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Quantitative Finance: Back to Basic Principles (Applied Quantitative Finance) by Adil Reghai : the book
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.
Simon A. Lack, "Bonds Are Not Forever: The Crisis Facing Fixed Income Investors" : the book
The Future of Global Currency: The Euro Versus the Dollar by Benjamin J. Cohen : the book
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.Uncontrolled Risk: Lessons of Lehman Brothers and How Systemic Risk Can Still Bring Down the World Financial System by Mark Williams : the book
“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 StreetJohn M. Longo, "Hedge Fund Alpha: A Framework for Generating and Understanding Investment Performance" : the book
The Economics of Casino Gambling by Douglas M. Walker : the book
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.Introduction to Derivative Financial Instruments: Bonds, Swaps, Options, and Hedging - Dimitris Chorafas : the book
Alexander Elder, "The New Trading for a Living: Psychology, Discipline, Trading Tools and System, Risk Control, Trade Management, 2nd edition" : the book
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