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Recommending Books for Purchase (Bulletin 157c - June 2021): Wiley Latest Titles
China's Trump Card by Raymond Yeung
Publication Date: 2020-08-20
Description: Discover the impact of blockchain on the trade relationship between the world's two largest economies China's Trump Card: Cryptocurrency and its Game-Changing Role in Sino-US Trade grapples with the fascinating issue of the effect of digital currencies on world trade and the relationship between China and the United States in particular. Full of forward-looking insights, solid data analysis, extensive collection of relevant literature and incisive observations, author Raymond Yeung compellingly argues that cryptocurrencies will have a significant role to play in harmonizing geopolitical power struggles. Covering all the subjects required for a full understanding of the future of the Sino-US trade relationship, China's Trump Card discusses: The looming risks of de-dollarization in the wake of de-globalization The pressing need to construct a new currency standard superior to the fiat money regime in response to the global imbalance. China's diversification of its offshore portfolios to include alternative investments The implications of Facebook's plan to create a blockchain-based digital currency The fact that blockchain offers a fungible asset class option for China's reserves investment, which can be relatively independent of political considerations This book is perfect for business leaders, investors, financial analysts, policymakers, economists, fintech developers and others who have a stake in the outcome of the blossoming trade disputes between the United States and China.
Cryptocurrencies and Blockchain Technology Applications by Gulshan Shrivastava (Editor); Dac-Nhuong Le (Editor); Kavita Sharma (Editor)
Publication Date: 2020-05-23
Description: As we enter the Industrial Revolution 4.0, demands for an increasing degree of trust and privacy protection continue to be voiced. The development of blockchain technology is very important because it can help frictionless and transparent financial transactions and improve the business experience, which in turn has far-reaching effects for economic, psychological, educational and organizational improvements in the way we work, teach, learn and care for ourselves and each other. Blockchain is an eccentric technology, but at the same time, the least understood and most disruptive technology of the day. This book covers the latest technologies of cryptocurrencies and blockchain technology and their applications. This book discusses the blockchain and cryptocurrencies related issues and also explains how to provide the security differently through an algorithm, framework, approaches, techniques and mechanisms. A comprehensive understanding of what blockchain is and how it works, as well as insights into how it will affect the future of your organization and industry as a whole and how to integrate blockchain technology into your business strategy. In addition, the book explores the blockchain and its with other technologies like Internet of Things, big data and artificial intelligence, etc.
Digital Technologies and African Societies by Julien Atchoua (Editor); Jean-Jacques Bogui (Editor); Saikou Y. Diallo (Editor)
Publication Date: 2020-10-02
Description: The integration and use of information and communication technologies (ICT) in African countries is increasingly observable in various sectors of activity (banking, education, trade, etc.) despite a digital divide still relevant. ICT has become a major sector of the recent growth of a new informal economy in African cities (Chéneau-Loquay, 2008). This question has been at the heart of various international meetings. An overall positive and even utopian momentum is generally heard about the contribution of digital technologies to the development of African states. The adoption or appropriation of digital technologies by Africans is presented in many speeches by politicians or institutions involved in the field of cooperation and international development as an important issue for the development of this continent. These different considerations give rise to reflections on the following themes. - Social Media and Public Space in Africa - Challenges of the digital economy in Africa - ICT and modernization of higher education in Africa
The Digital War by Winston Ma
Publication Date: 2021-03-20
Description: What new directions in China''s digital economy mean for us all China is the largest homogenous digital market on Earth: unified by language, culture, and mobile payments. Not only a consumer market of unrivaled size, it''s also a vast and hyperactive innovation ecosystem for new technologies. And as China''s digital economy moves from a consumer-focused phase to an enterprise-oriented one, Chinese companies are rushing to capitalize on ways the newer wave of tech--the Internet of Things, AI, blockchain, cloud computing, and data analytics (iABCD)--can unlock value for their businesses from non-traditional angles. In China''s Data Economy, Winston Ma--investment professional, capital markets attorney, adjunct professor of digital economy, and bestselling author--details the profound global implications of this new direction, including how Chinese apps for services such as food delivery expand so quickly they surpass their U.S. models within a couple of years, and how the sheer scale and pace of Chinese innovation might lead to an AI arms race in which China and the U.S. vie aggressively for leadership. How China''s younger netizens participate in their evolving digital economy as consumers, creators, and entrepreneurs Why Online/Office (OMO, Online-merge-with-Offline) integration is viewed as the natural next step on from the O2O (Online-to-Offline) model used in the rest of the world The ways in which traditional Chinese industries such as retail, banking, and insurance are innovating to stay in the game What emerging markets can learn from China as they leapfrog past the personal computer age altogether, diving straight into the mobile-first economy Anyone interested in what''s next for Chinese digital powerhouses--investors, governments, entrepreneurs, international business players--will find this an essential guide to what lies ahead as China''s flexes new digital muscles to create new forms of value and challenge established tech giants across the world.
The Hunt for Unicorns by Winston Ma; Paul Downs
Publication Date: 2020-12-02
Description: Who holds the power in financial markets? For many, the answer would probably be the large investment banks, big asset managers, and hedge funds that are often in the media's spotlight. But more and more a new group of sovereign investors, which includes some of the world's largest sovereign wealth funds, government pension funds, central bank reserve funds, state-owned enterprises, and other sovereign capital-enabled entities, have emerged to become the most influential capital markets players and investment firms, with $30 trillion in assets under management ("super asset owners"). Their ample resources, preference for lower profile, passive investing, their long-time horizon and adherence to sustainability as well as their need to diversify globally and by sector have helped to transform the investment world and, in particular, private markets for digital companies. They have helped create and sustain an environment that has fostered the rise of the likes of Uber, Alibaba, Spotify and other transformative players in the digital economy, while providing their founders and business models the benefit of long-term capital. Despite this increasingly important impact, sovereign investors remain mostly unknown, often maintaining a low profile in global markets. For the same reason, they're also among the most widely misunderstood, as many view investments made by sovereign investors as purely driven by political aims. The general perception is that most sovereign investors lack transparency and have questionable governance controls, causing an investee nation to fear exposure to risks of unfair competition, data security, corruption, and non-financially or non-economically motivated investments. The current global tensions around the AI race and tech competition - and now the corona virus pandemic - have exacerbated such misperceptions, spawning controversies around sovereign investors and capital markets, governments, new technologies, cross-border investments, and related laws and regulations. As such, sovereign capital and the global digital economy are undergoing an unprecedented, contentious moment. In short, the emergence of sovereign funds symbolizes a major shift of the world's economic power. For the first time, investment funds from developing countries are playing with OECD financial giants as equals. Furthermore, their investments into high tech enable them to participate at the cutting-edge of the fourth industrial revolution, challenging traditional innovation powerhouses like the US and Germany. For all stakeholders, from tech unicorns, VC funds, asset managers, financial firms, to policymakers, law firms, academics, and the general public, this is the must-have book to get to know these new venture capitalists and "super asset owners".
Advanced Positioning, Flow, and Sentiment Analysis in Commodity Markets by Mark J. S. Keenan
Publication Date: 2019-12-20
Description: The definitive book on Positioning Analysis -- a powerful and sophisticated framework to help traders, investors and risk managers better understand commodity markets Positioning Analysis is a powerful framework to better understand commodity price dynamics, risk, and sentiment. It indicates what each category of trader is doing--what they are trading, how much they are trading and how they might behave under a variety of different circumstances. It is essential in isolating specific types of flow patterns, defining behavioral responses, measuring shifts in sentiment, and developing tools for better risk management. Advanced Positioning, Flow and Sentiment Analysis in Commodity Markets explains the fundamentals of Positioning Analysis and presents new concepts in Commodity Positioning Analytics. This invaluable guide helps readers recognize how certain types of positioning patterns can be used to develop models, indicators, and analyses that can be used to enhance performance. This updated second edition contains substantial new material, including analytics based on the analysis of flow, the decomposition of trading flows, trading activity in the Chinese commodity markets, and the inclusion of Newsflow into Positioning Analysis. Author: Mark J S Keenan, also covers the structure of positioning data, performance attribution of speculators, sentiment analysis and the identification of price risks and behavioral patterns that can be used to generate trading signals.. This must-have resource: Offers intuitive and accessible guidance to commodity market participants and risk managers at various levels and diverse areas of the market Provides a wide range of analytics that can be used directly or integrated into a variety of different commodity-related trading, investment, and risk management programs Features an online platform comprising a wide range of customizable, regularly-updated analytical tools Contains an abundance of exceptional graphics, charts, and illustrations Includes easy-to-follow instructions for building analytics. Advanced Positioning, Flow and Sentiment Analysis in Commodity Markets: Bridging Fundamental and Technical Analysis, 2nd Edition is an indispensable source of information for all types of commodity traders, investors, and speculators, as well as investors in other asset classes who look to the commodity markets for price information.
AI and the Future of Banking by Tony Boobier
Publication Date: 2020-06-04
Description: An industry-specific guide to the applications of Advanced Analytics and AI to the banking industry Artificial Intelligence (AI) technologies help organisations to get smarter and more effective over time - ultimately responding to, learning from and interacting with human voices. It is predicted that by 2025, half of all businesses will be using these intelligent, self-learning systems. Across its entire breadth and depth, the banking industry is at the forefront of investigating Advanced Analytics and AI technology for use in a broad range of applications, such as customer analytics and providing wealth advice for clients. AI and the Future of Banking provides new and established banking industry professionals with the essential information on the implications of data and analytics on their roles, responsibilities and personal career development. Unlike existing books on the subject which tend to be overly technical and complex, this accessible, reader-friendly guide is designed to be easily understood by any banking professional with limited or no IT background. Chapters focus on practical guidance on the use of analytics to improve operational effectiveness, customer retention and finance and risk management. Theory and published case studies are clearly explained, whilst considerations such as operating costs, regulation and market saturation are discussed in real-world context. Written by a recognised expert in AI and Advanced Analytics, this book: Explores the numerous applications for Advanced Analytics and AI in various areas of banking and finance Offers advice on the most effective ways to integrate AI into existing bank ecosystems Suggests alternative and complementary visions for the future of banking, addressing issues like branch transformation, new models of universal banking and 'debranding' Explains the concept of 'Open Banking,' which securely shares information without needing to reveal passwords Addresses the development of leadership relative to AI adoption in the banking industry AI and the Future of Banking is an informative and up-to-date resource for bank executives and managers, new entrants to the banking industry, financial technology and financial services practitioners and students in postgraduate finance and banking courses.
Anti-Money Laundering Transaction Monitoring Systems Implementation by Derek Chau; Maarten van Dijck Nemcsik
Publication Date: 2020-12-08
Description: Effective transaction monitoring begins with proper implementation Anti-Money Laundering Transaction Monitoring Systems Implementation provides comprehensive guidance for bank compliance and IT personnel tasked with implementing AML transaction monitoring. Written by an authority on data integration and anti-money laundering technology, this book offers both high-level discussion of transaction monitoring concepts and direct clarification of practical implementation techniques. All transaction monitoring scenarios are composed of a few common elements, and a deep understanding of these elements is the critical factor in achieving your goal; without delving into actual code, this guide provides actionable information suitable for any AML platform or solution to help you implement effective strategies and ensure regulatory compliance for your organization. Transaction monitoring is increasingly critical to banking and business operations, and the effectiveness of any given solution is directly correlated to its implementation. This book provides clear guidance on all facets of AML transaction monitoring, from conception to implementation, to help you: Detect anomalies in the data Handle known abnormal behavior Comply with regulatory requirements Monitor transactions using various techniques Regulators all over the world are requiring banks and other companies to institute automated systems that combat money laundering. With many variables at play on both the transaction side and the solution side of the equation, a solid understanding of AML technology and its implementation is the most critical factor in successful detection. Anti-Money Laundering Transaction Monitoring Systems Implementation is an invaluable resource for those tasked with putting these systems in place, providing clear discussion and practical implementation guidance.
Artificial Intelligence for Asset Management and Investment by Al Naqvi
Publication Date: 2021-01-27
Description: Make AI technology the backbone of your organization to compete in the Fintech era The rise of artificial intelligence is nothing short of a technological revolution. AI is poised to completely transform asset management and investment banking, yet its current application within the financial sector is limited and fragmented. Existing AI implementations tend to solve very narrow business issues, rather than serving as a powerful tech framework for next-generation finance. Artificial Intelligence for Asset Management and Investment provides a strategic viewpoint on how AI can be comprehensively integrated within investment finance, leading to evolved performance in compliance, management, customer service, and beyond. No other book on the market takes such a wide-ranging approach to using AI in asset management. With this guide, you'll be able to build an asset management firm from the ground up--or revolutionize your existing firm--using artificial intelligence as the cornerstone and foundation. This is a must, because AI is quickly growing to be the single competitive factor for financial firms. With better AI comes better results. If you aren't integrating AI in the strategic DNA of your firm, you're at risk of being left behind. See how artificial intelligence can form the cornerstone of an integrated, strategic asset management framework Learn how to build AI into your organization to remain competitive in the world of Fintech Go beyond siloed AI implementations to reap even greater benefits Understand and overcome the governance and leadership challenges inherent in AI strategy Until now, it has been prohibitively difficult to map the high-tech world of AI onto complex and ever-changing financial markets. Artificial Intelligence for Asset Management and Investment makes this difficulty a thing of the past, providing you with a professional and accessible framework for setting up and running artificial intelligence in your financial operations.
Asset Allocation and Private Markets by Cyril Demaria; Maurice Pedergnana; Remy He; Roger Rissi; Sarah Debrand
Publication Date: 2021-03-23
Description: The comprehensive guide to private market asset allocation Asset Allocation and Private Markets provides institutional investors, such as pension funds, insurance groups and family offices, with a single-volume authoritative resource on including private markets in strategic asset allocation. Written by four academic and practitioner specialists, this book provides the background knowledge investors need, coupled with practical advice from experts in the field. The discussion focuses on private equity, private debt and private real assets, and their correlation with other asset classes to establish optimized investment portfolios. Armed with the grounded and critical perspectives provided in this book, investors can tailor their portfolio and effectively allocate assets to traditional and private markets in their best interest. In-depth discussion of return, risks, liquidity and other factors of asset allocation takes a more practical turn with guidance on allocation construction and capital deployment, the "endowment model," and hedging -- or lack thereof. Unique in the depth and breadth of information on this increasingly attractive asset class, this book is an invaluable resource for investors seeking new strategies. Discover alternative solutions to traditional asset allocation strategies Consider attractive returns of private markets Delve into private equity, private debt and private real assets Gain expert perspectives on correlation, risk, liquidity, and portfolio construction Private markets represent a substantial proportion of global wealth. Amidst disappointing returns from stocks and bonds, investors are increasingly looking to revitalise traditional asset allocation strategies by weighting private market structures more heavily in their portfolios. Pension fund and other long-term asset managers need deeper information than is typically provided in tangential reference in broader asset allocation literature; Asset Allocation and Private Markets fills the gap, with comprehensive information and practical guidance.
Asset Liability Management Optimisation by Beata Lubinska
Publication Date: 2020-02-21
Description: An advanced method for financial institutions to optimize Asset Liability Management for maximized return and minimized risk Financial institutions today are facing daunting regulatory and economic challenges. As they manage bank regulation and competition, institutions are also optimizing their Asset Liability Management (ALM) operations. The function of the ALM unit today goes beyond risk management related to the banking book into managing regulatory capital and positioning the balance sheet to maximize profit. Asset Liability Management Optimization: A Practitioner's Guide to Balance Sheet Management and Remodelling offers a step-by-step process for modeling and reshaping a bank's balance sheet. Based on the author's extensive research, it describes how to apply a quantifiable optimization method to help maximize asset return and minimize funding cost in the banking book. ALM ranks as a key component of any financial institution's overall operating strategy. Now, financial professionals can use an advanced solution for optimizing ALM. This book takes a closer look at the evolving role of the ALM function and the target position of the banking book. It provides strategies for active management, structuring, and hedging of a bank balance sheet, while also exploring additional topics related to ALM. A description of the Funds Transfer Pricing (FTP) process related to a bank's target position Detailed examinations of interest rate risk in the banking book (IRRBB) Discussion of Basel III regulatory requirements and maturity gap analysis Overview of customer behavior, along with its impact on interest rate and liquidity risk Practical spreadsheet models (NII sensitivity and EVE volatility IRRBB model, simplified optimization model for minimization of average funding cost for a bank and an example of behavioral model for Non-Maturing Deposits) Explorations of model risk, sensitivity analysis, and case studies The optimization techniques found in Asset Liability Management Optimization can prove vital to financial professionals who are tasked with maximizing asset return and reducing funding costs as a critical part of business objectives.
Commodity Derivatives by Neil C. Schofield
Publication Date: 2021-05-07
Description: Commodity Derivatives In the newly revised Second Edition of Commodity Derivatives: Markets and Applications, expert trading educator and author Neil Schofield delivers a comprehensive overview of a wide variety of commodities and derivatives. Beginning with discussions of commodity markets generally before moving on to derivative valuation and risk management, the author then dives into individual commodity markets, like gold, base metals, crude oil, natural gas, electricity, and more. Schofield relies on his extensive experience at Barclays Investment Bank to offer readers detailed examinations of commodity finance and the use of commodities within a wider investment portfolio. The second edition includes discussions of critical new topics like dual curve swap valuation, option valuation within a negative price environment using the Bachelier model, volatility skews, smiles, smirks, term structures for major commodities, and more. You'll find case studies on corporate failures linked to improper commodity risk management, as well as explorations of issues like the impact of growing interest in electric vehicles on commodity markets. The text of the original edition has been updated and expanded and new example transactions are included to help the reader understand the concepts discussed within. Each chapter follows a uniform structure, with typical demand and supply patterns following a non-technical description of the commodity at issue. Discussions of the physical markets in each commodity and the main exchange-traded and over-the-counter products conclude each chapter. Perfect for commodity and derivatives traders, analysts, and risk managers, the Second Edition of Commodity Derivatives: Markets and Applications will also earn a place in the libraries of students and academics studying finance and the graduate intake in financial institutions. A one-stop resource for the main commodity markets and their associated derivatives Finance professionals seeking a single volume that fully describes the major commodity markets and their derivatives will find everything they need in the latest edition of Commodity Derivatives: Markets and Applications. Former Global Head of Financial Markets Training at Barclays Investment Bank Neil Schofield delivers a rigorous and authoritative reference on a crucial, but often overlooked, subject. Completely revised and greatly expanded, the Second Edition of this essential text offers finance professionals and students coverage on every major class of commodities, including gold, steel, ethanol, crude oil, and more. You'll also find discussions of derivative valuation, risk management, commodity finance, and the use of commodities within an investment portfolio. Non-technical descriptions of major commodity classes ensure the material is accessible to everyone while still in-depth and rigorous enough to deliver key information on an area central to global finance. Ideal for students and academics in finance, Commodity Derivatives is an indispensable guide for commodity and derivatives traders, analysts, and risk managers who seek a one-volume resource on foundational and advanced topics in commodity markets and their associated derivatives.
Emotions and Values in Equity Crowdfunding Investment Choices 1 by Christian Goglin
Publication Date: 2020-11-18
Description: Equity crowdfunding is a new way for seed stage start-ups to generate initial capital and, as such, raises questions around the choices made by investors within this area. Understanding it is important for investor protection, as investors are generally unaware of the factors that can influence their decisions. However, investing in equity crowdfunding places the investor in a unique decision-making framework, in which resources such as images, videos and storytelling are all mobilized by entrepreneurs and platforms as tools of persuasion. This context thus seems to favor more holistic and emotional decision-making, rather than a process that is rational and analytical. This first volume centers on the emotional and axiological determinants of choice. A transdisciplinary theoretical analysis is carried out, combining different fields within the social sciences, primarily finance, marketing and psychology. This state of the art leads to the emergence of an original theoretical framework for understanding investment choices in equity crowdfunding.
Introduction to Private Equity, Debt and Real Assets by Cyril Demaria
Publication Date: 2020-06-29
Description: Fully revised and updated to reflect changes in the private equity sector Building on and refining the content of previous editions, Introduction to Private Equity, Debt and Real Assets, Third Edition adopts the same logical, systematic, factual and long-term perspective on private markets (private equity, private debt and private real assets) combining academic rigour with extensive practical experience. The content has been fully revised to reflect developments and innovations in private markets, exploring new strategies, changes in structuring and the drive of new regulations. New sections have been added, covering fund raising and fund analysis, portfolio construction and risk measurement, as well as liquidity and start-up analysis. In addition, private debt and private real assets are given greater focus, with two new chapters analysing the current state of these evolving sectors. * Reflects the dramatic changes that have affected the private market industry, which is evolving rapidly, internationalizing and maturing fast * Provides a clear, synthetic and critical perspective of the industry from a professional who has worked at many levels within the industry * Approaches the private markets sector top-down, to provide a sense of its evolution and how the current situation has been built * Details the interrelations between investors, funds, fund managers and entrepreneurs This book provides a balanced perspective on the corporate governance challenges affecting the industry and draws perspectives on the evolution of the sector.
Liability-Driven Investment by Dan Tammas-Hastings
Publication Date: 2021-03-02
Description: Understand the investment template that dominates the pension industry Liability-Driven Investment is the practitioner's guide to this increasingly popular investment template. Already the dominant framework for pension schemes in Europe and the UK, the LDI market is expected to grow significantly with the shift from Defined Benefit to Defined Contribution, and then into Digital Asset Management -- or Robo-Advice. With an aging population and significant under-saving globally, more and more finance professionals will need to know how to work within and around the LDI framework; this book provides clear explanations for the framework's usefulness and growing popularity to help practitioners find their bearings in and around the LDI space. The ultimate goal of LDI is to move beyond simple asset value maximisation and ensure that investors have sufficient funds to pay liabilities. This informative guide digs into that basic premise to show the various mechanisms, guidelines and practices that make up the framework's "working parts." Discover the optimal investment strategies in multiple assets classes Understand the key characteristics of the instruments used, including bonds, interest rate derivatives, and inflation linked products Learn why pension companies and individual investors are moving toward LDI Explore the ways in which the explosive growth of Robo-Advice will change retail investment Finance professionals have long been accustomed to shifting landscapes -- it is taken as a given that prevailing thought and attendant practices will change over time -- but the rapid expansion of LDI has taken many by surprise. Having already been established as the dominant framework for pensions, it is clear that the emphasis on LDI will only continue to grow. Liability-Driven Investment tells you what you need to know in order to work effectively with LDI.
Market Momentum by Stephen Satchell; Andrew Grant
Publication Date: 2021-04-08
Description: A one-of-a-kind reference guide covering the behavioral and statistical explanations for market momentum and the implementation of momentum trading strategies Market Momentum: Theory and Practice is a thorough, how-to reference guide for a full range of financial professionals and students. It examines the behavioral and statistical causes of market momentum while also exploring the practical side of implementing related strategies. The phenomenon of momentum in finance occurs when past high returns are followed by subsequent high returns, and past low returns are followed by subsequent low returns. Market Momentum provides a detailed introduction to the financial topic, while examining existing literature. Recent academic and practitioner research is included, offering a more up-to-date perspective. What type of book is Market Momentum and how does it serve a range of readers' interests and needs? A holistic market momentum guide for industry professionals, asset managers, risk managers, firm managers, plus hedge fund and commodity trading advisors Advanced text to help graduate students in finance, economics, and mathematics further develop their funds management skills Useful resource for financial practitioners who want to implement momentum trading strategies Reference book providing behavioral and statistical explanations for market momentum Due to claims that the phenomenon of momentum goes against the Efficient Markets Hypothesis, behavioral economists have studied the topic in-depth. However, many books published on the subject are written to provide advice on how to make money. In contrast, Market Momentum offers a comprehensive approach to the topic, which makes it a valuable resource for both investment professionals and higher-level finance students. The contributors address momentum theory and practice, while also offering trading strategies that practitioners can study.
Performance of Valuation Methods in Financial Transactions by David Heller (Editor)
Publication Date: 2021-03-26
Description: MODERN FINANCE, MANAGEMENT INNOVATION & ECONOMIC GROWTH SET Coordinated by Faten Ben Bouheni Financial operations depend on potential value creation, the nature of the shareholder base, the level of development of the company and its growth prospects. They result from different commercial and financial strategies that must integrate the interest of the capital holders, the influence and strategy of the group in the initiative and the structure of the offer. This book examines how, in practice, a companyÂs capital is structured, taking into account the interests of various stakeholders. The performance of valuation methods, which serve investors in their decision-making and financial arrangements, is developed in detail. Depending on the contexts present in the control market, the methods of stock market and transactional comparables, discounted cash flows and the patrimonial approach, will be favored to assess the value of a companyÂs shares. Performance of Valuation Methods in Financial Transactions is an in-depth analysis of equity transactions and is aimed at students and corporate finance professionals.
Perturbation Methods in Credit Derivatives by Colin Turfus
Publication Date: 2020-12-07
Description: Stress-test financial models and price credit instruments with confidence and efficiency using the perturbation approach taught in this expert volume Perturbation Methods in Credit Derivatives: Strategies for Efficient Risk Management offers an incisive examination of a new approach to pricing credit-contingent financial instruments. Author and experienced financial engineer Dr. Colin Turfus has created an approach that allows model validators to perform rapid benchmarking of risk and pricing models while making the most efficient use possible of computing resources. The book provides innumerable benefits to a wide range of quantitative financial experts attempting to comply with increasingly burdensome regulatory stress-testing requirements, including: Replacing time-consuming Monte Carlo simulations with faster, simpler pricing algorithms for front-office quants Allowing CVA quants to quantify the impact of counterparty risk, including wrong-way correlation risk, more efficiently Developing more efficient algorithms for generating stress scenarios for market risk quants Obtaining more intuitive analytic pricing formulae which offer a clearer intuition of the important relationships among market parameters, modelling assumptions and trade/portfolio characteristics for traders The methods comprehensively taught in Perturbation Methods in Credit Derivatives also apply to CVA/DVA calculations and contingent credit default swap pricing.
Rattiner's Secrets of Financial Planning by Jeffrey H. Rattiner
Publication Date: 2020-10-06
Description: Learn what it takes to be a success from the 'all-stars' of the financial planning and advisory profession Financial planning involves everything from determining the client's financial position, cash flow, and investment strategies, to income tax planning, risk management, insurance, and retirement and estate planning. Financial planners and advisors are responsible for recommendations and decisions that help people define and achieve their financial goals. Rattiner's Secrets of Financial Planning gives industry professionals the opportunity to hear and learn from 'the best of the best' in the field. Author Jeffrey H. Rattiner, a respected leader in Certified Financial Planning (CFP), shares real-world insights and expert advice from hundreds of top-level advisors in the financial planning industry. Readers gain firsthand knowledge of the challenges these successful planners have faced and how they continue to build their practices and reap success in a dynamic financial environment. This comprehensive resource includes templates based on what the best CFPs use in their practices for work programs, data quantification reports, asset allocation model portfolios, pro forma statements, and checklists for each technical financial planning discipline. Designed specifically for industry professionals, this in-depth book: Offers CFPs and financial advisors proven advice and practical methods to take their practice to the next level Includes contributions from and interviews with the leading advisors in the profession Provides templates taken from the practices of high-level financial advisors Explains the key ingredients for building a superior financial planning practice Helps develop successful financial planners and strengthen profitable practices Rattiner's Secrets of Financial Planning: From Running Your Practice to Optimizing Your Client's Experience is an important resource for CFPs, CPAs, financial advisors, financial planners, and high-level corporate executives working in the financial services industry.
Social Security and Medicare by Theodore J. Sarenski
Publication Date: 2020-06-19
Description: The long-term future of the American Social Security system which provides retirement, disability, and survivor benefits to millions, is uncertain. This is triggering big concerns for many workers who are paying into the system and need to make decisions about their retirement. This book features real-world situations around Social Security and Medicare to help financial professionals provide better advise to their clients on their personal financial plans. Key topics include: What Medicare will and will not do Managing Medicare gaps Analyzing the wide menu of Social Security benefits Social Security benefits for workers and families: retirement, survivor, disability, and death benefit Tax impact of Social Security premiums and benefits Impact of the 3.8 percent Medicare surtax on investment income Recent changes to the Medicare law
Structured Finance by Charles-Henri Larreur
Publication Date: 2021-03-03
Description: Comprehensive coverage of all major structured finance transactions Structured Finance is a comprehensive introduction to non-recourse financing techniques and asset-based lending. It provides a detailed overview of leveraged buyouts, project finance, asset finance and securitisation. Through thirteen case studies and more than 500 examples of companies, the book offers an in-depth analysis of the topic. It also provides a historical perspective of these structures, revealing how and why they were initially created. Instruments within each type of transaction are examined in detail, including Credit Default Swaps and Credit Linked Notes. A presentation of the Basel Accords offers the necessary background to understand the regulatory context in which these financings operate. With this book, readers will be able to: Delve into the main structured finance techniques to understand their components, mechanisms and how they compare Understand how structured finance came to be, and why it continues to be successful in the modern markets Learn the characteristics of financial instruments found in various structured transactions Explore the global context of structured finance, including the regulatory framework under which it operates Structured Finance provides foundational knowledge and global perspective to facilitate a comprehensive understanding of this critical aspect of modern finance. It is a must-read for undergraduate and MBA students and finance professionals alike.
Timing Solutions for Swing Traders by Robert M. Lee; Peter Tryde
Publication Date: 2021-05-25
Description: A unique new approach to trading based on financial analysis and financial astrology Timing Solutions for Swing Traders: Successful Trading Using Technical Analysis and Financial Astrology is a remarkable new book that introduces a revolutionary approach to non-day trading that combines the four basic dimensions of trend analysis--price patterns, volume, price momentum, and price moving averages--with a little financial astrology. Focusing on the essentials of technical analysis, the book is filled with examples of reliable indicators and formulas that traders can use to help develop their own styles of trading, specially tailored to their individual needs and interests. Filled with real-life market examples to help you understand how to use the matrix of moving averages, how to apply different sets of time frame moving averages to form a trading decision, and how to determine the intermediate state of the market using the Queuing Theory (QMAC)--which dissects the interplay of long-term moving averages and helps anticipate major support and resistance levels--this book is packed with the information you need to maximize your trading potential. A dedicated trading guide for non-day traders Incorporates examples and formulas to bring ideas to life Presents an innovative new approach to trading that draws on the four core dimensions--price patterns, volume, price momentum, and price moving averages--for analyzing trends Innovative and practical, Timing Solutions for Swing Traders is a hands-on guide to applying a remarkable new approach to trading.
The AI Book by Susanne Chishti (Editor-In-Chief); Ivana Bartoletti (Editor); Anne Leslie (Editor); ShÃ¢n M. Millie (Editor)
Publication Date: 2021-05-20
Description: Written by prominent thought leaders in the global fintech space, The AI Book aggregates diverse expertise into a single, informative volume and explains what artifical intelligence really means and how it can be used across financial services today. Key industry developments are explained in detail, and critical insights from cutting-edge practitioners offer first-hand information and lessons learned. Coverage includes: · Understanding the AI Portfolio: from machine learning to chatbots, to natural language processing (NLP); a deep dive into the Machine Intelligence Landscape; essentials on core technologies, rethinking enterprise, rethinking industries, rethinking humans; quantum computing and next-generation AI · AI experimentation and embedded usage, and the change in business model, value proposition, organisation, customer and co-worker experiences in today's Financial Services Industry · The future state of financial services and capital markets - what's next for the real-world implementation of AITech? · The innovating customer - users are not waiting for the financial services industry to work out how AI can re-shape their sector, profitability and competitiveness · Boardroom issues created and magnified by AI trends, including conduct, regulation & oversight in an algo-driven world, cybersecurity, diversity & inclusion, data privacy, the 'unbundled corporation' & the future of work, social responsibility, sustainability, and the new leadership imperatives · Ethical considerations of deploying Al solutions and why explainable Al is so important
The Business of Venture Capital by Mahendra Ramsinghani
Publication Date: 2021-01-13
Description: The new edition of the definitive guide for venture capital practitioners--covers the entire process of venture firm formation & management, fund-raising, portfolio construction, value creation, and exit strategies Since its initial publication, The Business of Venture Capital has been hailed as the definitive, most comprehensive book on the subject. Now in its third edition, this market-leading text explains the multiple facets of the business of venture capital, from raising venture funds, to structuring investments, to generating consistent returns, to evaluating exit strategies. Author and VC Mahendra Ramsinghani who has invested in startups and venture funds for over a decade, offers best practices from experts on the front lines of this business. This fully-updated edition includes fresh perspectives on the Softbank effect, career paths for young professionals, case studies and cultural disasters, investment models, epic failures, and more. Readers are guided through each stage of the VC process, supported by a companion website containing tools such as the LP-GP Fund Due Diligence Checklist, the Investment Due Diligence Checklist, an Investment Summary format, and links to white papers and other industry guidelines. Designed for experienced practitioners, angels, devils, and novices alike, this valuable resource: Identifies the key attributes of a VC professional and the arc of an investor's career Covers the art of raising a venture fund, identifying anchor investors, fund due diligence, negotiating fund investment terms with limited partners, and more Examines the distinct aspects of portfolio construction and value creation Balances technical analyses and real-world insights Features interviews, personal stories, anecdotes, and wisdom from leading venture capitalists The Business of Venture Capital, Third Edition is a must-read book for anyone seeking to raise a venture fund or pursue a career in venture capital, as well as practicing venture capitalists, angel investors or devils alike, limited partners, attorneys, start-up entrepreneurs, and MBA students.
The Complete Family Office Handbook by Kirby Rosplock
Publication Date: 2020-11-18
Description: Discover new insights on how to setup, manage, and advise wealthy families and their family offices The Complete Family Office: A Guide for Affluent Families and the Advisors Who Serve Them, 2nd Edition represents the newest update to an essential series. This book prepares the members of wealthy families to collectively manage, sustain, and grow their wealth across multiple generations. It also assists professionals who advise families to better serve their needs. This book teaches those who advise family offices and wealthy families on: · How to setup, structure, and advise a family office · Current compliance, fiduciary and risk management practices for a family office · Forward-thinking investment management, estate planning, and private trust company considerations · Fresh insights on philanthropy, legacy, and impact investing · Best practices to managing family wealth education and preparing next generation owners · New insights on family governance, strategic planning, and succession · Methods to create a family constitution, mission, and vision for families and their family offices. The Complete Family Office Handbook provides the most comprehensive, current research, practical guidance, and approaches from leading family offices from around the globe and illustrates, by way of practical case studies and examples, how families can effectively manage their wealth for the long term.
The Handbook of Banking Technology by Lucian Morris; Tim Walker
Publication Date: 2021-02-27
Description: Competitive advantage in banking comes from effective use of technology The Handbook of Banking Technology provides a blueprint for the future of banking, with deep insight into the technologies at the heart of the industry. The rapid evolution of IT brings continual change and demand for investment -- yet keeping pace with these changes has become an essential part of doing business. This book describes how banks can harness the power of current and upcoming technology to add business value and gain a competitive advantage; you'll learn how banks are using technology to drive business today, and which emerging trends are likely to drive the evolution of banking over the next decade. Regulation is playing an ever increasing role in banking and the impact of regulatory change on technology and the management of it are discussed -- while mandatory changes put pressure on many of our high street banking brands, their ability to adapt and utilise technology will have a fundamental impact on their success in the rapidly changing marketplace. Technology costs can amount to 15 per cent or more of operational costs and bank leaders need to be able to make informed decisions about technology investments in light of the potential benefits. This book explores the depth and breadth of banking technology to help decision makers stay up to date and drive better business. Assess your current technology against the new banking paradigms Procure the systems needed to protect the bottom line Implement newer technology more efficiently and effectively Ensure compliance and drive value with appropriate technology management Technological change is driven by mass adoption of new channels, innovation from new entrants, and by banks themselves as a means of increasing revenue and reducing costs. The Handbook of Banking Technology offers a comprehensive look at the role of technology in banking, and the impact it will have in the coming years.
The PAYTECH Book by Susanne Chishti (Editor); Tony Craddock (Editor); Robert Courtneidge (Editor); Markos Zachariadis (Editor)
Publication Date: 2019-12-23
Description: The only globally-crowdsourced book on the future of payments ("PayTech"), offering comprehensive understanding of a rapidly evolving industry at the centre of global commerce The movement of money between individuals, organisations and governments is crucial to the world economy. The payments industry has undergone immense transformation - new regulations, technologies and consumer demands have prompted significant changes to the tools, products and use cases in payments, as well as presented lucrative opportunities for entrepreneurs and FinTech professionals. As payment technologies become faster and more efficient, companies and investors are increasingly favouring PayTech innovation due to better customer experience, increased revenues and manageable risks. The PAYTECH Book brings together a diverse collection of industry experts to provide entrepreneurs, financial services professionals and investors with the answers they need to capitalise on the highly profitable PayTech market. Written by leaders in the global FinTech and payment sectors, this informative volume explains key industry developments and presents valuable first-hand insights from prominent industry practitioners. Contributors include advisors and consultants to the payments and financial services industry, entrepreneurs and business owners utilising cutting-edge PayTech capabilities, academic researchers exploring the social-political-economic impact of PayTech and many others. Detailed chapters cover essential topics such as cybersecurity, regulation and compliance, wholesale payments and how payment systems currently work and how PayTech can improve them. This book: Defines PayTech and identifies its key players Discusses how PayTech can transform developed markets and accelerate growth in emerging economies Describes how PayTech fits into the larger FinTech ecosystem Explores the future of PayTech and its potential as an agent of social change and financial inclusion Provides diverse perspectives on investment in PayTech and what consolidation and expansion will look like The PAYTECH Book: The Payment Technology Handbook for Investors, Entrepreneurs and FinTech Visionaries is an indispensable source of information for FinTech investors and entrepreneurs, managers from payments companies and financial services firms and executives responsible for payments in government, corporations, public sector organisations, retailers and users of payments.
The Successful Trader's Guide to Money Management by Andrea Unger
Publication Date: 2021-05-07
Description: Discover how to maximize the effectiveness of your trading techniques by applying the right money management techniques Money management is a central element of trading the financial markets, especially in uncertain times. Yet investors often misinterpret the central concepts of money management. To manage risk and obtain optimal rewards from your trades, you will benefit from a deeper understanding of how the professionals manage money. The Successful Trader's Guide to Money Management describes the operating methods that seasoned investors use. With this book, you'll avoid the common mistake of focusing too much on entry levels and stop-losses, and you'll learn to consider the impact of proper money management on your final portfolio results. Successful traders focus on risk management, avoiding opening positions that are too large with respect to the total capital they have available. Packed with practical examples and with special focus on money management or position-sizing, The Successful Trader's Guide to Money Management offers a comprehensive coverage of widely practiced risk management models, examining their strengths and weaknesses. You will learn how to use the most effective operating models, including the Fixed Fractional, Fixed Ratio, and Percent Volatility models. This book also provides a thorough analysis of portfolio management models. These essential tips will nudge you toward a more winning position as you enter your next trades. Learn how the professionals manage money and avoid common trading mistakes Design a trading system that minimizes risk and maximizes reward through correct position sizing Understand the most important money and portfolio management models, including Fixed Ratio, Percent Volatility, Fixed Fractional, and more Equip yourself to trade smarter, individually or with a broker, on equity, derivatives and Forex markets For individual and institutional investors alike, this book is a ticket to more solid trading strategy, especially in uncertain times.
The Universal Tactics of Successful Trend Trading by Brent Penfold
Publication Date: 2020-09-11
Description: Get a flying headstart on trend trading with this comprehensive how-to guide The Universal Tactics of Successful Trend Trading: Finding Opportunity in Uncertainty delivers powerful and practical advice for the serious trend trader. Using the principles identified in The Universal Principles of Successful Trading, author Brent Penfold shows curious investors how to become a long-term winner with tried-and-true trend trading methodologies. The book includes in-depth and comprehensive treatments of topics like: · Why trend trading is so appealing · Popular and effective trend trading strategies · How to measure risk · Common trend trading mistakes and how to avoid them Investors and readers will also discover the importance of risk, and how to judge outcomes and strategies on a risk-adjusted basis. Perfect for anyone interested in trading successfully, The Universal Tactics of Successful Trend Trading is a key strategy guide that belongs on the shelf of anyone involved in the buying and selling of financial securities.
The Value Investors by Ronald Chan; Bruce C. Greenwald (Foreword by)
Publication Date: 2020-12-03
Description: The latest edition of the popular collection of in-depth portraits of extraordinary value investors, featuring new profiles and updates The second edition of The Value Investors presents a collection of investing legend profiles from around the world. Chapters explore the investors' backgrounds, cultures, and personal stories, and reveal how life experiences have shaped their investment strategies and mindsets. This fascinating book shows you that value investing is a dynamic, constantly-changing strategy which, when properly implemented, can provide significant, sustainable benefits. Although the investors profiled come from a diverse range of geographic regions and socio-economic, cultural, and educational backgrounds, they share similar personality traits, temperaments, and investment philosophes. Thoroughly revised and expanded, the book provides relevant updates on the professional and personal experiences of the investors since the first edition's publication. Complementing the original profiles are several new chapters featuring established value investors including Howard Marks, as well as rising personalities and fund managers such as Álvaro Guzmán de Lázaro and Fernando Bernad Marrase. Author Ronald Chan, founder of Hong Kong-based investment management Chartwell Capital Limited, highlights how and why the value investors have consistently beaten the stock market through the years. This book: Covers multiple generations, geographies, and value investing styles Presents updated profiles of notable value investors such as Walter Schloss, Irving Kahn and Thomas Kahn, Jean-Marie Eveillard, Mark Mobius, and Teng Ngiek Lian Profiles international fund and asset managers from the North America, Europe and Asia Includes a chapter on the making of a successful value investor The Value Investors: Lessons from the World's Top Fund Managers, 2nd Edition is a must-read for investors looking to diversify their portfolios across different asset classes or geographic areas, finance professionals and students, and general readers with interest in value investing.
The XVA Challenge by Jon Gregory
Publication Date: 2020-06-04
Description: A thoroughly updated and expanded edition of the xVA challenge The period since the global financial crisis has seen a major re-appraisal of derivatives valuation, generally expressed in the form of valuation adjustments ('xVAs'). The quantification of xVA is now seen as fundamental to derivatives pricing and valuation. The xVA topic has been complicated and further broadened by accounting standards and regulation. All users of derivatives need to have a good understanding of the implications of xVA. The pricing and valuation of the different xVA terms has become a much studied topic and many aspects are in constant debate both in industry and academia. Discussing counterparty credit risk in detail, including the many risk mitigants, and how this leads to the different xVA terms Explains why banks have undertaken a dramatic reappraisal of the assumptions they make when pricing, valuing and managing derivatives Covers what the industry generally means by xVA and how it is used by banks, financial institutions and end-users of derivatives Explains all of the underlying regulatory capital (e.g. SA-CCR, SA-CVA) and liquidity requirements (NSFR and LCR) and their impact on xVA Underscores why banks have realised the significant impact that funding costs, collateral effects and capital charges have on valuation Explains how the evolution of accounting standards to cover CVA, DVA, FVA and potentially other valuation adjustments Explains all of the valuation adjustments - CVA, DVA, FVA, ColVA, MVA and KVA - in detail and how they fit together Covers quantification of xVA terms by discussing modelling and implementation aspects. Taking into account the nature of the underlying market dynamics and new regulatory environment, this book brings readers up to speed on the latest developments on the topic.
Trading Fixed Income and FX in Emerging Markets by Dirk Willer; Ram Bala Chandran; Kenneth Lam
Publication Date: 2020-08-31
Description: A practitioner's guide to finding alpha in fixed income trading in emerging markets Emerging fixed income markets are both large and fast growing. China, currently the second largest economy in the world, is predicted to overtake the United States by 2030. Chinese fixed income markets are worth more than $11 trillion USD and are being added to global fixed income indices starting in 2019. Access for foreigners to the Indian fixed income market, valued at almost 1trn USD, is also becoming easier - a trend repeated in emerging markets around the world. The move to include large Emerging Market (EM) fixed income markets into non-EM benchmarks requires non-EM specialists to understand EM fixed income. Trading Fixed Income in Emerging Markets examines the principle drivers for EM fixed income investing. This timely guide suggests a more systematic approach to EM fixed income trading with a focus on practical trading rules on how to generate alpha, assisting EM practitioners to limit market-share losses to passive investment vehicles. The definitive text on trading EM fixed income, this book is heavily data-driven - every trading rule is thoroughly back-tested over the last 10+ years. Case studies help readers identify and benefit from market regularities, while discussions of the business cycle and typical EM events inform and optimise trading strategies. Topics include portfolio construction, how to apply ESG principles to EM and the future of EM investing in the realm of Big Data and machine learning. Written by practitioners for practitioners, this book: Provides effective, immediately-accessible tools Covers all three fixed income asset classes: EMFX, EM local rates and EM credit Thoroughly analyses the impact of the global macro cycle on EM investing Examines the influence of the financial rise of China and its fixed income markets Includes case studies of trades that illustrate how markets typically behave in certain situations The first book of its kind, Trading Fixed Income in Emerging Markets: A Practitioner's Guide is an indispensable resource for EM fund managers, analysts and strategists, sell-side professionals in EM and non-EM specialists considering activity in emerging markets.