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.

The authors provide a broad overview of economic aspects of commodity taxation, focussing in particular on theory and on policy applications in OECD countries. Some major papers in public economics have discussed whether these taxes should be levied at a uniform rate, or whether different commodities should be taxed differently, for reasons of either equity or efficiency. The authors begin with this question, and then discuss further issues, including the economic incidence of commodity taxes, the properties of the VAT, the taxation of financial services, the international aspects of commodity taxation, and environmental and health policy aspects.

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.

Mention the name Roy Neuberger and several awe-inspiring images come to mind. There's the stock market neophyte who arrived on Wall Street just months before the Panic of 1929—and protected his capital by shorting RCA stock. There's the savvy businessman who founded Neuberger&Berman, a lucrative brokerage firm that today manages about $50 billion. Then, there is the esteemed philanthropist and patron of the arts who has graciously donated most of his private art collection to museums and institutions around the country.

Now, there is the vibrant nonagenarian who, as first-time author, shares his extraordinary life story in So Far, So Good—The First 94 Years. As inspirational as it is compelling, this stirring memoir recounts Neuberger's remarkable journey and enduring reign as one of the most prominent and fascinating figures of finance.

Roy R. Neuberger was born at the turn of the century to a businessman father and a musician mother, both of whom passed on to him qualities and interests that would profoundly influence his life. He spent his earliest years in Bridgeport, Connecticut, then moved with his family to New York City, a place he's called home for more than eight decades. Though he had a happy, comfortable childhood, it was tempered with tragedy when, in 1912, his mother died, and his father passed away just four years later.

After his freshman term at New York University, Neuberger left to begin working at the B. Altman & Company department store. It was there that he learned about business and trading, and was introduced to the world of art. Following three "extremely valuable" years at Altman's, in 1925 Neuberger set out for Paris, where he remained for almost four years. It was an unforgettable time during which he travelled, studied art, and befriended Thornton Wilder, the art historian Meyer Schapiro, and other notable Americans in Paris.

Returning to New York City in 1929, Neuberger landed a job on Wall Street at Halle & Stieglitz — just seven months before the infamous Crash. In a pulsating, you-are-there account, Neuberger recounts the tumultuous events leading up to —and following —the Panic, and reveals how he managed to emerge unscathed at a time when others were doing anything but. He also offers an intriguing behind-the-scenes look at his remarkable career since, with details on the launching of Neuberger&Berman; the creation of Guardian, one of the first no-load mutual funds; his success with closed-end investment trusts; and his extraordinary winning run during the market crash of 1987. Generously sharing a wealth of professional wisdom, Neuberger offers his "ten principles of successful investing," as well as penetrating and provocative ruminations on topics ranging from the economy and the federal budget to Social Security and the future of the market.

Neuberger speaks eloquently about his lifelong appreciation of art. He describes the formation of his valuable and eclectic collection (most of which he's now donated), his firm commitment to supporting the careers of artists, his role as trustee of both The Metropolitan Museum of Art and the Whitney Museum, and his involvement with the creation and sustenance of the Neuberger Museum of Art in Purchase, New York.

At the age of 94, Roy Neuberger is still going strong, trading every day, and enjoying life to the fullest. His dramatic story, told here with humor, insight, and complete candor, is part social history, part investment lesson, part personal reminiscence. So Far, So Good —The First 94 Years is a landmark work not to be missed.

Praise for So Far, so Good—the first 94 years

"The wisdom of Roy Neuberger is a beacon. There is nothing like experience, and here it is . . . in spades! We can all learn from the master." —Dr. William F. Baker, President, Thirteen/WNET, N.Y.

"Roy Neuberger has celebrated life for almost a century. He roared in Paris in the 1920s, assembled one of the great contemporary art collections of the world, and built a great investment firm. He has shared the journey with us through this book, and it is one helluva ride." —Byron Wein, Managing Director, Morgan Stanley & Co.

"What a life! Roy Neuberger's affecting memoir chronicles the passion and generosity that helped him overcome early adversity to fill his charmed, long life with meaning and accomplishment. Readers will benefit from his great advice about making money, and will take pleasure in learning how he used his fortune to acquire and share wonderful works of art." —Agnes Gund, President, Museum of Modern Art

"Roy never fails to amuse and enlighten. Over the years, he's taught me many things I didn't know I didn't know." —Jim Rogers, author of The Investment Biker.

"Roy's memoirs read as if he'd chatted them to you on his regular matinal walks —sprinkled with engaging personal insights, and no end of advice for which the most compelling argument is Roy's own success. A most rewarding read." —Philippe de Montebello, Director, The Metropolitan Museum of Art.

At a time when the world is grappling with rising food and energy prices and climate change, "Living in a Material World" provides an insight into some of the contributing factors behind these challenges. The emergence of new consumers in China, India, Russia and the Middle East has added formidable competition to the natural resources that have been taken for granted in the developed world.

Everything we consume involves the use of metals, fossil fuels or agriculture. Our high tech 'lifestyles' depend on the secure supply of these raw materials which we take from planet earth and use to make our lives more comfortable, more productive or more manageable. The effect of this increasing global demand for commodities has pushed up prices of materials from oil and copper to corn and wheat; forcing consumers to pay more for the many 'necessities' of life, from a loaf of bread to electricity bills.

Since the commodity boom has unfolded, commodities have gone from the back page of the newspaper to the front; with more and more headlines about record food and oil prices, dire climate change warnings, energy security and China's demand for more raw materials.

This era of high oil and food prices is no passing phase: The supply of many key natural resources is stretched to the limit. But what is the real cost?

"Living in a Material World" makes the link between raw materials and the consumer, and shows how they are relevant to everybody, everyday - now more so than at any time since the last oil shock nearly three decades ago. A unique insight into this 'once in a generation' boom, the book shows how the increasing value of commodities is impacting on consumers and investors, inways we are only just beginning to understand.

""It was a great pleasure to read this book which provides an essential background to understanding commodities for anybody interested in understanding them more closely. It is so rare to see all the essential elements brought together in one book.""

Chris Brodie, Krom River Partners LLP

""Kevin Morrison set out to write a book about the daily relevance that raw materials have for the ordinary consumer. He has achieved his objective par excellence. The subject matter has been comprehensively researched and well documented - yet the writer has avoided using complicated technical language. The style of the book is more in tune with a novel and the main topics are treated with a special sense of humour. I would readily recommend this work to anyone interested in how global energy issues have a direct affect on us all.""

Mehdi Varzi, President, Varzi Energy, London

Option Theory takes the reader from first principles to the frontiers of modern finance theory. The book is aimed at busy financial engineers at all levels, providing formulas and techniques that can be readily applied to real life problems; yet the theoretical basis of the subject is explored in detail so that the book will also appeal to students and researchers.

Written in a clear and accessible manner, the author covers the various approaches to option pricing: risk neutral expectations by integration, trees, analytical and numerical solutions of partial differential equations and Monte Carlo methods, demonstrating the close relationship between them.

Structured into four parts, the mathematical tools used in the first three parts of the book are intermediate level "engineer's mathematics": differential and integral calculus, elementary statistical theory and simple partial differential equations. In Part Three, the techniques are systematically applied to all the standard exotic options encountered in the equity, foreign exchange and commodity markets. It is shown that the exotics are not a large random collection of unrelated instruments, but a few families which can be simply analysed using the techniques developed in Parts One and Two.

Part Four provides a course in stochastic calculus that is specifically tailored to finance theory and designed for readers with some previous knowledge of options. It provides an active working knowledge of the subject and includes coverage of:

• Martingales.
  
• Stochastic differential equations.
  
• Stochastic integration.
  
• The Feyman Kac theorem.
  
• Stochastic control.
  
• Local time.
  
• Girsanov's theorem.

This is a no-nonsense professional book which demystifies and simplifies the subject, and which will appeal to both practitioners and students.

The ongoing evolution of international commodity markets is a fscinating aspect of globalisation, inasmuch as many basic commodities are traded globally on international physical markets, often associated with efficient and global futures markets.
International Commodity Trading

• offers a comprehensive discussion of the specific mechanisms that apply to physical and futures markets
• discusses the various techniques associated with the management of market operations
• presents and analyses the various types of commodity markets
• provides an in-depth coverage of trading companies, of their role and of their strategies
• gives techniques for forecasting commodity prices
• gives practical examples and case studies

The next bull market is here. It's not in stocks. It's not in bonds. It's in commodities - and some smart investors will be riding that bull to record returns in the next decade. Before Jim Rogers hit the road to write his best-selling books Investment Biker and Adventure Capitalist, he was one of the world's most successful investors. He co-founded the Quantum Fund and made so much money that he never needed to work again. Yet despite his success, Rogers has never written a book of practical investment advice - until now. In Hot Commodities, Rogers offers the low-down on the most lucrative markets for today and tomorrow. In late 1998, gliding under the radar, a bull market in commodities began. Rogers thinks it's going to continue for at least fifteen years - and he's put his money where his mouth is: In 1998, he started his own commodities index fund. It's up 165% since then, with more than $200 million invested, and it's the single-best performing index fund in the world in any asset class. Less risky than stocks and less sluggish than bonds, commodities are where the money is - and will be in the years ahead. Rogers's strategies are simple and straightforward. You can start small - a few thousand dollars will suffice. It's all about putting your money into stuff you understand, the basic materials of everyday life, like copper, sugar, cotton, corn, or crude oil. Once you recognize the cyclical and historical trading patterns outlined here, you'll be on your way. In language that is both colourful and accessible, Rogers explains why the world of commodity investing can be one of the simplest of all - and how commodities are the bases by which investors can value companies, markets, and whole economies. To be a truly great investor is to know something about commodities. For small investors and high rollers alike, Hot Commodities is as good as gold ...or lead, or aluminium, which are some of the commodities Rogers says could be as rewarding for investors.

This fascinating book is loaded with practical information designed to help you in the commodity market. The author's method...proven by his million dollar success...does not involve complicated math or subjective evaluation. There are two completely systematic methods; %R and Momentum. The essence fo these methods is that they tell you if the super powers are long or short; when the super powers expect a major move to start; what commodities are in true bull or bear markets; when to start buying and when to sell for gargantuan profits. This book is a must if you're a stock or commodity trader. It will expose to you an exciting new approach to trading and thinking--the same approach that has made Larry Williams a millionaire.

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 PRECIOUS METALS TRADING

"If you want to learn how to add precious metals to your portfolio, and the author of this book makes a persuasive case that you should, then read this book. Pay attention to what Gotthelf writes because he has studied the history and trading of these metals for his entire adult life. Moreover, he has traded them profitably over that period. Whether your interest is precious metal stocks, futures, options, or bullion itself, this book is the place to find out what you need to know."
--Stanley W. Angrist, former commodities reporter, The Wall Street Journal

"Because the precious metals market has a penchant for dramatic and fundamental change, Gotthelf's latest work is the bible for those who want enduring market background as a precursor to making money in these markets during these uncertain times. The step-by-step information will make that a much easier proposition!"
--Gail Osten, Executive Editor, Stocks, Futures and Options magazine

New precious metals opportunities are evolving with more profit potentials than ever before. Now, investors can buy Exchange Traded Funds (ETFs) like shares of stock that represent specific quantities of gold. Mounting political and economic uncertainty demands a new and comprehensive investment outlook that includes hard assets like precious metals. Make sure you understand how, when, and why you should use the most time-tested and proven symbols of value to make your portfolio more secure. This latest update is packed with the information you need to be a more successful overall investor.