A¿New York Times¿bestseller In a remarkable career, Edward O. Thorp rose up from nothing to become a professor at MIT, invented card counting and the world¿s first wearable computer, beat the casinos of Las Vegas at blackjack and roulette, then became a bestselling author and a hedge fund heavyweight, ushering in a revolution on Wall Street. Now he shares his incredible life story for the first time, revealing how he made his fortune and giving advice to the next generation of investors. An intellectual thrill ride, replete with practical wisdom, A Man for All Markets is a scarcely imaginable tale of ludicrous success.
The first definitive guide to understanding and profiting from the relationship between the stock market and interest rates It´s well established that interest rates significantly impact the stock market. This is the first book that definitively explores the interest rate/stock market relationship and describes a specific system for profiting from the relationship. Timing the Market provides an historically proven system, rooted in fundamental economics, that allows investors and traders to forecast the stock market using data from the interest rate markets-together with supporting market sentiment and cultural indicators-to pinpoint and profit from major turns in the stock market. Deborah Weir (Greenwich, CT) is President of Wealth Strategies, a firm that does marketing for traditional money managers and hedge funds. She is a Chartered Financial Analyst and is the first woman president of the Stamford CFA Society.
The efficient markets hypothesis has been the central proposition in finance for nearly thirty years. It states that securities prices in financial markets must equal fundamental values, either because all investors are rational or because arbitrage eliminates pricing anomalies. This book describes an alternative approach to the study of financial markets: behavioral finance. This approach starts with an observation that the assumptions of investor rationality and perfect arbitrage are overwhelmingly contradicted by both psychological and institutional evidence. In actual financial markets, less than fully rational investors trade against arbitrageurs whose resources are limited by risk aversion, short horizons, and agency problems. The book presents models of such markets. These models explain the available financial data more accurately than the efficient markets hypothesis, and generate new predictions about security prices. By summarizing and expanding the research in behavioral finance, the book builds a new theoretical and empirical foundation for the economic analysis of real-world markets.
A new, evolutionary explanation of markets and investor behavior Half of all Americans have money in the stock market, yet economists can´t agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe--and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist. Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn´t wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo´s new paradigm explains how financial evolution shapes behavior and markets at the speed of thought--a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation.A fascinating intellectual journey filled with compelling stories, Adaptive Markets starts with the origins of market efficiency and its failures, turns to the foundations of investor behavior, and concludes with practical implications--incl...show more
The indispensable classic on marketing by the bestselling author of Tribes and Purple Cow. Legendary business writer Seth Godin has three essential questions for every marketer: ´´What´s your story?´´ ´´Will the people who need to hear this story believe it?´´ ´´Is it true?´´ All marketers tell stories. And if they do it right, we believe them. We believe that wine tastes better in a $20 glass than a $1 glass. We believe that an $80,000 Porsche is vastly superior to a $36,000 Volkswagen that´s virtually the same car. We believe that $225 sneakers make our feet feel better-and look cooler-than a $25 brand. And believing it makes it true. As Seth Godin has taught hundreds of thousands of marketers and students around the world, great marketers don´t talk about features or even benefits. Instead, they tell a story-a story we want to believe, whether it´s factual or not. In a world where most people have an infinite number of choices and no time to make them, every organization is a marketer, and all marketing is about telling stories. Marketers succeed when they tell us a story that fits our worldview, a story that we intuitively embrace and then share with our friends. Think of the Dyson vacuum cleaner, or Fiji water, or the iPod. But beware: If your stories are inauthentic, you cross the line from fib to fraud. Marketers fail when they are selfish and scurrilous, when they abuse the tools of their trade and make the world worse. That´s a lesson learned the hard way by telemarketers, cigarette companies, and sleazy politicians. But for the rest of us, it´s time to embrace the power of the story. As Godin writes, ´´Stories make it easier to understand the world. Stories are the only way we know to spread an idea. Marketers didn´t invent storytelling. They just perfected it.´´
´[States and Markets] should be read by every student of international political economy.´ - International Relations Theory. Susan Strange was one of the most influential international relations scholars of the latter half of the twentieth century. She is regarded by many as the creator of the discipline of international political economy (IPE) and leaves behind an impressive body of work. States and Markets is one of Strange´s seminal texts. Strange Introduces the reader to a unique critical model for understanding the relationship between politics and economics centred on her four-faceted model of power consisting of: security, production, finance and knowledge. Using these terms Strange provides a rigorous analysis of the effects of political authority, including states, on markets and conversely of market forces on states. The Revelations edition includes a new foreword by Ronen Palan.
Journey through the macabre underworld of the global body bazaar, with contributing ´´Wired´´ editor and award-winning journalist Carney, where organs, bones, and live people are bought and sold on the red market.