Build the financial future you deserve with tax-effective investing The government wants your help, and it's willing to pay handsomely. You just need to know what to do. In The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make, celebrated entrepreneur, investor, and bestselling author Tom Wheelwright, CPA transforms the way you think about building wealth and challenges the paradigm that tax incentives are immoral loopholes. Backed by deep research in 15 countries, he identifies seven investing strategies that are A-OK with governments worldwide and will fatten your wallet while making the world a better place. You'll learn: How to tax-effectively invest in business, technology, energy, real estate, insurance, agriculture, and retirement accounts How to use tax incentives to help pay for your next car, house, or tuition bill Why "the rich" are not "a drain on society" and, more importantly, how to become one of them An indispensable and startlingly insightful exploration of straightforward investing strategies, The Win-Win Wealth Strategy improves your confidence in tax-effective investing, so you make better decisions with your money and supercharge your family's generational wealth while creating jobs, developing technology and improving access to food, energy and housing.

A fascinating discussion of the role played by fear in financial market panics. Professor Read demonstrates, in easy-to-understand terms, that rising market fear portends to major financial declines. He explains the science and the economics of fear and shows that the financial market has learned how to capitalize on investor or economic fear

This book provides a preliminary attempt to understand the impact investors' preferences and characteristics. It offers an empirical insight of the main features characterizing social risk of Social Impact Bonds (SIBs) and explores the correlation existing between social risk and financial return. It assesses case studies of social impact investment architectures and their legal and operational limits. It also analyzes new trends in social impact measurement, focusing on the Spanish and Swedish experiences. The book concludes with a road map of priorities and policy strategy for social impact investments development.

This authoritative and accessible investment classic promises rare insight into what it really takes to run money in a top-performing investment fund. Anthony Bolton, the UK's most successful stock market investor, tells the story of his contrarian approach to managing money. He provides invaluable lessons on the factors that really matter in picking a stock: the need to identify good managers, how to run a portfolio, the importance of value investing, reading charts and how to trade successfully.

The EU is moving towards the full implementation of the Investment Services Directive (ISD). Indeed, in some Member States, implementation has been or will be complemented by further changes to the domestic legal framework in order to cater more effectively for increased competition among financial institutions and markets. This book analyzes these developments from a legal and economic perspective and includes papers written by academics and practitioners from Europe and the US. Some papers examine critical aspects of the ISD from a comparative viewpoint, in particular considering whether further harmonization would be appropriate. Special attention is paid to the regulation of financial exchanges in the new competitive arena and to the need for co-operation between supervisors. The volume is aimed at all those involved in European securities and derivatives markets in either a legal or economic capacity. It will be of interest to banking and financial lawyers, financial economists, regulators, exchanges and intermediaries.

Cross-border transactions involve a variety of financial operations, including arbitrage, hedging, speculation, financing, and investment. These inter-related operations give rise to foreign exchange exposure and affect the overall financial performance of multinational firms. The book aims to provide an integrated treatment of multinational financial operations, whilst taking into account some real- world complexities such as bid/offer spreads, transaction costs, capital rationing, and market imperfections.

In spite of the robust development of venture capital that has occurred over the last three decades, returns from venture capital have been declining. This book focuses on a simple question: why? The answer lies in the context of multiple deformations that have occurred throughout the venture capital process. The book critically assesses the ways in which interactions between different stakeholders in the venture capital ecosystem change (or "deform") venture capital, decreasing its value. Klonowski also reveals that venture capital actually has few benefits-and some outright disadvantages-for entrepreneurs, and it can create a self-perpetuating cycle of investment and loss for the entire venture capital industry. This is especially true as corporate governance and compensation structures may create significant misalignments, incongruities, and conflicts of interest between general and limited partners.

The Financial Markets of the Future is concerned with e-business as it applies to financial institutions who operate within these markets. It presents a strategic overview of the impact and implications of technology in these markets. The model identifies two primary inter-related technological causes of change and the elegance and simplicity of the model and format provide a means to evaluate developments in the financial markets. Aimed at all high level financial practitioners evaluating the application of e-business and in particularly to banks on the sell-side in their capacities as securities dealers.

This practical book serves as a comprehensive guide to quantitative portfolio optimization, asset allocation, and risk management. Providing an accessible yet rigorous approach to investment management, it gradually introduces ever more advanced quantitative tools for these areas. Using extensive examples, this book guides the reader from basic return and risk analysis, all the way through to portfolio optimization and risk characterization, and finally on to fully fledged quantitative asset allocation and risk management. It employs such tools as enhanced modern portfolio theory using Monte Carlo simulation and advanced return distribution analysis, analysis of marginal contributions to absolute and active portfolio risk, Value-at-Risk and Extreme Value Theory.

Portfolio Management with Heuristic Optimization consist of two parts. The first part (Foundations) deals with the foundations of portfolio optimization, its assumptions, approaches and the limitations when "traditional" optimization techniques are to be applied. In addition, the basic concepts of several heuristic optimization techniques are presented along with examples of how to implement them for financial optimization problems. The second part (Applications and Contributions) consists of five chapters, covering different problems in financial optimization: the effects of (linear, proportional and combined) transaction costs together with integer constraints and limitations on the initital endowment to be invested; the diversification in small portfolios; the effect of cardinality constraints on the Markowitz efficient line; the effects (and hidden risks) of Value-at-Risk when used the relevant risk constraint; the problem factor selection for the Arbitrage Pricing Theory.

Predicting the future for financial gain is a difficult, sometimes profitable activity. The focus of this book is the application of biologically inspired algorithms (BIAs) to financial modelling.

In a detailed introduction, the authors explain computer trading on financial markets and the difficulties faced in financial market modelling. Then Part I provides a thorough guide to the various bioinspired methodologies neural networks, evolutionary computing (particularly genetic algorithms and grammatical evolution), particle swarm and ant colony optimization, and immune systems. Part II brings the reader through the development of market trading systems. Finally, Part III examines real-world case studies where BIA methodologies are employed to construct trading systems in equity and foreign exchange markets, and for the prediction of corporate bond ratings and corporate failures.

The book was written for those in the finance community who want to apply BIAs in financial modelling, and for computer scientists who want an introduction to this growing application domain."

From long, first-hand experience as president of his own financial advertising agency, Alec Benn offers a unique, inside look at America's investment community, at a time of changes so profound that their impact and implications are still with us. Based not on public relations handouts (although he himself has written them) but on frank, revealing talks with people who actually participated in the events of those tumultuous seven years, on official oral histories (hitherto concealed), and on his own keen observations, Benn shows how those events and changes really occurred. He reveals that The New York Stock Exchange (NYSE) was in far greater peril of collapse in 1970 than anyone, except a few insiders, has ever known. He exposes how many of the most significant changes ever to affect investors really came about. And he provides new insights into the people who caused, influenced, or sometimes opposed the reforms we now take for granted, as well as into the impact of historical figures such as Richard Nixon and Ross Perot. Informative, entertaining, and impeccably researched and documented, Benn's book gives us new information to help evaluate the investment world of today, and to appreciate how dangerous it was at another time, a time that some say appears uncomfortably familiar.

Among the many topics Benn examines in depth is the creation of the Securities Investors Protection Corporation, the agency that insures against loss of the cash and securities left by investors in their brokers' hands. He shows how stock brokers' commissions came to be competitive and low, instead of fixed and high (a special benefit for today's day traders), and how members of The New York Stock Exchange became able to sell shares in their firms to the general public, opening a bountiful source of permanent capital. He goes on to cover the creation of the Central Certificate System, which led to a dramatic increase in trading volume later, and how the NYSE was reorganized, benefiting not only members but investors as well. Benn also explores how NYSE member firms became authorized to sell annuities and other insurance products, in itself a billion-dollar business. Finally, in an especially telling chapter, he discusses how and why discrimination on Wall Street based on class, religion, race, and gender declined (and by inference, why in some places it still lingers.)

The alternative investment market (AIM) has seen rapid growth over its 19 years, and has emerged as the market of choice for smaller, newer companies, both in the UK and abroad. However, it has often had a volatile reputation among investors, who have commonly perceived stock in the AIM as more risky than the main market. In this book, a group of leading financial analysts conduct an extensive empirical study to compare the relative volatility of two UK equity markets run by the London Stock Exchange, over a ten year period. They analyse the comparative risks involved in the alternative investment market, the market of growing companies, and the 'main market', the market for more established companies. This book analyses the volatility of the alternative investment market, using a variety of techniques and approaches. It compares the volatility of stocks in the markets, exploring variables such as size, industry, age and market switches. Using refined methods to focus on the difference between the markets, the authors provide a convincing study to challenge the idea that the alternative investment market is higher risk than the main market.

Today, international investment law consists of a network of multifaceted, multilayered international treaties that, in one way or another, involve virtually every country of the world. The evolution of this network continues, raising a host of issues regarding international investment law and policy, especially in the area of international investment disputes. This Yearbook monitors current developments in international investment law and policy, focusing (in Part One) on trends in foreign direct investment (FDI), international investment agreements, and investment disputes, with a special look at developments in the oil and gas sector. Part Two, then, looks at central issues in the contemporary discussions on international investment law and policy. With contributions by leading experts in the field, this title provides timely, authoritative information on FDI that can be used by a wide audience, including practitioners, academics, researchers, and policy makers.

The papers in this volume cover three major areas of International Business: Developments in Theory, The Foreign Market Servicing Strategies of Multinational Firms and Asia-Pacific Issues. The theory section examines the internationalisation process, the role of management in international business theory, approaches to Japanese foreign direct investment and the contrast between the approach taken to international business by internalisation theorists and that of international strategic management. The choices between exporting, foreign licensing of technology and direct investment abroad are examined in Part II. The foreign market servicing decisions are examined both at the level of the firm and in aggregate at the level of an economy (the UK). The impact of these decisions on competitiveness is evaluated and the role of international joint ventures is examined for the case of the UK. The final section examines current issues in the Asia-Pacific economies. The impact of the Single European Market on Pacific Futures and Government-Business relations (Japan versus UK) are the focus of attention and the taxation implications of joint ventures in China are examined in detail.

Are you young and feeling left behind financially? It doesn’t have to be this way. The UK’s leading millennial money expert, Iona Bain, is on a mission to help young people own their futures, once and for all. Low wages, high house prices, zero reward for saving and the catastrophic fallout from Covid-19... young people have had a rough ride. But we have a choice. We can sleepwalk into a poorer future – or we can transform our prospects by embracing the power of investing. Iona is here to demystify savings, pensions and investing for a new generation. Whether it's robo-advisers or auto-enrolment, green investing or forex on Instagram, Iona will break down what it all means so YOU can take charge of your long-term finances. In this fun, wise and incredibly helpful book, Iona explains why investing matters. She also shows you how to get your basic finances right, save for your first home and make your pension socially responsible. You'll find out all about the rewards and risks of online investing, from sexy stockpicking apps to digital wealth managers, and learn how to manage your long-term finances so you can avoid major mistakes and achieve your goals. Investing often gets a bad rep thanks to the Wolf of Wall Street, social media scams and high-rolling money men. In fact, investing has never been more accessible, more interesting – and more important. It’s the single biggest thing that we can do to change our lives, and society, for the better. So what are you waiting for? Let’s start owning it!

This book describes the dramatic changes that have occurred in the exchange industry during the past two decades. The strategies adopted by major world exchanges during this period are explained and the roles of multilateral trading systems and over-the-counter (OTC) players are clearly described, highlighting their economics and their interconnections with traditional exchanges. Up-to-date, comprehensive comparisons are made of the performances of the main exchanges, and important governance issues are considered. In addition, threats and opportunities for major types of trading venue, deriving either from new regulatory approaches or from the surge in new markets, are presented and discussed with a view to forecasting future developments in the secondary market industry.The background to the book is the strong erosion in traditional profit drivers for exchanges produced by the progress in communications and trading technology. In many countries, regulation has reduced barriers to entry in the equity field, facilitating a surge in new players and a shift of liquidity toward alternative trading platforms and dark pools.

The chief investment officers (CIOs) at endowments, foundations, family offices, pension funds, and sovereign wealth funds are the leaders in the world of finance. They marshal trillions of dollars on behalf of their institutions and influence how capital flows throughout the world. But these elite investors live outside of the public eye. Across the entire investment industry, few participants understand how these holders of the keys to the kingdom allocate their time and their capital. What's more, there is no formal training for how to do their work. So how do these influential leaders practice their craft? What skills do they require? What frameworks do they employ? How do they make investment decisions on everything from hiring managers to portfolio construction? For the first time, Capital Allocators lifts the lid on this opaque corner of the investment landscape. Drawing on interviews from the first 150 episodes of the Capital Allocators podcast, Ted Seides presents the best of the knowledge, practical insights, and advice of the world's top professional investors. These insights include: The best practices for interviewing, decision-making, negotiations, leadership, and management. Investment frameworks across governance, strategy, process, data analysis, and uncertainty. The wisest and most impactful quotes from guests on the Capital Allocators podcast. Learn from the likes of the CIOs at the endowments of Princeton and Notre Dame, family offices of Michael Bloomberg and George Soros, pension funds from the State of Florida, CalSTRS, and Canadian CDPQ, sovereign wealth funds of New Zealand and Australia, and many more. Capital Allocators is the essential new reference manual for current and aspiring CIOs, the money managers that work with them, and everyone allocating a pool of capital.

A practitioner's guide to finding alpha in fixed income trading in emerging markets Emerging fixed income markets are both large and fast growing. China, currently the second largest economy in the world, is predicted to overtake the United States by 2030. Chinese fixed income markets are worth more than $11 trillion USD and are being added to global fixed income indices starting in 2019. Access for foreigners to the Indian fixed income market, valued at almost 1trn USD, is also becoming easier - a trend repeated in emerging markets around the world. The move to include large Emerging Market (EM) fixed income markets into non-EM benchmarks requires non-EM specialists to understand EM fixed income. Trading Fixed Income in Emerging Markets examines the principle drivers for EM fixed income investing. This timely guide suggests a more systematic approach to EM fixed income trading with a focus on practical trading rules on how to generate alpha, assisting EM practitioners to limit market-share losses to passive investment vehicles. The definitive text on trading EM fixed income, this book is heavily data-driven - every trading rule is thoroughly back-tested over the last 10+ years. Case studies help readers identify and benefit from market regularities, while discussions of the business cycle and typical EM events inform and optimise trading strategies. Topics include portfolio construction, how to apply ESG principles to EM and the future of EM investing in the realm of Big Data and machine learning. Written by practitioners for practitioners, this book: Provides effective, immediately-accessible tools Covers all three fixed income asset classes: EMFX, EM local rates and EM credit Thoroughly analyses the impact of the global macro cycle on EM investing Examines the influence of the financial rise of China and its fixed income markets Includes case studies of trades that illustrate how markets typically behave in certain situations The first book of its kind, Trading Fixed Income in Emerging Markets: A Practitioner's Guide is an indispensable resource for EM fund managers, analysts and strategists, sell-side professionals in EM and non-EM specialists considering activity in emerging markets.