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Books > Business & Economics > Finance & accounting > Finance > Investment & securities > General
Headed by Bernstein, the quantitative equity and equity derivatives strategies group at Merrill Lynch is noted for their proprietary research on market segmentation and style investing. In this book, he highlights the macroeconomic, microeconomic and expectational factors that can affect equity market segment performance. The first section focuses on the definition and identification of market segments and reviews the major equity market segments that concern today's institutional investors. Part two analyzes the historical result of each segment of style strategy within the context of the economic and expectational framework. Lastly, it describes current issues and problems in equity markets and their implications for pension plan sponsors.
In Artificial Intelligence in Finance and Investing, authors Robert
Trippi and Jae Lee explain this fascinating new technology in terms
that portfolio managers, institutional investors, investment
analysis, and information systems professionals can understand.
Using real-life examples and a practical approach, this rare and
readable volume discusses the entire field of artificial
intelligence of relevance to investing, so that readers can realize
the benefits and evaluate the features of existing or proposed
systems, and ultimately construct their own systems. Topics include
using Expert Systems for Asset Allocation, Timing Decisions,
Pattern Recognition, and Risk Assessment; overview of Popular
Knowledge-Based Systems; construction of Synergistic Rule Bases for
Securities Selection; incorporating the Markowitz Portfolio
Optimization Model into Knowledge-Based Systems; Bayesian Theory
and Fuzzy Logic System Components; Machine Learning in Portfolio
Selection and Investment Timing, including Pattern-Based Learning
and Fenetic Algorithms; and Neural Network-Based Systems. To
illustrate the concepts presented in the book, the authors conclude
with a valuable practice session and analysis of a typical
knowledge-based system for investment management, K-FOLIO. For
those who want to stay on the cutting edge of the "application"
revolution, Artificial Intelligence in Finance and Investing offers
a pragmatic introduction to the use of knowledge-based systems in
securities selection and portfolio management.
The OTC derivatives market has been hit by a massive wave of
regulatory change. Capital and margin requirements have increased,
trade reporting has been mandated, and execution mechanisms are
evolving. Most of all, central clearing is being imposed for many
transactions.
"OTC Derivatives: Bilateral Trading and Central Clearing" explains
the new rules and the new models. It discusses the traditional
bilateral market, then sets out how this will change due to
mandatory central clearing and the new ways in which OTC
derivatives will have to be traded, reported, and processed. The
risks of OTC derivatives clearing houses are discussed in detail,
as are the protections that CCPs have against these risks. The book
also looks at alternatives to some of the policy decisions that
have been made, showing the balance between costs and benefits of
various different approaches to derivatives market stability. The
book is both a detailed primer on OTC derivatives clearing and a
powerful insight into post-crisis financial regulation.
Key features of the book include:
- A discussion of the capital rules for OTC derivatives
counterparty credit risk in Basel III;
- An account of OTC derivatives trade processing in both bilateral
and cleared markets;
- A detailed account of the risk profile of OTC derivatives
CCPs;
- An explanation of the risks run in various collateral segregation
models; and
- A comparison of various macro-prudential tools for enhancing the
financial stability of OTC derivatives markets.
How did a world-famous dancer with no knowledge of the stock
market, or of finance in general, make 2 million dollars in the
stock market in 18 months starting with only $10,000? Darvas is
legendary, and with good reason. Find out why.
This book provides a comprehensive analysis of the effects that
foreign direct investment into China has had on the productivity,
exporting activity, and innovation of Chinese domestic firms, as
well as on the nation's labor markets. The analysis relies on the
most complete data available and state-of-the-art statistical
analysis. The book also includes a critical overview of existing
theoretical and empirical literature on these issues and is meant
to provide guidance to researchers in the area of FDI effects in
general, as well as those interested in studying the Chinese
economy.
Even after repeated boom and bust cycles on Wall Street, it's still
possible to make real money in the stock market--provided investors
take a disciplined approach to investing. Financial guru Jim Cramer
shows how ordinary investors can prosper, no matter the climate on
Wall Street.
How do we find hot stocks without getting burned? How do we fatten
our portfolios and stay financially healthy? Former hedge-fund
manager and longtime Wall Street commentator Jim Cramer explains
how to invest wisely in chaotic times, and he does so in plain
English in a style that is as much fun as investing is--or should
be, when it's done right.
For starters, Cramer recommends devoting a portion of your assets
to speculation. Everyone wants to find the big winners that can
bring outsized gains, and Cramer explains how to allocate your
portfolio so that you can afford to take this kind of risk wisely.
He explains why "buy and hold" is a losing philosophy: For Cramer,
it's "buy and homework." If you can't spend an hour a week
researching each of your stocks, then you should hand off your
portfolio to a mutual fund--and Cramer identifies the very few
mutual funds that he'd recommend.
Cramer reveals his Ten Commandments of Trading (Commandment #5:
Tips are for waiters). He explains why he's not afraid to compare
investing to gambling (and tells you which book on gambling you
should read to become a better investor). He discloses his
Twenty-Five Rules of Investing (Rule #4: Look for broken stocks,
not broken companies).
Cramer shows how to compare stock prices in a way that you can
understand, how to spot market tops and bottoms, how to know when
to sell, how to rotate among cyclical stocks to catch the big
moves, and much more. "Jim Cramer's Real Money" is filled with
insider advice that really works, information that Cramer himself
used to make millions during his fourteen-year career on Wall
Street.
Written in Cramer's distinctive turbocharged style, this is every
investor's guide to what you really must know to make big money in
the stock market.
This book discusses capital markets and investment decision-making,
focusing on the globalisation of the world economy. It presents
empirically tested results from Indian and Southwest Asian stock
markets and offers valuable insights into the working of Indian
capital markets. The book is divided into four parts: the first
part examines capital-market operations, particularly clearance and
settlement processes, and stock market operations. The second part
then addresses the functioning of global markets and investment
decisions; more specifically it explores calendar anomalies,
dependencies, overreaction effect, causality effect and stock
returns volatility in South Asia, U.S. and global stock markets as
a whole. Part three covers issues relating to capital structure,
values of firm and investment strategies. Lastly, part four
discusses emerging issues in finance like behavioral finance,
Islamic finance, and international financial reporting standards.
The book fills the gap in the existing finance literature and helps
fund managers and individual investors make more accurate
investment decisions.
This book analyzes the post-subprime crisis world from the global,
Asian and Chinese perspectives. It dispels some of the myths about
the crisis's effects on Asia and China; and exposes the ugly truth
of bailout policies and their distortion and hindering of the
world's economic rebalancing effort in the post-subprime era.
This book provides a basic grounding in the use of probability to
model random financial phenomena of uncertainty, and is targeted at
an advanced undergraduate and graduate level. It should appeal to
finance students looking for a firm theoretical guide to the deep
end of derivatives and investments. Bankers and finance
professionals in the fields of investments, derivatives, and risk
management should also find the book useful in bringing probability
and finance together. The book contains applications of both
discrete time theory and continuous time mathematics, and is
extensive in scope. Distribution theory, conditional probability,
and conditional expectation are covered comprehensively, and
applications to modeling state space securities under market
equilibrium are made. Martingale is studied, leading to
consideration of equivalent martingale measures, fundamental
theorems of asset pricing, change of numeraire and discounting,
risk-adjusted and forward-neutral measures, minimal and maximal
prices of contingent claims, Markovian models, and the existence of
martingale measures preserving the Markov property. Discrete
stochastic calculus and multiperiod models leading to no-arbitrage
pricing of contingent claims are also to be found in this book, as
well as the theory of Markov Chains and appropriate applications in
credit modeling. Measure-theoretic probability, moments,
characteristic functions, inequalities, and central limit theorems
are examined. The theory of risk aversion and utility, and ideas of
risk premia are considered. Other application topics include
optimal consumption and investment problems and interest rate
theory.
As an asset manager or pension trustee, you should worry less about
the stocks and products you pick for your clients and more about
getting your fundamental investment beliefs right.
After a steep decline in the global stock markets and a recovery
that is still uncertain, it is simply is not enough to have a good
organization, good staff and a well-defined mission. You need to
formulate your own set of investment beliefs: a clear view on how
you perceive the way capital markets work and how your fund can add
value and strive for excellence. Funds which establish and
implement a well-defined investment philosophy have been shown to
earn consistently better results.
This practical book provides the framework for determining your own
investment beliefs and guidance on how to imbed, communicate and
monitor them. Its research is based on a survey of the world's
leading fund managers, viewed as excellent companies in the asset
management industry. The book includes a speed-read summary at the
start of each chapter, useful checklists, and case-studies spanning
organizations from a variety of different countries and industries.
It also provides a timely overview of the major debates in the
industry and an introduction to the issues that matter for
long-term survival in financial markets
With investment beliefs firmly in place, you will be able to more
easily navigate the investment options available, knowing that your
choices and decisions are in accordance with your values and
objectives. Successful implementation of investment beliefs might
well be one of the decisive factors in becoming a winner or loser
in the investment management industry in 2020.
WHAT EVERY OPTION TRADER NEEDS TO KNOW. THE ONE BOOK EVERY TRADER
SHOULD OWN.The bestselling Option Volatility & Pricing has made
Sheldon Natenberg a widely recognized authority in the option
industry. At firms around the world, the text is often the first
book that new professional traders aregiven to learn the trading
strategies and risk management techniques required for success in
option markets. Now, in this revised, updated, and expanded second
edition, this thirty-year trading professional presents the most
comprehensive guide to advanced trading strategies and techniques
now in print. Covering a wide range of topics as diverse and
exciting as the marketitself, this text enables both new and
experiencedtraders to delve in detail into the many aspects of
option markets, including: The foundations of option theoryDynamic
hedgingVolatility and directional trading strategiesRisk
analysisPosition managementStock index futures and
optionsVolatility contracts Clear, concise, and comprehensive, the
second edition of Option Volatility & Pricing is sure to be an
important addition to every option trader's library--as invaluable
as Natenberg's acclaimed seminars at the world'slargest derivatives
exchanges and trading firms. You'll learn how professional option
traders approach the market, including the trading strategies and
risk management techniques necessary for success. You'll gain
afuller understanding of how theoretical pricing models work. And,
best of all, you'll learn how to apply the principles of option
evaluation to create strategies that, given a trader's assessment
of market conditions and trends, have the greatest chance of
success. Option trading is both a science and an art. This book
shows how to apply both to maximum effect.
As financial markets expand globally in response to economic and
technological developments of the twenty-first century, our
understanding and expectations of the people involved in these
markets also change. Unmasking Financial Psychopaths suggests that
an increasing number of financiers labeled "financial psychopaths"
are not truly psychopathic, but instead are by-products of a
rapidly changing personal and professional environment. Advances
have been made in identifying psychopaths outside of situations
accompanied by physical violence, yet it is still difficult to
differentiate psychopaths in cultural settings that have adopted
psychopathic behavioral tendencies as the norm. Within the
investment sector, a fundamental transformation has occurred: the
type of person employed by financial firms and the environment
within which finance is conducted have both changed. Society's
expectation of financiers adapted to these subtle,
behind-the-scenes shifts, resulting the public at large perceiving
more individuals in the financial sector as acting in a
psychopathic manner. Being able to distinguish the truly
psychopathic financier from individuals who conform to behavioral
expectations is the first step towards a cultural shift away from
accepted psychopathic behaviors in the financial sector.
"Swing trading is one of the hottest–and most effective–tools for today’s active traders, and John Crane brings a fresh new perspective and a true trading edge to this important concept." –Jonathan Dean, Vice President, FutureSource "We’ve long touted the benefits of this powerful investment strategy at MrSwing.com, and John Crane’s new work makes an excellent addition to the body of educational material available on swing trading. His cutting-edge techniques are right on the money." –Larry Swing, MrSwing.com In Advanced Swing Trading, John Crane, a veteran trader and cofounder of Traders Network, discusses his work with Action/Reaction trading theory, and illustrates a whole new way of using time, price, and patterns to predict, identify, and trade future market swings. Chapter by informative chapter, you’ll be introduced to the concepts that encompass this proven method, including: - Market behavior
- Reaction swings
- Swing trading reaction swings
- The Reaction cycle
- Action and reaction lines
- Entering and exiting trades
- Reversal dates
- Long-term versus short-term trends
- And much more
Filled with practical advice from a seasoned veteran, real-world examples, and informative charts and graphs, Advanced Swing Trading provides a comprehensive look at the art of swing trading. This valuable book offers clear, step-by-step guidance that will allow you to apply the swing trading methodology to any portfolio and improve your bottom line.
In this witty, eye-opening guide, Certified Financial Planner and
Chartered Mutual Fund Counselor Rick Johnson shares his
no-holds-barred approach to investing. Drawing on more than twenty
years of experience in financial services, he shows hard-working
Americans how to design successful investment portfolios and build
financial strategies that are fully aligned with their personal
values and life goals. plenty of practical advice and relevant,
real-world techniques and secrets for: them) goals and accounting
for future contributions, expenditures, and withdrawal needs
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