He believes that we should investigate what makes some countries more capable than others. Complex products—from films to robots, apps to automobiles—are a physical distillation of an economy’s knowledge, a measurable embodiment of its education, infrastructure, and capability. Economic wealth accrues when applications of this knowledge turn ideas into tangible products; the more complex its products, the more economic growth a country will experience.A radical new interpretation of global economics, Why Information Grows overturns traditional assumptions about the development of economies and the origins of wealth and takes a crucial step toward making economics less the dismal science and more the insightful one.

    Readers will learn about investors, brokers, dealers, arbitrageurs, retail traders, day traders, rogue traders, and gamblers; exchanges, boards of trade, dealer networks, ECNs (electronic communications networks), crossing markets, and pink sheets. Also covered in this text are single price auctions, open outcry auctions, and brokered markets limit orders, market orders, and stop orders. Finally, the author covers the areas of program trades, blocktrades, and short trades, price priority, time precedence, public order precedence, and display precedence, insider trading, scalping, and bluffing, and investing, speculating, and gambling.

    If you have not yet bought the original copy, make sure to purchase it before buying this unofficial summary from aBookaDay. SPECIAL OFFER $2.99 (Regularly priced: $3.99) OVERVIEW This review of The Big Short: Inside the Doomsday Machine by Michael Lewis provides a chapter by chapter detailed summary followed by an analysis and critique of the strengths and weaknesses of the book. The main theme explored in the book is how corruption and greed in Wall Street caused the crash of the subprime mortgage market in 2008. Despite being completely preventable, the big firms in Wall Street chose to ignore the oncoming fall in favor of making money. Michael Lewis introduces characters—men outside of the Wall Street machine—who foresaw the crisis and, through several different techniques, were able to predict how and when the market would fall. Lewis portrays these men—Steve Eisman, Mike Burry, Charlie Ledley, and Jamie Mai—as the underdogs, who were able to understand and act upon the obvious weaknesses in the subprime market. Lewis’s overall point is to demonstrate how the Wall Street firms were manipulating the market. They used loans to cash in on the desperation of middle-to-lower class Americans, and then ultimately relied on the government to bail them out when the loans were defaulted. Using anecdotes and interviews from the men who were involved first-hand, the author makes the case that Wall Street, and how they conducted business in regards to the subprime mortgage market, is truly corrupt beyond repair, and the men he profiles in this novel were trying to make the best out of a bad situation. By having the words from the sources themselves, this demonstrates Lewis’s search for the truth behind what actually happened. Ultimately, we as an audience can not be sure if the intentions of these underdogs were truly good, but Lewis does an admirable job presenting as many sides to the story as possible. The central thesis of the work is that the subprime mortgage crisis was caused by Wall Street firms pushing fraudulent loans upon middle-to-lower class Americans that they would essentially not be able to afford. Several people outside of Wall Street were able to predict a crash in the market when these loans would be defaulted on, and bought insurance to bet against the market (essentially, buying short). Over a time period from roughly 2005-2008, the market crashed and huge banks and firms lost billions of dollars, filed for bankruptcy, or were bailed out by the government. These men, the characters of Lewis’s novel, were able to bet against the loans and made huge amounts of money, but it was not quite an easy journey. Michael Lewis is a non-fiction author and financial journalist. He has written several novels—notably Liar’s Poker in 1989, Moneyball in 2003, and The Blind Side in 2006. Born in New Orleans, he attended Princeton University, receiving a BA degree in Art History. After attending London School of Economics and receiving his masters there, he was hired by Salomon Brothers where he experienced much about what he wrote about in Liar’s Poker. He is currently married, with three children and lives in Berkeley, California. SUMMARY PROLOGUE: POLTERGEIST Michael Lewis begins his tale of the remarkable—and strange—men who predicted the immense fall of the housing market by immediately exposing himself as the exact opposite type of person from them. He explains to the reader that he has no background in accounting, business, or money managing.

    Author Steven Drobny demystifies how these star traders make billions for well-heeled investors, revealing their theories, strategies and approaches to markets. Drobny, cofounder of Drobny Global Advisors, an international macroeconomic research and advisory firm, has tapped into his network and beyond in order assemble this collection of thirteen interviews with the industry's best minds. Along the way, you'll get an inside look at firsthand trading experiences through some of the major world financial crises of the last few decades. Whether Russian bonds, Pakistani stocks, Southeast Asian currencies or stakes in African brewing companies, no market or instrument is out of bounds for these elite global macro hedge fund managers. Highly accessible and filled with in-depth expert opinion, Inside the House of Money is a must-read for financial professionals and anyone else interested in understanding the complexities at stake in world financial markets. "The ruminations of supposedly hush-hush hedge fund operators are richly illuminating." --New York Times

    It proposes enlightening similarities between, for instance, maneuvering in limited war and in a traffic jam; deterring the Russians and one's own children; the modern strategy of terror and the ancient institution of hostages.

    Your Money or Your Life is even more relevant today than it was when the book first hit the stands, and a great publicity campaign will bring this already strong-selling book to a whole new audience.

     Understand the dynamics of price action trading and give yourself a significant trading advantage. Benefit from years of trading experience. Give yourself an advantage by learning from someone who has experience on a prop desk. Atanas will teach you what you need to know about different types of price action and and how to trade it. Not sure where to start? Are you unsure about what it means to trade price action? Or maybe you don't understand how technical indicators work. This book will give your trading clarity. Understand different types of candlesticks and price action patterns so you can reduce your risk and be consistently profitable.. Easy to understand explanations of complex topics, this book will demystify price action trading once and for all. From Steve Burns of NewTraderU.com: "Atanas writes about the topics that most traders are interested in, price action and the tools to trade it systematically. His insight on technical indicators, how to identify and trade a trend, and how to visually see chart patterns have been read by tens of thousands of readers. The work and effort Atanas puts into writing and custom illustration is a testament to his passion for trading." About the Author: Atanas Matov a.k.a. Colibri Trader (@priceinaction on Twitter) started his trading career as a retail trader in the early 2000’s. After a few years of trading and investing his own funds, he won the KBC stock market challenge and shortly afterwards started working for a leading prop trading house in London. Currently he is trading his own account and trying to help other traders through his trading blog and social media. Major part of Atanas’s philosophy is in giving back and helping others achieve their trading goals. In his own words: “Judge your trading success by the things you have given up in order to get where you are now!" Follow Atanas on Twitter @priceinaction www.colibritrader.com

    Author Brent Donnelly has been a successful interbank FX trader for more than 20 years and in this book, he shares the specific strategies and tactics he has used to profit in the forex marketplace. The book helps investors understand and master foreign exchange trading in order to achieve sustainable long-term financial success. The book builds in intensity and depth one topic at a time, starting with the basics and moving on to intermediate then advanced setups and strategies. Whether you are new to currency trading or have years of experience, The Art of Currency Trading provides the information you need to learn to trade like an expert. This much-needed guide provides: an insider’s view of what drives currency price movements; a clear explanation of how to combine macro fundamentals, technical analysis, behavioral finance and diligent risk management to trade successfully; specific techniques and setups you can use to make money trading foreign exchange; and steps you can take to better understand yourself and improve your trading psychology and discipline. Written for currency traders of all skill levels, international stock and bond investors, corporate treasurers, commodity traders, and asset managers, The Art of Currency Trading offers a comprehensive guide to foreign exchange trading written by a noted expert in the field.

    The world is doomed, they argue, and there are just too many problems to overcome. But is this really the case? In Fewer, Richer, Greener, author Laurence B. Siegel reveals that the world has improved--and will continue to improve--in almost every dimension imaginable.This practical yet lighthearted book makes a convincing case for having gratitude for today's world and optimism about the bountiful world of tomorrow. Life has actually improved tremendously. We live in the safest, most prosperous time in all human history. Whatever the metric--food, health, longevity, education, conflict--it is demonstrably true that right now is the best time to be alive. The recent, dramatic slowing in global population growth continues to spread prosperity from the developed to the developing world. Technology is helping billions of people rise above levels of mere subsistence. This technology of prosperity is cumulative and rapidly improving: we use it to solve problems in ways that would have be unimaginable only a few decades ago. An optimistic antidote for pessimism and fear, this book:Helps to restore and reinforce our faith in the future Documents and explains how global changes impact our present and influence our future Discusses the costs and unforeseen consequences of some of the changes occurring in the modern world Offers engaging narrative, accurate data and research, and an in-depth look at the best books on the topic by leading thinkers Traces the history of economic progress and explores its consequences for human life around the world Fewer, Richer, Greener: Prospects for Humanity in an Age of Abundance is a must-read for anyone who wishes to regain hope for the present and wants to build a better future.

    From the optimizing individual to game theory to price theory, The Cartoon Introduction to Economics is the most digestible, explicable, and humorous 200-page introduction to microeconomics you'll ever read.Bauman has put the "comedy" into "economy" at comedy clubs and universities around the country and around the world (his "Principles of Economics, Translated" is a YouTube cult classic). As an educator at both the university and high school levels, he has learned how to make economics relevant to today's world and today's students. As Google's chief economist, Hal Varian, wrote, "You don't need a brand-new economics. You just need to see the really cool stuff, the material they didn't get to when you studied economics." The Cartoon Introduction to Economics is all about integrating the really cool stuff into an overview of the entire discipline of microeconomics, from decision trees to game trees to taxes and thinking at the margin.Rendering the cool stuff fun is the artistry of the illustrator and lauded graphic novelist Klein. Panel by panel, page by page, he puts comics into economics. So if the vertiginous economy or a dour professor's 600-page econ textbook has you desperate for a fun, factual guide to economics, reach for The Cartoon Introduction to Economics and let the collaborative genius of the Klein-Bauman team walk you through an entire introductory microeconomics course.

    Yet almost all mutual funds consistently fail. Hedge fund manager Andreas F. Clenow takes you behind the scenes to show you why this is the case and how anyone can beat the mutual funds. Momentum investing has been one of very few ways of consistently beating the markets. This book offers you a unique back stage pass, guiding you through how established hedge funds achieve their results. The stock markets are widely misunderstood. Buying and selling stocks seems so simple. We all know what stocks are and what the companies produce. We’re told that stocks always go up in the long run and that everyone should be in the stock markets. Oversimplifications like that can end up costing you. In the long run, the major stock indexes show a performance of five to six percent per year. For that return, you will have to bear occasional losses of over half your capital and be forced to wait many years to recover your money. Yes, in the long run stocks do go up. But the story isn’t that simple. Stocks on the Move outlines a rational way to invest in the markets for the long term. It will walk you through the problems of the stock markets and how to address them. It will explain how to achieve twice the return of the stock markets at considerably lower risk. All rules and all details will be explained in this book, allowing anyone to replicate the strategies and research. Andreas F. Clenow is the chief investment officer and partner of ACIES Asset Management, based in Zurich, Switzerland. Starting out as a successful IT entrepreneur in the 90s boom, he enjoyed a stellar career as global head of equity and commodity quant modeling for Reuters before leaving for the hedge fund world. Having founded and managed multiple hedge funds, Mr. Clenow is now overseeing asset management and trading across all asset classes. He is the author of best-selling and critically acclaimed book Following the Trend and can be reached via his popular website www.FollowingTheTrend.com.

    

    In fact, as Liaquat Ahamed reveals, it was the decisions taken by a small number of central bankers that were the primary cause of the economic meltdown, the effects of which set the stage for World War II and reverberated for decades. In Lords of Finance, we meet the neurotic and enigmatic Montagu Norman of the Bank of England, the xenophobic and suspicious Émile Moreau of the Banque de France, the arrogant yet brilliant Hjalmar Schacht of the Reichsbank, and Benjamin Strong of the Federal Reserve Bank of New York, whose façade of energy and drive masked a deeply wounded and overburdened man. After the First World War, these central bankers attempted to reconstruct the world of international finance. Despite their differences, they were united by a common fear—that the greatest threat to capitalism was inflation— and by a common vision that the solution was to turn back the clock and return the world to the gold standard. For a brief period in the mid-1920s they appeared to have succeeded. The world’s currencies were stabilized and capital began flowing freely across the globe. But beneath the veneer of boom-town prosperity, cracks started to appear in the financial system. The gold standard that all had believed would provide an umbrella of stability proved to be a straitjacket, and the world economy began that terrible downward spiral known as the Great Depression. As yet another period of economic turmoil makes headlines today, the Great Depression and the year 1929 remain the benchmark for true financial mayhem. Offering a new understanding of the global nature of financial crises, Lords of Finance is a potent reminder of the enormous impact that the decisions of central bankers can have, of their fallibility, and of the terrible human consequences that can result when they are wrong.

    As the recent collapse on Wall Street shows, we are often ill-equipped to deal with uncertainty and risk. Yet every day we base our personal and business plans on uncertainties, whether they be next month's sales, next year's costs, or tomorrow's stock price. In The Flaw of Averages, Sam Savage-known for his creative exposition of difficult subjects- describes common avoidable mistakes in assessing risk in the face of uncertainty. Along the way, he shows why plans based on average assumptions are wrong, on average, in areas as diverse as healthcare, accounting, the War on Terror, and climate change. In his chapter on Sex and the Central Limit Theorem, he bravely grasps the literary third rail of gender differences.Instead of statistical jargon, Savage presents complex concepts in plain English. In addition, a tightly integrated web site contains numerous animations and simulations to further connect the seat of the reader's intellect to the seat of their pants.The Flaw of Averages typically results when someone plugs a single number into a spreadsheet to represent an uncertain future quantity. Savage finishes the book with a discussion of the emerging field of Probability Management, which cures this problem though a new technology that can pack thousands of numbers into a single spreadsheet cell.Praise for The Flaw of Averages"Statistical uncertainties are pervasive in decisions we make every day in business, government, and our personal lives. Sam Savage's lively and engaging book gives any interested reader the insight and the tools to deal effectively with those uncertainties. I highly recommend The Flaw of Averages." --William J. Perry, Former U.S. Secretary of Defense"Enterprise analysis under uncertainty has long been an academic ideal. . . . In this profound and entertaining book, Professor Savage shows how to make all this practical, practicable, and comprehensible." ---Harry Markowitz, Nobel Laureate in Economics

    Combine this with the fact that the discipline of distress investing doesn't always follow what conventional wisdom says, and you can see why it is one of the most challenging areas in finance.Nobody understands this better than Martin Whitman--the legendary founder of Third Avenue Management LLC and a pioneer in the field of distressed markets--and leading academic Dr. Fernando Diz of Syracuse University. That's why they decided to write Distress Investing. As an outgrowth of annual distress and value investing seminars the two have taught together at Syracuse University's Martin J. Whitman School of Management, this reliable resource will help you gain a better understanding of the essential principles and techniques associated with distress investing and show you how to effectively apply them in the real world.Divided into four comprehensive parts--the General Landscape of Distress Investing, Restructuring Troubled Issuers, the Investment Process, and Cases and Implications for Public Policy--this book comprehensively covers the practice of buy-and-hold investing in distressed credits, whether it be performing loans or the reinstated issues of a reorganized issuer.From the recent changes to U.S. bankruptcy code and creditor rights to cash bailouts, you'll quickly learn how to analyze distressed situations such as pricing issues, arbitrage opportunities, tax disadvantages, and the reorganization of funding plans. Along the way, case studies of both large and small distress investing deals--from Kmart to Home Products International--will give you a better perspective of the business.Critical topics addressed throughout these pages include: Chapter 11 bankruptcy and why it's not considered an ending, but rather a beginning when it comes to distress investing The "Five Basic Truths" of distress investing The difficulty of due diligence for distressed issues Distress investing risks--from reorganization risk to risk associated with the alteration of priority of payments in bankruptcy Valuing companies by both going concern as well as their resource conversion attributes In today's turbulent economic environment, distress investing presents some enticing opportunities. Put yourself in a better position to excel at this endeavor with Distress Investing as your guide.