market-economics

Allen delivers the most insightful look at market risk management for dealers since the Group of 30 Report. While other books are taking on an increasingly bureaucratic tone when it comes to risk management, Allen is refreshingly proactive. I really like the treatment of valuation reserves. His discussion of managing spot, forward and options risks bridges the gap between what a trader is thinking and what a risk manager should be thinking. This isn't a book for the sort of risk manager who hasn't been on the trading floor in a few months. It is a tactical book for the pro who works shoulder to shoulder with quants, traders and salespeople. Note that the book is qualitative. For the quantitative side of all this, see Holton's landmark "Value-at-Risk".

This is a must buy book for both kinds of people: students or people in academia and practitioners who want to understand different type of risk they face at a macro or micro level. The reasons I like this book on risk management better than thousand others already out there are following. I like to describe this book as having two sections, both the sections are very important and people can focus on either depending on what they are looking for. The first part of the book provides a very good understanding of the risks faced by managers, for example risk managers, head of a trading portolfio or a desk or even CEOs. Very often these people face risk which are hard to quantify or even understand and are not often talked about. The author draws from personal experience and provides interesting case studies,. which makes this part of the book a pleasure to read. I learnt about model risk, reputation risk and other such risks which typically a junior person on a trading desk is not exposed to. So this understanding is very valuable in order to communicate with your boss or to get more insights about risks that management may care about.
The Second part of the book focusses on risk management of different type of instruments, instruments range from plain vanilla to complex path dependent options. It spans through assets classes as well. As promised by the author, the level of mathematical and quantitative background required is kept to the minimum. The text provides intuition about what market variables or market moves a specific instruments depends on rather than complex formulae to price such instruments. For somebody like me, who has a little more mathematical background than an average reader, the text points to latest research or specific papers that I can explore if I want to flex my quantitative muscle.
The book is full of very interesting exercises and case studies, which are truly practical. This is something which is completely different from many texts that I have seen on this topic.
Overall, I highly recommend this book to anybody who has anything to do with trading financial instruments.

Peter Kwong's "Forbidden Workers" is a powerful analysis of working class struggle in the United States. Mr. Kwong effectively connects his study of labor struggles within the illegal Chinese immigrant community to outside macroeconomic forces. It is the author's contention that the exploitation of illegal workers is key to understanding the restructuring of capital/labor relations within the U.S. in the postindustrial era.

Mr. Kwong is a resident of New York and has close ties to the Chinese community. His solid academic scholarship combines with real-world activism to present a contemporary assessment of illegal Chinese labor. Much of the book is dedicated to then current events (early to mid 1990s), such as the well-known Golden Adventure incident and lesser-known strikes against Chinese-owned businesses, among many others. The author convincingly supplants the mainstream's stereotypical image of docile and complacent Chinese labor with a more complex and disturbing picture of a frightened, indebted and exploited workforce that is barely able to subsist on the fringes of society.

Mr. Kwong's mastery of Chinese-American history is evident throughout the book. He provides the reader with useful background material on a number of relevant events, from the Chinese Labor Exclusion Act of 1882 to the enlistment of Chinese seamen in World War II. The author helps us understand the cultural and economic factors that have prompted many Chinese-Americans to develop thriving but insular and crime-ridden Chinatowns in major cities across the U.S.

The failures of government policy and organized labor are critiqued at length. Mr. Kwong shows how capitalism has effectively co-opted the democratic institutions in this country that are supposed to help the working class. For example, the government's lack of enforcement of labor laws (including, of course, immigration policy) and the union movement's out-of-touch leadership combined with close ties to corporate management are cited as critical factors that explain why labor laws are routinely violated.

Importantly, the author reasserts the dignity of human labor, suggesting that the defense of workers' rights should not come at the risk of deportation. In fact, it is this vulnerability that allows unscrupulous employers to exploit workers with impunity. The resulting worker fear and insecurity has been a crucial factor in helping capital depress wages among all workers, Mr. Kwong explains.

In short, Mr. Kwong's important book does much to explain why the American dream is increasingly becoming a nightmare for the working class in general and particularly among illegal Chinese-Americans. But the author also suggests that a reinvigorated labor movement dedicated to grass-roots democracy can point the way to a better future. I highly recommend this book to readers interested in learning more about labor relations and the Chinese-American struggle.

This amazing book looks at the lives of Illegal Chinese workers in America and how actors from gangs to the INS have conspired to keep them underground and exploited. Fast read and totally amazing eye opener. It will make you think twice when you read "Made in the USA."

I strongly feel that The Force of Finance must be on the desks of all current and aspiring leaders who want to bring prosperity to their people.

Dr. Brenner shows and proves that 'democratised capital markets' are the bringer of prosperity, and the bringer of the governments and institutions worthy of generating and sustaining the back-cloth of trust. Writing in the vein of Ronald Coase, Peter Bauer and Friedrich Hayek, he explains that 'political democracy' can only come about by capitalism at the grass-roots... because "mercantile interests are diverse, not dogmatic"...

Moreover, Dr. Brenner explains the emergence of Pax American w.r.t. 'democratised capital markets' (i.e. highly competitive banks, underwriters, venture capitalists, etc.); for US capital markets create an exceptional 'trial-by-error' meritocracy:

(i) alluring the creme de la creme from around the world, and (ii) reshaping - bottom up - regulatory bodies and political parties.

Dr. Brenner is covetous for solid research, and understands the wisdom in the dictum: "Persuade with facts, not speech!" Also, he has a remarkably vivid writing style, free of jargon, free of gerrymandering...

After careful reading - and re-reading - The Force of Finance, I find credit and collateral to be vital in creating a mobile people, bubbling new riches, ideas and experiments.

Dr. Brenner is a bearer of light! I can say no more, I will say no less.

Reuven Brenner, an intense, dynamic, and iconoclast economist, has entered a very weighty two cents into the current thought on the world economy with this new book.

With multiple clear examples of politics and history, he shows the difference between America's open capital markets and most of the world's nations closed capital markets, and why America has been at the forefront of econonomic and capitalist development for more than 50 years.

His main argument: Citizens of any nation should have access to capital in order to embark on ventures that will produce profit. The most valuable resource any nation has are its talented citizens, by denying them access to the ability to be entrepreneurs, the nation is hurting itself and its growth. The answer: Let them access the resources they need, but hold both sides accountable. It won't keep an Enron from happening, but it will keep it from happening again, as is obvious with new accounting reforms.

Using examples from pre/post Communist Russia, Latin America, Islamic Fundamentalist states, and budding open capital markets, Brenner proves that any system that restricts access to capital is doomed to fail. Sure to open your mind and expose you to the true story of the global economy, The Force Of Finance is the penultimate book on how to turn a third world nation into a modern state that is living up to its potential.

I highly recommend this how-to book for newbies. While this book is ten years old, it has stood the test of time. It is absolutely a classic on using the "First-to-Invent" patent system for new inventors that are just starting out. It is written in a parable style which makes it easy and engaging to read. It is packed with how-to information on researching the marketability of a product and includes sample forms for disclosure documents, nondisclosure agreements and idea evaluation. Several changes have taken place since '95 in regards to the length of a patent, fees, and PPA which should be researched in conjunction with this book. Otherwise, it is an excellent foundation.

The only better way to gain the insights Gary Lynn shares in this book is to invest years of time and tens if not hundreds of thousands of dollars to found a company around a new product The information in this book is useful for the neophyte as well as for those with deep experience in product development

After a few years in waiting, I am glad to see that the Bond Market Association has released the 5th addition of The Fundamentals of Municiple Bonds. The author of this book did a great job capturing the signifigance of the municiple bond, and exaplining it clearly with graphs and charts. I highly recomend this book and give it a 5 star rating.

This book was amazing. Not only was it a great read (I couldn't put it down) but it was also very informative. I learned more about derivatives in this book than I could have in any classroom or any other book on bonds.

The word BORING is what usually comes to mind when I read textbooks for my classes. They are not something I look forward to because I typically drift off into never-never-land. Usually they're missing some dynamic, and as a result they just don't seem to capture my attention.

However, this textbook sparked a DIFFERENT reaction in me. First off, I found the futures and opinions market interesting and the material in the textbook easy to understand. It was teeming with examples and diagrams that enhanced my grasp on the fundamentals behind the market. Unlike other textbooks, I found that I ENJOYED the reading. In particular, I enjoyed the numerous real-world applications provided in the boxes throughout the chapters.

I believe the greatest asset in this book are these real-world applications like: how price movements in the orange juice markets market could forecast freezing temperatures better than the U.S. National Weather service, to the enormous role hedging plays for the airline industries. By intertwining stimulating examples into the required nitty-gritty, it held my attention. I thought reading this textbook was both educational and FUN. It sparked in me a new-found enthusiasm in futures and opinions.

An outstanding introduction to futures and options markets, clear, concise and bursting with examples and current issues and controversies. Unlike most futures and options textbooks this text focuses on all types of assets - commodity, financial, energy etc. The book's blend between theory and applications and examples is outstanding. The applications, which are an intergral part of each chapter makes this a must for students and established researchers who want to gain a full understanding of the current state of the futures and options industry.

A Garden Carried in the Pocket by Edith Nisberg is a delightful story about Russell and Joy, two teenagers on a quest to understand the volatility of the stock market.

Ms. Nisberg has an incredible ability to navigate the reader through the perplexities of the stock market by presenting its components through the eyes of the inquisitive main character, Russ. Russ and his sister, Joy, decide to use the money that their grandmother gave them in order to buy 100 shares of Latitude and Longitude, a brokerage house that they encounter after pressing a magical elevator button that leads them to the company's location, the North Pole. Their hopes are soon dashed when they discover that shortly after their investment deal is made, their shares originally priced at $1.00 are now worth only 2 cents a share - a significant loss of $108.00.

Russ and Joy's initial despair turns into hope as they master a plan to not only get back the money that their grandmother gave them, but to also benefit other college-bound youngsters. Their plan entails marketing Latitude and Longitude's latest book with one twist - those who find the picture of the four-leaf clover in the back of the book would be entitled to 100 shares of Latitude and Longitude. Moreover, the profits would be earmarked to go into a college scholarship fund. Therefore, Russ and Joy set out on their dream endeavor. Their father, initially dubious about the execution of their plan, finally agrees to contact his good friend, Mr. Flound-Ar, the president of the publishing company of Latitude and Longitude. (Their mother also has an active role since she is on the Board of Latitude and Longitude.) After negotiating the advertisement at school and on the web, the responses for the book begin to pour in. As planned, a young person from every continent wins 100 shares of the company, thus providing a source of money for the college scholarships.

As in the real-life situation, Russ and Joy discover that the profit from their plan is not instantaneous, but slow and gradual. However, they learn the true lesson that "the stock market is not an exact science" (p.58)

This book is a useful and fun guide for readers of all ages who wish to learn about the stock market. Enjoy!

The book has an excellent story and offers important information about Wall Street and the stock market for young people. I highly recommend it. There are additional activities at the back of the book for young people to indulge in.

This book tells you how to get job interviews even when you have been turned down by a personnel department. While being good at what you do is important, in today's job market it is not enough. You have to know how to promote and sell yourself. You can't be hired unless you're interviewed and you won't be interviewed unless you convince the potential employer you're worth meeting, and you can't do that unless you know how to effectively market yourself. And that's what this book shows you in great detail, complete with examples, exercises, tests, and strategies galore. It helped me get my foot in the door.

Do you know how to get job interviews even when you've been turned down by a personnel department? Get the Job You Want shows you how you can market and sell yourself to get the job or promotion you want. You get step-by-step, no-nonsense information, tips, and strategies, based on organizational psychology, marketing communication, and the techniques used by big business to sell their products. You get the invaluable, but little-discussed, principles of gaining access to essential resources upon which your job campaign must be based. Providing examples galore, the book guides you through questions, exercises, and rehearsals of all the techniques you need in order to dramatically increase the likelihood of your job-hunt success and satisfaction.

One of the above "reviews" was accidently listed as a review and has given the book zero stars when in fact it is comments from the author. The book was fantastic.

I am in the process of establishing partnerships with our firm's suppliers and subcontractors so that we may improve the service that we provide to our customers. The first step in the process is to be sure that our suppliers and subcontractors understand the concept of partnering for a win-win agreement. "Getting Partnering Right" is by far the best explanation of what I am trying to accomplish that I have read.After an initial meeting, I ask our potential partner to read the book and to call me when he has read it.Without exception, all have stated that "Now I get it". In a follow-up interview it is very easy to tell if they really do "get it". So far I have purchsed 28 copies for distribution to potential partners and to some our own employees. In addition,some of our partners have purchased more copies for distribution within their own companies. Maybe this one should be rated 6 stars!!

If you are student or professional trying to understand the evolution of global telecom market, here is the crisp guide for you. I recommend it to all curious minds trying to understanding the roots of telecom market growth across the continents.

This book is extremely interesting and provides a solid understanding of market access to the global telecommunications market. It provides a well-rounded analysis perfect for experienced and not so experienced people to understand. I recommend it!