For investors from across the world, UK residential property is seen as one of the best investments available. This is for good reason. It has a track record of delivering strong, stable returns in a way that is relatively easy to understand and implement. The trouble is, the market has changed. The investors of the future value sustainability more than ever before. There is unprecedented and growing demand for Environmental Social and Governance (ESG) investing, now worth $30 trillion in Assets Under Management each year, around a quarter of all professionally managed assets. The traditional goal of profit maximisation is being replaced. Investments must increasingly be profitable as well as sustainable: economically resilient with positive ESG metrics. Yet the UK residential property market - worth over GBP7.5 trillion - is lagging behind. There is very little clear, easily usable guidance for those responsible for a huge proportion of the market: private investors. The positive impacts of sustainable property investing - for profit-motivated investors, people and the planet - could be huge. The financial, environmental and social costs of getting it wrong could be catastrophic. To get this right and to avoid the risks of getting it wrong, it is vital to understand: * What sustainable residential property investing is * What needs to change and * How, on a practical level, you can invest in a way that is both profitable and sustainable. This book draws on expertise from within and beyond real estate, provides a simple framework for updating your approach. It highlights common mistakes and shares advice so that you can avoid them. Ultimately, it's about answering the question of the decade: 'How can I invest profitably with positive impacts?'

A detailed guide to the discipline of corporate valuation

Designed for the professional investor who is building an investment portfolio that includes equity, "Corporate Valuation for Portfolio Investment" takes you through a range of approaches, including those primarily based on assets, earnings, cash flow, and securities prices, as well as hybrid techniques.

Along the way, it discusses the importance of qualitative measures such as governance, which go well beyond generally accepted accounting principles and international financial reporting standards, and addresses a variety of special situations in the life cycle of businesses, including initial public offerings and bankruptcies. Engaging and informative, "Corporate Valuation for Portfolio Investment" also contains formulas, checklists, and models that the authors, or other experts, have found useful in making equity investments.Presents more than a dozen hybrid approaches to valuation, explaining their relevance to different types of investorsCharts stock market trends, both verbally and visually, enabling investors to think like traders when neededOffers valuation guidance based on less quantitative factors, namely management quality and factors relating to the company and the economy

"Corporate Valuation for Portfolio Investment" puts this dynamic discipline in perspective and presents proven ways to determine the value of corporate equity securities for the purpose of portfolio investment.

"Once I picked it up I did not put it down until I finished . . . What Schwed has done is capture fully—in deceptively clean language—the lunacy at the heart of the investment business."—From the Foreword by Michael Lewis, Bestselling author of Liar's Poker

This hilarious portrait of everyday Wall Street and its denizens rings as true today as it did when it was first published in 1940. Writing with a rare mixture of wry cynicism and bonhomie reminiscent of Mark Twain and H. L. Mencken, Fred Schwed, Jr., skewers everyone including himself in his brilliant send-ups of bankers, brokers, traders, investors, analysts, and hapless customers.

Critical Praise . . .

"How great to have a reissue of a hilarious classic that proves the more things change the more they stay the same. Only the names have been changed to protect the innocent."—Michael Bloomberg, President, Bloomberg, LP

". . . one of the funniest books ever written about Wall Street."—Jane Bryant Quinn, The Washington Post

"It's amazing how well Schwed's book is holding up after 55 years. About the only thing that's changed on Wall Street is that computers have replaced pencils and graph paper. Otherwise, the basics are the same. The investor's need to believe somebody is matched by the financial advisor's need to make a nice living. If one of them has to be disappointed, it's bound to be the former."—John Rothchild, Author, A Fool and His Money Financial Columnist, Time magazine

"Where Are the C-C-Customers' Yachts? is a g-g-great read."—Charles Ellis, Managing Partner, Greenwich Associates

"A delightful classic and reminder of excesses past and how little things change."—Bob Farrell, Senior Vice President, Merrill Lynch

Where Are the Customers' Yachts?

"'Wall Street,' reads the sinister old gag, 'is a street with a river at one end and a graveyard at the other.'

This is striking, but incomplete. It omits the kindergarten in the middle, and that's what this book is about." —Fred Schwed, Jr.

Written by Fred Schwed, Jr., a professional trader who had the good sense to get out after losing a bundle in the crash of 1929, this hilarious portrait of Wall Street and its denizens rings as true today as it did when it was first published in 1940. Writing with a rare mixture of wry cynicism and bonhomie reminiscent of Mark Twain and H. L. Mencken, Schwed skewers everyone including himself in his vivid depictions of the bankers, brokers, traders, investors, analysts, and hapless customers.

Just listen to his take on the conservative banker:

The conservative banker is an impressive specimen. In times of stress, when everybody needs money, he strives to avoid lending, but usually makes an exception to the United States government. Likewise, in prosperous times, he is a mighty liberal lender—so liberal that years later unfriendly committees ask him what he thought he was thinking about, and he is unable to remember.

. . . or his witty assessment of technical analysis:

It is the popular feeling on Wall Street that chart readers are pretty occult professionals but that somehow most of them are broke. "If you have the bad taste to ask [one] how it happens that he is broke, he tells you quite ingenuously that he made the all too human error of not believing his own charts."

It's easy to see why, more than a half-century after it first appeared, Where Are the Customers' Yachts? continues to be hailed by market insiders as the funniest and most penetrating send-up of Wall Street ever penned.

Provides practical, comprehensive information and strategies for using managed futures successfully. Clearly explains the benefits of managed futures and their role in a traditional portfolio. Uses case studies and firsthand reports to show how corporations are using managed futures. Written by over a dozen top experts in the fields of futures fund and portfolio management.

The papers and discussions in this volume were presented in a conference held at the Brookings Institution in November 1963 to explore the problems of appraising the benefits that are likely to accrue from proposed public investment projects. To throw light on this question from several directions, papers were commissioned to deal with it in seven contexts: research and development expenditures, outdoor recreation projects, education programs, federal aviation expenditures, highway programs, urban renewal projects, and public health programs.

"The Science of Algorithmic Trading and Portfolio Management," with its emphasis on algorithmic trading processes and current trading models, sits apart from others of its kind. Robert Kissell, the first author to discuss algorithmic trading across the various asset classes, provides key insights into ways to develop, test, and build trading algorithms. Readers learn how to evaluate market impact models and assess performance across algorithms, traders, and brokers, and acquire the knowledge to implement electronic trading systems.

This valuable book summarizes market structure, the formation of prices, and how different participants interact with one another, including bluffing, speculating, and gambling. Readers learn the underlying details and mathematics of customized trading algorithms, as well as advanced modeling techniques to improve profitability through algorithmic trading and appropriate risk management techniques. Portfolio management topics, including quant factors and black box models, are discussed, and an accompanying website includes examples, data sets supplementing exercises in the book, and large projects.
Prepares readers to evaluate market impact models and assess performance across algorithms, traders, and brokers.
Helps readers design systems to manage algorithmic risk and dark pool uncertainty.Summarizes an algorithmic decision making framework to ensure consistency between investment objectives and trading objectives.

Behavioral Finance helps investors understand unusual asset prices and empirical observations originating out of capital markets. At its core, this field of study aids investors in navigating complex psychological trappings in market behavior and making smarter investment decisions. Behavioral Finance and Capital Markets reveals the main foundations underpinning neoclassical capital market and asset pricing theory, as filtered through the lens of behavioral finance. Szyszka presents and classifies many of the dynamic arguments being made in the current literature on the topic through the use of a new, ground-breaking methodology termed: the General Behavioral Asset Pricing Model (GBM). GBM describes how asset prices are influenced by various behavioral heuristics and how these prices deviate from fundamental values due to irrational behavior on the part of investors. The connection between psychological factors responsible for irrational behavior and market pricing anomalies is featured extensively throughout the text. Alternative explanations for various theoretical and empirical market puzzles - such as the 2008 U.S. financial crisis - are also discussed in a convincing and interesting manner. The book also provides interesting insights into behavioral aspects of corporate finance.

Revered by many, reviled by some, technical analysis is the art and science of deciphering price activity to better understand market behavior and identify trading opportunities. In this accessible guide, Jack Schwager—perhaps the most recognized and respected name in the field—demystifies technical analysis for beginning investors, clearly explaining such basics as trends, trading ranges, chart patterns, stops, entry, and exit and pyramiding approaches. The book's numerous examples and clear, simple explanations provide a solid framework for using technical analysis to make better, more informed investment decisions and as the basis for mechanical trading systems. Along with Schwager's invaluable trading rules and market observations culled from years of real-world trading experience, Getting Started in Technical Analysis offers in-depth coverage of:

• Types of charts—bar, close-only, point-and-figure, candlestick.
• Chart patterns—one-day, continuation, top and bottom formations, the importance of failed signals.
• Trading systems—trend-following, counter-trend, pattern recognition.
• Charting and analysis software—price data issues, time frame/trading style considerations, software research.
• he planned trading approach—trading philosophy, choosing markets, risk control strategies, establishing a trading routine.

China has developed a piecemeal pattern of regulating foreign investment since the end of 1970s. The latest law is the Foreign Investment Law (FIL), which became effective on 1 January 2020. The groundbreaking new FIL is well acknowledged for its promises and affirmations pledged to investors, signalling China's eagerness to improve its investment environment and regain momentum for investment growth. This book provides an updated and holistic understanding of the key features of the regulatory regime on foreign investment in China with critical analysis of laws and their implementation. It also examines sensitive and complex legal issues relevant to foreign investment beyond the 2020 FIL and new developments on foreign-related dispute settlement. The book uses cases of success and failure to illustrate the nuances and differences between law and practice regarding foreign investment. Considering China's magnitude in the global economy and the weighty role of the regulatory system on foreign investment in China, this book is of great interest to a wide range of audience including academics in the field of investment law, legal practitioners, policymakers, and master's students in law and in management.

Introduces the reader to terms and nomenclature used in the field. Surveys the link between sustainability and performance (including risk). Details the integration of sustainable criteria in complex portfolio optimization. Reviews the financial liabilities induced by climate change.

Outlining the different types of financial crime and their impact, this book is a user-friendly, up-to-date guide to the regulatory processes, systems and legislation which exist in the UK. Each chapter has a similar structure and covers individual financial crimes including money laundering, terrorist financing, fraud, insider dealing, market abuse, bribery and corruption and finally tax avoidance and evasion. Offences are summarized and their extent is evaluated using national and international documents. Detailed assessments of financial institutions and regulatory bodies are made and the achievements of these institutions are analysed. Sentencing and policy options for different financial crimes are included and suggestions are made as to how criminal proceeds might be recovered. This third edition has been fully updated and includes a new chapter on corporate financial crime.

Outlining the different types of financial crime and their impact, this book is a user-friendly, up-to-date guide to the regulatory processes, systems and legislation which exist in the UK. Each chapter has a similar structure and covers individual financial crimes including money laundering, terrorist financing, fraud, insider dealing, market abuse, bribery and corruption and finally tax avoidance and evasion. Offences are summarized and their extent is evaluated using national and international documents. Detailed assessments of financial institutions and regulatory bodies are made and the achievements of these institutions are analysed. Sentencing and policy options for different financial crimes are included and suggestions are made as to how criminal proceeds might be recovered. This third edition has been fully updated and includes a new chapter on corporate financial crime.

Praise for Competing for Capital

"An indispensable guide for investor relations and communication counselors alike. With more individual investors in the market than ever before, this book makes navigating the new regulatory playing field much more possible--and makes clear the path to victory."
--Michael W. Robinson
Director, Levick Strategic Communications; Former Director of Public Affairs and Policy, U.S. Securities and Exchange Commission (SEC); Director of Media Relations, NASD

"More than simply writing a textbook on IR, Bruce Marcus shares his wealth of experience and critical viewpoint with those seeking to understand a fast-changing profession."
--June Filingeri
President of Comm-Partners LLC, Investor Relations Consultant, and Educator

"Bruce Marcus puts some solid ground under the shifting landscape of being an investor relations professional. A must-read primer for public companies."
--Robert C. Roeper
Managing Director, VIMAC Ventures, LLC

"As the song lyrics go, 'everything old is new again, ' but this time with a vengeance. Disclosure has always been the touchstone of securities laws, but now more disclosure is required on a real-time basis with heightened accountability. Competing for Capital is a must-read for those in the securities industry, providing insights into securities markets, the information age and technology, and their impact on the job of investor relations professionals. Investors come in all shapes and sizes from around the globe, and investor relations personnel have their work cut out for them to provide clear, comprehensible, and comprehensive information, accessible to the novice and sophisticate alike. Competingfor Capital shows them the way."
--Donna L. Brooks, Esq.
Partner, Shipman & Goodwin, LLP

"Competing for Capital puts our recent turbulent financial marketplace in context, provides solid information for both new and experienced investor relations practitioners, and offers insights into the future of IR--all in Bruce Marcus's easy-reading style."
--Dixie Watterson
IR consultant, Communica Partners

"Competing for Capital aptly illustrates how investor relations has become a major corporate responsibility in generating trust, and how the profession must realize now more than ever that the needs of investors have changed because of technology, regulation, and globalization."
--Mark Kollar
Managing Director, Cubitt Jacobs & Prosek

The inventive process is the most important driver of economic growth. Venture capital (VC) funds have contributed a small, but critical, part to the inventive process. VC funds boost the inventive process by selecting a small number of radical ideas out a large flow of ideas and invest in their testing, development and commercialization. They bring together capital from general savings, management capabilities and business experience. When successful, VC-backed companies can contribute substantially to the welfare of society. In this book, VC funds are discussed in the context of macroeconomics, industrial organization, financial intermediation and financial economics. The authors adopt a comprehensive overview to provide clearer insight into the role of VC funds in the capital market and the way they operate.

He was a self-made millionaire and legendary stock trader, a brilliant investor and savvy venture capitalist. He was Bernard M. Baruch, the most famous and admired figure ever to have conquered Wall Street. And when one of the nation's foremost financial writers took on the challenge of capturing Baruch's genius, the result was destined to become a classic: a sophisticated, superbly written biography exploring Baruch's extraordinary career as never before. Now, this stunning republication of James Grant's critically acclaimed Bernard Baruch: The Adventures of a Wall Street Legend celebrates both the Wall Street wizard and the gifted writer who revealed the man behind the myth.

A man of immense charm, who also knew the value of courting the press, Bernard Baruch enjoyed a larger-than-life reputation that rivaled his estimated fortune. Celebrated as "Adviser to Presidents" and "The Park Bench Statesman," he is, perhaps, best remembered as "The Man Who Sold Out Before the Crash" (a feat of economic foresight that, alas, turned out not to be true; for, while his trading expertise enabled him to salvage most of his investments, Baruch did not sell out on the eve of the 1929 Crash).

Yet, as detailed in this fascinating portrait, Baruch's real life was, in actuality, far more intriguing than the myriad stories that would come to be taken as fact. He could appear quite contradictory, changing his views as easily as he bought and sold securities. For instance, why would so shrewd an investor as Bernard Baruch prove reluctant to develop a property like Texasgulf, Inc., after helping to finance it? It was a decision that cost him an opportunity to make as much money as his adoring public always imagined him to have.

Bernard Baruch made his money in the days of free and untaxed markets. As a governor of the New York Stock Exchange, he resisted the Progressive Era demand for government regulation of trading. However, as Chairman of the War Industries Board in 1918, he eagerly embraced a kind of wartime socialism, thereby setting the first American precedent for centralized economic planning. During the 1920s, '30s and '40s, he vehemently opposed America's drift to statism, even as he supported the politicians who had engineered it. He was, in fact, one of the Democratic party's top contributors —until he bitterly broke with President Truman.

James Grant's scrupulous research uncovered a wealth of previously untapped material from the archives of the New York Stock Exchange, unpublished legal documents, Baruch's own trading records, and the early files of Texasgulf. We read startling details of events such as the infamous "peace-note leak" investigation of 1917, in which Baruch was accused of profiting on the unauthorized disclosure of state papers; his controversial career in Washington in 1918 and at the Versailles Peace Conference in 1919; his vital, behind-the-scenes role in the politics of the 1920s. Here, too, is Baruch's curious, often embittered relations with the New Deal, as well as his service as American ambassador to the postwar negotiations to control the atomic bomb.

Masterfully written, Bernard Baruch is a richly rewarding, full-scale biography every bit as compelling, as mesmerizing, as monumental as its legendary subject.

Praise for Bernard baruch

The Adventures of a Wall Street Legend

"Fortunately, the fallible, erratic Baruch of fact that emerges from Grant's book turns out to be more fascinating than the blander one of legend." —Tony Bianco, BusinessWeek

"Grant paints a wonderfully evocative social, geographical, and financial portrait of Wall Street during those early rough and tumble years." —Nancy Boardman, Barron's

"With extraordinary skill, James Grant cuts Baruch down to a human dimension without destroying the myths and the legends. This is a book for anyone who enjoys a good read in biography, in history, in finance, or in politics—or, even better, in all of them combined." —Peter L. Bernstein, author of Against the Gods: The Remarkable Story of Risk

"Anyone who reads Bernard Baruch: The Adventures of a Wall Street Legend will discover why James Grant has become our finest narrative historian of money. No one dissects the idiosyncrasies of supply and demand with greater wit and intelligence. While Baruch has had many biographers, none of them have attained Grant's aesthetic sensibility, understanding of finance, or his inability to be more respecting than respectable." —Matthew Winkler, Editor in Chief, Bloomberg Business News

"Similar to Reminiscences of a Stock Operator, only all fact, is James Grant's excellent biography, Bernard Baruch. Not only does it cover such great moments as when Baruch visited the Tacoma suburb of Boston to acquire the copper mill for American Smelting, but all sorts of sophisticated dealings on Wall Street. It also contains Baruch's set of trading tips." —Greg Heberlein, The Seattle Times

An informative guide to selecting and evaluating external investment professionals
This book-one of the very few of its kind-is an invaluable aid to trustees of pension plans, endowments, and trusts who seek to chart and navigate courses for governing and overseeing the investment of the trillions of dollars under their care. It covers many aspects of this essential endeavor, including return measures, fixed income and duration, manager searches, committee meetings, and much more.
G. Timothy Haight (Atherton, CA) is President of Menlo College in Silicon Valley. Stephen O. Morrell, PhD (Coral Springs, FL) is Professor at Andreas School of Business of Barry University. Glenn Ross (Baltimore, MD) is a Managing Director and cofounder of Archstone Portfolio Solutions.

The Front Office Manual is unique, providing clear and direct explanations of tools and techniques relevant to front office work. From how to build a yield curve, to how a swap works, to what exactly 'product control' is supposed to do, this book is essential reading for anyone who works (or wants to work) on the 'sell side'.

Praise for "Equity Hybrid Derivatives"

"Hybrids represent the fastest growing segment in the derivatives business. Written by perhaps the finest quant shop in the world, this book presents the state of the art in modeling equity hybrid derivatives."
--Peter Carr, PhD, Head of Quantitative Financial Research Bloomberg L.P., New York, and Director of the Masters in Math Finance Program, Courant Institute, New York University

"This is a unique book. It is a deep and sophisticated treatment of equity hybrids: the products, the models, the mathematics, and the numerics. Anyone with a serious interest in the market will need this book."
--Dr. Nick Webber, Director of the Financial Options Research Centre, University of Warwick

"The Quantitative Products Group of Deutsche Bank continues the study of the latest generation of equity derivatives with the same talent as in its previous books. The market has integrated a wide range of new asset classes such as realized volatility, hedge fund strategy, or hybrid structures in fixed income-equity and equity-credit, which are now booming. These hybrid products have also generated new numerical problems both for PDEs or Monte Carlo methods. To offer both a concise presentation of the risk analysis and a comprehensive overview of the pricing and hedging methodology of these complex exotic structures was a great challenge; I must say that I am very impressed by the result."
--Professor Nicole El-Karoui, Ecole Polytechnique Paris

"This is an excellent book on equity hybrid derivatives, written from the practitioner's point of view by a leading quant team. It provides a comprehensive overview of state-of-the-art methodologycombined with cutting-edge research in mathematical finance. The book is a most valuable read both for academics and practitioners."
--Professor Alexander Schied, Berlin University of Technology

How to diagnose and monitor key hedge fund operational risks

With the various scandals taking place with hedge funds, now more than ever, both financial and operational risks must be examined. Revealing how to effectively detect and evaluate often-overlooked operational risk factors in hedge funds, such as multi-jurisdictional regulatory coordination, organizational nesting, and vaporware, "Hedge Fund Operational Due Diligence" includes real-world examples drawn from the author's experiences dealing with the operational risks of a global platform of over 80 hedge funds, funds
of hedge funds, private equity, and real estate managers.

This is the first book of its kind on the market and is aimed at collateral management professionals in the OTC derivatives markets. It is a guide to the key topics involved in establishing and running a collateral management function and is clear, comprehensive and practical. A Practical Guide to Collateral Management will also be of value to those professionals working in product areas applying collateral management techniques including repo, securities lending and exchange traded products.

Divided into three comprehensive parts, "Trade to Win" explains the fundamental elements of author Thomas Busby's proven trading approach-which deals with the significance and use of time, key numbers, and market indicators. Along the way, you'll find strategies for trading stocks, options, futures, and other financial products, and go beyond the numbers to learn about a few of the often overlooked aspects of trading-including risk management, money management, and the impact of emotions on your trading.

Get ahead of emerging markets with top-performer picks for up-and-comers Frontier helps investors successfully navigate markets that are yet to emerge, with expert advice on spotting opportunities and minimising risks. With first-hand insights into frontier markets as we travel with big-name fund managers from Mark Mobius to Morgan Stanley, this practical guide ranks countries, stocks and bonds on a five- to ten-year horizon to steer investors toward the most promising destinations. Written in a compelling and accessible travelogue narrative, each chapter covers a specific country, providing invaluable market analysis and a deep understanding of the political, economic, and social background of those most likely to outperform. The key focus is on fresh ideas, based on the assessments from top performing money managers when meeting challenges, hostilities or adversity, and observations after interviewing high-level government officials and executives. With advanced economies shackled by debt and sluggish growth, investors are increasingly turning to emerging markets for better returns. Yet the money managers who came out on top in China, India, and Brazil are now focusing their attention on markets that have not yet emerged. This book applies the perspective of ten of the most successful fund managers in their field, providing an unparalleled guide to assessing investment potential in places better known for conflict, poverty and corruption. * Discover which markets have the best prospects, and which are potential disasters * Analyse individual markets by metrics including macro data, global relative value comparisons of stocks and bonds, buy/ sell triggers, and more * Learn which industries, stocks and bonds should be considered in each market * Examine each country through real-life on-the-ground assessment of corruption, conflict and other risks as well as inspirational breakthroughs that signal opportunities This is a practical manual for all investors - whether students or professionals - wanting to get to know the most promising new markets while avoiding the pitfalls. A must-read for corporate executives seeking global capital, Frontier provides a better understanding of the changing international investment dynamic. Robin Wigglesworth, FT: Invaluable. Mark Mobius, Templeton: I love it! Beautiful descriptive writing. Aliko Dangote, Wealthiest African: Captivating tales, masterly woven.

Market players put their jobs on the line with every position they take. Any fixed income investor in the circumstance of being granted one wish would probably want to know what interest rates are going to do in the future. Economists and others have constructed models of interest rate behaviour, but no model works in all circumstances.

Fixed Income Investment aims to straddle the different worlds of theoretical models and practical market experience, while offering an interdisciplinary framework for fixed income investing and trading.

* A focussed but very practical approach to fixed-income investment, aimed at practitioner market
* Contains investment checklists and interviews with market practitioners
* Offers an interdisciplinary framework for fixed-income investing and trading, and combines worlds of theoretical models and practical market experience

This book investigates the going-concern principle in the non-financial disclosure by companies in the international scenario proposing concepts and challenges to come. Following the main accounting literature, requirements and regulations, this book proposes the current state of the art in the non-financial disclosure, collecting main mandatory and voluntary frameworks and standards (e.g. European Directive 2014/95/UE on non-financial information, Global Reporting Initiative, International Integrated Reporting Council, Sustainability Accounting Standards Board, Climate Disclosure Standard Board, Carbon Disclosure Project, AA1000). This is a useful proposition for the investigation of the presence versus absence of the going concern in the sustainability and non-financial reports and disclosure by companies. Through a qualitative methodology, this book is intended to show the incidence of the going-concern in the non-financial disclosure and to what content and meaning it is refereed. Several issues and characteristics of information provided to stakeholders are drafted.

This book will satisfy the demand among college majors in Finance and Financial Engineering, and mathematically-versed practitioners for description of both the classical approaches to equity investing and new investment strategies scattered in the periodic literature. Besides the major portfolio management theories (mean variance theory, CAPM, and APT), the book addresses several important topics: portfolio diversification, optimal ESG portfolios, factor models (smart betas), robust portfolio optimization, risk-based asset allocation, statistical arbitrage, alternative data based investing, back-testing of trading strategies, modern market microstructure, algorithmic trading, and agent-based modeling of financial markets. The book also includes the basic elements of time series analysis in the Appendix for self-contained presentation of the material. While the book covers technical concepts and models, it will not overburden the reader with math beyond the Finance undergraduates' curriculum.