Over the past decade, credit derivatives have emerged as the key financial innovation in global capital markets. At end 2004, the market size hit $6.4 billion (in notional amounts) from virtually nothing in 1995. This rise has been spurred by the imperative for banks to better manage their risks, not least credit risks, and the appetite shown by institutional investors and hedge funds for innovative, high yielding structured investment products. As a result, growth in collateralized debt obligations and other second–generation products, such as credit indices, is currently phenomenal. It is enabled by the standardization and increased liquidity in credit default swaps – the building block of the credit derivatives market. Written by market practitioners and specialists, this book covers the fundamentals of the credit derivatives and structured credit market, including in–depth product de*ions, analysis of real transactions, market overview, pricing models, banks business models. It is recommended r

"How I Trade Options gives retail investors who have little or no prior knowledge the insight into how options work and how to use them effectively and responsibly.For those who want to learn about options,this is a rare opportunity to learn from a master trader.Najarian shows commitment to educating investors on the use of options to enhance their portfolios." –Rance Masheck,President,Quantum Vision Inc. "Not only is Jon Najarian a Supertrader,he is a Superteacher.I owe much of my good fortune to Jon Najarian.I learned more from him than I had learned in an entire decade–plus it was fun! Jon’s abilities to make his profitable trading strategies understandable are sure to make How I Trade Options a must-have tool that every option trader will want to own." –Don Fishback,Developer of the Fishback Option Pricing Model "Jon Najarian is a world-class options trader and a world class options educator.His crystal clear explanations of such strategies as vertical spreads empower the average investor

Based on cutting-edge research by leading corporate critic Louis Lowenstein, The Investor’s Dilemma: How Mutual Funds Are Betraying Your Trust and What to Do About It reveals how highly overpaid fund sponsors really operate and walks you through the conflicts of interest found throughout the industry. Page by page, you’ll discover the real problems within the world of mutual funds and learn how to overcome them through a value-oriented approach to this market.

An energy industry researcher and investment advisor providesa fresh perspective on the economics of energy From major players in the energy industry, such as big oil, to theemerging cap-and-trade market, no other book offers a more completeoverview of the energy industry, specifically its economic andfinancial intricacies, than Investing in Energy: A Primer on theEconomics of the Energy Industry. Details how to value and investin the four big energy sectors: oil, gas, power, and greenDescribes key financial considerations for the energy sectors,including credit metrics, the importance of liquidity, cash flow,and capital expenditures From Bloomberg, a leading provider of themost up-to-date business news and financial data A comprehensive guide to the economics of the energy industry,Investing in Energy will prove an invaluable resource fortraditional energy investors looking to expand into new areas, aswell as for eco-investors looking to better understand how energymarkets function.

"This book deserves a place on every serious investor’sshelf." –FINANCIAL TIMES "A must-read for all disciples of value investing. In 1934,Graham and Dodd created fundamental security analysis. Greenwaldreinforces the worth of this approach, incorporates new advances,and takes their work into the twenty-first century." –Mario J. Gabelli, Chairman, Gabelli Asset Management, Inc. "The new title most deserving of your time is Value Investing . .. . Its authors aim to place their work next to Benjamin Graham’s1950 classic, The Intelligent Investor. My 1986 edition came withWarren Buffett’s endorsement–‘by far the best book on investingever written.’ Value Investing is better." –Robert Barker, BusinessWeek "Greenwald is an economist (PhD from MIT) who caught the valuebug. He has updated and expanded Graham’s ideas, and his summerseminars ($2,900 for two days) have become popular with everyonefrom well-known money managers to Columbia MBAs who couldn’

Structured Credit Products are one of today's fastest growing investment and risk management mechanisms, and a focus of innovation and creativity in the capital markets. The building blocks of these products are credit derivatives, which are among the most widely used products in finance. This book offers a succinct and focused de*ion of the main credit derivative instruments, as well as the more complex products such as synthetic collateralised debt obligations. The book features: Detailed product de*ions and analysis Case studies on US, European and Asian transactions Latest developments in synthetic structures. Written in an accessible style by an acclaimed author in the field of finance, this book is aimed at the entire banking, securitisation and fund management market.

Now, in Quantitative Investment Analysis Workbook, SecondEdition, they offer you a wealth of practical information andexercises that will further enhance your understanding of thisdiscipline. This essential study guide––which parallels the mainbook chapter by chapter––contains challenging problems and acomplete set of solutions as well as concise learning outcomestatements and summary overviews.

Gathering fourteen lectures by the pioneers of securitization and by current practitioners--from Freddie Mac, Paine Webber, JP Morgan, Chrysler, McKinsey & Co., and other major players--A Primer on Securitization introduces readers to America's newest system of raising capital: what it is, how it operates, and what difference securitization makes. The securitization process bypasses financial intermediaries that have historically collected deposits and loaned them to those seeking funds, and links borrowers directly to money and capital markets. Authoritative and practical, these lectures show how securitization was developed to fill a gap in financial markets. They discuss the nature and causes of the market imperfections that made securitization a valuable source of funds, and describe how securitization has linked local mortgage markets with international capital markets. Readers will gain a broad perspective of the different parties--the borrower, the loan originator, the servicer, the rating agency

The bestselling author of Investment Biker is back from the ultimate road trip: a three-year drive around the world that would ultimately set the Guinness record for the longest continuous car journey. Behind the wheel of a yellow, custom-built Mercedes, Rogers and his fianc6e, began their“Millennium Adventure”on January 1, 1999, from Iceland. They traveled through 116 countries, including many where most have rarely ventured, such as Saudi Arabia, Myanmar, Angola,Sudan, Congo, Colombia, and East Timor. They drove through war zones, deserts, jungles, epidemics, and blizzards, and had many narrow escapes, but they saw the real world from the ground up-the only vantage point from which it can be truly understood- economically,politically, and socially. 作者简介： Born in 1942，JIM ROGERS had his first iob at age five，picking up bottles at baseball games.Winning a scholarship to Yale，Rogers was coxswain on the crew.Upon graduation，he attended Balliol College at Oxfor

In Investing from the Top Down, Anthony Crescenzi, esteemed financial author and chief bond strategist for Miller Tabak & Co., explains how to develop new, highly effective investment strategies by taking a macro view of the factors shaping industries and markets. Emphasizing the importance of economic and market cycles (as opposed to a bottom-up approach, which places valuation ahead of the big picture) top-down investing is better suited for today's global economy and will likely become the dominant strategy in the future.

"It is a fundamentally good time to consider the strategies in this book.Macro-market timing,stock-specific approaches,money management revelations,and intermarket analysis.Even better that it is written by someone who has actually done it himself." "This book delivers a knock-out punch to investor pessimism,with an uppercut of bullishness and hard facts." "The stock market is a major stream of income and Williams clearly shows the best time and stocks to buy." "No other book on the horizon comes close to this one.Larry lets you stand on his shoulders and view the market from the vantage of a master." 作者简介： LARRY WILLIAMS is a hedge fund manager and—based on books in print—perhaps the most widely read futures author of all time.He is the unsurpassed winner of the Robbins World Cup Championship of Futures Trading,taking $10,000 to $1,100,000in less than twelve months.He has served on the Board of the National Futures Association and ran twice for the U.S.Senate in Mo

Mergers and acquisitions (M&A) experts Tim Galpin and Mark Herndon present an updated and expanded guide to planning and managing the M&A process. This comprehensive book is unique in providing the tools to address both the human and operational sides of integration. Based on the authors' consulting experience with numerous Fortune 500 companies, this resource will help organizations capture deal synergies more quickly and effectively. Augmenting their step-by-step advice with helpful templates, checklists, graphs and tools, Galpin and Herndon provide sound guidance for successfully integrating different processes, organizations, and cultures. The authors also address pre-deal do’s and don’ts, people dynamics, common mistakes, communications strategies, and specific actions you can take to create measurable positive results throughout the integration process. The revised edition not only updates case studies and presents recent integration research, but it also adds new tools.

At the crossroads of corporate strategy and finance lies valuation. And in today's economy— whether you're a seasoned manager or a budding business professional—it's essential to excel at measuring, managing, and maximizing shareholder and company value. Valuation,with its companion CD-ROM, will show you how to do just that and much more. Hailed by financial professionals worldwide as the single best guide of its kind, Valuation, Fourth Edition with CD-ROM combines the dynamic flexibility of Excel spreadsheets with the depth and breadth of a classic text. Thoroughly revised and expanded to reflect business conditions in today's volatile global economy, Valuation, Fourth Edition with CD-ROM continues the tradition of its bestselling predecessors by providing up-to-date insights and practical advice on how to create, manage, and measure the value of an organization. Along with all-new case studies that illustrate how valuation techniques and principles are applied in real-world situations, this compr

The definitive guide to incorporating for small business owners and entrepreneurs Should I incorporate my business? Which form of corporation will best help me achieve long-term business goals? What legal liabilities do I assume when I incorporate? How do I take full advantage of corporate tax regulations? Get detailed answers to these and all your other questions about incorporating your business in How to Incorporate, Fifth Edition. Attorney Michael Diamond weighs the pros and cons of incorporating, helps you choose the form of corporation that's best for you, and helps you structure your corporation for maximum legal, tax, and business advantage. This edition covers all the latest changes in corporation and partnership laws and includes up-to-the-minute information, advice, and guidance on every topic of concern to business owners dealing with the issues and difficulties of incorporating. You'll find up-to-the-minute information on: When to form a stand

Warren Buttett Is both a unique investor and individual.He is one of the few to ever become a billionaire by investing in the stock market，yet he still does his own tax return，has never issued him-self stock options，and doesn’t want or need a building with his or his company’s name on it. Not too long ago，several members of the media and the investment community were writing off Buffett’s investment principles and style as not being in step with technology investments and new methods of investing.But time has proven these critics wrong.Now，more than ever，the principles，values，and methods used by Buffett to create wealth are sought after and carefully considered. Warren Buffett Wealth does not discuss any of the latest get-rich-quick investment fads. Instead，it focuses on the straightforward，ethical factors and principles of building wealth，sustaining it，and passing it on to future generations for the betterment of society. Written by longtime Buffett expert Robert Mil

The third book in the top-selling Magic Numbers series clarifies the key concepts and formulas of finance. Magic Numbers for Bonds and Derivatives takes difficult financial concepts and breaks them down into easily understandable formulas that can be readily applied by finance professionals and individual investors. It examines key ratios and concepts for assessing bond investments from conventional to index-linked bonds, along with commonly used derivatives including futures, options, warrants, and convertibles. Ratios and concepts are described in detail, with guidelines on where to find the data needed to actually calculate them. The author includes explanations of compounding and discounting, internal rates of return, accrued interest, yield curves and spreads, duration, convexity, default rates, and more.

Contrarian Ripple Trading is a well-written and well-documented observation for stock traders. I especially enjoyed hearing the commonsense behind McNamara and Bro?zyna's method. For those individuals looking to cut through the huge amount of poor information out there, I think you will thoroughly appreciate this book. I found the high percentage of winning trades hard to argue with." —Jason Alan Jankovsky, FOREX trader and author of Trading Rules That Work Making money in today's stock market can be a difficult endeavor, especially if you're not an expert in the worlds of finance or business. Authors Aidan McNamara and Martha Broz?yna—a married couple who work outside the investment world, but who happen to be active traders—can relate to this situation. That's why they've created Contrarian Ripple Trading. Written in a straightforward and accessible style, this reliable resource outlines the approach they've successfully used to capture profits from the stock market for many years

SOMEONE WILL MAKE MONEY ON YOUR FUNDS-WHY NOT YOU? "This book is a treasure trove of practical research and pithy thoughts based on Gastineau's decades of experience; a valuable guide for the thoughtful investor." —Harold Evensky, Chairman, Evensky, Brown & Katz "Someone Will Make Money On Your Funds - Why Not You? will jar armchair mutual fund investors out of their PJ's. If you think checking out your funds in Morningstar and Lipper has you covered, you best read this book." —Maureen Nevin Duffy, Editor/Publisher, The Turnaround Tactician "This book is a must-read for fund investors. Gastineau carefully discusses many important factors such as taxes, capital gains overhang, trading costs, turnover, benchmark selection, active management, expense ratio, and aggressive trading by market timers. These factors significantly affect fund performance but may be ignored by investors. Gastineau goes on to build a strong case for choosing ETFs over mutual funds, especially for long-term investors. I st

With this book, author Melinda Gerber walks you through the twenty-nine steps needed to start a mutual fund and the thirty-six steps needed to start an ETF. She provides costs and detailed explanations of how to accomplish each task from fledgling idea to the actuality of selling shares, and also takes the time to explain the importance of creating a clear vision for your fund as well as how to successfully profile customers and identify your competition.

Buffett has generously endowed us all with a sensible and intelligent roadmap for investing. Warren Buffett - The Oracle of Everything. He has been right about the stock market, rotten accounting, CEO greed, and corporate governance. The rest of us are just catching on. Warren Buffett has turned value investing into an art form, piling up the world's second largest individual fortune and persuading millions to mimic the low-tech, buy-and-hold style of stock picking he practices at Berkshire Hathaway. Buffett and Munger are, without doubt, two of the greatest investors and capital allocators of all time, so investors would be well served to study their thinking carefully. Warren Buffett-Ace stockpicker, and now, an empire-builder. Warren Buffett has made a name for himself as the most succssful investuor of the twentieth century.

American businesses today are obsessed with the price of their stock, and no wonder. The consequences of even a modest decrease can be so dire that some executives would rather damage their corporation's long-term health than allow quarterly returns to fall below projections. But how did this situation come about? When did the stock market become the driver of the American economy? Lawrence E. Mitchell identifies the moment in American history when finance triumphed over industry. He shows how the birth of the giant modern corporation spurred the rise of the stock market and how, by the dawn of the 1920s, the stock market left behind its business origins to become the very reason for the creation of business itself.

"Anyone who has heard Dr. Goodman speak knows he delivers intelligent advice in a clear, forthright manner. His book does the same, helping investors chart a well-thought-out financial plan."–Miles Gordon, CEO, ING Advisors Network First Edition "Are you looking for a way to take charge of your financial future? Read Bob Goodman’s Independently Wealthy. It is a terrific first step to financial prosperity."–Bill Griffeth, Anchor, CNBC-TV "A fascinating look at the events and trends influencing today’s economy, coupled with pragmatic ideas on creating a solid investment portfolio."–Ginger Applegarth, author, The Money Diet: –Reaping the Rewards of Financial Fitness "Written in a forthright and accessible manner, Independently Wealthy places current economic events into perspective. It is must reading for anyone who aspires to financial independence in the new economic era."–Arthur Laffer, President, A. B. Laffer, V. A. Canto & Associates "A well-reasoned, commonsense appro

Filled with the insights of numerous experienced contributors, Structured Products and Related Credit Derivatives takes a detailed look at the various aspects of structured assets and credit derivatives. Written over a period spanning the greatest bull market in structured products history to arguably its most challenging period, this reliable resource will help you identify the opportunities and mitigate the risks in this complex financial market. 作者简介： Brian P. Lancaster is Head of Structured Products Research at Wachovia. Prior to joining Wachovia, Lancaster was a managing director (principal) in structured products at Bear, Stearns & Co. Inc. from 1990 to 2001. Glenn M. Schultz, MBA, is Managing Director and Head of ABS and Non-Agency Mortgage Research for Wachovia Capital Markets, LLC. Prior to joining Wachovia, Schultz was a managing director and head of residential ABS investment banking, managing the residential ABS and MBS businesses of the royal bank of Canada Financial

The secret to Jesse Livermore's legendary trading success Although he began his career in 1892, Jesse Livermore is still considered to be one of the world's greatest traders. In life and in death, Livermore has always been a controversial figure and his methods held up as a model for traders of all generations. Through 45 years of trading and market observation, Jesse Livermore determined that stocks and stock markets move in a series of repetitive patterns. He then developed a series of unique tools, using secret formulas and equations that allowed him to identify and interpret the movement in stocks with uncanny reliability. In Trade Like Jesse Livermore, author Richard Smitten explores the technical aspects of Livermore's trading approach and shows readers how they can use these techniques to garner the success Livermore once did. Trade Like Jesse Livermore covers every aspect of Livermore's trading methods, from discerning market behavior and trends such as top-down and tandem trading to paying clos