Wiley Finance
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Opportunities in Emerging Markets
Investing in the Economies of Tomorrow
by Gordian Gaeta
Part of the Wiley Finance series
The practical guide to investing in emerging markets
Though potentially risky, investing in emerging markets can offer extremely attractive returns. Opportunities in Emerging Markets offers practical advice for investors based on the real-life experiences, both positive and negative, of practitioners, pioneer investors, and local heroes with experience in frontier markets. Exploring how every developing market has its own unique regional cultures and social structures that change the way investors invest, and must be understood in order to make wise investments, the book combines standard approaches to investing with the exigencies of frontier markets to create an invaluable framework for success.
A collection of useful ideas that investors-institutions, general partners, limited partners, or shareholders-can draw upon when investing money in emerging markets, the book includes essential information on one of the most attractive opportunities for beating traditional markets and investments. If access, downside, and predictability can be managed, there's a great deal of money to be made in emerging markets, and this book shows how. Both investors and investment managers need to understand fundamental success factors, real framework conditions, and hidden pitfall and in “Opportunities in Emerging Markets”, author Gordian Gaeta analyses these intricacies in depth.
• Gives investors of all kinds the information they need to succeed in emerging markets
• Incorporates real life experiences-both good and bad-to help readers avoid common mistakes and maximize their returns
• Includes interviews with Mark Mobius, Jim Rogers, Marc Faber, and other leading names in the emerging markets sector
For those traders brave enough to engage in high-risk/high-return investing, “Opportunities in Emerging Markets” is an excellent overview of the world's toughest frontier markets and how to conquer them. Featuring interviews with some of the top investors in the field, this is the definitive guide to the perils and pitfalls of investing in these highly volatile markets.
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The Future of Finance
How Private Equity and Venture Capital Will Shape the Global Economy
by Dan Schwartz
Part of the Wiley Finance series
TABLE OF CONTENTS
Foreword (David Rubenstein).
Acknowledgments.
CHAPTER 1 Tomorrow Will Be Different than Today.
CHAPTER 2 Private Equity and Venture Capital: A Primer.
CHAPTER 3 2009: A Very Challenging Year.
CHAPTER 4 2010: Private Equity and Venture League Tables and Niches.
CHAPTER 5 Private Equity and Venture Capital in Markets Around the World.
CHAPTER 6 Industry Issues.
CHAPTER 7 The Next Decade: A Future Scape.
CHAPTER 8 Toward a New "Corporate Norm".
Notes.
The Class of 2010 (People Interviewed in the Book).
Index.
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Micro Markets Workbook
A Market Structure Approach to Microeconomic Analysis
by Robert A. Schwartz
Part of the Wiley Finance series
A companion Workbook to the text Micro Markets.
Understanding how microeconomics affects the marketplace is essential for any investment professional, however most books simply address microeconomics in its pure theory-based form. Micro Markets helped bridge the gap between theory and practice by defining microeconomics in terms of real-world, market applications.
Now, the Micro Markets Workbook offers you a chance to review the information found in the actual book and solidify your understanding of this discipline. In this study guide, microeconomic concepts are fully reviewed, along with how all of its relevant theory is applicable to today's markets.
• Helps you learn to perform dynamic microeconomic analysis in practice
• Tests your knowledge of the information addressed in Micro Markets, before you put it to work in real world situations
• Provides solutions to each chapter of the main book's practice problems
If you want to gain a firm understanding of the information outlined in Micro Markets, the lessons within this Workbook can help you achieve this goal.
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Transforming Financial Institutions
Value Creation through Technology Innovation and Operational Change
by Joerg Ruetschi
Part of the Wiley Finance series
Transform your financial organisation's formula for value creation with this insightful and strategic approach
In Transforming Financial Institutions through Technology Innovation and Operational Change, visionary turnaround leader Joerg Ruetschi delivers a practical and globally relevant methodology and framework for value creation at financial institutions. The author demonstrates how financial organisations can combine finance strategy with asset-liability and technology management to differentiate their services and gain competitive advantage in a ferocious industry.
In addition to exploring the four critical areas of strategic and competitive transformation - financial analysis, valuation, modeling, and stress - the book includes:
• Explanations of how to apply the managerial fundamentals discussed in the book in the real world, with descriptions of the principles for reorganization, wind-down and overall value creation
• An analysis of the four key emerging technologies in the financial industry: AI, blockchain, software, and infrastructure solutions, and their transformational impact
• Real-world case studies and examples on how financial institutions can be repositioned and rebuilt on a path of profitability
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Performance Dashboards and Analysis for Value Creation
by Jack Alexander
Part of the Wiley Finance series
No matter what industry your company competes in, you need to have a firm understanding of how to create a direct link between shareholder value and critical business processes in order to improve performance and achieve long-term value. “Performance Dashboards and Analysis for Value Creation” contains the information and expertise you need to do just this, and much more.
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Impact Investment
A Practical Guide to Investment Process and Social Impact Analysis
by Keith A. Allman
Part of the Wiley Finance series
Apply a rigorous investment process and integrate social impact analyses to successfully select and invest in social impact investments.
Impact Investment: A Practical Guide to Investment Process and Social Impact Analysis is a must-read guide for investors and wealth managers entering the social finance investment space known as "impact investing." This book walks readers through the demanding task of properly executing an impact investment strategy, providing solutions to some of the most vexing challenges that arise when investing for both financial return and social impact. Readers will learn how impact investing is different from other strategies, how the organization's mission affects investment decisions and structures, and what to look for in an organization prior to investing. A running example of a village distribution company illustrates the methods and concepts in action, and a full-fledged case study utilizing downloadable professional level analytical tools consolidates all examples into a real-world setting.
Impact investing is generating significant momentum, but many individuals operating in this space come from alternative backgrounds and lack the knowledge to form a rigorous investment process. Disparate funding sources, immature markets, variations in fund economics, and the need to generate and report social impact all complicate the industry even further, creating a barrier for curious investors. This book is a guide to applying standard investment processes and social impact analyses to impact investing, helping readers:
• Adjust standard analysis techniques to suit the particularities of impact investing
• Discover how social mission influences the entire investment from entry to exit
• Plan and execute a robust custom impact investment strategy
• Understand social impact entities and the management of impact investments
Investing with the goal of social impact doesn't remove the need for rigorous investment techniques and diligent processes. Impact Investment: A Practical Guide to Investment Process and Social Impact Analysis is a guide to putting it all together, for a more targeted approach to impact investing.
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M&A Disputes
A Professional Guide to Accounting Arbitrations
by A. Vincent Biemans
Part of the Wiley Finance series
Nanoscale pattern transfer technology using molds is a rapidly advancing area and one that has seen much recent attention due to its potential for use in nanotechnology industries and applications. However, because of these rapid advances, it can be difficult to keep up with the technological trends and the latest cutting-edge methods. In order to fully understand these pioneering technologies, a comprehensive understanding of the basic science and an overview of the techniques are required.
“Nanoimprint Technology: Nanotransfer for Thermoplastic and Photocurable Polymers” covers the latest nanotransfer science based on polymer behaviour. Polymer fluid dynamics are described in detail, and injection moulding, nanoimprint lithography and micro contact printing are also discussed. Cutting-edge nanotransfer technologies and applications are also considered and future trends in industry are examined.
Key features:
• Covers the fundamentals of nanoimprint technology
• Presents cutting-edge techniques and applications
• Provides industrial examples and describes the mold fabrication process
• Considers nanotransfer of thermoplastics by simulation
• Describes the design and evaluation of UV curable polymer
“Nanoimprint Technology: Nanotransfer for Thermoplastic and Photocurable Polymers” is a comprehensive reference for industry engineers as well as graduate and undergraduate students and is a useful source of information for anyone looking to improve their understanding of nanotransfer mechanisms and methods.
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Succession Planning for Financial Advisors
Building an Enduring Business
by David Grau Sr.
Part of the Wiley Finance series
This book is going to challenge you and everything you think you know about succession planning.
For independent advisors, succession planning is quickly becoming the cornerstone to a strategic growth strategy designed to perpetuate their business and their income streams beyond their own lifetime, while providing a multi-generational service platform that attracts and rewards younger advisors. This makes succession planning one of the most, if not the most, important practice management tools in this industry today.
As an independent financial advisor, now is the time to address the question of what will happen to your practice and your clients after you "exit the building." In most cases, the answers are right in front of you. Thankfully, “Succession Planning for Financial Advisors: Building an Enduring Business” has arrived to transform today's practices into businesses designed to endure and prosper and serve generations of clients.
• Learn how to create a "Lifestyle Succession Plan" that can provide a lifetime of income and benefits to the founder even as he/she gradually retires on the job
• Unlock the power of equity management — the best planning and building tool an independent advisor owns
• Learn how to attract and retain the best of the next generation to help you build a great business and to support your succession plans and care for your clients and their families
• Determine precisely when to start a formal succession plan and related continuity plan so that your business can work for you when you need it most
• Understand why succession planning and selling your business are completely different strategies, but how they can complement each other when used correctly
95% of independent financial service professionals are one owner practices. To the positive, these practices are among the most valuable professional service models in America. But almost all advisors are assembling their practices using the wrong tools — tools borrowed from historically successful, but vastly different models including wirehouses, broker-dealers, and even OSJ's and branch managers. Revenue sharing, commission splitting and other eat-what-you-kill compensation methods dominate the independent sector and virtually ensure that today's independent practices, if left unchanged, will not survive the end of their founder's career. It is time to change course and this book provides the map and the details to help you do just that.
For independent practice owners and staff members, advisors who want to transition to independence, as well as accountants, attorneys, coaches and others involved in the financial services space, there are invaluable lessons to be learned from Succession Planning for Financial Advisors.
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Statistical Arbitrage
Algorithmic Trading Insights and Techniques
by Andrew Pole
Part of the Wiley Finance series
While statistical arbitrage has faced some tough times, as markets experienced dramatic changes in dynamics beginning in 2000, new developments in algorithmic trading have allowed it to rise from the ashes of that fire. Based on the results of author Andrew Pole’s own research and experience running a statistical arbitrage hedge fund for eight years, in partnership with a group whose own history stretches back to the dawn of what was first called pairs trading, this unique guide provides detailed insights into the nuances of a proven investment strategy. Filled with in-depth insights and expert advice, Statistical Arbitrage contains comprehensive analysis that will appeal to both investors looking for an overview of this discipline, as well as quants looking for critical insights into modeling, risk management, and implementation of the strategy.
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Trademark Valuation
A Tool for Brand Management
by Gordon V. Smith
Part of the Wiley Finance series
A practical and useful resource for valuing trademarks
The Second Edition of “Trademark Valuation” is a fresh presentation of basic valuation principles, together with important recent changes in worldwide financial reporting regulations and an update on the current worldwide legal conditions and litigation situation as they relate to trademarks.
A new section discussing issues surrounding valuation of counterfeits and the economic effects of trademark counterfeiting is included in this informative Second Edition.
• Considers methods to determine the real value of your trademark and exploit its full potential
• Offers dozens of case studies that illustrate how to apply valuation methods and strategies to real-world situations
• Communicates complex legal and financial concepts, terms, principles, and practices in plain English
• Discusses GATT, NAFTA, emerging markets, and other international trademark considerations
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Financial Risk Management
Applications in Market, Credit, Asset and Liability Management and Firmwide Risk
by Jimmy Skoglund
Part of the Wiley Finance series
A global banking risk management guide geared toward the practitioner.
“Financial Risk Management” presents an in-depth look at banking risk on a global scale, including comprehensive examination of the U.S. Comprehensive Capital Analysis and Review, and the European Banking Authority stress tests. Written by the leaders of global banking risk products and management at SAS, this book provides the most up-to-date information and expert insight into real risk management. The discussion begins with an overview of methods for computing and managing a variety of risk, then moves into a review of the economic foundation of modern risk management and the growing importance of model risk management. Market risk, portfolio credit risk, counterparty credit risk, liquidity risk, profitability analysis, stress testing, and others are dissected and examined, arming you with the strategies you need to construct a robust risk management system. The book takes readers through a journey from basic market risk analysis to major recent advances in all financial risk disciplines seen in the banking industry. The quantitative methodologies are developed with ample business case discussions and examples illustrating how they are used in practice. Chapters devoted to firmwide risk and stress testing cross reference the different methodologies developed for the specific risk areas and explain how they work together at firmwide level. Since risk regulations have driven a lot of the recent practices, the book also relates to the current global regulations in the financial risk areas.
Risk management is one of the fastest growing segments of the banking industry, fueled by banks' fundamental intermediary role in the global economy and the industry's profit-driven increase in risk-seeking behavior. This book is the product of the authors' experience in developing and implementing risk analytics in banks around the globe, giving you a comprehensive, quantitative-oriented risk management guide specifically for the practitioner.
• Compute and manage market, credit, asset, and liability risk
• Perform macroeconomic stress testing and act on the results
• Get up to date on regulatory practices and model risk management
• Examine the structure and construction of financial risk systems
• Delve into funds transfer pricing, profitability analysis, and more
Quantitative capability is increasing with lightning speed, both methodologically and technologically. Risk professionals must keep pace with the changes and exploit every tool at their disposal. “Financial Risk Management” is the practitioner's guide to anticipating, mitigating, and preventing risk in the modern banking industry.
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Advanced Credit Risk Analysis and Management
by Ciby Joseph
Part of the Wiley Finance series
Credit is essential in the modern world and creates wealth, provided it is used wisely. The Global Credit Crisis during 2008/2009 has shown that sound understanding of underlying credit risk is crucial. If credit freezes, almost every activity in the economy is affected. The best way to utilize credit and get results is to understand credit risk.
“Advanced Credit Risk Analysis and Management” helps the reader to understand the various nuances of credit risk. It discusses various techniques to measure, analyze and manage credit risk for both lenders and borrowers. The book begins by defining what credit is and its advantages and disadvantages, the causes of credit risk, a brief historical overview of credit risk analysis and the strategic importance of credit risk in institutions that rely on claims or debtors. The book then details various techniques to study the entity level credit risks, including portfolio level credit risks.
Authored by a credit expert with two decades of experience in corporate finance and corporate credit risk, the book discusses the macroeconomic, industry and financial analysis for the study of credit risk. It covers credit risk grading and explains concepts including PD, EAD and LGD. It also highlights the distinction with equity risks and touches on credit risk pricing and the importance of credit risk in Basel Accords I, II and III. The two most common credit risks, project finance credit risk and working capital credit risk, are covered in detail with illustrations. The role of diversification and credit derivatives in credit portfolio management is considered. It also reflects on how the credit crisis develops in an economy by referring to the bubble formation. The book links with the 2008/2009 credit crisis and carries out an interesting discussion on how the credit crisis may have been avoided by following the fundamentals or principles of credit risk analysis and management.
The book is essential for both lenders and borrowers. Containing case studies adapted from real life examples and exercises, this important text is practical, topical and challenging. It is useful for a wide spectrum of academics and practitioners in credit risk and anyone interested in commercial and corporate credit and related products.
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Securities Fraud
Detection, Prevention, and Control
by Louis L. Straney
Part of the Wiley Finance series
The first complete, expert guide to securities and investment fraud
Filled with expert guidance for detection and prevention of all kinds of securities fraud and investment misconduct, Securities Fraud helps you identify red flags of fraud and offers practical ways to detect and prevent it. Written by a Wall Street professional with three decades of experience spanning the most critical period of our financial markets This book challenges classic fraud theories, describing how to dismantle information silos that permit fraudsters to conceal their activities.
• Begins with an overview of the evolution of securities regulation and the impact of securities fraud
• Offers real cases and examples which illustrate recurring themes and red flags
• Provides the first guide of its kind to offer a complete look at the various kinds of securities fraud and investment misconduct
Securities Fraud is the essential guide you need for a bird's-eye view of fraud that may be taking place even now within your own organization and with your portfolio.
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Risk Budgeting
Portfolio Problem Solving with Value-at-Risk
by Neil D. Pearson
Part of the Wiley Finance series
Covers the hottest topic in investment for multitrillion pension market and institutional investors
Institutional investors and fund managers understand they must take risks to generate superior investment returns, but the question is how much. Enter the concept of risk budgeting, using quantitative risks measurements, including VaR, to solve the problem. VaR, or value at risk, is a concept first introduced by bank dealers to establish parameters for their market short-term risk exposure. This book introduces VaR, extreme VaR, and stress-testing risk measurement techniques to major institutional investors, and shows them how they can implement formal risk budgeting to more efficiently manage their investment portfolios. Risk Budgeting is the most sophisticated and advanced read on the subject out there in the market.
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Maximizing Corporate Value through Mergers and Acquisitions
A Strategic Growth Guide
by Patrick A. Gaughan
Part of the Wiley Finance series
Solid guidance for selecting the correct strategic basis for mergers and acquisitions
Examining how M&A fits in corporate growth strategies, Maximizing Corporate Value through Mergers and Acquisitions covers the various strategic reasons for companies entering mergers and acquisitions (M&A), with a look at those that are based on sound strategy, and those that are not.
• Helps companies decide whether M&As should be used for growth and increased corporate value
• Explores why M&A deals often fail to deliver what their proponents have represented they would
• Explains which types of M&A work best and which to avoid
With insider guidance on what boards of directors should be aware of when evaluating proposed deals, Maximizing Corporate Value through Mergers and Acquisitions provides a sound foundation for understanding the risks involved in any mergers and acquisitions deal, before it's too late.
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Alternative Investments
CAIA Level I
by Donald R. Chambers
Part of the Wiley Finance series
“Alternative Investments: CAIA Level I” is the curriculum book for the Chartered Alternative Investment Analyst (CAIA) Level I professional examination. Covering the fundamentals of the alternative investment space, this book helps you build a foundation in alternative investment markets. You'll look closely at the different types of hedge fund strategies and the range of statistics used to define investment performance as you gain a deep familiarity with alternative investment terms and develop the computational ability to solve investment problems. From strategy characteristics to portfolio management strategies, this book contains the core material you will need to succeed on the CAIA Level I exam. This updated fourth edition tracks to the latest version of the exam and is accompanied by the following ancillaries: a workbook, study guide, learning objectives, and an ethics handbook.
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Foreign Exchange Option Pricing
A Practitioner's Guide
by Iain J. Clark
Part of the Wiley Finance series
The writing "bible" for financial professionals
“The Investment Writing Handbook” provides practical, accessible guidance for crafting more effective investor communications. Written by an award-winning writer, editor, and speechwriter, this book explains the principles and conventions that help writing achieve its purpose; whether you need to inform, educate, persuade, or motivate, you'll become better-equipped to develop a broad range of communications and literature for investor consumption. Examples from real-world financial institutions illustrate expert execution, while explanations and advice targeted specifically toward investor relations give you the help you need quickly. From white papers and investment commentary to RFPs, product literature, and beyond, this book is the financial writer's "bible" that you should keep within arm's reach.
Investment writing is one of the primary influences on investors' attitudes. It educates, informs decisions, shapes opinions, and drives behavior-so shouldn't it be expertly-crafted to achieve its intended goal? This book explains the "tricks of the trade" to help you get your message across.
• Understand the principles of effective investor communication
• Master the conventions of informative and persuasive writing
• Examine well-written sample documents from real-world institutions
• Improve research papers, presentations, investor letters, marketing literature, and more
Virtually all firms with investors as clients need to communicate to them regularly, but few financial professionals receive formal training in investor communications. When investors' opinions, attitudes, and actions determine the health of your company, it is vitally important that these communications not be left to chance. “The Investment Writing Handbook” provides essential guidance and clear explanations to help you transform your communication strategy, execution, and results.
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Dim Sum Bonds
The Offshore Renminbi (RMB)-Denominated Bonds
by Hung-Gay Fung
Part of the Wiley Finance series
A comprehensive guide to understanding and assimilating into dim sum bond markets.
The expansive growth of the dim sum bond market in the last five years has peaked investor interest and inspired companies to seek out investing opportunities that negate China's capital controls. In a four-pronged approach, Dim Sum Bonds examines the development of the dim sum bond market and its role in China's RMB internationalization policy, characteristics of dim sum bonds and its market, investors' investment objectives and the investment performance of dim sum bonds, motivations of issuers, and underwriters' roles in the dim sum bond market. You will familiarize yourself with every aspect of the dim sum bond market from an issuer, an investor, and an underwriter's perspective. Academics, financial advisors, investment bankers, underwriters, investors, and policy makers should not be without this informative and detailed guide to the offshore market central to China's internationalization of RMB.
• Written by Hung-Gay Fung, Glenn Chi-Wo Ko, and Jot Yau, all of whom are experts on the dim sum bond market
• Explains the rapidly expanding dim sum bond market and puts readers ahead of the curve
• Landmark issues, Chinese banks (China Development Bank), Infrastructure, red-chip companies (Sinotruk), and multinational corporations doing business in China (McDonald's) are discussed in detail.
Covering landmark issues from a variety of Chinese and multinational corporations, Dim Sum Bonds provides must-read manual to understanding the vast opportunities of this up-and-coming market.
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Investing in Islamic Funds
A Practitioner's Perspective
by Noripah Kamso
Part of the Wiley Finance series
A guide to Islamic investment opportunities from the CEO of the world's leading Islamic finance bank.
Offering an insider's perspective on a rapidly growing sector of the financial industry, Investing in Islamic Funds details the basic principles of Islamic investing for Muslims and non-Muslims alike. It explains how Islamic equity and fixed-income products differ from traditional funds, and how they deliver excellent results while still conforming to Sharia principles. Using hard data from the last six years, the book also reveals how Islamic funds have offered predictable, reliable returns in volatile markets and turbulent financial times. For institutional investors as well as sophisticated individual investors, the book serves as an excellent introduction to the subject and surveys the full range of products available. Additionally, the book will arm financial services professionals with the knowledge they need to explain this new investment opportunity to clients.
• One of the few books available that offers comprehensive data on the performance of Islamic funds in addition to the underlying theory that governs them
• Written by the CEO of CIMB-Principal Islamic Asset Management, the world's leading Islamic finance bank
• Features charts, case studies, comparative analysis, and a tabular data format
• Debunks the misconceptions traditional investors may have about the profitability Islamic funds
For professional and institutional investors, as well as private investors looking for new opportunities, “Investing in Islamic Funds” offers a much-needed primer on this fast-growing market.
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Investment Management
Meeting the Noble Challenges of Funding Pensions, Deficits, and Growth
by Various Authors
Part of the Wiley Finance series
Synopsis currently unavailable.
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Credit Derivatives
Trading, Investing, and Risk Management
by Geoff Chaplin
Part of the Wiley Finance series
The conventional portfolio is prone to frequent and potentially devastating losses because it is NOT balanced to different economic outcomes. In contrast, a truly balanced portfolio can help investors reduce risk and more reliably achieve their objectives. This simple fact would surprise most investors, from beginners to professionals. Investment consultant Alex Shahidi puts his 15 years of experience advising the most sophisticated investors in the world and managing multi-billion-dollar portfolios to work in this important resource for investors. You will better understand why nearly every portfolio is poorly balanced and how to view the crucial asset allocation decision from a deeper, more thoughtful perspective. The concepts presented are simple, intuitive and easy to implement for every investor. Author Alex Shahidi will walk you through the logic behind the balanced portfolio framework and provide step-by-step instructions on how to build a truly balanced portfolio. No book has ever been written that discusses asset allocation in this light.
• Provides insights from a top-ranked investment consultant using strategies from the industry's brightest minds
• Proposes a balanced asset allocation that can achieve stable returns through various economic climates
• Introduces sophisticated concepts in very simple terms
For those who want to better manage their investment portfolio and seek a more advanced approach to building a balanced portfolio, “Balanced Asset Allocation: How to Profit in Any Economic Climate” provides an in-depth treatment of the topic that can be put to use immediately.
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Infrastructure Investing
Managing Risks & Rewards for Pensions, Insurance Companies & Endowments
by Rajeev J. Sawant
Part of the Wiley Finance series
Invaluable information regarding one of the biggest worldwide growth areas in investing-infrastructure assets
Infrastructure investing is about to explode on the worldwide scene. The fact is that real money will need to be spent on real projects-which will present real opportunities for stable, long-term returns. But infrastructure assets have unique characteristics and the investments and funds that will likely rise up must be suitably structured to serve investor needs.
• Presents comprehensive data analysis on infrastructure cases worldwide
• Analyzes the opportunities as well as the pitfalls of infrastructure investing
• Focuses on the needs of pensions, insurance companies, and endowments interested in infrastructure investing
For the next decade, worldwide economic growth and increased employment-as well as investment returns-will come from infrastructure projects. This book will help you understand today's dynamic infrastructure asset class and quickly get you up to speed on the unique risks and rewards associated with it.
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Islamic Capital Markets
Theory and Practice
by Noureddine Krichene
Part of the Wiley Finance series
A comprehensive look at the essentials of Islamic capital markets
Bringing together theoretical and practical aspects of capital markets, “Islamic Capital Markets” offers readers a comprehensive insight into the institutions, instruments, and regulatory framework that comprise Islamic capital markets. Also exploring ideas about money, central banking, and economic growth theory and their role in Islamic capital markets, the book provides students and practitioners with essential information about the analytical tools of Islamic capital markets, serves as a guide to investing in Islamic assets, and examines risk management and the structure of Islamic financial products.
Author and Islamic finance expert Noureddine Krichene examines the development of leading Islamic capital markets, including Malaysia, looking at sukuks and stocks in detail and emphasizing valuation, duration, convexity, immunization, yield curves, forward rates, swaps, and risks. Analyzing stock markets, stock valuation, price-earnings ratio, market efficiency hypothesis, and equity premiums, the book addresses uncertainty in capital markets, portfolio diversification theory, risk-return trade-off, pricing of assets, cost of capital, derivatives and their role in hedging and speculation, the principle of arbitrage and replication, Islamic structured products, the financing of large projects, and more.
• Emphasizes both theoretical and practical aspects of capital markets, covering analytical concepts such as the theory of arbitrage, pricing of assets, capital market pricing model, Arrow-Debreu state prices, risk-neutral pricing, derivatives markets, hedging and risk management, and structured products
• Provides students and practitioners of finance with must-have information about the analytical tools employed in Islamic capital markets
• Examines all the most recent developments in major Islamic capital markets, including Malaysia
Discussing the advantages of Islamic capital markets and the prospects for their development, “Islamic Capital Markets” gives readers a fundamental grounding in the subject, with an emphasis on financial theory and real world practice.
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Portable Alpha Theory and Practice
What Investors Really Need to Know
by Sabrina Callin
Part of the Wiley Finance series
As an original innovator of the portable alpha concept, PIMCO has been managing an increasing number of different portable alpha strategies for investors since 1986. And now, with Portable Alpha Theory and Practice, the PIMCO team shares their extensive experiences with you. Filled with in-depth insights and expert guidance, this reliable resource provides an informative look at portable alpha and key related concepts, as well as detailed discussion on the many ways it can be applied in real-world situations.
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Listed Volatility and Variance Derivatives
A Python-based Guide
by Yves Hilpisch
Part of the Wiley Finance series
Leverage Python for expert-level volatility and variance derivative trading
Listed Volatility and Variance Derivatives is a comprehensive treatment of all aspects of these increasingly popular derivatives products, and has the distinction of being both the first to cover European volatility and variance products provided by Eurex and the first to offer Python code for implementing comprehensive quantitative analyses of these financial products. For those who want to get started right away, the book is accompanied by a dedicated Web page and a Github repository that includes all the code from the book for easy replication and use, as well as a hosted version of all the code for immediate execution.
Python is fast making inroads into financial modelling and derivatives analytics, and recent developments allow Python to be as fast as pure C++ or C while consisting generally of only 10% of the code lines associated with the compiled languages. This complete guide offers rare insight into the use of Python to undertake complex quantitative analyses of listed volatility and variance derivatives.
• Learn how to use Python for data and financial analysis, and reproduce stylised facts on volatility and variance markets
• Gain an understanding of the fundamental techniques of modelling volatility and variance and the model-free replication of variance
• Familiarise yourself with micro structure elements of the markets for listed volatility and variance derivatives
• Reproduce all results and graphics with IPython/Jupyter Notebooks and Python codes that accompany the book
Listed Volatility and Variance Derivatives is the complete guide to Python-based quantitative analysis of these Eurex derivatives products.
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Evolutions in Sustainable Investing
Strategies, Funds and Thought Leadership
by Nick Robins
Part of the Wiley Finance series
Sustainable Investing is fast becoming an essential method of generating long-term returns, moving beyond the negative approaches to socially responsible investing that have dominated the field. This book, our second on the subject, provides over 15 case studies of leading global investors and companies demonstrating how they successfully apply sustainability aspects to their core strategies. Learn from prominent thought leaders Dan Esty and Paul Hawken among others who have contributed key chapters. Our chapter on performance shows clearly how these strategies have been working once negative approaches are parsed out by those examining fund returns. This book also examines in great depth what data exists, and what's on the horizon, to best measure & capture sustainability successfully. Regional perspectives, including 3 chapters on Asia, and focuses on Canada, Australia, Africa & India are also included, as is a look across asset classes.
Sustainable Investing, when performed with a positive perspective, has been outperforming the mainstream, unlike negative approaches designed to match benchmark returns. From eco-efficiency to sustainability-driven innovation and beyond, investors of all shapes & sizes need to know how best to position themselves for the radical market shifts underway.
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Islamic Banking in Indonesia
New Perspectives on Monetary and Financial Issues
by Rifki Ismal
Part of the Wiley Finance series
A comprehensive overview of key developments in Islamic banking
In “Islamic Banking in Indonesia”, renowned economist Dr. Rifki Ismal explores current issues in Islamic banking and financial products with a particular focus on the danger of liquidity risk in Indonesia. It approaches liquidity risk from the conventional perspective of international banking standards, as well as from the Islamic banking perspective. Dr. Ismal also covers the issues of asset-liability balancing, liquidity risk index, organizational structures for managing liquidity, industrial analysis, withdrawal risk, bankruptcy risk, moral hazard risk, and market risk.
Compiling all the latest academic research on liquidity risk and other risks in Islamic banking, the book provides a theoretical foundation for managing risk that will is highly useful for researchers on Islamic banking and practitioners and academics.
• Written by a renowned expert on Islamic banking who works on monetary policy at the central bank of Indonesia
• Covers the latest developments in Islamic banking, particularly liquidity risk, for a rapidly expanding market
• Ideal for European and American readers, in addition to Asian readers, who need a fuller understanding of Islamic banking institutions, markets, and products
With the latest academic research and the expertise of a leading practitioner in Islamic banking, this book offers in-depth coverage of the most pressing issues in the field.
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Financial Simulation Modeling in Excel
A Step-by-Step Guide
by Keith A. Allman
Part of the Wiley Finance series
A practical guide to understanding and implementing financial simulation modeling.
As simulation techniques become more popular among the financial community and a variety of sub-industries, a thorough understanding of theory and implementation is critical for practitioners involved in portfolio management, risk management, pricing, and capital budgeting. “Financial Simulation Modeling in Excel” contains the information you need to make the most informed decisions possible in your professional endeavors.
“Financial Simulation Modeling in Excel” contains a practical, hands-on approach to learning complex financial simulation methodologies using Excel and VBA as a medium. Crafted in an easy-to-understand format, this book is suitable for anyone with a basic understanding of finance and Excel. Filled with in-depth insights and expert advice, each chapter takes you through the theory behind a simulation topic and the implementation of that same topic in Excel/VBA in a step-by-step manner.
• Organized in an easy-to-follow fashion, this guide effectively walks you through the process of creating and implementing risk models in Excel
• A companion website contains all the Excel models risk experts and quantitative analysts need to practice and confirm their results as they progress
• Keith Allman is the author of other successful modeling books, including Corporate Valuation Modeling and Modeling Structured Finance Cash Flows with Microsoft Excel
Created for those with some background in finance and experience in Excel, this reliable resource shows you how to effectively perform sound financial simulation modeling, even if you've yet to do extensive modeling up to this point in your professional or academic career.
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Liquidity Management
A Funding Risk Handbook
by Aldo Soprano
Part of the Wiley Finance series
Robust management of liquidity risk within the changing regulatory framework
“Liquidity Management” applies current risk management theory, techniques, and processes to liquidity risk control and management to help organizations prepare in case of future economic crisis and changing regulatory framework. Based on extensive research conducted on banks' datasets, this book addresses the practical challenges and critical issues that frequently go unmentioned and discusses the recent impact of sovereign crises on banks' liquidity processes and approaches. Market practices and regulatory stances are reviewed and compared to bank treasuries' response to liquidity crunches, refinancing risks are explored in the context of Basel 3, and alternative funding is analyzed in terms of resilience and allocation. Coverage includes the recent crisis, new regulations, and the techniques, processes, and strategies banks use in managing liquidity risk.
The 2008 and 2010 crises brought liquidity risk out of the shadows as even profitable and well-capitalized banks were swept away with breathtaking speed. This book reviews modeling and internal process design in the context of the structural change in market conditions on banks' refinancing and control requirements, helping readers rethink and re-design their organization's approach to liquidity risk.
• Understand the new liquidity regulatory framework and the implications for banks
• Study the latest liquidity measurement models, with stress testing and scenario analysis
• Discover the effect of illiquid financing markets and possible lasting impacts
• Compare market liquidity and warning signals that detect further deterioration
With much of the world still reeling from history, it's important that liquidity risk become a major focus going forward. This practical guide provides valuable information, but also real, actionable steps that can be taken today to forecast and mitigate risks with an eye toward greater stability and security. “Liquidity Management” is a thorough, comprehensive guide to a more robust management of liquidity risk.
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Pairs Trading
Quantitative Methods and Analysis
by Ganapathy Vidyamurthy
Part of the Wiley Finance series
The first in-depth analysis of pairs trading
Pairs trading is a market-neutral strategy in its most simple form. The strategy involves being long (or bullish) one asset and short (or bearish) another. If properly performed, the investor will gain if the market rises or falls. Pairs Trading reveals the secrets of this rigorous quantitative analysis program to provide individuals and investment houses with the tools they need to successfully implement and profit from this proven trading methodology. “Pairs Trading” contains specific and tested formulas for identifying and investing in pairs, and answers important questions such as what ratio should be used to construct the pairs properly.
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Creating a Balanced Scorecard for a Financial Services Organization
by James Creelman
Part of the Wiley Finance series
How to plan for the commercial real estate collapse.
Encompassing apartment, office, retail, hospitality, warehouse, manufacturing, and flex or R & D buildings, commercial real estate (CRE) investment in the U.S. totaled $6.4 trillion at the end of 2008. As noted in the February 2010 Congressional Oversight Panel Report, $1.4 trillion of CRE debt is coming due by 2014 and half of the CRE projects securing such debt are underwater. Commercial Real Estate Restructuring Revolution: Strategies, Tranche Warfare, and Prospects for Recovery looks at how we got into this mess—impacts of the housing crisis, debt structures, lender-borrower collusion, and bankruptcy abuses—and offers possible solutions to the CRE crisis. Along the way, author Stephen Meister:
• Discusses how CRE value losses are being driven by investors' risk adjusted cap rates, not just poorer market fundamentals
• Discusses strategies and emerging trends in CRE foreclosures, including forced lender fundings, lender attempts to chill bids and UCC foreclosure tactics and pitfalls
• Proposes legislative solutions and explains how any rebound will require federal spending cuts, a vast deleveraging and a market clearing process
With a crashing CRE debt market and the hundreds of CRE-heavy regional banks destined for failure, getting out ahead of the curve is essential. Commercial Real Estate Restructuring Revolution addresses how we got here and how you can plan for the impending crash.
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How to Create and Manage a Mutual Fund or Exchange-Traded Fund
A Professional's Guide
by Melinda Gerber
Part of the Wiley Finance series
With this book, author Melinda Gerber walks you through the twenty-nine steps needed to start a mutual fund and the thirty-six steps needed to start an ETF. She provides costs and detailed explanations of how to accomplish each task from fledgling idea to the actuality of selling shares, and also takes the time to explain the importance of creating a clear vision for your fund as well as how to successfully profile customers and identify your competition.
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Essays in Derivatives
Risk-Transfer Tools and Topics Made Easy
by Don M. Chance
Part of the Wiley Finance series
In the updated second edition of Don Chance's well-received Essays in Derivatives, the author once again keeps derivatives simple enough for the beginner but offers enough in-depth information to satisfy even the most experienced investor. This book provides up-to-date and detailed coverage of various financial products related to derivatives and contains completely new chapters covering subjects that include why derivatives are used, forward and futures pricing, operational risk, and best practices.
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AI and the Future of the Public Sector
The Creation of Public Sector 4.0
by Tony Boobier
Part of the Wiley Finance series
Discover anew the life and influence of Henry James, part of the acclaimed Wiley Blackwell Critical Biographies series.
In “The Life of Henry James: A Critical Biography”, Peter Collister, an established critic and authority on Henry James, offers an original and fully documented account of one of America's finest writers, who was both a creative practitioner and theorist of the novel. In this volume, James's life in all its personal and cultural richness is examined alongside a detailed scrutiny of his fiction, essays, biographies, autobiographies, travel writing, plays and reviews.
James was a dedicated and brilliant letter-writer and his biographer make judicious use of this material, some of it previously unpublished, evoking in the novelist's own words the society within which he moved and worked. His gift for friendship, often resulting in close relationships with both men and women, are sensitively explored. Near the beginning of his long and highly productive life, James left America to immerse himself in European culture and history—a necessity, he felt, for the developing artist. In an ironic symmetry he witnessed in his youth the effects of the American Civil War and in his last days, finally becoming a British citizen, despaired at the unfolding tragedy of the Great War in Europe. Sustained, nevertheless, by his own creative energy, he never ceased to believe in the capacity of the arts to enhance and give significance to life.
• Provides well-informed accounts of Henry James's youth in New York City, his unconventional education, his extensive travel in Europe, his eventual assimilation into British society, his development as a writer and his personal relationships as a single man.
• Features discussions of James's major works in a variety of genres from an assured theoretical and historical perspective.
• Assesses James's developing quest for dramatic form in his fiction—the 'scenic art'—as well as his critical writing which was to have a lasting influence on the literature and aesthetic values of the twentieth century.
• Discusses his achieved aspiration to be 'just literary', to become what he called that 'queer monster', an artist.
• Charts James's lifelong interest in art and theatre.
An incisive discussion of the life of an author of major stature, “The Life of Henry James: A Critical Biography” offers a refreshingly lucid and human account of a novelist and his often challenging, but rewarding, writing.
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International Corporate Governance After Sarbanes-Oxley
by Greg N. Gregoriou
Part of the Wiley Finance series
Synopsis currently unavailable.
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Financial Risk Manager Handbook
by Philippe Jorion
Part of the Wiley Finance series
The essential reference for financial risk management
Filled with in-depth insights and practical advice, the Financial Risk Manager Handbook is the core text for risk management training programs worldwide. Presented in a clear and consistent fashion, this completely updated Sixth Edition, mirrors recent updates to the new two-level “Financial Risk Manager” (FRM) exam and is fully supported by GARP as the trusted way to prepare for the rigorous and renowned FRM certification. This valuable new edition includes an exclusive collection of interactive multiple-choice questions from recent FRM exams.
“Financial Risk Manager Handbook”, Sixth Edition supports candidates studying for the Global Association of Risk Professional's (GARP) annual FRM exam and prepares you to assess and control risk in today's rapidly changing financial world. Authored by renowned risk management expert Philippe Jorion, with the full support of GARP, this definitive guide summarizes the core body of knowledge for financial risk managers.
• Offers valuable insights on managing market, credit, operational, and liquidity risk
• Examines the importance of structured products, futures, options, and other derivative instruments
• Contains new material on extreme value theory, techniques in operational risk management, and corporate risk management
“Financial Risk Manager Handbook” is the most comprehensive guide on this subject, and will help you stay current on best practices in this evolving field. “The FRM Handbook” is the official reference book for GARP's FRM certification program.
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Investing in the Renewable Power Market
How to Profit from Energy Transformation
by Tom Fogarty
Part of the Wiley Finance series
The Everglades region is a mosaic of interconnected ecosystems where a slight elevation change can lead you from dry, rocky pinelands and shady hardwood hammocks to flooded grassy prairies and deep, mysterious swamps. Fascinating wildflowers abound in every habitat. This full-color, expanded second edition contains beautiful photos, easy-to-understand descriptions, and interesting facts about 362 wildflowers that inhabit this picturesque region.
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Inside Private Equity
The Professional Investor's Handbook
by James M. Kocis
Part of the Wiley Finance series
Inside Private Equity explores the complexities of this asset class and introduces new methodologies that connect investment returns with wealth creation. By providing straightforward examples, it demystifies traditional measures like the IRR and challenges many of the common assumptions about this asset class. Readers take away a set of practical measures that empower them to better manage their portfolios.
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Financial Risk Management
A Practitioner's Guide to Managing Market and Credit Risk
by Steve L. Allen
Part of the Wiley Finance series
A top risk management practitioner addresses the essential aspects of modern financial risk management
In the Second Edition of Financial Risk Management + Website, market risk expert Steve Allen offers an insider's view of this discipline and covers the strategies, principles, and measurement techniques necessary to manage and measure financial risk. Fully revised to reflect today's dynamic environment and the lessons to be learned from the 2008 global financial crisis, this reliable resource provides a comprehensive overview of the entire field of risk management.
Allen explores real-world issues such as proper mark-to-market valuation of trading positions and determination of needed reserves against valuation uncertainty, the structuring of limits to control risk taking, and a review of mathematical models and how they can contribute to risk control. Along the way, he shares valuable lessons that will help to develop an intuitive feel for market risk measurement and reporting.
• Presents key insights on how risks can be isolated, quantified, and managed from a top risk management practitioner
• Offers up-to-date examples of managing market and credit risk
• Provides an overview and comparison of the various derivative instruments and their use in risk hedging
• Companion Website contains supplementary materials that allow you to continue to learn in a hands-on fashion long after closing the book
Focusing on the management of those risks that can be successfully quantified, the Second Edition of Financial Risk Management + Websiteis the definitive source for managing market and credit risk.
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Equity Derivatives
Theory and Applications
by Marcus Overhaus
Part of the Wiley Finance series
Written by the Founder and CEO of the prestigious New York School of Finance, this book schools you in the fundamental tools for accurately assessing the soundness of a stock investment. Built around a full-length case study of Wal-Mart, it shows you how to perform an in-depth analysis of that company's financial standing, walking you through all the steps of developing a sophisticated financial model as done by professional Wall Street analysts. You will construct a full-scale financial model and valuation step-by-step as you page through the book.
When we ran this analysis in January of 2012, we estimated the stock was undervalued. Since the first run of the analysis, the stock has increased 35 percent. Re-evaluating Wal-Mart 9months later, we will step through the techniques utilized by Wall Street analysts to build models on and properly value business entities.
• Step-by-step financial modeling-taught using downloadable Wall Street models, you will construct the model step by step as you page through the book.
• Hot keys and explicit Excel instructions aid even the novice excel modeler.
• Model built complete with Income Statement, Cash Flow Statement, Balance Sheet, Balance Sheet Balancing Techniques, Depreciation Schedule (complete with accelerating depreciation and deferring taxes), working capital schedule, debt schedule, handling circular references, and automatic debt pay downs.
• Illustrative concepts including detailing model flows help aid in conceptual understanding.
• Concepts are reiterated and honed, perfect for a novice yet detailed enough for a professional.
• Model built direct from Wal-Mart public filings, searching through notes, performing research, and illustrating techniques to formulate projections.
• Includes in-depth coverage of valuation techniques commonly used by Wall Street professionals.
• Illustrative comparable company analyses-built the right way, direct from historical financials, calculating LTM (Last Twelve Month) data, calendarization, and properly smoothing EBITDA and Net Income.
• Precedent transactions analysis-detailing how to extract proper metrics from relevant proxy statements
• Discounted cash flow analysis-simplifying and illustrating how a DCF is utilized, how unlevered free cash flow is derived, and the meaning of weighted average cost of capital (WACC)
• Step-by-step we will come up with a valuation on Wal-Mart
• Chapter end questions, practice models, additional case studies and common interview questions (found in the companion website) help solidify the techniques honed in the book; ideal for universities or business students looking to break into the investment banking field.
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Islamic Finance
The New Regulatory Challenge
by Rifaat Ahmed Abdel Karim
Part of the Wiley Finance series
From The "Risk-Wise" Investor, this chapter takes you through a step-by-step process to effectively manage risk. This risk planning strategy is dedicated to helping you become familiar and completely comfortable with an easy-to-use, very effective, and holistic risk management planning process. It's a system that you can put to work right away in preparing for and effectively managing the risks you'll face. Author and industry veteran Michael Carpenter believes the key to risk management is to recognize that business and financial phenomenon exists and to factor it into your investment thinking.
This chapter demystifies risk management, covering:
• Portfolio strategies for all market conditions
• Active and Passive risk management strategies
• Risk Assessment
• Decision Making Checklists
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M&A Information Technology Best Practices
by Janice M. Roehl-Anderson
Part of the Wiley Finance series
Add value to your organization via the mergers & acquisitions IT function
As part of Deloitte Consulting, one of the largest mergers and acquisitions (M&A) consulting practice in the world, author Janice Roehl-Anderson reveals in M&A Information Technology Best Practices how companies can effectively and efficiently address the IT aspects of mergers, acquisitions, and divestitures. Filled with best practices for implementing and maintaining systems, this book helps financial and technology executives in every field to add value to their mergers, acquisitions, and/or divestitures via the IT function.
• Features a companion website containing checklists and templates
• Includes chapters written by Deloitte Consulting senior personnel
• Outlines best practices with pragmatic insights and proactive strategies
Many M&As fail to meet their expectations. Be prepared to succeed with the thorough and proven guidance found in M&A Information Technology Best Practices. This one-stop resource allows participants in these deals to better understand the implications of what they need to do and how
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Systematic Fixed Income
An Investor's Guide
by Scott A. Richardson
Part of the Wiley Finance series
Timely guidance for transforming IT into a strategic business partner.
Today's leaders are expected to reduce costs, increase productivity, drive innovation and help the business identify and pursue new business opportunities. Successful IT leaders will be the ones that become strategic business partners and decision influencers in their organizations. Unleashing the Power of IT describes in actionable detail, the new mindset, core skill set, and interpersonal tool set that are necessary for IT leaders to thrive in today's increasingly complex challenging business environment.
• Provides tangible, hard-hitting, real-world strategies, techniques and approaches that will immediately transform your IT workforce and culture
• Includes Top Ten lists of tips and techniques, proven frameworks and practical guidance to help you launch and sustain your IT culture change and professional development initiatives
• Addresses how to build a client-focused IT culture; move your organization from order takers to trusted business partners, market IT's value, lead change with confidence, manage projects and vendor relationships
A special feature of this book includes a chapter profiling several world-class organizations that have implemented the principles in this book. Learn about the culture change challenges they overcame and benefit from their best practices and successes.
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Contemporary Finance
Money, Risk, And Public Policy
by Allan M. Malz
Part of the Wiley Finance series
A clear new finance textbook that explains essential models and practices, and how the financial world works now
Contemporary Financial Markets and Institutions: Tools and Techniques to Manage Risk and Uncertainty is an ideal introduction to finance for professionals and students. It covers the basic finance theory required to understand the contemporary financial world and builds on it to present finance in a detailed yet comprehensible way. It explains markets and institutions, and the central bank and government policies that influence how they operate.
The book begins with an overview of basic finance theory, including investments, asset return behavior, derivatives pricing, and credit risk. It discusses topics that have dominated markets in recent decades, such as extreme events, liquidity, currency and debt crises, and radical changes in monetary policy and regulation. The concepts are presented alongside examples, strange market episodes, and data from recent experience. Contemporary Financial Markets and Institutions covers advanced credit topics like securitization in a straightforward, succinct way, without advanced mathematics, but with detailed examples using real market data. It integrates financial and macroeconomic content seamlessly. The book is suitable for use by undergraduate and graduate students, and by practitioners of all backgrounds. Abundant pedagogical resources in the book and online facilitate teaching.
This book will help students and practioners:
• Learn the basic concepts and models in finance, including investment, asset pricing, uncertainty and risk, monetary policy and the regulatory system
• Explore recent developments, from the expansion of central banks to the chaos in commercial banking to changes in financial technology, that are dominating markets worldwide
• Gain knowledge of risk types, models, and measurement methods, and the impact of regulation
• Prepare yourself for a successful career in finance, or update your existing knowledge base with this comprehensive reference guide
Ideal as a sole or supplementary textbook for beginning and advanced finance courses, as well as for practitioners in finance-related fields, this book takes a unique, market-focused approach that will serve readers well in our turbulent and puzzling times.
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Modeling Structured Finance Cash Flows With Microsoft Excel
A Step-by-Step Guide
by Keith A. Allman
Part of the Wiley Finance series
A practical guide to building fully operational financial cash flow models for structured finance transactions
Structured finance and securitization deals are becoming more commonplace on Wall Street. Up until now, however, market participants have had to create their own models to analyze these deals, and new entrants have had to learn as they go. “Modeling Structured Finance Cash Flows with Microsoft Excel” provides readers with the information they need to build a cash flow model for structured finance and securitization deals. Financial professional Keith Allman explains individual functions and formulas, while also explaining the theory behind the spreadsheets. Each chapter begins with a discussion of theory, followed by a section called "Model Builder," in which Allman translates the theory into functions and formulas. In addition, the companion website features all of the modeling exercises, as well as a final version of the model that is created in the text.
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Equity Markets, Valuation, and Analysis
by H. Kent Baker
Part of the Wiley Finance series
Sharpen your understanding of the financial markets with this incisive volume
Equity Markets, Valuation, and Analysis brings together many of the leading practitioner and academic voices in finance to produce a comprehensive and empirical examination of equity markets.
Masterfully written and edited by experts in the field, Equity Markets, Valuation, and Analysis introduces the basic concepts and applications that govern the area before moving on to increasingly intricate treatments of sub-fields and market trends. The book includes in-depth coverage of subjects including:
The latest trends and research from across the globe
The controversial issues facing the field of valuation and the future outlook for the field
Empirical evidence and research on equity markets
How investment professionals analyze and manage equity portfolios
This book balances its comprehensive discussion of the empirical foundations of equity markets with the perspectives of financial experts. It is ideal for professional investors, financial analysts, and undergraduate and graduate students in finance.
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Business Risk and Simulation Modelling in Practice
Using Excel, VBA and @RISK
by Michael Rees
Part of the Wiley Finance series
The complete guide to the principles and practice of risk quantification for business applications.
The assessment and quantification of risk provide an indispensable part of robust decision-making, to be effective, many professionals need a firm grasp of both the fundamental concepts and of the tools of the trade. Business Risk and “Simulation Modelling in Practice” is a comprehensive, in—depth, and practical guide that aims to help business risk managers, modelling analysts and general management to understand, conduct and use quantitative risk assessment and uncertainty modelling in their own situations. Key content areas include:
• Detailed descriptions of risk assessment processes, their objectives and uses, possible approaches to risk quantification, and their associated decision-benefits and organisational challenges.
• Principles and techniques in the design of risk models, including the similarities and differences with traditional financial models, and the enhancements that risk modelling can provide.
• In depth coverage of the principles and concepts in simulation methods, the statistical measurement of risk, the use and selection of probability distributions, the creation of dependency relationships, the alignment of risk modelling activities with general risk assessment processes, and a range of Excel modelling techniques.
• The implementation of simulation techniques using both Excel/VBA macros and the @RISK Excel add-in. Each platform may be appropriate depending on the context, whereas the core modelling concepts and risk assessment contexts are largely the same in each case. Some additional features and key benefits of using @RISK are also covered.
“Business Risk and Simulation Modelling in Practice” reflects the author′s many years in training and consultancy in these areas. It provides clear and complete guidance, enhanced with an expert perspective. It uses approximately one hundred practical and real-life models to demonstrate all key concepts and techniques, these are accessible on the companion website.
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Market Momentum
Theory and Practice
by Stephen Satchell
Part of the Wiley Finance series
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.