Search results for ""Harriman House""

For the first time the complete financial history of Berkshire Hathaway is available under one cover in chronological format. Beginning at the origins of the predecessor companies in the textile industry, the reader can examine the development of the modern-day conglomerate year-by-year and decade-by-decade, watching as the struggling textile company morphs into what it has become today. This comprehensive analysis distils over 10,000 pages of research material, including Buffett’s Chairman’s letters, Berkshire Hathaway annual reports and SEC filings, annual meeting transcripts, subsidiary financials, and more. The analysis of each year is supplemented with Buffett’s own commentary where relevant, and examines all important acquisitions, investments, and other capital allocation decisions. The appendices contain balance sheets, income statements, statements of cash flows, and key ratios dating back to the 1930s, materials brought together for the first time. The structure of the book allows the new student to follow the logic, reasoning, and capital allocation decisions made by Warren Buffett and Charlie Munger from the very beginning. Existing Berkshire shareholders and long-time observers will find new information and refreshing analysis, and a convenient reference guide to the decades of financial moves that built the modern-day respected enterprise that is Berkshire Hathaway.

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In the space of a few months, across Asia, a miracle became a nightmare. This was the Asian Financial Crisis of 1995-98. In this economic crisis hundreds of people died in rioting, political strong men were removed and hundreds of billions of dollars were lost by investors. This crisis saw the US dollar value of some Asian stock markets decline by ninety percent. Why did almost no one see it coming? The Asian Financial Crisis 1995-98 charts Russell Napier's personal journey during that crisis as he wrote daily for institutional investors about an increasingly uncertain future. Relying on contemporaneous commentary, it charts the mistakes and successes of investors in the battle for investment survival in Asia from 1995-98. This is not just a guide for investors navigating financial markets, but also an explanation of how this crisis created the foundations of an age of debt that has changed the modern world.

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3rd edition with new foreword by Ian Cassel Wouldn't life be better if you were free of the daily grind - the conventional job and boss - and instead succeeded or failed purely on the merits of your own investment choices? Free Capital is a window into this world. Based on a series of interviews, it outlines the investing strategies, wisdom and lifestyles of 12 highly successful private investors. Each of them has accumulated £1m or more - in most cases considerably more - mainly from stock market investment. Six are 'ISA millionaires' who have £1m or more in a tax-free ISA, a result which is arithmetically impossible without exceptional investment returns. Some have several academic degrees or strong City backgrounds; others left school with few qualifications and are entirely self-taught as investors. Some invest most of their money in very few shares and hold them for years at a time; others make dozens of trades every day, and hold them for at most a few hours. Some are inveterate networkers, who spend their day talking to managers at companies in which they invest; for others a share is just a symbol on a screen, and a price chart shows most of what they need to know to make their trading decisions. Free capital - money surplus to immediate living expenses - is the raw material with which these investors work. It can also be thought of as their psychological habitat, free from the petty tribulations of office politics. Lastly, free capital describes the footloose nature of their assets, which can be quickly redirected towards any type of investment anywhere in the world, without the constraints which institutional investors often face. Although it presents many advanced insights and valuable investment hints, this is not an overly technical book. It offers practical ideas and inspiration, with revealing detail and minimal jargon, making it an indispensable read for novice and experienced investors alike.

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Jack D. Schwager has returned to the traders to ask them how they navigated the unprecedented markets of 2020-2022, including the pandemic bear market, an abrupt reversal to new highs, rising inflation, and the emergence of another bear market. All chapters updated with exclusive new interviews with the Unknown Market Wizards. Unknown Market Wizards continues in the three-decade tradition of the hugely popular Market Wizards series, interviewing exceptionally successful traders to learn how they achieved their extraordinary performance results. The twist in Unknown Market Wizards is that the featured traders are individuals trading their own accounts. They are unknown to the investment world. Despite their anonymity, these traders have achieved performance records that rival, if not surpass, the best professional managers. Some of the stories include: - A trader who turned an initial account of $2,500 into $50 million. - A trader who achieved an average annual return of 337% over a 13-year period. - A trader who made tens of millions using a unique approach that employed neither fundamental nor technical analysis. - A former advertising executive who used classical chart analysis to achieve a 58% average annual return over a 27-year trading span. - A promising junior tennis player in the UK who abandoned his quest for a professional sporting career for trading and generated a nine-year track record with an average annual return just under 300%. World-renowned author and trading expert Jack D. Schwager is our guide. His trademark knowledgeable and sensitive interview style encourages the Wizards to reveal the fascinating details of their training, experience, tactics, strategies, and their best and worst trades. There are dashes of humour and revelations about the human side of trading throughout. The result is an engrossing new collection of trading wisdom, brimming with insights that can help all traders improve their outcomes.

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The face of financial services has evolved – and, along with it, the very nature of financial advice. In an increasingly complex world where people are starving for someone they can trust, the time has come for financial advisors to rise to the occasion and reinvent the value they provide to better serve their clients. Of course, to make this evolutionary leap, advisors require a proven, time-tested strategy. A methodology established by one of the most successful advisors in the country and backed by decades of real-world application among thousands of advisors across the country. In Proven in the Trenches: 11 Principles to Maximize Advisor Value and Transform Your Firm’s Future, advisors will receive an actionable game plan touching on the core dimensions of a highly-functioning financial services firm: • Understanding Investor Behavior • Blueprinting Your Life and Your Business • Attracting Talent by Growing Your Own • Putting Process Behind Your People • Building a Brand that Connects and Converts • Wealth Planning and What It Takes to Revive Advisor Value • Creating a Compelling Client Experience • Evaluating Partnerships • Attracting New Clients and the Art of Ethical Persuasion • Plotting Your Succession • Making the Shift from Advisor to CEO

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Did you know you’re likely to have had over 89,000 heated altercations with your closest relations before you reached the age of eight? By age 16, thousands more hours will have been spent by most of us in some form of disagreement with those in our extended social networks. As a species, we’re well practised at falling out with each other. We may even have a gene for it – certainly, some of us seem to be gifted. When it comes to finding resolutions, however, things don’t come quite so naturally: as much as 90% of all inter-personal conflicts never reach agreement. But it doesn’t have to be this way. I Don’t Agree is a fascinating exploration of new, powerful and surprising solutions to an ancient problem: why we disagree so much. It shows how to sidestep our animosities and get great things done, despite our differences. Underpinned by cutting-edge research and academic thinking (as well as fascinating real-life case studies and easy-to-use tools), author and marketeer Michael Brown reveals the eye-opening secrets that can lead to better leadership, stronger teams, swifter promotions, more effective collaboration, better organisational culture – as well as radically improving your life outside of work.

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Over 15 compelling chapters, Ian Murphy unpacks the world of a private trader, providing a wealth of practical tools for those wishing to make a living from the markets. In Part A he examines the job of a trader and their relationship with the market - and how to survive where so many others have failed. In Part B he reveals the habits of serious professionals. These include essential procedures such as the Eight Checks and the Nine Filters which should be employed by all traders before a single penny is placed in the market. Most important of all, Ian explains how the Five Limits of Risk allow us to embrace the dangers at the heart of trading, so we can face the market with confidence and clarity. In the Six Edges chapter, psychology - the key to trading success - is closely examined and we see how the concept of a trading 'edge' is overrated and misunderstood. We also learn how Buddhist techniques for working with the mind can be profitably employed in the market. In Part C the author shares three consistently profitable trading strategies which expose opportunities inherent in the market and demonstrates how to leverage those opportunities. These strategies are explained in great detail with the aid of marked-up charts and backtested results. Way of the Trader is a must read for anyone thinking of trying their hand at trading. It's also an indispensable tool for experienced traders who are unable to remain profitable over the long run and need to introduce order and structure to their daily routine. Murphy doesn't claim to be another market guru or promise to make you millions. He's the guy up the street who figured out how to become profitable after years of frustration and confusion. Based on his own experience and that of other professional traders, he systematically demonstrates how patience and perseverance, when coupled with an open mind and hard work, offer a path to a lifestyle which is financially independent and free.

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Creativity is all around us. Not in art galleries. But on the train, at work, in the street outside, and in schools, hospitals and restaurants. Creative vision exists wherever people are. In this entertaining collection of real-life stories, Dave Trott applies his crystal clear lens to define what genuine creative vision looks like. It is problem solving, clarity of thought, seeing what others do not see, and removing complexity to make things as simple as you can. The timeless lessons revealed here can be applied in advertising, business and throughout everyday life. By seeing things differently, you can think differently, and change the world around you. Dave Trott shows you how.

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Trading can be intensely rewarding. But it is also one of the most mentally and emotionally challenging activities anyone can pursue. As in other high-performance domains, those who are serious about mastering their craft and staying in the game spend serious time working on their game, including training their mind and body. Steve Ward has spent the last 15 years working as a performance coach with financial traders and investors at some of the biggest and most successful investment banks, hedge funds, asset managers, commodities trading houses and proprietary trading groups across the globe, helping them to perform at their best, to navigate the highs and lows of trading and investing in the markets, and to sustain high performance for the long run. As one hedge fund client put it to him, “It’s about becoming bulletproof”. Becoming a bulletproof trader is forged over time through experience, and by applying the latest insights from biological and psychological sciences, the best that practical philosophy can teach us, and a healthy dose of pragmatism – doing what actually works in the real world of trading the markets. This book brings together all of Steve’s latest insights into how to deal with stresses and setbacks and sustain high performance in a comprehensive, accessible and unmissable book, so that you too can become a bulletproof trader. Don’t trade without it.

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Personal finance expert and podcaster extraordinaire Pete Matthew guides you through everything you need to KNOW and everything you need to DO to build a secure financial future for yourself and your family. This is achievable for everyone by following three simple steps: 1. Spend less than you earn and clear debt. 2. Insure against disaster. 3. Build up your savings and invest wisely. You will learn: * How to get out of debt as quickly as possible. * Techniques for good financial control, so you can avoid getting into debt again. * The importance of insurance for laying down a foundation on which to build a solid financial plan, which isn't washed away by an unexpected disaster. * How to save and invest simply and efficiently so that you can work your way towards future financial freedom. No matter your starting position, or your existing level of comfort with dealing with your money, Pete Matthew's calm, straightforward and jargon-free approach will appeal to you and help you to set out on the right path. The Meaningful Money Handbook is a practical guide to succeeding with money by cutting out the stuff you don't need to know, and clarifying the essential things you need to do, to make a real difference to your life. Don't put it off any longer - pick up this book and start to take a meaningful approach to your money today.

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How does money figure into a happy life? In The Geometry of Wealth, behavioral finance expert Brian Portnoy delivers an inspired answer, building on the critical distinction between being rich and being wealthy. While one is an unsatisfying treadmill, the other is the ability to underwrite a meaningful life, however one chooses to define that. Truly viewed, wealth is funded contentment. At the heart of this groundbreaking perspective, Portnoy takes readers on a journey toward wealth, informed by disciplines ranging from ancient history to modern neuroscience. He contends that tackling the big questions about a joyful life and tending to financial decisions are complementary, not separate, tasks. These big questions include: - How is the human brain wired for two distinct experiences of happiness? And why can money "buy" one but not the other? - What are the touchstones of a meaningful life, and are they affordable? - Why is market savvy among the least important sources of wealth but self-awareness is among the most? - How does one strike a balance between striving for more while being content with enough? This journey memorably contours along three basic shapes: A circle, triangle and square help us to visualize how we adapt to evolving circumstances, set clear priorities, and find empowerment in simplicity. In this accessible and entertaining book, Portnoy reveals that true wealth is achievable for many - including those who despair it is out of reach - but only in the context of a life in which purpose and practice are thoughtfully calibrated.

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Before you can influence decisions, you need to understand what drives them. In The Choice Factory, Richard Shotton sets out to help you learn. By observing a typical day of decision-making, from trivial food choices to significant work-place moves, he investigates how our behaviour is shaped by psychological shortcuts. With a clear focus on the marketing potential of knowing what makes us tick, Shotton has drawn on evidence from academia, real-life ad campaigns and his own original research. The Choice Factory is written in an entertaining and highly-accessible format, with 25 short chapters, each addressing a cognitive bias and outlining simple ways to apply it to your own marketing challenges. Supporting his discussion, Shotton adds insights from new interviews with some of the smartest thinkers in advertising, including Rory Sutherland, Lucy Jameson and Mark Earls. From priming to the pratfall effect, charm pricing to the curse of knowledge, the science of behavioural economics has never been easier to apply to marketing. The Choice Factory is the new advertising essential.

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Smart Portfolios is about building and maintaining smart investment portfolios. At its heart are the three key questions every investor needs to answer: 1. What to invest in. 2. How much to invest. 3. When to make changes to a portfolio. Author Robert Carver addresses these three areas by providing a single integrated approach to portfolio management. He shows how to follow a step-by-step process to build a multi-asset investment portfolio, and how to rebalance the portfolio efficiently. He covers both investment in collective funds like ETFs, and also direct investment in individual equities. Important features include: -- Why forecasting future returns is so difficult, and how to account for uncertainty when making investment decisions. -- How to accurately calculate the true costs of an investment, including costs that you may not even be aware of. -- How to select the best ETF for each asset class. -- How to compare the costs and other features of different ETFs. -- How to select individual shares. -- Calculating the number of shares needed for adequate diversification. -- How to use systematic forecasting algorithms to adjust portfolio allocations. -- How to cut trading costs through smart rebalancing strategies and execution tactics. Robert Carver also explains how to blend assets with different levels of risk, and how to construct portfolios that suit the level of risk that the investor can cope with. Smart Portfolios is detailed, comprehensive, and full of practical methods, rules of thumb and techniques, all fully explained with examples. It is intended for professional investors worldwide, including financial advisors, private bankers, wealth managers and institutional funds; as well as experienced private investors.

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An analysis of the investment approach of the world''s top investors, showing how to achieve market-beating returnsIt is possible to beat the market. Taking this as a starting point, Excess Returns sets out to explore how exactly the most famous investors in the world have done it, year after year, sometimes by huge margins.Excess Returns is not a superficial survey of what investors have said about what they do. Rather, Frederik Vanhaverbeke applies a forensic analysis to hundreds of books, articles, letters and speeches made by dozens of top investors over the last century and synthesises his findings into a definitive blueprint of how exactly these investment legends have gone about their work.Among the legends whose work has been studied are Warren Buffett, Benjamin Graham, Anthony Bolton, Peter Lynch, Charles Munger, Joel Greenblatt, Seth Klarman, David Einhorn, Daniel Loeb, Lou Simpson, Prem Watsa and many more.Among the revealing insights, you

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Tells one of the most unusual success stories in the history of the stock market.

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This is not just another book with yet another trading system. This is a complete guide to developing your own systems to help you make and execute trading and investing decisions. It is intended for everyone who wishes to systematise their financial decision making, either completely or to some degree. Author Robert Carver draws on financial theory, his experience managing systematic hedge fund strategies and his own in-depth research to explain why systematic trading makes sense and demonstrates how it can be done safely and profitably. Every aspect, from creating trading rules to position sizing, is thoroughly explained. The framework described here can be used with all assets, including equities, bonds, forex and commodities. There is no magic formula that will guarantee success, but cutting out simple mistakes will improve your performance. You'll learn how to avoid common pitfalls such as over-complicating your strategy, being too optimistic about likely returns, taking excessive risks and trading too frequently. Important features include: - The theory behind systematic trading: why and when it works, and when it doesn't.- Simple and effective ways to design effective strategies. - A complete position management framework which can be adapted for your needs. - How fully systematic traders can create or adapt trading rules to forecast prices. - Making discretionary trading decisions within a systematic framework for position management. - Why traditional long only investors should use systems to ensure proper diversification, and avoid costly and unnecessary portfolio churn. - Adapting strategies depending on the cost of trading and how much capital is being used. - Practical examples from UK, US and international markets showing how the framework can be used. Systematic Trading is detailed, comprehensive and full of practical advice. It provides a unique new approach to system development and a must for anyone considering using systems to make some, or all, of their investment decisions.

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How do we know where we are in the current stock market cycle? Are we in the midst of a new long term bull market or a market rally within an ongoing bear market?The answers to the above questions are critical to forming an appropriate investment strategy to plan for the future. The difference between anticipating the end of a secular (or cyclical) bull market and reacting to the significant crash that follows will have a big impact on anyone''s investment returns and retirement plans.This book is concerned with cycles. A cycle is a sequence of events that repeat over time. The outcome won''t necessarily be the same each time, but the underlying characteristics are the same. A good example is the seasonal cycle. Each year we have spring, summer, autumn and winter, and after winter we have spring again. But the weather can, and does, vary a great deal from one year to another. And so it is with the stock market.Kerry Balenthiran has studied stock market data g

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The long-awaited follow-up to The Way To Trade, John Piper''s seminal work on trading psychologyThe Way To Trade is back... and it''s better.In The Way To Trade Better John Piper returns to the fundamental topic of transforming yourself into a winning trader. Building on more than 30 years of frontline trading experience and over two decades of teaching and coaching, he explains how winning at trading involves turning your trading into a business.To do this, you follow a five-step process:1. Focus2. Style3. Right Trading4. Right Size5. Successful HabitsJohn Piper guides you through these five stages and delves into essential areas that every winning trader needs to master, including Trading Systems, Money Management, Psychology, Good and Bad Habits, and Trading Professionally. Putting all this together, The Way To Trade Better is a complete guide to improving your trading and achieving better

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This is the most extraordinary time for people with a desire to make thingsSpark for the Fire is for everyone who wants to excel. For the people who are passionate about what they want to do. For those whose imaginations demand to be put to use, in any discipline. it is for the youthful: in age, experience or attitude - and those who want to be - whether to kick-start a career or reignite an established one.Now more than ever, youthful thinking can help spark the fire of creativity. This must-read book reveals how.Featuring among others- Nick Park- Michael Wolff- Lord David Puttnam- Jean Oelwang- Rory Sutherland- Ajaz Ahmed- Jamie Oliver

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Which clients win and lose? What are their characteristics?; Which markets are the easiest to make money on?; Which markets should retail investors avoid? Do investors make more money in volatile markets or quiet markets?; and, Which is more profitable: to go long or to go short? This book shows you how to beat the market.

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Offers a detailed description of how to start a small business from scratch, with relatively little money, and how that business can give you a comfortable standard of living with little or no risk in the long term. This title helps you discover the simple secrets of effective business planning.

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The simplest way to make money in the stock market is to buy shares when they are cheap and make profits when their prices increase. This technique is known as value investing and is the creed of the world's most successful investor, Warren Buffett. But how do you know when a share price is cheap? This book explains in simple terms how you can develop your own UK share and FTSE100 valuation spreadsheets to calculate share and market valuations. Comparing the valuations to current market prices reveals when shares are underpriced and produces calibrated buy and sell signals. The FTSE100 system, for example, indicates the periods when you should be invested in the FTSE100 and the periods when you should not be. Since 1984 the in-periods have produced 94 times more capital growth than the out-periods. The new valuation system is the heart of this complete practical guide for managing your own investments. It shows how you should be able to double the value of your long-term investments purely through avoiding high commercial fund management fees.Using the new valuation system should help you do a lot better than this and, for example, secure a pension up to eight times larger than that provided by commercial managers. As well as providing comprehensive information about the practical and profitable ways in which you can use the new valuation system, this book is a complete toolkit for creating personal wealth through UK equity investment. It includes risk controls, tax breaks, free information sources and recommendations on the best service providers. In short this book is your first step along the road to financial security.

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This book will not make you a million in three months and it doesn't make any wildly optimistic claims about saving the world, changing the way we think about business or improving your chances of pulling. What it does do is give an honest, detailed, straightforward description of how to start a small business from scratch, with relatively little money, and how that business can give you a decent income with little or no risk in the long term. Robin Bennett guides you through the key steps involved in setting up and running a business. He shows that it's possible for anyone to become their own boss, and that it can be done without ending up in debt to the bank or completely stressed out. Delivered in a lighthearted and down-to-earth way, the advice contained in these pages is based on what Robin has found to work over the last 20 years in business. It shows how you can do it too - how you can use this knowledge to start up, and most importantly, start up smart.

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Back Office and Operational Risk is a core text for ACI, The Financial Markets Association.This fully revised and updated third edition of the groundbreaking book Back Office and Beyond, now retitled Back Office and Operational Risk, is an essential read for anyone working in a financial organisation: whether front, middle or back office; trainee, staff or manager.With practical guidance and advice throughout, including key excerpts from international financial authorities, this book details all you need to know to ensure your organisation avoids the various pitfalls of operational risk. It provides rigorous instruction and information including:- Basic responsibilities and systems at all levels.- Specific demands of numerous deal types and products, from capture to clearing.- Reconciliations and investigations.- Risk management, identification and control.In the aftermath of the 2008-2009 financial crisis, there has never been a more impo

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From the author of the best seller 'The Financial Spread Betting Handbook' comes a book about constructing winning spread betting strategies. Seven strategies are presented covering all types of market; up, down and sideways. Key ingredients for each strategy include overall market direction, entry and exit techniques and bet size determination. The strategies are used on a wide range of instruments including stocks, commodities and currencies, and trade duration tends to be in weeks. Examples of each strategy are fully illustrated with charts and commentary - there are over 150 charts in this book, taking the reader step by step through strategy implementation.

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Plain speaking has never held Peter Hargreaves back. In this candid and outspoken book, the multi-millionaire founder of investment company Hargreaves Lansdown tells the story behind its extraordinary success and gives his forthright views on what it takes to be successful as an entrepreneur and as an investor. Starting from his spare bedroom with a single phone and borrowed office equipment, Peter and his business partner Stephen Lansdown set out to build a business that would consciously be different from that of all their competitors. They have held fast to their unconventional ways ever since, regularly turning the company's strategy and business model upside down in their relentless effort to give their clients the best information, the best prices and the best service. Widely recognised as the number one firm in their business, Hargreaves Lansdown was floated on the London stock market in 2007, valued at GBP800 million. In For A Penny is a must read for anyone who wants to understand how the investment business works, what's wrong with conventional management wisdom and what's right about the true meaning of entrepreneurship.

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Binary options are the latest products to hit financial markets. From 5 minute FTSE100 bets offered by online bookmakers, longer duration FTSE100 bets traded on online betting exchanges plus binary bets offered by spreadbetting companies, all are offering the same instrument as the CBOT's binary option on the Fed Funds rate. Hitherto, the largest single marketplace for binary options has been Lloyd's of London where they are known as insurance contracts, while the sports enthusiast is unwittingly buying a binary option every time he takes a price from a sportsbook or bookmaker on this horse or that soccer team. This book takes the same fixed odds bet and illustrates how they operate in the financial marketplace."Binary Options" initially outlines regular bets and explains the rationale defining some basic winning and losing bets. A deeper analysis follows in which the author examines how the value of a bet is dependant on the passing of time, the volatility of the underlying instrument plus the price of the underlying instrument.More advanced bets are introduced with the reader then being shown when and how to profitably use binaries in various market conditions, followed by techniques in how to hedge the position entered into. The same format for regular bets is then followed when discussing one-touch bets. In this first in-depth analysis of binary options, Hamish Raw has ambitiously catered for both the end-user and the market-maker. Diagrams are to be found in abundance throughout this book in order to graphically illustrate the author's points.

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For eight years between 1998 and 2006, Luke Johnson wrote a regular column as "The Maverick" in "The Sunday Telegraph". His short, pithy essays tackled subjects ranging from rich lists to bankrupt companies, from high finance to investment techniques, from philanthropy to trophy wives, bringing a practitioner's eye to the commercial world and the people in it. "The Maverick" quickly developed a cult following among readers who wanted to understand the blunt truth about investment, entrepreneurs, business history, and corporate life. This book brings together 84 of the best articles, with updates, in a single volume. What makes them unique is that Luke Johnson is not just a first-class writer, he is also one of Britain's most successful entrepreneurs. He made his name with PizzaExpress, has run and owned businesses in many different sectors, and now takes stakes in fast-growing businesses through his company, Risk Capital Partners. He is also Chairman of Channel 4. The diversity of his experience enables him to write with insight and perspective about the very serious matter of making and losing money.If you are in business, you will find "The Maverick" entertaining, informative and inspiring. If you are not in business, you will discover what makes business people tick, the hurdles they have to overcome to succeed, and the substantial benefits they bring to society.

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Many investors ignore company accounts because they think they are too difficult. But, as the great investor Peter Lynch said "Investing without looking at the numbers is like playing bridge without looking at the cards". The mission of this book is to explain to ordinary investors, with no accounting knowledge, what to look for in a set of accounts and how to interpret what you find - so that you have an accurate 'health check' on a company in ten simple steps. Robert Leach considers the entire subject from an investor's point of view, by asking - and then answering - the questions which matter most. He also looks at the techniques which companies sometimes use to flatter their accounts, and shows how accounts for companies in different sectors have to be looked at differently. The 10 Crunch questions: 1. Is the company growing? 2. Are costs under control? 3. Does it make a profit? 4. How much cash does it have? 5. Is its market value supported by assets? 6. Is it using debt wisely? 7. Are there any hidden nasties? 8. Is management good enough? 9. Can I expect a reliable income? 10. Are there any threats to my interests?

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Robbie Burns, aka the Naked Trader, is an ordinary bloke who quit his day job and traded his way to over £3 million buying and selling shares – tax-free. No gimmicks. No multiple screens. No lucky bubbles. Just common-sense trading techniques, tea, toast and afternoon naps. And a lot of time to do whatever else he wanted.While whole industries rely on making trading sound more difficult than it really is, the secret no one wants you to know is that anyone can use it to never have to work another ordinary job in their life. This book shows you how to do so without taking silly risks, swallowing a financial dictionary or staring at a screen all day.In the Naked Trader, Robbie Burns reveals:How stock market trading actually worksWhere to find quality companies (and what makes them decent)What a winning trade plan looks likeThe best times to buy and sell sharesProven methods for controlling risk (including the subtle art of stop

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New technologies are an investment minefield. Putting money behind them means taking a risk on unproven ventures, often from inexperienced (and potentially unscrupulous) developers.While some will lead the investor to fantastic gains, many others turn out to be mere bubbles - a flimsy veneer of excitement and hype with little profitable at the core.But ignoring these technologies can be even worse, as this can mean failing to capitalise on the next great step in innovation. From cryptocurrencies, blockchain, the metaverse, Web3, and NFTs, to self-driving vehicles, delivery drones, solid state batteries, eVTOLs, and more, technology bubbles have been inflating and popping for many years. Each time a bubble pops, tens if not hundreds of billions of investment dollars disappear with them.Unicorns, Hype, and Bubbles arms the reader with the tools required to differentiate between bubbles and genuine, sustainable technological revolutionaries.Under

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Despite an expansive array of financial planning tools, advice, and gurus, putting real financial planning into practice is deeply personal-and incredibly difficult. More Than Money: Real-Life Stories of Financial Planning is a collection of surprising and inspiring true stories that reveal how real clients applied financial planning to derive tangible results that changed their lives. These stories by award-winning financial advisors feature people from all walks of life-young and old, those in debt and those with great wealth-and a wide variety of situations, from designing a desired lifestyle to dealing with catastrophe. They show how well-thought-out, personalized, and high-touch financial planning can truly impact lives for the better. These leaders in a growing industry remind us that financial planning is more than dollars and cents-it is about resourcing dreams and improving lives in the near-term and beyond. Financial planning is More Than Money. Contributions from: Elliott Appel, Michael H. Baker, Vincent R. Barbera, Jordan Benold, Todd Bessey, Todd A. Bryant, Marguerita Cheng, Kevin D. Christensen, Christopher Clepp, Cathy Curtis, Shanna Due, Jessica L. Fahrenholz, Brett K. Fellows, Matt Fizell, Steven Fox, Melissa Joy, Michael Kelly, David Kuzma, Douglas M. Lynch, Kevin Mahoney, Andrew Martz, Stephanie W. McCullough, Dana J. Menard, Amar Pandit, Matthew G. Ricks, Jeffrey J. Smith, Nicola Tomlin, Simon A. Tryzna.

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Every investor needs an edge. Professional investors on Wall Street have the best education, the deepest knowledge of company accounts, the latest technology, and teams of analysts at their disposal to help them identify the best stock investments. That is their edge. As a part-time, individual investor, you cannot compete on their turf. What can you do? This is where The World's Simplest Stock Picking Strategy comes in. As you go about your life, there are companies you interact with regularly as a consumer. Some companies will stand out to you as having remarkable products or services, which you use time and again, and which you imagine yourself using long into the future. You may not have realised it, but you have an excellent knowledge of those companies. This is your edge. This is where you should invest. In The World's Simplest Stock Picking Strategy, Wall Street equity adviser Edward Ryan describes the investment strategy he has used for his own personal investments for the last ten years and shows you, step by step, with full practical guidance, how to put it into practice yourself. You do not need to know how to read company accounts, you do not need an MBA, and you do not need to spend hours each weekend reading the business pages. The strategy is simple and accessible to anyone who is a regular consumer of products and services in their daily life. What's more, The World's Simplest Stock Picking Strategy also has built-in steps to help the investor construct a balanced portfolio, invest during market pullbacks when other investors are fearful, avoid overtrading, and deal with the sticky problem of when to sell an investment. These are all things that professional investors struggle with, but they are taken care of by The World's Simplest Stock Picking Strategy. If you are ready to take a strategic approach to investing in stocks and start out on the road to building long-term wealth, The World's Simplest Stock Picking Strategy is your essential guide.

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Investing as a business angel offers fun and financial reward but the real world is much tougher than portrayed in the reality TV show Dragons Den. Anything can go wrong with a young company, from an unreliable product to a lack of customers, unexpected competition to management failure and, most commonly, simply running out of money. But small companies are a vital part of the economy, and the tax breaks for investing are a great incentive. And supportive investors are vital. Now is a better time than ever to invest in small companies hoping to make it big. There’s a tsunami of investable businesses disrupting old industries with new technology and new methods. The rewards can be huge if you are patient, sensible and smart. And there’s the satisfaction of helping to bring a new and valuable thing into the world. Whether you’re a newbie or an old hand, Business Angel Investing is your comprehensive guide on how to invest, what to invest in, how to manage your investments and how to make money. Richard Hargreaves has invested in young companies for almost 50 years. Let him show you how being a business angel can be fascinating, fun and profitable.

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Sustainable investing is booming. The investment industry is fast approaching a point where one-third of global assets under management are invested with a sustainable objective. But do sustainable investment products do what investors expect them to do? How can an investor tell if their investments are having the social impact they want? Does that impact come at a financial cost? And how can investors weave their way through the web of confusing acronyms, conflicting agency ratings, and the mass of fund offerings, confident that they can recognize and avoid corporate greenwashing? Larry Swedroe and Sam Adams cut through the fog and bring clarity on all of this and more-providing investors with a firm plan for truly sustainable investing. The authors first define sustainable investing, illuminating the differences between ESG, SRI and impact investing, and reveal who is currently investing sustainably and why. They then move on to a comprehensive review of the academic research. What does the data really say about risk and return in sustainable investing? What performance can you genuinely expect from sustainable investments? And how are today's sustainable investors using their influence to drive positive changes for society and the environment? Finally, this book arms you with a practical guide to investing sustainably, including how to effectively choose your asset allocation strategy, and select the managers and funds through which your money can create the change you want to see in the world. Your Essential Guide to Sustainable Investing is the definitive go-to resource that investors have been waiting for.

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"The wise man knows he doesn't know. The fool doesn't know he doesn't know." Lao Tzu "In the West they only respect experts. But the expert mind is the closed mind." Shunryu Suzuki What's the most important step in fixing a puncture? It isn't jacking up the car, or taking the wheel off, or finding the puncture. There's something more fundamental than any of those. Something without which you can't even begin to fix a puncture. The most important step is finding out you've got a puncture. Without that you can't do anything. Instead of saying, "It's just a bit bumpy, must be the road," and carrying on, you must acknowledge that something has changed and you don't know what that is. If you don't admit you don't know what's happening, you can never find out. If you don't find out, you can never change it. The most important step, always, is admitting you don't know. That's the power of ignorance. In this latest collection of real-life stories, Dave Trott provides lessons about problem solving and creative thinking that can be applied in advertising, business, and the wider world. With his trademark wit, wisdom and critical eye, he shows how great problem solvers and creative thinkers are those who are not afraid to say "I don't know."

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Are you young and feeling left behind financially? It doesn’t have to be this way. The UK’s leading millennial money expert, Iona Bain, is on a mission to help young people own their futures, once and for all. Low wages, high house prices, zero reward for saving and the catastrophic fallout from Covid-19... young people have had a rough ride. But we have a choice. We can sleepwalk into a poorer future – or we can transform our prospects by embracing the power of investing. Iona is here to demystify savings, pensions and investing for a new generation. Whether it's robo-advisers or auto-enrolment, green investing or forex on Instagram, Iona will break down what it all means so YOU can take charge of your long-term finances. In this fun, wise and incredibly helpful book, Iona explains why investing matters. She also shows you how to get your basic finances right, save for your first home and make your pension socially responsible. You'll find out all about the rewards and risks of online investing, from sexy stockpicking apps to digital wealth managers, and learn how to manage your long-term finances so you can avoid major mistakes and achieve your goals. Investing often gets a bad rep thanks to the Wolf of Wall Street, social media scams and high-rolling money men. In fact, investing has never been more accessible, more interesting – and more important. It’s the single biggest thing that we can do to change our lives, and society, for the better. So what are you waiting for? Let’s start owning it!

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The influence of International Financial Reporting Standards (IFRS) on accounting across the world is stronger than ever. Most importantly, this stems from the mandatory adoption of IFRSs in many parts of the world, including Europe, Canada, Australia, Brazil and, with some relatively small exceptions, China. Additionally, foreign registrants in the US are also permitted to use IFRS by the SEC. The impact of IFRSs also extends to accounting developments as the IASB and the FASB work closely together to formulate new standards such as those recently issued on leasing and revenue recognition. It is clear that investors, analysts and valuers need to understand financial statements produced under IFRS to feed in to their valuations and broader investment decisions. Written by practitioners for practitioners, the book addresses valuation from the viewpoint of the analyst, the investor and the corporate acquirer. It starts with valuation theory: what is to be discounted and at what discount rate? It explains the connection between standard methodologies based on free cash flow and on return on capital. And it emphasizes that, whichever method is used, accurate interpretation of accounting information is critical to the production of sensible valuations. The authors argue that forecasts of cash flows imply views on profits and balance sheets, and that non-cash items contain useful information about future cash flows - so profits matter. The book addresses the implications for analysis, modelling and valuation of key aspects of IFRS, all updated for recent developments, including: - Pensions - Stock options - Derivatives - Provisions - Leases - Revenue recognition - Foreign currency The text also sets out the key differences between IFRS and US GAAP treatments of these issues, in addition to their implications for analysis. A detailed case study is used to provide a step-by-step valuation of an industrial company using both free cash flow and economic profit methodologies. The authors then address a range of common valuation problems, including cyclical or immature companies, as well as the specialist accounting and modelling knowledge required for regulated utilities, resource extraction companies, banks, insurance companies, real estate companies and technology companies. Accounting for mergers and disposals is first explained and then illustrated with a detailed potential acquisition.

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The focus of this book is how to adapt existing codes to the current market conditions, how to build a portfolio, and how to know when the moment has come to stop one system and use another one. Every day, there are traders who make a fortune. It may seem that it seldom happens, but it does - as William Eckhardt, Ed Seykota, Jim Simons, and many others remind us. You can join them by using systems to manage your trading. This book explains exactly how you can build a winning trading system. It is an insight into what a trader should know and do in order to achieve success in the markets, and it will show you why you don't need to be a rocket scientist to build a winning trading system. There are three main parts to Trading Systems. Part One is a short, practical guide to trading systems development and evaluation. It condenses the authors' years of experience into a number of practical tips. It also forms the theoretical basis for Part Two, in which readers will find a step-by-step development process for building a trading system, covering everything from writing initial code to walk-forward analysis and money management. Two examples are provided, including a new beginning of the month trading system that works on over 20 different stock indices worldwide - from the US, to Europe, to Asian indices. Part Three shows you how to build portfolios in two different ways. The first method is to combine a number of different trading systems, for a number of different markets, into an effective portfolio of systems. The second method is a new approach to system development: it provides step-by-step instructions to trade a portfolio of hundreds of stocks using a Bollinger Band trading strategy. A trader can never really say he was successful, but only that he survived to trade another day; the "black swan" is always just around the corner. Trading Systems will help you find your way through the uncharted waters of systematic trading and show you what it takes to be among those that survive.

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From the New York Times bestselling author of the book named the best investment book of 2017 comes The Behavioral Investor, an applied look at how psychology ought to inform the art and science of investment management. In The Behavioral Investor, psychologist and asset manager Dr. Daniel Crosby examines the sociological, neurological and psychological factors that influence our investment decisions and sets forth practical solutions for improving both returns and behavior. Readers will be treated to the most comprehensive examination of investor behavior to date and will leave with concrete solutions for refining decision-making processes, increasing self-awareness and constraining the fatal flaws to which most investors are prone. The Behavioral Investor takes a sweeping tour of human nature before arriving at the specifics of portfolio construction, rooted in the belief that it is only as we come to a deep understanding of “why” that we are left with any clue as to “how” we ought to invest. The book is comprised of three parts, which are as follows: - Part One – An explication of the sociological, neurological and physiological impediments to sound investment decision-making. Readers will leave with an improved understanding of how externalities impact choices in nearly imperceptible ways and begin to understand the impact of these pressures on investment selection. - Part Two – Coverage of the four primary psychological tendencies that impact investment behavior. Although human behavior is undoubtedly complex, in an investment context our choices are largely driven by one of the four factors discussed herein. Readers will emerge with an improved understanding of their own behavior, increased humility and a lens through which to vet decisions of all types. - Part Three – Illuminates the “so what” of Parts One and Two and provides a framework for managing wealth in a manner consistent with the realities of our contextual and behavioral shortcomings. Readers will leave with a deeper understanding of the psychological underpinnings of popular investment approaches such as value and momentum and appreciate why all types of successful investing have psychology at their core. Wealth, truly considered, has at least as much to do with psychological as financial wellbeing. The Behavioral Investor aims to enrich readers in the most holistic sense of the word, leaving them with tools for compounding both wealth and knowledge.

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This fully revised, updated and expanded edition of the industry standard text takes the reader through the complete life cycle of a syndicated loan. Beginning with the opening phase of mandating a lead bank, Syndicated Lending delves through negotiation, documentation, syndication and closing transactions to conclude with the secondary market. This seventh edition includes new supplements dealing with: · regional syndicated loan markets · growing regulatory framework · the influence of Brexit on the market · the challenges thrown up by the transition from LIBOR-based pricing to the proposed risk-free rate environment. The practice of syndicated lending is similarly explored in its historical context, by following the ups and downs of this most flexible, and enduring, financial market. Plus, while the market moves toward digitisation, summaries are provided for the leading technology solutions being developed. With practical explanations, reflecting practices developed by the LMA, from borrowers, bankers and investors, this book offers insight from industry professionals with decades of experience as well as detailed examples of pricing methodology. There is also an up-to-date discussion of documentary issues, including annotated term sheets and loan documents, contributed by Clifford Chance. This is the essential guide to the commercial and documentary aspects of syndicated lending for lenders, borrowers, investors, lawyers, regulators and service providers.

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Very few books published so far have touched upon commodity finance and fewer still have provided a systematic explanation and analysis of the subject. It is however a subject that is relevant throughout almost every corner of the world From food to gold, commodities are ubiquitious. In this book, Dr. W. Huang, a practitioner and a trainer, covers commodities, commodity markets, commodity trade and the finance of commodity trade. As such, practitioners such as bankers and traders in commodity finance, and those institutions operating in this field, or planning to be active in this field, will all benefit from this book. This revised and updated second edition is a hands-on summary of commodity finance, with a special chapter dedicated to real-life case studies of commodity finance. Topics covered include: – High-level overview of commodity trade and finance. – The three major sectors of commodity finance: soft commodities, hard commodities and energy – Commodity finance and emerging markets, as most commodity export countries are emerging markets countries. – The special mechanisms and products of commodity finance, from plain vanilla products to more complicated structures. The concept of Supply Chain Finance is also covered in detail. – Bank and country risk. – Risk management principles, with practical case studies. – The organization of a typical commodity finance bank. The key benefits of the book are: For bankers – how to do business and what risks should be watched for? For traders, brokers and institutional investors – how commodity finance is done and what bank instruments can be used. For students – how is commodity finance handled and developed by banks? Each chapter can be read independently. The content has been reviewed by both experts and newcomers, incorporating their comments on style and content, to ensure it is as useful and clear as possible.

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UPDATED & EXTENDED 2ND EDITION This practical book provides you with everything you need to be able to day trade grain futures effectively. It opens with chapters explaining the author's preference for the grain futures markets, and his reasons for preferring to day trade, before going on to explain the fundamentals of trading and the more specific knowledge required for his chosen approach. In a concise, punchy style the reader is introduced to some timeless trading concepts, and shown how these ideas can be moulded into a trading system to attack the exhilarating grain markets. No sophisticated indicators or complex mathematics are found here. Instead, the author builds a system based on tried and true trading principles, combined with sound money management strategies. The particular challenge for a day trader during the volatile market open is to quickly identify support and resistance zones, and form a view on trend direction, based on limited information. The author describes how he does this, with detailed illustrations and real life examples. He then goes on to explain exactly how, based on the initial market movement, he determines stop loss and target levels. A key feature of the book is the chapter tracing the progress of a real life trading session. It shows the author's methods being applied in practice, with numerous screen shots giving the reader an understanding of what the trading process feels like in practice - effectively giving you a fly on the wall view of the author in action. Another highly illustrated chapter shows a complete month of trading charts with commentary on trades taken, giving the reader an appreciation of the longer term trading process. A process described by the author as "constant repetition of a simple plan, concentrating on implementation excellence". Other chapters outline the author's views on the need for practice, and discuss the practical points a home-based trader should attend to in their computer and internet set up. The book's focus is to highlight the exciting opportunities of grain futures and provide the vital detailed and hands-on information that will make it invaluable to all futures, equity, options or CFD traders.

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Starting from scratch, it took the world's greatest investor, Warren Buffett, nearly five decades to make his first $100m. This book explains the reasoning behind each investing milestone on that journey, tracks the deals he made and shows how they added to his wealth.Without much of an idea about investing in shares at the beginning, Buffett had to develop his investment philosophy, and learn through success and failure how to select companies worth backing. It was not all plain sailing, with many mistakes along the way; and there were long periods of frustration with the market. The fact that Buffett made errors is quite reassuring for other investors. The key is to learn from them, and to accept with evenness of temper the many bumps in the road.

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The lifeline of a strong brand can mean the difference between success and failure, or survival and extinction, in this turbulent environment. But what constitutes a strong brand? How should it be developed and managed? How do you activate and manage a winning brand strategy? Advanced Brand Management is the indispensable guide that provides all the answers. Paul Temporal addresses every issue related to brand management in the 21st century, providing the background theory and illustrating this with thoughtful case studies from across the business world. In this third edition, all chapters have been updated, and a completely new chapter is included on the growth of the digital world and the use of the Internet. Throughout, there is an increased emphasis on brand strategy and updates to case studies, with entirely new cases being added. If you want to make your own branding a success, you can't afford to be without Advanced Brand Management.

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A practical guide to existing market practice for legal documentation in Europe and the USA

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Investing can seem simple, but there are an infinite number of ways to get to your goals and an infinite number of ways to fail.To sharpen your investment skills, this book guides you through the key aspects of the fund management profession, working from a macro-industry overview to the micro details of security-valuation techniques, combining the benefits of academic experience with decades of industry experience.This is something also found in the complementary online Market-Class investment simulator, where you can manage a $100m fund in a dynamic market and your decisions and those of fellow fund managers ''make the market''.A smart investor doesn''t rely on luck or guts, but on learning as much as possible to make the best decisions. Portfolio Management and Market-Class, with their uniquely rich insight into the real-life workflow of portfolio management, are a vital component in any investor''s education.

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Practical and powerful improvements for value investorsBuying undervalued shares and selling when the price is many times greater has a natural appeal - and research shows it works. But not all value investors are successful. As Andrew Hunt shows in this must-read new book, many are guilty of common errors in their planning and execution and these critically undermine their success.Better Value Investing provides a straightforward framework to help all value investors improve, showing them what to focus on and what to cut out in order to be successful.Supported by the latest empirical research, 15 years of real investing experience, studies of what the top investors have said and done, and wide reading, Andrew Hunt reveals:- how financial strength is at the heart of value investing- why to invest like an owner- the importance of contrarianism- why you should buy only the very best bargains- the essentials of constructing and man

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