Hedge Hogs: A Cautionary Tale


Barbara T. Dreyfuss - 2013
    A few weeks later it had completely collapsed. The disaster was mostly the responsibility of a 32-year-old trader named Brian Hunter, whose high-risk bets on natural gas prices bankrupted his firm and destroyed his career. Meanwhile, his rival at competitor fund Centaurus, John Arnold, emerged as the highest-paid trader on Wall Street and America's youngest billionaire. Meticulously researched and character driven, Hedge Hogs is a riveting, fly-on-the-wall account of the largest hedge-fund collapse in history: a blistering tale of the recent past that explains our precarious present and may predict our future.Through emails, instant messages, court testimony, and exclusive interviews, Hedge Hogs charts the colliding paths of two charismatic traders who dominated the speculative energy trading market. It follows Hunter, the Canadian farm boy and elbows-out high school basketball star, as he achieved phenomenal early success, only to see his ambition, greed, and hubris precipitate his downfall. At the center of Hunter's misfortune is Arnold, whose mild manner, sophisticated tastes, and low profile belie his own ferocious competitive streak. As the two clash, billions of dollars -- much of it in the form of pension and endowment money -- vanished.Hedge Hogs takes you behind closed doors into the shadowy world of hedge funds, the wild, unregulated frontier of finance, complete with lavish perks and over-the-top parties, where a tiny elite controls trillions of dollars of other people's money. The book traces the rise of this freewheeling industry while detailing the decades of deregulation -- of banks, of investment funds and of commodity trading -- that turned Wall Street into a casino for speculators.A gripping saga peppered with tales of fast money, vivid characters, and high drama, Hedge Hogs is also a cautionary tale that describes a financial system jeopardized by reckless practices, watered-down regulation, and regulatory loopholes, just waiting for the next bust.

Red Capitalism: The Fragile Financial Foundation of China's Extraordinary Rise


Carl E. Walter - 2010
    Instead of a stable series of policies producing steady growth, China's financial sector has boomed and gone bust with regularity in each decade. The latest decade is little different. Chinese banks have become objects of political struggle while they totter under balance sheets bloated by the excessive state-directed lending and bond issuance of 2009. Looking forward, the government's response to the global financial crisis has created a banking system the stability of which can be maintained only behind the walls of a non-convertible currency, a myriad of off-balance sheet arrangements with non-public state entities and the strong support of its best borrowers--the politically potent National Champions--who are the greatest beneficiaries of the financial status quo.China's financial system is not a model for the west and, indeed, is not a sustainable arrangement for China itself as it seeks increasingly to assert its influence internationally. This is not a story of impending collapse, but of frustrated reforms that suggests that any full opening and meaningful reform of the financial sector is not, indeed cannot be, on the government's agenda anytime soon.

Chinese Rules: Mao's Dog, Deng's Cat, and Five Timeless Lessons from the Front Lines in China


Tim Clissold - 2014
    China comes another rollicking adventure story—part memoir, part history, part business imbroglio—that offers valuable lessons to help Westerners win in China.In the twenty-first century, the world has tilted eastwards in its orbit; China grows confident while the West seems mired in doubt. Having lived and worked in China for more than two decades, Tim Clissold explains the secrets that Westerners can use to navigate through its cultural and political maze. Picking up where he left off in the international bestseller Mr. China, Chinese Rules chronicles his most recent exploits, with assorted Chinese bureaucrats, factory owners, and local characters building a climate change business in China. Of course, all does not go as planned as he finds himself caught between the world’s largest carbon emitter and the world’s richest man. Clissold offers entertaining and enlightening anecdotes of the absurdities, gaffes, and mysteries he encountered along the way.Sprinkled amid surreal scenes of cultural confusion and near misses, are smart myth-busting insights and practical lessons Westerners can use to succeed in China. Exploring key episodes in that nation’s long political, military, and cultural history, Clissold outlines five Chinese Rules, which anyone can deploy in on-the-ground situations with modern Chinese counterparts. These Chinese rules will enable foreigners not only to cooperate with China but also to compete with it on its own terms.

Naked Economics: Undressing the Dismal Science


Charles Wheelan - 2002
    In fact, you won’t be able to put this bestseller down. In our challenging economic climate, this perennial favorite of students and general readers is more than a good read, it’s a necessary investment—with a blessedly sure rate of return. This revised and updated edition includes commentary on hot topics such as automation, trade, income inequality, and America’s rising debt. Ten years after the financial crisis, Naked Economics examines how policymakers managed the worst economic crisis since the Great Depression.Demystifying buzzwords, laying bare the truths behind oft-quoted numbers, and answering the questions you were always too embarrassed to ask, the breezy Naked Economics gives you the tools to engage with pleasure and confidence in the deeply relevant, not so dismal science.

The Short Story Romance Handbook: How I Make Over $1,000 a Month Writing Short Story Romance (and it only took me 3 months)


Hope Ford - 2018
    Since then I have had three best sellers in the short romance category and am now making over $1,000 a month. I went from making $10.64 for January (my first month) to making $1297.72 for March (my third month). I am projected, by looking at sales, to make $1800+ for April (my fourth month). This book is a tell-all of exactly what I did and how I did it. This is a short book. I guarantee there is no fluff here. I get straight to the point and tell you exactly what I did. I truly want to help you become a bestselling author and help you make money writing books. Please, I encourage you to follow the steps outlined in this book. Happy Writing! #1 bestselling short romance author Hope Ford writes short, steamy, sweet romances. There is always an alpha male (because who doesn’t love an alpha male) and a woman he makes his queen. Sit back, grab a glass of wine, and get lost in this happily ever after story – that’s also a little naughty.

Adventures of a Currency Trader: A Fable about Trading, Courage, and Doing the Right Thing


Rob Booker - 2007
    If you are tired of reading how-to books, this is perfect for you. I highly recommend this book to all traders. Everyone will learn something about themselves by reading this book." --Kathy Lien, author, Day Trading the Currency Market, and Chief Strategist, www.dailyfx.com"Adventures of a Currency Trader is a must read for anyone who has ever traded or is thinking about trading in the Forex markets. Rob Booker has a unique way of taking years of market knowledge and transforming it into an educational and entertaining experience. It has quickly become a cult classic in my trading library!" --H. Jack Bouroudjian, Principal, Brewer Investment Group"Brilliant! Rob's humor and humanity shine through in this parable about trading and life. Filled with wisdom and wit, it's an exhilarating rollercoaster ride through the peaks and valleys of the learning curve, with many valuable lessons learned along the way." --Ed Ponsi, President, FXEducator.com"Rob's fable of everyman 'Harry Banes' is destined to become a trading classic. This is both the missing piece and the foundation that comes before the strategies and methodologies. The search for the Holy Grail begins and ends in the heart and mind. The journey is authentic and real and if you're willing to take it with Rob, you will be rewarded in the end. Seldom has psychology and wisdom been so entertaining!" --Raghee Horner, trader and author of Forex Trading for Maximum Profit and Days of Forex Trading"In a series of insightful and entertaining vignettes, Rob Booker teaches both the novice and the experienced trader some hard won truths about the currency market. It's a must read book written by a guy who survived the trenches and went on to prosper in the biggest and most competitive financial market in the world." --Boris Schlossberg, Senior Currency Strategist, Forex Capital Markets LLC, and author of Technical Analysis of the Currency Market

Drucker & Me: How Peter Drucker and a Texas Entrepreneur Conspired to Change the World


Bob Buford - 2014
    

The Multifamily Millionaire, Volume I: Achieve Financial Freedom by Investing in Small Multifamily Real Estate


Brandon Turner - 2021
    No matter how much cash or experience you currently have, this book will take you on a journey through buying your first multifamily investment property and give you a framework for turning that into long-term financial freedom. Millionaires are created every day—isn’t it time you joined the ranks? It won’t happen overnight and it won’t always be easy, but The Multifamily Millionaire series will make sure it happens sooner than you ever thought possible! Inside this book, you’ll discover:• How to create a million-dollar net worth in five years using the stack method • The seven different types of small multifamily real estate and which make the best rental properties• How to quickly and accurately analyze your investment, whether its two units or twenty units • Three creative no and low money down strategies that work in any market• A game-changing algorithm for estimating your ongoing repair and reserve expenses • The powerful Multifamily Millionaire Model that illustrates how a million dollars can be created from one single deal• Six off-market acquisition strategies to help you land incredible deals, even in a competitive market• How the BRRRR strategy can help you supercharge your small multifamily portfolio• Detailed instructions for managing your growing portfolio (hint: find five-star tenants!)• And so much more

The Great Inflation and Its Aftermath: The Past and Future of American Affluence


Robert J. Samuelson - 2008
    The Great Inflation, argues award-winning columnist Robert J. Samuelson in this provocative book, was the worst domestic policy blunder of the postwar era and played a crucial role in transforming American politics, economy, and everyday life-and yet its story is hardly remembered or appreciated. In these uncertain economic times, it is more imperative than ever that we understand what happened in the 1960s and 1970s, lest we be doomed to repeat our mistakes. From 1960 to 1979, inflation rose from barely more than 1 percent to nearly 14 percent. It was the greatest peacetime inflationary spike in this nation's history, and it had massive repercussions in every area of our lives. The direct consequences included Ronald Reagan's election to the presidency in 1980, stagnation in living standards, and a growing belief-both in America and abroad-that the great-power status of the United States was ending." The Great Inflation and Its Aftermath" traces the origins and rise of double-digit inflation and its fall in the brutal 1981-82 recession, engineered by the Federal Reserve under then-chairman Paul Volcker and with the staunch backing of Reagan. But that is only half the story. The end of high inflation triggered economic and social changes that are still with us. The stock market and housing booms were both direct outcomes; American business became more productive-and also much less protective of workers; and globalization was encouraged. We cannot understand today's world, Samuelson contends, without understanding the Great Inflation and its aftermath. Nor can we prepare for the future unless we heed its lessons. This incisive and enlightening book will stand as the authoritative account of a watershed event of our times. Praise for "The Great Inflation and Its Aftermath"""Newsweek" and "Washington Post" columnist Samuelson is one of the rare journalists who debates politics and economics with a healthy skepticism toward conventional wisdom. Politicians would do well to study [the errors] the past that teach that choosing quick fixes only delays and worsens the inevitable.""- Booklist" "If you want to understand the economic events of the last half century, you should read. . . Robert Samuelson's The Great Inflation and Its Aftermath: --U.S News & World Report.

Basic Finance: An Introduction to Financial Institutions, Investments, and Management


Herbert B. Mayo - 2011
    The text offers a strong finance foundation focusing on Internet resources and sample number problems, cases, and calculator solutions using a Microsoft Excel appendix. The text introduces the time value of money using three approaches to reinforce the concept--interest tables, financial calculator keystrokes, and investment analysis calculator software created specifically for the Mayo books.

A Practical Guide to Risk Management


Thomas S. Coleman - 2011
    Risk measurement and quantitative tools are critical aids for supporting risk management, but quantitative tools alone are no substitute for judgment, wisdom, and knowledge. Managers within a financial organization must be, before anything else, risk managers in the true sense of managing the risks that the firm faces.

Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor


Seth A. Klarman - 1991
    The myriad approaches they adopt offer little or no real prospect for long-term success and invariably run the risk of considerable economic loss - they resemble speculation or outright gambling, not a coherent investment program. But value investing - the strategy of investing in securities trading at an appreciable discount from underlying value - has a long history - has a long history of delivering excellent investment results with limited downside risk. Taking its title from Benjamin Graham's often-repeated admonition to invest always with a margin of safety, Klarman's 'Margin of Safety' explains the philosophy of value investing, and perhaps more importantly, the logic behind it, demonstrating why it succeeds while other approaches fail. The blueprint that Klarman offers, if carefully followed, offers the investor the strong possibility of investment success with limited risk. 'Margin of Safety' shows you not just how to invest but how to think deeply about investing - to understand the rationale behind the rules to appreciate why they work when they work, and why they don't when they don't.

The Game Changers: 20 extraordinary success stories of entrepreneurs from IIT Kharagpur


Rahul Kumar - 2012
    The entrepreneur shuns the comfort of a cushy corporate job and a seven-figure salary to set sail on unchartered waters with a single-minded zeal and only an idea as an anchor. But it is this idea and passion that makes all the difference and catapults him into a world of infinite possibilities.The Game Changers brings to you 20 success stories of IITians who went on to live the big dream. These include: Suhas Patil, Vijay Kumar, Vinod Gupta, Sam Dalal, Sridhar Mitta, Arjun Malhotra, Kiran Seth, Prabhakant Sinha, Ranbir Singh Gupta, Bikram Dasgupta, Praful Kulkarni, Sunil Gaitonde, Anand Deshpande, Arvind Kejriwal, Harish Hande, Anuradha Acharya, Venkata Subramanian, Bikash Barai, Vikram Kumar, and Krishna Mehra.With a Foreword by Dr Duvvuri Subbarao, Governor of the Reserve Bank of India, and an Introduction by Dr Damodar Acharya, Director, IIT Kharagpur, this book marks sixty golden years of India’s finest institute. Come, be a part of their journey, get inspired to dream, and make your own story.

All About Derivatives (All About Series)


Michael Durbin - 2005
    Using real-world examples and simple language, it lucidly illustrates what derivatives are and why they are so powerful. This second edition of "All About Derivatives" provides a rock-solid foundation on: The most common contracts available to you in today's marketKey concepts such as cost of carry, settlement, valuation, and payoffProven methods for establishing fair valueHow leverage can work for you--and against youThe various derivative contracts traded today, including forwards, futures, swaps, and optionsPricing methods and mathematics for determining fair valueHedging strategies for managing and reducing different types of riskINCLUDES A BRAND-NEW CHAPTER ON THE ROLEDERIVATIVES PLAYED IN THE 2008 FINANCIAL MELTDOWN

Merchants of Debt: KKR and the Mortgaging of American Business


George Anders - 2002
    Their story and that of their firm--the biggest, most successful, and most controversial participant in the age of leverage--illuminates an entire era of financial maneuvering and speculative mania. Kravis and Roberts wrote their way into the history books by concocting one giant takeover after another. Their technique: the leveraged buyout, an audacious way to acquire a company with borrowed money, borrowed management--and a lot of nerve. Their firm, Kohlberg Kravis Roberts & Co., dominated the Wall Street scene in the late 1980s, acquiring one Fortune 500 company after another, including Safeway, Duracell, Motel 6, and RJR Nabisco. Merchants of Debt draws on more than 200 interviews, including recurring access to the central figures and their KKR associates, as well as court documents and private correspondence to couch giant financial issues in human terms. The story of KKR shows how pride, jealousy, fear, and ambition fueled Wall Street's debt mania--with consequences that affected hundreds of thousands of people. Anders addresses three questions: Why did American business become so enchanted by debt in the 1980s? How exactly did Kravis and Roberts rise to the top of the heap? What have buyouts, especially KKR's deals, done to America's economic strength? Here is a gripping saga that takes readers behind closed boardroom doors to show how star-struck young bankers, ruthless deal-makers, and nervous CEOs changed one another's lives--and the whole American economy--over a fifteen-year span.