Showing posts with label Financial Capital. Show all posts
Showing posts with label Financial Capital. Show all posts

Tuesday, June 4, 2013

An Introduction to International Capital Markets: Products, Strategies, Participants


An Introduction to International Capital Markets: Products, Strategies, Participants 2nd Edition PDF Download Ebook. Andrew M. Chisholm offers accessible and convenient one-volume introduction to international capital markets, ideal for those entering or planning to enter investment banking or asset management.

As well as serving as an invaluable reference tool for professionals already working in the industry looking to extend their knowledge base it will also benefit all those working in trading, sales and support roles. Describing how the key products and markets work, who the principle participants are and their overall goals and objectives, Andrew Chisholm provides a thorough overview of the global capital markets.

The book covers a wide range of equity, debt, foreign exchange and credit instruments as well as the principal derivative products. In a step-by-step fashion, making extensive use of real world cases and examples, it explains money markets, foreign exchange, bond markets, cash equity markets, equity valuation techniques, swaps, forwards, futures, credit derivatives, options, option risk management and convertible bonds.

An extensive glossary also explains concisely many of the 'jargon' expressions used in the financial markets. Boasting an international focus, examples are drawn from major international markets around the world. It makes extensive use of numerical examples and case studies to help explain a wide range of cash and derivative products used in the capital markets business.

It covers both debt and equity products and includes new material on credit products such as collateralized debt obligations and credit derivative structures; equity fundamental analysis, portfolio theory and convertible bonds. Market data has been fully updated from the first edition and recent events such as the 'credit crisis' are discussed.

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Bond Portfolio Investing and Risk Management, Vineer Bhansali


Bond Portfolio Investing and Risk Management PDF Download Ebook. Vineer Bhansali helps you build portfolios to add value through every kind of economic cycle. Sharing his years of experience constructing robust, wellperforming portfolios that have navigated recurring crises, PIMCO portfolio manager Vineer Bhansali explores the various risk factors inherent in fixed income investments, including yield curve shifts, twists, liquidity, and evolving risk factors such as government policy.

Under an option-theory based riskand- return framework, you will gain intimate knowledge of the right valuation, investment, and risk management tools and confidently put them to use in practical portfolio construction. Basing his conclusions on his own expertise and the latest academic and practitioner research, Bhansali provides valuable insight into topics you would be hard-pressed to find elsewhere, such as option-based building blocks to valuation, measuring liquidity and stress risks.

Other topics include asset selection and risk factors, building state-of-the-art macro models, inefficiencies in the markets, cross-market relationships, forecasting returns and risks, measuring and managing tail risk. Author simplifies the concepts you need to understand--without making them simplistic. It offers the newest research-based frameworks for approaching the risks with the greatest likelihood to pay off and walking away from those that won't.

While state of the art in its content, the book emphasizes a commonsense approach that has weathered the test of time and market volatility. From one of the most knowledgeable people in the business, this text may be the most thorough, up-to-date book you will find for constructing highly effective toolkits faster and better than ever before.

This book delves comprehensively, but intuitively, into the various risk factors and delivers the tools to understand, measure, control, and take advantage of risk premiums in practical fixed income investing. As the financial crisis has made all too clear, this book's unifying treatment of risk and return is essential for all bond investors.

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Wednesday, May 29, 2013

Hedge Fund Market Wizards: How Winning Traders Win


Hedge Fund Market Wizards: How Winning Traders Win PDF Download Ebook. Jack D. Schwager and Ed Seykota show how to effectively manage capital. The book will have strong appeal to three main audiences; those managing capital professionally, those evaluating professional money managers, and those readers who want to manage their own money more effectively.

The fact that markets and the money management industry have gone through tumultuous change makes the central message of the book all the more powerful that the key ingredients to successful performance are timeless and true in radically different environments. Those ingredients, an appreciation for the balance of risk versus reward in a trade, discipline, adaptability, an open mind, and intellectual honesty that enables one to learn from mistakes, come to life in Schwager's riveting interviews with a number of managers.

The character stories highlight their very different personalities and lifestyles. But it is Schwager's unique ability to illustrate their winning strategies and interweave their personal backgrounds and emotional highs and lows that makes Hedge Fund Market Wizards both a highly entertaining read and learning experience. What most jumps out at the reader is how radically different styles and approaches all share the common traits mentioned above.

By exemplifying these traits in a number of managers with seemingly different investment philosophies, whether it will be short term vs. long term trading, large capital or small, or technical vs. fundamental analysis, Schwager is able to better highlight their essential importance to successful investing. By highlighting their differences, the common thread of their similarities is much more evident. Schwager reinforces the message with succinct summaries of what these commonalities are throughout the book.

Whether a reader is a professional money manager or simply managing their own capital, I have no doubt they will find Hedge Fund Market Wizards both entertains and enhances their ability to grow their capital. Exploring what makes a great trader a great trader, this book breaks new ground, giving readers rare insight into the trading philosophy and successful methods employed by some of the most profitable individuals in the hedge fund business.

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Option Volatility & Pricing: Advanced Trading Strategies and Techniques


Option Volatility & Pricing: Advanced Trading Strategies and Techniques. Sheldon Natenberg points out the key concepts essential to successful trading. Drawing on his experience as a professional trader, author Sheldon Natenberg examines both the theory and reality of option trading. He presents the foundations of option theory explaining how this theory can be used to identify and exploit trading opportunities.

This book teaches you to use a wide variety of trading strategies and shows you how to select the strategy that best fits your view of market conditions and individual risk tolerance. New sections include expanded coverage of stock option, strategies for stock index futures and options, broader, more in-depth discussion volatility, analysis of volatility skews and intermarket spreading with options.

If you trade options, you will quickly learn that it is essential to understand the concept of volatility. Natenberg explains the concept of volatility in great detail, and shows how this concept applies to different option positions.

Natenberg not only takes great pains to explain the concept of volatility, in addition to other inputs into an option pricing model, but clearly shows that option pricing isn't the exact science many seem to believe, for the simple reason that we never know if our volatility estimate is correct. I suspect many traders just don't understand the severe limitations current models have in different situations.

One of the most widely read books among active option traders around the world, this book has been completely updated to reflect the most current developments and trends in option products and trading strategies.

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Thursday, May 16, 2013

Theory of Asset Pricing by George Pennacchi


Theory of Asset Pricing PDF Download Ebook. George Pennacchi unifies the central tenets and techniques of asset valuation into a single, comprehensive resource that is ideal for the first PhD course in asset pricing.

By striking a balance between fundamental theories and cutting-edge research, Pennacchi offers the reader a well-rounded introduction to modern asset pricing theory that does not require a high level of mathematical complexity. A user-friendly presentation builds student knowledge, offering equal exposure to technical rigor and motivating discussions.

Coverage of current valuation techniques includes single- and multi-period models; models set in discrete-time and continuous-time; and models of endowment economies and production economies. A broad range of up-to-date topics—including derivatives, and default-free and defaultable fixed income securities—provides the most current research.

Recent modeling of non-time-separable utility and utility that reflects behavioral biases is included, in addition to models of standard, time-separable expected utility functions. While much of the analysis makes standard “perfect markets” assumptions, the book also examines the effects of asymmetric information on trading and asset prices. End-of-chapter summaries and exercises reinforce concepts presented in the text.

George G. Pennacchi is a professor of finance and a co-director of the Office for Banking Research at the University of Illinois at Urbana-Champaign. He is also a Research Associate at the Federal Reserve Bank of Cleveland and the Program Coordinator for Deposit Insurance at the Federal Deposit Insurance Corporation’s Center for Financial Research. His research focuses on financial intermediaries and the valuation of fixed-income securities and government guarantees.

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Private Equity: History, Governance, and Operations 2e


Private Equity: History, Governance, and Operations 2nd Edition PDF Download Ebook. Harry Cendrowski, Louis W. Petro, James P. Martin and Adam A. Wadecki offer authoritative guide to understanding the world of private equity (PE) investing, governance structures, and operational assessments of PE portfolio companies.

An essential text for any business/finance professional's library, this book begins by presenting historical information regarding the asset class. This information includes historical fundraising and investment levels, returns, correlation of returns to public market indices, and harvest trends. The text subsequently analyzes PE fund and portfolio company governance structures. It also presents ways to improve existing governance structures of these entities.

Starting with a thorough overview of the history of private equity (PE), how governance structures differ between private equity portfolio companies and those of public corporations, and how the operations of PE portfolio companies can be improved, this book provides valuable information for a broad spectrum of readers, including high net-worth individuals, accountants and auditors, and private equity portfolio managers.

A specific focus on portfolio company operations, including due diligence assessments, concludes the text. It seamlessly blends historical information with practical guidance based on risk management and fundamental accounting techniques. It assists the book's professional audience in maximizing returns of their PE investments. It is highly conducive to advanced, graduate-level classroom use.

Purchase of the text includes access to a website of teaching materials for instructional use. You can learn more about PE history, governance, and operations with this book. Filled with a wealth of detail, practice tips, and examples, it brings together an investment dream team to provide you with an indispensable reference on various private equity issues.

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Inside Private Equity: The Professional Investor's Handbook


Inside Private Equity: The Professional Investor's Handbook PDF Download Ebook. James M. Kocis, James C. Bachman IV, Austin M. Long III and Craig J. Nickels offer an exhaustive review of internal rate of return (IRR) calculations, various peer universes and benchmarks with tools that will help you uncover both how and where wealth was gained and lost.

This text examines the effect portfolio size has on performance expectations, explores two different modeling techniques for cash management and much more. By providing straightforward explanations and detailed examples of the concepts covered, this book demystifies many of the common assumptions about this asset class and puts the various pieces of the private equity puzzle in perspective.

A growing number of financial institutions and professionals are investing in private equity for its diversification benefits and the opportunity to participate in substantial long-term gains. But many are finding it difficult to manage things they can't always measure. Filled with in-depth insights and expert advice, this book focuses on what you can measure and how this process will allow you to better manage these assets—as well as your time.

Private equity, the business of investing in private companies, has quickly grown from a cottage industry to a mature asset class. For those that supply the money—the endowments, foundations, pension funds, family offices, and others—learning the business of private equity can be one of its principle challenges.

This book was written for this audience to help provide a general understanding of how to invest in, monitor, and measure the performance and risk of private equity. Authors share their broad range of private equity experience to help demystify this asset class.

Divided into four comprehensive parts—Setting the Foundation, Measurements and Comparisons, Topics on Risk, and Conclusions—Inside Private Equity opens with a brief introduction to this discipline and sets the stage for more technical discussions to follow. Here, you'll become familiar with everything from traditional industry measurements to a structured approach to portfolio management.

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Wednesday, May 15, 2013

International Private Equity by Eli Talmor and Vasvari


International Private Equity PDF Download Ebook. Eli Talmor and Vasvari provide valuable overview of the private equity industry by using the studies to exemplify all stages of the deal process, and to illustrate such key topics as investing in emerging markets; each chapter guides the reader with an authoritative narrative on the topic treated.

Covering all the main aspects of the private equity model, the book includes treatment of fund raising, fund structuring, fund performance measurement, private equity valuation, due diligence, modeling of leveraged buyout transactions, and harvesting of private equity investments. Bringing a unique joint practitioner and academic perspective to the topic, this is the only available text on private equity truly international in focus.

Examples are drawn from Europe the Middle East, Africa and America with major case studies from a wide range of business sectors, from the prestigious collection of the London Business School’s Coller Institute of Private Equity. The case studies, taken from the collection of the London Business School's prestigious Coller Institute of Private Equity, are used to exemplify and illustrate all stages of the private equity deal process.

To provide a context for these illustrative case studies, which make up the last section of the book, it first covers all of the main aspects of the private equity model. Part one provides an overview of the subject and a private equity fund level analysis, including coverage of fund economics, fund performance measurement, private equity investments in emerging markets, fund due diligence, fund accounting, the secondaries market for fund interests and alternative fund structures such as fund of funds and listed private equity funds.

Part two moves onto analysis at deal level, and covers topics such as valuation of private equity companies, deals analysis and due diligence, LBO transactions and modeling, post deal execution and the harvesting of private equity investments. Part three deals with early stage investing and includes chapters on Business Angel investing and Venture Capital.

This unprecedented access to the Coller Institute's collection of case studies, combined with comprehensive and timely coverage of this important topic, makes this book an indispensible guide for students and practitioners alike.

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Tuesday, May 14, 2013

A Behavioral Approach to Asset Pricing 2e, Hersh Shefrin


A Behavioral Approach to Asset Pricing 2nd Edition PDF Download Ebook. Hersh Shefrin provides the most up-to-date and comprehensive discussion of how psychology affects market activity. The key message remains: that the future of asset pricing theory lies in bringing together the powerful SDF-based tools adopted by neoclassical asset pricing theorists and the more realistic assumptions adopted by behavioral asset pricing theorists.

The most important equation in the first edition is the decomposition of the log-SDF into sentiment and a fundamental component. In the second edition, Shefrin extends the analysis to demonstrate how this equation can be generalized to encompass the combination of behavioral preferences and behavioral beliefs. This generalization provides a unified approach that ties together the main ideas in the book.

Behavioral finance is the study of how psychology affects financial decision making and financial markets. It is increasingly becoming the common way of understanding investor behavior and stock market activity. In this 2nd Edition Hersh Shefrin examines the reigning assumptions of asset pricing theory and reconstructs them to incorporate findings from behavioral finance.

In other words, he takes the traditional tools in asset pricing and behavioralizes them. He constructs a solid, intact structure that challenges classic assumptions and at the same time provides a strong theory and efficient empirical tools. Building on the models developed by both traditional asset pricing theorists and behavioral asset pricing theorists, Shefrin's book takes the discussion to the next step.

Author provides a general behaviorally based intertemporal treatment of asset pricing theory that extends to the discussion of derivatives, fixed income securities, mean-variance efficient portfolios, and the market portfolio, based on all the latest research and theory.

This book provides a much-needed bridge between behavioral finance and traditional asset pricing theory, so that the insights that the two fields offer can complement each other. This book will make the theory of behavioral finance far more useful and broadly applicable.

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Tuesday, May 7, 2013

Project Financing: Asset-Based Financial Engineering 3e


Project Financing: Asset-Based Financial Engineering 3rd Edition PDF Download Ebook. John D. Finnerty offers completely new chapters on Sharia-compliant project financing as well as the analysis and financing of renewable/sustainable projects. Here, you'll gain a firm understanding of how Sharia-compliant financing can be tailored to large projects in Islamic regions of the world and discover the special considerations that come into play with renewable/sustainable project financing.

In order to keep up with this dynamic discipline, you need the most up-to-date information possible. That's why author John Finnerty has returned with the Third Edition of Project Financing. While written to reflect current conditions—and address how project financing continues to enjoy a prominent place among the most important financing techniques in the global economy—this reliable resource still remains true to the previous edition's successful approach of making a complex topic understandable.

Using updated examples and case studies, including Euro Disneyland, the Eurotunnel Project, and a cogeneration project, that skillfully illustrate how to apply the analytical techniques described in the book, this new edition covers the rationale for project financing, how to prepare the financial plan, assess the risks, design the financing mix, raise the funds, and much more.

Drawing on his vast experience in the field, Finnerty details each step of the process, describing the circumstances in which it is most likely to be advantageous, how to craft contractual arrangements to allocate risks and rewards among interested parties, and how to deal with government, legal, tax, and financial issues. Along the way, Finnerty offers up-to-date insights on everything from how political risks can adversely affect a project and modeling project cash flows to international debt financing.

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Monday, May 6, 2013

Budgeting Basics and Beyond 4th Edition, Jae K. Shim


Budgeting Basics and Beyond 4th Edition PDF Download Ebook. Jae K. Shim, Joel G. Siegel and Allison I. Shim offer convenient and up-to-date reference tool for today's financial and nonfinancial managers in public practice and private industry. It provides the direction you need to establish clearer goals and handle any type of budgeting problem that comes up—and beyond.

With a greater focus on technological applications including e-budgeting and Web-based budgeting systems, the new edition also includes a brand new chapter on budgeting for cost management, providing a more well-rounded view on effective budgeting today.

If the very thought of budgets pushes your sanity over the limit, then this practical, easy-to-use guide is just what you need. Budgeting Basics and Beyond, Fourth Edition equips you with an all-in-one resource guaranteed to make the budgeting process easier, less stressful, and more effective. The new edition covers rolling budgets (forecasts), activity-based budgeting, life-cycle budgeting. Cloud computing, Balanced Scorecard, budgeting for nonprofit organizations, business simulations for executive and management training, and much more!

This text includes several new software packages, computer-based models and spreadsheet applications, including Value Chain Management software, Financial Planning and Performance software, Web 2.0, Cloud computing, and capital budgeting software. It features case studies, illustrations, exhibits, forms, checklists, graphs, samples, and worked-out solutions to a wide variety of budgeting, planning, and control problems.

Author offers financial planning and new types of financial modeling, variance analysis, Web-based budgeting, active budgeting illuminating "what-if" analyses throughout, spreadsheet applications, break-even analysis, project analysis, and capital budgeting. It is a practical, easy-to-use problem-solver and up-to-date reference tool for today's financial and nonfinancial managers in public practice and private industry.

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Investments 9th Edition by Zvi Bodie, Kane and Marcus


Investments 9th Edition PDF Download Ebook. Zvi Bodie, Alex Kane and Alan Marcus offer practical and theoretical coverage, while maintaining an appropriate rigor and a clear writing style. Its unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes.

The text places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. It is also the only graduate Investments text to offer an online homework management system, McGraw-Hill’s Connect Finance.

Words from the Street boxed readings contain short articles from business periodicals that enliven, reinforce and apply the material within the context of the real-world. The authors continue to present material in a framework that is organized by a central core of consistent fundamental principles. As such, they have stripped away unnecessary mathematical and technical detail to concentrate on providing the intuition to guide students and practitioners in their professional lives.

This book devotes considerable attention to Modern Portfolio Theory, which focuses on the techniques and implications of efficient diversification for the proper measurement of risk and the risk-return relationship. It provides complete coverage of futures, options and other derivative security markets. These markets have become crucial and integral to the financial universe and are the major sources of innovation in that universe. Understanding these markets is extremely important to finance professionals as well as to the sophisticated individual investor.

To link theory with practice, the authors approach is consistent with that of the CFA Institute. End of chapter problem sets contain questions from past CFA exams (identified with an icon and now separated into their own section). The Appendix at the back of the book lists each CFA question in the text and the exam from which it was taken. Also, Chapter 3 includes excerpts from the "Code of Ethics and Standards of Professional Conduct" of the CFA Institute. Chapter 28, which discusses investors and the investment process, is modeled after the CFA Institutes framework.

End of chapter questions that require the use of Standard & Poor’s Educational Version of Market Insight. Access to this online resource is free with each new copy of the book. The site contains quantitative and qualitative data on over 1000 top companies; it is powered by S&P’s renowned COMPUSTAT® database.

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Venture Capital and the Finance of Innovation 2e, Metrick


Venture Capital and the Finance of Innovation 2nd Edition PDF Download Ebook. Andrew Metrick and Ayako Yasuda describe the principles of finance and the financial models that underlie venture capital decisions. It presents a new unified treatment of investment decision making and mark-to-market valuation.

The discussions of risk-return and cost-of-capital calculations have been updated with the latest information. The most current industry data is included to demonstrate large changes in venture capital investments since 1999. The coverage of the real-options methodology has also been streamlined and includes new connections to venture capital valuation. In addition, venture capitalists will find revised information on the reality-check valuation model to allow for greater flexibility in growth assumptions.

In this book, future and current venture capitalists will find a useful guide to the principles of finance and the financial models that underlie venture capital decisions. Assuming no knowledge beyond concepts discovered in first-year MBA courses, the book will familiarize you with the relationships between risk and return in venture capital, total Valuation-the data and methods used to value a high-growth company.

Author also introduce partial Valuation-how to visualize and evaluate the special features of VC transactions such as convertible preferred stock, participating preferred stock, payment-in-kind dividends, and liquidation preferences with new rankings of the best venture capitalists. New web-based model (VCVtools.com) is aimed for allowing easy visualization and valuation so multiple term sheets in a start-up. There is also discussion of challenges facing venture capital in the second decade of the 21st century.

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Sunday, May 5, 2013

The Business of Venture Capital by Mahendra Ramsinghani


The Business of Venture Capital: Insights from Leading Practitioners on the Art of Raising a Fund, Deal Structuring PDF Download Ebook. Mahendra Ramsinghani describes the entire spectrum of this field, from raising funds and structuring investments to assessing exit pathways. It is the first book of its kind to focus on the four critical pillars of the venture capital business raising the fund, sourcing and structuring investments, creating value as a board member, and finally, leading investments to exits.

Written by a practitioner for practitioners, the book provides the necessary breadth and depth, simplifies the jargon, and balances the analytical logic with experiential wisdom. Starting with a Foreword by Mark Heesen, President, National Venture Capital Association (NVCA), this important guide includes insights and perspectives from leading experts.

This text covers the process of raising the venture fund, including identifying and assessing the Limited Partner universe; fund due-diligence criteria; and fund investment terms in Part One. Author discusses the investment process, including sourcing investment opportunities; conducting due diligence and negotiating investment terms; adding value as a board member; and exploring exit pathways in Part Two.

This book offers insights, anecdotes, and wisdom from the experiences of best-in-class practitioners. It also includes interviews conducted by Leading Limited Partners/Fund-of-Funds with Credit Suisse, Top Tier Capital Partners, Grove Street Advisors, Rho Capital, Pension Fund Managers, and Family Office Managers.

Those aspiring to raise a fund, pursue a career in venture capital, or simply understand the art of investing can benefit from this book. The companion website offers various tools such as GP Fund Due Diligence Checklist, Investment Due Diligence Checklist, and more, as well as external links to industry white papers and other industry guidelines.

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Financial Analysis with Microsoft Excel 6th Edition


Financial Analysis with Microsoft Excel 6th Edition PDF Download Ebook. Timothy R. Mayes and Todd M. Shank show how to tap into some of Excel 2010's most powerful tools to solve real financial problems. The book's solid content addresses today's most important corporate finance topics, including financial statements, budgets, the Market Security Line, pro forma statements, cost of capital, equities, and debt.

This edition now covers Excel tables, pivot tables and pivot charts and other areas that have become increasingly important to today's employers. The book's reader-friendly, self-directed learning approach and numerous study tools help readers build upon basic skills for the Excel 2010 proficiency and the solid finance knowledge business professionals need for success.

This proven, reader-friendly text introduces the basics of using spreadsheet as well as maximizing Excel® 2010 to build basic financial statements. After establishing a solid foundation, the book launches into more advanced techniques for performance evaluation, forecasting, valuation, and capital budgeting.

This edition offers more than a mere spreadsheet book or a text filled with spreadsheet templates. This trusted financial resource offers all of the advantages of a solid, thorough finance text while equipping your students to effectively solve financial problems using Excel® 2010. The reader-friendly approach begins at a basic introductory level that's ideal for students who are not very familiar with Excel®.

Topics quickly advance to challenge those entering the course with a basic understanding of spreadsheets. Now you can introduce your students to more advanced, powerful Excel® skills, such as using web queries to download and work with Internet data. New coverage also delves into using pivot tables, one of the most powerful Excel® features for extracting, summarizing and presenting data in readable form.

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