Wood and Bruce F. Wollenberg presented their comprehensive introduction to the engineering and economic factors involved in operating and controlling power generation systems in electric utilities, the electric power industry has undergone unprecedented change. Deregulation, open access to transmission systems, and the birth of independent power producers have altered the structure of the industry, while technological advances have created a host of new opportunities and challenges. In Power Generation, Operation, and Control, Second Edition, Wood and Wollenberg bring professionals and students alike up to date on the nuts and bolts of the field. Continuing in the tradition of the first edition, they offer a practical, hands-on guide to theoretical developments and to the application of advanced operations research methods to realistic electric power engineering problems. This one-of-a-kind text also addresses the interaction between human and economic factors to prepare readers to make real-world decisions that go beyond the limits of mere technical calculations. The Second Edition features vital new material, including: * A computer disk developed by the authors to help readers solve complicated problems * Examination of Optimal Power Flow (OPF) * Treatment of unit commitment expanded to incorporate the Lagrange relaxation technique * Introduction to the use of bounding techniques and other contingency selection methods * Applications suited to the new, deregulated systems as well as to the traditional, vertically organized utilities company Wood and Wollenberg draw upon nearly 30 years of classroom testing to provide valuable data on operations research, state estimation methods, fuel scheduling techniques, and more. Designed for clarity and ease of use, this invaluable reference prepares industry professionals and students to meet the future challenges of power generation, operation, and control.

    It's time to start doing… And this book will show you exactly where to start. Everyone knows real estate investing can be a powerful way to build wealth and achieve true financial freedom. But, because each person’s journey is different, knowing the first steps to take can be challenging.That’s why two of the biggest names in the real estate world teamed up to write the most comprehensive manual ever written on getting started in the lucrative business of real estate investing. Josh Dorkin and Brandon Turner—longtime hosts of the world’s #1 real estate podcast, The BiggerPockets Podcast—give you an insider’s look at the many different niches and strategies that exist. Find which one works best for you, your resources, and your goals.Unlike most traditional real estate books, this one won’t tell you there is “one secret path” to real estate success. Instead, it dives into dozens of unique, life-changing quests and is packed with more than forty real-life stories of how real estate investors are finding success in today’s economy. What’s inside:· How to invest in real estate while working a full-time job· The truth about LLCs and corporations · How to earn more at work (or on the side) so you can invest more · Getting your spouse on board with real estate investing· Eight unique property types you can invest in today · Eleven powerful strategies for building wealth through real estate· Twenty-eight tested methods for finding great real estate deals· Partnerships, BRRRR investing, and other creative ways to fund your deals· And so much more!

    Part 1 is about the purpose and importance of having principles in general, having nothing to do with mine. Part 2 explains my most fundamental life principles that apply to everything I do. Part 3, explains my management principles as they are being lived out at Bridgewater. Since my management principles are simply my most fundamental life principles applied to management, reading Part 2 will help you to better understand Part 3, but it’s not required—you can go directly to Part 3 to see what my management principles are and how Bridgewater has been run. One day I’d like to write a Part 4 on my investment principles. If you are looking to get the most bang for your buck (i.e., understanding for the effort), I suggest that you read Parts 1 and 2, and the beginning of Part 3 (through the Summary and Table of Principles) which will give you nearly the whole picture. It’s only about 55 pages of a normal size book. Above all else, I want you to think for yourself—to decide 1) what you want, 2) what is true and 3) what to do about it. I want you to do that in a clear-headed thoughtful way, so that you get what you want. I wrote this book to help you do that. I am going to ask only two things of you—1) that you be open-minded and 2) that you honestly answer some questions about what you want, what is true and what you want to do about it. If you do these things, I believe that you will get a lot out of this book. If you can’t do these things, you should reflect on why that is, because you probably have discovered one of your greatest impediments to getting what you want out of life.

    The original and bestselling 2000 edition of Irrational Exuberance evoked Alan Greenspan’s infamous 1996 use of that phrase to explain the alternately soaring and declining stock market. It predicted the collapse of the tech stock bubble through an analysis of the structural, cultural, and psychological factors behind levels of price growth not reflected in any other sector of the economy. In the second edition (2005), Shiller folded real estate into his analysis of market volatility, marshalling evidence that housing prices were dangerously inflated as well, a bubble that could soon burst, leading to a “string of bankruptcies” and a “worldwide recession.” That indeed came to pass, with consequences that the 2009 preface to this edition deals with. Irrational Exuberance is more than ever a cogent, chilling, and astonishingly far-seeing analytical work that no one with any money in any market anywhere can afford not to read–and heed.

    Bear Stearns was about to announce profits of $115 million for the first quarter of 2008, had $17.3 billion in cash on hand, and, as the company incessantly boasted, had been a colossally profitable enterprise in the eighty-five years since its founding.Ten days later, Bear Stearns no longer existed, and the calamitous financial meltdown of 2008 had begun.How this happened – and why – is the subject of William D. Cohan’s superb and shocking narrative that chronicles the fall of Bear Stearns and the end of the Second Gilded Age on Wall Street. Bear Stearns serves as the Rosetta Stone to explain how a combination of risky bets, corporate political infighting, lax government regulations and truly bad decision-making wrought havoc on the world financial system.Cohan’s minute-by-minute account of those ten days in March makes for breathless reading, as the bankers at Bear Stearns struggled to contain the cascading series of events that would doom the firm, and as Treasury Secretary Henry Paulson, New York Federal Reserve Bank President Tim Geithner, and Fed Chairman Ben Bernanke began to realize the dire consequences for the world economy should the company go bankrupt. But HOUSE OF CARDS does more than recount the incredible panic of the first stages of the financial meltdown. William D. Cohan beautifully demonstrates why the seemingly invincible Wall Street money machine came crashing down. He chronicles the swashbuckling corporate culture of Bear Stearns, the strangely crucial role competitive bridge played in the company’s fortunes, the brutal internecine battles for power, and the deadly combination of greed and inattention that helps to explain why the company’s leaders ignored the danger lurking in Bear’s huge positions in mortgage-backed securities.The author deftly portrays larger-than-life personalities like Ace Greenberg, Bear Stearns’ miserly, take-no-prisoners chairman whose memos about re-using paper clips were legendary throughout Wall Street; his profane, colorful rival and eventual heir Jimmy Cayne, whose world-champion-level bridge skills were a lever in his corporate rise and became a symbol of the reasons for the firm’s demise; and Jamie Dimon, the blunt-talking CEO of JPMorgan Chase, who won the astonishing endgame of the saga (the Bear Stearns headquarters alone were worth more than JP Morgan paid for the whole company). Cohan’s explanation of seemingly arcane subjects like credit default swaps and fixed- income securities is masterful and crystal clear, but it is the high-end dish and powerful narrative drive that makes HOUSE OF CARDS an irresistible read on a par with classics such as LIAR’S POKER and BARBARIANS AT THE GATE.Written with the novelistic verve and insider knowledge that made THE LAST TYCOONS a bestseller and a prize-winner, HOUSE OF CARDS is a chilling cautionary tale about greed, arrogance, and stupidity in the financial world, and the consequences for all of us.

    A lively, original, and challenging history of stock market speculation from the 17th century to present day.Is your investment in that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly? How has the psychology of investing changed--and not changed--over the last five hundred years? In Devil Take the Hindmost, Edward Chancellor traces the origins of the speculative spirit back to ancient Rome and chronicles its revival in the modern world: from the tulip scandal of 1630s Holland, to "stockjobbing" in London's Exchange Alley, to the infamous South Sea Bubble of 1720, which prompted Sir Isaac Newton to comment, "I can calculate the motion of heavenly bodies, but not the madness of people."Here are brokers underwriting risks that included highway robbery and the "assurance of female chastity"; credit notes and lottery tickets circulating as money; wise and unwise investors from Alexander Pope and Benjamin Disraeli to Ivan Boesky and Hillary Rodham Clinton.From the Gilded Age to the Roaring Twenties, from the nineteenth century railway mania to the crash of 1929, from junk bonds and the Japanese bubble economy to the day-traders of the Information Era, Devil Take the Hindmost tells a fascinating story of human dreams and folly through the ages.

    Since its introduction in 1978, this book has charted and followed this volatile world of financial markets. Charles Kindleberger's brilliant, panoramic history revealed how financial crises follow a nature-like rhythm: they peak and purge, swell and storm. Now this newly revised and expanded Fourth Edition probes the most recent "natural disasters" of the markets--from the difficulties in East Asia and the repercussions of the Mexican crisis to the 1992 Sterling crisis. His sharply drawn history confronts a host of key questions. Charles P. Kindleberger (Boston, MA) was the Ford Professor of Economics at MIT for thirty-three years. He is a financial historian and prolific writer who has published over twenty-four books.

    Ten years ago, he showed how the behavior of one small group can exert an outsized influence over the whole of America. His bestselling Microtrends highlighted dozens of tiny, counterintuitive trends that have since come to fruition, from the explosion of internet dating to the recent split within the Republican Party. Today, the world is in perplexing upheaval, and microtrends are more influential than ever. In this environment, Penn offers a necessary perspective. Microtrends Squared makes sense of what is happening in the world today. Through fifty new microtrends, Penn illuminates the shifts that are coming in the next decade. He pinpoints the unseen hand behind new power relationships that have emerged—as fringe voters and reactionary politics have found their revival, as online influencers overshadow traditional media, and as the gig economy continues to invade new swathes of industry. He speaks to the next wave of developments coming in technology, social movements, and even dating. Offering a clear vision of the future of business, politics, and culture, Microtrends Squared is a must-read for innovators and entrepreneurs, political and business leaders, and for every curious reader looking to under­stand the wave of the future when it is just a ripple.

    Confidence about where we are in a cycle comes when you learn the patterns of ups and downs that influence not just economics, markets and companies, but also human psychology and the investing behaviors that result. If you study past cycles, understand their origins and remain alert for the next one, you will become keenly attuned to the investment environment as it changes. You’ll be aware and prepared while others get blindsided by unexpected events or fall victim to emotions like fear and greed. By following Marks’s insights — drawn in part from his iconic memos over the years to Oaktree’s clients — you can master these recurring patterns to have the opportunity to improve your results.

    He is CEO and founder of GoldSilver.com, one of the world's largest gold and silver bullion dealers, CEO and founder of WealthCycles.com, an educational website, and host of the most popular video series on the topics of monetary history, economics and economic cycles, The Hidden Secrets of Money.

    There was a time when the stock market was a mechanism for growing businesses to raise money, playing a large role in the industrial revolution-boosting America to a global superpower. Today the stock market has morphed into a high-tech system of fluctuating arbitrary numbers which are used by individuals and industries alike to find profit opportunities by placing bets, masqueraded as sophisticated financial maneuvers with fancy labels and acronyms. Nowhere is this more evident than with the tendencies observed today. There is a shocking trend by today's Millennial generation to shamelessly and unapologetically find ways to use the stock market to place very high-risk bets. And unlike formal Wall Street investment institutions, these gamblers, of sorts, don't attempt to disguise the game: they are proud to call Wall Street a casino. Jaime Rogozinski combs through various elements of how reckless investors play Wall Street similar to a casino. He illustrates these often in playful ways, using entertaining and compelling real-world anecdotes. His stories are taken straight from Reddit's r/wallstreetbets community which Jaime founded in 2012, and currently has more than 800,000 followers in addition to 3 million unique visitors a month. WallStreetBets is a forum based gathering where people are notoriously known for taking a brazen and public approach at gambling with the stock market.

    Maybe before. Exponentially improving technologies such as solar, electric vehicles, and autonomous (self-driving) cars will disrupt and sweep away the energy and transportation industries as we know it. The same Silicon Valley ecosystem that created bit-based technologies that have disrupted atom-based industries is now creating bit- and electron-based technologies that will disrupt atom-based energy industries. Clean Disruption projections (based on technology cost curves, business model innovation as well as product innovation) show that by 2030: - All new energy will be provided by solar or wind. - All new mass-market vehicles will be electric. - All of these vehicles will be autonomous (self-driving) or semi-autonomous. - The new car market will shrink by 80%. - Even assuming that EVs don't kill the gasoline car by 2030, the self-driving car will shrink the new car market by 80%. - Gasoline will be obsolete. Nuclear is already obsolete. - Up to 80% of highways will be redundant. - Up to 80% of parking spaces will be redundant. - The concept of individual car ownership will be obsolete. - The Car Insurance industry will be disrupted. The Stone Age did not end because we ran out of rocks. It ended because a disruptive technology ushered in the Bronze Age. The era of centralized, command-and-control, extraction-resource-based energy sources (oil, gas, coal and nuclear) will not end because we run out of petroleum, natural gas, coal, or uranium. It will end because these energy sources, the business models they employ, and the products that sustain them will be disrupted by superior technologies, product architectures, and business models. This is a technology-based disruption reminiscent of how the cell phone, Internet, and personal computer swept away industries such as landline telephony, publishing, and mainframe computers. Just like those technology disruptions flipped the architecture of information and brought abundant, cheap and participatory information, the clean disruption will flip the architecture of energy and bring abundant, cheap and participatory energy. Just like those previous technology disruptions, the clean disruption is inevitable and it will be swift.

    In reality, financial planning can be learned, like anything else. Part financial memoir and part research-based guide to attaining lifelong security, This Is the Year I Put My Financial Life in Order is the book that everyone who has never wanted to read a preachy financial guide has been waiting for.John Schwartz and his wife, Jeanne, are pre-retirement workers of an economic class well above the poverty line, but well below the one percent. Sharing his own alternately harrowing and hilarious stories--from his brush with financial ruin and bankruptcy in his thirties to his short-lived budgeted diet of cafeteria french fries and gravy--John will walk you through his own journey to financial literacy, which he admittedly started a bit late. He covers everything from investments to retirement and insurance to wills (at fifty-eight, he didn't have one!), medical directives and more. Whether you're a college grad wanting to start out on the right foot or you're approaching retirement age and still wondering what a 401(K) is, This Is the Year I Put My Financial Life in Order will help you become your own best financial adviser.

    I rose quietly, left the room, and holding my head high, walked back to my office. My main goal was to escape as quickly as pos­sible. The board had seemed scared—why else would they have acted the way they did. But just what were they scared of?”When Michael Woodford was made president of Olympus—the company to which he had dedi­cated thirty years of his career—he became the first Westerner ever to climb the ranks of one of Japan’s corporate giants. Some wondered at the appointment—how could a gaijin who didn’t even speak Japanese understand how to run a Japanese company? But within months Wood­ford had gained the confidence of most of his colleagues and shareholders. Unfortunately, soon after, his dream job turned into a nightmare.The trouble began when Woodford learned about a series of bizarre mergers and aquisi­tions deals totaling $1.7 billion—a scandal that threatened to bring down the entire company if exposed. He turned to his fellow executives— including the chairman who had promoted him Tsuyoshi Kikukawa—for answers. But instead of being heralded as a hero for trying to save the company, Woodford was met with vague responses and hostility—a clear sign of a cover up. Undeterred, he demanded to be made CEO so he could have more leverage with his board and continue to search for the truth. Then, just weeks after being granted the top title, he was fired in a boardroom coup that shocked Japan and the business world at large. Worried his for­mer bosses might try to silence him, Woodford immediately fled the country in fear of his life and went straight to the press—making him the first CEO of a global multinational to blow the whistle on his own company.Following his dismissal, Woodford faced months of agonizing pressure that at times threatened his health and his family life. But instead of suc­cumbing he persisted, and eventually the men who had ousted him were held to account. Now, Woodford recounts his almost unbelievable true story—from the e-mail that first alerted him to the scandal, to the terrifying rumors of involve­ment with the Japanese mafia, to the stream of fruitless denials that continued to emanate from Olympus in an effort to cover up the scandal. He also paints a devastating portrait of corporate Japan—an insular, hierarchy-driven culture that prefers maintaining the status quo to exposing ugly truths.The result is a deeply personal memoir that reads like a thriller narrative. As Woodford puts it, “I thought I was going to run a health-care and consumer electronics company, but found I had walked into a John Grisham novel.”

    The authors believe that an effective managerial economics book must go beyond the nuts and bolts of economic analysis to show how these economic analysis techniques are used by practicing managers.