Managing Currency Risk
Control the number one cause of financial loss currency fluctuation With cross-border commerce now the global norm, companies must now face the greatest threat to their financial stability: financial losses due to currency fluctuations. Written by an international business and banking expert, Managing Currency Risk is an authoritative, accessible look at the variety of methods used to minimize currency risk. Written for the financial market novice, the book explains the nature and uses of a variety of financial instruments without complicated mathematical equations. Discussed in detail are all forms of currency derivatives, such as forward foreign exchange, OTC currency options, currency swaps, currency futures, and options which are illustrated with international examples and case studies. A practical guide on every aspect of currency risk, Managing Currency Risk also serves as a guide to navigating your firm through turbulent economic times.
Trading With Intermarket Analysis
A visual guide to market trading using intermarket analysis and exchange-traded funds With global markets and asset classes growing even more interconnected, intermarket analysis--the analysis of related asset classes or financial markets to determine their strengths and weaknesses--has become an essential part of any trader's due diligence. In Trading with Intermarket Analysis, John J. Murphy, former technical analyst for CNBC, lays out the technical and intermarket tools needed to understand global markets and illustrates how they help traders profit in volatile climates using exchange-traded funds. Armed with a knowledge of how economic forces impact various markets and financial sectors, investors and traders can profit by exploiting opportunities in markets about to rise and avoiding those poised to fall. Trading with Intermarket Analysis provides advice on trend following, chart patterns, moving averages, oscillators, spotting tops and bottoms, using exchange-traded funds, tracking market sectors, and the new world of intermarket relationships, all presented in a highly visual way. Gives readers a visually rich introduction to the world of intermarket analysis, the ultimate tool for beating the markets Provides practical advice on trend following, chart patterns, moving averages, oscillators, spotting tops and bottoms, using exchange-traded funds, tracking market sectors, and intermarket relationships Includes appendices on Japanese candlesticks and point-and-figure charting Comprehensive and easy-to-use, Trading with Intermarket Analysis presents the most important concepts related to using exchange-traded funds to beat the markets in a visually accessible format.
Trading Psychology 2.0
Practical trading psychology insight that can be put to work today Trading Psychology 2.0 is a comprehensive guide to applying the science of psychology to the art of trading. Veteran trading psychologist and bestselling author Brett Steenbarger offers critical advice and proven techniques to help interested traders better understand the markets, with practical takeaways that can be implemented immediately. Academic research is presented in an accessible, understandable, engaging way that makes it relevant for practical traders, and examples, illustrations, and case studies bring the ideas and techniques to life. Interactive features keep readers engaged and involved, including a blog offering ever-expanding content, and a Twitter feed for quick tips. Contributions from market bloggers, authors, and experts bring fresh perspectives to the topic, and Steenbarger draws upon his own experience in psychology and statistical modeling as an active trader to offer insight into the practical aspect of trading psychology. Trading psychology is one of the few topics that are equally relevant to day traders and active investors, market makers and portfolio managers, and traders in different markets around the globe. Many firms hire trading coaches, but this book provides a coach in print, accessible 24/7 no matter what the market is doing. Understand the research at the core of trading psychology Examine the ways in which psychology is applied in real-world trading Implement practical tips immediately to see first-hand results Gain the perspective and insight of veteran traders who apply these techniques daily While markets may differ in scale, scope, and activity, humans remain human, with all the inherent behavioral tendencies. Studying the market from the human perspective gives traders insight into how human behavior drives market behavior. Trading Psychology 2.0 gives traders an edge, with expert guidance and practical advice.
Forex Trading
All of Jim's FOREX books consistently rank BEST SELLERS on Amazon, and there's a very good reason for this.Forex Trading: The Basics Explained in Simple Terms is more than just a book-it's your gateway to understanding the world of foreign exchange and currency trading. First released in 2015, the content remains as valid and relevant today as it was then. In fact, Investopedia listed this book as one of the Top 5 Books for Beginner Forex Traders in August 2024.Jim Brown, a seasoned Forex trader from Queensland, Australia, has mastered the art of navigating the Forex market. With experience dating back to 2002, Jim has witnessed the evolution of currency trading from manual charting to sophisticated automated systems.In this book, Jim simplifies the complexities of the global economy and international finance, offering a clear introduction to exchange rates, currency pairs, and effective trading strategies. Whether you're just starting out or seeking to strengthen your understanding of financial markets, this book is an ideal starting point. It is perfect for those of you who are just starting to consider trading Forex but don't know where to begin. Given the abundance of information on the internet, it is a good first book to read to gain an understanding of the very basics.What sets this book apart is the extra value Jim provides at no additional cost: As a bonus, Jim includes one of his proven trading systems and the necessary indicators to get you started. The custom indicators for the MT4/MT5 MetaTrader platforms and TradingView are available as a download package.An invitation to join his JAGfx Facebook Group with over 8,500 members, where both new and experienced Forex traders share insights and strategies. Jim has daily interaction in this group, sharing live trades, results, and regular trade analysis videos.Access to his Telegram Group for real-time discussions.Direct contact details for any questions or further clarification.If you're looking to build a solid foundation in Forex trading and risk management, this book is for you. Connect with Jim through his YouTube videos, Facebook, or Telegram-he's an approachable expert passionate about helping others succeed in currency trading.Jim's books in order of release: Forex Trading: The Basics Explained in Simple TermsMT4/5 & TradingView High Probability Forex Trading MethodTrading Forex with Divergence on MT4/MT5 & TradingViewForex Trading using High & Low Risk StrategiesForex Trading Journal Patience, Courage, DisciplineJim has been featured on: Desire to Trade Podcast with Etienne CreteTrading Nuts Podcast with Cam Hawkins
Financial Reset
Adjust your mindset, secure your future You have tough questions about money-Nancy LaPointe has answers. Financial Reset is a steadfast reference to consult in times of financial insecurity that will transform haphazard decisions into workable, calculated strategies. Hit the "reset" button and start fresh with the right attitude to develop habits that support your values and intentions. A ship without a rudder can certainly make its way across the water, but it has no control of where the water will take it-so grab your rudder and take initiative of your financial destiny.
Fragile by Design
Why stable banking systems are so rare Why are banking systems unstable in so many countries-but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.
Bite Size Advice
Never before has anyone packed so much helpful information into one book for the time starved reader. Written by a veteran financial services executive and thought leader, Bite size advice is an indispensable tool for those wanting to increase their political, economic, social and technological literacy. Written in clear and concise language, it demystifies the key issues impacting our day-to-day lives and delivers invaluable advice in bite size chunks. Now you can find out everything you wanted to know about almost everything. WHAT are the pitfalls of over regulation? WHERE is disruptive technology taking us? WHEN does inequality become excessive? WHY is globalisation good for us? HOW is money created? WHO controls the economy? Bite size advice is a business book, an educational book and a general knowledge book. It is for anyone who wants to understand how the world works. Each chapter is faced-paced and provides great conversation starters. Bite size advice is poised to become the go-to resource for young and old alike.
The Billionaire’s Apprentice
Just as WASPs, Irish-Catholics and Our Crowd Jews once made the ascent from immigrants to powerbrokers, it is now the Indian-American's turn. Citigroup, PepsiCo and Mastercard are just a handful of the Fortune 500 companies led by a group known as the "Twice Blessed." Yet little is known about how these Indian emigres (and children of emigres) rose through the ranks. Until now... The collapse of the Galleon Group--a hedge fund that managed more than $7 billion in assets--from criminal charges of insider trading was a sensational case that pitted prosecutor Preet Bharara, himself the son of Indian immigrants, against the best and brightest of the South Asian business community. At the center of the case was self-described King of Kings, Galleon's founder Raj Rajaratnam, a Sri-Lankan-born, Wharton-educated billionaire. But the most shocking allegation was that the 矇minence grise of Indian business, Rajat Gupta, was Rajaratnam's accomplice and mole. If not for Gupta's nose-to-the-grindstone rise to head up McKinsey & Co and a position on the Goldman Sachs board, men like Rajaratnam would have never made it to the top of America's moneyed elite. Author Anita Raghavan criss-crosses the globe from Wall Street boardrooms to Delhi's Indian Institute of Technology as she uncovers the secrets of this subculture--an incredible tale of triumph, temptation and tragedy.
Stop Trying to Keep Up With the Jone$es
Financial Planning is More Than Investment Selection... Life is about determining what you really want and figuring out how to make it happen. Each of us needs to strike a balance-all it takes is understanding what is truly important to you. Stop Trying to Keep Up with the Joneses... They're Broke Anyway is author Brad Berger's personal approach to financial planning that goes beyond investment options, performance, and avoiding risk to help you identify your family's dreams and to start planning together to make them happen. Inside, you will learn to: - Align your financial choices with your most important goals and most deeply held values - Put your entire financial house in order and keep it that way - Have confidence in your plans and your future in any financial market - Focus on the things in your life that are more important than money.
Finding Your Money's Greater Purpose
Become a Money-Savvy Philanthropist And Get More Out Of Giving Back Each of us holds the power to make a lasting, positive mark on this world with our time and resources. Finding Your Money's Greater Purpose reveals proven strategies that will give you the confidence and clarity to benefit yourself, your family, and the causes, institutions, and charitable organizations that you care about most. Whether you are on the board of a charitable organization or you simply want to make a lasting difference in your community, longtime financial planner Patrick Renn's financial tools, techniques, ideas, and solutions will help you discover just how big of a positive impact you can make long into the future. "Pat Renn has devoted his life's work to helping people manage their financial resources. Early on, Pat realized this required more than just helping people invest responsibly; the greater challenge was to help them make the right decisions about using their resources for their own benefit, for the benefit of their offspring, and for the benefit of others. Now, in Finding Your Money's Greater Purpose, Pat shares his wisdom with all who are willing to listen. Don't miss it--the message is profound." Bob Fisher, CEO of Wesley International, founder of the Woodcrest Foundation, and board chair emeritus and former executive director of The Bascom: A Center for Visual Arts in Highlands, NC "What a delightful and powerful book! I was thoroughly engaged with Pat Renn's storytelling and easy ability to deliver sound principles of investment undergirded with deep generosity and charity. This book is a great model of responsible financial management--responsible to oneself and responsible to the world. Thank you!" The Very Reverend Samuel G. Candler, dean of The Cathedral of St. Philip in Atlanta, GA "There are a lot of charities and donors out there that have no idea where their money is REALLY going. Finding Your Money's Greater Purpose can help them understand the whole range of what is possible. Patrick is a man on a mission to make sure your contributions make the biggest positive impact possible--for you and for the organization you are helping." Peter Jones, president of Franklin Templeton Distributors, Inc. and chairman of Franklin Templeton Institutional, LLC
Regulation A(+)
Discover how to raise money under new provisions in the recently enacted JOBS Act. Regulation A+: How the JOBS Act Creates Opportunities for Entrepreneurs and Investors will guide and advise executives of emerging growth companies, entrepreneurs, financial advisers, venture capitalists, investment bankers, securities lawyers, finance and MBA students, and others on how to raise up to $50 million a year through streamlined regulations. Signed by President Obama on April 5, 2012, Title IV of the JOBS Act amends the 1930s-era Regulation A, making it far easier for businesses to raise growth capital through public offerings. It is, in effect, a new type of IPO but with much less regulation and cost. Regulation A+: How the JOBS Act Creates Opportunities for Entrepreneurs and Investors spells out new processes that can and will have a dramatic impact on how companies obtain growth capital to create new jobs and bolster returns for investors. Some financial gurus believe that the new law, dubbed Regulation A+ due to the enhancements, will usher in a revolutionary period of growth and innovation comparable to our largest past economic expansions. To date, much of the commentary on the JOBS Act has focused on Title III, which allows broader use of crowdfunding to raise up to $1 million per year. However, many entrepreneurs and economists believe that new changes to Regulation A will have a much greater impact on innovation and job creation. The best part? Regulation A+ lifts many constraints on soliciting funds and trading new stock issues. Among other things, readers of this book will learn how to take advantage of these provisions: Regulation A+ permits companies to raise up to $50 million, a tenfold increase over the old limit of $5 million, and much more than the crowdfunding provisions of the JOBS Act ($1 million). Regulation A+ allows companies to market IPOs to more people than just accredited investors and makes it easier to get the word out on offerings. Regulation A+ allows certain companies to avoid the SEC periodic reporting regimen (Form 10-K, Form 10-Q, Form 8-K, and proxy statements), provided that the number of shareholders is kept below revised thresholds. Regulation A+ exempts certain companies from many onerous and costly compliance requirements, including Sarbanes-Oxley. In short, Regulation A+ greatly simplifies the capital-raising process, making it easier to grow companies, create jobs, and reward investors.
Optimize Your Wealth
Are you getting the MOST out of your FINANCIAL RESOURCES?How you define wealth and spend your money has a lot to do with your past. How you were raised and your life experiences shape your finances today and the legacy of your financial security tomorrow. In Optimize Your Wealth, longtime financial literacy advocate Stan Webb breaks down the complex components of financial and estate planning--wealth planning--to empower you to make informed decisions and to maximize your wealth based on your needs and comfort level.Inside, you will discover how to: 1. Enhance your wealth by making smart decisions with your assets 2. Protect your wealth by minimizing threats that can adversely affect it 3. Sustain your wealth by optimizing your resources with an eagle eye toward the futureWhether you are retired, planning to retire, or just joining the work force, Optimize Your Wealth provides the practical knowledge and actionable strategies you need to employ your wealth to its fullest.
Accounting for Derivatives
The derivative practitioner's expert guide to IFRS 9 application Accounting for Derivatives explains the likely accounting implications of a proposed transaction on derivatives strategy, in alignment with the IFRS 9 standards. Written by a Big Four advisor, this book shares the author's insights from working with companies to minimise the earnings volatility impact of hedging with derivatives. This second edition includes new chapters on hedging inflation risk and stock options, with new cases on special hedging situations including hedging components of commodity risk. This new edition also covers the accounting treatment of special derivatives situations, such as raising financing through commodity-linked loans, derivatives on own shares and convertible bonds. Cases are used extensively throughout the book, simulating a specific hedging strategy from its inception to maturity following a common pattern. Coverage includes instruments such as forwards, swaps, cross-currency swaps, and combinations of standard options, plus more complex derivatives like knock-in forwards, KIKO forwards, range accruals, and swaps in arrears. Under IFRS, derivatives that do not qualify for hedge accounting may significantly increase earnings volatility. Compliant application of hedge accounting requires expertise across both the standards and markets, with an appropriate balance between derivatives expertise and accounting knowledge. This book helps bridge the divide, providing comprehensive IFRS coverage from a practical perspective. Become familiar with the most common hedging instruments from an IFRS 9 perspective Examine FX risk and hedging of dividends, earnings, and net assets of foreign subsidies Learn new standards surrounding the hedge of commodities, equity, inflation, and foreign and domestic liabilities Challenge the qualification for hedge accounting as the ultimate objective IFRS 9 is set to replace IAS 39, and many practitioners will need to adjust their accounting policies and hedging strategies to conform to the new standard. Accounting for Derivatives is the only book to cover IFRS 9 specifically for the derivatives practitioner, with expert guidance and practical advice.
Goals-based Wealth Management
Take a more active role in strategic asset allocation Goals-Based Wealth Management is a manual for protecting and growing client wealth in a way that changes both the services and profitability of the firm. Written by a 35-year veteran of international wealth education and analysis, this informative guide explains a new approach to wealth management that allows individuals to take on a more active role in the allocation of their assets. Coverage includes a detailed examination of the goals-based approach, including what works and what needs to be revisited, and a clear, understandable model that allows advisors to help individuals to navigate complex processes. The companion website offers ancillary readings, practice management checklists, and assessments that help readers secure a deep understanding of the key ideas that make goals-based wealth management work. The goals-based wealth management approach was pioneered in 2002, but has seen a slow evolution and only modest refinements largely due to a lack of wide-scale adoption. This book takes the first steps toward finalizing the approach, by delineating the effective and ineffective aspects of traditional approaches, and proposing changes that could bring better value to practitioners and their clients. Understand the challenges faced by the affluent and wealthy Examine strategic asset allocation and investment policy formulation Learn a model for dealing with the asset allocation process Learn why the structure of the typical advisory firm needs to change High-net-worth individuals face very specific challenges. Goals-Based Wealth Management focuses on how those challenges can be overcome while adhering to their goals, incorporating constraints, and working within the individual's frame of reference to drive strategic allocation of their financial assets.
Coined
A New York Times and Wall Street Journal Bestseller From New York Times bestselling author Kabir Sehgal, an informative, rousing, surprising history of the one thing that makes the world go 'round: money. The importance of money in our lives is readily apparent to everyone--rich, poor, and in between. However grudgingly, we are all aware of the power of money--how it influences our moods, compels us to take risks, and serves as the yardstick of success in societies around the world. Yet because we take the daily reality of money so completely for granted, we seldom question how and why it has come to play such a central role in our lives. In Coined: The Rich Life of Money And How Its History Has Shaped Us, author Kabir Sehgal casts aside our workaday assumptions about money and takes the reader on a global quest to uncover a deeper understanding of the relationship between money and humankind. More than a mere history of its subject, Coined probes the conceptual origins and evolution of money by examining it through the multiple lenses of disciplines as varied as biology, psychology, anthropology, and theology. Coined is not only a profoundly informative discussion of the concept of money, but it is also an endlessly fascinating and entertaining take on the nature of humanity and the inner workings of the mind.
Dark Pool & High Frequency Trading for Dummies
A plain English guide to high frequency trading and off-exchange trading practices In Dark Pools & High Frequency Trading For Dummies, senior private banker Jukka Vaananen has created an indispensable and friendly guide to what really goes on inside dark pools, what rewards you can reap as an investor and how wider stock markets and pricing may be affected by dark pools. Written with the classic For Dummies style that has become a hallmark of the brand, Vaananen makes this complex material easy to understand with an insider's look into the topic. The book takes a detailed look at the pros and the cons of trading in dark pools, and how this type of trading differs from more traditional routes. It also examines how dark pools are currently regulated, and how the regulatory landscape may be changing. Learn what types of dark pools exist, and how a typical transaction works Discover the rules and regulations for dark pools, and some of the downsides to trading Explore how dark pools can benefit investors and banks, and who can trade in them Recognize the ins and outs of automated and high frequency trading Because dark pools allow companies to trade stocks anonymously and away from the public exchange, they are not subject to the peaks and troughs of the stock market, and have only recently begun to take off in a big way. Written with investors and finance students in mind, Dark Pools & High Frequency Trading For Dummies is the ultimate reference guide for anyone looking to understand dark pools and dark liquidity, including the different order types and key HFT strategies.
Inside the Fdic
Witness how the FDIC manages your money during financial crises Inside the FDIC tells the real stories behind bank failures and financial crises to provide a direct account of the Federal Deposit Insurance Corporation and other bank regulators. Author John Bovenzi served in senior level positions within the FDIC for over twenty years, including a decade as the Deputy to the Chairman and Chief Operating Officer. This book describes what he witnessed as the person in charge of day-to-day operations, as a nearly invisible agency grew to become a major, highly independent force impacting US financial markets. Readers will learn how the FDIC and other bank regulators use the power of the federal government, spend other people's money, and approach decision-making. This book takes readers inside the FDIC to showcase: The FDIC's emergence as a major market influence How ten FDIC chairmen helped shape the US financial regulatory system Internal conflicts between the FDIC and other bank regulatory agencies Pressures and challenges presented by financial crises Since the early 1980s, over 3,400 banks have failed. These failures weren't steady, regular, and easily predictable events; periods of tranquility were followed by turmoil, booms led to busts, and peaceful complacency often turned to sudden devastation. Inside the FDIC chronicles it all, from the perspective of a first hand witness inside the agency responsible for calming the storm.
Help, I'm Rich!
Manage and protect your wealth with the help of a private bank Help! I'm Rich! is a detailed examination of how private banking services can help high net worth individuals take charge over their wealth and protect their assets. Designed to increase the ability to discern between 'adding value' and 'self-orientation' and thus improve the professional relationship between private bankers and clients, this reader-friendly guide explains the concerns that typically come along with wealth, and the various ways in which private banks can help clients deal with these challenges effectively. You will learn what private banks do, which services they offer, and how to find and approach a private bank. Case studies illustrate the various scenarios presented, and graphs, tables, cartoons and diagrams help facilitate a true understanding of what private banks can do for you. A detailed description of the various asset classes explains the reasons for -- and risks of -- investing at each level, giving you a better idea of the wealth management methods that have proven effective for others in your class. Whether you are new to wealth or are newly tasked with the money management aspect of it, it's vital for you to understand the ways in which your high net worth changes the game. This book is an indispensable guide to understanding the common challenges of the wealthy, and the crucial role private banks play in dealing with these challenges. Understand the challenges wealth brings to money management Discover how private banks can help address specific concerns Learn the questions you should ask your private banker Make better financial decisions by having an expert in your corner The more money you have, the more attention it requires, and the solutions tend to get more complicated. The support of a professional services provider seems not only unavoidable but highly desirable. Help! I'm Rich! shows you how to gain the most out of your private banking experience, with detailed guidance and expert advice.
Understanding Interest Rate Swaps
Across the globe, professional cash, treasury, and portfolio managers, as well as government regulators, are scrutinizing Swaps - innovative, easily customized synthetic investment vehicles that permit savvy users to fine-tune interest rate and currency exposure, manage debt, hedge against geopolitical uncertainty, and dramatically enhance investment portfolio returns. Understanding Interest Rate Swaps presents a clear and compelling picture of the growing $3 trillion Swap market. This hands-on guide keeps readers immediately current with the latest, successful strategies and techniques used by today's top Swap traders and corporate users. And it takes market watchers on a behind-the-scenes tour of the global Swap bazaar, shedding critical light on questions regulators and industry insiders are currently raising about the security and future of the Swap markets. This striking new guide first explains what Swaps are, introducing key concepts and crucial market terminology. It next traces the development of today's red-hot Swaps, disclosing how they originated and grew, and sharing inside information about why financial institutions set up Swap desks and how they currently capitalize on these profitable instruments. Using diagramming techniques, the guide then walks you through a series of realistic Swap examples, building from simple "plain vanilla" transactions - the market's essential building blocks - to nearly two dozen other derivative interest rate products, including Swaptions, Caps, spreadlocks, floors, and collars. You'll find detailed guidelines for using foreign exchange and commodity Swaps, and discover emerging opportunities in the surging equity derivatives market. Formaximum advantage, Understanding Interest Rate Swaps delivers the systematic, empirical guidance you need to master all the methodologies and calculations used in the international Swap market. You'll learn how rates are set, how to evaluate competing quotes from traders, an
Ernst and Young Guide to Performance Measurement for Financial Institutions
Reflects how competitive pressures, tightening interest rates spreads and declining deposits balances have made goals difficult to achieve. Helping readers reach those goals, this book provides insight on asset/liability management, branch profitability, and a bank-wide performance program. It looks at all aspects of profitability.
Zero Lower Bound Term Structure Modeling
Nominal yields on government debt in several countries have fallen very near their zero lower bound (ZLB), causing a liquidity trap and limiting the capacity to stimulate economic growth. This book provides a comprehensive reference to ZLB structure modeling in an applied setting.
The Socially Savvy Advisor + Website
The social media marketing bible for the financial industry The Socially Savvy Advisor: Compliant Social Media for the Financial Industry is the complete guide to creating an effective social media strategy without breaking the big rules. Written by an industry specialist Jennifer Openshaw, alongside Stuart Fross, Fidelity International's former general counsel, and Amy McIlwain, president of Financial Social Media, this book merges marketing basics with FINRA and SEC guidelines to help readers create an effective social media campaign specifically for the finance and investing world. Contributions from industry leaders at Charles Schwab, Citibank, and others provide inside perspective and experience so readers can tap into a new audience. With a focus on compliance, the book clears common hurdles while dispelling myths and outlining effective methods and techniques. Readers also gain access to a website featuring videos, Q & As, tutorials, Slideshare, and a social media policy template. Social media is one of the hottest topics in finance. From solo practitioners to large asset managers, everyone's consumed by how, when, and where to use this new and powerful medium--but guidance is hard to find. The Socially Savvy Advisor covers the entire issue, from platform, to content, to what not to do. Best practices in using social media for advisors and compliance officers Planning for the regulators, vs. failing to plan Challenges with LinkedIn, Facebook, Twitter and other social platforms Elements of a good social media policy Managing the top issues related to marketing and business development, engagement, and compliance With the right plan and the proper technique, social media marketing can dramatically improve client outreach and retention. The Socially Savvy Advisor provides the expert insight, tools, and guidance that shape a robust, effective strategy.
Tax Insight
Tax Insight: For Tax Year 2014 and Beyond will teach you to take control of life's biggest expense--taxes. In your lifetime, you will spend more money on taxes than on anything else. Despite that fact, you likely know the current prices of movies and milk but don't know what your marginal tax rate is. You know where to get the cheapest gallon of gas to save a buck or two, but you don't give a thought to the tax strategies you should be using right now that would save you thousands. It's not hard to understand why--taxes are complicated, unpleasant, and confusing.In Tax Insight, tax expert Casey Murdock opens up the world of taxes with amazing clarity and simplicity. As you will discover, you have within reach numerous ways to reduce your taxes. With everyday language and real-life examples, Tax Insight will give you the keys to minimizing your tax burden.This book contains information you need even if you have a tax advisor or use a program like TurboTax. Tax professionals are busy and sometimes too cautious, and programs often miss opportunities for you to save money. It's also for those of all ages and income levels, including business owners. Tax Insight: Breaks down the key components of taxes with ease and simplicity.Provides a roadmap to paying as little tax as possible.Helps you know if you should do it yourself or hire a professional.While there are many encyclopedic books on taxes--like J.K. Lasser's Your Taxes--there aren't nearly enough that describe the tax code in plain language. Far more than a rehash of impenetrable IRS "help" documents, Tax Insight is organized the way most people think and presents ideas in clear, simple language. If you buy this book and take advantage of its advice, you will save money.
Doug Kass on the Market
Build a bulletproof portfolio with advice from a top market expert Doug Kass on the Market: A Life on TheStreet(TM) provides investment advice and guidance from one of the most renowned traders in the world. Author Doug Kass distills his years of experience as a hedge fund manager and infamous short seller to share the theory, technique, and intuition that built his reputation and his portfolio. Anecdotes about interactions with Wall Street's most famous names, including Buffett, Cramer, and Cooperman, highlight tricks of the trade, essential value investor insight, and the secrets to being a smart short. Doug Kass's reputation as a savvy investor is well-earned and widely recognized. His work on Wall Street gained him heavyweight status, and the friendship, the respect, and the ear of some of the biggest names in finance. As a CNBC regular and 2013 Buffet Bear, Kass is widely known as a trusted source of wisdom and profitable insight. In Doug Kass on the Market, readers learn valuable lessons that that will help them make smarter investment decisions. Kass lists the most important things to know when evaluating a possible long or short investment, and explains the things you're not doing to optimize your portfolio. Topics include: Going against the grain Data versus instinct Valuation, bubbles, and momentum Interest rates, inflation, and the Fed The book also describes how to short a stock properly without losing out and discusses the C-suite conversations that fund managers would never tell a lay shareholder. Kass's record proves the value of his acumen, and this book contains a comprehensive account of his talent and techniques. All investors deserve a chance at a more robust portfolio, and Doug Kass on the Market provides the information and guidance that can make that happen.
Markets for Managers
An accessible text that provides managers with a well-rounded economic awareness Successful managers possess an understanding of economic and market principles as they relate to business itself. Markets for Managers presents managerial economics in a casual, accessible format that will help management professionals take economic realities into account when running their companies or divisions. The book takes a global perspective while covering the full range of micro- and macroeconomic principles that managers around the world need to know. Complete with online resources that include further reading and a YouTube playlist, this guide puts business management practice within its economic context to produce a practical tool for managers. By understanding market operation and what might cause market failure, management professionals can lead companies that respond to market pressures and align operating strategies with economic realities. Monetary and fiscal policies affect businesses of all sizes, and in Markets for Managers, business leaders can learn how to read the ever-shifting fiscal landscape. Delivers market information tailored to managers and the managerial decision-making process Comprehensively explains macro- and microeconomic ideas in language that's accessible Provides concrete suggestions for utilizing market knowledge to improve internal operations and align incentives Helps managers build a global view of business for optimal decision making The practical format of Markets for Managers is perfect for professionals and students who want to gain an applied perspective on today's most pressing economic issues.
Personal Benchmark
In Personal Benchmark: Integrating Behavioral Finance and Investment Management, Chuck Widger and Dr. Daniel Crosby outline the ways in which a program of embedded behavioral finance, fueled by what matters most to you, can be your protection against irrational financial behavior. Along the way, you'll learn how to improve your investment experience, increase returns formerly sacrificed to misbehavior, and worry less about "The Economy" as you become increasingly focused on "My Economy." Welcome to a new way of investing, a new paradigm for conceptualizing wealth, and a system of turning emotion from your portfolio's worst enemy into its best friend! In this new model, risk is simply the likelihood that we will underperform our dreams. Irrationality is acting in ways that thwart our ability to reach those dreams. And the optimal portfolio is not the one that generates the highest return in abstraction, it is the one that helps us meet our goals without killing our nerves before we get there. This book gives advisors the tools needed to effectively communicate the design and execution of the Personal Benchmark solution.
Taxation for Australian Businesses
Simplify tax and save money with streamlined bookkeeping Small businesses are often just that--small. Bookkeeping may be done by a professional outside the company, but more often falls to an employee or the business owner, who may or may not be well-schooled in the intricacies of tax law and business regulations. Tax time can end up costing small businesses a fortune in either professional fees or missed deductions every year. What if you could simplify the process and save money? Taxation for Australian Businesses: Understanding Australian Business Taxation Concessions is the ultimate guide to tax for the small business owner. Author Rod Caldwell, 20-year veteran of the Australian Taxation Office, leads you through the process of managing your books and keeping more straightforward records to simplify the process of filing tax. The introduction of the GST and the new tax system involves a lot of new work for business owners, but Taxation for Australian Businesses eases the way by explaining the intricacies of applicable tax law, fully updated to parallel the May 2014 budget. Topics include: Business structures, accounting systems, and cash accounting FBT, private versus domestic use, and when to record a payment Motor vehicles, the GST, and depreciation Owners salary, end of period processing, and how to account for stock trading The book explains everything you need to know and ties it all together to show you how to put the information into practice. No jargon, no textbooks, just common sense and reason. If you would like to get your bookkeeping straightened out and get back to your business, Taxation for Australian Businesses: Understanding Australian Business Taxation Concessions is the one guide that will get you there quickly.
Being Right or Making Money
STAY A STEP AHEAD OF THE MARKETS BY REJECTING GUESSES ABOUT THE FUTURE AND TRUSTING TECHNIQUES THAT WORK Today there are as many investment opinions as there are people. But as many a scorned investor can attest, predicting the future isn't easy. In fact, Being Right or Making Money, Third Edition explains that reliably predicting the future is often not even possible. The good news is that it isn't necessary either. Once you stop trying so hard to be right about the future, you can start making money. Being Right or Making Money, Third Edition contains a position trading strategy that any serious investor will want to keep nearby. Using the unbiased, objective standard in this book, you can stay on-target for profit in all market conditions. You'll learn how to create asset allocation models in both stocks and bonds, how to make sense out of contrarian opinion, and how to use indicators to keep you focused, no matter what. You won't find any shock-and-awe investing tactics in this book. Instead, Being Right or Making Money, Third Edition presents the solid trading model that has made Ned Davis Research Group a go-to source for market wisdom.
The New Trading for a Living
Test your trading knowledge and skills--without risking any money You may read the best trading book, but how much of that knowledge will you retain a week later? This is why you need this Study Guide for The New Trading for a Living. It'll give you a firmer grasp of the essential trading rules and skills. This Study Guide, based on the bestselling trading book of all time, was created by its author to help you master the key points of his classic book. The Study Guide's 170 multiple-choice questions are divided into 11 chapters, each with its own rating scale. They cover the entire range of trading topics, from psychology to system design, from risk management to becoming an organized trader. Each question is linked to a specific chapter in the main book, while the Answers section functions like a mini-textbook. It doesn't just tell you that A is right or B is wrong--it provides extensive comments on both the correct and incorrect answers. This Study Guide also contains 17 charts that challenge you to recognize various trading signals and patterns. Everything is designed to help you become a better trader. Consider getting two books as a package--the Study Guide and The New Trading for a Living. They're designed to work together as a unique educational tool. The Study Guide for The New Trading for a Living is a valuable resource for any trader who wants to achieve sustainable market success.
Central Banking
Understand the theories and interpret the actions of modern central banks Central Banking takes a comprehensive look at the topic of central banking, and provides readers with an understanding and insights into the roles and functions of modern central banks in advanced as well as emerging economies, theories behind their thinking, and actual operations practices. The book takes a systematic approach to the topic, while providing an accessible format and style that is appropriate for general audiences and students with only a minimal macroeconomic background. Theoretical reviews and examples of how the theories are applied in practice are presented in an easy-to-understand manner and serve as a guide for readers to further investigate specific ancillary central banking topics and as a means to make informed judgments about central bank actions. Important topics covered in the book include: Evolution of central banking functions and the international monetary system Theoretical backgrounds that are the foundation to the modern practice of monetary policy Monetary policy regimes, including exchange rate targeting, money supply growth targeting, the risk management approach, inflation targeting, and unconventional monetary policy. Actual practice in market operations and transmission mechanisms of monetary policy The exchange rate and central banking Theoretical backgrounds related to various dimensions of financial stability Current developments with regards to sustaining financial stability The future of central banking in the wake of the 2007-2010 global financial crisis Case studies on relevant practical issues and key concepts in central banking Designed as essential reading for students, market analysts, investors, and central banks' new recruits, Central Banking better positions readers to interpret the actions of central banks and to understand the complexities of their position in the global financial arena.
Beyond the Crash
Brown speaks both as someone who was in the room driving discussions that led to some crucial decisions and as an expert renowned for his remarkable financial acumen. No one who had Brown's access has written about the crisis yet, and no one has written so convincingly about what the global community must do next in order to climb out of this abyss. Brown outlines the shocking recklessness and irresponsibility of the banks that he believes contributed to the depth and breadth of the crisis. As he sees it, the crisis was brought on not simply by technical failings, but by ethical failings too. Brown argues that markets need morals and suggests that the only way to truly ensure that the world economy does not flounder so badly again is to institute a banking constitution and a global growth plan for jobs and justice. Beyond the Crash puts forth not just an explanation for what happened, but a directive for how to prevent future financial disasters. Long admired for his grasp of economic issues, Brown describes the individual events that he believes led to the crisis unfolding as it did. He synthesizes the many historical precedents leading to the current status, from the 1933 London conference of world leaders that failed to resolve the Great Depression to the more recent crash in the Asian housing market. Brown's analysis is of paramount importance during these uncertain financial times. As Brown himself said of his ideas for the future, "We now live in a world of global trade, global financial flows, global movements of people, and instant global communications. Our economies are connected as never before, and I believe that global economic problems require global solutions and global institutions. In writing my analysis of the financial crisis, I wanted to help explain how we got here, but more important, to offer some recommendations as to how the next stage of globalization can be managed so that the economy works for people and not the other way around."
Seeing the Elephant
Thanks to globalization, more countries depend on each other for trade, capital, and ideas than ever before. Yet politically, these countries are drifting further apart. In Seeing the Elephant, author and emerging markets expert Peter Marber describes how increasing economic integration and the rise of new actors is drastically altering the geopolitical landscape, and offers insights on how the US can maintain a leading role in the 21st century and beyond. While America remains the single most important economy today, rising economic powerhouses -- China, Russia, India, Brazil and others -- bring a diverse set of interests to the table that the US cannot afford to ignore, Marber explains. Moreover, globalization has created thousands of non-state actors - corporations, banks, hedge funds, activists and even terrorists - who bring their own concerns to bear on the world system. In the era of globalization, America's success hinges on the success of its neighbors, too. Yet from its invasion of Iraq to its disregard of major treaties -- some recent US choices have shown little regard for these new players. As the lines between economic, defense, environmental, immigration, and energy policy become increasingly blurred, having a holistic and coherent approach to cross-border challenges is essential. Yet the forums and institutions that once coordinated these relationships - the UN, World Bank and the G7-- are losing relevance and no longer adequately represent the world's expanded power roster. To remain vital, Marber believes all our multilateral institutions will require fresh ideas and revamping. Seeing the Elephant demystifies globalization, and analyzes the megatrends and interconnections of the 21st century. With bold suggestions on how America reassert its historic leadership in the new global arena, Seeing the Elephant should be required reading for policy makers, businessmen and informed citizens alike.
Finance for Nonfinancial Managers, Second Edition (Briefcase Books Series)
AN INTRODUCTION TO FINANCIAL REPORTS--WITH NEW TACTICSFOR BUDGETING AND PINPOINTING KEY FINANCIAL AREASFinancial decisions impact virtually every area of your company. As a manager, it's up to you to understand how and why.Finance for Nonfinancial Managers helps you understand the information in essential financial reportsand then shows you how to use that understanding to make informed, intelligent decisions. It provides a solid working knowledge of: Basic Financial Reports--All about balance sheets, income statements, cash flow statements, and moreCost Accounting--Methods to assess which products or services are most profitable to your firmOperational Planning and Budgeting--Ways to use financial knowledge to strengthen your companyBriefcase Books, written specifically for today's busy manager, feature eye-catching icons, checklists, and sidebars to guide managers step-by-step through everyday workplace situations. Look for these innovative design features to help you navigate through each page: Key Terms: Clear defi nitions of key terms and conceptsSmart Managing: Tactics and strategies for managing changeTricks of the Trade: Tips for executing the tactics in the bookMistake Proofing: Practical advice for minimizing the possibility of errorCaution: Warning signs for when things are about to go wrongFor Example: Examples of successful change-management tacticsTools: Specific planning procedures, tactics, and hands-on techniques
Working Capital Management
Stay liquid, think global, and better manage resources with this authoritative guide Working Capital Management is a comprehensive primer on keeping your business financially competitive in the face of limited access to short-term funds. With detailed insight applicable to each phase in the business cycle, this authoritative guide helps managers revamp current practices for more efficient use of assets and liabilities, including more stringent monitoring and planning of collections, disbursements, and balances. Readers will learn how to minimize investments in idle resources, and how to maximize the use of forecast data to better identify risk and the optimal use of available funds. Case studies illustrate the practical applications of the ideas presented, with particular attention given to cash budgeting, forecasting, banking relationships and other common scenarios with specific requirements. Managing a company's short-term resources is both an art and a science. Effectively maintaining funds for ongoing activities - and keeping those funds liquid, mobile, and available - is a masterful skillset lacking in business. Working Capital Management offers practical advice for managers in this challenging position, providing guidance that helps them: Learn the specific metrics at work in capital management, and the problems that they can cause Improve cash management with robust fraud protection and better use of short-term instruments Manage the issues that arise from accounts receivable, inventory, payables, information management, and international sources Develop an effective management system for key points in the working capital cycle The recent liquidity crisis in the U.S. has thrown the spotlight onto those companies that have adjusted well to credit contraction and the weakened economy, and these success stories - some of which are noted in the book - demonstrate that a positive business outcome can be accomplished. Working Capital Management provides a clear look at a complex issue, with practical, actionable, sustainable advice.
Due Diligence for Global Deal Making
Companies of all sizes have been initiating international transactions--mergers and acquisitions, joint ventures, strategic alliances, and private placements--in record numbers. Targeted due diligence is crucial to effectively research, value, and complete these complex deals. With an evolving climate of uncertainty and new, unpredictable threats to business, it is more essential than ever before. Due Diligence for Global Deal Making is an invaluable guidebook for companies trying to capitalize on the opportunities in both developed and emerging cross-border markets. All too often global transactions fail to meet the parties' expectations, and the leading culprit is inadequate due diligence. Especially when the target partner lacks a financial performance track record and significant assets, expanding businesses must answer difficult questions, such as: Why (if at all) do this deal? What are the rules going in, and what happens if things go wrong? Where are the tax, legal, financial, and operational traps, and what are the opportunities? This book provides what's needed to avoid devastating mistakes and to master the steps that ensure success: Expert analysis, insights, and strategies from experienced practitioners and leading authorities in cross-border matters In-depth coverage of critical topics decision makers need to understand in order to succeed in cross-border transactions--from corporate planning to operational, financial, legal, tax, accounting, and people/organizational considerations Best practices of corporate investors and professional advisers in conducting critical due diligence Noted experts discuss critical topics corporate executives--and all those involved with their company's legal, operational, accounting, and tax matters--need to know to successfully complete complex global transactions today.
Capital Inflation and the Multinationals
Capital Inflation and the Multinationals, first published in 1971, provided a totally new perspective on the spread of inflation and expansion of multinational corporations, linking them in a common theory based on a thorough analysis of the modern role of capital financing in the global economy. The conclusions reached are still of interest and relevance to professional economists and students, political practitioners and commentators.
Banker's Guide to New Small Business Finance, + Website
Detailed, actionable guidance for expanding your revenue in the face of a new virtual market Written by industry authority Charles H. Green, Banker's Guide to New Small Business Finance explains how a financial bust from one perfect storm--the real estate bubble and the liquidity collapse in capital markets--is leading to a boom in the market for innovative lenders that advance funds to small business owners for growth. In the book, Green skillfully reveals how the early lending pioneers capitalized on this emerging market, along with advancements in technology, to reshape small company funding. Through a discussion of the developing field of crowdfunding and the cottage industry that is quickly rising around the ability to sell business equity via the Internet, Banker's Guide to New Small Business Finance covers how small businesses are funded; capital market disruptions; the paradigm shift created by Google, Amazon, and Facebook; private equity in search of ROI; lenders, funders, and places to find money; digital lenders; non-traditional funding; digital capital brokers; and much more. Covers distinctive ideas that are challenging bank domination of the small lending marketplace Provides insight into how each lender works, as well as their application grid, pricing model, and management outlook Offers suggestions on how to engage or compete with each entity, as well as contact information to call them directly Includes a companion website with online tools and supplemental materials to enhance key concepts discussed in the book If you're a small business financing professional, Banker's Guide to New Small Business Finance gives you authoritative advice on everything you need to adapt and thrive in this rapidly growing business environment.
Electronic Payments, Mobile Commerce, and Virtual Banking
Technology is permanently transforming the banking industry, and digital payments are the key Electronic Payments, Mobile Commerce, and Virtual Banking: A Guide to Innovation, Partnering, and Regulation takes a hands-on approach to competing in the modern banking environment. Former PayPal Head of Financial Innovation Dan Schatt explores the reasons behind the massive consumer migration away from traditional banks, and provides clear, actionable guidance on beating new banking models at their own game. Digital payment is the hottest topic in banking today, and is set to define the future of the industry. Consumers are rapidly abandoning traditional banks in favor of institutions that are lower-cost and more consumer-centric. Between the pace of financial regulatory reform and the cloud computing revolution, the old banking model is on the fast track to extinction. Electronic Payments, Mobile Commerce, and Virtual Banking provides the information banks need to compete in this new environment, and details the integral implementation actions that will allow them to thrive. The book discusses real-world innovations from banks, non-banks, and up and comers, and the heavy competition from the new outsource bank model. Topics include: The changing POS landscape and the need for digital wallet partnerships Shifting gears to greenfield market opportunities versus non-profitable markets Digital channel best practices for superior customer experience When to outsource, and what capabilities to truly own Case studies including PayPal, Google, Square, Facebook, Twitter, and more illustrate acceleration of innovation through banking partnerships, as well as the mechanics behind banking's biggest, scariest threats. The trick to surviving the paradigm shift is to embody innovation while providing a superior customer proposition. Electronic Payments, Mobile Commerce, and Virtual Banking: A Guide to Innovation, Partnering, and Regulation provides the inside track on managing the shift and dominating the new marketplace.
The American Dream Declassified
A must-read, insightful blueprint to fulfilling your dreams and potentials of becoming financially emancipated. This book is a culmination of 4 years of extensive and meticulous research to uncover why some people do so well in the capitalist economy while the vast majority struggle to make ends meet. My quest was to discover answers to these elusive questions about the few who are doing so handsomely well: What do they know? What do they do differently? The research results were a total shock to my very core. I simply could not believe how uncomplicated it really is to create wealth and live the American Dream. "For lack of knowledge my people perish."---Hosea 4:6. Education is THE KEY to success in any endeavor. Financial Education is THE KEY to financial success, and in the current globalized economic environment, everyone needs that in addition to their degrees, diplomas, and professional training. That need is essential and cardinal now than ever before. This book provides the entire Financial Education package, which would help readers expand their means rather than just managing their current, often meagre means, in an easy-to understand step-by-step approach towards Financial Freedom.
The American Dream Declassified
A must-read, insightful blueprint to fulfilling your dreams and potentials of becoming financially emancipated. This book is a culmination of 4 years of extensive and meticulous research to uncover why some people do so well in the capitalist economy while the vast majority struggle to make ends meet. My quest was to discover answers to these elusive questions about the few who are doing so handsomely well: What do they know? What do they do differently? The research results were a total shock to my very core. I simply could not believe how uncomplicated it really is to create wealth and live the American Dream. "For lack of knowledge my people perish."---Hosea 4:6. Education is THE KEY to success in any endeavor. Financial Education is THE KEY to financial success, and in the current globalized economic environment, everyone needs that in addition to their degrees, diplomas, and professional training. That need is essential and cardinal now than ever before. This book provides the entire Financial Education package, which would help readers expand their means rather than just managing their current, often meagre means, in an easy-to understand step-by-step approach towards Financial Freedom.
Advancing Singapore-China Economic Relations
This book presents a detailed account of the development of strong and substantive economic relations that existed between Singapore and China since the time when the two countries established diplomatic ties in October 1990. The chapters provide a comprehensive discussion of the main areas of cooperation, such as the institutional framework for pursuing economic links, the Suzhou Industrial Park, the Sino-Singapore Tianjin Eco-City, investments, trade, finance, tourism and education. The economic opportunities and challenges in these economic sectors in the two countries are examined in the context of the profound political and social changes taking place in mainland China and the globalization of the world economy. The book will be invaluable to policy-makers, academics and students specializing in Chinese studies, as well as businessmen and the general public interested in seeking a greater understanding of the complex economic relations between the two nations.
Forty Years of Investor Mistakes
TOOLS TO DEVELOP A LIFELONG INCOME, FREE OF FEAR IN HIS FORTY YEARS AS A FINANCIAL AND RETIREMENT ADVISOR, Bill Riley has seen it all. He has seen his industry neglect the very people it purports to serve. Riley has a better way. And in Forty Years of Investor Mistakes he shares what you need to know now - before it's too late. Riley wants to spare you the mistakes that he often sees among people preparing for retirement - or who already are there. Those mistakes can turn dreams into drudgery, as so many retirees learned so well in recent years, as their proud portfolios dwindled. It didn't have to be that way. Riley understands how troubling this new phase of life can be, but he also knows you deserve the fulfillment you worked so hard to attain. He has helped countless clients make the most of their savings and develop a lifelong income, free of fear, so they can reach their goals confidently. In fact, it all starts with goals. He does far more than analyze your finances. He gets inside your head. For what purpose did you save that money? Riley focuses first on helping you figure out where you are going with your life - because it's only when you see that destination that he can best help you get there. Along the way, Riley will make sure you have enough to live well, day by day. With discipline and dedication to fundamentals, he can keep you out of trouble in tough economic times and help you to flourish in the good times. He rallies decades of experience and teamwork to create a retirement plan designed just for you. In Forty Years of Investor Mistakes Bill Riley shows you the better way - the culture of caring, as he calls it. He brings you the kind of retirement planning that will help you to live well, sleep well, and preserve your legacy for generations to come.
Glossary of Financial markets terminology
This book "Glossary of Financial markets terminology is intended for Treasury professionals and ACI candidates.
Investing Psychology + Website
Discover how to remove behavioral bias from your investment decisions For many financial professionals and individual investors, behavioral bias is the largest single factor behind poor investment decisions. The same instincts that our brains employ to keep us alive all too often work against us in the world of finance and investments. Investing Psychology + Website explores several different types of behavioral bias, which pulls back the curtain on any illusions you have about yourself and your investing abilities. This practical investment guide explains that conventional financial wisdom is often nothing more than myth, and provides a detailed roadmap for overcoming behavioral bias. Offers an overview of how our brain perceives realities of the financial world at large and how human nature impacts even our most basic financial decisions Explores several different types of behavioral bias, which pulls back the curtain on any illusions you have about yourself and your investing abilities Provides real-world advice, including: Don't compete with institutions, always track your results, and don't trade when you're emotional, tired, or hungry Investing Psychology is a unique book that shows readers how to dig deeper and persistently question everything in the financial world around them, including the incorrect investment decisions that human nature all too often compels us to make.
The Independence of the Federal Reserve System
The Federal Reserve Act became law on December 23, 1913. The need for the new monetary system for which this law provided was traceable to the frequently stated causal connection between crises and failure in the banking and currency system and crises and failure in commerce, industry, and agriculture. The supporters of the law argued that the continued prosperity and growth of the nation demanded that monetary malfunctions be cured. The powers and responsibilities given to the new system were enveloped in structural arrangements designed to assure the organization itself as well as the nation that there would be competent, adequate, and independent authority to provide for a more efficient monetary system. Although unique, the solution was not simple in either structure or operation, for besides protecting itself from the dangers of government or private ­banker domination, the Federal Reserve System had to win and keep the help and cooperation of this same government and these same private banks. The System maintained its independence in two ways. First, the Federal Reserve System found its fundamental meaning in the "governmental" function delegated to it by Congress--the formation and execution of credit and monetary policy for public purposes. Yet it was set apart from the ordinary legislative and executive departments of the government. Second, the System worked to achieve its purposes by acting through and with the cooperation of the nation's private financial interests. Yet it was separate from those interests. The Federal Reserve System was designed to cooperate and still be independent. How it promoted this harmony, and yet avoided domination was its glory and its cross. It is of the history of this achievement that this book tells.
The Death of Money
"The next financial collapse will resemble nothing in history. . . . Deciding upon the best course to follow will require comprehending a minefield of risks, while poised at a crossroads, pondering the death of the dollar."The international monetary system has collapsed three times in the past hundred years, in 1914, 1939, and 1971. Each collapse was followed by a period of tumult: war, civil unrest, or significant damage to the stability of the global economy. Now James Rickards, the acclaimed author of Currency Wars, shows why another collapse is rapidly approaching--and why this time, nothing less than the institution of money itself is at risk. The American dollar has been the global reserve currency since the end of the Second World War. If the dollar fails, the entire international monetary system will fail with it. No other currency has the deep, liquid pools of assets needed to do the job. Optimists have always said, in essence, that there's nothing to worry about--that confidence in the dollar will never truly be shaken, no matter how high our national debt or how dysfunctional our government. But in the last few years, the risks have become too big to ignore. While Washington is gridlocked and unable to make progress on our long-term problems, our biggest economic competitors--China, Russia, and the oilproducing nations of the Middle East--are doing everything possible to end U.S. monetary hegemony. The potential results: Financial warfare. Deflation. Hyperinflation. Market collapse. Chaos. Rickards offers a bracing analysis of these and other threats to the dollar. The fundamental problem is that money and wealth have become more and more detached. Money is transitory and ephemeral, and it may soon be worthless if central bankers and politicians continue on their current path. But true wealth is permanent and tangible, and it has real value worldwide. The author shows how everyday citizens who save and invest have become guinea pigs in the central bankers' laboratory. The world's major financial players--national governments, big banks, multilateral institutions--will always muddle through by patching together new rules of the game. The real victims of the next crisis will be small investors who assumed that what worked for decades will keep working. Fortunately, it's not too late to prepare for the coming death of money. Rickards explains the power of converting unreliable money into real wealth: gold, land, fine art, and other long-term stores of value. As he writes: "The coming collapse of the dollar and the international monetary system is entirely foreseeable. . . . Only nations and individuals who make provision today will survive the maelstrom to come."
Biggs on Finance, Economics, and the Stock Market
Released to the public for the first time, writings by the incomparable Barton Biggs Long considered one of the best brains on Wall Street, Barton Biggs acquired the stature of a legend within his lifetime. Among his many coups, he accurately called the rise and fall of the dot-com market, and was an energetic promoter of emerging markets, including China, well before American businesses began flocking there--and he made vast fortunes for his clients, in the process. But, as this fascinating book confirms, it wasn't Biggs's genius as a market analyst and hedge fund manager alone that made him special. The product of a keen and broad-ranging intellect in full command of his subjects--and the English language--the letters compiled in this volume leave no doubt that Barton Biggs was one of the most interesting observers of Wall Street, the financial world, and the human comedy, ever to set pen to paper. Released from Morgan Stanley's archives and made public for the first time, the letters compiled in this volume add new luster to Biggs's reputation as a first-class finance author Address the most essential aspects of high-frequency trading, from formulation of ideas to performance evaluation Shares Biggs's fascinating insights and uncannily accurate predictions about an array of economic and financial topics, liberally peppered with historical references and wry humor Organized thematically, the letters showcase Barton Biggs's observations on finance, economics and the stock market, from 1980 to 2003
I Am John Galt
Inspired by Ayn Rand's characters in Atlas Shrugged and The Fountainhead, penetrating profiles of both the innovators who move our world forward and those who seek to destroy the achievement of others John Galt, the fictional character from Ayn Rand's bestselling novel, Atlas Shrugged, has come to embody the individualist capitalist who acts in his own enlightened self interest, and in doing so lifts the world around him. Some of today's most successful CEOs, journalists, sports figures, actors, and thinkers have led their lives according to Galt's (i.e., Rand's) philosophy. Now, in I Am John Galt, these inspiring stories are gathered with the keen insight and analysis of well-known market commentator Donald Luskin and business writer Andrew Greta. Filled with exclusive interviews, profiles, and analyses of leading financial, business, and artistic stars who have based their lives, and careers, on the philosophy of the perennially popular Ayn Rand, this book both inspires and enlightens. On the other side are Rand's arch villains?the power-seekers, parasites, and lunatics who would destroy that which the creators and builders make. Who are today's anti-heroes, fighting the creativity of the innovators? Contains insightful interviews, profiles, and analyses of the individuals who have lived by a Randian code to achieve greatness for themselves and others Offers a probing analysis of those who seek to destroy or undo the achievements of others?from academics, pundits, and government bureaucrats to fraudsters who have wreaked havoc on our world Engaging and entertaining, I Am John Galt examines how the inspiration that is Galt thrives more than 50 years after publication of Atlas Shrugged. It will spark the interest of Ayn Rand fans everywhere, as well as those seeking a way to succeed in today's turbulent and confusing times.
