The New Paradigm for Financial Markets: The Credit Crash of 2008 and What It Means
by George Soros
from PublicAffairs
The Essays of Warren Buffett : Lessons for Corporate America
by Warren E. Buffett
from The Cunningham Group
Buffett, the Bard of Omaha, is a genuine American folk hero, if folk heroes are allowed to build fortunes worth upward of $15 billion. He's great at homespun metaphor, but behind those catchy phrases is a reservoir of financial acumen that's generally considered the best of his generation. For example, in an essay on CEO stock options, he writes, "Negotiating with one's self seldom produces a barroom brawl." This is his way of saying that an executive who can give himself compensation totally disproportionate to his performance surely will. There are uncountable gems of financial wisdom to be harvested from these essays, taken from the annual reports he writes for Berkshire Hathaway, his holding company. Just to pick one more, here's a now-famous line about those he competes with when making stock-market investments: "What could be more advantageous in an intellectual contest--whether it be chess, bridge, or stock selection--than to have opponents who have been taught that thinking is a waste of energy?"
While Buffett has a policy of seldom commenting on stocks he owns--he feels public pronouncements will only lead to the public's expectation of more public pronouncements, and he likes to keep his cards close to his vest--he loves to discuss the principles behind his investments. These come primarily from Ben Graham, under whom Buffett studied at Columbia University and for whom he worked in the 1950s. First among them is the idea that price is what you pay and value is what you get--and if you're a smart investor, the first will always be less than the second. In that sense, the value of the lessons learned from Buffett's Essays could be far greater than the book's price. --Lou Schuler
The definitive work concerning Warren Buffett and intelligent investment philosophy, this is a collection of Buffett's letters to the shareholders of Berkshire Hathaway written over the past few decades that together furnish an enormously valuable informal education. The letters distill in plain words all the basic principles of sound business practices. They are arranged and introduced by a leading apostle of the "value" school and noted author, Lawrence Cunningham. Here in one place are the priceless pearls of business and investment wisdom, woven into a delightful narrative on the major topics concerning both managers and investors. These timeless lessons are ever-more important in the current environment.
Banker To The Poor: Micro-Lending and the Battle Against World Poverty
by Muhammad Yunus
from PublicAffairs
It began with a simple $27 loan. After witnessing the cycle of poverty that kept many poor women enslaved to high-interest loan sharks in Bangladesh, Dr. Muhammad Yunus lent money to 42 women so they could purchase bamboo to make and sell stools. In a short time, the women were able to repay the loans while continuing to support themselves and their families. With that initial eye-opening success, the seeds of the Grameen Bank, and the concept of microcredit, were planted.
After earning a Ph.D. in economics at Vanderbilt University, Dr. Yunus returned to Bangladesh to settle into a life as a professor. But a famine in 1974 ravaged the country, leading Dr. Yunus to alter his thinking and his life profoundly: "What good were all my complex theories when people were dying of starvation on the sidewalks and porches across from my lecture hall?.... Nothing in the economic theories I taught reflected the life around me." Armed with little more than a lofty dream to end the suffering around him, he started an experimental microcredit enterprise in 1977; by 1983 the Grameen Bank was officially formed.
The idea behind the Grameen Bank is ingeniously simple: extend credit to poor people and they will help themselves. This concept strikes at the root of poverty by specifically targeting the poorest of the poor, providing small loans (usually less than $300) to those unable to obtain credit from traditional banks. At Grameen, loans are administered to groups of five people, with only two receiving their money up front. As soon as these two make a few regular payments, loans are gradually extended to the rest of the group. In this way, the program builds a sense of community as well as individual self-reliance. Most of the Grameen Bank's loans are to women, and since its inception, there has been an astonishing loan repayment rate of over 98 percent.
Banker to the Poor is an inspiring memoir of the birth of microcredit, written in a conversational tone that makes it both moving and enjoyable to read. The Grameen Bank is now a $2.5 billion banking enterprise in Bangladesh, while the microcredit model has spread to over 50 countries worldwide, from the U.S. to Papua New Guinea, Norway to Nepal. Ever optimistic, Yunus travels the globe spreading the belief that poverty can be eliminated: "...the poor, once economically empowered, are the most determined fighters in the battle to solve the population problem; end illiteracy; and live healthier, better lives. When policy makers finally realize that the poor are their partners, rather than bystanders or enemies, we will progress much faster that we do today." Dr. Yunus's efforts prove that hope is a global currency. --Shawn Carkonen
Banker to the Poor is Muhammad Yunus's memoir of how he decided to change his life in order to help the world's poor. In it he traces the intellectual and spiritual journey that led him to fundamentally rethink the economic relationship between rich and poor, and the challenges he and his colleagues faced in founding Grameen. He also provides wise, hopeful guidance for anyone who would like to join him in "putting homelessness and destitution in a museum so that one day our children will visit it and ask how we could have allowed such a terrible thing to go on for so long." The definitive history of micro-credit direct from the man that conceived of it, Banker to the Poor is necessary and inspirational reading for anyone interested in economics, public policy, philanthropy, social history, and business.
Muhammad Yunus was born in Bangladesh and earned his Ph.D. in economics in the United States at Vanderbilt University, where he was deeply influenced by the civil rights movement. He still lives in Bangladesh, and travels widely around the world on behalf of Grameen Bank and the concept of micro-credit.
Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance)
by John J. Murphy
from Prentice Hall Press
John J. Murphy has now updated his landmark bestseller Technical Analysis of the Futures Markets, to include all of the financial markets.
"If one could read only one book on technical analysis, this should be the one." --Knight-Ridder Financial Products and News (on the first edition, Technical Analysis of the Futures Markets, 0-13-898008-X)
This outstanding reference has already taught thousands of traders the concepts of technical analysis and their application in the futures and stock markets. Covering the latest developments in computer technology, technical tools, and indicators, the second edition features new material on candlestick charting, intermarket relationships, stocks and stock rotation, plus state-of-the-art examples and figures. From how to read charts to understanding indicators and the crucial role technical analysis plays in investing, readers gain a thorough and accessible overview of the field of technical analysis, with a special emphasis on futures markets. Revised and expanded for the demands of today's financial world, this book is essential reading for anyone interested in tracking and analyzing market behavior.
"One way to get started in technical analysis is to read a good book on the subject. One of my favorites is Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy. It's an easy read." Ralph J. Acampora, CMT, Managing Director, Prudential Securities Inc.
Currency Trading For Dummies (For Dummies (Business & Personal Finance))
by Mark Galant
from For Dummies
Features forex market guidelines and sample trading plans
The fun and easy way to get started in currency trading
Want to capitalize on the growing forex market? This nuts-and-bolts guide gives you a step-by-step action plan for understanding and trading the forex market. It offers practical guidance and savvy tips in everything from comprehending currency quotes to using leverage, trading with fundamentals, and navigating technical analysis.
- Identify trading opportunities
- Understand what drives the market
- Choose a trading broker
- Execute a successful trade
- Minimize risk and maximize profit
- Analyze currency charts
Financial Management: Theory & Practice (with Thomson ONE - Business School Edition 1-Year Printed Access Card)
by Eugene F. Brigham
from South-Western College Pub
Written for and praised by students just like you, FINANCIAL MANAGEMENT: THEORY AND PRACTICE gives you relevant, practical, and easy-to-understand information covering all of the financial management topics you need to succeed in this course. Underlying theory is presented first in an accessible style and then followed by the practical application.
Valuation: Measuring and Managing the Value of Companies, Fourth Edition
by McKinsey & Company Inc.
from Wiley
Hailed by financial professionals worldwide as the single best guide of its kind, Valuation, Fourth Edition with CD-ROM combines is thoroughly revised and expanded to reflect business conditions in today’s volatile global economy. Valuation provides up-to-date insights and practical advice on how to create, manage, and measure an organization’s value. Along with all-new case studies that illustrate how valuation techniques and principles are applied in real-world situations, this comprehensive guide has been updated to reflect the events of the Internet bubble and its effect on stock markets, new developments in academic finance, changes in accounting rules (both U. S. and IFRS), and an enhanced global perspective. This package contains a solid framework that managers at all levels, investors, and students have come to trust.
Mobs, Messiahs, and Markets: Surviving the Public Spectacle in Finance and Politics (Agora Series)
by William Bonner
from Wiley
Why Going Against the Grain Pays.
Bestselling author Bill Bonner has long been a maverick observer of the financial and political world, sharpening his sardonic wit, in particular, on the vagaries of the investing public. Market booms and busts, tulip manias and dotcom bubbles, venture capitalists and vulture funds, he lets you know, are best explained not by dry statistics and obscure theories but by the metaphors and analogies of literature.
Now, in Mobs, Messiahs, and Markets, Bonner and freelance journalist Lila Rajiva use literary economics to offer broader insights into mass behavior and its devastating effects on society. Why is it, they ask, that perfectly sane and responsible individuals can get together, and by some bizarre alchemy turn into an irrational mob? What makes them trust charlatans and demagogues who manipulate their worst instincts? Why do they abandon good sense, good behavior and good taste when an empty slogan is waved in front of them. Why is the road to hell paved with so many sterling intentions? Why is there a fool on every corner and a knave in every public office?
In attempting an answer, the authors weave a light-hearted journey through history, politics and finance to show group think at work in an improbable array of instances, from medieval crusades to the architectural follies of hedge-fund managers. Their journey takes them ultimately to the desk of the chairman of the Federal Reserve Bank and to a cautionary tale of the current bubble economy. They warn that the gush of credit let loose by Alan Greenspan and multiplied by the sophisticated number games of Wall Street whizzes is fraught with perils for the unwary. Boom without end, pronounces The Street. But Bonner and Rajiva are more cynical. When the higher math and the greater greed come together, watch out below!
Mobs, Messiahs, and Markets ends by giving concrete advice on how readers can avoid what the authors call the public spectacle of modern finance, and become, instead, private investors - knowing their own mind and following their own intuitions. The authors have no gimmicks to offer here -  but instead give a better understanding of the dynamics of market behavior, allowing prudent investors to protect themselves from the fads and follies of the investment markets.
The Complete Guide to Currency Trading & Investing: How to Earn High Rates of Return Safely and Take Control of Your Investments
by Jamaine Burrell
from Atlantic Publishing Company (FL)
In recent years many smart investors have exited the stock market and other investment areas because they have essentially lost control of their investments. They have relied on the advice and skill of their brokers, bankers, and financial advisors. Many investment and retirement accounts have dwindled. Fortunately, there is a wonderful but little-understood alternative: currency trading and investing. As with many other business segments, the Internet and technology have opened up this attractive marketplace to a new breed of individual investors and speculators working part-time. You and I can now stand on an even playing field with the largest banks and trading institutions from the comfort of home. Currency trading is the practice of exchanging one country's currency for another country's currency. The foreign exchange (Currency or Forex or FX) market is the largest trading market in the world exceeding $1.9 trillion every single day! Essentially there are four variables involved: currencies, exchange rate, time, and interest rate. The relationships of these variables create opportunities for small investors to obtain investment returns that are generally unheard of in the traditional investment world. You owe it to yourself and your family to begin to learn about currency trading. You can get started with just $100 or less, and the investment can easily be managed in a part-time capacity, usually requiring a few hours on the Internet a week from your home or your office. Currency investments can provide you with very high and secure rate of return, in some cases as high as 12%, 18%, 24%, or even 1,000% or more per year. If performed correctly, currency trading will far outpace all other investments. The key is to know how to perform this process correctly. This all sounds great, but what is the catch? There really is none, except you must know what you are doing! This groundbreaking and exhaustively researched new book will provide everything you need to know to get you started generating high-investment returns with low risk from start to finish, and you can start with less than $100. You will learn what currency trading is; how to invest in foreign currency; trading strategies and tactics; technological considerations; how to set up your account online; purchase currency online; day trader insights; current trends; Pivot Programs; price projectors; futures predicting; trading software; insider secrets to help you double or even triple your investment all while avoiding traps and pitfalls. In addition, we took the extra effort and spent an unprecedented amount of time researching, interviewing, e-mailing, and communicating with hundreds of today s most successful currency traders. Aside from learning the basics of currency trading you will be privy to their secrets and proven successful ideas. Instruction is great, but advice from experts is even better, and the experts chronicled in this book are earning millions. If you are interested in learning hundreds of hints, tricks, and secrets on how to earn enormous profits in currency trading while controlling your investments, then this book is for you.
Where Does the Money Go?: Your Guided Tour to the Federal Budget Crisis
by Scott Bittle
from Collins
From the editors of the award-winning nonpartisan Web site Public Agenda Online comes this irreverent and candid guide to the federal budget crisis that breaks down into plain English exactly what the fat cats in Washington are arguing about
Federal debt will affect your savings, your retirement, your mortgage, your health care, and your children. How well do you understand the government decisions that will end up coming out of your pocket?
Here is essential information that every American citizen needs—and has the right—to know. This guide to deciphering the jargon of the country's budget problem covers everything from the country's $9 trillion and growing debt to the fact that, for thirty-one out of the last thirty-five years, the country has spent more on government programs and services than it has collected in taxes. It also explores why elected leaders on every side of the fence have so far failed to effectively address this issue and explains what you can do to protect your future.
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