The stock market is the golden goose that the rich rely on to stay rich. That’s why so many people believe that the stock market is an exclusive club, or that only professionals understand it well enough to succeed. But those days are long gone, and investing is more accessible than ever, as The Wise Investor proves.

In this book, bestselling author Moroka Modiba demystifies and simplifies investing in the stock market, lifting the curtain to reveal how straightforward it can be. The secret is already out there: buy low and sell high. The big questions are what to buy and when to buy. This book provides those answers and many more, using ordinary language to teach you to make informed investments that will enrich your life and those of your loved ones.

This is a book that readers of all ages will have wished they’d read earlier. With the wisdom provided in its pages, they’ll be able to invest with confidence and practise the patience required to get the best returns, knowing that it’s not about timing the market, but time in the market, that leads to investment success. The Wise Investor is essential reading for financial novices of any age who need a trustworthy and accessible guide to the stock market.

This book consists of the proceedings of the most recent Oxford Law Colloquium which was concerned with the global regulation of the securities market. It is particularly topical in the light of recent regulatory failures in financial markets, notably the collapse of Barings Bank. The contributors to this volume, experienced lawyers and economists from the USA and the UK, have produced essays which review and analyse recent developments and approaches to the legal and regulatory challenges.

Stochastic portfolio theory is a mathematical methodology for constructing stock portfolios, analyzing the behavior of portfolios, and understanding the structure of equity markets. Stochastic portfolio theory has both theoretical and practical applications: as a theoretical tool it can be used to construct examples of theoretical portfolios with specified characteristics, and to determine the distributional component of portfolio return. On a practical level, stochastic portfolio theory has been the basis for strategies used for over a decade by the institutional equity manager INTECH, where the author has served as chief investment officer. This book is an introduction to stochastic portfolio theory for investment professionals and for students of mathematical finance. Each chapter includes a number of problems of varying levels of difficulty and a brief summary of the principal results of the chapter, without proofs.

Mainstream financial economics has largely ignored the complex cognitive and motivational factors that guide investor trading decisions and that influence the structure and dynamics of world equity markets. Research shows, however, that investor psychology is reliably linked to predictable momentum and reversals in stock prices and, more generally, to stock market bubbles. The first volume reviews the scientific debate between leading behavioral scientists and proponents of rational markets and rational economic man. It also summarizes key elements of a new psychological theory of stock prices with special emphasis on the formation of investor beliefs and the quality of judgment. The articles in the second Volume support the behavioral approach with international evidence collected from many sources. Major anomalies in financial decision-making and in the behavior of equity markets are interpreted in the context of new experimental, empirical, and theoretical research.

A technical resource for self-directed traders who want to understand the scientific underpinnings of the filters and indicators used in trading decisions This is a technical resource book written for self-directed traders who want to understand the scientific underpinnings of the filters and indicators they use in their trading decisions. There is plenty of theory and years of research behind the unique solutions provided in this book, but the emphasis is on simplicity rather than mathematical purity. In particular, the solutions use a pragmatic approach to attain effective trading results. Cycle Analytics for Traders will allow traders to think of their indicators and trading strategies in the frequency domain as well as their motions in the time domain. This new viewpoint will enable them to select the most efficient filter lengths for the job at hand. * Shows an awareness of Spectral Dilation, and how to eliminate it or to use it to your advantage * Discusses how to use Automatic Gain Control (AGC) to normalize indicator amplitude swings * Explains thinking of prices in the frequency domain as well as in the time domain * Creates an awareness that all indicators are statistical rather than absolute, as implied by their single line displays * Sheds light on several advanced cookbook filters * Showcases new advanced indicators like the Even Better Sinewave and Decycler Indicators * Explains how to use transforms to improve the display and interpretation of indicators

This book examines four aspects of Malaysian consumers' financial vulnerabilities. First, it discusses the issue of over-indebtedness due to excessive reliance on consumer financing. Second, the book investigates why Malaysians are ill-prepared for their golden years in terms of retirement planning and savings. Third, it delves into the problem of financial fraud victimisation among Malaysian consumers. Fourth, the book analyses the reasons why Malaysians are underinsured despite the distinct benefits of life insurance. Drawing on secondary data from government agencies such as Bank Negara Malaysia, Employees' Provident Fund, Royal Malaysian Police and the Department of Statistics Malaysia, each chapter presents statistical trends reflecting the four financial vulnerabilities. In-depth analyses of the literature reveal three broad psychological domains (cognition, motivation, and disposition) and specific psychological factors (e.g. over-confidence, self-control, social norms, and financial literacy) that significantly influence consumers' financial decisions. The four financial vulnerabilities investigated in this book directly address the strategic outcomes of the Malaysian National Strategy for Financial Literacy 2019-2023 (MNSFL), a five-year plan to elevate the financial literacy of Malaysians. Finally, the book presents strategic recommendations that are believed to be useful guidelines for relevant policymakers to promote positive financial behaviours and rational attitudes among consumers. It will be a useful resource for policymakers and researchers interested in economic psychology and behavioural finance.

* International approach, with examples and cases from the US, Europe and Africa * Each chapter contains objectives, case studies, discussion questions and further reading suggestions. * PPT slides and data sets available as digital supplements

This volume, inspired by and dedicated to the work of pioneering investment analyst, Jack Treynor, addresses the issues of portfolio risk and return and how investment portfolios are measured. In a career spanning over fifty years, the primary questions addressed by Jack Treynor were: Is there an observable risk-return trade-off? How can stock selection models be integrated with risk models to enhance client returns? Do managed portfolios earn positive, and statistically significant, excess returns and can mutual fund managers time the market? Since the publication of a pair of seminal Harvard Business Review articles in the mid-1960's, Jack Treynor has developed thinking that has greatly influenced security selection, portfolio construction and measurement, and market efficiency. Key publications addressed such topics as the Capital Asset Pricing Model and stock selection modeling and integration with risk models. Treynor also served as editor of the Financial Analysts Journal, through which he wrote many columns across a wide spectrum of topics. This volume showcases original essays by leading researchers and practitioners exploring the topics that have interested Treynor while applying the most current methodologies. Such topics include the origins of portfolio theory, market timing, and portfolio construction in equity markets. The result not only reinforces Treynor's lasting contributions to the field but suggests new areas for research and analysis.

- The first book to contextualize business support of the arts within the evolution of CSR - The book will appeal to a wide variety of readers interested in culture, society and capitalism, including - The first book in almost 20 years to examine the relationship of business and the arts in an historical context

- The first book to contextualize business support of the arts within the evolution of CSR - The book will appeal to a wide variety of readers interested in culture, society and capitalism, including - The first book in almost 20 years to examine the relationship of business and the arts in an historical context

3i (Investors in Industry, and formerly the Industrial and Commercial Finance Corporation, etc.) is Britain's leading venture capital company. Founded in 1945 as a result of a combination of pressures and counter-pressures from political parties, Whitehall, the Bank of England, and the clearing banks, the organization has played a significant role in post-war investment banking and industrial development.
The first part of the book traces its history from the early years of post-war reconstruction and the role played by Piercy and Kinross, through the years of consolidation, to the higher-profile years of the change of name and style and the 1994 flotation. The second part offers an inside view of the workings of this unique institution - the controllers, 3i's role in developing MBOs, methods of assessing risk and return, its relationship with capital markets, etc.
During its first 50 years 3i has invested in numerous well known and successful companies - many of these are detailed in the text (British Caledonian, Oxford Instruments, Laura Ashley, etc.). The book is also elegantly and innovatively designed, making good use of the well known 3i cartoons.

This volume offers an authoritiative selection of the best published articles on the great speculative manias and stock market crashes, which highlights their important similarities. These phenomena disrupt the normal activities of investors who use financial markets to accumulate diversified portfolios of assets. The attraction of rapid capital gains entices the unwary to abandon their customary investments, exposing them to ruin when prices of hot new assets collapse. The mania for tulips in seventeenth century Holland and schemes to refinance government debt in eighteenth century France and Britain burned many investors and transformed financial markets. The volatile American stock market of the nineteenth century and bursting regional real estate bubbles brought down many financial institutions, threatening economic stability. The striking parallels between the stock market crashes of 1929 and 1987 raise basic questions about the stability of the capital markets. By examining whether these phenomena represent rational movements of the market or some mania or fad, these articles focus on the central policy question of whether these markets require regulation to serve the investing public.

Extraordinary growth of the financial relative to the nonfinancial sector has marked the development of mature capitalism during the last four decades. The changing balance between the two sectors has altered the outlook of the economy and facilitated the spread of financial concerns, practices, and outlooks across society. The result has been the gradual transformation of contemporary capitalism - namely, its financialization since the late 1970s. There are similarities between the Marxian, the Post-Keynesian and other heterodox approaches to analyzing the profound changes in money and finance in the global economy since the 1980s. Prominent among them is a common focus on financialization but also on the limits of monetary policy, the transformation of banking, the tendency to crisis related to financial excess, and the problematic role of neoliberalism in finance. Furthermore, the complexity of the interrelationship between finance and the rest of the economy has increased since the great crisis of 2007-9. This book tackles several of these developments as well as engaging in debate among different currents of heterodox economics. The chapters in this book were originally published in The Japanese Political Economy.

Predicting foreign exchange rates has presented a long-standing challenge for economists. However, the recent advances in computational techniques, statistical methods, newer datasets on emerging market currencies, etc., offer some hope. While we are still unable to beat a driftless random walk model, there has been serious progress in the field. This book provides an in-depth assessment of the use of novel statistical approaches and machine learning tools in predicting foreign exchange rate movement. First, it offers a historical account of how exchange rate regimes have evolved over time, which is critical to understanding turning points in a historical time series. It then presents an overview of the previous attempts at modeling exchange rates, and how different methods fared during this process. At the core sections of the book, the author examines the time series characteristics of exchange rates and how contemporary statistics and machine learning can be useful in improving predictive power, compared to previous methods used. Exchange rate determination is an active research area, and this book will appeal to graduate-level students of international economics, international finance, open economy macroeconomics, and management. The book is written in a clear, engaging, and straightforward way, and will greatly improve access to this much-needed knowledge in the field.

The aim and object of every trader who enters Wall Street is to make money, yet it is a well-known fact that a large percentage of traders lose money. There are many reasons for their losses. One of the most important is that they do not know how to select the right stocks to buy and sell at the right time. I expect to give rules provable and practical which will help traders to study and learn how to select the proper stocks to buy and sell with a minimum of risk.

The main object of this book is to bring TRUTH OF THE STOCK TAPE up to date and give the investor and trader the benefit of seven more years of my experience, which has been valuable to me, and if the reader will profit by my experience, it will prove valuable to him.

In this life we must have some definite aim or hope to attain happiness. Money will not bring all of it. Neither can we always help others with money. The best way that I know of to help others is to show them how to help themselves. Therefore, knowledge and understanding properly imparted to others is the greatest good that we can do for them and at the same time do good for ourselves. Thousands of people have written me that I have helped them through TRUTH OF THE STOCK TAPE. I believe the WALL STREET STOCK SELECTOR will give you more knowledge, will bring you more happiness through money gained, than any other book. If it does, I will be well repaid for my labor.

- W. D. GANN

The new edition of the definitive reference to trading systems--expanded and thoroughly updated. Professional and individual traders haverelied on Trading Systems and Methods for over three decades. Acclaimed trading systems expert Perry Kaufman provides complete, authoritative information on proven indicators, programs, systems, and algorithms. Now in its sixth edition, this respected book continues to provide readers with the knowledge required to develop or select the trading programs best suited for their needs. In-depth discussions of basic mathematical and statistical concepts instruct readers on how much data to use, how to create an index, how to determine probabilities, and how best to test your ideas. These technical tools and indicators help readers identify trends, momentum, and patterns, while an analytical framework enables comparisons of systematic methods and techniques. This updated, fully-revised edition offers new examples using stocks, ETFs and futures, and provides expanded coverage of arbitrage, high frequency trading, and sophisticated risk management models. More programs and strategies have been added, such as Artificial Intelligence techniques and Game Theory approaches to trading. Offering a complete array of practical, user-ready tools, this invaluable resource: Offers comprehensive revisions and additional mathematical and statistical tools, trading systems, and examples of current market situations Explains basic mathematical and statistical concepts with accompanying code Includes new Excel spreadsheets with genetic algorithms, TradeStation code, MetaStock code, and more Provides access to a companion website packed with supplemental materials Trading Systems and Methods is an indispensable reference on trading systems, as well as system design and methods for professional and individual active traders, money managers, trading systems developers.

The bond market is a key securities market and emerging economies present exciting, new investment opportunities. This timely book provides insights into these emerging bond markets through empirical models and analytical databases, i.e. Bloomberg, Eikon Refinitiv and the Russian Cbonds. The book looks at the dynamics of the development of emerging bond markets, their competitiveness, features and patterns using macro and micro level data. It also takes into consideration various securities type i.e. government, corporate, sub-federal and municipal bonds, to identify respective challenges and risks. The book also analyses factors that may inhibit or stimulate a well-balanced financial market. It includes case studies of Asian, Latin American and Russian bond markets, as also as cross-country comparisons. It will be a useful reference for anyone who is interested to learn more of the bond market and the modelling techniques for critical data analysis.

Arnaboldi highlights the importance of one of the three pillars of the Banking Union, the common mechanism for insuring deposits. She claims that integrated financial markets require a European solution with regard to deposit insurance and that the establishment of a pan-European scheme could address the problems for large cross-border banks.

Computational Finance Using C and C#: Derivatives and Valuation, Second Edition provides derivatives pricing information for equity derivatives, interest rate derivatives, foreign exchange derivatives, and credit derivatives. By providing free access to code from a variety of computer languages, such as Visual Basic/Excel, C++, C, and C#, it gives readers stand-alone examples that they can explore before delving into creating their own applications. It is written for readers with backgrounds in basic calculus, linear algebra, and probability. Strong on mathematical theory, this second edition helps empower readers to solve their own problems. *Features new programming problems, examples, and exercises for each chapter. *Includes freely-accessible source code in languages such as C, C++, VBA, C#, and Excel.. *Includes a new chapter on the history of finance which also covers the 2008 credit crisis and the use of mortgage backed securities, CDSs and CDOs. *Emphasizes mathematical theory.

Build or brush up on the foundation you need to be a sophisticated fixed income professional with this proven book Fixed Income Securities: Tools for Today's Markets has been a valued resource for practitioners and students for over 25 years. Clearly written, and drawing on a myriad of real market examples, it presents an overview of fixed income markets; explains the conceptual frameworks and quantitative tool kits used in the industry for pricing and hedging; and examines a wide range of fixed income instruments and markets, including: government bonds; interest rate swaps; repurchase agreements; interest rate futures; note and bond futures; bond options and swaptions; corporate bonds; credit default swaps; and mortgages and mortgage-backed securities. Appearing a decade after its predecessor, this long-awaited Fourth Edition is comprehensively revised with: An up-to-date overview, including monetary policy with abundant reserves and the increasing electronification of market All new examples, applications, and case studies, including lessons from market upheavals through the pandemic New material on fixed income asset management The global transition from LIBOR to SOFR and other rates

"Building wealth is about managing our careers and the money we make. It all starts with the understanding that we build wealth primarily for two reasons: 1) to build prosperity and 2) to afford a comfortable retirement. Saving and investing to build prosperity is what we do to improve the quality and independence in our lives. Each of us measures quality and independence in our own terms-to some it means being able to afford big-ticket expenses, such as a dream home or supporting a favorite charity. To others it might mean making money work for us so that we don't have to work for it."

We save and invest for retirement because, at some point in the future, we will choose to stop working and will need to replace the salary we currently earn. Saving and investing to afford a comfortable retirement is an obligation we have to ourselves. It is important to realize that we have no choice but to get on track saving and investing for retirement. We will be depending on it for survival in the later years of our life-considering how much longer people live with every passing decade, saving and investing is becoming increasingly more important.

In spite of theoretical benefits, Markowitz mean-variance (MV) optimized portfolios often fail to meet practical investment goals of marketability, usability, and performance, prompting many investors to seek simpler alternatives. Financial experts Richard and Robert Michaud demonstrate that the limitations of MV optimization are not the result of conceptual flaws in Markowitz theory but unrealistic representation of investment information. What is missing is a realistic treatment of estimation error in the optimization and rebalancing process. The text provides a non-technical review of classical Markowitz optimization and traditional objections. The authors demonstrate that in practice the single most important limitation of MV optimization is oversensitivity to estimation error. Portfolio optimization requires a modern statistical perspective. Efficient Asset Management, Second Edition uses Monte Carlo resampling to address information uncertainty and define Resampled Efficiency(TM) (RE) technology. RE optimized portfolios represent a new definition of portfolio optimality that is more investment intuitive, robust, and provably investment effective. RE rebalancing provides the first rigorous portfolio trading, monitoring, and asset importance rules, avoiding widespread ad hoc methods in current practice. The Second Edition resolves several open issues and misunderstandings that have emerged since the original edition. The new edition includes new proofs of effectiveness, substantial revisions of statistical estimation, extensive discussion of long-short optimization, and new tools for dealing with estimation error in applications and enhancing computational efficiency. RE optimization is shown to be a Bayesian-based generalization and enhancement of Markowitz's solution. RE technology corrects many current practices that may adversely impact the investment value of trillions of dollars under current asset management. RE optimization technology may also be useful in other financial optimizations and more generally in multivariate estimation contexts of information uncertainty with Bayesian linear constraints. Michaud and Michaud's new book includes numerous additional proposals to enhance investment value including Stein and Bayesian methods for improved input estimation, the use of portfolio priors, and an economic perspective for asset-liability optimization. Applications include investment policy, asset allocation, and equity portfolio optimization. A final chapter includes practical advice for avoiding simple portfolio design errors. A simple global asset allocation problem illustrates portfolio optimization techniques. The presentation is intuitive, rigorous and informed with institutional management experience to appeal to investment management executives, consultants, fund trustees, brokers, academics, and anyone seeking to stay abreast of the future of investment technology. With its important implications for investment practice, Efficient Asset Management's highly intuitive yet rigorous approach to defining optimal portfolios will appeal to investment management executives, consultants, brokers, and anyone seeking to stay abreast of current investment technology. Through practical examples and illustrations, Michaud and Michaud update the practice of optimization for modern investment management.