Developments In Collateralized Debt Obligations

The fastest growing sector of the fixed income market is the market for collateralized debt obligations (CDOs). Fostered by the development of credit default swaps (CDS) on all types of indexes of corporate bonds, emerging market bonds, commercial loans, and structured products, new products are being introduced into this market with incredible speed.

In order to keep up with this dynamic market and its various instruments, you need a guide that provides you with the most up-to-date information available. That's why Douglas Lucas, Laurie Goodman, Frank Fabozzi, and Rebecca Manning have created "Developments in Collateralized Debt Obligations."

Filled with in-depth insights regarding new products, like hybrid assets in ABS CDOs and trust preferred CDOs, and detailed discussions on important issues-such as the impact of CDOs on underlying collateral markets-this book will bring you completely up to speed on essential developments in this field.

Written in a straightforward and accessible style, "Developments in Collateralized Debt Obligations" will enhance your understanding of this ever-evolving market-and its numerous products.

The dominant paradigm in modern-day fund management remains the Capital Asset Pricing Model (CAPM). Originally developed in the 1960s as an explanatory and predictive model of capital market behaviour, it has subsequently acquired enormous significance in many fund-management institutions. "

"Harold Hutchinson’s Portfolio Indexing is a long-overdue theoretical and practical perspective on the ‘managers versus trackers’ debate. He concludes that the indexing solution to risk management is flawed and that individual judgment will always have a proper role to play in investment. This much-needed book will hopefully help to stop the current steam-rolling move of the fund management industry towards indexing in its tracks, and encourage a more balanced view of the benefits of the active manager, especially in volatile or falling markets." " Phillip Keane, Director, Industrial Bank of Japan Asset Management International Ltd

""Portfolio Indexing challenges the growing consensus in favour of portfolio indexing as the optimal investment strategy. His devastating criticisms of the theoretical foundations underlying indexing, and his plea for a more modest inductive approach to portfolio management, have huge and as yet untapped implications for the asset management industry."" Dr Andrew Allan, Vice President, Salomon Smith Barney

Professionals, students and amateur investors alike will profit from this enjoyable tract on how to maintain and navigate vehicles of investment.

If the last financial crisis cost you money, you may be wondering whether you should continue investing in the market. After all, you have bills to pay and a job to keep-and you can't spend all your free time crunching numbers.

With the help of an expert, you can control your financial future by making small shifts in what you are already doing. Author Coreen T. Sol, Chartered Financial Analyst, gives you the tools you need to

avoid mistakes that could cost you money;

find good alternative investments;

maximize the benefits of a retirement plan; and

write your own investment policy statement.

This guidebook provides bold-faced terms and a glossary, along with instructions that make understanding the market fun and easy. You'll have to do some homework, but you can start taking simple steps to accomplish your dreams with the guidance in Practically Investing.

This book will provide a thorough introduction to the foreign exchange markets, looking at the main products through to the techniques used, coverage of the main participants, details of the various players, and an understanding of the jargon used in everyday dealings. Written in a concise and accessible manner, it will be an ideal introduction for anyone looking to become involved in the FX markets, from dealing rooms or sales perspectives, to novice investors.
The new edition has been updated to reflect the changes that have taken place in the industry over the past few years. Most chapters have been enhanced and this new edition now features new material on the psychology of trading, the psychology of price movement and online trading.

A complete update and revision of one of the Motley Fool’s best commercial real estate books Offers a step-by-step introduction to building and understanding the models underlying investments in properties from single family rentals to entire development projects Ideal reading for courses in real estate financial modeling; asset valuation; property investment, development, and finance; commercial real estate investments and more Provides a much-needed resource for learners at any stage of their real estate careers Includes expanded coverage of waterfalls and other cutting-edge investment trends

A Wall Street Journal besteller and a USA Today Best Book of 2020 Named Energy Writer of the Year for The New Map by the American Energy Society "A master class on how the world works." -NPR Pulitzer Prize-winning author and global energy expert, Daniel Yergin offers a revelatory new account of how energy revolutions, climate battles, and geopolitics are mapping our future The world is being shaken by the collision of energy, climate change, and the clashing power of nations in a time of global crisis. Out of this tumult is emerging a new map of energy and geopolitics. The "shale revolution" in oil and gas has transformed the American economy, ending the "era of shortage" but introducing a turbulent new era. Almost overnight, the United States has become the world's number one energy powerhouse. Yet concern about energy's role in climate change is challenging the global economy and way of life, accelerating a second energy revolution in the search for a low-carbon future. All of this has been made starker and more urgent by the coronavirus pandemic and the economic dark age that it has wrought. World politics is being upended, as a new cold war develops between the United States and China, and the rivalry grows more dangerous with Russia, which is pivoting east toward Beijing. Vladimir Putin and China's Xi Jinping are converging both on energy and on challenging American leadership, as China projects its power and influence in all directions. The South China Sea, claimed by China and the world's most critical trade route, could become the arena where the United States and China directly collide. The map of the Middle East, which was laid down after World War I, is being challenged by jihadists, revolutionary Iran, ethnic and religious clashes, and restive populations. But the region has also been shocked by the two recent oil price collapses--and by the very question of oil's future in the rest of this century. A master storyteller and global energy expert, Daniel Yergin takes the reader on an utterly riveting and timely journey across the world's new map. He illuminates the great energy and geopolitical questions in an era of rising political turbulence and points to the profound challenges that lie ahead.

Buying this book could be the smartest investment you make this season. If that sounds like a bold claim, just take a look at the list of contributors. In it you'll find the names of twenty-nine of the world's foremost experts in asset allocation. Over the course of twenty chapters, these accomplished institutional investors, academics, analysts, and traders school you in all of the hottest new portfolio management techniques now in use around the globe.
Not another abstruse discourse on the theoretical pros and cons of asset allocation, Global Asset Allocation is a working, nuts-and-bolts guide for institutional investors. It outfits you with a set of versatile new tools and techniques designed to solve real-world problems and guide your portfolio management decision-making.
While broad theoretical considerations are given their due, the lion's share of this book's coverage is commanded by cutting-edge technical issues such as mean variance optimization, allocating between styles of equity management, optimal fixed income portfolios, asset/liability forecasting, the critical time horizon, target asset allocation, and chaos theory.
In addition to all of the traditional classes of asset allocations, Global Asset Allocation explores a number of new and emerging investment horizons. Foremost among these is "the ultimate investment frontier," international markets, to which a sizeable portion of the book (all of Part Two) is devoted. You'll find in-depth discussions of the qualitative and quantitative aspects of global asset allocation, in which various experts describe the latest global asset allocation models, optimization methods, forecasting techniques, global bond and currency management strategies, risk and return analysis in country-to-country allocation strategies, active and passive management portfolio strategies, and much more.
Offering world-class strategies for managing global portfolios, Global Asset Allocation is an essential resource for corporate finance professionals, pension plan sponsors, analysts, and portfolio managers looking to expand their repertoire of financial management skills.
From asset liability forecasting and target asset allocation, to critical time horizon and implementing overlay strategies, this groundbreaking new guide educates institutional investors in state-of-the-art portfolio management strategies guaranteed to minimize risk while maximizing returns. Bringing you the combined insights and expertise of twenty-nine prominent investment experts from around the world, Global Asset Allocation is a working handbook, designed to guide your portfolio management decision-making and help you to solve real-world problems.
* The latest asset allocation models, optimization methods, and forecasting techniques, including passive and active portfolio strategies
* Includes six major chapters on global asset allocation, including currency management and emerging market investing

Traders, portfolio managers...investment professionals of every ilk: read this book, and use the versatile new strategies, tools, and techniques it describes to give your investment skills a razor-sharp, winning edge.

Forestland investment has surged in the past few decades as a result of land ownership change in the forestry industry. Timberland investment and management organizations and real estate investment trusts have bought up land and resources that were divested by vertically integrated forest products companies. This book provides a seminal coverage of this seismic shift in the industry, exploring the philosophy, driving factors, valuation, theory, research, implementation, practice, and effects of forestland investment. Across 15 chapters the book reviews the history of forestland investment; discusses the optimal forest rotation; explains timberland appraisal; examines the return drivers of forestland; analyzes timberland index construction methods and results; prices timberland assets; reviews financial and real options; investigates real option values in forestland management; evaluates timber harvest contracts; examines new opportunities in the emerging woody bioenergy market; and eventually offers prospects on forestland investment in the future. It also discusses how forest carbon can be used as a nature-based climate solution. This book is essential reading for forestry business students and scholars, as well as practitioners and policymakers in the industry.

Your Essential Guide to Quantitative Hedge Fund Investing provides a conceptual framework for understanding effective hedge fund investment strategies. The book offers a mathematically rigorous exploration of different topics, framed in an easy to digest set of examples and analogies, including stories from some legendary hedge fund investors. Readers will be guided from the historical to the cutting edge, while building a framework of understanding that encompasses it all. Features Filled with novel examples and analogies from within and beyond the world of finance Suitable for practitioners and graduate-level students with a passion for understanding the complexities that lie behind the raw mechanics of quantitative hedge fund investment A unique insight from an author with experience of both the practical and academic spheres.

The globalisation of many industries has created a unique opportunity to interact with a client on a coordinated global basis. Traditional markets are saturated, industries have consolidated, customer bases are shrinking, and purchasing processes are changing. Many companies are faced with handling large global customers, and this requires special expertise, systems and organizational alignment to ensure a long-term supplier-buyer relationship.

The practice of global account management (GAM) requires the development of a new structure, which is needed to support the global account manager. Companies are struggling with the components of this new structure as well as with GAM’s role providing additional value for the global account, which could not be provided effectively at the local level. Supported by case studies and interviews, this book examines the key aspects of developing and managing global customers.

Dramatic changes in the foreign exchange and money markets have considerably altered the way international business will be conducted in the new millennium. The advent of the Euro, the enormous growth of the swaps market, and the daily increase in the development of derivative instruments are at the forefront of this evolution. If you're an investor, corporate finance officer, or anyone seeking to gain the essential edge in the world's major financial markets, resources for sound, accessible, and timely information are more important than ever. This updated, totally revised, and expanded edition of finance expert Julian Walmsley's popular classic is the one book you'll need. Practical and easy-to-understand, this unique reference provides guidance on every important market around the world, including closely related money markets such as the commercial paper and Eurocommercial paper markets, national money markets, interest rate options markets, and numerous related instruments. You will also find state-of-the-art sections on:
* The Euro
* Swaps-the instrument with the fastest growing market of all time
* Money market calculations
* Foreign exchange calculations
* Derivatives
* Risk issues

From currency option markets to the "third generation" hedging products that combine forwards and options, The Foreign Exchange and Money Markets Guide, Second Edition, unites volumes of information in one single source-and demystifies the seemingly complex concepts facing investors today. Julian Walmsley is Managing Director of Askeaton Associates Ltd. and a Visiting Research Fellow at the International Securities Market Association Centre for Securities Research at the University of Reading, England. Previously, he was Chief Investment Officer for Mitsubishi Finance International and also Senior Investment Officer for Oil Insurance in Bermuda. He spent many years working with Barclays Bank's foreign exchange operations and their interest rate and currency swaps group in London and New York, and was a director in charge of swaps at the London subsidiary of National Bank of North Carolina (NCNB). His other books include New Financial Instruments and The Foreign Exchange Handbook (both published by Wiley), and Global Investing: Eurobonds and Alternatives. Mr. Walmsley earned his MA in economics at Cambridge University.

THE CLASSIC GUIDEBOOK COMPLETELY REVISED AND UPDATED FOR THE NEW MILLENNIUM

Written by a well-known financial author and respected authority on international investing, trading, and risk management, this updated, totally revised, and expanded second edition of The Foreign Exchange and Money Markets Guide provides essential, easy-to-understand coverage of the considerable developments that have drastically reshaped the way international business will be conducted in the new millennium. From state-of-the-art sections on the dawn of the Euro, the rapidly growing swaps market, and the daily increase in derivative instruments, to money market and foreign exchange calculations and risk issues, this invaluable classic includes the most timely, accessible, and dependable information on every important market around the world. Here is the quintessential resource for institutional investors, bankers, pension fund managers, or anyone seeking to gain that crucial edge in the world's major financial markets.

This book helps students, researchers and quantitative finance practitioners to understand both basic and advanced topics in the valuation and modeling of financial and commodity derivatives, their institutional framework and risk management. It provides an overview of the new regulatory requirements such as Basel III, the Fundamental Review of the Trading Book (FRTB), Interest Rate Risk of the Banking Book (IRRBB), or the Internal Capital Assessment Process (ICAAP). The reader will also find a detailed treatment of counterparty credit risk, stochastic volatility estimation methods such as MCMC and Particle Filters, and the concepts of model-free volatility, VIX index definition and the related volatility trading. The book can also be used as a teaching material for university derivatives and financial engineering courses.

This print textbook is available for students to rent for their classes. The Pearson print rental program provides students with affordable access to learning materials, so they come to class ready to succeed. For introductory courses in managerial finance. Using financial concepts to solve real-world problems with a proven teaching and learning framework The Teaching and Learning System - a hallmark feature of Principles of Managerial Finance - weaves pedagogy into concepts and practice, giving students a roadmap to follow through the text and supplementary tools. The 16th Edition concentrates on the material students need to know in order to make effective financial decisions in an increasingly competitive business environment. It allows students to make the connections between a firm's action and its value, as determined in the financial market. With a generous amount of examples, this text is an easily accessible resource for in- and out-of-class learning.

An insider's view of how to develop and operate an automated proprietary trading network

Reflecting author Eugene Durenard's extensive experience in this field, "Professional Automated Trading" offers valuable insights you won't find anywhere else. It reveals how a series of concepts and techniques coming from current research in artificial life and modern control theory can be applied to the design of effective trading systems that outperform the majority of published trading systems. It also skillfully provides you with essential information on the practical coding and implementation of a scalable systematic trading architecture.

Based on years of practical experience in building successful research and infrastructure processes for purpose of trading at several frequencies, this book is designed to be a comprehensive guide for understanding the theory of design and the practice of implementation of an automated systematic trading process at an institutional scale.Discusses several classical strategies and covers the design of efficient simulation engines for back and forward testingProvides insights on effectively implementing a series of distributed processes that should form the core of a robust and fault-tolerant automated systematic trading architectureAddresses trade execution optimization by studying market-pressure models and minimization of costs via applications of execution algorithmsIntroduces a series of novel concepts from artificial life and modern control theory that enhance robustness of the systematic decision making--focusing on various aspects of adaptation and dynamic optimal model choice

Engaging and informative, "Proprietary Automated Trading" covers the most important aspects of this endeavor and will put you in a better position to excel at it.

Holger Markmann studies covered bonds and their market behaviour upon the announcement and implementation of outright covered bond purchases by the eurosystem. After introducing the covered bond market, its reaction to the global financial crisis, and the functionality of unconventional monetary policy to a broad audience, the author analyzes the impact of these purchases. The first Covered Bond Purchase Programme (CBPP1) has lowered covered bond spreads by 3-4 basis points in the short-term, 10 basis points in the medium-term, and increased emission volumes by EURO 103 billion. CBPP2 and CBPP3 have not led to similar effects. However, the programs' effectiveness relies on the market's expectations and its prevalent health. About the Author Holger Markmann is PostDoc at the Real Estate Management Institute (REMI) of EBS Universitat fur Wirtschaft und Recht and Managing Director of a real estate investment firm. His research focuses on real estate capital market financing, bank funding, and unconventional monetary policy. Prior to his current roles, he worked for a bulge bracket investment bank, advising financial institutions on their M&A- and capital market activities.

Foreign Direct Investment in Japan presents a detailed examination of trends of inward foreign direct investment (FDI) and their impact on the Japanese economy. Historically much less open to foreign trade and investment than other major economies, Japan experienced an unprecedented jump in FDI inflows around the turn of the millennium. This book looks at the profound changes in Japan that made this jump possible and considers foreign firms' potential contribution to productivity and overall economic growth. Detailed case studies illustrate that in certain sectors the presence of foreign firms already is a key factor shaping industry dynamics. Yet, despite recent changes, resistance to inward FDI remains strong and the government could do much more if it were committed to attracting FDI. Overall, Japan continues to appear reluctant to embrace fully, and therefore seems unlikely to benefit even more substantially from, globalization.

Praise for Private Equity

"Harold Bierman has blended an excellent mix of important principles with real case study examples for a better understanding on a rather sophisticated finance subject."
–Edward M. Dudley, Vice President & General Auditor, ABB Americas

"The role of private equity firms in financing buyouts as well as providing growth capital has expanded significantly in the past decade. In a clear, concise way, Harold Bierman provides a timely and astute analysis of the virtues of private equity as well as creative quantitative methodologies that are applicable to real-life transactions. This book should become essential reading for investors, intermediaries, financial advisors and the management of private, almost private, or soon-to-be private firms."
–James A. Rowan Jr., Managing Director, Investment Banking
Legg Mason Wood Walker, Inc.

"As the private equity asset class has grown to over $300 billion in the last three years, Bierman analyzes the fundamentals behind the investment decisions of this increasingly important sector. Once completing the book, you will understand the fundamental analytical framework underlying private equity investment."
–Peter Nolan, Partner, Leonard Green and Partners

"In looking at the private equity arena, Professor Bierman has brought together a diverse group of metrics and valuation formulas into a single text. The book provides a valuable combination of academic theory and real-life case studies. It provides many insights."
–Peter H. Vogel, Vice President, MeadWestvaco Corporation

This book complements the textbook Investment Valuation and Appraisal - Theory and Practice. It contains exercises and solutions often used at academic courses about investment evaluation around the world. Using the sample solutions for the assignments, the learning progress itself can be checked by students. Thus, this book enables students of business administration to prepare for exams in self-study. In addition, it is ideal for practitioners as an illustrative object for concrete quantitative business problems and their solutions.The book covers tasks in areas such as static investment evaluation methods, dynamic investment evaluation methods, selection of alternatives and investment program planning, optimum useful lifetime and optimum replacement time and investment decisions in uncertainty. The book closes with a mock exam and its solution as is typical at universities. Solutions are shown in an Excel sheet which is available online.

The first book to provide a comprehensive history of the financial planning profession

The financial services field has been revolutionized in the last quarter of the twentieth century by the financial planning profession. So much has happened in so little time that it has been difficult to keep up with the events and key players that make up the world of financial planning. "The History of Financial Planning" is the first book to provide a comprehensive history of the profession.

Backed by the Financial Planning Association, "The History of Financial Planning" offers a clear overview of the industry and how it has grown and changed over the years. This book chronicles the history of the profession, with explanations of how the financial planning movement has grown beyond the United States to other countries-particularly in the last fifteen years. The book also demonstrates how the work of key researchers, such as Dr. Daniel Kahneman, Vernon Smith, and Amos Tversky, has influenced the rise of the financial planning professionNames "four initial engines of growth" that contributed to the success of financial planningReveals the moments and key players that define the history of financial planningDiscusses the emergence of the Financial Planning Association (FPA)

The financial planning field has a rich history, and with this book as your guide, you'll quickly discover how it has evolved over the years.

This book presents selected papers on the factors that serve to influence an individual's capacity in financial decision-making. Initial chapters provide an overview of the cognitive factors affecting financial decisions and suggest a link between limited cognitive capacity and the need for financial education. The book then expands on these cognitive limitations to explore the tendency for overconfidence in decision-making and the interplay between rational and irrational factors. Later contributions show how credit card companies benefit from limitations in consumer financial literacy, how gender and cognition intersect to play an important role in financial decision-making, and how to improve financial capacity through financial literacy and education campaigns, including those addressing developed marketplaces. This comprehensive collection of papers will be of value to all readers who seek to better understand the multi-factorial and complex nature of personal financial management in today's economic climate.

The S&P futures pit is the ultimate arena for traders. It is a place where trading titans make split-second decisions on huge amounts of money, and fortunes appear and vanish with the blink of an eye. Successful day traders are brilliant, aggressive—and lucky. Lewis J. Borsellino is all three. And now he is telling his story. The nation's top S&P futures trader, Borsellino takes you inside the world of the day trader.

Chronicling Borsellino's incredible run on the floor of the Chicago Mercantile Exchange, The Day Trader offers a rare behind-the-scenes look at his everyday strategies and tactics. Raised to be a fierce and fearless competitor, Borsellino felt at home the first day he walked into the chaos and excitement of the Merc. In The Day Trader, he offers both a compelling story as well as an inside look at day trading and the S&P market. Borsellino outlines exactly what contributed to his unparalleled success—a rare blend of discipline, drive, intelligence, and an uncanny ability to read and interpret the market. The Day Trader is also a candid memoir of a second-generation Italian American who learned tough life lessons from his father.

The senior statesman of the S&P pit, Borsellino offers vivid firsthand accounts of the unique dynamics of the trading floor, the fortunes won and lost in the crash of 1987, the FBI investigation that rocked the futures trading industry, and the tense political battles between Merc titans Leo Melamed and Jack Sandner. He also shares war stories from the floor, many involving top traders such as Richard Dennis and George Soros.

Finally, Borsellino chronicles the latest phase of his career, as he moves beyond the trading pit to the challenges and opportunities of the electronic trading arena. More than the success story of one of the nation's most respected traders, The Day Trader offers practical insights into the futures markets, pit trading, market psychology, fundamental and technical analysis, and risk. It is a rare opportunity to see inside the mind of one of today's most brilliant traders.

"A legendary S&P floor trader has written a powerful, brutally honest chronicle of his determined rise to the top of his profession. Touching and insightful, this riveting account is one of the best trading memoirs ever."—Nelson Freeburg, Publisher, Formula Research.

"The Day Trader provides a rare look into the events that shaped the extraordinary character of one of the most unique people to ever put on a trading jacket . . . it comes as no surprise that Borsellino places himself at the center of the maelstrom surrounding electronic trading versus open outcry and provides a truly balanced, intelligent, and unemotional view of the momentous transformation occurring in the financial markets. It is imperative that anyone involved in trading the markets—either traditionally or electronically—read this story and benefit from the insights of one of the great traders of our lifetime." —Mario Alberico, Former Senior Vice President, Electronic Trading, Chicago Mercantile Exchange.

"The Day Trader is must reading for anyone in the market. Lewis Borsellino is an Italian American hero who climbed the mountain with guts and honor. The neighborhood kid will always remember where he came from."—Dominic Di Frisco, President Emeritus, Joint Civic Committee of Italian Americans.

Discover how to achieve superior investment performance

"I enjoyed this book on several levels. First: I appreciated the factual information about stock market behavior and the increasingly sophisticated packaged products being offered to mitigate market risk. Second: I was reminded how little I know about market timing and how it can help lower the risk exposure of any portfolio. Third, and most interesting of all: I really enjoyed the personal side of David Rogers's career."
--Binkley Shorts, Equity Portfolio Manager Wellington Management Co.

"I have followed David Rogers's market forecasting for many years. He is very good (not many really are). David's book, The 90% Solution is enjoyable and educational. I found the historical reviews particularly interesting and I agree with David's most important theme regarding the importance of market timing wholeheartedly. In an age where hedge funds and brokerage trading desks control over half of total market value, the adage 'timing is everything' is critically important to investors as well as traders."
--Otis T. Bradley, Managing Director of Research, Gilford Securities

"David is a very thorough and dedicated analyst, and everyone, both novice and professional, could learn something from reading this book. No one has all the answers when it comes to successful investing, however David's approach can help even the most remedial investor secure better-than-average returns in his or her portfolio. I highly recommend you read each page with care."
--Jack Norberg, Chairman, Standard Investment Chartered, Inc., and General Partner, Buttonwood Tree Value Partners

"This book demystifies the hocus-pocus and debunks the badrap that market timing has attracted. Time will show why David Rogers is one of the unheralded investment gurus of our day."
--Craig Pieringer, Portfolio Manager, Wells Capital Management

"David Rogers breaks through the cobweb-cliches about 'buying and holding, ' spun for years by most stock brokers and mutual fund salesmen. It is high time that market timing be revisited and its best techniques be shared with the investing public. Rogers is to be commended for spotlighting this timely need."
--William Schmidt, PhD, President, Tiger Software

"This book has to be on the reading list of every serious investor. David Rogers tells us why and how using the overall stock market's direction is the best way to improve portfolio performance. He knows what he is talking about because his performance ranks among the best in the world of active money management."
--Roger J. Schreiner, CEO, Schreiner Capital Management

This book examines selected actions and investments of the European Central Bank (ECB) from a climate and sustainability standpoint. Shedding new light on the topic from various angles - ethical, philosophical, political, economical and legal - it situates sustainability mainstreaming in the finance and investment field at all levels. The former ECB President Mario Draghi once said that he considered sustainable development and an intact environment to be human rights, and therefore enshrined in the EU Charter of Fundamental Rights. The acting ECB President Christine Lagarde added that the future path for the climate is uncertain, but it would remain within our power to influence it. However, with all that in mind the ECB's policy of buying assets as securities is often questionable. This volume analyzes these actions in connection with sustainability, and puts forward practical recommendations for improving the ECB's investment strategy on its way creating a sustainable financial market.

Every year, financial services organizations make billions of dollars worth of decisions using automated systems. For example, who to give a credit card too and the premium someone should pay for their home insurance. This book explains how the forecasting models, that lie at the heart of these systems, are developed and deployed.