Forex Books - page 92

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Quantitative Finance: Back to Basic Principles (Applied Quantitative Finance) by Adil Reghai : the book

The series of recent financial crises has thrown open the world of quantitative finance and financial modeling. The era of stochastic calculus is over and the time of Ito derivation as a unique tool of modelling is at an end. Today, quants need a broad

modeling skill set – one that transcends mathematics to price and hedge financial products safely and effectively, but that also takes into account that we now live in a world of more frequent crises, fatter tail risk and the optimized search for alpha.

Quantitative Finance: Back to Basic Principles brings together new and proven methodologies from finance, physics and engineering, along with years of industry and academic experience to provide a cookbook of models for dealing with the challenges of today's markets. It begins by looking at approaches to vanilla and exotic options – including barrier, binary and American options. It then addresses the Black–Scholes conundrum – is it effective? The book then progresses to look at other pricing and valuation models commonly used in the industry, including terminal smile, stochastic volatility and more before confronting all the key challenges in model calibration and implementation.

The book also provides an original perspective on quantitative investment, providing recipes to help practitioners avoid the overfitting problem. It illustrates how risk neutral models can be effective tools for measuring the toxicity of investment strategies, and bridges the gap between stochastic calculus and statistics to illustrate an efficient framework for practical model development.

Written for quantitative practitioners in banks and asset managers, Quantitative Finance: Back to Basic Principles provides a toolkit and robust methodology which will enable practitioners to confront new and unforeseen pricing and valuation challenges. It offers new insights and methodologies for building models and enabling them to evolve over time, with a framework that adapts to different market regimes and different regulation.

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Simon A. Lack, "Bonds Are Not Forever: The Crisis Facing Fixed Income Investors" : the book

An up–close look at the fixed income market and what lies ahead Interweaving compelling, and often amusing, anecdotes from author Simon Lack′s distinguished thirty–year career as a professional investor with hard economic data, this engaging book skillfully reveals why Bonds Are Not Forever . Along the way, it provides investors with a coherent framework for understanding the future of the fixed income markets and, more importantly, answering the question, "Where should I invest tomorrow?" Bonds Are Not Forever chronicles the steady decline in interest rates from their peak in the 1980s and the concurrent drop in inflation during that period. Lack explains how those two factors spurred a dramatic growth in borrowing among both governments and individuals. Along the way, Lack describes how a financial industry meant to provide capital needed to drive productivity and economic growth became disconnected from Main Street and explores the grave economic, social, and political consequences of that disconnect. Provides practical solutions for avoiding the risk of falling bond markets and guaranteed negative real returns on savings Explains how the bursting of the real estate bubble in 2007–2008 led to massive borrowing by governments as they attempted to offset a sharp fall in economic activity Details how the trends of exploding debt and a financial sector that has grown much bigger than it needs to be have dramatically changed the game for savers Offering a uniquely intimate, yet analytically thorough look at the coming fixed income crisis, Bonds Are Not Forever is must reading for investment professionals, as well as retail investors and their advisors.

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The Future of Global Currency: The Euro Versus the Dollar by Benjamin J. Cohen : the book

Can the euro challenge the supremacy of the U.S. dollar as a global currency? From the time Europe’s joint money was born, many have predicted that it would soon achieve parity with the dollar or possibly even surpass it. In reality, however, the euro has remained firmly planted in the dollar’s shadow.

The essays collected in this volume explain why. Because of America’s external deficits and looming foreign debt, the dollar can never be as dominant as it once was. But Europe’s money is unable to mount an effective challenge.

The euro suffers from a number of critical structural deficiencies, including an anti-growth bias that is built into the institutions of the monetary union and an ambiguous governance structure that sows doubts among prospective users. As recent events have demonstrated, members of the euro zone remain vulnerable to financial crisis. Moreover, lacking a single voice, the bloc continues to punch below its weight in monetary diplomacy. The world seems headed toward a leaderless monetary order, with several currencies in contention but none clearly dominant.

This collection distils the views of one of the world’s leading scholars in global currency, and will be of considerable interest to students and scholars of international finance and international political economy.

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Uncontrolled Risk: Lessons of Lehman Brothers and How Systemic Risk Can Still Bring Down the World Financial System by Mark Williams : the book

How Excessive Risk Destroyed Lehman and Nearly Brought Down the Financial Industry

“Uncontrolled Risk will ruffle feathers—and for good reason—as voters and legislators learn the diffi cult lessons of Lehman’s collapse and demand that we never forget them.”

Dr. David C. Shimko, Board of Trustees, Global Association of Risk Professionals

“Uncontrolled Risk is a drama as gripping as any work of fiction. Williams’s recommendations for changes in the governance of financial institutions should be of interest to anyone concerned about the welfare of global financial markets.”

Geoffrey Miller, Stuyvesant Comfort Professor of Law and Director, Center for the Study of Central Banks and Financial Institutions, New York University

“The complex balance of free enterprise on Wall Street and the healthy regulation of its participants is the central economic issue of today. Williams’s forensic study of Lehman’s collapse may be the best perspective so far on the issues that now face regulators.”

Jeffrey P. Davis, CFA, Chief Investment Officer, Lee Munder Capital Group

“Provides a very perceptive analysis of the fl aws inherent in risk management systems and modern fi nancial markets. Mandatory reading for risk managers and financial industry executives.”

Vincent Kaminski, Professor in the Practice of Management, Jesse H. Jones Graduate School of Business, Rice University

“Gives the reader much food for thought on the regulation of our financial system and its interplay with corporate governance reform in the United States and around the world.”

Professor Charles M. Elson, Edgar S. Woolard Jr. Chair in Corporate Governance, University of Delaware

The risk taking behind Wall Street's largest bankruptcy . . .

In this dramatic and compelling account of Lehman Brothers’ spectacular rise and fall, author Mark T. Williams explains how uncontrolled risk toppled a 158-year-old institution—and what it says about Wall Street, Washington, D.C., and the world financial system. A former trading floor executive and Fed bank examiner, Williams sees Lehman’s 2008 collapse as a microcosm of the industry—a worst-case scenario of smart decisions, stupid mistakes, ignored warnings, and important lessons in money, power, and policy that affect us all. This book reveals:

-The Congressional inquisition of disgraced CEO Dick Fuld: Did he really deserve it?

-How the investment-banking money machine broke down: Can it be fixed?

-The key drivers that caused the financial meltdown: Can lessons be learned from them?

-The wild risk taking denounced by President Obama: Is Washington to blame, too?

-The ongoing debate on reform and regulation: Can meaningful reform avert another financial catastrophe?

This fascinating account traces Lehman’s history from its humble beginnings in 1850 to its collapse in 2008. Lehman’s story exemplifies the everchanging trends in finance—from investment vehicles to federal policies—and exposes the danger and infectious nature of uncontrolled risk.

Drawing upon first-person interviews with risk management experts and former Lehman employees, Williams provides more than just a frontline report: it’s a call to action for Wall Street bankers, Washington policymakers, and U.S. citizens—a living lesson in risk management on which to build a stronger fi nancial future. Williams provides a tenpoint plan to implement today—so another Lehman doesn’t collapse tomorrow.

Includes a ten-point plan to ensure a strong financial future for both Wall Street and Main Street

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John M. Longo, "Hedge Fund Alpha: A Framework for Generating and Understanding Investment Performance" : the book

Hedge funds are perhaps the hottest topic in finance today, but little material of substance to date has been written on the topic. Most books focus on how to set up a hedge fund and the basic strategies, while few to none focus on what matters most: generating and understanding investment performance. This book takes an exclusive look at the latter, including an analysis of the areas that are most likely to generate strong investment returns -- namely, the emerging markets of Brazil, Russia, India and China. The book will be invaluable to not only financial professionals, but anyone interested in learning about hedge funds and their future. Contents: Generating Performance: Introduction; Hedge Fund Research vs. Traditional Research; Achieving Hedge Fund Alpha in Brazil; Achieving Hedge Fund Alpha in Russia; Achieving Hedge Fund Alpha in India; Achieving Hedge Fund Alpha in China; Using Derivatives to Create Alpha; Best Execution of Hedge Fund Strategies; Growth of the Hedge Fund Management Company: Evolving from a Single Strategy Hedge Fund to a Multistrategy Hedge Fund or Multiple Funds; Fund of Hedge Funds; Understanding Performance: The Psychology of Hedge Fund Managers; Risk Management for Hedge Funds; Hedge Fund Due Diligence; From Birth to Death: The Lifecycle of a Hedge Fund Investment Strategy; The Future of Hedge Funds: Seven Emerging Trends (M D Eichen & J M Longo); Appendices: Internet Sites for Hedge Fund Managers; Reading List for Hedge Fund Managers; Sample Manager Background Report.

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The Economics of Casino Gambling by Douglas M. Walker : the book

Casino gambling has spread throughout the world, and continues to spread. As governments try to cope with fiscal pressures, legalized casinos offer a possible source of additional tax revenue. But casino gambling is often controversial, as some people have moral objections to gambling. In addition, a small percentage of the population may become pathological gamblers who may create significant social costs. The Economics of Casino Gambling is a comprehensive discussion of the social and economic costs and benefits of legalized gambling. It is the first comprehensive discussion of these issues available on the market.

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Mastering the Trade, Second Edition: Proven Techniques for Profiting from Intraday and Swing Trading Setups by John F. Carter : https://www.nitroflare.com/view/6BA87AF1BE65103/0071775145.epub

When it was first published in 2005, Mastering the Trade became an instant classic in the world of day trading. Now, veteran day trader and educator John F. Carter has updated his time-proven swing trading technique to help you succeed in an environment vastly transformed by volatility and technology.

Universally acclaimed for its sophisticated yet easy-to-execute methods, this practical, results-driven guide provides everything you need to make a lucrative career as a day trader—from preparing yourself psychologically for the unique demands of day trading to timing the market, managing risk, and planning future trades.

Mastering the Trade sets aside timeworn basics and rehashed ideas to examine in detail the underlying factors that cause prices to move. Providing the tools you need to make the right decisions at the right times, it helps you enter market shifts early and either pull out before losses accrue or hang on for a long and refreshingly predictable ride. Mastering the Trade covers:

The five psychological truths that will transform you from a mistake-prone novice into a savvy trading professional

Exact entry, exit, and stop-loss levels for the intraday trading of stocks, options, ETFs, e-mini futures, 30-year bonds, currencies, and more

Seven key internals, from $TICKS to five-minute volume—critical for gauging pending market direction from the opening bell

Premarket checklists for analyzing recent market behavior and calculating on each trading day what you plan to do, how you plan to do it, and why

Airtight risk control techniques for protecting trading capital—the most important component of a professional trading career

After spending many years on various trading desks, Carter has developed an intuitive understanding of how the markets work. In Mastering the Trade, he gives you unlimited access to everything the markets have taught him—so you can make an exceptional living on the frontlines of professional trading.

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Introduction to Derivative Financial Instruments: Bonds, Swaps, Options, and Hedging - Dimitris Chorafas : the book

Written by a renowned corporate financial advisor, this timely guide offers a comprehensive treatment of derivative financial instruments, fully covering bonds, interest swaps, options, futures, Forex, and more. The author explains the strategic use of derivatives, their place in portfolio management, hedging, and the importance of managing risk.

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Alexander Elder, "The New Trading for a Living: Psychology, Discipline, Trading Tools and System, Risk Control, Trade Management, 2nd edition" : the book

The best–selling trading book of all time — updated for the new era The New Trading for a Living updates a modern classic, popular worldwide among both private and institutional traders. This revised and expanded edition brings time–tested concepts in gear with today′s fast–moving markets, adding new studies and techniques for the modern trader. This classic guide teaches a calm and disciplined approach to the markets. It emphasizes risk management along with self–management and provides clear rules for both. The New Trading for a Living incudes templates for rating stock picks, creating trade plans, and rating your own readiness to trade. It provides the knowledge, perspective, and tools for developing your own effective trading system. All charts in this book are new and in full color, with clear comments on rules and techniques. The clarity of this book′s language, its practical illustrations and generous sharing of the essential skills have made it a model for the industry—often imitated but never duplicated. Both new and experienced traders will appreciate its insights and the calm, systematic approach to modern markets. The New Trading for a Living will become an even more valuable resource than the author′s previous books: Overcome barriers to success and develop stronger discipline Identify asymmetrical market zones, where rewards are higher and risks lower Master money management as you set entries, targets and stops Use a record–keeping system that will make you into your own teacher Successful trading is based on knowledge, focus, and discipline. The New Trading for a Living will lift your trading to a higher level by sharing classic wisdom along with modern market tools.

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Todd A. Harrison, "The Other Side of Wall Street: In Business It Pays to Be an Animal, In Life It Pays to Be Yourself" : the book

In The Other Side of Wall Street, Minyanville.com founder and former hedge fund honcho Todd Harrison shares never-before-told stories from the hidden side of Wall Street, including the adrenaline rush of trading at the highest levels, Wall Street’s super-indulgent lifestyles; Harrison’s time in the trenches fighting with (and then against) Jim Cramer; why he left investing completely, and how he returned to earn his redemption. Thousands of readers have tasted Harrison’s story in a recent Dow Jones MarketWatch serialization: now for the first time, he shares his entire extraordinary personal memoir. You’ll walk alongside Harrison through the "golden door" that took him into Morgan Stanley in its 1990s heyday. Share his ringside view of the explosive growth of derivatives, and the disasters that followed. Ride the emotional roller coaster of colossal wins and losses and discover what it’s really like to work with Jim Cramer. Then travel with Harrison through the 2000s, the most tumultuous decade in investing history. Harrison’s seen it all, done it all, and earned perspective and insight available to only a few. If you want to know what it’s really like at Wall Street’s pinnacle–and in its deepest depths–one book will tell you: The Other Side of Wall Street.