Over the years, market developments have proven the wisdom of Graham’s strategies. While preserving the integrity of Graham’s original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today’s market, draws parallels between Graham’s examples and today’s financial headlines, and gives readers a more thorough understanding of how to apply Graham’s principles.
Vital and indispensable, The Intelligent Investor is the most important book you will ever read on how to reach your financial goals.
Michael Lewis creates a fresh, character-driven narrative brimming with indignation and dark humor, a fitting sequel to his #1 bestseller Liar's Poker. Out of a handful of unlikely-really unlikely-heroes, Lewis fashions a story as compelling and unusual as any of his earlier bestsellers, proving yet again that he is the finest and funniest chronicler of our time.
This revised and updated edition adds commentary on hot topics, including the current economic crisis, globalization, the economics of information, the intersection of economics and politics, and the history—and future—of the Federal Reserve.
The Money Book for the Young, Fabulous & Broke is financial expert Suze Orman's answer to a generation's cry for help. They're called "Generation Debt" and "Generation Broke" by the media — people in their twenties and thirties who graduate college with a mountain of student loan debt and are stuck with one of the weakest job markets in recent history. The goals of their parents' generation — buy a house, support a family, send kids to college, retire in style — seem absurdly, depressingly out of reach. They live off their credit cards, may or may not have health insurance, and come up so far short at the end of the month that the idea of saving money is a joke. This generation has it tough, without a doubt, but they're also painfully aware of the urgent need to take matters into their own hands.
The Money Book was written to address the specific financial reality that faces young people today and offers a set of real, not impossible solutions to the problems at hand and the problems ahead. Concisely, pragmatically, and without a whiff of condescension, Suze Orman tells her young, fabulous & broke readers precisely what actions to take and why. Throughout these pages, there are icons that direct readers to a special YF&B domain on Suze's website that offers more specialized information, forms, and interactive tools that further customize the information in the book. Her advice at times bucks conventional wisdom (did she just say use your credit card?) and may even seem counter-intuitive (pay into a retirement fund even though your credit card debt is killing you?), but it's her honesty, understanding, and uncanny ability to anticipate the needs of her readers that has made her the most trusted financial expert of her day.
Over the course of ten chapters that can be consulted methodically, step-by-step or on a strictly need-to-know basis, Suze takes the reader past broke to a secure place where they'll never have to worry about revisiting broke again. And she begins the journey with a bit of overwhelmingly good news (yes, there really is good news): Young people have the greatest asset of all on their side — time.
Icelanders wanted to stop fishing and become investment bankers. The Greeks wanted to turn their country into a pinata stuffed with cash and allow as many citizens as possible to take a whack at it. The Germans wanted to be even more German; the Irish wanted to stop being Irish.
Michael Lewis's investigation of bubbles beyond our shores is so brilliantly, sadly hilarious that it leads the American reader to a comfortable complacency: oh, those foolish foreigners. But when he turns a merciless eye on California and Washington, DC, we see that the narrative is a trap baited with humor, and we understand the reckoning that awaits the greatest and greediest of debtor nations.
Bitcoin, the first successful decentralized digital currency, is still in its early stages and yet it’s already spawned a multi-billion-dollar global economy open to anyone with the knowledge and passion to participate. Mastering Bitcoin provides the knowledge. You simply supply the passion.
The second edition includes:A broad introduction of bitcoin and its underlying blockchain—ideal for non-technical users, investors, and business executivesAn explanation of the technical foundations of bitcoin and cryptographic currencies for developers, engineers, and software and systems architectsDetails of the bitcoin decentralized network, peer-to-peer architecture, transaction lifecycle, and security principlesNew developments such as Segregated Witness, Payment Channels, and Lightning NetworkA deep dive into blockchain applications, including how to combine the building blocks offered by this platform into higher-level applicationsUser stories, analogies, examples, and code snippets illustrating key technical concepts
“Rabbi Lapin’s first book, Thou Shall Prosper, is one of the most eye-opening, mind-blowing books I’ve read in the past decade. I’m so excited that he’s now turned that same meticulous biblical lens toward our view of business. I read everything Rabbi Lapin writes!”
—DAVE RAMSEY, New York Times best-selling author and nationally syndicated radio show host
“Making real money is not what will allow you to do the right things; it is the result of doing those right things in the first place. Rabbi Daniel Lapin teaches what those right things are in this bold and eye-opening book that takes readers through the forty steps of Biblical abundance.”
—GLENN BECK, #1 best-selling author of Miracles and Massacres and founder of TheBlaze.com
“No one makes a more passionate, persuasive case than Rabbi Daniel Lapin for applying the timeless wisdom of Scripture to the timely challenges of modern life. This wise, wonderful book helps point the way to productivity and peace of mind for individuals as well as society at large.”
—MICHAEL MEDVED, best-selling author of 5 Big Lies About American Business, speaker, and host of the nationally syndicated Medved Radio Show
“Rabbi Lapin is one of the smartest men I know. The world that he guides us through is a world in which ancient truths unlock today's riches. I have learned to trust him for spiritual guidance and, now, I trust him to guide Americans to prosperity, as well. This book is a gift that will keep on paying dividend—literally.”
—KEITH ABLOW, MD, contributor, Fox News, New York Times best-selling author
Eternal wisdom for present-day professionals
For thousands of years, the Bible has guided its enthusiasts in all their endeavors, and finance is no exception. With his knowledge of ancient Jewish wisdom, Rabbi Daniel Lapin has extracted 40 business secrets from the pages of humanity’s most trusted volume. In Business Secrets from the Bible, the Rabbi teaches these timeless truths with clarity so you can apply them to business and beyond.
In this book, Rabbi Lapin explains how business is a way of measuring our interactions with others, and how the Bible guides us to serve them for mutual gain. Only by unifying business, relationships, and spirituality can we achieve lasting financial and personal success. If you focus on business and hard work but can’t understand why you aren’t more successful, this book is for you. Business Secrets from the Bible will gently take you from confusion to abundance in forty simple steps.
Fooled by Randomness is the word-of-mouth sensation that will change the way you think about business and the world. Nassim Nicholas Taleb–veteran trader, renowned risk expert, polymathic scholar, erudite raconteur, and New York Times bestselling author of The Black Swan–has written a modern classic that turns on its head what we believe about luck and skill.
This book is about luck–or more precisely, about how we perceive and deal with luck in life and business. Set against the backdrop of the most conspicuous forum in which luck is mistaken for skill–the world of trading–Fooled by Randomness provides captivating insight into one of the least understood factors in all our lives. Writing in an entertaining narrative style, the author tackles major intellectual issues related to the underestimation of the influence of happenstance on our lives.
The book is populated with an array of characters, some of whom have grasped, in their own way, the significance of chance: the baseball legend Yogi Berra; the philosopher of knowledge Karl Popper; the ancient world’s wisest man, Solon; the modern financier George Soros; and the Greek voyager Odysseus. We also meet the fictional Nero, who seems to understand the role of randomness in his professional life but falls victim to his own superstitious foolishness.
However, the most recognizable character of all remains unnamed–the lucky fool who happens to be in the right place at the right time–he embodies the “survival of the least fit.” Such individuals attract devoted followers who believe in their guru’s insights and methods. But no one can replicate what is obtained by chance.
Are we capable of distinguishing the fortunate charlatan from the genuine visionary? Must we always try to uncover nonexistent messages in random events? It may be impossible to guard ourselves against the vagaries of the goddess Fortuna, but after reading Fooled by Randomness we can be a little better prepared.
PRAISE FOR FOOLED BY RANDOMNESS:
Named by Fortune One of the Smartest Books of All Time
A Financial Times Best Business Book of the Year
“[Fooled by Randomness] is to conventional Wall Street wisdom approximately what Martin Luther’s ninety-five theses were to the Catholic Church.”
–Malcolm Gladwell, author of Blink
“The book that rolled down Wall Street like a hand grenade.”
–Maggie Mahar, author of Bull! A History of the Boom, 1982—1999
“Fascinating . . . Taleb will grab you.”
–Peter L. Bernstein, author of Capital Ideas Evolving
“Recalls the best of scientist/essayists like Richard Dawkins . . . and Stephen Jay Gould.”
–Michael Schrage, author of Serious Play: How the World’s Best Companies Simulate to Innovate
“We need a book like this. . . . Fun to read, refreshingly independent-minded.”
–Robert J. Shiller, author of Irrational Exuberance
“Powerful . . . loaded with crackling little insights [and] extreme brilliance.”
How do the world's most successful traders amass tens,hundreds of millions of dollars a year? Are they masters of anoccult knowledge, lucky winners in a random market lottery,natural-born virtuosi—Mozarts of the markets? In search of ananswer, bestselling author Jack D. Schwager interviewed dozens oftop traders across most financial markets. While their responsesdiffered in the details, all of them could be boiled down to thesame essential formula: solid methodology + proper mental attitude= trading success. In Market Wizards Schwager lets you hear,in their own words, what those super-traders had to say about theirunprecedented successes, and he distils their responses down into aset of guiding principles you can use to become a trading star inyour own right.Features interviews with superstar money-makers including BruceKovner, Richard Dennis, Paul Tudor Jones, Michel Steinhardt, EdSeykota, Marty Schwartz, Tom Baldwin, and moreTells the true stories behind sensational trading coups,including the one about the trader who turned $30,000 into $80million, the hedge fund manager who's averaged 30% returns everyyear for the past twenty-one years, and the T-bond futures traderwho parlayed $25,000 into $2 billion in a single day!
"Market Wizards is one of the most fascinating books everwritten about Wall Street. A few of the 'Wizards' are myfriends—and Jack Schwager has nailed their modus operandi onthe head."
--Martin W. Zweig, Ph.D., Editor, The Zweig Forecast
What happens when ordinary people are taught a system to make extraordinary money? Richard Dennis made a fortune on Wall Street by investing according to a few simple rules. Convinced that great trading was a skill that could be taught to anyone, he made a bet with his partner and ran a classified ad in the Wall Street Journal looking for novices to train. His recruits, later known as the Turtles, had anything but traditional Wall Street backgrounds; they included a professional blackjack player, a pianist, and a fantasy game designer. For two weeks, Dennis taught them his investment rules and philosophy, and set them loose to start trading, each with a million dollars of his money. By the time the experiment ended, Dennis had made a hundred million dollars from his Turtles and created one killer Wall Street legend.
In The Complete Turtle Trader, Michael W. Covel, bestselling author of Trend Following and managing editor of TurtleTrader.com, the leading website on the Turtles, tells their riveting story with the first ever on the record interviews with individual Turtles. He describes how Dennis interviewed and selected his students, details their education and experiences while working for him, and breaks down the Turtle system and rules in full. He reveals how they made astounding fortunes, and follows their lives from the original experiment to the present day. Some have grown even wealthier than ever, and include some of today's top hedge fund managers. Equally important are those who passed along their approach to a second generation of Turtles, proving that the Turtles' system truly is reproducible, and that anyone with the discipline and the desire to succeed can do as well as—or even better than—Wall Street's top hedge fund wizards.
In an era full of slapdash investing advice and promises of hot stock tips for "the next big thing," as popularized by pundits like Jim Cramer of Mad Money, the easy-to-follow objective rules of the TurtleTrader stand out as a sound guide for truly making the most out of your money. These rules worked—and still work today—for the Turtles, and any other investor with the desire and commitment to learn from one of the greatest investing stories of all time.
While the formula may be simple, understanding why the formulaworks is the true key to success for investors. The book will takereaders on a step-by-step journey so that they can learn theprinciples of value investing in a way that will provide them witha long term strategy that they can understand and stick withthrough both good and bad periods for the stock market.
As the Wall Street Journal stated about the originaledition, “Mr. Greenblatt…says his goal was to provideadvice that, while sophisticated, could be understood and followedby his five children, ages 6 to 15. They are in luck. His‘Little Book’ is one of the best, clearest guides tovalue investing out there.”
Since its release in 2006, Financial Intelligence has become a favorite among managers who need a guided tour through the numbers—helping them to understand not only what the numbers really mean, but also why they matter.
This new, completely updated edition brings the numbers up to date and continues to teach the basics of finance to managers who need to use financial data to drive their business. It also addresses issues that have become even more important in recent years—including questions around the financial crisis and those around broader financial and accounting literacy.
Accessible, jargon-free, and filled with entertaining stories of real companies, Financial Intelligence gives nonfinancial managers the confidence to understand the nuance beyond the numbers—to help bring everyday work to a new level.
Too often, textbooks turn the noteworthy details of investing into tedious discourse that would put even Warren Buffett to sleep. Investing 101 cuts out the boring explanations, and instead provides a hands-on lesson that keeps you engaged as you learn how to build a portfolio and expand your savings. From value investing to short selling to risk tolerance, this primer is packed with hundreds of entertaining tidbits and concepts that you won't be able to get anywhere else.
So whether you're looking to master the major principles of investing, or just want to learn more about stocks and bonds, Investing 101 has all the answers--even the ones you didn't know you were looking for.
Wealthy, powerful, and potentially dangerous, hedge fund moguls have become the It Boys of twenty-first- century capitalism. Beating the market was long thought to be impossible, but hedge funds cracked its mysteries and made fortunes in the process. Drawing on his unprecedented access to the industry, esteemed financial writer Sebastian Mallaby tells the inside story of the hedge funds, from their origins in the 1960s to their role in the financial crisis of 2007 to 2009.
Read Sebastian Mallaby's new book, The Man Who Knew: The Life and Times of Alan Greenspan.
Drawing on their work training tens of thousands of people at leading organizations worldwide, the authors provide a deep understanding of the basics of financial management and measurement, along with hands-on activities to practice what you are reading. You'll discover:
Why the assumptions behind financial data matter
- What income statements, balance sheets, and cash flow statements really reveal
- How to use ratios to assess your venture's financial health
- How to calculate return on your investments in your enterprise
- Ways to use financial information to do your own job better
- How to instill financial intelligence throughout your team
Authoritative and accessible, Financial Intelligence for Entrepreneurs empowers you to "talk numbers" confidently with colleagues, partners, and employees-- and fully understand how to use financial data to make better decisions for your business.
How to Get Rich is different from any other book on the subject because Dennis isn't selling snake oil, investment tips, or motivational claptrap. He merely wants to help people embrace entrepreneurship, and to share lessons he learned the hard way. He reveals, for example, why a regular paycheck is like crack cocaine; why great ideas are vastly overrated; and why "ownership isn't the important thing, it's the only thing."
Don't have much time? Get up to speed fast on the most essential business skills with HBR's 20-Minute Manager series. Whether you need a crash course or a brief refresher, each book in the series is a concise, practical primer that will help you brush up on a key management topic. Advice you can quickly read and apply, for ambitious professionals and aspiring executives--from the most trusted source in business. Also available as an ebook.
Fund manager Joel Greenblatt has been beating the Dow (with returns of 50 percent a year) for more than a decade. And now, in this highly accessible guide, he’s going to show you how to do it, too. You’re about to discover investment opportunities that portfolio managers, business-school professors, and top investment experts regularly miss—uncharted areas where the individual investor has a huge advantage over the Wall Street wizards. Here is your personal treasure map to special situations in which big profits are possible, including:
· Merger Securities
· Rights Offerings
· Risk Arbitrage
You work hard and try to save money, so why is there never enough to cover all the bills, to put some away in your child’s college fund, to pay off your credit card debt—or to relax and have some fun, for once? In the New York Times bestseller All Your Worth, mother/daughter team Elizabeth Warren and Amelia Warren Tyagi—authors of the acclaimed The Two-Income Trap—tell you the truth about money. The authors lay out a groundbreaking approach to getting control of your money so you can finally start building the life you’ve always wanted. The result of more than twenty years of intensive research, All Your Worth offers you a step-by-step plan that will let you master your finances—for the rest of your life.
The secret? It’s simple, really: get your money in balance. Warren and Tyagi show you how to balance your money into three essential parts: the Must-Haves (the bills you have to pay every month), the Wants (some fun money for right now), and your Savings (to build a better tomorrow). No complicated budgets, no keeping track of every penny. Warren and Tyagi will show you a whole new way of looking at money—and yourself—that will help you get your finances on track so you can enjoy peace of mind for the rest of your life.
Is your portfolio doing all it should? Are you looking for amarket-focused way to increase returns? Try your hand at trendtrading. Instead of analyzing the performance of a company, analyzethe performance of the market as a whole. When you spot a trend,jump on it and let it ride until it's time to move. Whether yourstrategy is short-term, intermediate-term, or long-term, trendtrading can help you capitalize on the action of market and get themost out of every move you make.
Trend Trading For Dummies will get you up to speed on theins and outs of this unique technique. You'll learn how to spot thetrends and just how heavily market analysis figures into yoursuccess. You can get as complex as you like with the data forlong-term predictions or just go for quick rides that pump up yourgains. Before you jump in, you need to know the basics that canhelp ensure your success.Learn the rules of trend trading and why you need a solidsystemUnderstand technical analysis to make accurate predictionsAnalyze the market and learn what to look for before youtradeUse leverage to your advantage to make better moves
Trend Trading For Dummies includes trading strategiesthat you can use as-is, or customize to suit your needs. Thoroughpreparation is the key to any good trading plan, and it's nodifferent with trend trading. Trend Trading For Dummiesallows you to trade using every angle, and will get you out of orinto the market in a flash.
Chart pattern analysis is not only one of the most important investing tools, but also one of the most popular. Filled with expert insights and practical advice from one of the best in the business, Getting Started in Chart Patterns, Second Edition helps new and seasoned traders alike profit by tracking and identifying specific chart patterns.
Substantially revised and expanded, this new edition stay true to the original, with author Thomas Bulkowski's frank discussion of how trading behavior can affect the bottom line. Interwoven throughout the technical presentations are fascinating anecdotes drawn from the author's quarter-century as a professional trader that vividly demonstrate how one of the best in the business leverages the power of chart patterns.Includes additional charts for ETFs and mutual fundsIntroduces more than 40 key chart formations, as well as trading tactics that can be used in conjunction with themSupplies actual trades, with their corresponding dollar amounts
If you're looking to gain a better understanding of this discipline, look no further than the Second Edition of Getting Started in Chart Patterns.
ONE OF THE BEST BOOKS OF THE YEAR—The New York Times and The Economist • Finalist for the New York Public Library’s Helen Bernstein Book Award for Excellence in Journalism
The hedge fund industry changed Wall Street. Its pioneers didn’t lay railroads, build factories, or invent new technologies. Rather, they made their billions through financial speculation, by placing bets in the market that turned out to be right more often than not. In hedge fund circles, Steven A. Cohen was revered as one of the greatest traders who ever lived. But that image was shattered when his fund, SAC Capital, became the target of a seven-year government investigation. Prosecutors labeled SAC a “magnet for market cheaters” whose culture encouraged the relentless pursuit of “edge”—and even “black edge,” which is inside information—and the firm was ultimately indicted and pleaded guilty to charges related to a vast insider trading scheme. Cohen, himself, however, was never charged. Black Edge is a riveting legal thriller that raises urgent questions about the power and wealth of those who sit at the pinnacle of high finance and how they have reshaped the economy.
Longlisted for the Andrew Carnegie Medal for Excellence in Nonfiction and the Financial Times and McKinsey Business Book of the Year Award
“A modern version of Moby-Dick, with wiretaps rather than harpoons.”—Jennifer Senior, The New York Times
“If you liked James B. Stewart’s Den of Thieves, Sheelah Kolhatkar’s thrilling Black Edge should be next on your reading list.”—The Wall Street Journal
“A true-life thriller with Shakespearian stakes . . . Her chilling account of a blighted industry is as mesmerizing as a human story as it is as a financial one.”—Fortune
“A tour de force of groundbreaking reporting and brilliant storytelling.”—Jeffrey Toobin, New York Times bestselling author of American Heiress
In the updated edition of The Elements of Investing,authors Charles Ellis and Burton Malkiel—two of the world'sgreatest financial thinkers—have again combined their talentsto produce a straight-talking book about investing and saving.Written with every investor in mind, this reliable resource willput you on a path towards a lifetime of financial success.
Page by page, Malkiel and Ellis skillfully focus their messageto address the essentials and offer a set of simple, but powerfulthoughts on how to avoid Mr. Market and his "loser's game," andinstead enjoy the "winner's" approach to investing. All theinvestment rules and principles you need to succeed arehere—with clear advice on how to follow them.Shows you how to focus on the long term instead of followingmarket fluctuations that are likely to lead to costly investingmistakesContains investment insights that can carry you all the way to,and through, retirementWritten by Burton G. Malkiel, the bestselling author of ARandom Walk Down Wall Street, and Charles D. Ellis, thebestselling author of Winning the Loser's Game
A disciplined approach to investing, complemented byunderstanding, is all you need to enjoy success. This practicalguide explains what you really need to know and puts you on theright course for long-term success through all kinds ofmarkets.
He explodes common myths about wealth and explains how legendary entrepreneurs such as Richard Branson, Suze Orman, Steve Jobs, and Warren Buffet have subscribed to a set of priorities that’s completely different from those of the middle class.
Schiff identifies the seven distinct principles practiced by individuals who may or may not be any smarter than the rest of the population, but seem to understand instinctively how money is made. This guide also reveals how these business icons excel in areas of team building, risk management, and leadership development to accumulate their wealth.
He offers a practical four-step program, from choosing one’s livelihood and pinpointing skills to focus on, to negotiating job terms and salary, in order to bring upon greater success.
Business Brilliant by Lewis Schiff, coauthor of The Middle Class Millionaire: The Rise of the New Rich and How They are Changing America and The Armchair Millionaire, can help you can achieve better results in your business and in your career.
Growing up, the words finance, savings, and portfolio made Danielle Town’s eyes glaze over, and the thought of stocks and financial statements shut down her brain. The daughter of a successful investor and bestselling financial author of Rule #1, Phil Town, she spent most of her adult life avoiding investing—until she realized that her time-consuming career as lawyer was making her feel anything but in control of her life or her money. Determined to regain her freedom, vote for her values with her money, and deal with her fear of the unpredictable stock market, she turned to her father, Phil, to help her take charge of her life and her future through Warren Buffett-style value investing. Over the course of a year, Danielle went from avoiding everything to do with the financial industrial complex to knowing exactly how and when to invest in wonderful companies.
In Invested, Danielle shows you how to do the same: how to take command of your own life and finances by choosing companies with missions that match your values, using the same gold standard strategies that have catapulted Warren Buffet and Charlie Munger to the top of the Forbes 400. Avoiding complex math and obsolete financial models, she turns her father’s investing knowledge into twelve easy-to understand lessons.
In each chapter, Danielle examines the investment strategies she mastered as her increasing know-how deepens the trust between her and her father. Throughout, she streamlines the process of making wise financial decisions and shows you just how easy—and profitable—investing can be.
Capturing a warm, charming, and down-to-earth give and take between a headstrong daughter and her mostly patient dad, Invested makes the complex world of investing simple, straightforward, and approachable, and will help you formulate your own investment plan—and foster the confidence to put it into action.
Candlestick charting is more popular than ever before, with alegion of new traders and investors being introduced to the conceptby some of today’s hottest investment gurus. Havingintroduced the candlestick technique to the West through two of hisbestselling books, Steve Nison is regarded as a luminary in thefield of candlestick charting. In his new venture, The CandlestickCourse, Nison explains patterns of varying complexity and tests thereader’s knowledge with quizzes, Q&As, and intensiveexamples. In accessible and easy-to-understand language, this bookoffers expert instruction on the practical applications ofcandlestick charting to give every level of investor a completeunderstanding of this proven, profitable, and time-tested investingtechnique. Straightforward answers quickly clarify this easy-to-usecharting method. This guide will allow readers to recognize andimplement various candlestick patterns and lines in today’sreal-world trading environment–giving them a noticeable edgein their trading activities
Can you prepare a breakeven analysis? Do you know the difference between an income statement and a balance sheet? Or understand why a business that’s profitable can still go belly-up? Has your grasp of your company’s numbers helped—or hurt—your career?
Whether you’re new to finance or you just need a refresher, this go-to guide will give you the tools and confidence you need to master the fundamentals, as all good managers must.
The HBR Guide to Finance Basics for Managers will help you:Learn the language of financeCompare your firm’s financials with rivals’Shift your team’s focus from revenues to profitsAssess your vulnerability to industry downturnsUse financial data to defend budget requestsInvest smartly through cost/benefit analysis
In the constantly evolving world of finance, a solid technical foundation is an essential tool for success. Until the welcomed arrival of authors Josh Rosenbaum and Josh Pearl, no one had taken the time to properly codify the lifeblood of the corporate financier's work-namely, valuation, through all of the essential lenses of an investment banker. With the release of Investment Banking, Second Edition: Valuation, Leveraged Buyouts, and Mergers & Acquisitions, Rosenbaum and Pearl once again have written the definitive book that they wish had existed when they were trying to break into Wall Street. The Second Edition includes both the technical valuation fundamentals as well as practical judgment skills and perspective to help guide the science. This book focuses on the primary valuation methodologies currently used on Wall Street: comparable companies analysis, precedent transactions analysis, discounted cash flow analysis, and leveraged buyout analysis. With the new fully revised edition, they have added the most comprehensive, rigorous set of intuition-building and problem-solving ancillaries anywhere all of which promised to become essential, knowledge enhancing tools for professionals, and professors and students.
For those who purchase this edition of the book, there are options to purchase the Valuation Models separately (9781118586167), and to also consider purchase of the Investing Banking Workbook (9781118456118) and Investment Banking Focus Notes (9781118586082) for further self-study.
Using clear, sharp analysis and comprehensive data, Reinhart and Rogoff document that financial fallouts occur in clusters and strike with surprisingly consistent frequency, duration, and ferocity. They examine the patterns of currency crashes, high and hyperinflation, and government defaults on international and domestic debts--as well as the cycles in housing and equity prices, capital flows, unemployment, and government revenues around these crises. While countries do weather their financial storms, Reinhart and Rogoff prove that short memories make it all too easy for crises to recur.
An important book that will affect policy discussions for a long time to come, This Time Is Different exposes centuries of financial missteps.
This updated version of the best-selling Business by the Book offers radical principles of business management that go beyond the Ten Commandments and other biblical maxims.
Business by the Book is a step-by-step presentation of how businesses should be run according to the Creator of all management rules: God.
Larry Burkett, founder and president of Christian Financial Concepts, provides business principles from his own experience as well as what God’s Word says on topics such as:Hiring and Firing Decisions Pay Increases and Promotions Management Selection Employee Pay Decisions Borrowing and/or Lending Decisions Forming Corporations and Partnerships Business Tithing Retirement
Whether you are the owner of a business, a corporate executive, or a manager, this best-selling classic is for you.
In the fourteen years between his time in New York with value-investing guru Benjamin Graham and his start as chairman of Berkshire Hathaway, Warren Buffett managed Buffett Partnership Limited, his first professional investing partnership. Over the course of that time—a period in which he experienced an unprecedented record of success—Buffett wrote semiannual letters to his small but growing group of partners, sharing his thoughts, approaches, and reflections.
Compiled for the first time and with Buffett’s permission, the letters spotlight his contrarian diversification strategy, his almost religious celebration of compounding interest, his preference for conservative rather than conventional decision making, and his goal and tactics for bettering market results by at least 10% annually. Demonstrating Buffett’s intellectual rigor, they provide a framework to the craft of investing that had not existed before: Buffett built upon the quantitative contributions made by his famous teacher, Benjamin Graham, demonstrating how they could be applied and improved.
Jeremy Miller reveals how these letters offer us a rare look into Buffett’s mind and offer accessible lessons in control and discipline—effective in bull and bear markets alike, and in all types of investing climates—that are the bedrock of his success. Warren Buffett’s Ground Rules paints a portrait of the sage as a young investor during a time when he developed the long-term value-oriented strategy that helped him build the foundation of his wealth—rules for success every investor needs today.
Countless money-making opportunities abound in the ForeignExchange (Forex) market every day, but how does an amateur investortake advantage of these opportunities to earn high returns? Thisbook by CNBC-featured Forex Expert Mario Singh provides acomprehensive solution to this question.
Following the first section that explains in plainEnglish—what is Forex trading, how money is made in the Forex"game," the six major players involved, and the importance ofknowing one's Trader Profile—the second section focuses onspecific and practical guidance which includes:A "Trader Profile Test" to help the reader get a clear pictureof his natural trading style and which of five trading profiles hebelongs to (Scalper, Day Trader, Swing Trader, Position Trader orMechanical Trader)17 proven trading strategies (between 2 to 5 strategies foreach trader profile) for the reader to immediately start cashing inon the Forex marketDescriptions of an array of real-world trading scenarios, withtips on how to address themA section that shows the reader how to custom-tailor a tradingsystem designed for his sensibilities and risk toleranceForex hedging strategies for finance professionals atmultinational corporations
Short on theory and long on practical insights and step-by-stepguidance, 17 Proven Currency Trading Strategies—How ToProfit in the Forex Market will help anyone—frombeginners to professionals, and everyone in between—to masterthe Forex market and be consistently profitable.
"A great book! Simply written, motivational with unique contentthat leads any trader, novice or experienced, along the path ofself-coaching. This is by far Dr. Steenbarger's best book and amust-have addition to any trader's bookshelf. I'll certainly berecommending it to all my friends."
—Ray BarrosCEO, Ray Barros Trading Group
"Dr. Steenbarger has been helping traders help themselves formany years. Simply put, this book is a must-read for anyone whodesires to achieve great success in the market."
—Charles E. KirkThe Kirk Report
"'Dr. Brett', as he is affectionately known by his blog readers,has assembled a practical guide to self coaching in this excellentbook. The strategies he outlines are further enhanced with numerousresources and exercises for the reader to refer to and keep theprinciples fresh. I enthusiastically encourage anyone interested inbettering their trading and investing to read this book and keep iton their desk as a constant source of learning."
—Brian Shannon, www.alphatrends.netauthor of TechnicalAnalysis Using Multiple Timeframes
"Dr. Brett has distilled his years of experience, as both atrader and a psychologist/coach, into the 101 practical lessonsfound in The Daily Trading Coach. Those lessons provide effectivestrategies for coping with the stumbling blocks that traders oftenface. This book should be a cornerstone of any serious trader'slibrary."
—Michael Seneadzaequities trader and blogger atTraderMike.net
There is a new reality out there—a new normal. What was once certain—that you would be able to retire comfortably, that you would pay for your kids’ education, that your home would appreciate in value—is no longer a sure thing. So much has changed on the financial landscape that it’s hard to know which moves are the right ones to make. Suze Orman’s million-copy bestselling financial action plan—fully revised and updated—will show you the way.
NEW TIMES CALL FOR NEW RULES—AND THIS IS WHAT SUZE ORMAN’S ACTION PLANDELIVERS:
• up-to-date information on new legislation that could affect how you will achieve your financial goals
• an explanation of new FICO practices, and a new strategy for dealing with credit cards when you’re trying to get out of debt
• sound advice about rebuidling your retirement plan, and what to do if you’re already retired
• guidance on how to live within your means, and strategies to keep you on the path to achieving your goals in this new age of financial honesty
PLUS AN ALL-NEW CHAPTER ON KIDS AND MONEY—how to give your kids a solid financial education, no matter their age!
In Building Algorithmic Trading Systems: A Trader's JourneyFrom Data Mining to Monte Carlo Simulation to Live Training,award-winning trader Kevin Davey shares his secrets for developingtrading systems that generate triple-digit returns. With bothexplanation and demonstration, Davey guides you step-by-stepthrough the entire process of generating and validating an idea,setting entry and exit points, testing systems, and implementingthem in live trading. You'll find concrete rules for increasing ordecreasing allocation to a system, and rules for when to abandonone. The companion website includes Davey's own Monte Carlosimulator and other tools that will enable you to automate and testyour own trading ideas.
A purely discretionary approach to trading generally breaks downover the long haul. With market data and statistics easilyavailable, traders are increasingly opting to employ an automatedor algorithmic trading system—enough that algorithmic tradesnow account for the bulk of stock trading volume. BuildingAlgorithmic Trading Systems teaches you how to develop your ownsystems with an eye toward market fluctuations and the impermanenceof even the most effective algorithm.Learn the systems that generated triple-digit returns in theWorld Cup Trading ChampionshipDevelop an algorithmic approach for any trading idea usingoff-the-shelf software or popular platformsTest your new system using historical and current marketdataMine market data for statistical tendencies that may form thebasis of a new system
Market patterns change, and so do system results. Pastperformance isn't a guarantee of future success, so the key is tocontinually develop new systems and adjust established systems inresponse to evolving statistical tendencies. For individual traderslooking for the next leap forward, Building Algorithmic TradingSystems provides expert guidance and practical advice.
Bassetti, a client, friend, and student of John Magee, one of the original authors, has converted the material on the craft of manual charting with TEKNIPLAT chart paper to modern computer software methods. In actuality, none of Magee’s concepts have proven invalid and some of his work predated modern concepts such as beta and volatility. In addition, Magee described a trend-following procedure that is so simple and so elegant that Bassetti has adapted it to enable the general investor to use it to replace the cranky Dow Theory. This procedure, called the Basing Points procedure, is extensively described in the new Tenth Edition along with new material on powerful moving average systems and Leverage Space Portfolio Model generously contributed by the formidable analyst, Ralph Vince., author of Handbook of Portfolio Mathematics.
See what’s new in the Tenth Edition:
Chapters on replacing Dow Theory Update of Dow Theory Record Deletion of extraneous material on manual charting New chapters on Stops and Basing Points New material on moving average systems New material on Ralph Vince’s Leverage Space Portfolio Model
So much has changed since the first edition, yet so much has remained the same. Everyone wants to know how to play the game. The foundational work of the discipline of technical analysis, this book gives you more than a technical formula for trading and investing, it gives you the knowledge and wisdom to craft long-term success.
The New Trading for a Living updates a modern classic, popular worldwide among both private and institutional traders. This revised and expanded edition brings time-tested concepts in gear with today's fast-moving markets, adding new studies and techniques for the modern trader.
This classic guide teaches a calm and disciplined approach to the markets. It emphasizes risk management along with self-management and provides clear rules for both. The New Trading for a Living includes templates for rating stock picks, creating trade plans, and rating your own readiness to trade. It provides the knowledge, perspective, and tools for developing your own effective trading system.
All charts in this book are new and in full color, with clear comments on rules and techniques. The clarity of this book's language, its practical illustrations and generous sharing of the essential skills have made it a model for the industry—often imitated but never duplicated. Both new and experienced traders will appreciate its insights and the calm, systematic approach to modern markets.
The New Trading for a Living will become an even more valuable resource than the author's previous books:Overcome barriers to success and develop stronger disciplineIdentify asymmetrical market zones, where rewards are higher and risks lowerMaster money management as you set entries, targets and stopsUse a record-keeping system that will make you into your own teacher
Successful trading is based on knowledge, focus, and discipline. The New Trading for a Living will lift your trading to a higher level by sharing classic wisdom along with modern market tools.
John Malcolm was the ultimate gunslinger in the Wild East, prepared to take on any level of risk in making mind-boggling sums of money. He and his friends were hedge-fund cowboys, living life on the adrenaline-, sex-, and drugs-fueled edge—kids running billion-dollar portfolios, trading information in the back rooms of high-class brothels and at VIP tables in nightclubs across the Far East.
Malcolm and his Ivy League-schooled twenty-something colleagues, with their warped sense of morality, created their own economic theory that would culminate in a single deal the likes of which had never been seen before—or since.
Ugly Americans is a story of extremes, charged with wealth, nerve, excess, and glamour. A real-life mixture of Liar's Poker and Wall Street, brimming with intense action, romance, underground sex, vivid locales, and exotic characters, Ugly Americans is the untold true story that rocked the financial community.
It has become clear that we are living a lie, and it has brought devastating results: Bankruptcy among churchgoers is equally as high as those who don’t attend. Financial misconduct is destroying marriages, families, individuals, and churches. A record number of churches are in foreclosure.
The church teaches us it’s normal to have student loans, car payments, mortgages, and credit cards. It calls poverty a curse but isn’t doing much to correct the problem, and it focuses on tithing and the elimination of personal debt—but debt elimination is not enough.
Wouldn’t you rather thrive in your finances and live the life God has called you to?
Evangelpreneur will teach you:
How to get your financial life to line up with your faith life
How to save your family and your church from financial ruin
How to recognize if God is calling you to entrepreneurship
How to use entrepreneurism to do God’s work on Earth
For too long, the faithful have been held hostage by false teaching, bad teaching, and the poor practice of good teaching. It’s time to break free from the bondage tied to financial issues and become an Evangelpreneur.
Over the last several decades, the United States has undergone one of the most radical social and economic transformations in its history.
· Finance has become America’s dominant industry, while manufacturing, even for high technology industries, has nearly disappeared.
· The financial sector has become increasingly criminalized, with the widespread fraud that caused the housing bubble going completely unpunished.
· Federal tax collections as a share of GDP are at their lowest level in sixty years, with the wealthy and highly profitable corporations enjoying the greatest tax reductions.
· Most shockingly, the United States, so long the beacon of opportunity for the ambitious poor, has become one of the world’s most unequal and unfair societies.
If you’re smart and a hard worker, but your parents aren’t rich, you’re now better off being born in Munich, Germany or in Singapore than in Cleveland, Ohio or New York.
This radical shift did not happen by accident.
Ferguson shows how, since the Reagan administration in the 1980s, both major political parties have become captives of the moneyed elite. It was the Clinton administration that dismantled the regulatory controls that protected the average citizen from avaricious financiers. It was the Bush team that destroyed the federal revenue base with its grotesquely skewed tax cuts for the rich. And it is the Obama White House that has allowed financial criminals to continue to operate unchecked, even after supposed “reforms” installed after the collapse of 2008.
Predator Nation reveals how once-revered figures like Alan Greenspan and Larry Summers became mere courtiers to the elite. Based on many newly released court filings, it details the extent of the crimes—there is no other word—committed in the frenzied chase for wealth that caused the financial crisis. And, finally, it lays out a plan of action for how we might take back our country and the American dream.
From bestselling author, investment expert, and Wall Streettheoretician Jack Schwager comes a behind-the-scenes look at theworld of hedge funds, from fifteen traders who've consistentlybeaten the markets. Exploring what makes a great trader a greattrader, Hedge Fund Market Wizards breaks new ground, givingreaders rare insight into the trading philosophy and successfulmethods employed by some of the most profitable individuals in thehedge fund business.Presents exclusive interviews with fifteen of the mostsuccessful hedge fund traders and what they've learned over thecourse of their careersIncludes interviews with Jamie Mai, Joel Greenblatt, MichaelPlatt, Ray Dalio, Colm O’Shea, Ed Thorp, and manymoreExplains forty key lessons for tradersJoins Stock Market Wizards, New Market Wizards,and Market Wizards as the fourth installment of investmentguru Jack Schwager's acclaimed bestselling series of interviewswith stock market experts
A candid assessment of each trader's successes and failures, intheir own words, the book shows readers what they can learn fromeach, and also outlines forty essential lessons—from findinga trading method that fits an investor's personality to learning toappreciate the value of diversification—that investmentprofessionals everywhere can apply in their own careers.
Bringing together the wisdom of the true masters of the markets,Hedge Fund Market Wizards is a collection of timelessinsights into what it takes to trade in the hedge fund world.
With home foreclosures at an all-time high and the erratic stock market damaging 401(k) accounts, people are looking for innovative ways to invest their money and improve their financial situation through different investment vehicles.
Moskowitz explains what tax lien certificates are (liens against property for unpaid taxes), why they are safe investments (certain states insure them), and how they fit into an overall financial plan. This new edition includes updates to the laws and procedures of states and counties that offer tax lien certificates.
Welcome to the age of data. No matter your interests (sports, movies, politics), your industry (finance, marketing, technology, manufacturing), or the type of organization you work for (big company, nonprofit, small start-up)—your world is awash with data.
As a successful manager today, you must be able to make sense of all this information. You need to be conversant with analytical terminology and methods and able to work with quantitative information. This book promises to become your “quantitative literacy" guide—helping you develop the analytical skills you need right now in order to summarize data, find the meaning in it, and extract its value.
In Keeping Up with the Quants, authors, professors, and analytics experts Thomas Davenport and Jinho Kim offer practical tools to improve your understanding of data analytics and enhance your thinking and decision making. You’ll gain crucial skills, including:
• How to formulate a hypothesis
• How to gather and analyze relevant data
• How to interpret and communicate analytical results
• How to develop habits of quantitative thinking
• How to deal effectively with the “quants” in your organization
Big data and the analytics based on it promise to change virtually every industry and business function over the next decade. If you don’t have a business degree or if you aren’t comfortable with statistics and quantitative methods, this book is for you. Keeping Up with the Quants will give you the skills you need to master this new challenge—and gain a significant competitive edge.
"A fascinating new perspective on modern finance," --Oliver Hart, 2016 Nobel Laureate in Economics
"Lucid, witty and delightfully erudite...From the French revolution to film noir, from the history of probability to Jane Austen and The Simpsons, this is an astonishing intellectual feast." --Sebastian Mallaby, author of The Man Who Knew: The Life and Times of Alan Greenspan
Longlisted for 2017 Financial Times/McKinsey Business Book of the Year
A 2017 AMAZON PICK IN BUSINESS & LEADERSHIP
A WealthManagement.com BEST BUSINESS BOOK OF 2017
In 1688, essayist Josef de la Vega described finance as both “the fairest and most deceitful business . . . the noblest and the most infamous in the world, the finest and most vulgar on earth.”
The characterization of finance as deceitful, infamous, and vulgar still rings true today – particularly in the wake of the 2008 financial crisis. But, what happened to the fairest, noblest, and finest profession that de la Vega saw?
De la Vega hit on an essential truth that has been forgotten: finance can be just as principled, life-affirming, and worthy as it can be fraught with questionable practices. Today, finance is shrouded in mystery for outsiders, while many insiders are uneasy with the disrepute of their profession. How can finance become more accessible and also recover its nobility?
Harvard Business School professor Mihir Desai, in his “last lecture” to the graduating Harvard MBA class of 2015, took up the cause of restoring humanity to finance. With incisive wit and irony, his lecture drew upon a rich knowledge of literature, film, history, and philosophy to explain the inner workings of finance in a manner that has never been seen before.
This book captures Desai’s lucid exploration of the ideas of finance as seen through the unusual prism of the humanities. Through this novel, creative approach, Desai shows that outsiders can access the underlying ideas easily and insiders can reacquaint themselves with the core humanity of their profession.
The mix of finance and the humanities creates unusual pairings: Jane Austen and Anthony Trollope are guides to risk management; Jeff Koons becomes an advocate of leverage; and Mel Brooks’s The Producers teaches us about fiduciary responsibility. In Desai’s vision, the principles of finance also provide answers to critical questions in our lives. Among many surprising parallels, bankruptcy teaches us how to react to failure, the lessons of mergers apply to marriages, and the Capital Asset Pricing Model demonstrates the true value of relationships.
THE WISDOM OF FINANCE is a wholly unique book, offering a refreshing new perspective on one of the world’s most complex and misunderstood professions.