By the mid-1990s the old school grizzled traders had been replaced by a new breed of quantitative analysts, applying mathematics to the "art" of trading and making of it a science. A similar phenomenon is happening in poker. The grizzled "road gamblers" are being replaced by a new generation of players who have challenged many of the assumptions that underlie traditional approaches to the game. One of the most important features of this new approach is a reliance on quantitative analysis and the application of mathematics to the game. This book provides an introduction to quantitative techniques as applied to poker and to a branch of mathematics that is particularly applicable to poker, game theory, in a manner that makes seemingly difficult topics accessible to players without a strong mathematical background.

    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!

    This easy-to-understand guide answers all the questions you need to know to secure your financial future, such as: What does it mean to my paycheck when the Fed lowers or raises interest rates?What's the difference between bonds, securities, and derivatives - and which should I invest in now?What does Keynesian economics have to do with my savings? For those people whose heads spin when reading the business pages of the newspaper, here's a roadmap through the economic jungle. In simple, plain language, Peter Sander explains how economies work, why they grow, how they contract, and what the government can and can't do to help them. Most important, he tells you how all this affects "you" - and what kind of changes you're going to see in your finances as a result.Economics has been called the dismal" science. But it doesn't need to be gloomy or impenetrable. This book is an essential guide for anyone who wants to understand where the economy is today, where it's going, and what it means for the rest of us."

    Men like Andrew Carnegie built empires like Carnegie Steel, and financiers like J.P. Morgan merged and consolidated them. The era also made names like Astor, Cooke, and Vanderbilt instantly recognizable across the globe. Over time, the unfathomable wealth generated by the businesses made the individuals on top incredibly rich, and that in turn led to immense criticism and an infamous epithet used to rail against them: robber barons. Dozens of men were called “robber barons”, but few of them were as notorious as Cornelius Vanderbilt, who also happened to be one of the nation’s first business titans. Vanderbilt was a railroad and shipping magnate at a time that the industry was almost brand new, but he rode his success to become one of the richest and most powerful men in American history. When historians are asked to name the richest man in history, a name that often pops up is that of John D. Rockefeller, who co-founded Standard Oil and turned it into the first real trust in the United States. Rockefeller had been groomed ambitiously by a huckster father nicknamed “Devil Bill”, who was just as willing to cheat his son as an unsuspecting public, and John certainly chased his dreams of living long and large. Rockefeller forged his empire in the first few decades of his life and nearly worked himself to death by the time he was 50, which helped compel him to retire for the last several decades of his life. At one point, Rockefeller’s wealth was worth more than 1.5% of the entire country’s gross domestic product, and by adjusting for inflation, he is arguably the richest man in American history if not world history. When robber barons across America took the reins of vast industries, they needed financing, and many of them turned to the most famous banker of all: John Pierpont Morgan. It was J.P. Morgan who bankrolled the consolidation of behemoth corporations across various industries, including the merging of Edison General Electric and Thomson-Houston Electric Company, which subsequently became General Electric, still known simply as GE across the world today. Similarly, he financed Federal Steel Company and consolidated various other steel businesses to help form the United States Steel Corporation. While critics complained about the outsized influence that these gigantic businesses had, Morgan’s massive wealth also gave him unprecedented power in the financial sector and the ability to deal with politicians. In fact, Morgan played an important part in the Panic of 1907 and the subsequent decision to create the Federal Reserve as a monetary oversight. Ironically, one of America’s most famous robber barons, Andrew Carnegie, epitomized the American Dream, migrating with his poor family to America in the mid-19th century and rising to the top of the business world in his adopted country. A prodigious writer in addition to his keen sense of business, Carnegie was one of the most outspoken champions of capitalism at a time when there was pushback among lower social classes who witnessed the great disparities in wealth; as he once put it, “Upon the sacredness of property civilization itself depends—the right of the laborer to his hundred dollars in the savings bank, and equally the legal right of the millionaire to his millions.

    Ross I.S. Zbar spent his career as a plastic surgeon, in the US as well as abroad in developing countries, mending disease- and trauma-related deformities--and he was never hesitant to make his voice heard as an advocate for better patient care.Then, on a warm December day in 2018, Ross suffered a trauma that nearly took his life, putting him into the hands of his profession in a way he never anticipated. While his life was ultimately saved, his journey to wellness within the conventional medical establishment--from three weeks in the ICU to in-patient rehab--was nothing short of nightmarish. Frequently sedated and physically restrained, he was inundated with mental, emotional, and sensory evidence of an industry gone haywire, experiencing clearly from the patient side what he had only touched on as an advocate.Vowing to be an even stronger voice for change, Ross used the power of his mind to recover faster than any of his doctors predicted. Floating Feathers not only recounts his compelling story but elucidates a thoughtful and authoritative critical call to the members of his beloved profession for a massive overhaul."We possess the technology and the brilliant minds to motivate this level of sweeping change so desperately required," he says. "We simply need to champion it as a non-negotiable priority."This profoundly personal yet overarchingly relative book endeavors to be a vital first step toward that goal.

    And you have no idea what you signed up for. Or maybe you've been a stepmom for a while now, but things are getting you down. Who do you turn to for help? Where is the stepmothering support group that'll give you the advice you need? Who actually gets how hard being a stepmom can be?We do. We are the women who have chosen stepmotherhood and lived to tell the tale. This guide holds our solutions to help you:- Brave the crazy ex demands- Overcome the financial hurdles of a blended family- Be prepared for the legal battles and custody arrangements- Handle disrespectful children- Nourish your relationship- Manuever the emotional breakdowns of stepmotherhood- Build your own stepmom's club- Understand why you need your partner to have your backWritten by stepmoms for stepmoms, these tips, anecdotes, and words of advance will help you find success and support within your new family.We are the Stepmoms' Club --your club --and we're here to help you.

    Fischer Black and the Revolutionary Idea of Finance explores Black's intellectual journey from Harvard to the offices of ADL, from the University of Chicago to MIT, and then to Goldman Sachs. This poignant book tells the story of one man's intellectual adventure at the very center of modern finance, fully describing the birth of quantitative finance and financial engineering along the way.Years of research and interviews with Black's business and academic associates, as well as family and friends, are distilled into a scholarly yet personal story of the formation and development of the extraordinary mind and unique character of this unassuming renegade Black deciphered the universe of modern finance in ways that went underappreciated for many years and would have won the Nobel Prize in Economics, if not for his untimely death in 1995 Author Perry Mehrling weaves Black's personal story with the birth of modern finance into a vignette-based business biography that captures the essence of this extraordinary man, explaining, for the first time, the ground-breaking impact Fischer Black had on the worlds of money and finance as well as world markets This compelling biography of the "Einstein of Finance" follows Fischer Black through his incredible career, from his transition from academia to one of the most elite of firms on Wall Street--Goldman Sachs--where he developed quantitative models that tens of thousands of professionals still use today. Fischer Black and the Revolutionary Idea of Finance demystifies this genius of finance and provides an engaging and entertaining look at a man whose life's work encapsulates modern financial theory.

    

    

    A Simon & Schuster eBook

    Dent, Jr., predicted that the stimulus plan created in response to the first crisis would hit demographic and debt saturation headwinds and ultimately fail. In 2010, the stimulus plan had started to fail, and it was already stalling by the first quarter of 2011. The Great Crash Ahead outlines why the next crash and crisis is inevitable, and just around the corner—coming between 2012 and 2014. With incisive critical analysis and historical examples, this book lays bare the traditional assumptions of economics. Dent shows that the government doesn’t drive our economy, consumers and businesses do; that the Fed does not create most of the money in our economy, the private banking system does; and that the largest generation in history is now saving for or moving into retirement, meaning slowing growth. This is the new normal! Our banking system borrowed to lend for the first time in history with unprecedented leverage and debt levels of $42 trillion, way beyond the massive government debt. But the government’s promises and unfunded liabilities take the cake, at an estimated $66 trillion and growing! These massive debts will have to be restructured in a time of slowing spending, and this means a deflationary crisis, which is very different from the inflationary crisis of the 1970s and requires very different personal, investment, and business strategies. Dent and Johnson outline these strategies in very practical detail. In the coming years, the greatest surprise will be that the U.S. dollar becomes the safe haven and appreciates just when everyone is calling for it to crash, while the gold and silver bubbles burst along with the stock and commodity bubbles. And real estate will see another round of declines just when everyone thought it could go no lower. The Great Crash Ahead is about making smart, cautious investments—avoiding the sort of high-risk, high-profit investment schemes that sank the world economy. The road to recovery will be filled with challenges and will require massive change, such as debt restructuring, plans for greater employment, the restructuring of social welfare programs such as social security and health care, budget cuts, and higher taxes—in short, a revision of the kind of lifestyle that characterized the “Roaring 2000s.” The good news is this process will eliminate tens of trillions of dollars of debt and can make way for growth again as the echo boom generation ascends. Or we can continue on our present course and end up like the Japanese, with no growth and high debt two decades later.

    It can urge the reader to explore new methodologies to have maximum fun with numbers, and opt for a higher course in mathematics. The book was specifically designed to help the student community, and develop a strong affinity towards problem solving.the book offers many complicated, and interesting challenges for the user, keeping them engaged throughout. A large number of solved problems are also included in challenge and thrill of pre-college mathematics, to give readers an insight into the subject. The book can be an eye-opener for school students of class 7 and above. The materials given in the book are powerful enough to help them develop a strong interest for the subject. The concepts are explained in a simple and comprehensive manner, providing them with a good understanding of mathematical fundamentals.what makes the book distinct is its detailed sections on geometry, that can improve the reasoning skills of students. There are also detailed accounts on algebra and trigonometry, enhancing the competitive ability of the users. The topics such as combinatorics, number theory, and probability are also explained in detail, in the book. Each chapter was designed with the intention of motivating students to appreciate the excitement that mathematical problems can provide. Published in 2003 by new age international publishers, the book is available in paperback. Key features: the book includes a collection of more than 300 solved numerical problems, compiled from various national, as well as international mathematical olympiads.it is widely recommended by students and teachers, alike as an essential preparatory book for those writing competitive examinations.

    With an accessible, straightforward approach. He guides traders through the basics of option pricing, volatility measurement, hedging, money management, and trade evaluation. In addition, Sinclair explains the often-overlooked psychological aspects of trading, revealing both how behavioral psychology can create market conditions traders can take advantage of-and how it can lead them astray. Psychological biases, he asserts, are probably the drivers behind most sources of edge available to a volatility trader. Your goal, Sinclair explains, must be clearly defined and easily expressed-if you cannot explain it in one sentence, you probably aren't completely clear about what it is. The same applies to your statistical edge. If you do not know exactly what your edge is, you shouldn't trade. He shows how, in addition to the numerical evaluation of a potential trade, you should be able to identify and evaluate the reason why implied volatility is priced where it is, that is, why an edge exists. This means it is also necessary to be on top of recent news stories, sector trends, and behavioral psychology. Finally, Sinclair underscores why trades need to be sized correctly, which means that each trade is evaluated according to its projected return and risk in the overall context of your goals. As the author concludes, while we also need to pay attention to seemingly mundane things like having good execution software, a comfortable office, and getting enough sleep, it is knowledge that is the ultimate source of edge. So, all else being equal, the trader with the greater knowledge will be the more successful. This book, and its companion CD-ROM, will provide that knowledge. The CD-ROM includes spreadsheets designed to help you forecast volatility and evaluate trades together with simulation engines.

    Where they align is in their belief that the market is beatable. This book seeks to take the best aspects of value investing and quantitative investing as disciplines and apply them to a completely unique approach to stock selection. Such an approach has several advantages over pure value or pure quantitative investing. This new investing strategy framed by the book is known as quantitative value, a superior, market-beating method to investing in stocks.Quantitative Value provides practical insights into an investment strategy that links the fundamental value investing philosophy of Warren Buffett with the quantitative value approach of Ed Thorp. It skillfully combines the best of Buffett and Ed Thorp--weaving their investment philosophies into a winning, market-beating investment strategy.First book to outline quantitative value strategies as they are practiced by actual market practitioners of the discipline Melds the probabilities and statistics used by quants such as Ed Thorp with the fundamental approaches to value investing as practiced by Warren Buffett and other leading value investors A companion Website contains supplementary material that allows you to learn in a hands-on fashion long after closing the book If you're looking to make the most of your time in today's markets, look no further than Quantitative Value.

    Suitable for a two semester course in complex analysis, or as a supplementary text for an advanced course in function theory, this book aims to give students a good foundation of complex analysis and provides a basis for solving problems in mathematics, physics, engineering and many other sciences.