Money Moral challenges those of us in the investment community to help to lead the way." * Jamie Dimon, Chairman and Chief Executive Officer, JPMorgan Chase *"Anyone who wants to understand the link between capital markets and progress towards a more sustainable, peaceful, and prosperous world should put this book at the top of their reading list. Through real-life examples and in-depth conversations with experts, Making Money Moral demonstrates the power of bringing together the world of finance and the world of impact." * Jeff Skoll, Founder and Chairman, Skoll Foundation, Co-Founder, The Rise Fund *"This book is packed with powerful ideas, insightful analysis, and inspiring stories. In Making Money Moral, Rodin and Madsbjerg, who helped accelerate the growth of this field with their groundbreaking work at the Rockefeller Foundation, make the compelling argument that when capital markets shift their priorities and adopt more responsible, sustainable approaches to making a profit, they can become a tremendous force for good. It will be required reading for all business students seeking a critical lens on the field, including an outstanding chapter on impact measurement." * Laura Arrillaga-Andreessen, Founder and Chair, Stanford Center on Philanthropy and Civil Society, Silicon Valley Social Venture Fund; Author, Giving 2.0 *"Making Money Moral is an essential read for those who want to make capitalism work for everyone—not just a few. This is an issue that looms larger than ever as we come out of the current public health and financial crisis that highlighted long standing economic inequities. Through engaging stories and insightful analysis, Rodin and Madsbjerg offer an inspiring look at the partnerships and financial innovations reshaping capital markets in the twenty-first century. They show us how business leaders, nonprofit leaders, and investors can promote a thriving economy while also expanding opportunities for all." * Helene D. Gayle, MD, MPH, President & CEO for The Chicago Community Trust; Board Member, Colgate Palmolive, The Coca Cola Company, and Go Health *"At a time when capitalism is facing a profound crisis of legitimacy, Making Money Moral shows us how we can make capitalism more inclusive. Through lively, readable prose, using the latest research and expert interviews, the authors analyze how a sustainable and impact investment approach can enhance profitability and better serve society. They show us that the companies doing most to improve lives and protect the planet are poised to become tomorrow's most valuable businesses. This book is a critical read for asset owners and investment managers alike." * Lady Lynn Forester de Rothschild, Founder and CEO of the Coalition for Inclusive Capitalism; Founding and Managing Partner, Inclusive Capital Partners *"Making Money Moral could not be more timely. It will quickly become the go-to manual for anyone who wants to learn about impact investing, including those already in the field who are watching it explode, from two authors who were there from the beginning." * Anne-Marie Slaughter, CEO, New America *"In this rigorously researched and well-written book, Rodin and Madsbjerg tackle a vital subject: the role of financial markets in progress toward a better world. By tracking the growth of sustainable and impact investing and the potential it offers for meeting the sustainable development goals, the authors offer a view of the future of capitalism that is both realistic and hopeful." * Peter Blair Henry, W. R. Berkley Professor of Economics and Finance; Dean Emeritus, New York University Leonard N. Stern School of Business *"In Making Money Moral, Rodin and Madsbjerg describe investment strategies to increase environmental sustainability and ameliorate social challenges while also succeeding financially. This book provides an essential guide for business school students who want to understand this growing field. At once engaging and rigorous, this book provides critically important guidance for those in finance, business, government, and the nonprofit sector who seek to grow and strengthen the practice of sustainable and impact investing. The authors' emphasis on identifying and analyzing the critical partnerships in this ecosystem is first-rate." * Katherine Klein, Edward H. Bowman Professor, Professor of Management; Vice Dean and Director, Wharton Social Impact Initiative, The Wharton School *"If you're an entrepreneur looking to tap the $30 trillion market for impact and sustainable investment capital, Making Money Moral is an essential read. I watched first-hand how Rodin and Madsbjerg helped transform impact investing from a small, socially focused asset class to its prominence in the financial markets in every asset class. The book does an outstanding job in identifying who is moving the markets today and what it takes to succeed to create both purpose and profit. There is critical information for asset owners, advisors, and money managers alike, and for nonprofit and business leaders who want to think more boldly about their role in this new world." * Strive Masiyiwa, Founder and Group Executive Chairman, Econet Group *"Making Money Moral is a revelation for any firm looking to help investors take innovative paths toward growth. Rodin and Madsbjerg are the go-to experts to help guide an understanding of the concepts of sustainable and impact investing. Making Money Moral is a must-read for anyone looking to use new financial tools to build a better future." * John Haley, CEO, Willis Towers Watson *"We created The Rise Fund at TPG to finance cutting edge companies that have innovative, high impact solutions to social and environmental problems. Rodin and Madsbjerg show how these and other types of capital investments, in every asset class, can have transformative effects. Their book makes an essential contribution at this moment when reassessing the role of private capital is so high on the global agenda. Their critical review of the state of the field, their analysis of approaches to impact measurement and their understanding of what it takes to most effectively link purpose and profit makes this book a must-read for all who want to understand this exploding field." * Jon Winkelried, Co-Chief Executive Officer, TPG *
£17.99
University of Massachusetts Press Investment Management in Boston: A History
Book SynopsisPresented here for the first time is the history of Boston’s evolution as a center of American money management from early settlement to the twenty-first century. Within a few decades after the Revolution, Bostonians built up an impressive mercantile and industrial economy, and used wealth accrued from the China trade, New England mills, and other ventures to establish the most important stock exchange in America. They also created the “Boston trustee,” a unique professional who managed private fortunes over generations. During the late nineteenth century, Boston financial institutions were renowned as bastions of stability and conservatism in an era of recurrent economic panics and frequent failures.It was not until the twentieth century that Boston became better known for its role in investment management. In 1924, local financiers created the first mutual fund, an innovation almost a century in the making. After World War II, Boston originated venture capital with the founding of American Research & Development. This was soon followed by the development of private equity, the growth of the mutual fund industry, the pension “revolution” that changed and strengthened money management, the evolution in management of institutional endowments, and the rise of new family offices and hedge funds. The contributions of fiduciaries and investment managers have played an important part in the rise of the “New Boston” and made the city one of the most vibrant financial capitals in the world.
£26.06
Grey House Publishing Inc Financial Literacy: How to Become an Investor, 2022/23
Book SynopsisThe third installment to our popular Financial Literacy line, How to Become an Investor, is designed for library patrons who want to know more about investing but aren't sure where to start. This new series breaks through the financial jargon to give readers real-world information to help them learn about investing, determine how aggressive or conservative their investments should be, and find out which investments are right for them. Written in an easy-to-follow, informative style, these guides walk the user through many types of investment options, providing sound guidance and need-to-know information along the way.
£267.00
Business Expert Press The Corporate Executive's Guide to General
Book SynopsisSuccessful corporate executives face unique investing challenges, because their personal wealth is irrevocably tied to their company's performance, normal market ups and downs, and even unexpected events. An executive's investment portfolio may consist mostly of employer stock and stock options that are governed by rules the executive doesn't know about and can't control. And the executive also faces a variety of other financial landmines, ranging from taxes to corporate pension shortfalls.So the forward-thinking corporate executive badly needs effective financial management and investing strategies to build a financially secure future, designed with the special needs of a corporate executive in mind. That is what this guide will provide: the essence of what investments and investing strategies the executive should consider employing to achieve financial independence sooner, rather than later.The audience for this investing guide includes C-suite executives, middle managers, and those in supervisory positions with executive responsibilities or aspirations. It will also be useful for MBA students, those in executive education seminars, and others who are planning corporate careers.This book will teach the executive reader: How to set the proper goals before investing How to maximize corporate resources for your investing goals How to understand and choose from the different types of investments, including bank investments, stocks, mutual funds, exchange-traded funds (ETFs), venture capital investments, real estate investments, and alternative investments. How design an effective portfolio strategy for an executive's situation
£21.80
Plunkett Research Plunkett's Investment & Securities Industry
Book Synopsis
£297.00
