Inside markets, innovation, and risk Why do markets keep crashing and why are financial crises greater than ever before? As the risk manager to some of the leading firms on Wall Street–from Morgan Stanley to Salomon and Citigroup–and a member of some of the world’s largest hedge funds, from Moore Capital to Ziff Brothers and FrontPoint Partners, Rick Bookstaber has seen the ghost inside the machine and vividly shows us a world that is even riskier than we think. The very things done to make markets safer, have, in fact, created a world that is far more dangerous. From the 1987 crash to Citigroup closing the Salomon Arb unit, from staggering losses at UBS to the demise of Long-Term Capital Management, Bookstaber gives readers a front row seat to the management decisions made by some of the most powerful financial figures in the world that led to catastrophe, and describes the impact of his own activities on markets and market crashes. Much of the innovation of the last 30 years has wreaked havoc on the markets and cost trillions of dollars. A Demon of Our Own Design tells the story of man’s attempt to manage market risk and what it has wrought. In the process of showing what we have done, Bookstaber shines a light on what the future holds for a world where capital and power have moved from Wall Street institutions to elite and highly leveraged hedge funds.
Praise for Realtor? Magazine's BROKER to BROKER «By providing best practice management tips with thought-provoking ideas, Broker to Broker offers invaluable guidance on virtually every aspect of our dynamic industry. The book's easy-to-read format, with in-depth supporting material available online, is an innovative approach to helping the country's brokers and managers find effective solutions to today's challenges.» –Ron Peltier, President and CEO, HomeServices of America, Inc., Minneapolis, Minnesota «This compilation of the latest Realtor? Magazine articles on real estate brokerage management could be of help to brokers and managers looking for practical ideas to boost their operations. The book quotes extensively from veteran brokers and managers who are trying new ways to build sales and tackle problems. Within the book's range of articles could be helpful ideas for you.» –J. Lennox Scott, Chairman and CEO, John L. Scott Real Estate, Seattle, Washington «The editors did their homework. The pace of change in our business is a constant challenge. Even if you don't want to lead the charge in industry change, brokers would do well to study the innovative concepts (such as the employee-agent model) illustrated here. The section on operations is particularly useful for brokers of a multi-office/multi-region operation.» –Steve Brown, ABR?, CRB, Vice President and General Manager, Crye-Leike, Realtors?, Memphis, Tennessee «The editors of Realtor? Magazine do a fantastic job of keeping Realtors? on top of all real estate concerns. No issue is more timely or essential to building good business than brokerage practices.» –Blanche Evans, Publisher, Agent News, and Editor, Realty Times, Dallas, Texas
Advance praise for Motivating the «What's In It For Me?» Workforce «The information on leading and managing generations found in this book is invaluable to all executives today. The war for talent has become increasingly fierce. Attracting and retaining this talent is critical to a successful global company. This book is a masterful tool for developing the skills required for managing multigenerational teams. It is a must-have for executives at all levels who are responsible for a company's greatest asset: its people.» –Phebe Port, Vice President Global Management Strategies,The Estee Lauder Companies «Motivating the 'What's In It For Me?' Workforce has given our managers good ideas about leading the different generations in our workplace, particularly the New Millennials who we at Enterprise are especially reliant upon to grow our business every single day and, ultimately, become our company's future leaders.» –Marie Artim, Assistant Vice President Recruiting, Enterprise Rent-A-Car «After Marston presented to our management group, approximately 400 individuals, and after we responded to the clamor for his book, it became commonplace to hear people discussing solutions to problems based on generational considerations. There aren't many people discussions that occur today where we don't at least consider differences between Baby Boomers, Millennials, etc. He really changed our way of thinking!» –Anne Donovan, U.S. HR LeaderSystems and Process Assurance, PricewaterhouseCoopers «If you ever had any doubt that generational differences have an impact on go-to-market strategies, Marston's book, Motivating the 'What's In It For Me?' Workforce, provides thought-provoking realities you need to consider. This is a must-read . . . At our Sales Leadership Conference, Marston gave our top sales managers actionable ideas on how to gain better understanding of what drives today's workforce to take direct action and deliver exceptional results.» –Damian A. Thomas, General ManagerCorporate Sales Leader, General Electric Company
A complete guide to day trading stocks, options, or futures, plus companion workbook This valuable guide is a complete day trading course (with a companion workbook) that walks novice traders through all the day trading opportunities. The Day Trader's Course is packed with basic technical skill, proven winning strategies, and essential background. Lewis Borsellino reveals when to buy and when to sell, and shows readers how to identify when «it's over» for a particular stock, option, or future. Drawing from his considerable experience, he identifies the rules that every trader should follow.
"Before reading The Panic of 1907, the year 1907 seemed like a long time ago and a different world. The authors, however, bring this story alive in a fast-moving book, and the reader sees how events of that time are very relevant for today's financial world. In spite of all of our advances, including a stronger monetary system and modern tools for managing risk, Bruner and Carr help us understand that we are not immune to a future crisis." —Dwight B. Crane, Baker Foundation Professor, Harvard Business School «Bruner and Carr provide a thorough, masterly, and highly readable account of the 1907 crisis and its management by the great private banker J. P. Morgan. Congress heeded the lessons of 1907, launching the Federal Reserve System in 1913 to prevent banking panics and foster financial stability. We still have financial problems. But because of 1907 and Morgan, a century later we have a respected central bank as well as greater confidence in our money and our banks than our great-grandparents had in theirs.» —Richard Sylla, Henry Kaufman Professor of the History of Financial Institutions and Markets, and Professor of Economics, Stern School of Business, New York University «A fascinating portrayal of the events and personalities of the crisis and panic of 1907. Lessons learned and parallels to the present have great relevance. Crises and panics are as much a part of our future as our past.» —John Strangfeld, Vice Chairman, Prudential Financial «Who would have thought that a hundred years after the Panic of 1907 so much remained to be written about it? Bruner and Carr break significant new ground because they are willing to do the heavy lifting of combing through massive archival material to identify and weave together important facts. Their book will be of interest not only to banking theorists and financial historians, but also to business school and economics students, for its rare ability to teach so clearly why and how a panic unfolds.» —Charles Calomiris, Henry Kaufman Professor of Financial Institutions, Columbia University, Graduate School of Business
The revised edition of this highly acclaimed work presents crucial lessons from Japan's recession that could aid the US and other economies as they struggle to recover from the current financial crisis. This book is about Japan's 15-year long recession and how it affected current theoretical thinking about its causes and cures. It has a detailed explanation on what happened to Japan, but the discoveries made are so far-reaching that a large portion of economics literature will have to be modified to accommodate another half to the macroeconomic spectrum of possibilities that conventional theorists have overlooked. The author developed the idea of yin and yang business cycles where the conventional world of profit maximization is the yang and the world of balance sheet recession, where companies are minimizing debt, is the yin. Once so divided, many varied theories developed in macro economics since the 1930s can be nicely categorized into a single comprehensive theory- The Holy Grail of Macro Economics
Take a proven approach to short-term trading. Winning the Day Trading Game offers an insider's view of the trading life and provides proven strategies for profitable trading. Professional trader Tom Busby explains how the strategies that made him so much money early on in his career ultimately failed during the 1987 stock market crash and then reveals how he reinvented himself as a high-percentage day trader. He interweaves personal experiences with technical explanations to outline the cornerstones of his technique. In highlighting his own trading experiences, Busby clearly explains how to beat the market by balancing the impulses of greed and fear, managing risk at all times; and taking responsibility for your trading. Thomas L. Busby (Mobile, AL) has been a professional trader and broker for 25 years, working with Merrill Lynch and Smith Barney. He founded the Day Trading Institute in 1996 and it has grown into one of the most successful trading schools in the world.
A step-by-step visual guide to off-loom bead weaving This photo-intensive guide is a comprehensive resource for creating off-loom beadwork, from simple stitches that any beginner can do to more advanced techniques that you can work up to as you build your skills. Every page includes detailed color photos and diagrams that make it easy to follow along. You'll learn how to weave the peyote, ladder, brick, square, right angle weave, and herringbone stitches, as well as make beaded netting and create beaded clasps and other decorative details. Plus, you'll get patterns to make modern, stylish pieces, from necklaces, bracelets, and earrings to napkin rings.
You, too, can understand geometry – just ask Dr. Math! Are things starting to get tougher in geometry class? Don't panic. Dr. Math–the popular online math resource–is here to help you figure out even the trickiest of your geometry problems. Students just like you have been turning to Dr. Math for years asking questions about math problems, and the math doctors at The Math Forum have helped them find the answers with lots of clear explanations and helpful hints. Now, with Dr. Math Presents More Geometry, you'll learn just what it takes to succeed in this subject. You'll find the answers to dozens of real questions from students in a typical geometry class. You'll also find plenty of hints and shortcuts for using coordinate geometry, finding angle relationships, and working with circles. Pretty soon, everything from the Pythagorean theorem to logic and proofs will make more sense. Plus, you'll get plenty of tips for working with all kinds of real-life problems. You won't find a better explanation of high school geometry anywhere!
Smart Questions offers an entirely new framework for creating solutions. Drawn from the authors' many years of research and field experience, the Smart Questions Approach reveals how the leading creators of solutions in almost every profession and walk of life—including business, government, education, and even in families—think and approach their assignments. The author’s holistic thinking approach shows how to use three “foundation” questions—focusing on uniqueness, purposeful information, and systems—which must be explored for every problem. These three questions, an essential starting point for exploring problems, in turn lead to other key questions that will ultimately create effective solutions.