A sensational and compelling insider's view that lifts the lid on the fast-paced and dazzling world of derivatives, now in a smaller, paperback format.

Traders Guns and Money is a wickedly comic expose of the culture, games and pure deceptions played out every day in trading rooms around the world. And played out with other people's money.

This sensational insider's view of the business of trading and marketing derivatives, explains the frighteningly central role that derivatives and financial products played in the global financial crisis.

This worldwide bestseller reveals the truth about derivatives: those financial tools memorably described by Warren Buffett as 'financial weapons of mass destruction'. Traders, Guns and Money will introduce you to the players and the practices and reveals how the real money is made and lost.

From the award-winning author of "Diamond" A blazing exploration of the human love affair with gold that "combines the engaging style of a travel narrative with sharp-eyed journalistic expose" ("Publishers Weekly," starred review).
In the wake of the 2008 financial crisis, the price of gold skyrocketed--in three years more than doubling from $800 an ounce to $1900. This massive spike drove an unprecedented global gold-mining and exploration boom, much bigger than the gold rush of the 1800s. In "Gold," acclaimed author Matthew Hart takes you on an unforgettable journey around the world and through history to tell the extraordinary story of how gold became the world's most precious commodity.
Beginning with a page-turning report from the crime-ridden inferno of the world's deepest mine, Hart traveled around the world to the sites of the hottest action in gold today, from the biggest new mine in China, to the highly secretive London gold exchange, and the lair of the world's most powerful gold trader in Geneva, Switzerland. He profiles the leaders of the gold market today, the nature of the current boom, and the likely prospects for the future. From the earliest civilizations, when gold was an icon of sacred and kingly power, Hart tracks its evolution, through conquest, murder, and international mayhem, into the speculative casino-chip that the metal has become. He ends by telling the story of the massive flows of gold that have occurred in the wake of the financial crisis and what the world's leading experts are saying about the profound changes underway in the gold market and the prospects for the future.
"Compelling, stylish, and impressively researched" ("The Boston Globe"), "Gold" is a wonderful historical odyssey with important implications for today's global economy.

This book offers practical knowledge, analysis, trading techniques and methodologies required for the management of key international commodities. The author explores each aspect of commodity trading in detail and helps the reader to implement effective techniques to build a strong portfolio. Early chapters set the current scene of commodity trading markets before going on to discuss the fundamental instruments and tools used in navigating commodity markets. The author provides detailed, empirical case studies of traded natural resources in order to explicate the financial instruments that enable professionals both to invest and to trade them successfully. Later chapters investigate the psychology and behavioural influences behind optimal market trading, in which the author encourages the reader to understand and combat the obstacles that prevent them from reaching their full trading potential.

Commodity Option Pricing: A Practitioner s Guide covers commodity option pricing for quantitative analysts, traders or structurers in banks, hedge funds and commodity trading companies. Based on the author s industry experience with commodity derivatives, this book provides a thorough and mathematical introduction to the various market conventions and models used in commodity option pricing. It introduces the various derivative products typically traded for commodities and describes how these models can be calibrated and used for pricing and risk management. The book has been developed with input from traders and examples using real world data, together with relevant up to date academic research. The book includes practical descriptions of market conventions and quote codes used in commodity markets alongside typical products seen in broker quotes and used in calibration. Also discussed are commodity models and their mathematical derivation and volatility surface modelling for traded commodity derivatives. Gold, silver and other precious metals are addressed, including gold forward and gold lease rates, as well as copper, aluminium and other base metals, crude oil and natural gas, refined energy and electricity. There are also sections on the products encountered in commodities such as crack spread and spark spread options and alternative commodities such as carbon emissions, weather derivatives, bandwidth and telecommunications trading, plastics and freight. Commodity Option Pricing is ideal for anyone working in commodities or aiming to make the transition into the area, as well as academics needing to familiarize themselves with the industry conventions of the commodity markets.

Step-by-step guidelines for making commodities a valuable component in any portfolio

As stock market investing becomes increasingly hard to squeeze profits from, savvy investors are finding commodities to be the perfect vehicle for maintaining portfolio performance. Commodities for Every Portfolio shows commodities newcomers how to ease into this straightforward market, which strategies are best (and which to steer clear of ) and much, much more. Investors and traders get easy-to-follow techniques, strategies, and methods, with individual chapters showing how to invest in commodities through stocks, mutual funds, ETFs, and futures. High-performing companies and index-based funds are listed by name, with specific information on how and why they succeed; hard-to-find informational resources are also provided.

Praise for "Commodity Fundamentals"

"Commodity Fundamentals is THE book for investors looking to enter the commodity markets. This informative guide is a welcome addition on the subject and is a must-read for commodity investors."
--Jim Atkinson, President, Guinness Atkinson Funds

"Ronald Spurga's Commodity Fundamentals is an illuminating and very useful guide for the subject. A welcome addition to any business library."
--Robert F. Himmelberg, PhD, Dean, Fordham's Graduate School of Business Administration

"A straightforward introduction crafted for the individual on the mechanics of commodity trading. The author efficiently negotiates the often confusing yet very topical commodity trading world for the individual."
--Terence A. Mullervy, Finance Director, Glencore UK Ltd.

"Commodity Fundamentals" provides you with the in-depth insights needed to make commodities trading a profitable, integral component of your overall trading activities. Written by Ronald Spurga, a Vice President of ABN AMRO Bank and longtime veteran of the investment banking wars, this straightforward guide arms you with the information you need to succeed in the highly profitable commodity marketplace--whether you are a trading veteran, a relative newcomer, or anywhere in between.

The United States holds strategic stockpiles of nearly 100 industrial minerals, metals, and other commodities. These stockpiles have influenced the world commodity markets in many ways. This work brings together in one place, documentary and statistical evidence about the size and nature of the U.S. strategic stockpiles, and the ways in which this influence has been evidenced, in markets for the important industrial metals.

The landscape of commodity markets has drastically changed in recent years. Once a market of refineries and mines, it has become the market of investment funds and commodity trading advisors. Given this transformation, are commodity investments still as beneficial as 20 or 30 years ago? This book is an attempt to answer these questions.

Volatility in Korean Capital Markets summarizes the Korean experience of volatile capital flows, analyzes the economic consequences, evaluates the policy measures adopted, and suggests new measures for the future.

Commodities represent today the fastest growing markets worldwide. Historically misunderstood, generally under- studied and under- valued, certainly under- represented in the literature, commodities are suddenly receiving the attention they deserve.

Bringing together some of the best authors in the field, this book focuses on the risk management issues associated with both soft and hard commodities: energy, weather, agriculturals, metals and shipping. Taking the reader through every part of the commodities markets, the authors discuss the intricacies of modelling spot and forward prices, as well as the design of new Futures markets. The book also looks at the use of options and other derivative contract forms for hedging purposes, as well as supply management in commodity markets. It looks at the implications for climate policy and climate research and analyzes the various freight derivatives markets and products used to manage shipping and freight risk in a global commodity world.

It is required reading for energy and mining companies, utilities' practitioners, commodity and cash derivatives traders in investment banks, CTA's and hedge funds

Deterrence of market manipulation is central to the entire regulatory and legal framework governing the operation of American commodity futures markets. However, despite all of the regulatory, scholarly, and legal scrutiny of market manipulation, the subject is widely misunderstood. Federal commodity and securities laws prohibit manipulation, but do not define it. Scholarly research has failed to analyze adequately the causes or effects of manipulation, and the relevant judicial decisions are confused, confusing, and contradictory. The aim of this book is to illuminate the process of market manipulation by presenting a rigorous economic analysis of this phenomenon, including the conditions that facilitate it and its effects on market users and others. The conclusions of this analysis are used to examine critically some legal and regulatory anti-manipulation policies. The Economics, Law and Public Policy of Market Power Manipulation concludes with a set of robust and realistic tests that regulators and jurists can apply to detect and deter manipulation.

""Commodities Rising," part memoir and part investment guide, provides a unique and practical perspective that is based on a rare combination of professional experiences."

-Donald F. Larson, Senior Economist, World Bank

"Jeffrey Christian brings twenty-five years of commodity market experience to his thoughtful and insightful new book. A keen analyst, Christian debunks many commodity market myths. There has been a substantial underinvestment in commodity research of late. His book is a 'must-read' for any investor wishing to avoid the pitfalls present in physical commodity investments."

-Terrence F. Martell, PhD, Saxe Distinguished Professor of Finance, Director, Weissman Center for International Business, Baruch College, CUNY;Public Governor, New York Board of Trade

"If you've read one of the recent 'commodity craze' books, you'll appreciate the more careful, thorough account Christian provides here. His anecdotes and analysis will convince you that this is truly an insider's assessment."

-Peter A. Biebel, Vice President, Director of Futures Research, A.G. Edwards & Sons, Inc.

"In addition to its depth, Christian's book is extremely reader-friendly, presenting commodity issues from various angles. I strongly recommend to anyone interested in commodities that they read this book; and to those still unfamiliar with the subject, I recommend that they take a look. The rewards will be significant, intellectually and possibly financially."

-Takamasa Akiyama, Professor of Development Economics, Nihon University, Mishima, Japan, and Senior Advisor, Foundation for Advanced Studies onInternational Development (FASID), Tokyo, JapanAnalyze the current commodity environment and look out over the next few years to identify potential profit situations in Commodities Rising. You'll learn how commodities can be used to reduce risk and increase returns in a balanced investment portfolio. Author and commodities expert Jeffrey Christian debunks much of the misinformation currently circulating about commodities and provides a reasoned reality-check you can use to evaluate the claims and promises of various publications and brokerages in the commodity field. Specific issues addressed throughout this book include: the variety of commodity investments?exchange traded funds, stocks, futures, and options;commodities in the global economy;commodity trading/investing strategies.Filled with in-depth insights and engaging anecdotes gleaned from the author's 30 years in the commodity markets, this is an invaluable resource for the serious investor or trader.

Written for the general reader who has little financial background, this book analyzes the extended bull market of the 1980s and the subsequent stock market crash on October 19, 1987. To tell their story, the authors use a sample portfolio of stocks, bonds, options, savings, and warrants, tracing actual investments bought and sold from the early 1980s through the October 1987 crash. By following their hypothetical portfolio through the ups and downs of the 1980s market, the reader gains a practical understanding of the workings of the stock market and the pressures that led to its calamitous plunge in October 1987. Anyone seeking a practical and nontechnical yet thorough explanation of the events of October 19th will find "The Crash Put Simply" fascinating reading.

As their story unfolds, the authors explain each type of investment in detail, paying special attention to their advantages and risks. They trace the impact of specific events on the market, using the sample portfolio to illustrate typical investor expectations and reactions during the long bull market. This unique approach enables the reader to understand how events moved the market and how, in the week prior to October 19th, a panic of action and reaction finally brought the market crashing down.

For courses in derivatives, options and futures, financial engineering, financial mathematics, and risk management. An Easily Understandable Introduction to Futures and Options Markets Fundamentals of Futures and Options Markets covers much of the same material as Hull's acclaimed title, Options, Futures, and Other Derivatives. However, this text simplifies the language for a less mathematically sophisticated audience. Omitting calculus completely, the book is suitable for any graduate or undergraduate course in business, economics, and other faculties.

Praise for The Logical Trader
Applying a Method to the Madness

"Fisher’s messianic willingness to share with the public the successful system he has developed is an opportunity to be exploited."
–from the Foreword by Paul Tudor Jones
Chairman and CEO, Tudor Investment Corp.

"Mark takes the same mental approach to trading that professional athletes and coaches use to succeed on the court. He has taken several college and pro athletes and provided them a game plan for life after basketball."
–John Calipari, Head Basketball Coach, Memphis University
Former NBA Head Coach, New Jersey Nets

"I have been actively involved in the markets (foreign exchange, equities, derivatives) since the early 1970s–as a trader on the CBOT floor in the bond and note ‘pits,’ as a foreign exchange dealer at a large multinational bank, as the head of a bank’s futures brokering operation, as a reasonably widely known analyst of the world capital markets writing a daily commentary on these markets, and as a trader on my own. I’ve read a myriad number of ‘how to’ books on trading, most of which have proven to be of little merit, if any. However, from the outset, reading and understanding Mark’s insights into his ACD system in The Logical Trader, I’ve learned methods of trading that I probably understood intuitively but now understand logically and with almost numerical rationality. The reading may be difficult for the beginning trader, but the lessons learned will be immediately beneficial; of that I am certain. I strongly endorse this book for the beginner and professional trader alike."
–Dennis Gartman, Editor/Publisher, The Gartman Letter, LC

In trading, as in life, you need a plan. In The Logical Trader: Applying a Method to the Madness, expert trader Mark Fisher reveals a plan and a method that he has used for over twenty years to successfully trade.

Mark Fisher has taught thousands of people–from traders on the floors of major exchanges to individual investors in front of computer screens–how to trade stocks, commodities, even currencies, using his highly successful and innovative ACD method. Now, in The Logical Trader, Fisher will teach you how to use the ACD method to trade more effectively and profitably than ever before.

In "Trader Vic on Commodities, " Wall Street legend Victor Sperandeo explains in simple terms how these markets operate, removes some of the mystique and uncertainty involved, and offers a proven method for capitalizing on commodity market trends--without taking giant risks. Sperandeo shows that, as commodities are cyclical in nature, your goal should be to capture as much of the major market trends as possible, while balancing that goal with a minimum of risk.

ISO 50001 - A strategic guide to establishing an energy management system provides a practical but strategic overview for leadership teams of what an EnMS (energy management system) is and how implementing one can bring added value to an organisation.