The Lunacy Of Modern Finance Theory And Regulation

Author: Les Coleman
Publisher: Routledge
ISBN: 1317662024
Size: 25.28 MB
Format: PDF, Kindle
View: 2469
Download Read Online

The Lunacy Of Modern Finance Theory And Regulation from the Author: Les Coleman. This provocative book provides insight into a finance industry that is run for the benefit of banks and service providers who rely on Beatles-era theories and regulation which are totally unsuited to the modern world. The author has a near-unique perspective based on over 30 years of working – literally around the globe – for corporates, fund managers and as finance academic. In his last role his research has focused on investment decisions, and during 2012 he interviewed 34 fund managers in Istanbul, London, New York and Melbourne. He blends rich understanding of finance theory and practice to unravel the investment industry’s structure and show how banks and other finance institutions privilege themselves at investors’ expense. The book highlights that finance industry self-regulation is weak. Risks from inexpertise, theft, bad data and other sources are high. Regulation of the industry appears to be ineffectual with the setting of such a high bar that it is virtually impossible to successfully prosecute even the most blatant and egregious offenders. The book closes with the simple suggestion that corporations’ regulations be altered to introduce the strict liability offence of being a director or officer of a large bank that becomes bankrupt. This follows the strategy of legislation that has been effective in cleaning up the environment, making workplaces safer and reducing crime by punishing those responsible for an offence.

Speculation Trading And Bubbles

Author: JosÂŽ A. Scheinkman
Publisher: Columbia University Press
ISBN: 0231537638
Size: 56.84 MB
Format: PDF, ePub
View: 1782
Download Read Online

Speculation Trading And Bubbles from the Author: JosŽ A. Scheinkman. The history of financial markets is full of moments in which asset prices inflate far beyond their intrinsic value. These events are commonly called bubbles, and in this book, JosŽ A. Scheinkman and other top economists offer new explanations for this phenomenon. Scheinkman discusses some stylized facts concerning bubbles, such as high trading volume and the coincidence between bubblesÕ implosion and increases in supply, and he develops a model for bubbles based on differences in beliefs among investors that explains these observations. Sandy Grossman and Patrick Bolton offer commentaries on ScheinkmanÕs work, investigating factors that contribute to bubbles, such as excessive leverage, overconfidence, mania, and panic in speculative markets. Kenneth J. Arrow and Joseph E. Stiglitz add introductory material contextualizing ScheinkmanÕs findings.

The Conscience Of A Liberal

Author: Paul Krugman
Publisher: W. W. Norton & Company
ISBN: 0393067114
Size: 77.86 MB
Format: PDF, Docs
View: 6241
Download Read Online

The Conscience Of A Liberal from the Author: Paul Krugman. "The most consistent and courageous—and unapologetic—liberal partisan in American journalism." —Michael Tomasky, New York Review of Books In this "clear, provocative" (Boston Globe) New York Times bestseller, Paul Krugman, today's most widely read economist, examines the past eighty years of American history, from the reforms that tamed the harsh inequality of the Gilded Age and the 1920s to the unraveling of that achievement and the reemergence of immense economic and political inequality since the 1970s. Seeking to understand both what happened to middle-class America and what it will take to achieve a "new New Deal," Krugman has created his finest book to date, a "stimulating manifesto" offering "a compelling historical defense of liberalism and a clarion call for Americans to retake control of their economic destiny" (Publishers Weekly). "As Democrats seek a rationale not merely for returning to power, but for fundamentally changing—or changing back—the relationship between America's government and its citizens, Mr. Krugman's arguments will prove vital in the months and years ahead." —Peter Beinart, New York Times

Octopus

Author: Guy Lawson
Publisher: Oneworld Publications
ISBN: 1780741235
Size: 22.79 MB
Format: PDF, Kindle
View: 2932
Download Read Online

Octopus from the Author: Guy Lawson. Octopus is a real-life thriller that tells the inside story of a GBP300 million hedge fund fraud and the wild-goose chase through Europe by its drug-fuelled manager for a lucrative "secret market" beneath the financial market we all know. Sam Israel was a man who seemed to have it all. Born into one of the world's richest families, he founded his own hedge fund, promising his investors guaranteed profits. But, after suffering devastating losses and faking tax returns, Israel knew his real performance would soon be discovered. So when a former CIA-operative turned conman told him about a "secret market" run by the Federal Reserve, Israel bet his last $150 million of other people's money on a chance to make it all back. So began his crazy year-long adventure in a world populated by clandestine bankers, conspiracy theories, and gun-toting spooks issuing cryptic warnings about a mysterious cabal known only as the Octopus.

The Big Short Inside The Doomsday Machine Movie Tie In

Author: Michael Lewis
Publisher: W. W. Norton & Company
ISBN: 0393353168
Size: 76.49 MB
Format: PDF, Mobi
View: 1206
Download Read Online

The Big Short Inside The Doomsday Machine Movie Tie In from the Author: Michael Lewis. The #1 New York Times bestseller—Now a Major Motion Picture from Paramount Pictures From the author of The Blind Side and Moneyball, The Big Short tells the story of four outsiders in the world of high-finance who predict the credit and housing bubble collapse before anyone else. The film adaptation by Adam McKay (Anchorman I and II, The Other Guys) features Academy Award® winners Christian Bale, Brad Pitt, Melissa Leo and Marisa Tomei; Academy Award® nominees Steve Carell and Ryan Gosling. When the crash of the U.S. stock market became public knowledge in the fall of 2008, it was already old news. The real crash, the silent crash, had taken place over the previous year, in bizarre feeder markets where the sun doesn’t shine and the SEC doesn’t dare, or bother, to tread. Who understood the risk inherent in the assumption of ever-rising real estate prices, a risk compounded daily by the creation of those arcane, artificial securities loosely based on piles of doubtful mortgages? In this fitting sequel to Liar’s Poker, Michael Lewis answers that question in a narrative brimming with indignation and dark humor.

Modern Economic Regulation

Author: Christopher Decker
Publisher: Cambridge University Press
ISBN: 1139992139
Size: 66.82 MB
Format: PDF, ePub, Mobi
View: 2784
Download Read Online

Modern Economic Regulation from the Author: Christopher Decker. Drawing from the most recent work on economic regulation, this book introduces readers to the main principles and examines how economic regulation is applied in four key public utility industries - electricity, gas, water and telecommunications. Written for students and practitioners with little prior knowledge of economic regulation, this is an accessible, non-technical entry point to the subject area, exploring the fundamental questions: Why do we regulate? What are alternatives to regulation? Which institutions are involved in regulation? What have been the impacts of regulation? Readers will gain a clear understanding of the basic principles that apply to all regulated sectors, as well as the regulatory choices that reflect the specific economic and physical characteristics of different industries. Case studies demonstrate connections between regulatory theory and practice, and extensive references provide readers with resources for more in-depth study.

The Undercommons

Author: Stefano Harney
Publisher:
ISBN: 9781570272677
Size: 55.37 MB
Format: PDF, Docs
View: 689
Download Read Online

The Undercommons from the Author: Stefano Harney. In this series of essays Fred Moten and Stefano Harney draw on the theory and practice of the black radical tradition as it supports, inspires and extends contemporary social and political thought and aesthetic critique. Today the general wealth of social life finds itself confronted by mutations in the mechanisms of control, from the proliferation of capitalist logistics through governance by credit and management of pedagogy. Working from and within the social poesis of life in the undercommons Moten and Harney develop and expand an array of concepts.

Antifragile

Author: Nassim Nicholas Taleb
Publisher: Random House
ISBN: 0679645276
Size: 77.36 MB
Format: PDF, ePub
View: 599
Download Read Online

Antifragile from the Author: Nassim Nicholas Taleb. Antifragile is a standalone book in Nassim Nicholas Taleb’s landmark Incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decision-making in a world we don’t understand. The other books in the series are Fooled by Randomness, The Black Swan, and The Bed of Procrustes. Nassim Nicholas Taleb, the bestselling author of The Black Swan and one of the foremost thinkers of our time, reveals how to thrive in an uncertain world. Just as human bones get stronger when subjected to stress and tension, and rumors or riots intensify when someone tries to repress them, many things in life benefit from stress, disorder, volatility, and turmoil. What Taleb has identified and calls “antifragile” is that category of things that not only gain from chaos but need it in order to survive and flourish. In The Black Swan, Taleb showed us that highly improbable and unpredictable events underlie almost everything about our world. In Antifragile, Taleb stands uncertainty on its head, making it desirable, even necessary, and proposes that things be built in an antifragile manner. The antifragile is beyond the resilient or robust. The resilient resists shocks and stays the same; the antifragile gets better and better. Furthermore, the antifragile is immune to prediction errors and protected from adverse events. Why is the city-state better than the nation-state, why is debt bad for you, and why is what we call “efficient” not efficient at all? Why do government responses and social policies protect the strong and hurt the weak? Why should you write your resignation letter before even starting on the job? How did the sinking of the Titanic save lives? The book spans innovation by trial and error, life decisions, politics, urban planning, war, personal finance, economic systems, and medicine. And throughout, in addition to the street wisdom of Fat Tony of Brooklyn, the voices and recipes of ancient wisdom, from Roman, Greek, Semitic, and medieval sources, are loud and clear. Antifragile is a blueprint for living in a Black Swan world. Erudite, witty, and iconoclastic, Taleb’s message is revolutionary: The antifragile, and only the antifragile, will make it. Praise for Antifragile “Ambitious and thought-provoking . . . highly entertaining.”—The Economist “A bold book explaining how and why we should embrace uncertainty, randomness, and error . . . It may just change our lives.”—Newsweek “Revelatory . . . [Taleb] pulls the reader along with the logic of a Socrates.”—Chicago Tribune “Startling . . . richly crammed with insights, stories, fine phrases and intriguing asides . . . I will have to read it again. And again.”—Matt Ridley, The Wall Street Journal “Trenchant and persuasive . . . Taleb’s insatiable polymathic curiosity knows no bounds. . . . You finish the book feeling braver and uplifted.”—New Statesman “Antifragility isn’t just sound economic and political doctrine. It’s also the key to a good life.”—Fortune “At once thought-provoking and brilliant.”—Los Angeles Times From the Hardcover edition.

Seeing Like A State

Author: James C. Scott
Publisher: Yale University Press
ISBN: 9780300078152
Size: 28.55 MB
Format: PDF, Kindle
View: 7072
Download Read Online

Seeing Like A State from the Author: James C. Scott. An analysis of diverse failures in high-modernist, authoritarian state planning. It covers projects such as collectivization in Russia and the building of Brasilia, arguing that any centrally-managed social plan must recognize the importance of local customs and practical knowledge.

The Oxford Handbook Of White Collar Crime

Author: Shanna R. Van Slyke
Publisher: Oxford University Press
ISBN: 0199925526
Size: 54.68 MB
Format: PDF
View: 3793
Download Read Online

The Oxford Handbook Of White Collar Crime from the Author: Shanna R. Van Slyke. Although white-collar crime has caused a substantial amount of damage on both the individual and societal levels, it often ranks below street crime as a matter of public concern. Thus, white-collar crime remains an ambiguous and even controversial topic among academics, with a relative dearth of scholarly focus on the issue. The Oxford Handbook of White-Collar Crime offers a comprehensive treatment of the most up-to-date theories and research regarding white-collar crime. Contributors tackle a vast range of topics, including the impact of white-collar crime, the contexts in which white-collar crime occurs, current crime policies and debates, and examinations of the criminals themselves. The volume concludes with a set of essays that discuss potential responses for controlling white-collar crime, as well as promising new avenues for future research. Uniting conceptual theories, empirical research, and ethnographic data, the Handbook provides the first unified analytic framework on white-collar crime. Given the astronomical aggregate losses to victims, building a more nuanced understanding of the dynamics of white-collar crime is a topic of immediate social concern. The definitive resource on white-collar crime, this Handbook will be a valuable resource for developing both intellectual and policy-related solutions.