A first-hand look at the extraordinary collapse of FTX, Alameda Research, and Sam Bankman-Fried In SBF: How the FTX Bankruptcy Unwound Crypto’s Very Bad Good Guy, accomplished crypto reporter Brady Dale presents an engrossing take on the spectacular and sudden implosion of FTX, Alameda Research, and their associated companies, as well as the criminal indictments of Sam Bankman-Fried and several of his associates. In the book, you’ll go beyond the salacious details and tawdry gossip to grasp the real lessons to be learned from one of the most dramatic corporate failures in living memory. The author explores: The often-confusing world of cryptocurrency and decentralized finance, offering a deep understanding of both industries The history of Sam Bankman-Fried, what smart money players had to say about him in 2019 and 2020, and why many decentralized finance professionals considered him a “pirate” even before FTX and Alameda blew up What the aggressive lobbying campaigns waged by FTX and Sam Bankman-Fried reveal about the latter’s motives and goals An extraordinary account of almost unimaginable wealth, greed, and hubris, SBF is a can’t-miss account of a fascinating corporate tragedy that continues to unfold to this very day.

This book offers a comparative perspective on 18 countries' legal regulation of crowdfunding. In the wake of the financial crises of 2008, use of this alternative financing method has increased substantially, in various forms. Whereas some states have adopted tailor-made regimes in order to regulate but also encourage this way of financing projects, allowing loans to be made by non-banking institutions, others still haven't specifically addressed the subject. An analysis of these diverse legislative stances offers readers a range of legal solutions for managing crowdfunding activities with regard to e.g. protecting investors, imposing limits on project owners, and finally the role and duties of intermediaries, i.e., companies operating crowdfunding platforms. In addition, the content presented here provides a legal basis for states and supranational organizations interested in regulating this phenomenon to achieve more legal certainty.

This research review assesses the ground-breaking contributions to the evolution of knowledge in the economics of risk and time, from its early twentieth-century explorations to its current diversity of approaches. The analysis focuses first on the basic decisions under uncertainty, and then on asset pricing. It further discusses both classical expected utility approach and its non-expected utility generalizations, with applications to dynamic portfolio choices, insurance, risk sharing, and risk prevention. This review will be valuable for scholars in finance and macroeconomics, particularly those with an interest in the modeling foundations of consumer and investor decisions under uncertainty.

This book is an essential tool for understanding the range of IP investment strategies - and how companies unlock value and profit from it. It provides a valuable tutorial for businesspeople, entrepreneurs, analysts, and dealmakers seeking better to understand, with clear examples, the components of different IP categories and their value-creating applications.

Electronic and algorithmic trading has become part of a mainstream response to buy-side traders' need to move large blocks of shares with minimum market impact in today's complex institutional trading environment. This book illustrates an overview of key providers in the marketplace. With electronic trading platforms becoming increasingly sophisticated, more cost effective measures handling larger order flow is becoming a reality. The higher reliance on electronic trading has had profound implications for vendors and users of information and trading products. Broker dealers providing solutions through their products are facing changes in their business models such as: relationships with sellside customers, relationships with buyside customers, the importance of broker neutrality, the role of direct market access, and the relationship with prime brokers.
Electronic and Algorithmic Trading Technology: The Complete Guide is the ultimate guide to managers, institutional investors, broker dealers, and software vendors to better understand innovative technologies that can cut transaction costs, eliminate human error, boost trading efficiency and supplement productivity. As economic and regulatory pressures are driving financial institutions to seek efficiency gains by improving the quality of software systems, firms are devoting increasing amounts of financial and human capital to maintaining their competitive edge. This book is written to aid the management and development of IT systems for financial institutions. Although the book focuses on the securities industry, its solution framework can be applied to satisfy complex automation requirements within very different sectors of financialservices - from payments and cash management, to insurance and securities.
Electronic and Algorithmic Trading: The Complete Guide is geared toward all levels of technology, investment management and the financial service professionals responsible for developing and implementing cutting-edge technology. It outlines a complete framework for successfully building a software system that provides the functionalities required by the business model. It is revolutionary as the first guide to cover everything from the technologies to how to evaluate tools to best practices for IT management.
*First book to address the hot topic of how systems can be designed to maximize the benefits of program and algorithmic trading
*Outlines a complete framework for developing a software system that meets the needs of the firm's business model
* Provides a robust system for making the build vs. buy decision based on business requirements

The long-awaited sequel to the "Concepts and Practice of Mathematical Finance" has now arrived. Taking up where the first volume left off, a range of topics is covered in depth. Extensive sections include portfolio credit derivatives, quasi-Monte Carlo, the calibration and implementation of the LIBOR market model, the acceleration of binomial trees, the Fourier transform in option pricing and much more. Throughout Mark Joshi brings his unique blend of theory, lucidity, practicality and experience to bear on issues relevant to the working quantitative analyst.

"More Mathematical Finance" is Mark Joshi's fourth book. His previous books including "C++ Design Patterns and Derivatives Pricing" and "Quant Job Interview Questions and Answers" have proven to be indispensable for individuals seeking to become quantitative analysts. His new book continues this trend with a clear exposition of a range of models and techniques in the field of derivatives pricing. Each chapter is accompanied by a set of exercises. These are of a variety of types including simple proofs, complicated derivations and computer projects.

Chapter 1. Optionality, convexity and volatility 1

Chapter 2. Where does the money go? 9

Chapter 3. The Bachelier model 23

Chapter 4. Deriving the Delta 29

Chapter 5. Volatility derivatives and model-free dynamic replication 33

Chapter 6. Credit derivatives 41

Chapter 7. The Monte Carlo pricing of portfolio credit derivatives 53

Chapter 8. Quasi-analytic methods for pricing portfolio credit derivatives 71

Chapter 9. Implied correlation for portfolio credit derivatives 81

Chapter 10. Alternate models for portfolio credit derivatives 93

Chapter 11. The non-commutativity of discretization 113

Chapter 12. What is a factor? 129

Chapter 13. Early exercise and Monte Carlo Simulation 151

Chapter 14. The Brownian bridge 175

Chapter 15. Quasi Monte Carlo Simulation 185

Chapter 16. Pricing continuous barrier options using a jump-diffusion model 207

Chapter 17. The Fourier-Laplace transform and option pricing 219

Chapter 18. The cos method 253

Chapter 19. What are market models? 265

Chapter 20. Discounting in market models 281

Chapter 21. Drifts again 293

Chapter 22. Adjoint and automatic Greeks 307

Chapter 23. Estimating correlation for the LIBOR market model 327

Chapter 24. Swap-rate market models 341

Chapter 25. Calibrating market models 363

Chapter 26. Cross-currency market models 389

Chapter 27. Mixture models 401

Chapter 28. The convergence of binomial trees 407

Chapter 29. Asymmetry in option pricing 433

Chapter 30. A perfect model? 443

Chapter 31. The fundamental theorem of asset pricing. 449

Appendix A. The discrete Fourier transform 457

Praise for the Concepts and Practice of Mathematical Finance:

"overshadows many other books available on the same subject" -- ZentralBlatt Math

"Mark Joshi succeeds admirably - an excellent starting point for a numerate person in the field of mathematical finance." -- Risk Magazine

"Very few books provide a balance between financial theory and practice. This book is one of the few books that strikes that balance." -- SIAM Review

The series, Contemporary Perspectives on Data Mining, is composed of blind refereed scholarly research methods and applications of data mining. This series will be targeted both at the academic community, as well as the business practitioner. Data mining seeks to discover knowledge from vast amounts of data with the use of statistical and mathematical techniques. The knowledge is extracted from this data by examining the patterns of the data, whether they be associations of groups or things, predictions, sequential relationships between time order events or natural groups. Data mining applications are in finance (banking, brokerage, and insurance), marketing (customer relationships, retailing, logistics, and travel), as well as in manufacturing, health care, fraud detection, homeland security, and law enforcement.

This book presents a comprehensive economic plan for Greece to encourage growth and avoid future crises. This book emphasizes structural reforms and the rational financial management and analysis of private and investment infrastructures. This book also looks at the country's production and places an emphasis on revitalizing its technological structure. The analysis in this book includes policy implementation (in the short-, medium- and long-term) across important topics such as sustainability, inclusivity, pro-growth social behavior, and dynamic economic growth. This book takes an evolutionary economics perspective, looking at important structures throughout society like governance, political functioning, cultural attitudes, and growth. With its comprehensive approach, this book is crucial reading for scholars and policymakers interested in the Greek economy.

The Financial TruthLet's be honest; money is a predetermined tool and only so much of it will flow through our hands during our lifetime. Since we can only use money once, it is crucial that we use it wisely There are endless ways to spend our money. Trying to fulfill our financial needs, wants, and coveting desires, can run up a huge tab. Not to mention, all the seducing advertising messages, that are constantly influencing us to buy, spend, and borrow. Before we know it, we are living beyond our means and our finances are totally out of control Maybe you are living paycheck to paycheck, or experiencing a temporary setback, or perhaps you plainly need a minor money tune-up. It doesn't matter. With a little help and self discipline, you can overcome your money challenges and regain control of your finances.Unfortunately, most Americans have nothing to show at the end of their working years. Bills still arrive at their mailbox every month. Sadly, many will retire broke and penniless. Even though a million or more dollars past through their hands during their working years, most end up with no monetary support system in place.Seek and practice financial truths that will make you financially FREE The truth is, with the right plan, you can achieve financial peace and prosperity in this lifetime.

Essential knowledge of International Financial Reporting Standards for students of global accounting This important work provides the tools global accounting students need to understand international financial reporting standards (IFRS) and how they are applied in practice. This text emphasizes fair value, proper accounting for financial instruments, and new developments in international accounting. By presenting IFRS in light of current accounting practice, this book helps students gain practical knowledge of the topic that they can apply as they advance into their global accounting careers. With this revised and updated Fourth Edition, students will develop a firm conceptual understanding of IFRS, as well as the ability to integrate their learning through practical exercises. Throughout this text, Global Accounting Insights highlight the important differences that remain between IFRS and U.S. GAAP, discussing the ongoing joint convergence efforts to resolve them. Comprehensive, up-to-date, and accurate, Intermediate Accounting IFRS includes proven pedagogical tools designed to help students learn more effectively. Comprehensively covers the latest International Financial Reporting Standards and how they are applied in practice Takes a comparative approach to help students understand the differences between IFRS, U.S. GAAP, and other important standards Emphasizes practical application of knowledge with end-of-chapter Review and Practice sections Provides authoritative references and citations to ensure content reliability and provide opportunities for further study Includes access to video walkthroughs, interactive content, and digital resources to support student engagement and ensure positive learning outcomes As IFRS gains broad acceptance around the world, students of global accounting will need to be intimately familiar with these standards, and prepared to keep up with the rapid changes in the international environment. Intermediate Accounting IFRS answers to these pressing needs, making it the clear choice for accounting courses at the intermediate level.

Anyone who works in an environment where cash is key and common will want to be trusted, be seen as effective and efficient in their style of service, and be happy on and off the job. However, this is not always the case, as most cash workers end up with low self-esteem, depressed, and frustrated. All these things result from mistakes that are based on a poor psychological understanding of the job they have to do. Winning with Cash shows you how to strike a balance between your work, your relationships on and off the job, and yourself without sacrificing the exceptional bottom line targets placed on you by your supervisor and your organization as a whole. This handy guide is filled with powerful lessons on the following: How to identify the different types of customer psychology and customer service tips How to relieve stress and decrease the number of errors you commit How to easily catch and round up a fraudster How to manage and tame your boss How to make your income bigger Winning with Cash is not just a compilation of some procedures and policies guiding the processing of cash laid up in banks, financial institutions, or sales centers'; it goes beyond this to place the cash man on a balanced psychological start, telling him where and how to deal with the challenges he must definitely encounter on the job and thereby ensuring the cash man of a successful career growth in this path.

Over the past years, significant changes have occurred in the corporate sector arising from globalization, increasing international competitiveness, and intensive use of information and communication technologies (ICTs). These developments have led to new corporate and social behaviors that are affecting the entire corporate value chain. Thus, business organizations are focusing on technological innovation as a driving force of development. Emerging Tools and Strategies for Financial Management is a pivotal reference source that explores both practical and theoretical perspectives on how financial management is evolving and how future consequences of technological innovation will affect individuals, businesses, and society. While highlighting topics such as financial imbalance, venture capital, and shadow banking, this publication explores the relationship between companies and their customers and the methods of generating changes in today's enterprises. This book is ideally designed for business managers, financial analysts, financial controllers, directors, finance officers, treasurers, entrepreneurs, CEOs, academicians, students, and research professionals.

Providing an in-depth case study on the emergence of social impact investing in the UK, this book develops a new perspective on financialization processes that highlights the roles of non-financial actors. In contrast to the common view that impact investing gears finance toward the solution of social problems, the author analyzes how these investments create new problems and inequalities. To explain how social impact investing became popular in British social policy despite its unclear effectiveness, the author focuses on cooperative relations between institutional entrepreneurs from finance and various non-financial actors. Drawing on field theory, he shows how seemingly unrelated social transformations - such as HM Treasury's expanding role in public service reform - may act as resonance spaces for the spread of finance. Opening up a new perspective on financialization processes in the terrain of public policy, this book invites readers to refocus scholarship on capitalist dynamics to the meso-level. Based on this analysis, the author also proposes ways to transform social impact investing to increase its potential for reducing global inequalities.

When we start to perceive that there is a problem in the market (such as monopoly, fraud or speculation), the legislature passes a law to correct it, a bureaucracy is created to interpret and enforce the new law, firms and other market participants comply, and the problem is solved. But is it? Are politicians' promises and textbooks' stories to be believed? This book examines US economic history to demonstrate how the applications of laws are uncertain, affected by changing political and economic conditions as well as by legislators' perceptions and the ability or willingness of bureaucracies to enforce laws. The two cases developed in this book revolve around William McChesney Martin, Jr., who helped apply (i) the 1930s Securities Acts as president of the New York Stock Exchange and (ii) the Federal Reserve Act in the Keynesian era unforeseen by that Act. As chairman of the New York Stock Exchange, Martin served as private regulator of firms listed on the Exchange-itself a publicly regulated entity. As chairman of the Federal Reserve, he then served as a public regulator. This book thus offers an innovative approach to understanding and examining the various issues and incentives facing each of the three parties: regulated, private regulator, and public regulator.