Valuation is the key to smart investing this book shows you how The Little Book of Investing Like the Pros gives individual investors a crash course in the tools and techniques used on Wall Street. Written by two expert practitioners at UBS, this book provides real, effective, practical guidance that allows investors to take a hands-on approach to the market. Readers will learn the four mission-critical valuation methods that professionals lean on, empowering them with the skills and understanding to take on the challenge of choosing the best stocks, armed with the same insights as Wall Street's smartest analysts. Valuation ratios say a lot about an investment's potential, and this book explains how individuals can put expert techniques to work for themselves. A total return approach to investing is about both the return of money, and the return on money. Proper valuation is the driver of all great investments, and the pros on Wall Street do it every day. The Little Book of Investing Like the Pros puts expert tools in the hands of individuals, helping them understand and effectively use the same techniques that give the pros a decided edge. * Discover the importance of valuation before investment * Learn the essential methods and techniques used every day on Wall Street * Understand the critical metrics, and in which situations they apply * Become familiar with the tools and resources that can streamline due diligence Wall Street pros need to know what a company is worth before they can decide whether the stock price represents a good value. This book reveals their methods, and helps individuals apply the same techniques to their own investment strategy. For individual investors looking to take their portfolio into their own hands, The Little Book of Investing Like the Pros is a complete, hands-on resource.

This book provides an analysis of the development of the Chinese securities market, with special reference to the information disclosure regimes in Mainland China, the UK, and Hong Kong. It examines the listed companies, stock exchanges, securities companies, financial intermediaries, financial regulators and investor protection of the system in China, the UK and Hong Kong. The book looks at the role and functions of the securities regulatory commission, and highlights the details and insights that generally reveal the past and current status of the information disclosure regime in the Chinese securities market. By identifying problems and their reasons, the book forms an approach to further develop securities regulation.

This study explores the struggle for gains from direct investment between multinationals and developing countries. Its purpose is to explain differences in taxation and nationalization between countries, and to consider how direct investments can best contribute to social welfare worldwide. Using game theory models, and taking into account that the developing countries also compete with each other to attract investors, it is shown that policies which manipulate behaviour do not normally distort direct investments, whilst policies that interfere with ownership do. It also demonstrates that governments that maximize social welfare should not be expected to sacrifice the environment to attract multinationals.

A fast-paced ride through the world of hedge funds revealing the unvarnished truth of how Wall Street really operates, and how to use this to your advantage

An insider's view of the high stakes world of money management, "Diary of a Hedge Fund Manager" is both a practical guide for investors and the deeply personal story of a man who knows the system inside and out. One of the best young portfolio managers on Wall Street, and helping to run the hedge fund operation of one of the world's most prestigious firms, Keith McCullough finds himself a lone voice of reason as the economic crisis of 2008 looms large. Shown the door, his life takes a fascinating turn into the world of independent research and no-holds-barred criticism.Reveals the unvarnished truth of how Wall Street and hedge funds really operateDeftly details how to analyze the markets expertly and avoid group think using technical and fundamental measuresEach topic is thoroughly discussed and followed up with lessons you can take away and put to use

Written with the authority of someone who knows how Wall Street and hedge funds work, yet accessible to even a casual follower of finance, "Diary of a Hedge Fund Manager" mixes a constructive critique of the investment industry with fundamental lessons that any investor will find valuable.

A comprehensive look at the world of leveraged buyouts

The private equity industry has grown dramatically over the past twenty years. Such investing requires a strong technical know-how in order to turn private investments into successful enterprises. That is why Paul Pignataro has created "Leveraged Buyouts + Website: A Practical Guide to Investment Banking and Private Equity."

Engaging and informative, this book skillfully shows how to identify a private company, takes you through the analysis behind bringing such an investment to profitability--and further create high returns for the private equity funds. It includes an informative leveraged buyout overview, touching on everything from LBO modeling, accounting, and value creation theory to leveraged buyout concepts and mechanics.Provides an in-depth analysis of how to identify a private company, bring such an investment to profitability, and create high returns for the private equity fundsIncludes an informative LBO model and case study as well as private company valuationWritten by Paul Pignataro, founder and CEO of the New York School of Finance

If you're looking for the best way to hone your skills in this field, look no further than this book.

Establishing an effective partnership and achieving improved outcomes for investors and management teams during the hold cycle Private equity represents a productive and fast-growing asset class--building businesses, creating jobs, and providing unlimited opportunity for investors and management teams alike, particularly if they know how to work together in candid and effective partnerships. Restructuring the Hold demonstrates how investors and managers can best work together to optimize company performance and the associated rewards and opportunities for everyone, not just the investors. Through brief references to the parable of the Gramm Company, a middle market portfolio company, readers will follow the disappointments and triumphs of a management team experiencing their first hold period under private equity ownership, from the day they get purchased through the day they get sold. Restructuring the Hold provides the reader both general knowledge and more detailed better practices and frameworks relating to specific time periods during the hold. Within this book readers will find: An examination of a typical middle-market private equity hold period Guidance for newly acquired management teams on what to expect during the hold period Descriptions of better practice operating cadence between investors and management teams Examples of effective partnerships between investors and management teams Discussions of topics relevant to typical hold periods, including organizational structures, operations improvement, selling pipelines and acquisition integrations With guidance from Restructuring the Hold, private equity principals and portfolio company executives can take steps toward greater collaboration and better outcomes. Through updated practices and strong relationships, they can partner effectively to improve portfolio company performance, which will lead to better outcomes for both investors and management teams.

The world of investing normally sees experts telling us the "right" way to manage our money. How often do these experts pull back the curtain and tell us how they invest their own money? Never. How I Invest My Money changes that. In this unprecedented collection, 25 financial experts share how they navigate markets with their own capital. In this honest rendering of how they invest, save, spend, give, and borrow, this group of portfolio managers, financial advisors, venture capitalists and other experts detail the "how" and the "why" of their investments. They share stories about their childhood, their families, the struggles they face and the aspirations they hold. Sometimes raw, always revealing, these stories detail the indelible relationship between our money and our values. Taken as a whole, these essays powerfully demonstrate that there is no single "right" way to save, spend, and invest. We see a kaleidoscope of perspectives on stocks, bonds, real assets, funds, charity, and other means of achieving the life one desires. With engaging illustrations throughout by Carl Richards, How I Invest My Money inspires readers to think creatively about their financial decisions and how money figures in the broader quest for a contented life.

All you need to know about investing safely and smartly, with new information on the latest options-from cryptocurrencies to social media IPOs-in this comprehensive and updated guide to understanding the current market, setting realistic goals, and achieving financial success. The best time to start investing is now-even as little as a few years can make a difference of hundreds of thousands of dollars by the time retirement comes around. Investing early in your career is the best way to ensure a secure and successful life all the way through retirement. For years, The Everything Guide to Investing in Your 20s and 30s has been guiding young professionals on how to capitalize on the investing market and make the most out of their money. This all-new and fully updated edition includes all of the tips, tricks, and investing knowledge while also explaining: -New technological investing options -How the changing political climate affects your money -What the rising interest rates mean -Active investing versus passive investing The Everything Guide to Investing in Your 20s and 30s teaches you how to maximize your investing strategy and make your money work for you. Don't wait. Start investing today!

Financial Risk Management and Derivative Instruments offers an introduction to the riskiness of stock markets and the application of derivative instruments in managing exposure to such risk. Structured in two parts, the first part offers an introduction to stock market and bond market risk as encountered by investors seeking investment growth. The second part of the text introduces the financial derivative instruments that provide for either a reduced exposure (hedging) or an increased exposure (speculation) to market risk. The fundamental aspects of the futures and options derivative markets and the tools of the Black-Scholes model are examined. The text sets the topics in their global context, referencing financial shocks such as Brexit and the Covid-19 pandemic. An accessible writing style is supported by pedagogical features such as key insights boxes, progressive illustrative examples and end-of-chapter tutorials. The book is supplemented by PowerPoint slides designed to assist presentation of the text material as well as providing a coherent summary of the lectures. This textbook provides an ideal text for introductory courses to derivative instruments and financial risk management for either undergraduate, masters or MBA students.

The fourth installment of the "Fisher Investments On" series is a comprehensive guide to understanding and analyzing investment opportunities within the global Industrials sector. "Fisher Investments on Industrials" can help you quickly become familiar with this highly diversified sector, how the sector is segmented by industries, their respective macroeconomic drivers, and the challenges facing Industrials firms.

This reliable guide skillfully addresses how to determine optimal times to invest in Industrials stocks, and which industries and sub-industries have the potential to perform well in various environments. The global Industrials sector is complex, including a variety of sub-industries and countries--each with their own unique characteristics. Using the framework found here, you'll discover how to identify these differences, spot opportunities, and avoid major pitfalls.

"Fisher Investments on Industrials: "Discuses industry fundamentals, drivers, attributes, and potential challengesProfiles each of the Industrials sector's sub-industries, broken down by industry group: Capital Goods, Transportation, and Commercial Services & SuppliesDelves into a top-down investment methodology as well as individual security analysis

led with in-depth insights and expert advice, "Fisher Investments on Industrials" provides a framework for understanding this sector and can help you make better investment decisions--now and in the future. With this book as your guide, you can quickly gain a global perspective of investing with regard to Industrials.

For more information visit www.industrials.fisherinvestments.com

Basis trading is an important part of the government bond markets. In this book we review the essential elements of this type of trading. Written by a former government bond market maker and proprietary bond trader, the book features: Basic concepts of forward pricing The determinants of the basis Repo financing Hedging using bond futures Trading the basis and an introduction to trading strategy The concept of the "cheapest-to-deliver" bond The net basis and the "implied repo rate"

The book is illustrated with in-depth practical examples and written in an accessible style. It will be of vital use to anyone with an interest or involvement in the government bond futures market.

This book deals with the complex and often challenging process for international companies in expanding their business through investing in the Indian emerging market. The process of globalization has allowed for the progressive fading of economic, commercial, and technological boundaries. This has resulted in Multinational firms or enterprises becoming increasingly referred to as key players in the world market over the course of the past fifty years. Inward Foreign Direct Investment flows have increased significantly, not only worldwide, but specifically towards newly-industrialized countries such as India. They are focused on trying to attract foreign investments, due to the lack of domestic savings, and thus as a stable means of foreign capital inflow. In addition to this, there are multiple, other positive effects on macroeconomic variables, such as productivity, production capacity, level of employment, factor prices, technological know-how, and overall economic growth. Corporations and firms, on the other hand, internationalize towards developing countries in an effort to seek and reap the multiple benefits found in these destination countries. Such benefits include reduced production costs, given by lower relative wages and country endowment of resources, as well as market expansion possibilities. The scope of their needs is determined by the type of strategy adopted, which can distinguish between market seeking, resource seeking, efficiency seeking and strategic investments. The Indian market offers relatively low-cost labor, an enormous pool of possible consumers and many other benefits. When time is taken to fully understand the characteristics of the country and its business culture one can extract the huge rewards. If on the other hand, investors make quick decisions and do not fully review all aspects which might create a risk, the investment may result in serious and substantial failures with large losses of capital. As in many developing countries, Indian laws and regulations are constantly evolving. These laws reflect the political compromise needed to balance the complex and conflicting demands of multiple constituencies. The result of this compromise is a high turnover of laws and regulations which, among other things, are passed through a trial and error basis. This entails that ineffective and inefficient laws may be passed and then substituted once they are tested as not working, having unintended consequences and being impracticable. The constant change and poor formulation leave, at times, room for interpretation especially by lower levels of government officials leading in turn to the possibility of corruptions. This, together with the inefficient judiciary, due not to its quality, but to the extensive time in court cases as well as non-streamlined and improperly implemented process and regulations, leads the investor to a perceive low protection and high risk throughout many phases of the investment. The book offers a useful overview for foreign enterprises on the complex, sometimes intricate process of investing in India, assisting them in gathering great opportunities through overtaking challenges.

The volume of money invested in the UK has increased dramatically in the last ten years; over the same period the property market has seen equally radical changes. Increasing concern has been expressed at the inadequacy of existing techniques for the valuation and appraisal of property investment. There is little doubt that new methods are needed. This text examines the theoretical basis and underlying assumptions of the various property models currently in use. They highlight some of the problems inherent in the current methodology, and identify possible ways forward for both research and practice.

Do you want to see your wealth grow? If so, then this easy-to-read guide that focuses on alternative investments - hedge funds, private equity, real estate, commodities, and infrastructure - is just for you. The fourth book in The H. Kent Baker Investments Series attempts to remove some of the mystery surrounding these investments so that you can determine whether any of these are right for you. If you're willing to gain the necessary knowledge, you may be able to build long-term wealth by taking advantage of the benefits that each investment has to offer. The Savvy Investor's Guide to Building Wealth Through Alternative Investments is written for investors familiar with traditional investments but with limited knowledge of alternative assets and strategies.

Construct a portfolio that is sure to outperform market averages Warren Buffett had it right all along. Now it's your turn to learn how to construct a portfolio that is sure to outperform the market averages, as well as almost every professional money manager in the world. Warren Buffett's method of predictability can determine a future target price, which in turn determines his all-important purchase price. However, Buffett doesn't draw conclusions of his predictability method relative to the future total returns of portfolios. That's where Buffett and Beyond comes in, taking Buffett's method one giant step beyond, proving that if you select a portfolio of stocks using the predictability method in this book, you will outperform 96% of professional money managers over the long term. In addition to the information in the book, readers will have access to a password-protected website that includes tutorial videos, PowerPoint slides, free trial access to a video newsletter, and a trial subscription to the author's computer program, which follows the research presented in the book. * Explains Clean Surplus Accounting (CSA) to determine Return on Owners' Equity (ROE) * Uses CSA to determine ROE in a unique way to verify Buffett's all-important purchase price * Draws conclusions between Clean Surplus Return on Equity and future total returns * Shows that every portfolio selected from the S&P 500 index with above-average Clean Surplus ROEs outperformed the S&P average during the test periods from 1987 to the present If you're an investor, this book will impact your financial life forever.

First published in 1992, this book explains how pension funds work in order to highlight their impact on the economy as a whole. David Blake explores the different systems in operation at the time of writing, both state run and private sector, and describes policy initiatives such as personal pension schemes. Longer life-expectancy, overseas investment, equal opportunities and short-termism in capital markets are among the issues discussed as David Blake assesses how pension funds typically behave. This is a title of continued relevance, which addresses the questions repeatedly raised within government and wider society.

China's venture capital market is not just the world's largest and fastest developing market, it also has the unique distinction of being engineered through heavy governmental intervention. This book breaks new ground by examining and testing established legal theories regarding the law of venture capital through the lens of the Chinese venture capital market. Using a hand-collected dataset of venture capital agreements, interviews with practitioners, and Chinese court judgements, it provides a comprehensive and insightful analysis of the Chinese venture capital market from the legal perspective. Topics covered include the roles of law and governmental intervention in developing the market, the state of investor protection, unique contractual developments and exits of venture capital investments. By providing an in-depth comparative analysis against the American venture capital market, it provides critical context and makes the Chinese venture market accessible. It is an invaluable resource for venture capital scholars, policymakers and practitioners.

The inside story of one of the world's most powerful financial Institutions
Now with a new foreword and final chapter, "The Partnership" chronicles the most important periods in Goldman Sachs's history and the individuals who built one of the world's largest investment banks. Charles D. Ellis, who worked as a strategy consultant to Goldman Sachs for more than thirty years, reveals the secrets behind the firm's continued success through many life-threatening changes. Disgraced and nearly destroyed in 1929, Goldman Sachs limped along as a break-even operation through the Depression and WWII. But with only one special service and one improbable banker, it began the stage-by-stage rise that took the firm to global leadership, even in the face of the world-wide credit crisis.

Technical analysis for today's market, with smarter setups for less risk Candlestick and Pivot Point Trading Triggers +Website makes Pivot Point analysis relevant for today's market, with up-to-date data and new techniques that reflect the current trading environment. Tried-and-true tactics are modernized with new tools and approaches, and novel methodologies are introduced to help you make smarter trades while minimizing risk. Directional options strategies draw on analysis from Thinkorswim, TradeStation and Genesis Software, and are integrated with PPS Indicator and Persons Pivots. Quarterly pivots are introduced for long-term trading opportunities and option strategists, and leveraged and inverse-leveraged ETFs are brought into the detailed discussion on trading vehicles. The author's own proprietary setups have been updated to align with the new trading realities, and the new chapter on volume analysis covers the techniques used in his book Mastering the Stock Market. Combined with the tools and resources featured on the companion website, this book gives you the tools and techniques you need to boost your portfolio's performance. Technical analysis offers more profit opportunities than ever before, but the tools of the trade have changed. This book brings you up to date with the latest, so you can start getting even more out of your trades. * Utilize leveraged and inverse-leveraged ETFs * Integrate directional options strategies * Apply new techniques for volume analysis * Implement quarterly pivots for longer-term opportunities The 2006 publications of this book's first edition brought pivot point and candlestick charting into the limelight. The market has undergone massive changes in the past ten years, and many of the most effective techniques have been adjusted and integrated with new tools to become even more effective in today's market. This new second edition of Candlestick and Pivot Point Trading Triggers +Website brings clarity to the current market, and strength to your investment strategy.

Scholars have recently begun to pay renewed attention to the economics of empire, focusing in particular on the requirements of metropolitan Britain's economy and on the activities of imperial businesses. Within this broad field, financial questions, not least the subject of investment overseas or the 'export of capital', have long had a prominent place, and have been equally affected by the development of new appraoches. The consensus as to the volume and direction of Britain's overseas investments is being vigorously challenged. Technological advances have encouraged on a greatly enlarged scale the compilation and analysis of information about British investments and shareholdings abroad. The gradual easing of restrictions on business records has increased facilities for the study, especially, of imperial and colonial banking. Work on the financial policies of central governments is revealing much of interest to students of twentieth-century colonial rule and decolonization. This collection of essays brings together a selection of the latest research on these and other themes, and, for comparative purposes, includes examples of recent continental work.

In Conceptions of Professionalism, Ken Bruce and Abdullahi Ahmed present the results of research into understanding what professionalism means to individuals who are CERTIFIED FINANCIAL PLANNERa"c professionals and how they conceive of acting professionally. Financial planning is establishing itself as a relatively new, emerging profession and an understanding of how its members experience professionalism provides insights that will help those responsible across the international financial planning community to establish relevant, accurate and meaningful professional standards for financial planners. The authors employ the relatively new research methodology of phenomenography, which enables them to describe the qualitatively different ways in which people understand or experience a phenomenon. This particularly lends itself to the study of a concept such as professionalism. This study gives voice to the financial planners represented in the research and will inform standard setting bodies seeking to understand professionalism through the eyes of the professionals themselves. What the research reveals about the concept of professionalism itself will be of value to those whose interests lie beyond the world of financial planning, and the application of the methodology used in the study will inform researchers contemplating phenomenographical studies elsewhere.

Value-creation in Middle Market Private Equity by John A. Lanier holistically examines the ecosystem relationships between middle market private equity firms and their portfolio companies. Small business is the job creating engine in the US economy, and consequently is a prime target market for private equity investment. Indeed, private equity backs over six of each 100 private sector jobs. Both the small businesses in which private equity firms invest, and the private equity firms making the investments, face inter- and intra-company fiduciary leadership challenges while implementing formulated strategy. The architecture of each private equity firm-portfolio company relationship must be uniquely crafted to capitalize on the projected return on investment that is memorialized in the investment thesis. Given the leveraged capital structure of portfolio companies, the cost of a misstep is problematic. Individual private equity professionals are typically members of multiple investment teams for the firm. Not only may each investment team have its own unique leadership style, but its diverse members have to assimilate styles for each team in which they participate relative to a specific portfolio company. Acquisitions and their subsequent integrations add exponential complexity for both private equity investment and portfolio company leadership teams; indeed, cultural integration ranks among the most chronic acquisition obstacles. Accordingly, the stakeholders of private equity transactions do well to embrace leadership best practices in applying value-creation toolbox best practices. The perspectives of both the private equity investment team and the portfolio company leadership team are within the scope of these chapters.

Praise for TRADING CHAOS SECOND EDITION "As a trader and an author for over fourteen years in stocks, futures, and options, it still amazes me when I read a book that teaches me new approaches to the market. This book is one of these amazing books that can teach the novice or the professional something important to take them to the next level of their trading. It is a must read for everyone interested in looking at the markets in a new way." George Fontanills, President Emeritus, Optionetics "Bill and Justine Williams, two of the truly great teachers of market action, have written an outstanding book. It not only covers the psychology of personal trading but provides one with a well defined, coherent trading plan. This book is must reading for any serious trader, whether a beginner or experienced veteran." John R. Hill, President, Futures Truth Company "What Bill Williams does best is raise questions and doubts in the minds of his readers. But, even better, he then provides wonderful new choices for thinking and acting. He has a deft lightness in his writing and a seriousness of purpose that drew me in like a magnet." Rodney Napier, PhD, head of The Napier Group coauthor, The Coura

'Financial derivatives continue to play a major role in modern, market-based economies across the globe. The necessity to comprehend the economic rationales behind financial derivatives, as well as the purposes for which they were designed, has never been greater. This new four-volume collection from Routledge answers that need. David H. Goldenberg, a leading scholar in the field, has brought together the foundational and the very best cutting-edge contributions. The collection maps the existing body of thinking and helps users to make sense of the continuing explosion in scholarly output. Financial Derivatives is fully indexed and has a chronological table. It also includes detailed introductions for each of the four volumes, newly written by the editor, which places the material in its intellectual and historical context. These introductions collectively constitute 108 pages, guide the reader through the material, and provide an overview of the subject. They form a virtual textbook, making the series suitable for courses taught in Finance, Mathematical Finance, and Economics programs worldwide. Financial Derivatives is an essential work of reference and is destined to be valued by users both as a vital one-stop research and as a teaching resource.