Ronald L. Moy, CFA, is associate professor of finance at Tobin College of Business, St. John's University, Staten Island, New York.
This fascinating look at some of the most famous episodes in the history of world financial markets makes for enjoyable reading, especially for those interested in an overview of the most storied events, which may help investors recognize potential opportunities and future crises.
When a new book on investing like Warren Buffett is published, one has to ask what new insight the author can offer. Surprisingly, Larry E. Swedroe has delivered a unique take on the Buffett investment philosophy.
Executives who are looking for metrics that line managers can use to fuel growth, as well as financial analysts seeking tools to enhance the investment decision-making process, will find this guide to the new EVA ratios an invaluable addition to their evaluation arsenals.
This enjoyable collection of articles about and by Warren Buffett gives readers the opportunity to learn about his business achievements. Even seasoned readers who have tracked Buffett’s career for decades are likely to find enough new material to pique their interest.
A concise introduction to IPOs for the uninitiated, this book is also an excellent resource for finance professors wishing to supplement investment textbooks that touch only briefly on the IPO process, professionals at the outset of their careers who contemplate moving into IPO investing, and owners of new businesses.
Ian McDonald of the University of Melbourne has assembled an enlightening and diverse collection of 24 articles — featuring surveys, theoretical modeling, and empirical testing — that explore psychology and behavioral economics in shedding light on intervention versus free-market solutions following the recent global financial crisis.
The job of management is to maximize corporate value, which leads CEOs to seek ways to boost their companies’ stock prices. Although generating consistent long-term earnings growth for shareholders would seem the obvious path to reaching that goal, every company will experience difficult times. The question is whether shareholders will regard a down quarter or year as simply a short detour on the overall journey or consider short-run earnings misses significant.
The roots of value investing can be traced back to the 1934 publication of Benjamin Graham and David Dodd’s classic, Security Analysis. Graham later disseminated his views to the general public in the highly regarded book The Intelligent Investor. The influence of Graham’s methodology is indisputable. His disciples represent a virtual who’s who of value investors, including Warren Buffett, Bill Ruane, and Walter Schloss. As a measure of his enduring impact on the field, a search of “Benjamin Graham” on Amazon.com yields more than 900 results concerning Graham’s writings and works about his investment philosophy. Given the success of the master and his students, it is no wonder that Graham remains an investor of immense interest to practitioners.
The trading of options is quite mysterious to many investors. Some view the use of options as nothing more than gambling. One may place small bets with the potential for very large gains. Unfortunately, just like bets at a casino, the options trader who bets on a large move in the price of an asset is rarely the winner because most such bets expire worthless. As Kerry W. Given (a.k.a. Dr. Duke), founder of Parkwood Capital, points out in No-Hype Options Trading: Myths, Realities, and Strategies That Really Work, “The casino establishes a game where the casino holds a statistical edge. . . . Your model for trading options should be the casino owner, not the player at the tables.” His goal is to teach investors how to profit from the use of options while intelligently managing the risks involved.
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