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In just a few years, futures trading has grown from a specialized area to a major sector that is attracting pension funds, hedge funds, and other capital pools. Technological advances have led to increased globalization and around-the-clock trading, which has generated huge volumes that can be traded at minimal cost. . .
"In Timing Techniques for Commodity Futures Markets," expert stocks and futures advisor Colin Alexander explains how to make money in all market conditions. He shows you how to set up monthly and weekly charts with indicators that determine which markets may be worth trading. Then he shows daily and intraday charts tell you when to pull the trigger and get into a trade and stay until market action generates an exit signal. . .
With Alexander's proven approach to evaluating markets, you'll learn how to avoid high-risk and marginal trades without sacrificing the high-potential ones. And, you'll see how informed applications of today's most effective indicators-including MACD, moving averages, stochastics, and Bollinger Bands-can help identify markets with the potential for extended moves. . .
Through a focused examination of how money determines markets, Timing Techniques for Commodity Future Markets shows you how to: . Define a trend. Interpret who trades what and how much. Set stops and get out of trades. Fine-tune short-term trading. .
Along with expert advice on such fundamental practices as building charts and reading candlestick charts, "Timing Techniques for Commodity Futures Markets" provides an insider's edge with rare information on the best chart patterns for all time frames, cyclical and seasonal forces and price rules for knowing when to pullthe trigger on a trade. To illustrate real-time use, the Alexander includes two revealing case studies--one based on a prospective long position on gasoline and one based on a short position in copper.
The futures and options bible from the world's first, and America's largest, futures exchange
Through nine editions over three decades, the Chicago Board of Trade (CBOT) has provided futures and options traders with the self-published Commodity Trading Manual. Now the CBOT has entered into an exclusive agreement with McGraw-Hill to bring you this vital book. "The Chicago Board of Trade Handbook of Futures and Options" delivers valuable information on everything from the uses and purposes of the futures market to nuts-and-bolts descriptions of day-to-day exchange operations.
This text provides a comprehensive introduction to the practice of Islamic banking and finance, an increasingly important area in the field of Finance. The authors cover current issues and concepts pertinent to Islamic finance, from the Islamic worldview and economics, to Shariah compliance, Islamic contracts and insurance.
The breakthrough technique that outperforms asset allocation--and takes your portfolio to the next level. .
Over the past two decades, asset allocation has become the holy grail of investment techniques. Experts championed it, brokers and financial planners sold it, clients bought it, and few questioned the wisdom of trying to squeeze widely varying investors and their financial goals into prefabricated "one size fits all" allocation formulas..
Problem is, asset allocation has significant flaws in the way it is used today, especially for personal investors. "Asset Dedication" exposes these flaws, corrects them, and propels investors and advisors into the next generation of personal investing. This revolutionary book introduces asset dedication, an investment program based on the latest techniques in modern financial management technology that will allow you to: . . Improve a portfolio's performance by constructing a seven-step, personalized asset dedication program . Design financial strategies tailored to fit the three investing phases of life--accumulation, distribution, and transfer . Build a flexible but passive set-it-and-forget-it portfolio that matches or exceeds actively managed portfolios without high fees and "loads" . .
The time is long past for the shortcomings of asset allocation to be revealed and repaired. "Asset Dedication "shows how to build a personalized portfolio, one that has been proven through extensive backtesting to consistently outperform asset allocation and meet "your" financial wants and needs over both the short- and long-term.. .
""New ideas often take a long time to replace old ideas. The purpose of this book is to introduce a new idea: asset dedication. It is a strategy that works. The evidence is here."--From Chapter 1,"
To anyone who has taken the time to look, it has become clear that asset allocation has severe drawbacks. Chief among those is the focus on applying static, set-in-stone formulas to a narrow range of "model" portfolios and forcing a wide range of investors to follow them. This may help brokers to quickly pigeonhole investors into pre-set allocation models with their generic, impersonal formulas, but fails to provide truly customized portfolios. Meeting the widely varying needs, resources, and goals of individual investors precisely and safely is exactly where asset allocation falls short, and reveals its own fundamental flaws. .
"Asset Dedication "breaks the monopoly that asset allocation has held over individual investors. It provides a rationale for why each dollar is invested in stocks, bonds, or cash and how to dedicate the precise amount in each asset class to do the job it does best--no more, no less: . . Just enough cash to meet emergency needs . Just enough in bonds to provide sufficient and steady income . Everything else in stocks for long-term growth . .
Asset dedication represents the first major shift in investment strategy since the popularization of asset allocation in the 1980s. Historical comparisons show that it achieves better performance than the traditional and often arbitrary fixed-formula asset allocation approach. .
Asset allocation is about to replaced by a new technique that promises to shift the ways in which investors at every level, especially retirees, approach their investment decisions. "Asset Dedication "introduces you to this focused new approach, showshow to break the stranglehold that asset allocation holds on your portfolio, and helps you, once and for all, to become the master of your current and future financial success..
Get smart about your money and retire in five years "or sooner"!.
Most people are only a few thousand dollars a month away from financial freedom. Financial freedom is not about millions of dollars in the bank--it's simply about generating investment income that exceeds your cost of living. Once you're there, you're financially free!.
"Safe Strategies for Financial Freedom "shows you how to get there, from how to invest wisely and protect what you earn to proven techniques for developing sources of regular income to cover your expenses and achieve financial independence. Inside, you'll discover: . . . The fastest and easiest way to get out of debt without pinching pennies. Simple models that tell you how and whe"n" to invest in stocks, bonds, gold, and real estate. Van Tharp's legendary risk-control techniques--How the world's most profitable investors reduce their risk and leave their wealth-generating potential unlimited. . .
People achieve financial freedom every day--now it's your turn. "Safe Strategies for Financial Freedom "shares the secrets of how you can achieve financial freedom by determining your "financial freedom number," making the right investment moves, and accepting nothing less than absolute success. From its risk-controlling investment strategies to its "Why didn't I think of that?" money-management techniques, you'll learn a financial program designed to make you the master of your money, instead of its slave. . . .
"Financial freedom is within your grasp. In this book, you will learn a simple strategy that will free you forever. Once you start, you'll watch yourself moving closer and closer to financial freedom every month.,"
--From the Preface.
Wealthy folks don't achieve financial freedom by working" for" money. Instead, they have learned the simple rules for making money work for" them"!" Safe Strategies for Financial Freedom "provides the details of innovative yet achievable investment strategies that you can use to build and protect assets your assets in all investment climates. You can then use those assets as sources of regular income that will cover your monthly expenses and provide you with a lifetime of true financial freedom..
Written by world-renowned financial advisors Van K. Tharp, D.R. Barton, and Steve Sjuggerud, who have used these techniques to free themselves and thousands of others from jobs that barely cover expenses, this book describes: . . . Your Personal Financial Freedom Number--How to build passive monthly income that frees you from the workplace . Specific strategies for transforming your assets from money pits to money producers . Stock market strategies that produce profits in all market environments, even major bear markets. . The Max Yield Strategy--A once-a-year system for safe, double-digit profits . Three proven real estate strategies for generating instant equity, long-term income, or both. .
Is your current plan is to spend your life working 50 or more hours a week and then saving your nickels until you retire to a modest, fixed income? You're not alone. But it might surprise you to discover just how many people are now actively taking the steps to achieve financial freedom that are contained in this book..
"Safe Strategies for Financial Freedom" provides you with a safe, specific program for freeing yourself from the workplace forever. It shows you how to seize control of yourfinancial life by investing in those assets that will provide you with steady income until the day when your investment income has surpassed your monthly expenses--and you are, once and for all, financially free. . . . . .
Harnessing the Power of Quantitative Techniques to Create a Winning Trading ProgramLars Kestner Quantitative Trading Strategies takes readers through the development and evaluation stages of todays most popular and market-proven technical trading strategies. Quantifying every subjective decision in the trading process, this analytical book evaluates the work of well-known quants from John Henry to Monroe Trout and introduces 12 all-new trading strategies. It debunks numerous popular misconceptions, and is certain to make waves--and change minds--in the world of technical analysis and trading.
Used extensively by professionals, organizations, and universities, Analysis of Investments and Management of Portfolios combines solid theory with practical application. This edition of the established and well-respected text has been developed and tailored especially for courses across the UK, Europe, the Middle East and Africa. Filled with real-world illustrations and hands-on applications, this text takes a rigorous, empirical approach to teaching topics such as investment instruments, capital markets, behavioural finance, hedge funds, and international investment. It also emphasizes how investment practice and theory are influenced by globalization.
Getting agreement between finance theory and finance practice is important like never before. In the last decade the derivatives business has grown to a staggering size, such that the outstanding notional of all contracts is now many multiples of the underlying world economy. No longer are derivatives for helping people control and manage their financial risks from other business and industries, no, it seems that the people are toiling away in the fields to keep the derivatives market afloat (Apologies for the mixed metaphor ) If you work in derivatives, risk, development, trading, etc. you'd better know what you are doing, there's now a big responsibility on your shoulders.
In this second edition of "Frequently Asked Questions in Quantitative Finance" I continue in my mission to pull quant finance up from the dumbed-down depths, and to drag it back down to earth from the super-sophisticated stratosphere. Readers of my work and blogs will know that I think both extremes are dangerous. Quant finance should inhabit the middle ground, the mathematics sweet spot, where the models are robust and understandable, and easy to mend.
...And that's what this book is about.
This book contains important FAQs and answers that cover both theory and practice. There are sections on how to derive Black-Scholes (a dozen different ways ), the popular models, equations, formulae and probability distributions, critical essays, brainteasers, and the commonest quant mistakes. The quant mistakes section alone is worth trillions of dollars
I hope you enjoy this book, and that it shows you how interesting this important subject can be. And I hope you'll join me and others in this industry on the discussion forum on wilmott.com. See you there "
"FAQQF2."..including key models, important formulae, popular contracts, essays and opinions, a history of quantitative finance, sundry lists, the commonest mistakes in quant finance, brainteasers, plenty of straight-talking, the Modellers' Manifesto and lots more.
Build your strongest-ever portfolio from anywhere in the world Millionaire Expat is a handbook for smart investing, saving for retirement, and building wealth while overseas. As a follow-up to The Global Expatriate's Guide to Investing, this book provides savvy investment advice for everyone no matter where you're from to help you achieve your financial goals. Whether you're looking for safety, strong growth, or a mix of both, index funds are the answer. Low-risk and reliable, these are the investments you won't hear about from most advisors. Most advisors would rather earn whopping commissions than follow sound financial principles, but Warren Buffett and Nobel Prize winners agree that index funds are the best way to achieve market success so who are you ready to trust with your financial future? If you want a better advisor, this book will show you how to find one; if you'd rather go it alone, this book gives you index fund strategies to help you invest in the best products for you. * Learn how to invest for both safety and strong returns * Discover just how much retirement will actually cost, and how much you should be saving every month * Find out where to find a trustworthy advisor or go it alone * Take advantage of your offshore status to invest successfully and profitably Author Andrew Hallam was a high school teacher who built a million-dollar portfolio on a teacher's salary. He knows how everyday people can achieve success in the market. In Millionaire Expat, he tailors his best advice to the unique needs of those living overseas to give you the targeted, real-world guidance you need.
A new, evolutionary explanation of markets and investor behavior Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe. The debate is one of the biggest in economics, and the value or futility of investment management and financial regulation hangs on the answer. In this groundbreaking book, Andrew Lo transforms the debate with a powerful new framework in which rationality and irrationality coexist-the Adaptive Markets Hypothesis. Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency is incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo's new paradigm explains how financial evolution shapes behavior and markets at the speed of thought-a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation. An ambitious new answer to fundamental questions about economics and investing, Adaptive Markets is essential reading for anyone who wants to understand how markets really work.
New ideas, strategies and resources to help you prosper in both up and down markets This new edition of Stock Investing for Dummies gives you proven strategies for selecting the stock of solid, winning companies and help you build your portfolio for either growth, cashflow (dividends) or both. Long-term stock investing has been a reliable and foundational part of most wealth-building plans for over a century and you can benefit from profitable, actionable tactics, tips and successful strategies in this edition. You will be able to navigate confidently through the post-pandemic period and through the market's rollercoaster ride and end up more prosperous than most stock investors. You'll also learn which types of stocks are best in a recession or stagnant economy. With the help of this guide, you'll quickly learn how to profit despite the turbulence and uncertainty with plain-English tips and information on both stocks and ETFs, new tax rules, exchanges, and investment vehicles, as well as the latest guidance on the global market landscape. Find out... The best approaches for investing in stocks (chapter 3) How to successfully invest in stocks with less than $100 (chapter 19) How to make your stock portfolio a "cash flow machine" for retirement (chapter 9) Learn how to minimize losses and maximize gains (chapter 17) The 10 features of a great stock to buy for long-term success (chapter 22) 10 ways to successful invest when the market is down (chapter 23) See the "right numbers" inside the company for safer stock choices (chapter 11) Need more income? Find out how to choose solid dividend-paying stocks (chapter 9) Explore new investment opportunities (chapter 13) Don't just make gains & income...learn how to keep more after taxes (chapter 21) Stock Investing for Dummies is an essential guide for anyone looking for trusted, comprehensive guidance to ensure their stock investments keep growing.
Leverage Python for expert-level volatility and variance derivative trading Listed Volatility and Variance Derivatives is a comprehensive treatment of all aspects of these increasingly popular derivatives products, and has the distinction of being both the first to cover European volatility and variance products provided by Eurex and the first to offer Python code for implementing comprehensive quantitative analyses of these financial products. For those who want to get started right away, the book is accompanied by a dedicated Web page and a Github repository that includes all the code from the book for easy replication and use, as well as a hosted version of all the code for immediate execution. Python is fast making inroads into financial modelling and derivatives analytics, and recent developments allow Python to be as fast as pure C++ or C while consisting generally of only 10% of the code lines associated with the compiled languages. This complete guide offers rare insight into the use of Python to undertake complex quantitative analyses of listed volatility and variance derivatives. * Learn how to use Python for data and financial analysis, and reproduce stylised facts on volatility and variance markets * Gain an understanding of the fundamental techniques of modelling volatility and variance and the model-free replication of variance * Familiarise yourself with micro structure elements of the markets for listed volatility and variance derivatives * Reproduce all results and graphics with IPython/Jupyter Notebooks and Python codes that accompany the book Listed Volatility and Variance Derivatives is the complete guide to Python-based quantitative analysis of these Eurex derivatives products.
Charlie Munger, Berkshire Hathaway's visionary vice chairman and Warren Buffett's indispensable financial partner, has outperformed market indexes again and again, and he believes any investor can do the same. His notion of "elementary, worldly wisdom"-a set of interdisciplinary mental models involving economics, business, psychology, ethics, and management-allows him to keep his emotions out of his investments and avoid the common pitfalls of bad judgment. Munger's system has steered his investments for forty years and has guided generations of successful investors. This book presents the essential steps of Munger's investing strategy, condensed here for the first time from interviews, speeches, writings, and shareholder letters, and paired with commentary from fund managers, value investors, and business-case historians. Derived from Ben Graham's value-investing system, Munger's approach is straightforward enough that ordinary investors can apply it to their portfolios. This book is not simply about investing. It is about cultivating mental models for your whole life, but especially for your investments.
Critical Praise for Common Stocks and Uncommon Profits and Other Writings
"You will find lots of jewels in these pages that may do as much for you as they have for me."
"I sought out Phil Fisher after reading his Common Stocks and Uncommon Profits and Other Writings. When I met him, I was as impressed by the man as by his ideas. A thorough understanding of the business, obtained by using Phil’s techniques . . . enables one to make intelligent investment commitments."
"Little known to the public, rarely interviewed, and accepting few clients, Philip Fisher is nevertheless read and studied by most thoughtful investment professionals . . . everyone will profit from pondering–as Warren Buffett has done–the investment principles Fisher espouses."
"My own copy [of Common Stocks and Uncommon Profits and Other Writings] has underlinings and marginal thoughts throughout."
Updated features include a new Preface and Introduction from Kenneth L. Fisher
Widely respected and admired, Philip Fisher is among the most influential investors of all time. His investment philosophies, introduced almost forty years ago, are not only studied and applied by today’s finance professionals, but are also regarded by many as gospel. Common Stocks and Uncommon Profits and Other Writings reveals these timeless philosophies.
The widespread availability of high-quality, high-frequency data has revolutionised the study of financial markets. By describing not only asset prices, but also market participants' actions and interactions, this wealth of information offers a new window into the inner workings of the financial ecosystem. In this original text, the authors discuss empirical facts of financial markets and introduce a wide range of models, from the micro-scale mechanics of individual order arrivals to the emergent, macro-scale issues of market stability. Throughout this journey, data is king. All discussions are firmly rooted in the empirical behaviour of real stocks, and all models are calibrated and evaluated using recent data from Nasdaq. By confronting theory with empirical facts, this book for practitioners, researchers and advanced students provides a fresh, new, and often surprising perspective on topics as diverse as optimal trading, price impact, the fragile nature of liquidity, and even the reasons why people trade at all.
You've probably thought about where you will live in retirement and how you plan to spend your time. But do you know how much income you will need to pay for the type of retirement you want? With Social Security's uncertain future, as well as the increasing cost of healthcare, you need to formulate a retirement strategy with an income stream-available from annuities-that you can't outlive. In The Income Revolution, you will learn what questions to ask and what planning you should do, whether you are years away from retirement or expecting to retire in the near future. This book will help you: * Understand why pensions are disappearing and what you can do if you don't have one * Reallocate your portfolio to reduce your risk from market volatility * Figure out whether you can afford the retirement lifestyle you have chosen * Work with insurance agents and financial planners to find out how much monthly income you need * Learn the differences between fixed and variable annuities * Figure out what type of annuity to consider
The only comprehensive guide to reaping big returns investing in the hottest new growth markets This book makes a compelling case that, just as today's well-rounded portfolio includes emerging market funds, tomorrow's well-rounded portfolio will include frontier market funds. More importantly, it alerts you to the vast opportunities and potential pitfalls of investing in frontier markets while providing expert advice and guidance on how to research and invest in the most promising frontier growth markets. Widely considered to be the next emerging markets, frontier markets, such as those of certain sub-Saharan African, Eastern European, Asian, and Central and South American countries, are showing strong signs of reaching economic critical mass. If you are an investor on the lookout for authoritative, actionable information on the next big investment opportunity, this book is for you. * Provides sector-by-sector analyses that let you assess opportunities and risks in each frontier market * Provides strategies and tools for determining the most efficient methods for executing, monitoring, and exiting investments * Guides you through the wide diversity within frontier markets, showing how to differentiate countries on the basis of economic development and wealth distribution and other factors
SHORTLISTED FOR THE FT AND MCKINSEY BUSINESS BOOK OF THE YEAR AWARD 2019 NEW YORK TIMES AND SUNDAY TIMES BUSINESS BESTSELLER 'Reads more like a delicious page-turning novel...Put it on your holiday gift list for your favourite hedge-fund honcho' Bloomberg 'A compelling read' Economist 'Captivating' New York Times book review Jim Simons is the greatest moneymaker in modern financial history. His record bests those of legendary investors, including Warren Buffett, George Soros and Ray Dalio. Yet Simons and his strategies are shrouded in mystery. The financial industry has long craved a look inside Simons's secretive hedge fund, Renaissance Technologies and veteran Wall Street Journal reporter Gregory Zuckerman delivers the goods. After a legendary career as a mathematician and a stint breaking Soviet codes, Simons set out to conquer financial markets with a radical approach. Simons hired physicists, mathematicians and computer scientists - most of whom knew little about finance - to amass piles of data and build algorithms hunting for the deeply hidden patterns in global markets. Experts scoffed, but Simons and his colleagues became some of the richest in the world, their strategy of creating mathematical models and crunching data embraced by almost every industry today. As Renaissance became a major player in the financial world, its executives began exerting influence on other areas. Simons became a major force in scientific research, education and Democratic politics, funding Hilary Clinton's presidential campaign. While senior executive Robert Mercer is more responsible than anyone else for the Trump presidency - he placed Steve Bannon in the campaign, funded Trump's victorious 2016 effort and backed alt-right publication Breitbart. Mercer also impacted the success of the Brexit campaign as he made significant investments in Cambridge Anatlytica. For all his prescience, Simons failed to anticipate how Mercer's activity would impact his firm and the world. In this fast-paced narrative, Zuckerman examines how Simons launched a quantitative revolution on Wall Street, and reveals the impact that Simons, the quiet billionaire king of the quants, has had on worlds well beyond finance.
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