Smart financial strategies that can secure your financial future

There are more than 600 exchange traded funds on the market today, and new ones are opening every day. Total worldwide invested assets in ETFs now tops $500 billion. Written in a straightforward and accessible style, "Super Sectors" outlines a specialized trading system that utilizes standard and leveraged exchange traded funds in an easy-to-follow plan, so that you can identify and invest in the hottest sectors in the world.In this book, author John Nyaradi skillfully shows you how to use ETFs to take advantage of businesses and sectors that are profiting, while also minimizing risk by getting out of the same areas before they start to decline. Along the way, Nyaradi reveals how to best analyze different sectors, such as technology, utilities, industrial, energy, services, and finance, and then discusses which ETFs can help you profit from the opportunities these sectors present. The book: - Outlines an active investment management strategy that will allow you to generate steady success in any market- Details how different types of businesses profit and suffer during different business cycles- Explores how sectors rotation strategies and exchange traded funds can put you in a better position to excel financially- Includes interviews with key expertsThe "buy-and-hold" strategy of yesterday won't work in today's investment environment. Nyaradi identifies the strongest potential sectors in the future. Find out what will work with "Super Sectors" as your guide.

This is not just another book with yet another trading system. This is a complete guide to developing your own systems to help you make and execute trading and investing decisions. It is intended for everyone who wishes to systematise their financial decision making, either completely or to some degree. Author Robert Carver draws on financial theory, his experience managing systematic hedge fund strategies and his own in-depth research to explain why systematic trading makes sense and demonstrates how it can be done safely and profitably. Every aspect, from creating trading rules to position sizing, is thoroughly explained. The framework described here can be used with all assets, including equities, bonds, forex and commodities. There is no magic formula that will guarantee success, but cutting out simple mistakes will improve your performance. You'll learn how to avoid common pitfalls such as over-complicating your strategy, being too optimistic about likely returns, taking excessive risks and trading too frequently. Important features include: - The theory behind systematic trading: why and when it works, and when it doesn't.- Simple and effective ways to design effective strategies. - A complete position management framework which can be adapted for your needs. - How fully systematic traders can create or adapt trading rules to forecast prices. - Making discretionary trading decisions within a systematic framework for position management. - Why traditional long only investors should use systems to ensure proper diversification, and avoid costly and unnecessary portfolio churn. - Adapting strategies depending on the cost of trading and how much capital is being used. - Practical examples from UK, US and international markets showing how the framework can be used. Systematic Trading is detailed, comprehensive and full of practical advice. It provides a unique new approach to system development and a must for anyone considering using systems to make some, or all, of their investment decisions.

During the 1980s, and particularly since the market crash of 1987, corporations and entrepreneurs have been seeking new ways to finance the establishment and growth of new businesses. One of the outcomes of these efforts has been the hybrid security, generically called dequity because it is neither a bond nor a stock. In this work, Andrew Chen and John Kensinger examine the various forms of dequity, describing its characteristics, how it evolved, how it's being used, and what the future may hold for it.

In looking at the many financial innovations that blended the traits of debt and equity, Chen and Kensinger find three revolutionary changes that took place in the '80s: the use of debt to increase equity ownership by employees; the transfer of control over corporate resources from managers to lenders; and the shift from owning assets indirectly through corporate stock toward direct ownership of production assets by investors. They fully explore the increased specialization of roles that has resulted in employee control of companies, as well as detailing such practical issues as the tax advantage of leveraged ESOP, the value of organizational capital, innovative methods for reducing the cost of going public, and the benefits of R&D limited partnerships. This is the first book to fully analyze the development of dequity, and will be an important reference source for a variety of individuals, including investment bankers, corporate financial executives, institutional investors, and students of finance and banking.

A firM's value consists of its assets-in-place and growth opportunities: its investment opportunity set. IOS plays a major role in determining a firM's corporate and accounting strategies, and how the marketplace reacts to them. Riahi-Belkaoui shows how IOS can be examined, measured, and used as one way to understand the various accounting and nonaccounting strategies espoused by management. His book fills a gap in the literature on this timely and provocative topic, and provides useful knowledge for upper management, academics, and graduate-level students.

The importance of the IOS concept is beginning to be acknowledged in the literature of empirical accounting, finance, and management. There, the investment opportunity set is introduced as an explanatory or moderating variable of the relationship between accounting and economic phenomena and various predictor variables. Riahi-Belkaoui explicates a concept of growth opportunities or IOS (Chapter 1) and provides a general model for its measurement (Chapter 2). He shows its role in a general valuation model based on dividend yield and price earnings ratio (Chapter 3), in the relationship between profitability and multinationality (Chapter 4), in the determination of capital structure (Chapter 5), in a general model of international production (Chapter 6), in a general model of corporate disclosure (Chapter 7), in the relationship between systematic risk and multinationality (Chapter 8), in a model of reputation building (Chapter 9), and earnings management (Chapter 10). He goes on to discuss its role in explaining the relative market value compared to the accounting value of a multinational firm in Chapter 11, and in differentiating between the usefulness of accrual and cash flow based on valuation models in Chapter 12.

While new technology and complicated theories promise to take your trading to "the next level," the truth is that long-term success in this field is rooted in simplicity. That's why Al Brooks has created "Reading Price Charts Bar by Bar."

With this book, Brooks--a technical analyst for Futures magazine and an independent trader--demonstrates how applying price action analysis to chart patterns can help enhance returns and minimize downside risk. Along the way, you'll discover the importance of understanding every bar on a price chart, why particular patterns are reliable setups for trades, and how to locate entry and exit points as markets are trading in real time.

Throughout these pages, some of the most useful tools for deciphering price action are covered in detail, including:

Trendlines and trend channel lines

Prior highs and lows

Breakouts and failed breakouts

The size of bodies and tails on candles

The relationship between current bars to prior bars

And much more

Learning what the market is telling you can be difficult, but with the right approach, you can achieve this goal and capture consistent profits in the process. "Reading Price Charts Bar by Bar" has all the information you need to succeed at this endeavor and will put you in the best position possible to make the most of your time in today's turbulent markets.

Praise for "Reading Price Charts Bar by Bar"

"Al Brooks has written a book every day trader should read. On all levels, he has kept trading simple, straightforward, and approachable. By teaching traders that there are no rules, just guidelines, he has allowed basic common sense to once again rule how real traders should approach the market. This is a must-read for any trader that wants to learn his own path to success."
--Noble DraKoln, founder ofwww.SpeculatorAcademy.com and author of "Trade Like a Pro" and "Winning the Trading Game"

"Al Brooks is a trader's trader. He understands the focused energy it takes to be successful at trading and works long, hard hours in front of the computer screen to beat the markets. In his first trading book, he outlines, selflessly, his strategy step by step. A doctor and educator in his previous life, he uses his eye for detail and transfers lessons he learned in training himself on the art of trading to the written page. For those who are willing to delve into the details of day trading and dedicate the time and energy to do it seriously and most likely profitably, Al Brooks's book "Reading Price Charts Bar by Bar," is a must-read."
--Ginger Szala, Publisher and Editorial Director, "Futures" magazine

Praise for the Classic Guide to the Bond Market

"This is simply the most comprehensive, useful look-it-up book on municipal bonds I’ve ever read (said with all due respect to The ABC of Municipal Bonds my dad wrote in 1937 when I was nine). Read Fundamentals cover to cover. I’m keeping mine in my briefcase, under my arm, at my fingertips. No accountant, financial advisor, attorney, new bond salesman, reporter, regulator, test-writer, cautious, suspicious first-time investor in municipal bonds, or dinner guest is ever going to catch me again with a question about municipal bonds I can’t answer."–Jim Lebenthal, Chairman, Lebenthal & Co.

"Judy Wesalo Temel gives us the Rosetta stone of the municipal bond market, the key to unraveling the many mysteries of ‘muni’s.’ Her book, a fresh take on the old standard Fundamentals of Municipal Bonds, updates chapter and verse on everything from investing to underwriting, from over-the-counter to over-the-Internet. The style is clean, crisp, and as simple as this complex subject can be. Are you a novice who wonders how to invest in bonds? She lays out the basics. Examples are easy to follow–even the mathematical ones that are critical to explaining how municipal bonds work. At the same time, there is plenty of meat for the pros. Whether you need to start from square one and learn all about municipal bonds and how they work, or need a ready reference for specific technical questions you run across as a market professional, this book is for you."–Kathleen Hays, Economics Editor, Credit Markets Reporter, and "Bond Belle" CNBC

"This is a must-read for every scholar, banker, and public official concerned with local government finance in the United States. Judy Wesalo Temel has done the impossible: she has clearly and insightfully explained how we finance the development of the nation's vital public infrastructure. This is an important book, one that will be required reading for professionals responsible for planning, designing, and evaluating publicly financed projects–the health care, transportation, and educational facilities that all citizens rely upon. The bond market is an essential element in the life of local and state government, and this book makes it understandable to all Americans."–Mitchell Moss, Henry Hart Rice Professor of Urban Planning and Director, Taub Urban Research Center, Robert F. Wagner Graduate School of Public Service, New York University

This is an intellectual biography of G.L.S. Shackle, economic theorist, philosopher, and historian of economic theory. It explores how Shackle challenged the aims, methods and assumptions of mainstream economics. He stressed macroeconomic instability, and developed a radically subjectivist theory for behavioural economics and business planning.

Traders caught at the crossroads of traditional, proven, trading techniques - and new online tools and methods - have struggled to find a way of blending the two together into a unified trading system. Now, the marriage of the methods is complete, and brought into sharp focus in New Frontiers in Fibonacci Trading. This groundbreaking new work combines the foundations of Fibonacci trading with classic charting techniques, modern applications, and cutting edge online analysis tools.Michael has gone beyond his role as 'student" of the markets - becoming a gifted teacher in the process. He has not only mastered traditional charting and timing techniques - he's developed new methods of his own by adopting Fibonacci fundamentals to the online trading arena in which today's trader must operate for maximum advantage. He's broken down his process into an understandable 5-part 'system" which encompasses.- The Building Blocks of Price Action - market structures, retracement patterns and Fibonacci basics- Practical Fibonacci Applications - featuring original new applications explained in simple terms- 'ChartWorks" - a comprehensive charting section featuring indicators, case-study trades, chart-reading tips - and more- Building Good Trading Habits - 3 key steps for making rational, unemotional decisions and maintaining a steady, clear-headed focus throughout the trading day - even when the market is giving off mixed messages- Enthios RealTime - Puts all the pieces together, and introduces new methods that form the core of his own propriety 'Objective Method Trading System"With detailed charts and graphics throughout, each chapter illustrates real trading situations, setups, and solutions. Michael has fused cherished trading concepts and Fibonacci basics with his own experiences in online, real-time trading. The result is a thorough new primer that shows you how to trade with greater success - on a consistent basis.

'How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.' - Robert G. Allen, investment advisor and author of Multiple Streams of Income In many people's thinking, the financial markets are reserved only for the wealthy or people with financial or economic backgrounds. They discard the idea of becoming involved in trading because they perceive it to be too difficult. But Ross Larter, author of How to Make Money on the Stock Exchange, believes that the markets provide opportunities for everyone to generate income. Learning the skills of trading on the stock market can provide you with the opportunity to generate an income well into your retirement years. To those who have walked the journey for a while, the stock market becomes like an all-you-can-eat buffet, providing opportunity on a daily basis for individuals to make money for themselves and their families. How to Make Money on the Stock Exchange is written for ordinary people, in everyday language, to help them understand how the stock market works, and how to use this knowledge to acquire the necessary skills to generate a secondary (and potentially a primary) income by investing and/or trading on the markets. You don't need to be a financial whizz-kid to make money on the stock market. All you have to do is be willing, and take the time, to learn about it. This book will show you how.

The definitive report on what caused America's economic meltdown- and who was responsible.

The financial and economic crisis has touched the lives of millions of Americans who have lost their jobs and their homes, but many have little understanding of how it happened. Now, in this very accessible report, readers can get the facts. Formed in May 2009, the Financial Crisis Inquiry Commission (FCIC) is a panel of 10 commissioners with experience in business, regulations, economics, and housing, chosen by Congress to explain what happened and why it happened. This panel has had subpoena power that enabled them to interview people and examine documents that no reporter had access to.

The FCIC has reviewed millions of pages of documents, and interviewed more than 600 leaders, experts, and participants in the financial markets and government regulatory agencies, as well as individuals and businesses affected by the crisis.

In the tradition of The 9/11 Commission Report, The Financial Crisis Inquiry Report will be a comprehensive book for the lay reader, complete with a glossary, charts, and easy-to-read diagrams, and a timeline that includes important events. It will be read by policy makers, corporate executives, regulators, government agencies, and the American people

The second edition of "An Introduction to Credit Derivatives" provides a broad introduction to products and a marketplace that have changed significantly since the financial crisis of 2008. Author Moorad Choudhry gives a practitioner's perspective on credit derivative instruments and the risks they involve in a succinct style without sacrificing technical details and scientific precision.

Beginning with foundational discussions of credit risk, credit risk transfer and credit ratings, the book proceeds to examine credit default swaps and related pricing, asset swaps, credit-linked notes, and more. Ample references, appendices and a glossary add considerably to the lasting value of the book for students and professionals in finance.
A post-crisis guide to a powerful bank risk management product, its history and its useLiberal use of Bloomberg screens and new worked examples increase hands-on practicalityNew online set of CDS pricing models and other worksheets multiply the book's uses

Africans Investing in Africa explores intra-African trade and investment by showing how, where and why Africans invest across Africa; to identify the economic, political and social experiences that hinder or stimulate investment; and to highlight examples of pan-African investors.

"This book fills a very important gap in the mindset of the bond structurer and the investor. Often, the two disciplines approach their tasks ignorant of the perspectives of the other side. But successful structuring requires providing the best value to investors in order to compete, and investors who don’t fully understand structuring will not remain investors for long. Highly recommended!"
–Bennett W. Golub
Managing Director, BlackRock, Inc.

"An excellent primer on asset securitization, clearly written in plain English and with straightforward mathematical expressions. This book is suitable for both business school students and structured finance market practitioners."
–Joseph Hu, PhD
Managing Director, Structured Finance Ratings
Standard & Poor’s

"In their new work Securitization: Structuring and Investment Analysis, Andrew Davidson et al. reinforce their preeminence in the alchemy of mortgage securitization. Anyone involved in mortgages neglects Andy’s work at his peril."
–Richard T. Pratt
Chairman, Richard T. Pratt Associates
Former Chairman, Merrill Lynch Mortgage Corporation

"This book provides an insightful and accessible exploration of securitized real estate markets. As such, it provides a valuable service to those active and interested in these burgeoning markets. The authors have done a wonderful job of gracefully integrating a vast and important subject matter. Accordingly, this book also makes for an excellent textbook for those universities offering one or more courses in this rapidly growing field."
–Joseph L. Pagliari, Jr.
Kellogg School of Management
Northwestern University

Written for international business managers and executives, this book offers a comprehensive and authoritative discussion of foreign direct investment in the People's Republic of China. The authors note at the outset that although the events of Tiananmen Square brought both trade and investment to a virtual standstill, new investment is now again flowing into China (but at a guarded pace). For those wishing to pursue the numerous opportunities that still exist, this volume offers a full analysis of the risks involved, a thorough treatment of the different forms of investment activities in China, complete coverage of China's investment policies and incentives, and specific case studies of foreign direct investment in China.

The authors begin by providing an overview of the Open Door Policy and China's economic and managerial systems. Next, they discuss special economic zones and open cities; investment policies, such as flexible foreign ownership and choice of investment location; new incentives after 1986; and investment motivations. The modes of foreign investment covered include equity joint ventures, contractual joint ventures, wholly foreign-owned enterprises, joint oil exploration, compensation, and trade. Separate chapters analyze foreign investment inflows, identify the organizations involved in foreign investment, describe investment negotiation and approval procedures, and provide a detailed example of a joint venture feasibility study. Three case studies and an evaluation of the outlook for future foreign investment in China complete the volume. Numerous explanatory tables and figures amplify points made in the text. Two appendixes provide a sample contract and articles of association for joint ventures in China and the regulations for development and opening of the Shanghai Pudong New Area. A third appendix lists the rules for the implementation of Chinese law on wholly foreign-owned enterprises in China.

The book provides an excellent guide to avoiding bear markets. It also provides new asset allocation techniques that demonstrate methods to outperform the general stock market averages over time, with less risk.

The long-closed stock market of South Korea opened its doors to foreign investors in January 1992. Due to the success of the Korean economy during the past two decades, the country provides many new and exciting opportunities for foreign investors. This is the first book published in the United States that provides a comprehensive coverage of the Korean securities market. In addition to the structure and trading system of the Korean securities market, the other topics covered range from the Korean economy to a performance analysis of the stock market during the past ten years.

The book starts with a discussion of the economic development of South Korea since 1962, which gives an overall picture of the history and current status of the Korean economy. A historical review of the Korean securities market is the next topic, followed by in-depth coverage of administration, laws and taxes, and the trading system of the Korean securities market. A financial analysis of the listed companies and descriptive comments on each industry are provided in chapters 9, 16, and 17. Some miscellaneous topics are covered in the later chapters. These topics include the over-the-counter market, securities financing, securities investment trust, and investment advisory business.

Richard H. Lawrence, Jr. founded Overlook Investments in Hong Kong in 1991. Since inception, Overlook has grown at 14.3% per year for three decades-a remarkable record of growth that is testament to a consistent ability to find and invest in Asia's best companies. This raises two important questions: How did Overlook achieve its success; and how can Overlook best ensure future success? Now, in a level of detail never before disclosed, Richard and the Overlook executive team turn the lens inward to analyse The Overlook Model. They describe the philosophies, practices and people that drive Overlook's outperformance. Welcome to The Model . The Model is composed primarily of stories-of the people, companies, executives and events that have punctuated three decades at Overlook. There are stories of success, but also stories of problems and failure. This is how Overlook learned and grew. The two principal stories are a pulsating case study of the voracious 1997/98 Asian Crisis; and an extended review of TSMC, Asia's finest public company. A sharp focus is also placed on the constituent elements of The Overlook Model: Overlook's Investment Philosophy and Business Practices, which add up to Overlook's Margin of Safety. This analysis of investment theory-how an investment management company should be run-illustrates how Overlook is able to say with confidence that it can nearly guarantee delivery of outperformance to its investors. And where would Overlook be without China? Overlook's experiences in Asia reflect the ways that Overlook's methods of investing have succeeded while Asia grew and matured over the past three decades. For this reason, The Model contains a series of chapters charting Overlook's path in China. Finally, the Overlook executives provide a series of delightful chapters including The Art of Selling; an interview with Jeffrey Lu Minfang; a panel discussion on Overlook's home city of Hong Kong; and thoughts on ESG. The Model is a celebration of three decades of success in investing in Asia. It gives Richard Lawrence, along with James Squire, Leonie Foong and William Leung, the opportunity to answer: Just how did Overlook do it; and can Overlook keep doing it in the future?

A former member of the American Stock Exchange introduces trading and financial markets to upper-division undergraduates and graduate students who are planning to work in the finance industry. Unlike standard investment texts that cover trading as one of many subjects, "Financial Trading and Investing"gives primary attention to trading, trading institutions, markets, and the institutions that facilitate and regulate trading activities what economists call "market microstructure." Thetext will be accompanied by a website that can be used in conjunction with "TraderEx," "Markit," "StocklinkU," "Virtual Trade," "Vecon Lab Experiment," "Tradingsim," "IB Student Trading Lab," "Brenexa," "Stock Trak "and "How the Market Works."
Introduces the financial markets and the quantitative tools used in them so students learn how the markets operate and gain experience with their principal toolsHelps students develop their skills with the most popular trading simulation programs so they can reuse the book to solve day-to-day problems Stretches from investor behavior to hedging strategies and noise trading, capturing recent advances in an up-to-date reference source"