Investors traditionally view low-risk stocks as safe but unprofitable, but this old canard is based on a flawed premise; it fails to see beyond the monthly horizon, and ignores compounding returns. This book updates the thinking and brings reality to modelling to show how low-risk stocks actually outperform high-risk stocks by an order of magnitude. Easy to read and easy to implement, the plan presented here will help you construct a portfolio that delivers higher returns per unit of risk, and explains how to achieve excellent investment results over the long term.Do you still believe that investors are rewarded for bearing risk, and that the higher the risk, the greater the reward? That old axiom is holding you back, and it is time to start seeing the whole picture. This book shows you, through deep historical simulation, how to reap the rewards of smarter investing.Learn how and why low-risk, low-volatility stocks beat the market Discover the formula that outperforms Greenblatt's Construct your own low-risk portfolio Select the right ETF or low-risk fund to manage your money Great returns and lower risk sound like a winning combination -- what happens once everyone is doing it? The beauty of the low-risk strategy is that it continues to work even after the paradox is widely known; long-term investment success is possible for anyone who can shake off the entrenched wisdom and go low-risk. High Returns from Low Risk provides the proof, model and strategy to reign in your exposure while raking in the profit.

    Using the unifying valuation framework based on the Law of One Price, this work covers time-tested principles and the advancements with the practical perspective of the financial manager.

    Now you can have them--in a boxed set of HBR's Must Reads. This six-title collection includes only the most critical articles from the world's top management experts, curated from "Harvard Business Review"'s rich archives. We've done the work of selecting them so you won't have to. From leadership and strategy to managing yourself "and" others, HBR's Must Reads offer foundational articles on essential business topics to help you maximize your organization's performance and your own. The series includes: HBR's 10 Must Reads: The Essentials This book brings together the best thinking from management's most influential experts. Arm yourself with the insights of Michael Porter on competitive advantage, John Kotter on leading change, Daniel Goleman on emotional intelligence, Peter Drucker on managing your career, Clayton Christensen on disruptive innovation, Tom Davenport on analytics, Robert Kaplan and David Norton on measuring strategy with the "balanced scorecard," Rosabeth Moss Kanter on innovation, Ted Levitt on marketing, and C.K. Prahalad and Gary Hamel on core competence. Once you've read these definitive articles, you can delve into each core topic the series explores: managing yourself, managing people, leadership, strategy, and change management.HBR's 10 Must Reads on Managing Yourself The path to your professional success starts with a critical look in the mirror. Here's how to stay engaged throughout your 50-year work life, tap into your deepest values, solicit candid feedback, replenish your physical and mental energy, and rebound from tough times. This book includes the bonus article "How Will You Measure Your Life?" by Clayton M. Christensen.HBR's 10 Must Reads on Managing People Managing your employees is fraught with challenges, even if you're a seasoned pro. Boost their performance by tailoring your management styles to their temperaments, motivating with responsibility rather than money, fostering trust through solicited input, giving rookie managers the support they need, and building high-performing teams.HBR's 10 Must Reads on Leadership Are you an extraordinary leader--or just a good manager? Learn how to motivate others to excel, build your team's confidence, set direction, encourage smart risk-taking, credit others for your success, and draw strength from adversity.HBR's 10 Must Reads on Strategy Is your company spending too much time on strategy development, with too little to show for it? Discover what it takes to distinguish your company from rivals, clarify what it will (and won't) do, create blue oceans of uncontested market space, and make your priorities explicit so employees can realize your vision.HBR's 10 Must Reads on Change Management Most companies' change initiatives fail--but yours can beat the odds. Learn how to overcome addiction to the status quo, establish a sense of urgency, mobilize commitment and resources, silence naysayers, minimize the pain of change, and motivate change even when business is good.

    The clarity of his thinking--and his insistence on the relevance of ethical standards--are totally relevant as we strive to rebuild a broken financial system. For too many years, his strong voice has been lost amid the cacophony of competing self-interests, misdirected complexity, and unbounded greed. Read, learn, and support Jack's mission to reform the industry that has been his life's work. --PAUL VOLCKER, Chairman of the President's Economic Recovery Advisory Board and former Chairman of the Federal Reserve (1979-1987)Jack Bogle has given investors throughout the world more wisdom and plain financial 'horse sense' than any person in the history of markets. This compendium of his best writings, particularly his post-crisis guidance, is absolutely essential reading for investors and those who care about the future of our society. --ARTHUR LEVITT, former Chairman, U.S. Securities and Exchange CommissionJack Bogle is one of the most lucid men in finance. --NASSIM N.TALEB, PhD, author of The Black SwanJack Bogle is one of the financial wise men whose experience spans the post-World War II years. This book, encompassing his insights on financial behavior, pitfalls, and remedies, with a special focus on mutual funds, is an essential read. We can only benefit from his observations. --HENRY KAUFMAN, President, Henry Kaufman & Company, Inc.It was not an easy sell. The joke at first was that only finance professors invested in Vanguard's original index fund. But what a triumph it has been. And what a focused and passionate drive it took: it is a zero-sum game and only costs are certain. Thank you, Jack. --JEREMY GRANTHAM, Cofounder and Chairman, GMOOn finance, Jack Bogle thinks unconventionally. So, this sound rebel turns out to be right most of the time. Meanwhile, many of us sometimes engage in self-deception. So, this book will set us straight. And in the last few pages, Jack writes, and I agree, that Peter Bernstein was a giant. So is Jack Bogle. --JEAN-MARIE EVEILLARD, Senior Adviser, First Eagle Investment ManagementInsights into investing and leadership from the founder of The Vanguard GroupThroughout his legendary career, John Bogle-founder of the Vanguard mutual fund group and creator of the first index mutual fund-has helped investors build wealth the right way, while, at the same time, leading a tireless campaign to restore common sense to the investment world.A collection of essays based on speeches delivered to professional groups and college students in recent years, in Don't Count on It is organized around eight themesIllusion versus reality in investing Indexing to market returns Failures of capitalism The flawed structure of the mutual fund industry The spirit of entrepreneurship What is enough in business, and in life Advice to America's future leaders The unforgettable characters who have shaped his career Widely acclaimed for his role as the conscience of the mutual fund industry and a relentless advocate for individual investors, in Don't Count on It, Bogle continues to inspire, while pushing the mutual fund industry to measure up to their promise.

    He has the bankwide oversight on all quantitative research and the development of new products and applications supporting the trading and structuring businesses. Dan Galai, Ph.D., is the Abe Gray Professor of Banking and Finance at The Hebrew University. He is a co-CEO of Sigma PCM, an investment banking firm. Galai has consulted for the Chicago Board Options Exchange and the American Stock Exchange, and for many major banks and corporations. Robert M. Mark Ph.D., is the Chief Executive Officer of Black Diamond, which provides corporate governance, risk management consulting, and transaction services. He is the chairperson of The Professional Risk Managers' International Association's (PRMIA) Blue Ribbon Panel. He was awarded the Financial Risk Manager of the Year by the Global Association of Risk Professionals (GARP).

    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.

    Far from being a sensational reading of the runes, this book delves deep into the past, to chart how old investor trends developed and assess how new patterns might emerge. Change is the thread. As Faber points out, the world is experiencing a transformation as great as Europe s late-15th Century golden age of discovery and the Industrial Revolution of the19th Century events that altered the commercial face of the Earth forever.And from this dramatic landscape a world in which economic, social and political conditions are morphing at an alarming rate Faber identifies investment opportunities.Asia s three-billion-strong population will have a profound effect on the world, writes Faber, cautioning that today s richest cities and clusters of wealth are unlikely to retain their exalted positions in the future.

    The authors, however, bring this story alive in a fast-moving book, and the reader sees how events of that time are very relevant for today's financial world. In spite of all of our advances, including a stronger monetary system and modern tools for managing risk, Bruner and Carr help us understand that we are not immune to a future crisis.- --Dwight B. Crane, Baker Foundation Professor, Harvard Business School -Bruner and Carr provide a thorough, masterly, and highly readable account of the 1907 crisis and its management by the great private banker J. P. Morgan. Congress heeded the lessons of 1907, launching the Federal Reserve System in 1913 to prevent banking panics and foster financial stability. We still have financial problems. But because of 1907 and Morgan, a century later we have a respected central bank as well as greater confidence in our money and our banks than our great-grandparents had in theirs.- --Richard Sylla, Henry Kaufman Professor of the History of Financial Institutions and Markets, and Professor of Economics, Stern School of Business, New York University-A fascinating portrayal of the events and personalities of the crisis and panic of 1907. Lessons learned and parallels to the present have great relevance. Crises and panics are as much a part of our future as our past.- --John Strangfeld, Vice Chairman, Prudential Financial-Who would have thought that a hundred years after the Panic of 1907 so much remained to be written about it? Bruner and Carr break significant new ground because they are willing to do the heavy lifting of combing through massive archival material to identify and weave together important facts. Their book will be of interest not only to banking theorists and financial historians, but also to business school and economics students, for its rare ability to teach so clearly why and how a panic unfolds.- --Charles Calomiris, Henry Kaufman Professor of Financial Institutions, Columbia University, Graduate School of Business

    Since the dot.com crash and ensuing bear market, significant changes have come about in the investing world, and The Neatest Little Guide takes this into account. In this revised edition, readers will learn: € Strategies on how to double the Dow with one simple investment and the latest products required for this approach € Methods investors can use to avoid disasters such as Enron and WorldCom € Thoroughly updated reference lists, including new websites, new software, new brokers, and new publications With the right information for investors to keep pace, and rooted in the principles that made it invaluable from the start, The Neatest Little Guide to Stock Market Investing is a resource that no serious investor can be without.

    The how we got here is brilliantly described in a collection of pieces from Grant's Interest Rate Observer, the Wall Street insider's Bible. The where we are going is treated in Jim Grant's up-to-the-minute introduction. No fan of Greenspan or Bernanke, Grant tells the unvarnished truth about America.

    This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist.Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn't wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo's new paradigm explains how financial evolution shapes behavior and markets at the speed of thought--a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation.A fascinating intellectual journey filled with compelling stories, Adaptive Markets starts with the origins of market efficiency and its failures, turns to the foundations of investor behavior, and concludes with practical implications--including how hedge funds have become the Galapagos Islands of finance, what really happened in the 2008 meltdown, and how we might avoid future crises.An ambitious new answer to fundamental questions in economics, Adaptive Markets is essential reading for anyone who wants to know how markets really work.

    Learn how to use CDs, bonds, and bond funds to manage risk/reward even during low interest rates. You will learn:How to choose your stocks/bonds allocationHow to become immune to changing interest ratesWhen to use CDs and individual bondsHow to choose a good bond fundHow to hedge against unexpected inflationContents:Foreword by Larry SwedroeIntroduction- Who Should Read This Book?- Start with a Sound Financial LifestyleWhy Bother With Bonds?- Stocks are risky in the short-run, and the long run too!- Bonds Make Risk More Palatable- Bonds Can Be A Safe Bet- Bonds Are An Attractive Investment DiversifierLife Is Complicated. Bonds Are Not.- What is a Money Market Fund?- Are CDs Better Than Bonds?- What Are Bonds?- What is a Bond Ladder?- Individual Bonds or a Bond Fund?Bonds: Risks and Returns- Yield, Price And Making Comparisons— How To Compare Individual Bond Returns— How to Compare Bond Fund Returns— Total Return: To Measure And Compare Performance- How To Reduce Risk From Interest Rates Changes— Duration: The Point of Indifference to Interest Rates— Duration: The Measure of Sensitivity to Interest Rates- How To Reduce Risk From Unexpected Inflation— Real versus Nominal Interest Rates— Why Include TIPS In Your Portfolio?- Credit Quality or Default RiskBuild The Bond Portion Of Your Portfolio- Start With Your Goals.- How Much Risk Is Right For You?— Understand How Much Risk You’re Taking— Take Your Risk In Stock Market, Not Bond Market— How Much in Bonds? How Much in Stocks?— Your Needs Change Over Time- The Importance of Low Cost— How Much To Diversify Bonds?— The Importance of Low Cost— Five Low-Cost Strategies You Can Do Yourself- Taxes Matter- Example Portfolios (both good and bad)Common Misconceptions Important to Correct- Stocks Are Safer In The Long Run- Holding a Bond (or CD) to Maturity Eliminates Risk- Stocks Are Safer Than Bonds- The Best Funds Have The Most Stars- A One Percent Fee Is Small- Rising Interest Rates are Bad for Bond Holders- You Can’t Beat the Market Using Index Funds- Use Multiple Investment Companies To Diversify- You Need Many Mutual Funds to Diversify- Frugal Means StingyReviews Worth Noting:“[As] stocks have surged and bond yields have dwindled, investors increasingly ask "Why bother with bonds?" Rick Van Ness takes this question and runs with it in his book sporting this provocative title. Sooner or later, this question will answer itself, and it will behoove all investors to get to know Rick before it does. Read it, enjoy it, and profit from it—before it's too late.”William J. BernsteinAuthor, The Four Pillars of Investing“In his simply stated and entertaining book, Rick Van Ness eloquently instructs the reader on how to do bonds right – in fact, better than any single book I’ve read.”Allan S. RothAuthor: How a Second Grader Beats Wall Street“If you are a DIY investor . . . you should read this book. It will steer you clear of areas you need to avoid and into where you should be. A quick read filled with valuable info!”Robert Wasilewski“This book should be part of America’s high school curriculum.”Andrew HallamAuthor: Millionaire Teacher

    But, more often than not, there's no way to avoid it--even non-financial jobs venture into financial jargon and concepts. For those trying to get more done at the office, organize the dollars and cents in a small business or just in need of a refresher, there's no reason to turn to the average number-crunching class again. The Accounting Game presents financial information in a format so simple and so unlike a common accounting textbook, you may forget you're learning key skills that will help you get ahead! This book uses the world of a kid's lemonade stand to teach the basics of financial language and records. You'll run your own lemonade stand and make it grow by creating signs to advertise it, borrowing money from Mom, buying lemons and sugar and selling to the whole neighborhood. As you run your stand, you'll begin to understand and apply financial terms and concepts like assets, liabilities, earnings, inventory and notes payable, plus: --Know the difference between accrual vs. cash accounting methods--Create and understand an income statement and balance sheet--Track inventory using LIFO and FIFO--Create cash statements and understand cash flow and liquidity--Apply your new knowledge to real-life situations The revolutionary approach of The Accounting Game takes the typically mundane subjects of accounting and business finance and makes them something you can easily learn, understand, remember and use! The Accounting Game is produced by Educational Discoveries, the training industry's leader in accelerative learning technology. More than 70,000 peoplehave graduated from The Accounting Game, the world's most successful one-day financial seminar.

    Gould was the robber baron's robber baron, the most astute financial and business strategist of his time and also the most widely hated. In Dark Genius of Wall Street, acclaimed biographer Edward J. Renehan, Jr., combines lively anecdotes with the rich social tapestry of the Gilded Age to paint the portrait of the most talented financial buccaneer of his generation -- and one of the inventors of modern business.

    Step-by-step strategy of how to successfully organize sales, marketing and business development for a new product or company. The book offers insight into what makes some startups successful and leaves others selling off their furniture. Packed with concrete examples, the book will leave you with new skills to organize sales, marketing and your business for success.