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This book charts the development of the new rural economy and considers whether government policy has similarly developed. In the rural economy, tourism now employs more people that agriculture, and the agricultural sector itself has become much more diverse. But the government bodies charged with delivering countryside policy very often seem wedded to a view of the rural economy and the traditional agricultural sector as synonymous. In "The New Rural Economy", Professor Berkeley Hill of Imperial College London analyzes the appropriate roles of the public and private sectors in the developing rural economy and questions whether evidence of 'market failure' necessarily justifies government intervention, if 'government failure' imposes greater costs than the problems intervention was intended to remedy.This book is an essential reading for those concerned with the development of the countryside and the proper role of government in creating a sustainable, long-term future for those living and working in rural Britain.
The recent changes in equity, derivatives and commodity exchanges are opening opportunities for exchanges, investment banks and capital markets generally. Despite the market capitalization of companies listed on exchanges running into trillions of dollars worldwide, there is no mainstream book using extensive research to address the major issues facing the whole industry. This book by an expert insider will fill this gap with a comprehensive review of history and evolution, new technologies and the future of exchanges.
"It's hard to talk clearly about investing and make sense to
ordinary readers at the same time. Katsenelson gives a lucid
explanation of today's markets with sound advice about how to make
money while avoiding the traps that the market sets for exuberant
bulls and frightened bears alike."
"A thoroughly enjoyable read. Provides a clear framework for
equity investing in today's 'sideways' and volatile markets useful
to everyone. Clear thinking and clear writing are not often paired
- well done "
"The bible for how to invest in the most tumultuous financial
market environment since the Great Depression. A true guidebook for
how to build wealth prudently."
"A wonderful, grounded read for new and seasoned investors
alike, Katsenelson explains in plain English why volatility and
sideways markets are a stock picker's best friend."
Praise for Active Value Investing
"This book reads like a conversation with Vitaliy: deep,
insightful, inquisitive, and civilized."
"Thoroughly enjoyable . . for the thoughtful and often
entertaining way in which it is delivered. . . Katsenelson takes
his reader step by step into the mind of the value investor by
relating, in a fictional addendum to Fiddler on the Roof, the story
of Tevye's purchase of Golde, the cow. He also describes his own
big-time gambling evening (he was willing to lose a maximum of $40)
and that of a half-drunken, rowdy fellow blackjack player to stress
the importance of process. He then moves on to the fundamental
principles of active value investing. What differentiates this book
from so many others on value investing is that it describes,
sometimes through the use of case studies, the thinking of a value
investor. Not just his models or his metrics but his assessments.
Katsenelson is an empiricist who weighs facts, looks for
contraindications, and makes decisions. He makes value investing
come alive. This may be a little book, but it's packed with
insights for both novices and experienced investors. And it is a
delight to read."
The British Government has focused the discussion on the adoption of the euro on its economic consequences. Whilst there are economic arguments for the UK joining the euro, those arguments are not a matter of 'life and death'. The political implications of the UK joining the euro are much more important. Here the most crucial aspects of the debate are not notions of 'sovereignty' on the one hand or 'maintaining influence' on the other: the key reason to maintain sterling should be to ensure 'monetary competition'. Competition between currencies will make it less likely that central banks will create inflation. Monetary competition should form part of a more general political package. Monetary arrangements will strongly influence the kind of European Union we build, and the arguments in The Euro as Politics can be applied to a wide range of European policy areas. Professor Schwartz argues that the UK should seek to build a free-trade Europe based upon competition and not based upon harmonisation of regulation and laws.
Yielding new insights into important market phenomena like asset price bubbles and trading constraints, this is the first textbook to present asset pricing theory using the martingale approach (and all of its extensions). Since the 1970s asset pricing theory has been studied, refined, and extended, and many different approaches can be used to present this material. Existing PhD-level books on this topic are aimed at either economics and business school students or mathematics students. While the first mostly ignore much of the research done in mathematical finance, the second emphasizes mathematical finance but does not focus on the topics of most relevance to economics and business school students. These topics are derivatives pricing and hedging (the Black-Scholes-Merton, the Heath-Jarrow-Morton, and the reduced-form credit risk models), multiple-factor models, characterizing systematic risk, portfolio optimization, market efficiency, and equilibrium (capital asset and consumption) pricing models. This book fills this gap, presenting the relevant topics from mathematical finance, but aimed at Economics and Business School students with strong mathematical backgrounds.
This monograph focuses on those stochastic quickest detection tasks in disorder problems that arise in the dynamical analysis of statistical data. These include quickest detection of randomly appearing targets, of spontaneously arising effects, and of arbitrage (in financial mathematics). There is also currently great interest in quickest detection methods for randomly occurring intrusions in information systems and in the design of defense methods against cyber-attacks. The author shows that the majority of quickest detection problems can be reformulated as optimal stopping problems where the stopping time is the moment the occurrence of disorder is signaled. Thus, considerable attention is devoted to the general theory of optimal stopping rules, and to its concrete problem-solving methods. The exposition covers both the discrete time case, which is in principle relatively simple and allows step-by-step considerations, and the continuous-time case, which often requires more technical machinery such as martingales, supermartingales, and stochastic integrals. There is a focus on the well-developed apparatus of Brownian motion, which enables the exact solution of many problems. The last chapter presents applications to financial markets. Researchers and graduate students interested in probability, decision theory and statistical sequential analysis will find this book useful.
Increasingly today, in every age group, consumers are committing to brands that show good citizenship--from fair employment practices, to social responsibility, to charitable giving. In fact, support of these generous and socially aware companies is so high that it is safe to say that good works and charitable giving are no longer optional for the company that aspires for financial success--they are necessary!Do Good documents the sea of change that has impacted the twenty-first-century marketplace more than even the most optimistic of business forecasters. Toms grew into a $600 million company by giving away 35 million pair of shoes. Patagonia's profits have climbed year after year even as it funnels heavy investments into sustainability. From CVS's destocking cigarettes to Chipotle's ethical sourcing, customers have shown with their wallets the types of businesses they will support and that they will quickly call out negligence.Buyers today demand more than half-hearted pledges from companies who are clearly just trying to show less profits and decrease their taxes. By implementing the five-step model for the new rules of business laid out in Do Good--Trust, Enrichment, Responsibility, Community, and Contribution--companies can take the necessary steps to embed social consciousness into their DNA, in turn capturing both markets and hearts.
Go beyond technical analysis tools with this comprehensive look at trading analysis
Strategies for successful trading analysis for all markets are out there, but they're not often found in books for the general public. So what are the secrets that professional traders know, but aren't willing to share? "An End to the Bull: Cut Through the noise to Develop A Sustainable Trading Career" is a robust, honest resource that presents an alternative approach to the markets, combining traditional technical tools with fundamental analysis, behavioral finance, and other key concepts to enrich readers' trading knowledge. The author's comprehensive, educated look at the topic fills a huge need in the trading community, and is ideal both for novices and experienced traders.
In "An End to the Bull," Norden suggests that total reliance on traditional technical analysis can lead to failure, and has ended in disappointment for many. The book offers up a unique approach for anyone looking to establish a sustainable trading career based on a combination of the most tried-and-true methods. While it focuses especially on trading in Australia, the book is a useful resource for international traders at all levels.Explains why change is needed in trading analysis and presents a revolutionary approach used by successful professional tradersShares the core techniques and strategies to build knowledge and establish a business-minded attitudeDiscusses more advanced ideas crucial for all traders, including understanding volatility and the typical flaws of behavioral financeGives solid advice for traders anywhere in the world
"An End to the Bull" takes the mystery out of trading analysis and puts the power to navigating markets into the hands of readers.
Tailoring retirement for successful business leaders
Traditional retirement planning fails to meet the needs of wealthy baby boomers, particularly those who are business leaders. There is no "one size fits all" answer.
Wealth Regeneration at Retirement: Planning for a Lifetime of Leadership presents an alternative - one that acts more like a GPS. The authors, Kaycee Krysty and Bob Moser, leaders of the highly regarded Seattle-based wealth management firm, Laird Norton Tyee, use a proprietary discipline, Wealth Regeneration(R), to calculate the route to retirement and beyond for those at the top.
The authors challenge successful boomers to redefine retirement on their own terms. They outline a process to create a sustainable plan to achieve retirement objectives. Their years of experience in counseling CEO's and business founders through transitions is reflected throughout. For many successful boomers, the answer to the prospect of retirement has been, "I'd rather not." Yet change is inevitable. Wealth Regeneration at Retirement provides a thoughtful and thorough way for leaders to move onward.
Describing Wealth Regeneration in a digestible, actionable format, the book provides the framework, tools, and techniques that successful baby boomers and their advisors need to incorporate this innovative approach for a lifetime of leadership and legacy. Packed with learning aids, including graphics, diagrams, worksheets and exercises, the book helps readers build a unique life plan that is about more than simply retirement.
The book includes: A proprietary approach to retirement planning that changes seamlessly when times and circumstances changeA four component methodology - Where You Are; What You Want; What to Do; and Make it Happen - to ensure continuous feedback, accountability, and measurement of lifetime goalsRetirement planning expertise from wealth management firm Laird Norton Tyee
Wealth Regeneration at Retirement: Planning for a Lifetime of Leadership is artfully illustrated and filled with practical advice for wealthy baby boomers and the financial advisors they rely on. It explains exactly how to build a personalized and sustainable plan for retirement no matter where life may lead.
The new and updated edition of the M&A classic delivers everything you need to develop and implement winning deals in the post-crisis landscape The Art of M&A is a one-stop guide to every facet of mergers and acquisitions for all high-level stakeholders. In addition to thorough updates on strategy, valuation, financing, structuring, due diligence, and other essential topics, it provides critical new content on: *The impact of the JOBS Act and recent rules affecting IPOs *New FASB rules for revenue recognition and lease accounting *Delaware's new Section 251(h) *New valuation principles *Changes to tax laws in the U.S. and Europe*New landmark M&A cases This guide is a must-read for everyone on both the buy and sell sides-including senior executives tasked with growing their businesses; investment bankers who structure transactions; attorneys responsible for due diligence, negotiation, and closing; and accountants who advise buyers and sellers.
Based on a formal six-step process for analysis and decision-making, this book employees an external focus, with particular emphasis on credit and equity investment decisions. This concise yet comprehensive treatment of the subject covers financial statements, accounting information, stock market information, economic and industry information, and other sources for recommendations and decisions. Assuming a reasonable understanding of basic accounting and finance principles the book expands from these principles to structure financial analysis for specific recommendations or decisions.
A revolutionary system for fearless trading without excessive risk
"Trading Risk provides a useful and intuitive roadmap of the
risk management process, as written by an individual with unique
experience and insight into this topic. It is an engaging read and
covers complex subject matter in a straightforward and
"Ken Grant's eminently readable new book on risk management is a
rare blend of theory and practical applications. It is a great
starting point for the novice and deep enough for the experienced
"This book describes a very practical approach to risk
management in a lucid and entertaining manner. Anyone concerned
with the topic of risk management ought to find it of
"Thoughtful, unique, detailed, actually enjoyable, and
comprehensible reading for what is normally a boring and confusing
"A must-read for risk managers of companies of all sizes who
want to preserve capital and take practical advantage of trends in
the marketplace. This is a clearly written, funny, and entertaining
guide to a very serious topic that affects all corporations. This
very complex topic was simplified and made easy to understand by a
true expert in the art of risk management."
The overriding philosophy of this text is to provide the instructor with comprehensive coverage of ethical and professional issues encountered by accounting professionals. The book is devoted to helping students cultivate the ethical commitment needed to ensure that their work meets the highest standards of integrity, independence, and objectivity. Ethical Obligations and Decision Making in Accounting is designed to provide the instructor with the best flexibility and pedagogical effectiveness of any book on the market. To that end, it includes numerous features designed to make both learning and teaching easier.
Run Time: 78 minutes. "I was right - but I'm still losing money." Sound familiar? Frustrations abound in the options arena. Learning what to expect, and how to react, are the real keys to option trading success.
Now, renowned author and "Trader's Hall of Famer" Larry McMillan shows you how to avoid the 5 most common - and costly - mistakes option traders make. Benefit from the guidance of this options guru, as he highlights the 5 major problem areas traders frequently fall victim to. McMillan shows you what to do in typical tough spots - and how to avoid them in the future.
Master his methods for: Using put-call ratios as a critical timing toolPicking the right option for your trading style & goalsDeciding how many dollars to riskDetermining the correct number of options to buyCreating a scenario for covered call writing play Not a "how to trade" course
This presentation is a "what to do" playbook, as McMillan focuses on fresh methods and tactics you need to make every trading move a winner, including: Recognizing the classic "disaster pattern" in covered call writingHow the underlying "Delta" impacts your trading strategiesUnderstanding - and using - "what if" analysis
Contrarian thinking: How to avoid running with the crowdFinding -and profiting from - cheap options
With its comprehensive online companion this video is must viewing for any investor looking to move beyond the realm of options theory - into the world of option profits.
Financial risk management has become a popular practice amongst financial institutions to protect against the adverse effects of uncertainty caused by fluctuations in interest rates, exchange rates, commodity prices, and equity prices. New financial instruments and mathematical techniques are continuously developed and introduced in financial practice. These techniques are being used by an increasing number of firms, traders and financial risk managers across various industries. "Risk and Financial Management: Mathematical and Computational Methods" confronts the many issues and controversies, and explains the fundamental concepts that underpin financial risk management. Provides a comprehensive introduction to the core topics of risk and financial management. Adopts a pragmatic approach, focused on computational, rather than just theoretical, methods. Bridges the gap between theory and practice in financial risk management Includes coverage of utility theory, probability, options and derivatives, stochastic volatility and value at risk. Suitable for students of risk, mathematical finance, and financial risk management, and finance practitioners. Includes extensive reference lists, applications and suggestions for further reading.
"Risk and Financial Management: Mathematical and Computational Methods" is ideally suited to both students of mathematical finance with little background in economics and finance, and students of financial risk management, as well as finance practitioners requiring a clearer understanding of the mathematical and computational methods they use every day. It combines the required level of rigor, to support the theoretical developments, with a practicalflavour through many examples and applications.
"From the trader who introduced candlesticks to the West, a guide to understanding and getting the most out of those powerful analytical tools "
The popularity of Japanese candlesticks has exploded over the past two decades. So, too, have the ranks of self-styled experts hawking pricey books and seminars offering to unlock the secrets of candlesticks. But as many hapless consumers have discovered, many of those "experts" either possess a fundamentally flawed understanding of candlesticks, or are no better than snake oil salesmen. Is there an unimpeachable source traders can turn to with complete confidence for reliable information and guidance on this powerful analytical tool? Yes, Steve Nison, the man who introduced candlestick charting to the West and who has spent decades testing and perfecting candlestick charting techniques and trading strategies. In this book Steve shares everything he knows about candlesticks for beginners and seasoned traders alike.Provides crystal-clear and concise explanations of how candlesticks work and why they are so effective for finding trades with huge potentialCombines Nison's extensive research--including translations of ancient Japanese texts--with his decades of real-world experience to show how to apply candlesticks to today's marketsFeatures numerous examples and "quiz charts" that test your knowledge, along with online access to resources to help you hone your knowledge and mastery of these powerful tools Details strategies for combining candlesticks with other tools to spot big moves and find optimal entries and exits Offers expert advice on how to avoid costly candlesticks mistakes that even seasoned traders can make
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