In "Securities Finance," editors Frank Fabozzi and Steven Mann assemble a group of prominent practitioners in the securities finance industry to provide readers with an enhanced understanding of the various arrangements in the securities finance market. Divided into three comprehensive parts--Securities Lending, Bond Financing via the Repo Market, and Equity Financing Alternatives to Securities Lending--this book covers a wide range of securities finance issues, including alternative routes to the securities lending market, evaluating risks in securities lending transactions, U.S. and European repo markets, dollar rolls and their impact on MBS valuation and strategies, derivatives for financing equity positions and equity repos, and more. Filled with in-depth insight and expert advice, "Securities Finance" contains the information readers need to succeed in this rapidly expanding market.

The essays in this open access volume identify the key ingredients for success in capitalizing on public investments in scientific projects and the development of large-scale research infrastructures. Investment in science - whether in education and training or through public funding for developing new research tools and technologies - is a crucial priority. Authors from big research laboratories/organizations, funding agencies and academia discuss how investing in science can produce societal benefits as well as identifying future challenges for scientists and policy makers. The volume cites different ways to assess the socio-economic impact of Research Infrastructures and their role as hubs of global collaboration, creativity and innovation. It highlights the different benefits stemming from fundamental research at the local, national and global level, while also inviting us to rethink the notion of "benefit" in the 21st century. Public investment is required to maintain the pace of technological and scientific advancements over the next decades. Far from advocating a radical transformation and massive expansion in funding, the authors suggest ways for maintaining a strong foundation of science and research to ensure that we continue to benefit from the outputs. The volume draws inspiration from the first "Economics of Big Science" workshop, held in Brussels in 2019 with the aim of creating a new space for dialogue and interaction between representatives of Big Science organizations, policy makers and academia. It aspires to provide useful reading for policy makers, scientists and students of science, who are increasingly called upon to explain the value of fundamental research and adopt the language and logic of economics when engaging in policy discussions.

This important book examines the development of soft law instruments in international investment law and the feasibility of a 'codification' of the present state of this field of international economic law. It draws together the views of international experts on the use of soft law in international law generally and in discrete fields such as WTO, commercial, and environmental law. The book assesses whether investment law has sufficiently coalesced over the last 50 years to be 'codified' and focuses particularly on topical issues such as most-favored-nation treatment and expropriation. This timely book will appeal to academics interested in the development of international law and legal theory, to those working in investment law, government investment treaty negotiators and arbitration practitioners. Contributors: A.K. Bjorklund, G. Cordero-Moss, M.G. Desta, M. Hirsch, K. Miles, A. Reinisch, E. Sipiorski, C. Tietje, A.R. Ziegler

This is the first comprehensive textbook for students studying fixed-income securities, and is ideally suited to MBA, MSc and final year undergraduate students in Finance and related topics. 

The text offers an accessible and detailed account of interest rates and risk management in bond markets. It develops insights into different bond portfolio strategies, and illustrates how various types of derivative securities can be used to shift the risks associated with investing in fixed-income securities. It also provides extensive coverage on all sectors of the bond market, and the techniques for valuing bonds. In addition, explanation is given of state-of-the-art techniques for bond portfolio management, including:

• A description of numerous fixed-income assets and related securities, namely zero coupon government bonds, coupon bearing government bonds, corporate bonds, exchange-traded bond options, bonds with embedded options, floating rate notes, caps, floors and collars, swaptions, credit derivatives, mortgage-backed securities, etc.
• The development of tools to analyse interest rate sensitivity and to value fixed- income securities, with an emphasis on active and passi ve bond management, and an overview of techniques used by mutual fund and also hedge fund managers.

With numerous worked examples covering the valuation, risk management and portfolio strategies of fixed income securities, and imaginative discussion of important topics such as deriving the zero yield curve, deriving credit spreads, and hedging interest rate risk, the text provides an accessible route into the complex worlds of fixed income securities. 

Supplementary materials for lecturers and students (including a syllabus, a course web page, PowerPoint slides, solutions to problems, and Excel illustrations) can be found at the following website: www.wiley.co.uk/martellini

"The authors have produced a work of the very highest quality.  As focused as it is comprehensive, this is a superb contribution to the literature..."
Moorad Choudhry, VP, Structured Finance Services, JPMorgan Chase Bank, Senior Fellow, Centre for Mathematical Trading and Finance, CASS Business School, London.

The Florida land boom was an outgrowth of the industrialization of America, the onset of World War I, and the special natural environment of the state. A place for forts and ports since the days of the Spanish Empire, the presence of military aviation in Florida served to bring attention to the state. Florida came to attract tourists, winter residents, as well as promoters, developers, and speculators. Rich in documentation and illustrated with photographs, this work is an effort to give serious theoretical and factual treatment to one of the great speculation booms in history.

Rooted in the civil law systems of continental Europe, where foundations originally served mainly charitable purposes, the private foundation is an innovative development in common law jurisdictions. More and more jursidictions are introducing private foundations as an alternative to trusts and practitioners are increasingly asked to advise clients on the intricacies of the developing law and the differences between jurisdictions. Private Foundations World Survey is the first survey book to consider comprehensively private foundations law and practice in each of the key jurisdictions. With a unique questionnaire format and summary factsheet for easy reference, it examines all the fundamental aspects of setting up and maintaining a private foundation, with reference to relevant legislation and case law. The two expert editors, along with a team of leading international practitioners, cover an exhaustive range of topics, including protectors, taxation, alternatives to private foundations, forced heirship, divorce, asset protection, and migration of private foundations as well as anti-money laundering and KYC requirements. Alongside 21 jurisdiction-specific chapters (which include jurisdictions where the law is still developing, as well as those with more established systems), the book contains general chapters on the uses of foundations and taxation issues in the UK and US. It thus provides readers with all the information they need to confidently assess and advise on any aspect of private foundations law.

Solid Forex strategies for capturing profits in today's volatile markets

"How to Make a Living Trading Foreign Exchange" puts the world of Forex at your fingertips. Author Courtney Smith begins with an introduction to the Forex market-what it is and how it works. He then delves into six moneymaking techniques for trading Forex, including his unique Rejection Rule that doubles the profit of basic channel breakout systems. In addition to two specific methods for exiting positions at critical levels, Smith also discusses powerful risk management techniques and successful trading psychology strategies that will keep you one step ahead of the game.Reveals the secrets of the Forex market and how to create a lifetime of income trading itOffers advice on maximizing profits during the volatile swings that have increasingly become the normOther titles by Smith: "Option Strategies, Third Edition, Seasonal Charts For Futures Traders, Commodity Spreads, " and "Profits Through Seasonal Trading"

Make more from today's Forex market with "How to Make a Living Trading Foreign Exchange."

Financial Trading and Investing, Third Edition provides a useful introduction to trading and market microstructure for advanced undergraduate as well as master's students. Without demanding a background in econometrics, the book explores alternative markets and highlights recent regulatory developments, implementations, institutions and debates. The text offers explanations of controversial trading tactics (and blunders) such as high-frequency trading, dark liquidity pools, fat fingers, insider trading and flash orders, emphasizing links between the history of financial regulation and events in financial markets. It includes coverage of valuation and hedging techniques, particularly with respect to fixed income and derivative securities. The text adds a chapter on financial utilities and institutions that provide support services to traders and updates regulatory matters. Combining theory and application, this book provides a practical beginner's introduction to today's investment tools and markets with a special emphasis on trading.

Critical Praise for Common Stocks and Uncommon Profits and Other Writings

"You will find lots of jewels in these pages that may do as much for you as they have for me."
–– Kenneth L. Fisher

"I sought out Phil Fisher after reading his Common Stocks and Uncommon Profits and Other Writings. When I met him, I was as impressed by the man as by his ideas. A thorough understanding of the business, obtained by using Phil’s techniques . . . enables one to make intelligent investment commitments."
–– Warren Buffett

"Little known to the public, rarely interviewed, and accepting few clients, Philip Fisher is nevertheless read and studied by most thoughtful investment professionals . . . everyone will profit from pondering–as Warren Buffett has done–the investment principles Fisher espouses."
–– James W. Michaels
former editor, Forbes

"My own copy [of Common Stocks and Uncommon Profits and Other Writings] has underlinings and marginal thoughts throughout."
–– John Train
author of Dance of the Money Bees

Updated features include a new Preface and Introduction from Kenneth L. Fisher

Widely respected and admired, Philip Fisher is among the most influential investors of all time. His investment philosophies, introduced almost forty years ago, are not only studied and applied by today’s finance professionals, but are also regarded by many as gospel. Common Stocks and Uncommon Profits and Other Writings reveals these timeless philosophies.

The advice is sound; the client seems eager; and then... nothing happens! Too often, this is the experience that financial professionals encounter in their daily work. When good recommendations go unimplemented, clients' well-being is compromised, opportunities are lost, and the professional relationship grows strained. Advice that Sticks takes aim at the problem of financial non-adherence. Written by a neuropsychologist and financial change expert, this book examines the five main factors that determine whether a client will follow through with financial advice. Individual client psychology plays a role in non-adherence; so, too, do sociocultural and environmental factors, general advice characteristics, and specific challenges pertaining to the emotionally loaded domain of money. Perhaps most surprising, however, is the extent to which advice-givers themselves can foil implementation. A great deal of non-adherence is due to preventable mistakes made by financial professionals and their teams. The author integrates her extensive clinical and consulting experience with research findings from the fields of positive psychology, behavioural economics, neuroscience, and medicine. What emerges is a thoughtful, funny, but above all practical guide for anyone who makes a living providing financial advice. It will become an indispensable handbook for people working with clients across the wealth spectrum.

"The financial crisis focused unprecedented attention on ethics in investment banking. This book develops an ethical framework to assess and manage investment banking ethics and provides a guide to high profile concerns as well as day to day ethical challenges"--

Financial Engineering is a text with a methodological thread, making it appropriate as a reference text. Risk management and measure and control of volatility is a major theme, but broader financial issues are also covered to provide the reader with a conceptual framework to manipulate and evaluate financial instruments. Errington's text analyses the spectrum of financial engineering including explanations of financial axioms and mathematical techniques with a summary of the instruments and worked examples of how they operate. As well as risk management, arbitrageurs are also catered for, to show how instruments can be valued, deconstructed and repackaged.

Today, it has become strikingly obvious that companies no longer operate in an environment where only risk return and volatility describe the business environment. The business has to deal with volatility plus uncertainty, plus complexity and ambiguity (VUCA): that requires new qualities, competencies, frameworks; and it demands a new mind set to deal with the VUCA environment in investment, funding and financing. This book builds on a new megatrend beyond resilience, called anti-fragility. We have had the black swan (financial crisis) and the red swan (COVID) - the Bank for International Settlement is preparing for regenerative capitalism, block chain based analysis of financial streams and is aiming to prevent the "Green Swan" - the climate crisis to lead to the next lockdown. In the light of the UN 17 Sustainable Development Goals, what is required, is Theories of Change. Written by experts working in the fields of sustainable finance, impact investing, development finance, carbon divesting, innovation, scaling finance, impact entrepreneurship, social stock exchanges, alternative currencies, Initial Coin Offerings (ICOs), ledger technologies, civil action, co-creation, impact management, deep learning and transformation leadership, the book begins by analysing existing Theories of Change frameworks from various disciplines and creating a new integrated model - the meta-framework. In turn, it presents insights on creating and using Theories of Change to redirect investment capital to sustainable companies while implementing the Sustainable Development Goals and the Paris Climate Agreement. Further, it discusses the perspective of planetary boundaries as defined by the Stockholm Resilience Institute, and investigates various aspects of systems, organizations, entrepreneurship, investment and finance that are closely tied to the mission ingrained in the Theory of Change. As it demonstrates, solutions that ensure the parity of profit, people and planet through dynamic change can effectively address the needs of entrepreneurs and business. By exploring these concepts and their application, the book helps create and shape new markets and opportunities.

The post-communist European countries have faced enormous political and economic problems in attempting the transformation to a market oriented economy through two of the most important channels influencing this process--privatization and foreign investments. Focusing on Russia, the Czech Republic, Hungary, Bulgaria, and Poland, the authors examine the trends toward privatization and the problems facing the countries economic managers and foreign investors. They explore what can be done to increase foreign direct and equity investment given the political risks involved in the economic transformation. Scholars and students of international economics, international trade, Russian and Eastern European studies, and government and international agencies should find this study on the relationship between privatization and foreign investment informative and useful.

Praise for InvestmentGuarantees

"In addition to being a valuable and innovative addition to the literature on risk management of equity-linked insurance, this book provides a uniquely clear demonstration of using different measures in a very practical context. A great way of showing actuaries how to ‘mind their Ps and Qs’!"
—Boris Brizeli
Principal and Chief Operations Officer
GE Insource Limited

"This is an extremely well written and comprehensive book which will be useful for both practitioners and graduate students. It provides a unique synthesis of techniques and tools in econometrics, financial engineering, and simulation applied to questions of fundamental importance in insurance."
—Dr. Andrew Cairns
Reader in Financial and Actuarial Mathematics
Heriot-Watt University

"Investment Guarantees will become the reference book of choice for both actuaries and non-actuaries alike working in the field of guarantees associated with equity-linked products. The book provides an excellent balance between theory and practice in the course of contrasting actuarial modeling and option pricing theory as applied to guarantees on equity-linked products."
—Larry M. Gorski
Life Actuary
Illinois Department of Insurance

"Professor Hardy strikes the right balance between theory development and practical demonstration, offering insights to both novices and experienced practitioners. Her comprehensive treatment of risk modeling of investment guarantees will benefit actuaries and financial engineers alike, allowing each to understand better the nature and management of equity exposure. Exceptionally readable, Investment Guarantees is an invaluable resource for insurance and financial professionals working with equity-linked insurance and annuity products."
—Geoffrey H. Hancock
Principal
Mercer Risk, Finance & Insurance Consulting

A straightforward, practical guide to the newest frontier in investment strategy—crypto—from #1 New York Times bestselling author and personal finance expert Ric Edelman. Blockchain and bitcoin are here to stay—and as the Bank of England stated, this new technology could “transform the global financial system.� No wonder PWC says blockchain technology will add $2 trillion to the world’s $80 trillion economy by 2030. Indeed, blockchain technology and the digital assets it makes possible are revolutionary, the most profound innovation for commerce since the invention of the internet. And yet, the average investor—and the investment advisors who manage two-thirds of all their money—aren’t aware of all this, or of the incredible investment opportunities now available. Fortunately, Ric Edelman, one of the most influential experts in the financial field, shows investors how they can engage and thrive in today’s new investment marketplace. Featuring the prophetic insights you’d expect from one of most acclaimed financial advisors, The Truth About Crypto is fun to read and easy to understand—and most importantly gives readers the sound, practical advice we all need to succeed with this new asset class. Best of all, Edelman shows how blockchain works, the difference between digital currency and digital assets, and a comprehensive look at every aspect of the field. This book is a must-read guide if you want to achieve investment success today.

An essential leadership guide for engaging the modern, socially responsible consumer. Consumers and investors have elevated their game. They have innovated. And now, leaders must innovate with them or face the consequences. In this engaging and persuasive guide to a brave new world of conscious capitalism, business expert Richard Steel details the inevitability of change in our profits-focused, perpetual-growth capitalist model. Our world economy has become increasingly values-driven, and consumers have begun to do the one thing the capitalist engines of the last 150 years have always feared: care. And not just about price, place, product, promotion, and people. The new P of business-purpose-was born from a dramatically informed, connected, and imperilled human race. With an eye toward the future of corporate sustainability, Elevated Economics provides leaders with: * crucial information on the rise of Environmental, Social, and corporate Governance (ESG) * informative, firsthand interviews with CEOs of successful corporations who actively follow the ESG model * the increasingly viable opportunities for Socially Responsible Investing (SRI) Steele maintains that ESG is not simply a burgeoning trend, and leaders must get on board or risk extinction

Venture capital (VC) refers to investments provided to early-stage, innovative, and high growth start-up companies. A common characteristic of all venture capital investments is that investee companies do not have cash flows to pay interest on debt or dividends on equity. Rather, investments are made with a view towards capital gain on exit. The most sought after exit routes are an initial public offering (IPO), where a company lists on a stock exchange for the first time, and an acquisition exit (trade sale), where the company is sold in entirety to another company. However, VCs often exit their investments by secondary sales, wherein the entrepreneur retains his or her share but the VC sells to another company or investor buybacks, where the entrepreneur repurchases the VCs interest and write-offs (liquidations).
The Oxford Handbook of Venture Capital provides a comprehensive picture of all the issues dealing with the structure, governance, and performance of venture capital from a global perspective. The handbook comprises contributions from 55 authors currently based in 12 different countries.