{"product_id":"life-in-the-financial-markets-isbn-9781118914878","title":"Life in the Financial Markets","description":"\u003cp\u003e\u003cb\u003eAn accessible and thorough review of the international financial markets\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eLife in the Financial Markets—How They Really Work And Why They Matter To You\u003c\/i\u003e offers the financial services professional, and anyone interested in knowing more about the profession, an entertaining and comprehensive analysis of the financial markets and the financial services industry. Written by Daniel Lacalle—a noted portfolio manager with EcoFin and well-known media personality—the book goes beyond a simple summary and offers solid advice on the future of the global financial markets. This great resource also includes a review of effective strategies and forecasts the trends that represent potential opportunities for investors\u003cb\u003e.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe book reviews the recent history of the financial crisis and includes information on hot topics such as derivatives and high frequency trading. An in-depth section on investment banking is written from the perspective of a successful practitioner and provides clarity on several complex and overly politicized elements of the banking system. The author gives an expert's perspective on the debt markets, monetary policies, and quantitative easing, and helps explain the various issues surrounding sovereign debt, the Euro crisis, and austerity versus growth policies. Comprehensive in scope, this resource also offers an analysis of investment styles, from hedge funds to \"long only\" investments, as well as an in-depth look at corporate communication and its impact on markets and investments.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eOffers an engaging and comprehensive analysis of the financial services industry\u003c\/li\u003e \u003cli\u003eIncludes information on the workings of the global financial system following the economic crisis\u003c\/li\u003e \u003cli\u003eContains a review of complex banking systems\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eAnalyzes the various investment styles and answers the most common questions pertaining to investing\u003c\/p\u003e \u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eAcknowledgements xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I \u003c\/b\u003e\u003cb\u003eThe financial markets: Who they are, what they are, how they work 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 1 “Thinking against the box” 3\u003c\/p\u003e \u003cp\u003eChapter 2 The financial market: Complex and volatile 9\u003c\/p\u003e \u003cp\u003eChapter 3 Welcome to London 25\u003c\/p\u003e \u003cp\u003eChapter 4 The market doesn’t attack, it defends itself 37\u003c\/p\u003e \u003cp\u003eChapter 5 The Lehman crisis and the change in mentality: Habits and customs 43\u003c\/p\u003e \u003cp\u003eChapter 6 Traders, “robots” and speculators 55\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II \u003c\/b\u003e\u003cb\u003eThe debt crisis and the great lie of free money 71\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 7 The debt market 73\u003c\/p\u003e \u003cp\u003eChapter 8 Welcome, investors! 83\u003c\/p\u003e \u003cp\u003eChapter 9 The European and sovereign debt crises 85\u003c\/p\u003e \u003cp\u003eChapter 10 Credit-rating agencies 95\u003c\/p\u003e \u003cp\u003eChapter 11 When the problem only seemed to be Greece 99\u003c\/p\u003e \u003cp\u003eChapter 12 Why was the break-up of the euro feared? 105\u003c\/p\u003e \u003cp\u003eChapter 13 Evil speculators: Someone else is to blame 111\u003c\/p\u003e \u003cp\u003eChapter 14 Snowballing debt 115\u003c\/p\u003e \u003cp\u003eChapter 15 The damned risk premium 119\u003c\/p\u003e \u003cp\u003eChapter 16 Derivatives: Weapons of mass destruction? 125\u003c\/p\u003e \u003cp\u003eChapter 17 The illusion of easy money: The investment banks and the great deception 131\u003c\/p\u003e \u003cp\u003eChapter 18 Stimulus policies and kicking the can down the road 137\u003c\/p\u003e \u003cp\u003eChapter 19 Lies and mistakes of the debt crisis 147\u003c\/p\u003e \u003cp\u003eChapter 20 Economic liberty and austerity 165\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III \u003c\/b\u003e\u003cb\u003eHedge funds and the stock market 173\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 21 Hedge funds: The bad guys of the economic crisis? 175\u003c\/p\u003e \u003cp\u003eChapter 22 Active management 181\u003c\/p\u003e \u003cp\u003eChapter 23 Critics and reality 185\u003c\/p\u003e \u003cp\u003eChapter 24 Strategies 187\u003c\/p\u003e \u003cp\u003eChapter 25 Building portfolios 193\u003c\/p\u003e \u003cp\u003eChapter 26 Closeness makes the heart grow fonder: How to identify investment opportunities 197\u003c\/p\u003e \u003cp\u003eChapter 27 Short positions in a portfolio 203\u003c\/p\u003e \u003cp\u003eChapter 28 Banning short selling and the Tobin tax 207\u003c\/p\u003e \u003cp\u003eChapter 29 Recommendations 211\u003c\/p\u003e \u003cp\u003eChapter 30 The long-term illusion… and the opportunity of value investing 223\u003c\/p\u003e \u003cp\u003eChapter 31 A strange case: Companies with politicians 231\u003c\/p\u003e \u003cp\u003eChapter 32 Communication with the market and attractiveness to investors 239\u003c\/p\u003e \u003cp\u003eChapter 33 Why invest in a hedge fund? 245\u003c\/p\u003e \u003cp\u003eChapter 34 Ten golden rules for investing 249\u003c\/p\u003e \u003cp\u003eChapter 35 “Warning” phrases and comments 253\u003c\/p\u003e \u003cp\u003eChapter 36 Books and films about the market 259\u003c\/p\u003e \u003cp\u003eChapter 37 A day in the life of an investment fund 263\u003c\/p\u003e \u003cp\u003eChapter 38 Farewell  271\u003c\/p\u003e \u003cp\u003eEuro-crisis and “exceptions” 275\u003c\/p\u003e \u003cp\u003eRecommended reading 285\u003c\/p\u003e \u003cp\u003eIndex 287\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eDANIEL LACALLE\u003c\/b\u003e is an economist, fund manager and certified financial analyst overseeing equities, bonds and commodities. He holds a postgraduate degree in IESE and a master's degree in economy investigation. Mr Lacalle was voted Top 3 Generalist and Number 1 Pan-European Buyside Individual in Oil \u0026amp; Gas in Thomson Reuters' Extel Survey in 2011, the leading survey among companies and financial institutions. Author of two best-selling books \u003ci\u003eNosotros los Mercados\u003c\/i\u003e and \u003ci\u003eViaje a la Libertad Económica\u003c\/i\u003e, now in its fifth and third edition respectively, as well as \u003ci\u003eThe Energy World Is Flat\u003c\/i\u003e (Wiley, 2015, with Diego Parrilla).   \u003c\/p\u003e\u003cp\u003eMost of the economic news that reaches market participants is reactive: it only explains what has happened. What's more, this information is belated, filtered, often massaged and sometimes tainted by politics and social relations. In times of crisis \"speculators\" all too often take the blame for economic downturns both in the media and in political discourse.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eLife in the Financial Markets\u003c\/i\u003e offers financial services professionals, as well as anyone interested in the topic, an accessible and provocative guide to the functioning of the financial system. Written by Daniel Lacalle—a senior portfolio manager and contributor to the \u003ci\u003eWall Street Journal\u003c\/i\u003e and CNBC—\u003ci\u003eLife in the Financial Markets\u003c\/i\u003e passionately defends the honesty, seriousness and above all the essential and irreplaceable role that financial operators play in today's economy. Lacalle also includes a diagnosis of the economic crisis, that may be considered by some as controversial, but which offers a hopeful and honest way out of our current problems.\u003c\/p\u003e \u003cp\u003eLacalle explores the recent history of the market and the financial crisis and touches on hot topics such as derivatives, high frequency trading, and investment banking. Viewed from the perspective of a successful practitioner, Lacalle provides clarity on some complex and very politicised elements of the banking system including the debt market, monetary policies, and quantitative easing. In accessible terms, \u003ci\u003eLife in the Financial Markets\u003c\/i\u003e explains the impact of, as well as the different issues surrounding, sovereign debt, the European crisis, and austerity versus growth policies.\u003c\/p\u003e \u003cp\u003eBased on his experience, Daniel Lacalle lambasts some of the myths surrounding the activity of hedge funds and financial operators, offers his take on the causes of the current crisis and includes ways to resolve them. Among other controversial ideas, \u003ci\u003eLife in the Financial Markets\u003c\/i\u003e argues persuasively that traders do not act outside the law; access to the investor's pocket is not anyone's right, not even that of a government; liquidity alone is not enough to tackle the current crisis; consensus assessment poses a danger to the investor; and the currency markets always impose the fundamentals.\u003c\/p\u003e \u003cp\u003eThis important resource provides ideas and recommendations for negotiating the financial sectors and offers suggestions to investors for making their own investment decisions.\u003c\/p\u003e  \u003cp\u003eMost of the economic news that reaches market participants is reactive: it only explains what has happened. What's more, this information is belated, filtered, often massaged and sometimes tainted by politics and social relations. In times of crisis \"speculators\" all too often take the blame for economic downturns both in the media and in political discourse. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eLife in the Financial Markets\u003c\/i\u003e offers financial services professionals, as well as anyone interested in the topic, an accessible and provocative guide to the functioning of the financial system. Written by Daniel Lacalle—a senior portfolio manager and contributor to the \u003ci\u003eWall Street Journal\u003c\/i\u003e and CNBC—\u003ci\u003eLife in the\u003c\/i\u003e \u003ci\u003eFinancial Markets\u003c\/i\u003e passionately defends the honesty, seriousness and above all the essential and irreplaceable role that financial operators play in today's economy. Lacalle also includes a diagnosis of the economic crisis, that may be considered by some as controversial, but which offers a hopeful and honest way out of our current problems. \u003c\/p\u003e\u003cp\u003eLacalle explores the recent history of the market and the financial crisis and touches on hot topics such as derivatives, high frequency trading, and investment banking. Viewed from the perspective of a successful practitioner, Lacalle provides clarity on some complex and very politicised elements of the banking system including the debt market, monetary policies, and quantitative easing. In accessible terms, \u003ci\u003eLife in the Financial Markets\u003c\/i\u003e explains the impact of, as well as the different issues surrounding, sovereign debt, the European crisis, and austerity versus growth policies. \u003c\/p\u003e\u003cp\u003eBased on his experience, Daniel Lacalle lambasts some of the myths surrounding the activity of hedge funds and financial operators, offers his take on the causes of the current crisis and includes ways to resolve them. Among other controversial ideas, \u003ci\u003eLife in the Financial Markets\u003c\/i\u003e argues persuasively that traders do not act outside the law; access to the investor's pocket is not anyone's right, not even that of a government; liquidity alone is not enough to tackle the current crisis; consensus assessment poses a danger to the investor; and the currency markets always impose the fundamentals. \u003c\/p\u003e\u003cp\u003eThis important resource provides ideas and recommendations for negotiating the financial sectors and offers suggestions to investors for making their own investment decisions.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989528133861,"sku":"NP9781118914878","price":53.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118914878.jpg?v=1761784472","url":"https:\/\/k12savings.com\/products\/life-in-the-financial-markets-isbn-9781118914878","provider":"K12savings","version":"1.0","type":"link"}