The Alchemy Of Finance

Author: George Soros
Publisher: John Wiley & Sons
ISBN: 9780471445494
Size: 77.12 MB
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New chapter by Soros on the secrets to his success along with a new Preface and Introduction. New Foreword by renowned economist Paul Volcker "An extraordinary . . . inside look into the decision-making process of the most successful money manager of our time. Fantastic." —The Wall Street Journal George Soros is unquestionably one of the most powerful and profitable investors in the world today. Dubbed by BusinessWeek as "the Man who Moves Markets," Soros made a fortune competing with the British pound and remains active today in the global financial community. Now, in this special edition of the classic investment book, The Alchemy of Finance, Soros presents a theoretical and practical account of current financial trends and a new paradigm by which to understand the financial market today. This edition's expanded and revised Introduction details Soros's innovative investment practices along with his views of the world and world order. He also describes a new paradigm for the "theory of reflexivity" which underlies his unique investment strategies. Filled with expert advice and valuable business lessons, The Alchemy of Finance reveals the timeless principles of an investing legend. This special edition will feature a new chapter by Soros on the secrets of his success and a new Foreword by the Honorable Paul Volcker, former Chairman of the Federal Reserve. George Soros (New York, NY) is President of Soros Fund Management and Chief Investment Advisor to Quantum Fund N.V., a $12 billion international investment fund. Besides his numerous ventures in finance, Soros is also extremely active in the worlds of education, culture, and economic aid and development through his Open Society Fund and the Soros Foundation.

Babylon S Banksters

Author: Joseph P. Farrell
Publisher: Feral House
ISBN: 1932595791
Size: 32.46 MB
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In a fascinating, unique and alternative history, author of The Philosophers' Stone Joseph P. Farrell outlines the consistent pattern and strategy of bankers in ancient and modern times, and their desire to suppress the public development of alternative physics and energy technologies. He unravels how financiers usurped the money creating power of the state to substitute a facsimile of money-as-debt. Here, Farrell peels back the layers of deception to reveal the possible deep physics that the 'banksters' have used in their financial policies.

The Winning Investment Habits Of Warren Buffett George Soros

Author: Mark Tier
Publisher: St. Martin's Griffin
ISBN: 1466852771
Size: 31.39 MB
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Warren Buffett, Carl Icahn, and George Soros all started with nothing---and made billion-dollar fortunes solely by investing. But their investment strategies are so widely divergent, what could they possibly have in common? As Mark Tier demonstrates in this insightful book, the secrets that made Buffet, Icahn, and Soros the world's three richest investors are the same mental habits and strategies they all practice religiously. However, these are mental habits and strategies that fly in the face of Wall Street's conventional mindset. For example: -Buffett, Icahn, and Soros do not diversify. When they buy, they buy as much as they can. -They're not focused on the profits they expect to make. Going in, they're not investing for the money at all. -They don't believe that big profits involve big risks. In fact, they're far more focused on not losing money than making it. -Wall Street research reports? They never read them. They're not interested in what other people think. Indeed, Buffett says he only reads analyst reports when he needs a laugh. In The Winning Investment Habits of Warren Buffett & George Soros you can discover how the mental habits that guided your last investment decision stack up against those of Buffett, Icahn, and Soros. Then learn exactly how you can apply the wealth-building secrets of the world's richest investors to transform your own investment results.

Soros On Soros

Author: George Soros
Publisher: John Wiley & Sons
ISBN: 9780471119777
Size: 41.47 MB
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George Soros Ends the Speculation "The outcome [of this book] is a summing up of my life's work. . . As I finish the book, I feel I have succeeded."-George Soros from the Preface Critical praise for Soros on Soros "If you have ever wanted to sit down for a candid conversation with a phenomenal financial success, George Soros's book provides the opportunity. You will meet a complex man and a first-rate mind."-Henry A. Kissinger "The best expert on Soros is undoubtedly George Soros! After all, who is better equipped to tell us what he really thinks and how he thinks, a matter of some importance given the fact that he has translated a remarkable personal financial success into a truly generous and historically significant effort to promote postcommunist democracy." -Zbigniew Brzezinski "The best X-ray of the mind of the master yet." -Barton M. Biggs "George Soros brings a lot more to the world of finance than the intuition and nerve of a born trader-and in Soros on Soros he's no longer bashful about telling us about it. A philosopher at heart, George attributes his success at investing to a theory of the interaction of reality and human perception. What really drives the man now, with a personal fortune beyond all personal need, is a different kind of strategic investing-investment to build in Eastern Europe the kind of open societies he came to value in his own life." -Paul A. Volcker Financial guru George Soros is one of the most colorful and intriguing figures in the financial world today. Now in Soros on Soros, readers are given their most intimate and revealing look yet into the life and mind of the one BusinessWeek dubbed, "The Man Who Moves Markets." Soros on Soros interweaves financial theory and personal reminiscence, political analysis and moral reflection to offer a compelling portrait of the world (and its markets) according to Soros. In an interview-style narrative with Byron Wien, Managing Director at Morgan Stanley, and with German journalist Krisztina Koenen, Soros vividly describes the genesis of his brilliant financial career and shares his views on investing and global finance, politics and the emerging world order, and the responsibility of power. Speaking with remarkable candor, he traces his progress from Holocaust survivor to philosophy student, unsuccessful tobacco salesman to the world's most powerful and profitable trader and introduces us to the people and events that helped shape his character and his often controversial views. In describing the investment theories and financial strategies that have made him "a superstar among money managers" (The New York Times), Soros tells the fascinating story of the phenomenally successful Soros Fund Management and its $12 billion flagship, Quantum Fund. He also offers fresh insights into some of his most sensational wins and losses, including a firsthand account of the $1 billion he made going up against the British pound and the fortune he lost speculating on the yen. Plus: Soros's take on the devaluation of the peso and currency fluctuations internationally. He tells of the personal and professional crises that more than once threatened to destroy him and of the personal resources he drew upon to turn defeat into resounding victory. And he explains his motivations for establishing the Soros Foundation and the Open Society Institute through which he worked to build open societies in postcommunist countries in Eastern Europe and the former Soviet Union. Finally, turning his attention to international politics, Soros offers keen insights into the current state of affairs in Russia and the former communist bloc countries and analyzes the reasons behind and likely consequences of the West's failure to properly integrate them into the free world. He also explores the crisis of the ERM and analyzes the pros and cons of investing in a number of emerging markets. Find out what makes one of the greatest financial wizards of this or any age tick. Soros on Soros is a must read for anyone interested in world finance and international policy.

The Global Financial Crisis And The Korean Economy

Author: Jang-Sup Shin
Publisher: Routledge
ISBN: 1317950259
Size: 46.42 MB
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The world economy fell into a global financial crisis in 2008/9 and is still jittered by its aftershocks. Like other financial crises happened in the world economy, it came as a surprise. In historical perspective, financial crises should be understood as a natural fact of life in the world economy and a more pertinent question that should be posed would be why people so easily forget and do not learn from the historical experience. This book deals with the question in two ways. First, it investigates the frame of mind that distances people from the reality of life. At the heart of it, it argues that there are wrong perceptions on the working of the world economy, in particular, the international financial market. It summarizes them as ‘the five conventional wisdoms’ in the international financial market and, by critically examining them, it draws on ‘the five financial theorems’, which would provide intellectual pillars for a more realistic understanding of the global financial market. Second, the book examines in detail the case of an emerging market economy that fell into a financial crisis twice in the recent decade. South Korea provides us with an interesting case of emerging market financial crises that came as ‘surprises’: it faced a financial crisis in 1997/98 after it had been acclaimed as one of ‘East Asian miracle economies’ and it was again befallen to a crisis during the global financial crisis in 2008/2009 after it was widely regarded as a country that had recovered from the crisis with one of the most successful implementations of the IMF-sponsored reforms. The book attempts to provide the readers with a realistic understanding of emerging market financial crises by interpreting the recent global financial crisis and the Korean crises with some general concepts manifested in ‘the five financial theorems’. It also tries to draw more general implications for policy management of emerging market economies.

The End Of Alchemy Money Banking And The Future Of The Global Economy

Author: Mervyn King
Publisher: W. W. Norton & Company
ISBN: 0393247031
Size: 11.77 MB
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“Mervyn King may well have written the most important book to come out of the financial crisis. Agree or disagree, King’s visionary ideas deserve the attention of everyone from economics students to heads of state.” —Lawrence H. Summers Something is wrong with our banking system. We all sense that, but Mervyn King knows it firsthand; his ten years at the helm of the Bank of England, including at the height of the financial crisis, revealed profound truths about the mechanisms of our capitalist society. In The End of Alchemy he offers us an essential work about the history and future of money and banking, the keys to modern finance. The Industrial Revolution built the foundation of our modern capitalist age. Yet the flowering of technological innovations during that dynamic period relied on the widespread adoption of two much older ideas: the creation of paper money and the invention of banks that issued credit. We take these systems for granted today, yet at their core both ideas were revolutionary and almost magical. Common paper became as precious as gold, and risky long-term loans were transformed into safe short-term bank deposits. As King argues, this is financial alchemy—the creation of extraordinary financial powers that defy reality and common sense. Faith in these powers has led to huge benefits; the liquidity they create has fueled economic growth for two centuries now. However, they have also produced an unending string of economic disasters, from hyperinflations to banking collapses to the recent global recession and current stagnation. How do we reconcile the potent strengths of these ideas with their inherent weaknesses? King draws on his unique experience to present fresh interpretations of these economic forces and to point the way forward for the global economy. His bold solutions cut through current overstuffed and needlessly complex legislation to provide a clear path to durable prosperity and the end of overreliance on the alchemy of our financial ancestors.

Personal Finance An Encyclopedia Of Modern Money Management

Author: Barbara Friedberg
Publisher: ABC-CLIO
ISBN: 1440830320
Size: 24.79 MB
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This jargon-free resource explains the who, what, why, and where of contemporary personal finance in simple, easy-to-grasp language, covering the key people, events, terms, tools, policies, and products that make up modern money management. • Supplies accessible, comprehensive financial information that explains complex topics in simple language • Shows the relationship between personal finance and everyday life, from renting an apartment to saving for retirement • Answers a wide variety of personal finance questions • Provides a resource suitable for both personal and scholarly use

Expected Returns

Author: Antti Ilmanen
Publisher: John Wiley & Sons
ISBN: 9781119990772
Size: 35.80 MB
Format: PDF, Kindle
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This comprehensive reference delivers a toolkit for harvesting market rewards from a wide range of investments. Written by a world-renowned industry expert, the reference discusses how to forecast returns under different parameters. Expected returns of major asset classes, investment strategies, and the effects of underlying risk factors such as growth, inflation, liquidity, and different risk perspectives, are also explained. Judging expected returns requires balancing historical returns with both theoretical considerations and current market conditions. Expected Returns provides extensive empirical evidence, surveys of risk-based and behavioral theories, and practical insights.

Stalking The Black Swan

Author: Kenneth A. Posner
Publisher: Columbia University Press
ISBN: 9780231521673
Size: 22.34 MB
Format: PDF
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Kenneth A. Posner spent close to two decades as a Wall Street analyst, tracking the so-called "specialty finance" sector, which included controversial companies such as Countrywide, Fannie Mae, Freddie Mac, CIT, and MasterCard many of which were caught in the subprime mortgage and capital markets crisis of 2007. While extreme volatility is nothing new in finance, the recent downturn caught many off guard, indicating that the traditional approach to decision making had let them down. Introducing a new framework for handling and evaluating extreme risk, Posner draws on years of experience to show how decision makers can best cope with the "Black Swans" of our time. Posner's shrewd assessment combines the classic fundamental research approach of Benjamin Graham and David Dodd with more recent developments in cognitive science, computational theory, and quantitative finance. He outlines a probabilistic approach to decision making that involves forecasting across a range of scenarios, and he explains how to balance confidence, react accurately to fast-breaking information, overcome information overload, zero in on the critical issues, penetrate the information asymmetry shielding corporate executives, and integrate the power of human intuition with sophisticated analytics. Emphasizing the computational resources we already have at our disposal our computers and our minds Posner offers a new track to decision making for analysts, investors, traders, corporate executives, risk managers, regulators, policymakers, journalists, and anyone who faces a world of extreme volatility.