Book picks similar to
The Invisible Hands: Hedge Funds Off the Record - Rethinking Real Money by Steven Drobny
finance
investing
business
economics
One Up On Wall Street: How to Use What You Already Know to Make Money in the Market
Peter Lynch - 1988
According to Lynch, investment opportunities are everywhere. From the supermarket to the workplace, we encounter products and services all day long. By paying attention to the best ones, we can find companies in which to invest before the professional analysts discover them. When investors get in early, they can find the “tenbaggers,” the stocks that appreciate tenfold from the initial investment. A few tenbaggers will turn an average stock portfolio into a star performer.Lynch offers easy-to-follow advice for sorting out the long shots from the no-shots by reviewing a company’s financial statements and knowing which numbers really count. He offers guidelines for investing in cyclical, turnaround, and fast-growing companies.As long as you invest for the long term, Lynch says, your portfolio can reward you. This timeless advice has made One Up on Wall Street a #1 bestseller and a classic book of investment know-how.
Efficiently Inefficient: How Smart Money Invests and Market Prices Are Determined
Lasse Heje Pedersen - 2015
Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money--and why they sometimes don't.Pedersen views markets as neither perfectly efficient nor completely inefficient. Rather, they are inefficient enough that money managers can be compensated for their costs through the profits of their trading strategies and efficient enough that the profits after costs do not encourage additional active investing. Understanding how to trade in this efficiently inefficient market provides a new, engaging way to learn finance. Pedersen analyzes how the market price of stocks and bonds can differ from the model price, leading to new perspectives on the relationship between trading results and finance theory. He explores several different areas in depth--fundamental tools for investment management, equity strategies, macro strategies, and arbitrage strategies--and he looks at such diverse topics as portfolio choice, risk management, equity valuation, and yield curve logic. The book's strategies are illuminated further by interviews with leading hedge fund managers: Lee Ainslie, Cliff Asness, Jim Chanos, Ken Griffin, David Harding, John Paulson, Myron Scholes, and George Soros.Efficiently Inefficient effectively demonstrates how financial markets really work.Free problem sets are available online at http: //www.lhpedersen.com
The Bogleheads' Guide to Investing
Taylor Larimore - 2006
The book offers sound, practical advice, no matter what your age or net worth. Bottomline, become a Boglehead and prosper! Originally just the chat-line ruminations of Boglehead founder Taylor Larimore, and Morningstar forum leading cohorts Mel Lindauer and Michael LeBoeuf, their trusted advice has been brewed and distilled into an easy-to-use, need-to-know, no frills guide to building up your own financial well-being - so you can worry less and profit more from the investments you make. Invest like a Boglehead, and let their grassroots investment wisdom guide you down the path of long-term wealth creation and happiness, without all the worries and fuss of stock pickers and day traders. If you face a financial crisis or problem, or simply want to know what is prudent to do with the money you save, the Bogleheads will have the answers you need to help you gain your financial footing and keep it.
Anatomy of the Bear: Lessons from Wall Street's Four Great Bottoms
Russell Napier - 2007
Financial market history is a guide to understanding the future. Looking at the four occasions when US equities were particularly cheap - 1921, 1932, 1949 and 1982 - Russell Napier sets out to answer these questions by analysing every article in the "Wall Street Journal" from either side of the market bottom. In the 70,000 articles he examines, one begins to understand the features which indicate that a great buying opportunity is emerging. By looking at how markets really did work in these bear-market bottoms, rather than theorising how they should work, Napier offers investors a financial field guide to making the best financial provisions for the future. This new edition includes a brand new preface from the author.
Crashed: How a Decade of Financial Crises Changed the World
Adam Tooze - 2018
In fact it was a dramatic caesura of global significance that spiraled around the world, from the financial markets of the UK and Europe to the factories and dockyards of Asia, the Middle East, and Latin America, forcing a rearrangement of global governance. In the United States and Europe, it caused a fundamental reconsideration of capitalist democracy, eventually leading to the war in the Ukraine, the chaos of Greece, Brexit, and Trump.It was the greatest crisis to have struck Western societies since the end of the Cold War, but was it inevitable? And is it over? Crashed is a dramatic new narrative resting on original themes: the haphazard nature of economic development and the erratic path of debt around the world; the unseen way individual countries and regions are linked together in deeply unequal relationships through financial interdependence, investment, politics, and force; the ways the financial crisis interacted with the spectacular rise of social media, the crisis of middle-class America, the rise of China, and global struggles over fossil fuels.Finally, Tooze asks, given this history, what now are the prospects for a liberal, stable, and coherent world order?
On the Brink: Inside the Race to Stop the Collapse of the Global Financial System
Henry M. Paulson Jr. - 2010
But Paulson had no idea that a year later, he would find himself at the very epicenter of the world's most cataclysmic financial crisis since the Great Depression. Major institutions including Bear Stearns, Fannie Mae, Freddie Mac, Lehman Brothers, AIG, Merrill Lynch, and Citigroup, among others-all steeped in rich, longstanding tradition-literally teetered at the edge of collapse. Panic ensnared international markets. Worst of all, the credit crisis spread to all parts of the U.S. economy and grew more ominous with each passing day, destroying jobs across America and undermining the financial security millions of families had spent their lifetimes building. This was truly a once-in-a-lifetime economic nightmare. Events no one had thought possible were happening in quick succession, and people all over the globe were terrified that the continuing downward spiral would bring unprecedented chaos. All eyes turned to the United States Treasury Secretary to avert the disaster. This, then, is Hank Paulson's first-person account. From the man who was in the very middle of this perfect economic storm, ON THE BRINK is Paulson's fast-paced retelling of the key decisions that had to be made with lightning speed. Paulson puts the reader in the room for all the intense moments as he addressed urgent market conditions, weighed critical decisions, and debated policy and economic considerations with of all the notable players-including the CEOs of top Wall Street firms as well as Ben Bernanke, Timothy Geithner, Sheila Bair, Nancy Pelosi, Barney Frank, presidential candidates Barack Obama and John McCain, and then-President George W. Bush. More than an account about numbers and credit risks gone bad, ON THE BRINK is an extraordinary story about people and politics-all brought together during the world's impending financial Armageddon.
The Four Pillars of Investing
William J. Bernstein - 2002
Explains how independent investors can construct a superior investment portfolio by learning the four essentials of investing.
Endgame
Jonathan Tepper - 2011
The Debt Supercycle--when the easily managed, decades-long growth of debt results in a massive sovereign debt and credit crisis--is affecting developed countries around the world, including the United States. For these countries, there are only two options, and neither is good--restructure the debt or reduce it through austerity measures. Endgame details the Debt Supercycle and the sovereign debt crisis, and shows that, while there are no good choices, the worst choice would be to ignore the deleveraging resulting from the credit crisis. The book:Reveals why the world economy is in for an extended period of sluggish growth, high unemployment, and volatile markets punctuated by persistent recessions Reviews global markets, trends in population, government policies, and currencies Around the world, countries are faced with difficult choices. Endgame provides a framework for making those choices.
Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World
Tom Wright - 2018
The dust had yet to settle on the global financial crisis in 2009 when an unlikely Wharton grad was setting in motion a fraud of unprecedented gall and magnitude--one that would come to symbolize the next great threat to the global financial system. Billion Dollar Whale will become a classic, harrowing parable about the financial world in the twenty-first century.
Safe Haven Investing: How to Take Cover from Financial Storms
Mark Spitznagel - 2018
Mark will work through other areas that are typically considered safe, like farmland and real estate, before showing the reader how to align his/her portfolio to withstand a potential crash. Topics covered include: What is a safe haven investment and how do they fit in a portfolio? Silver and gold Real Estate, Art, & Farmland Dividends & Hedge Funds Derivatives & Tail Hedging What you, as an investor, should ultimately do
The Little Book That Still Beats the Market
Joel Greenblatt - 2007
In The Little Book that Beats the Market--a New York Times bestseller with 300,000 copies in print--Greenblatt explained how investors can outperform the popular market averages by simply and systematically applying a formula that seeks out good businesses when they are available at bargain prices. Now, with a new Introduction and Afterword for 2010, The Little Book that Still Beats the Market updates and expands upon the research findings from the original book. Included are data and analysis covering the recent financial crisis and model performance through the end of 2009. In a straightforward and accessible style, the book explores the basic principles of successful stock market investing and then reveals the author's time-tested formula that makes buying above average companies at below average prices automatic. Though the formula has been extensively tested and is a breakthrough in the academic and professional world, Greenblatt explains it using 6th grade math, plain language and humor. He shows how to use his method to beat both the market and professional managers by a wide margin. You'll also learn why success eludes almost all individual and professional investors, and why the formula will continue to work even after everyone "knows" it. While the formula may be simple, understanding why the formula works is the true key to success for investors. The book will take readers on a step-by-step journey so that they can learn the principles of value investing in a way that will provide them with a long term strategy that they can understand and stick with through both good and bad periods for the stock market.As the Wall Street Journal stated about the original edition, "Mr. Greenblatt...says his goal was to provide advice that, while sophisticated, could be understood and followed by his five children, ages 6 to 15. They are in luck. His 'Little Book' is one of the best, clearest guides to value investing out there."
Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports
Howard Schilit - 1993
This work contains chapters, data, and research that reveal contemporary shenanigans that have been known to fool even veteran researchers.
Bond Markets, Analysis, and Strategies
Frank J. Fabozzi - 1988
Fabozzi's "Bond Markets" is the most applied book on the market. It prepares students to analyze the bond market and manage bond portfolios without getting bogged down in the theory. The author's extensive experience in the field is reflected in this uniquely applied approach. This seventh edition has been painstakingly updated. The author conducted numerous conversations and discussions with analysts and portfolio managers to make sure that this text reflects the field today. Pricing of Bonds; Measuring Yield; Bond Price Volatility; Factors Affecting Bond Yields and the Term Structure of Interest Rates; Treasury and Agency Securities; Corporate Debt Instruments; Municipal Securities; Non-U.S. Bonds; Residential Mortgage Loans; Agency Mortgage Pass-through Securities; Agency Collateralized Mortgage Obligations and Stripped Mortgage-Backed Securities; Prime and Subprime Mortgage-Backed Securities; Commercial Loans and Commercial Mortgage-Backed Securities; Asset-Backed Securities; Cash Collateralized Debt Obligations; Interest Rate Models; Analysis of Bonds with Embedded Options; Analysis of Mortgage-Backed Securities; Analysis of Convertible Bonds; Corporate Bond Credit Analysis; Credit Risk Modeling; Active Bond Portfolio Management Strategies; Indexing; Liability Driven Strategies; Bond Performance Measurement and Evaluation; Interest Rate Futures; Interest Rate Options; Interest-Rate Swaps, Caps, and Floors; Credit Derivatives and Synthetic CDOs The latest edition of Fabozzi's "Bond Markets "helps make sense of bond markets and mortgage financing. The 2008 financial crisis is explained as part of the newly added chapter on prime and subprime loans.
The Rise and Fall of Nations: Forces of Change in the Post-Crisis World
Ruchir Sharma - 2016
Narrowing the thousands of factors that can shape a country’s fortunes to ten clear rules, Sharma explains how to spot political, economic, and social changes in real time. He shows how to read political headlines, black markets, the price of onions, and billionaire rankings as signals of booms, busts, and protests. Set in a post-crisis age that has turned the world upside down, replacing fast growth with slow growth and political calm with revolt, Sharma’s pioneering book is an entertaining field guide to understanding change in this era or any era.A Library Journal Best Book of 2016
Money Mavericks: Confessions of a Hedge-Fund Manager
Lars Kroijer - 2010
They can sink whole economies, and have the potential to crash the entire global financial system. Yet they are beyond regulation. We should be very afraid.' New Statesman, 2006 What is a hedge fund and what do hedgies actually do? How are the staggering fees in the hedge industry calculated? And are the managers and the funds worth it? A true entrepreneur, Lars Kroijer was a leading hedge fund manager and founded his own hedge fund, Holte Capital in 2002. In 2008, just before the crash he shut down the fund and returned the external capital to the remaining investors. This is the story of the life of a hedge fund. It charts the interminable rise of Holte Capital from 2002 to 2008, explaining what it was like to run a hedge fund in a period where the industry went from relative obscurity to become something everyone wanted to discuss. Detailing the practices, excesses, tricks and tenacity of the hedge fund industry, Money Mavericks shines the light on the incredible inside workings of hedge funds. This book will appeal to those who are familiar with the hedge fund industry, but also for those who want to know what the fuss is about.