The first in–depth analysis of pairs trading Pairs trading is a market–neutral strategy in its most simple form. The strategy involves being long (or bullish) one asset and short (or bearish) another. If properly performed, the investor will gain if the market rises or falls. Pairs Trading reveals the secrets of this rigorous quantitative analysis program to provide individuals and investment houses with the tools they need to successfully...

 214 p itc 08/01/2013 315 1 Download

On the Value of Scepticism Bertrand Russell I wish to propose a doctrine which may, I fear, appear wildly paradoxical and subversive. The doctrine in question is this: that it is undesirable to believe a proposition when there is no ground whatever for supposing it true. I must, of course, admit that if such an opinion became common it would completely transform our social life and our political system; since both are at present faultless,...

 8 p itc 08/01/2013 328 1 Download

Looks at the present state-of-the-art in global financial risk management, and then at the innovations and solutions that are being developed to solve the problems with current methodologies. The author presents a closely reasoned explanation of why the traditional quantitative methods are no longer adequate and argues the case for the hybrid instrument that will arise from the merging of the capital and insurance markets. New Ways for...

 168 p itc 08/01/2013 303 1 Download

This book describes an innovative investment strategy called “Relative Value Discipline,” which provides a framework for investing in traditional dividend-paying value stocks, as well as undervalued growth stocks. The graphic below illustrates how the stock selection process works step by step to winnow a thousand large cap stocks down to a focused portfolio of twenty to thirty holdings. Investment Universe • Large cap U.S. stocks •...

 242 p itc 08/01/2013 299 1 Download

Market risk management under normal conditions traditionally has focused on the distribution of portfolio value changes resulting from moves in the mid-price. Hence the market risk is really in a "pure" form: risk in an idealized market with no "friction" in obtaining the fair price. However, many markets possess an additional liquidity component that arises from a trader not realizing the mid-price when liquidating her position, but rather...

 18 p itc 08/01/2013 331 1 Download

This book offers an extensive and up-to-date review of market risk measurement, focusing particularly on the estimation of value at risk (VaR) and expected tail loss (ETL). Measuring Market Risk provides coverage of parametric and non-parametric risk estimation, simulation, numerical methods, liquidity risks, risk decomposition and budgeting, backtesting, stress testing, and model risk, as well as appendices on mapping delta-gamma...

 395 p itc 08/01/2013 311 1 Download

Market neutral strategies have gained attention for their potential to deliver positive returns regardless of the direction of underlying markets. As these strategies have built a record of good performance in recent years, their benefits have become apparent. Market Neutral Strategies draws on the wisdom and experience of professional practitioners to describe strategies that are being utilized by some of today's leading institutional...

 303 p itc 08/01/2013 277 1 Download

nvestment Valuation Tools and Techniques for Determining the Value of Any Asset Valuation is at the heart of every investment decision, whether that decision is to buy, sell, or hold. But the pricing of any financial asset has become a more complex task in modern financial markets. Now completely revised and fully updated to reflect changing market conditions, Investment Valuation, Second Edition, provides expert instruction on how to value...

 1372 p itc 08/01/2013 293 1 Download

Risk has two sides: underestimating it harms the investor, while overestimating it prevents the implementation of bold business projects. This book explains, from the point of view of the practitioner, the analysis of investment risk - a proper account of adequate risk management strategies - and offers an objective and readable account of the most common investment risk management procedures. It will not be highly mathematical, although...

 223 p itc 08/01/2013 287 1 Download

Discover the psychological strategies that hedge fund traders use to maximize their success in Hedge Fund Masters. Author Ari Kiev interviewed over 80 hedge fund traders, including some of the most successful hedge fund operators in the world, to illustrate the principles of success. Filled with in-depth insights and practical advice, the book explores the pressures felt by professional hedge fund traders as they manage enormous sums of their...

 292 p itc 08/01/2013 286 1 Download

Incompletion Triggers List Professional Projects started, not completed. Projects that need to be started "Look into" projects. Commltments/promlses to others: boss/partners, colleagues, subordlnates, others In organlzation, other professlonals, customers, other organlzatlons Communlcatlons to make/get:calls, Emalls, volce-malls, faxes, pages, letters, memos

 62 p itc 08/01/2013 89 1 Download

There has been an explosive growth in the number of corporates, investors and financial institutions turning to structured products to achieve cost savings, risk controls and yield enhancements. However, the exact nature, risks and applications of these products and solutions can be complex, and problems arise if the fundamental building blocks and principles are not fully understood. This book explains the most popular products and strategies...

 343 p itc 08/01/2013 282 1 Download