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Learn how advances in technology can help curb bank fraud
Fraud prevention specialists are grappling with ever-mounting quantities of data, but in today's volatile commercial environment, paying attention to that data is more important than ever. "Bank Fraud" provides a frank discussion of the attitudes, strategies, and--most importantly--the technology that specialists will need to combat fraud.
Fraudulent activity may have increased over the years, but so has the field of data science and the results that can be achieved by applying the right principles, a necessary tool today for financial institutions to protect themselves and their clientele. This resource helps professionals in the financial services industry make the most of data intelligence and uncovers the applicable methods to strengthening defenses against fraudulent behavior. This in-depth treatment of the topic begins with a brief history of fraud detection in banking and definitions of key terms, then discusses the benefits of technology, data sharing, and analysis, along with other in-depth information, including: The challenges of fraud detection in a financial services environmentThe use of statistics, including effective ways to measure losses per account and ROI by product/initiativeThe Ten Commandments for tackling fraud and ways to build an effective model for fraud management
"Bank Fraud" offers a compelling narrative that ultimately urges security and fraud prevention professionals to make the most of the data they have so painstakingly gathered. Such professionals shouldn't let their most important intellectual asset--data--go to waste. This book shows you just how to leverage data and the most up-to-date tools, technologies, and methods to thwart fraud at every turn.
Use powerful C++ algorithms and Object Oriented Programming (OOP) to aid in hedge fund decision making Low interest rates, overcrowded markets and greater regulatory oversight are just some of the many reasons it is close to impossible for hedge funds to draw competitive returns. The solution for many hedge fund managers, quantitative investment analysts and risk managers is to adopt new technologies, platforms and programming languages to better manage their risks and maximise the benefits of their return profiles. Hedge Fund Modelling and Analysis is a full course in the latest analytic strategies for hedge fund investing, complete with a one-of-a-kind primer on both C++ and object oriented programming (OOP). Covering both basic and risk-adjusted performance measures, this practitioner's guide enables you to manage risk easily and make the most of key statistics with simple and advanced analysis techniques. This highly anticipated third book in the widely used Hedge Fund Modelling and Analysis series is the only guide available for applying the powerful C++ language to revolutionise hedge fund trading. Even if you've never worked with code before, the focused overview of C++ gives you everything you need to navigate the technical aspects of object oriented programming, which enables you to build sophisticated analysis programs from small units of reusable code. This book is your breakthrough introduction to winning with hedge funds in the new reality of trading. Jumpstart your new approach to beating the markets with: * All the guidance and hands-on support you need to use quantitative strategies to optimise hedge fund decision-making. * Illustrative modelling exercises and worked-out problems demonstrating what to expect when assessing risk and return factors in the real world. * A companion website offering additional C++ programs, algorithms and data to download. Make reading Hedge Fund Modelling and Analysis your new routine and gain all the insight and relevant information you need to beat the markets.
T. Rowe Price, the Sage of Baltimore In 1937, Thomas Rowe Price, Jr. founded an investment company in Baltimore that would become one of the most successful in the world. Today, The T. Rowe Price Group manages over one trillion dollars and services clients around the world. It is among the largest investment firms focused on managing mutual funds and pension accounts. Uniquely trusted and respected, the firm is considered the "gold standard" by many investment advisors. In this book, Cornelius Bond tells the full story, for the first time, of how Price, a modest and ethical man, built the company bearing his name. From the private, unpublished personal and corporate records, you will get direct access to the creative process behind Price's highly successful approach to investing. Personal insights based on Price's own writings and the personal experience of the author who worked with him for many years. The Growth Stock philosophy as described in the words of the creator and master of this approach. Two fund managers who worked closely with Mr. Price reunite to consider the investment environment of the next five to ten years as Price himself might have viewed it. This book will give you an insider's access to the true story of Thomas Rowe Price, Jr.
Suitable especially for courses on which students are encouraged to be active participants in the learning process, this text offers a practical and activity-based approach to understanding finance for people who do not need to know the technicalities of finance and accounting. This revised edition has more material on service industries, the not-for-profit sector, and education and health services. There is also coverage of the Cadbury and Greenbury codes, and more exercises and assignments. The case-study approach enables students to understand the solutions as they apply to a real business, rather than just a text-book answer, and the book can be used for a multitude of purposes, depending upon teaching time, structure and, preparation time.
Explaining the world of financial products and markets in a way that students with no background in the area can understand, each chapter of the book includes exercises, longer questions, and mini research projects to help students feel involved.
How the American government has long used financial credit programs to create economic opportunities Federal housing finance policy and mortgage-backed securities have gained widespread attention in recent years because of the 2008 financial crisis, but issues of government credit have been part of American life since the nation (TM)s founding. From the 1780s, when a watershed national land credit policy was established, to the postwar foundations of our current housing finance system, American Bonds examines the evolution of securitization and federal credit programs. Sarah Quinn shows that since the Westward expansion, the U.S. government has used financial markets to manage America (TM)s complex social divides, and politicians and officials across the political spectrum have turned to land sales, home ownership, and credit to provide economic opportunity without the appearance of market intervention or direct wealth redistribution. Highly technical systems, securitization, and credit programs have been fundamental to how Americans determined what they could and should owe one another. Over time, government officials embraced credit as a political tool that allowed them to navigate an increasingly complex and fractured political system, affirming the government (TM)s role as a consequential and creative market participant. Neither intermittent nor marginal, credit programs supported the growth of powerful industries, from railroads and farms to housing and finance; have been used for disaster relief, foreign policy, and military efforts; and were promoters of amortized mortgages, lending abroad, venture capital investment, and mortgage securitization. Illuminating America (TM)s market-heavy social policies, American Bonds illustrates how political institutions became involved in the nation (TM)s lending practices.
In 2005, Joel Greenblatt published a book that is already considered one of the classics of finance literature. In "The Little Book that Beats the Market--"a "New York Times" bestseller with 300,000 copies in print"--"Greenblatt explained how investors can outperform the popular market averages by simply and systematically applying a formula that seeks out good businesses when they are available at bargain prices. Now, with a new Introduction and Afterword for 2010, "The Little Book that Still Beats the Market" updates and expands upon the research findings from the original book. Included are data and analysis covering the recent financial crisis and model performance through the end of 2009. In a straightforward and accessible style, the book explores the basic principles of successful stock market investing and then reveals the author's time-tested formula that makes buying above average companies at below average prices automatic. Though the formula has been extensively tested and is a breakthrough in the academic and professional world, Greenblatt explains it using 6th grade math, plain language and humor. He shows how to use his method to beat both the market and professional managers by a wide margin. You'll also learn why success eludes almost all individual and professional investors, and why the formula will continue to work even after everyone "knows" it.
While the formula may be simple, understanding why the formula works is the true key to success for investors. The book will take readers on a step-by-step journey so that they can learn the principles of value investing in a way that will provide them with a long term strategy that they can understand and stick with through both good and bad periods for the stock market.
As the "Wall Street Journal" stated about the original edition, "Mr. Greenblatt...says his goal was to provide advice that, while sophisticated, could be understood and followed by his five children, ages 6 to 15. They are in luck. His 'Little Book' is one of the best, clearest guides to value investing out there."
The derivative practitioner s expert guide to IFRS 9 application Accounting for Derivatives explains the likely accounting implications of a proposed transaction on derivatives strategy, in alignment with the IFRS 9 standards. Written by a Big Four advisor, this book shares the author s insights from working with companies to minimise the earnings volatility impact of hedging with derivatives. This second edition includes new chapters on hedging inflation risk and stock options, with new cases on special hedging situations including hedging components of commodity risk. This new edition also covers the accounting treatment of special derivatives situations, such as raising financing through commodity-linked loans, derivatives on own shares and convertible bonds. Cases are used extensively throughout the book, simulating a specific hedging strategy from its inception to maturity following a common pattern. Coverage includes instruments such as forwards, swaps, cross-currency swaps, and combinations of standard options, plus more complex derivatives like knock-in forwards, KIKO forwards, range accruals, and swaps in arrears. Under IFRS, derivatives that do not qualify for hedge accounting may significantly increase earnings volatility. Compliant application of hedge accounting requires expertise across both the standards and markets, with an appropriate balance between derivatives expertise and accounting knowledge. This book helps bridge the divide, providing comprehensive IFRS coverage from a practical perspective. * Become familiar with the most common hedging instruments from an IFRS 9 perspective * Examine FX risk and hedging of dividends, earnings, and net assets of foreign subsidies * Learn new standards surrounding the hedge of commodities, equity, inflation, and foreign and domestic liabilities * Challenge the qualification for hedge accounting as the ultimate objective IFRS 9 is set to replace IAS 39, and many practitioners will need to adjust their accounting policies and hedging strategies to conform to the new standard. Accounting for Derivatives is the only book to cover IFRS 9 specifically for the derivatives practitioner, with expert guidance and practical advice.
Extensively revised to reflect the dramatic shifts and consolidation of the financial markets, the seventh edition of this highly regarded book provides a clear and incisive guide to a complex world that even those who work in it often find hard to understand.
With chapters on the markets that deal with money, foreign exchange, equities, bonds, commodities, financial futures, options and other derivatives, it looks at why these markets exist, how they work and who trades in them, and it gives a run-down of the factors that affect prices and rates.
Business history is littered with disasters that occurred because people involved their firms with financial instruments they didn't properly understand. If they had had this book they might have avoided their mistakes. For anyone wishing to understand financial markets, there is no better guide.
This text draws together the issues surrounding the preparation of financial statements for groups. It sets out the historical and legal background to consolidated accounts, and also deals with the practicalities of implementing the requirement and producing the accounts.
How silver influenced two hundred years of world history, and why it matters today This is the story of silver (TM)s transformation from soft money during the nineteenth century to hard asset today, and how manipulations of the white metal by American president Franklin D. Roosevelt during the 1930s and by the richest man in the world, Texas oil baron Nelson Bunker Hunt, during the 1970s altered the course of American and world history. FDR pumped up the price of silver to help jump start the U.S. economy during the Great Depression, but this move weakened China, which was then on the silver standard, and facilitated Japan (TM)s rise to power before World War II. Bunker Hunt went on a silver-buying spree during the 1970s to protect himself against inflation and triggered a financial crisis that left him bankrupt. Silver has been the preferred shelter against government defaults, political instability, and inflation for most people in the world because it is cheaper than gold. The white metal has been the place to hide when conventional investments sour, but it has also seduced sophisticated investors throughout the ages like a siren. This book explains how powerful figures, up to and including Warren Buffett, have come under silver (TM)s thrall, and how its history guides economic and political decisions in the twenty-first century.
This text explains in an intuitive yet rigorous way the mathematical and statistical applications relevant to modern financial instruments and risk management techniques. It progresses at a pace that is comfortable for those with less mathematical expertise yet reaches a level of analysis that will reward even the most experienced. The strong applied emphasis makes this book ideal for anyone who is seriously interested in mastering the quantitative techniques underpinning modern financial decision making.
This book features straightforward stock market strategies that offer exceptional returns and cash flow while substantially reducing market risk. With only minimal extra effort each month, you can do better - a lot better - than buy-and-hold. To earn solid returns while effectively managing risk, millions of investors in whipsaw financial markets have learned that basic option writing strategies can make a dramatic improvement in their investment returns. "Option Writing Strategies for Extraordinary Returns" details put and call writing techniques that investors from conservative to aggressive are using to both generate and protect portfolio profits in bull, bear, and non-trending markets. Whether your goal is to create better-than-average long-term growth or generate better-than-average current income, this timely book provides step-by-step directions you can follow to create a stock option strategy that allows you to: combine the purchase of blue chip stock with the writing of puts and calls on that stock; increase your long position in the future, if the put is exercised, at a fixed price that is guaranteed to be lower than the current price; and, generate significant interest on cash received when you write options. It's not as complex as it sounds; it is, however, proven effective at reducing the risk of owning common stocks. "Option Writing Strategies for Extraordinary Returns" will change the way you look at stock ownership and option writing by combining the two into an effective, all-weather investing program. For too long, individual investors have been inundated with stories on the perils of option buying. Brokers and money managers who passed along these scare stories could hardly be blamed, since more often than not they had never taken the time to understand the profitable merits of writing options. "Option Writing Strategies for Extraordinary Returns" explains, in everyday language and without complex mathematics, how you can use option writing strategies to improve your investment returns while shielding your portfolio from unexpected loss. It explodes the prevailing myth that writing options exposes an investor to unpredictable and unlimited risk by detailing how, when used correctly, option writing is in fact among the most easy-to-use methodologies for shielding your portfolio from such risk. Using tables and charts to illustrate each step, veteran options expert David Funk details an innovative 'three-legged' model that involves the purchase of a stock position and the simultaneous writing of both put and call options with different strike prices on that position. This model reduces the amount of downside risk assumed versus buying stock alone, while allowing you the flexibility to increase your upside potential when you feel circumstances warrant. This well-organized guidebook takes you through an innovative program designed to turn basic put and call option writing into powerful income and capital building tools: Section one covers the basic concepts of covered call and cash-collateralized put writing; Section two explains how to design an investment program focused on capital appreciation; Section three shows how to adjust that program to maximize current income; Section four explores advanced strategies for extending positions, profiting from unusual events, and more; Section 5 shows you how to prepare for, and even profit from, early assignments and other unexpected occurrences; and, Section 6 takes a more in-depth look at the underlying theory of option writing. "Option Writing Strategies for Extraordinary Returns" isn't a get-rich-quick book that promises to double your money each year. What David Funk's book does promise is to introduce you to a commonsense, market-proven investing strategy for making more money than the majority of investors, while providing your portfolio with specific loss limits when the market drops. 'These savvy investors likely outperform 98 percent of all investors over the years' - Yale Hirsch, Founder, "The Stock Trader's Almanac". 'Superbly written...irresistibly clever ways to cope with the market's stubborn refusal to publish an itinerary of the future' - Don Worden, Worden Brothers, Inc., publishers of TeleChart, www.worden.com. 'Clear, concise, and easy to read...an excellent job of making strategies involving short options accessible to everyone' - James B. Bittman, Senior Instructor, CBOE Options Institute, and author of "Options for the Stock Investor". 'This method works exceptionally well no matter which way the market swings...an excellent way to establish an investment portfolio' - Brooks Harrison, Former Chief Technical Analyst, John Magee, Inc. 'This book presents sophisticated investment strategies in simple and clear language, enabling investors to improve their returns and reduce risks' - Pedro Belli, Economist, formerly with the World Bank.
The new edition of Business Analysis and Valuation builds on the strong success of the first IFRS edition, providing students with the knowledge of how to use financial statement information to assess a firm's financial performance, value, and creditworthiness. The text is primarily aimed at Masters and upper-level undergraduate programs in business and builds a bridge between accounting and finance, therefore making it accessible to both finance and accounting students. The distinctive strengths of this text include a large number of real-world cases used to illustrate theory; the step-by-step analysis methodology, and the extensive discussion of strategy analysis. The presentation of material is based on business analysis before financial analysis, which ensures that financial analysis is approached in a real-world manner and is driven by strategy. The pedagogy is geared toward helping students to develop strong practical skills using current applications and supported by the extra interactive material on the companion website.
Learn to manage your money to maximize your earning potential with Reilly/Brown/Leeds' INVESTMENT ANALYSIS AND PORTFOLIO MANAGEMENT, 11th Edition. Extremely reader friendly in a succinct 18 chapters, this text equips you with a solid understanding of investment instruments, capital markets, behavioral finance, hedge funds, international investing and much more. Real-world examples and hands-on applications bring chapter concepts to life as you learn to use the same tools as investment professionals. The 11th edition's unparalleled international coverage provides specific information on non-U.S. markets, instruments, conventions and techniques. New detailed discussions explain the impact of changes in both technology and regulations on global security markets. In addition, three chapters are devoted to derivatives securities--which are now standard investment instruments.
A Great Deal of Ruin provides an accessible introduction to the enduring problem of financial crises. Illustrated with historical analysis, case studies, and clear economic concepts, this book explains in three parts what financial crises are, how they are caused and what we can learn from them. It begins with a taxonomy of crises and a list of factors that increase the risk for countries experiencing a financial crisis. It then examines five of the most important crises in modern economic history, beginning with Great Depression and ending with the Subprime Crisis in the United States and its evolution into a debt crisis in the Eurozone. The book concludes with a set of lessons that can be learnt from the crises of the past. It will appeal to university students as well as general readers who are curious to learn more about the recent Subprime Crisis and other financial crises.
Position your portfolio for growth with one of America's bestselling mutual fund books Are you looking for a trusted resource to help you add mutual funds to your investment strategy? With straightforward advice and a plethora of specific, up-to-date mutual fund recommendations, personal finance expert Eric Tyson helps you avoid fund-investing pitfalls and maximize your chances of success. Newly revised and updated, Mutual Funds For Dummies quickly and easily helps you pick the best funds, assemble and maintain your portfolio, and evaluate your funds' performance. In no time, it gets you up and running on exchange-traded funds, tax laws affecting investments in funds, how to evaluate different fund-investing strategies, and much more. Plan and implement a successful investment strategy that includes mutual funds Avoid fund-investing pitfalls Find the best-managed funds that match your financial goals Select among mutual funds, exchange-traded funds, and other investing options Complemented with sample fund portfolios and updated forms that show you exactly how to accomplish your financial goals, this is your trusted resource for planning and implementing a successful investment strategy that includes mutual funds.
This comprehensive and topical work examines the impact of European Banking Union in the context of the European Central Bank taking over supervision of the 130 European banks in 2014. The work addresses the effect on the daily supervision of large banks in Europe and also analyses the position of bank creditors and shareholders. The thematic approach covers the Single Rulebook and CRD IV, the Single Supervisory System (SSM), and the Single Resolution Mechanism (SRM) from a legal and economic perspective. The book also compares the US to Europe and assesses whether anything can be learnt from US experience. Key issues such as judicial protection of supervised credit institutions, implications for financial market governance, and risk management and compliance, are examined alongside case-studies and analysis.
Tap Dancing To Work compiles six decades of writing on legendary investor Warren Buffett, from Carol Loomis, the reporter who knows him best.
Warren Buffett built Berkshire Hathaway into something remarkable - and Fortune had a front-row seat. When Fortune writer Carole Loomis first mentioned a little-known Omaha hedge fund manager in a 1966 article, she didn't dream that Warren Buffett would become the world's greatest investor. Nor did she imagine that she and Buffett would be close friends. As Buffett's fortune and reputation grew, Loomis used her unique insight into his thinking to chronicle his work, writing scores of stories that tracked his many accomplishments - and his occasional mistakes. Now Loomis has collected and updated the best Buffett articles from Fortune between 1966 and 2013, including cover stories and pieces by Buffett himself.
Readers will gain fresh insights into Buffett's investment strategies and his thinking on management, philanthropy, public policy, and even parenting. Scores of Buffett books have been written, but none can claim this combination of trust, deep understanding of Buffett's world, and a long-term perspective.
'Worth far more than its cover price ... I wish I'd had it available to me when I was first looking for startup funding' -- Eric Rees Every startup needs capital, and ambitious startups seek it on Sand Hill Road - Silicon Valley's dream street for entrepreneurs. That's where you'll find the biggest names in venture capital, including the famed VC firm Andreessen Horowitz, where lawyer-turned-entrepreneur-turned-VC Scott Kupor serves as managing partner. Whether you're trying to get a new company off the ground or scale an existing business to the next level, you need to understand how VCs think. Secrets of Sand Hill Road is the first book that shows you exactly how VCs decide where and how much to invest. It will help you get the best possible deal and make the most of your relationships with VCs. You'll learn, for instance: -- Why most VCs typically invest in only one startup in a given business category -- Why the talent you need most when raising venture capital is your storytelling ability -- How to handle a 'down round', when you have to raise funds at a lower valuation than in your previous round -- Why bridge financing (reopening your last round to existing investors) is generally a bad idea -- What to do when VCs get too entangled in the day-to-day operations of your business -- Why you need to build relationships with potential acquirers long before you decide to sell Filled with Kupor's firsthand experiences, insider advice, and practical takeaways, Secrets of Sand Hill Road is the guide you need to turn yourstartup into the next unicorn.
Shortlisted for the Financial Times Business Book of the Year! `Will snare you in its web of deceit ... A brilliant investigative expose' - Harlan Coben, bestselling thriller author `Reads like a fast-paced John le Carre thriller, and never lets up' - New York Times book review The Spider Network is the almost-unbelievable and darkly entertaining inside account of the Libor scandal - one of the biggest, farthest-reaching financial scams since the global financial crisis - written by the only journalist with access to Tom Hayes before he was sentenced to fourteen years in prison. Full of exclusive details, and with ramifications that stretch right across the British establishment, this is a gripping, real-life story of outlandish characters and reckless greed in the City of London. By turns a rollicking account of the scandal and also a provocative examination of a financial system that was crooked throughout, The Spider Network is a perfect read for fans of The Wolf of Wall Street and The Big Short.
"Investment Banking, UNIVERSITY EDITION" is a highly accessible and authoritative book written by investment bankers that explains how to perform the valuation work at the core of the financial world. This body of work builds on Rosenbaum and Pearl's combined 30+ years of experience on a multitude of transactions, as well as input received from numerous investment bankers, investment professionals at private equity firms and hedge funds, attorneys, corporate executives, peer authors, and university professors.
This book fills a noticeable gap in contemporary finance literature, which tends to focus on theory rather than practical application. It focuses on the primary valuation methodologies currently used on Wall Street--comparable companies, precedent transactions, DCF, and LBO analysis--as well as M&A analysis. The ability to perform these methodologies is especially critical for those students aspiring to gain full-time positions at investment banks, private equity firms, or hedge funds. This is the book Rosenbaum and Pearl wish had existed when we were trying to break into Wall Street.
Written to reflect today's dynamic market conditions, "Investment Banking, UNIVERSITY EDITION "skillfully: Introduces students to the primary valuation methodologies currently used on Wall StreetUses a step-by-step how-to approach for each methodology and builds a chronological knowledge baseDefines key terms, financial concepts, and processes throughoutProvides a comprehensive overview of the fundamentals of LBOs and an organized M&A sale processPresents new coverage of M&A buy-side analytical tools--which includes both qualitative aspects, such as buyer motivations and strategies, along with technical financial and valuation assessment toolsIncludes a comprehensive merger consequences analysis, including accretion/(dilution) and balance sheet effectsContains challenging end-of-chapter questions to reinforce concepts covered
A perfect guide for those seeking to learn the fundamentals of valuation, M&A, and corporate finance used in investment banking and professional investing, this "UNIVERSITY EDITION"--which includes an instructor's companion site--is an essential asset. It provides students with an invaluable education as well as a much-needed edge for gaining entry to the ultra-competitive world of professional finance.
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