The Deals of Warren Buffett - Volume 1 charts the series of investments that made up that journey. In revealing detail, and with a lucid descriptive style, experienced author and investor Glen Arnold explains Buffett's thinking behind these investment deals and shows how his cumulative returns compounded his wealth over time. In this formative period, from 1941-78, Buffett developed and honed the investment philosophy that would lead him to become so successful as his career progressed. But it was not all plain sailing - Buffett made mistakes along the way - and Arnold shows how Buffett learned through success and failure how to select companies worth backing. Arnold also includes insightful 'learning points' at the end of each chapter, which reveal how investors can learn from the craft of Warren Buffett to improve their own investing. Investments featured in this first volume include: GEICO, American Express, Disney, Berkshire Hathaway, See's Candies, and The Washington Post. With stories and analysis drawn from decades of investing experience, join Glen Arnold and delve deeper in The Deals of Warren Buffett!

    John Maynard Keynes, the mercurial Cambridge economist, believed that government had a duty to spend when others would not. He met his opposite in a little-known Austrian economics professor, Freidrich Hayek, who considered attempts to intervene both pointless and potentially dangerous. The battle lines thus drawn, Keynesian economics would dominate for decades and coincide with an era of unprecedented prosperity, but conservative economists and political leaders would eventually embrace and execute Hayek's contrary vision.From their first face-to-face encounter to the heated arguments between their ardent disciples, Nicholas Wapshott here unearths the contemporary relevance of Keynes and Hayek, as present-day arguments over the virtues of the free market and government intervention rage with the same ferocity as they did in the 1930s.

     From the founder of Dividend Mantra, this is a definitive guide on why you should aim to achieve financial independence early in life and how to actually get there. It includes information on my background, the strategies I've used to grow my wealth from below zero to well into the six figures, and practical, nuts-and-bolts advice. I've written over 650 articles, and this book includes some of my most useful, inspirational, and evergreen content I've ever put out there. If you're looking for information on how to execute a a real-life journey to financial independence in real-time, this is the book for you. I describe why you should aim for financial independence and I explore the idea of true sacrifice. I also discuss the 4% safe withdrawal rate, index funds, the power of dividends and dividend growth, living below your means, and how to analyze and value stocks. I've been featured in major media, including USA Today, CNBC, Today, Yahoo, and Mr. Money Mustache. I'm hoping this book inspires you. Living below your means and investing your excess capital into high-quality companies that pay and grow dividends is not only an incredibly easy and fun way to achieve financial independence early in life, but also incredibly robust.

    This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist.Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn't wrong but merely 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.A fascinating intellectual journey filled with compelling stories, Adaptive Markets starts with the origins of market efficiency and its failures, turns to the foundations of investor behavior, and concludes with practical implications--including how hedge funds have become the Galapagos Islands of finance, what really happened in the 2008 meltdown, and how we might avoid future crises.An ambitious new answer to fundamental questions in economics, Adaptive Markets is essential reading for anyone who wants to know how markets really work.

    Trading for a Living helps you master all of those three areas: * How to become a cool, calm, and collected trader * How to profit from reading the behavior of the market crowd * How to use a computer to find good trades * How to develop a powerful trading system * How to find the trades with the best odds of success * How to find entry and exit points, set stops, and take profits Trading for a Living helps you discipline your Mind, shows you the Methods for trading the markets, and shows you how to manage Money in your trading accounts so that no string of losses can kick you out of the game. To help you profit even more from the ideas in Trading for a Living, look for the companion volume--Study Guide for Trading for a Living. It asks over 200 multiple-choice questions, with answers and 11 rating scales for sharpening your trading skills. For example: Question Markets rise when * there are more buyers than sellers * buyers are more aggressive than sellers * sellers are afraid and demand a premium * more shares or contracts are bought than sold* I and II * II and III * II and IV * III and IV Answer B. II and III. Every change in price reflects what happens in the battle between bulls and bears. Markets rise when bulls feel more strongly than bears. They rally when buyers are confident and sellers demand a premium for participating in the game that is going against them. There is a buyer and a seller behind every transaction. The number of stocks or futures bought and sold is equal by definition.

    Yet they should be asking what the global economy will look like in the years to come—where will the long-term risks and opportunities arise? These are the questions that Daniel Altman confronts in his provocative and indispensable book.The fate of the global economy, Altman argues, will be determined by deeper factors than those that move markets from moment to moment. His incisive analysis brings together hidden trends, societal pressures, and policy endgames to make twelve surprising but logical predictions about the years ahead. And his forecasts for the future raise a pressing question for today: With so many challenges awaiting us, are our political and economic institutions up to the task?Outrageous Fortunes tells which industries will grow, which economies will crumble, which investments will pay off, and where the next big crisis may occur. Altman's carefully reasoned text is an essential guide for the road ahead.

    With his expert guidance, you'll learn about such fundamentals as how the market moves, what are the three most dominant cycles, when to exit a trade, and how to hold on to winners until the end of your chosen time frame. Along with in-depth analysis of the most effective short-term trading strategies and details on the best theory and implementation of money management, Long-Term Secrets to Short-Term Trading features Williams's winning technical indicators, as well as his thoughts on a broad range of topics. Here is a sampling: * "A short-term trader has one objective; to catch the current trend of the market. That's it. That's all you should try to do!" * "The shorter your time frame of trading the less money you'll make." * "You will never make big money until you learn to hold on to your winners, and the longer you hold the more potential you have for profiteering. . . . It takes time to make money regardless of the activity." * "Wealth is not amassed with just good market calls. It also requires correct money management." * "I think you need to fear the market and fear yourself. . . . Without fear there is no respect, if you do not respect the markets and fear yourself you will become one more dead body on the long trail of commodity market casualties scattered across the land." Filled with invaluable insight, precise rules and formulas, and helpful advice from one of today's most respected market players, this comprehensive and practical resource will serve as the basis for, if not indeed become, your short-term trading "gospel."

    Jacques, Partner and Chief Investment Officer, Martingale Asset Management.Active Portfolio Management offers investors an opportunity to better understand the balance between manager skill and portfolio risk. Both fundamental and quantitative investment managers will benefit from studying this updated edition by Grinold and Kahn.-Scott Stewart, Portfolio Manager, Fidelity Select Equity (R) DisciplineCo-Manager, Fidelity Freedom (R) Funds.This Second edition will not remain on the shelf, but will be continually referenced by both novice and expert. There is a substantial expansion in both depth and breadth on the original. It clearly and concisely explains all aspects of the foundations and the latest thinking in active portfolio management.-Eric N. Remole, Managing Director, Head of Global Structured Equity, Credit Suisse Asset Management.Mathematically rigorous and meticulously organized, Active Portfolio Management broke new ground when it first became available to investment managers in 1994. By outlining an innovative process to uncover raw signals of asset returns, develop them into refined forecasts, then use those forecasts to construct portfolios of exceptional return and minimal risk, i.e., portfolios that consistently beat the market, this hallmark book helped thousands of investment managers. Active Portfolio Management, Second Edition, now sets the bar even higher. Like its predecessor, this volume details how to apply economics, econometrics, and operations research to solving practical investment problems, and uncovering superior profit opportunities. It outlines an active management framework that begins with a benchmark portfolio, then defines exceptional returns as they relate to that benchmark. Beyond the comprehensive treatment of the active management process covered previously, this new edition expands to cover asset allocation, long/short investing, information horizons, and other topics relevant today. It revisits a number of discussions from the first edition, shedding new light on some of today's most pressing issues, including risk, dispersion, market impact, and performance analysis, while providing empirical evidence where appropriate. The result is an updated, comprehensive set of strategic concepts and rules of thumb for guiding the process of-and increasing the profits from-active investment management.

    Behavioral finance, which recognizes that there is a psychological element to all investor decision-making, can help you overcome this obstacle.In The Little Book of Behavioral Investing, expert James Montier takes you through some of the most important behavioral challenges faced by investors. Montier reveals the most common psychological barriers, clearly showing how emotion, overconfidence, and a multitude of other behavioral traits, can affect investment decision-making.Offers time-tested ways to identify and avoid the pitfalls of investor bias Author James Montier is one of the world's foremost behavioral analysts Discusses how to learn from our investment mistakes instead of repeating them Explores the behavioral principles that will allow you to maintain a successful investment portfolio Written in a straightforward and accessible style, The Little Book of Behavioral Investing will enable you to identify and eliminate behavioral traits that can hinder your investment endeavors and show you how to go about achieving superior returns in the process.Praise for The Little Book Of Behavioral InvestingThe Little Book of Behavioral Investing is an important book for anyone who is interested in understanding the ways that human nature and financial markets interact. --Dan Ariely, James B. Duke Professor of Behavioral Economics, Duke University, and author of Predictably IrrationalIn investing, success means�being on the right side of most trades. No book provides a better starting point toward that goal than this one. --Bruce Greenwald, Robert Heilbrunn Professor of Finance and Asset Management, Columbia Business School'Know thyself.' Overcoming human instinct is key to becoming a better investor.� You would be irrational if you did not read this book. --Edward Bonham-Carter, Chief Executive and Chief Investment Officer, Jupiter Asset ManagementThere is not an investor anywhere who wouldn't profit from reading this book. --Jeff Hochman, Director of Technical Strategy, Fidelity Investment Services LimitedJames Montier gives us a very accessible version of why we as investors are so predictably irrational, and a guide to help us channel our 'Inner Spock' to make better investment decisions. Bravo! --John Mauldin, President, Millennium Wave Investments

    Fleckenstein, Greenspan's nearly 19-year career as Federal Reserve Chairman is even worse than anyone imagined. Labeled "Mr. Bubble" by the New York Times, Greenspan was nothing less than a serial bubble blower with a long history of bad decision-making. His famous "Greenspan Put" fueled the perception of a Goldilocks economy-but, as this explosive expose reveals, the bear has finally caught up with Goldilocks.Using transcripts of Greenspan's FOMC meetings as well as testimony before Congress, this eye-opening book delivers a timeline of his most devastating mistakes and weaves together the connection between every economic calamity of the past 19 years:The stock market crash of 1987The Savings & Loan crisisThe collapse of Long Term Capital ManagementThe tech bubble of 2000The feared Y2K disasterThe credit bubble and real estate crisis of 2007Fleckenstein explains just how far-reaching Greenspan's mess has been flung, and presents damning evidence that contradicts the former Fed chief's public naivete concerning shifts in the market and economy. He also points to a disturbing fact, that throughout his career, Greenspan not only made costly mistakes, but made the same ones-over and over again. And not only was he never able to recognize or admit to those mistakes, he constantly rewrote his own history to justify them.Greenspan's Bubbles offers a lock-stock-and-barrel portrait of a flawed but fascinating man whose words and actions have led a whole generation astray, and whose legacy will continue to challenge us in the years ahead.

    On this journey you'll discover how this staggering new technology has the potential to enable an ultra-libertarian society beyond government control.Murder for hire. Drug trafficking. Embezzlement. Money laundering. These might sound like plot lines of a thriller, but they are true stories from the short history of cryptocurrencies - digital currencies conceived by computer hackers and cryptographers that represent a completely new sort of financial transaction that could soon become mainstream. The most famous - or infamous - cryptocurrency is bitcoin. But look beyond its tarnished reputation and something much shinier emerges. The technology that underlies bitcoin and other cryptocurrencies - the blockchain - is hailed as the greatest advancement since the invention of the internet. It is now moving away from being the backbone for a digital currency and making inroads into other core concepts of society: identity, ownership and even the rule of law. The End of Money is your essential introduction to this transformative new technology that has governments, entrepreneurs and forward-thinking people from all walks of life sitting up and taking notice. ABOUT THE SERIESNew Scientist Instant Expert books are definitive and accessible entry points to the most important subjects in science; subjects that challenge, attract debate, invite controversy and engage the most enquiring minds. Designed for curious readers who want to know how things work and why, the Instant Expert series explores the topics that really matter and their impact on individuals, society, and the planet, translating the scientific complexities around us into language that's open to everyone, and putting new ideas and discoveries into perspective and context.

    Early Retirement Extreme shows how I did it and how anyone can formulate their own plan for financial independence. The book provides the principles and framework for a systems theoretical strategy for attaining that independence in 5-10 years. It teaches how a shift in focus from consuming to producing can help people out of the consumer trap, and offers a path to achieving the freedom necessary to pursue interests other than working for a living. The principles in Early Retirement Extreme show how to break the financial chains that hold people back from doing what they truly want to do. The framework has been used by many people over the last few years to accomplish a variety of goals. It provides people a means to achieve almost any goal, whether it's debt-free living, extended travel, a sabbatical, a career change, time off to raise a child, a traditional retirement, or simply a desire for a more resilient and self-sufficient lifestyle. The book was initially written for people in their 20s and 30s, but its ideas aren't limited to early retirees. Middle-aged people in the grips of consumerism can use the principles to take back control of their lives. People closer to retirement age who don't feel adequately prepared can use it to set themselves up for a comfortable retirement in a relatively short period of time. Anyone worried about their financial future can use the principles in Early Retirement Extreme to make their future more secure.

    

    

    J. O’Rourke, reads Adam Smith’s revolutionary The Wealth of Nations so you don’t have to. Recognized almost instantly on its publication in 1776 as the fundamental work of economics, The Wealth of Nations was also recognized as really long:  the original edition totaled over nine hundred pages in two volumes—including the blockbuster sixty-seven-page “digression concerning the variations in the value of silver during the course of the last four centuries,” which, “to those uninterested in the historiography of currency supply, is like reading Modern Maturity in Urdu.” Although daunting, Smith’s tome is still essential to understanding such current hot-topics as outsourcing, trade imbalances, and Angelina Jolie. In this hilarious, approachable, and insightful examination of Smith and his groundbreaking work, P. J. puts his trademark wit to good use, and shows us why Smith is still relevant, why what seems obvious now was once revolutionary, and why the pursuit of self-interest is so important.