Additional Praise for So You Want to Start a Hedge Fund
|
|
- Hugh Mitchell
- 5 years ago
- Views:
Transcription
1
2
3 Additional Praise for So You Want to Start a Hedge Fund There are virtually no books on the topic of how to pick individual hedge fund managers, so this is a must read for any asset allocator, whether a professional or a high net worth investor. In fact, all aspiring or current managers would also benefit from reading this book. Ted shares his wisdom from two decades of investing in hedge funds of all types and sizes, with particular insight into investing in early stage managers. Jonathan A.G. Auerbach, Hound Partners There is no one better-equipped than Ted Seides to author a book on starting a hedge fund. From his early training at the Yale Investment Office to his instrumental role at Protégé Partners backing some of the best and brightest investment managers, Ted has forgotten more than most of us will ever know about the challenges of launching a fund. His refreshingly honest insights will resonate with readers of all backgrounds. David Z. Solomon, Managing Director, Goldman Sachs Investment Partners
4 Ted Seides extensive experience in identifying and supporting emerging hedge fund teams provides him with a unique insight into the hedge fund industry and valuable lessons for investors in the asset class. His book provides an interesting view into the challenges and opportunities for astute investors. Paula Volent, Senior Vice President for Investments, Bowdoin College
5 so you want to Start a Hedge Fund
6
7 so you want to Start a Hedge Fund Lessons for Managers and Allocators Ted Seides
8 Cover image: Grunge background toto8888/istockphoto Cover design: Wiley Copyright 2016 by Ted Seides. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) , fax (978) , or on the Web at Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) , fax (201) , or online at Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages. For general information on our other products and services or for technical support, please contact our Customer Care Department within the United States at (800) , outside the United States at (317) or fax (317) Wiley publishes in a variety of print and electronic formats and by print-on-demand. Some material included with standard print versions of this book may not be included in e-books or in print-on-demand. If this book refers to media such as a CD or DVD that is not included in the version you purchased, you may download this material at booksupport.wiley.com. For more information about Wiley products, visit Library of Congress Cataloging-in-Publication Data: ISBN (Hardcover) ISBN (epdf) ISBN (epub) Printed in the United States of America
9 For Eric, Ryan, and Skylar (in alphabetical order), My three most treasured start-ups.
10
11 Contents Foreword Acknowledgments Introduction xi xv xix 1 The Lessons 1 Lessons for Managers 2 Lessons for Allocators 4 2 So You Want to Start a Hedge Fund? 7 3 Attracting Capital 11 Signals of Success 12 A Classic Chicken-and-Egg Problem 30 Investment Funds are Sold, Not Bought (Just Don t Tell the Buyers) 43 Leveraging the Buzz 49 vii
12 Contents Riding the Wave 55 Building a Great Business 60 4 Team 65 Your Single Best Investment 66 The Best a Man Can Get 73 The Two-Headed Portfolio Manager Monster 76 Where Do Nice Guys Finish? 83 Turnover: Don t Knock It Till You Try It 86 Pacing Growth 91 5 Investment Strategy 97 Finding True North 97 Best Foot Forward, With Both Feet 100 The Tug of War between Flexibility and Style Drift 106 Stick to Your Knitting 117 Building Blocks of Process Investment Performance 129 A Slave to Monthly Numbers 130 Sustaining Performance 134 Reaching for Return 138 The Role of Luck 144 The Best Month in a Manager s Career 150 viii
13 Contents 7 So You Want to Invest in a Start-Up Hedge Fund? 153 Influencing Outcomes 154 Terms 158 Preparing for Bumps in the Road 164 Heed the Stop Sign 167 Crossing the Velvet Rope 173 Making Decisions Parting Thoughts 183 Author s Disclaimer 189 About the Author 193 Notes 197 Index 205 ix
14
15 Foreword When I followed one of my mentors, Barton Biggs, in setting up my own investment firm a few years back I felt uniquely prepared to embark on that effort. After all, I had spent nearly a decade at one of the best run hedge funds in the business, a number of years at Morgan Stanley, one of the most important brokers servicing the industry, several years as a securities analyst covering the investment management industry and ten years teaching Ben Graham s Securities Analysis Class at Columbia Business School. Just through osmosis I got to know a number of folks who have built wildly successful investment operations. I even sat (and still sit) on the board of Rich Pzena s eponymous investment firm. What the heck else was there for me to possibly consider? Hang out my shingle, raise a few shekels and get on with it. xi
Additional Praise for So You Want to Start a Hedge Fund
Additional Praise for So You Want to Start a Hedge Fund There are virtually no books on the topic of how to pick individual hedge fund managers, so this is a must read for any asset allocator, whether
More informationSimple Profits from Swing Trading, Revised and Updated
Simple Profits from Swing Trading, Revised and Updated Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia,
More informationThe Fundamentals of Hedge Fund Management
The Fundamentals of Hedge Fund Management Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia and Asia,
More informationPart I: Identifying and Understanding the Trend
CONTENTS Cover Half Title Series Page Title Page Copyright Page Dedication Foreword Introduction Part I: Identifying and Understanding the Trend Chapter 1: Identifying the Major Trend Market Influencers
More informationRisk Management and Financial Institutions
Risk Management and Financial Institutions Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia and Asia,
More informationHedge Fund. Course STUART A. MCCRARY. John Wiley & Sons, Inc.
Hedge Fund Course STUART A. MCCRARY John Wiley & Sons, Inc. Hedge Fund Course Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North
More informationDAY TRADING AND SWING TRADING THE CURRENCY MARKET
DAY TRADING AND SWING TRADING THE CURRENCY MARKET The Wiley Trading series features books by traders who have survived the market s ever changing temperament and have prospered some by reinventing systems,
More informationHIGH- FREQUENCY TRADING
A Practical Guide to Algorithmic Strategies and Trading Systems HIGH- FREQUENCY TRADING Irene Aldridge High-Frequency Trading A Practical Guide to Algorithmic Strategies and Trading Systems IRENE ALDRIDGE
More informationQUANTITATIVE INVESTMENT ANALYSIS WORKBOOK
QUANTITATIVE INVESTMENT ANALYSIS WORKBOOK Second Edition Richard A. DeFusco, CFA Dennis W. McLeavey, CFA Jerald E. Pinto, CFA David E. Runkle, CFA John Wiley & Sons, Inc. QUANTITATIVE INVESTMENT ANALYSIS
More informationAdvanced and Basic Strategies on Stocks, ETFs, Indexes, and Stock Index Futures
$95.00 USA / $105.00 CAN ( c o n t i n u e d f r o m f r o n t f l a p ) Three Appendices illustrate many of the strategies covered throughout this book and present them according to whether the strategies
More informationADDITIONAL PRAISE FOR MIDDLE MARKET M&A
ADDITIONAL PRAISE FOR MIDDLE MARKET M&A At last we have a comprehensive body of knowledge for the M&A middle market. This anthology of contemporary thinking is very timely considering how global this market
More informationBusiness Ratios and Formulas
Business Ratios and Formulas A COMPREHENSIVE GUIDE SECOND EDITION Steven M. Bragg John Wiley & Sons, Inc. Business Ratios and Formulas SECOND EDITION Business Ratios and Formulas A COMPREHENSIVE GUIDE
More informationAn in-depth look at the global Materials sector investment universe, including gold and other metals, chemicals, paper, cement, and more
on MATERIALS An in-depth look at the global Materials sector investment universe, including gold and other metals, chemicals, paper, cement, and more Tips and tools for security analysis and portfolio
More informationFIXED INCOME ANALYSIS WORKBOOK
FIXED INCOME ANALYSIS WORKBOOK CFA Institute is the premier association for investment professionals around the world, with over 124,000 members in 145 countries. Since 1963 the organization has developed
More informationSUPER SECTORS JOHN NYARADI HOW TO OUTSMART SECTOR ROTATION THE MARKET USING. AND ETFs
Included among the Year s Top Investment Books in the 2011 Stock Trader s Almanac, Super Sectors identifies five super sectors that will likely advance far faster and higher than the general indexes due
More informationDANIEL W. HALPIN, PURDUE UNIVERSITY BOLIVAR A. SENIOR, COLORADO STATE UNIVERSITY JOHN WILEY & SONS, INC.
FINANCIAL MANAGEMENT AND ACCOUNTING FUNDAMENTALS FOR CONSTRUCTION DANIEL W. HALPIN, PURDUE UNIVERSITY BOLIVAR A. SENIOR, COLORADO STATE UNIVERSITY JOHN WILEY & SONS, INC. This book is printed on acid-free
More informationUnderstanding the Mathematics of Personal Finance An Introduction to Financial Literacy Lawrence N. Dworsky A John Wiley & Sons, Inc., Publication Understanding the Mathematics of Personal Finance Understanding
More informationBudgeting Basics and Beyond
Budgeting Basics and Beyond Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Asia, and Australia, Wiley is globally
More informationMeasuring and Managing the Value of Companies UNIVERSITY EDITION. M c K I N S E Y & C O M P A N Y CORPORATE VALUATION
THE #1 BESTSELLING GUIDE TO CORPORATE VALUATION VALUATION UNIVERSITY EDITION Measuring and Managing the Value of Companies Updated and Revised with New Insights into Business Strategy and Investor Behavior
More informationTHE NEW WEALTH MANAGEMENT
THE NEW WEALTH MANAGEMENT CFA Institute is the premier association for investment professionals around the world, with over 101,000 members in 134 countries. Since 1963 the organization has developed and
More informationTREASURY MANAGEMENT The Practitioner s Guide. Steven M. Bragg. John Wiley & Sons, Inc.
TREASURY MANAGEMENT The Practitioner s Guide Steven M. Bragg John Wiley & Sons, Inc. Copyright 2010 by John Wiley & Sons, Inc. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
More informationTREASURY MANAGEMENT. The Practitioner's Guide STEVEN M. BRAGG
TREASURY MANAGEMENT The Practitioner's Guide STEVEN M. BRAGG TREASURY MANAGEMENT The Practitioner s Guide Steven M. Bragg John Wiley & Sons, Inc. Copyright 2010 by John Wiley & Sons, Inc. All rights reserved.
More informationAccounts Receivable Management Best Practices
Accounts Receivable Management Best Practices John G. Salek John Wiley & Sons, Inc. Accounts Receivable Management Best Practices Accounts Receivable Management Best Practices John G. Salek John Wiley
More informationThe Budget-Building Book for Nonprofits
The Budget-Building Book for Nonprofits A Step-by-Step Guide for Managers and Boards Second Edition Murray Dropkin Jim Halpin Bill La Touche Praise for The Budget-Building Book for Nonprofits First Edition
More informationBanker s Guide to New Small Business Finance
Banker s Guide to New Small Business Finance The Wiley Finance series contains books written specifically for finance and investment professionals as well as sophisticated individual investors and their
More informationThe Art of Trend Trading
The Art of Trend Trading The Art of Trend Trading ANIMAL SPIRITS AND YOUR PATH TO PROFITS Michael Parness Copyright 2016 by Michael Parness. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken,
More informationQuantitative. Workbook
Quantitative Investment Analysis Workbook Third Edition Richard A. DeFusco, CFA Dennis W. McLeavey, CFA Jerald E. Pinto, CFA David E. Runkle, CFA Cover image: r.nagy/shutterstock Cover design: Loretta
More informationTRADING OPTION GREEKS
TRADING OPTION GREEKS Since 1996, Bloomberg Press has published books for financial professionals on investing, economics, and policy affecting investors. Titles are written by leading practitioners and
More informationThe Handbook of Variable Income Annuities
The Handbook of Variable Income Annuities JEFFREY K. DELLINGER John Wiley & Sons, Inc. The Handbook of Variable Income Annuities Founded in 1807, John Wiley & Sons is the oldest independent publishing
More informationThe Option Trader Handbook
The Option Trader Handbook Strategies and Trade Adjustments GEORGE M. JABBOUR, PhD PHILIP H. BUDWICK, MsF John Wiley & Sons, Inc. The Option Trader Handbook Founded in 1807, John Wiley & Sons is the oldest
More informationThe Commitments of Traders Bible
The Commitments of Traders Bible How to Profit from Insider Market Intelligence STEPHEN BRIESE John Wiley & Sons, Inc. The Commitments of Traders Bible Founded in 1807, John Wiley & Sons is the oldest
More informationWiley CPAexcel EXAM REVIEW FOCUS NOTES
2016 Wiley CPAexcel EXAM REVIEW FOCUS NOTES 2016 Wiley CPAexcel EXAM REVIEW FOCUS NOTES FINANCIAL ACCOUNTING AND REPORTING Cover Design: Wiley Cover image: turtleteeth/istockphoto Copyright 2016 by John
More informationStrategic Corporate tax planning JOHN E. KARAYAN CHARLES W. SWENSON JOSEPH W. NEFF John Wiley & Sons, Inc.
Strategic Corporate tax planning JOHN E. KARAYAN CHARLES W. SWENSON JOSEPH W. NEFF John Wiley & Sons, Inc. Strategic Corporate tax planning Strategic Corporate tax planning JOHN E. KARAYAN CHARLES W.
More informationForensic Accounting and Fraud Investigation for Non-Experts
Forensic Accounting and Fraud Investigation for Non-Experts SECOND EDITION Howard Silverstone Michael Sheetz WILEY John Wiley & Sons, Inc. Forensic Accounting and Fraud Investigation for Non-Experts SECOND
More informationFinancial derivatives Third Edition ROBERT W. KOLB JAMES A. OVERDAHL John Wiley & Sons, Inc.
Financial derivatives Third Edition ROBERT W. KOLB JAMES A. OVERDAHL John Wiley & Sons, Inc. Financial derivatives John Wiley & Sons Founded in 1807, John Wiley & Sons is the oldest independent publishing
More informationInsights and Techniques for Successful Hedging
Convertible Arbitrage Insights and Techniques for Successful Hedging NICK P. CALAMOS John Wiley & Sons, Inc. Convertible Arbitrage Convertible Arbitrage Insights and Techniques for Successful Hedging
More informationQuantitative Risk Management
Quantitative Risk Management Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia, and Asia, Wiley is globally
More informationStrategic Corporate Finance
Strategic Corporate Finance Applications in Valuation and Capital Structure JUSTIN PETTIT John Wiley & Sons, Inc. Additional Praise for Strategic Corporate Finance Strategic Corporate Finance provides
More informationCURRENCY GETTING STARTED IN TRADING INCLUDES COMPANION WEB SITE WINNING IN TODAY S FOREX MARKET MICHAEL DUANE ARCHER
GETTING STARTED IN CURRENCY TRADING INCLUDES COMPANION WEB SITE WINNING IN TODAY S FOREX MARKET T H I R D E D I T I O N MICHAEL DUANE ARCHER Getting Started in CURRENCY TRADING T H I R D E D I T I O N
More informationHOW TO READ A FINANCIAL REPORT
HOW TO READ A FINANCIAL REPORT HOW TO READ A WRINGING VITAL SIGNS OUT OF Eighth Edition FINANCIAL REPORT THE NUMBERS JOHN A. TRACY AND TAGE C. TRACY Cover Design: Wiley Cover Illustration: Wiley Copyright
More informationANTHONY MANGANIELLO FOUNDER AND CREATOR, DEBTFREE.COM THE WINNING STRATEGIES TO CREATING GREAT CREDIT AND RETIRING RICH
ANTHONY MANGANIELLO FOUNDER AND CREATOR, DEBTFREE.COM THE WINNING STRATEGIES TO CREATING GREAT CREDIT AND RETIRING RICH Additional Praise for The Debt-FREE Millionaire Anthony Manganiello tells it like
More informationAdvanced Equity Derivatives
Advanced Equity Derivatives Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia and Asia, Wiley is globally
More informationInvestment Philosophies
Investment Philosophies Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia, and Asia, Wiley is globally
More informationThe Mechanics of Securitization
The Mechanics of Securitization Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia, and Asia, Wiley is
More informationMUTUAL FUNDS. Portfolio Structures, Analysis, Management, and Stewardship. John A. Haslem, Ph.D. The Robert W. Kolb Series in Finance
MUTUAL FUNDS The Robert W. Kolb Series in Finance provides a comprehensive view of the field of finance in all of its variety and complexity. The series is projected to include approximately 65 volumes
More informationWiley Trading ENH A NCED INDEXING STR ATEGIES. Ut ilizing Fu ture s and O p tions to Ac hieve Higher Pe r formanc e. Tristan Yates
Wiley Trading ENH A NCED INDEXING STR ATEGIES Ut ilizing Fu ture s and O p tions to Ac hieve Higher Pe r formanc e Tristan Yates Enhanced Indexing Strategies Founded in 1807, John Wiley & Sons is the
More informationMargin Trading from A to Z
Margin Trading from A to Z A Complete Guide to Borrowing, Investing, and Regulation MICHAEL T. CURLEY John Wiley & Sons, Inc. Margin Trading from A to Z Founded in 1807, John Wiley & Sons is the oldest
More informationCONFESSIONS of a SUBPRIME LENDER
CONFESSIONS of a SUBPRIME LENDER An Insider s Tale of Greed, Fraud, and Ignorance Conveys the authority of someone who was in the trenches where this dirty work was going on. NEWSWEEK RICHARD BITNER CONFESSIONS
More informationMARVIN RAUSAND. Risk Assessment. Theory, Methods, and Applications STATISTICS I:-\ PRACTICE
MARVIN RAUSAND Risk Assessment Theory, Methods, and Applications STATISTICS I:-\ PRACTICE RISK ASSESSMENT STATISTICS IN PRACTICE Advisory Editor Wolfgang Jank University of Maryland, USA Founding Editor
More informationFRM EXAM REVIEW COVERS ALL TOPICS PART II FORMULA SHEETS
2016 FRM EXAM REVIEW COVERS ALL TOPICS IN PART II FRM PART II FORMULA SHEETS Cover image: Loewy Design Cover design: Loewy Design Copyright 2016 by John Wiley & Sons, Inc. All rights reserved. Published
More informationS e a S o n a l S e c t o r t r a d e S
Seasonal Sector Trades The Seasonal Sector Trades series features quarterly reports that use extensive research and analysis to identify the best-performing seasonal trades of all the major financial and
More informationBehavioral Finance and Wealth Management
Behavioral Finance and Wealth Management How to Build Optimal Portfolios That Account for Investor Biases MICHAEL M. POMPIAN John Wiley & Sons, Inc. Behavioral Finance and Wealth Management Founded in
More informationPrinciples of Private Firm Valuation
Principles of Private Firm Valuation STANLEY J. FELDMAN John Wiley & Sons, Inc. Principles of Private Firm Valuation Founded in 1807, John Wiley & Sons is the oldest independent publishing company in
More informationM &A. Valuation for. Valuation. Standards. Building Value in Private Companies SECOND EDITION. Valuation for M & A. Valuation for M & A.
(continued from front flap) to prepare for the sale and acquisition of your firm, spelling out how to identify, quantify, and qualify the synergies that increase its value to strategic buyers. Valuation
More informationA Marketplace Book THE OPTION TRADER S GUIDE TO PROBABILITY, VOLATILITY, AND TIMING Jay Kaeppel John Wiley & Sons, Inc. THE OPTION TRADER S GUIDE TO PROBABILITY, VOLATILITY, AND TIMING Founded in 1807,
More informationOrdinary People, Extraordinary Profits
Ordinary People, Extraordinary Profits How to Make a Living as an Independent Stock, Options, and Futures Trader DAVID S. NASSAR John Wiley & Sons, Inc. Additional Praise for Ordinary People, Extraordinary
More informationWILEY SERIES 66 EXAM REVIEW 2013
WILEY SERIES 66 EXAM REVIEW 2013 WILEY FINRA SERIES This series includes the following titles: Wiley Series 4 Exam Review 2013 + Test Bank: The Registered Options Principal Qualification Examination Wiley
More informationESSENTIALS. of Credit, Collections, and Accounts Receivable. Mary S. Schaeffer
ESSENTIALS of Credit, Collections, and Accounts Receivable Mary S. Schaeffer ESSENTIALS of Credit, Collections, and Accounts Receivable Essentials Series The Essentials Series was created for busy business
More informationTHE STRATEGIC DRUCKER. Growth Strategies and Marketing Insights from The Works of Peter Drucker
THE STRATEGIC DRUCKER Growth Strategies and Marketing Insights from The Works of Peter Drucker THE STRATEGIC DRUCKER Growth Strategies and Marketing Insights from The Works of Peter Drucker Robert W.
More informationRobust Equity Portfolio Management + Website
Robust Equity Portfolio Management + Website The Frank J. Fabozzi Series Fixed Income Securities, Second Edition by Frank J. Fabozzi Focus on Value: A Corporate and Investor Guide to Wealth Creation by
More informationInvestment Project Design
Investment Project Design Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia and Asia, Wiley is globally
More informationTHE LITTLE BOOK OF VALUATION ffirs.indd i ffirs.indd i 3/10/11 6:54:35 PM 3/10/11 6:54:35 PM
THE LITTLE BOOK OF VALUATION Little Book Big Profits Series In the Little Book Big Profi ts series, the brightest icons in the fi nancial world write on topics that range from tried-and-true investment
More informationFinancial Forecasting, Analysis, and Modelling
Financial Forecasting, Analysis, and Modelling Financial Forecasting, Analysis, and Modelling A Framework for Long-Term Forecasting MICHAEL SAMONAS This edition first published 2015 2015 Michael Samonas
More informationDYNAMIC TRADING INDICATORS
A Marketplace Book DYNAMIC TRADING INDICATORS Winning with Value Charts and Price Action Profile MARK W. HELWEG DAVID C. STENDAHL JOHN WILEY & SONS, INC. DYNAMIC TRADING INDICATORS Founded in 1807, John
More informationHow might Warren Buffett Invest in Real Estate?
How might Warren Buffett Invest in Real Estate? How might Warren Buffett Invest in Real Estate? An Introductory Guide to Warren Buffett s Teachings for the Real Estate Investor HOWARD YEN 1 How might Warren
More informationInterpretation and Application of. IFRS Standards
Interpretation and 2017 Application of IFRS Standards BECOME A SUBSCRIBER! Did you purchase this product from a bookstore? If you did, it s important for you to become a subscriber. John Wiley & Sons,
More informationCORPORATE FINANCE ffirs 13 January 2012; 9:6:55
CORPORATE FINANCE CFA Institute is the premier association for investment professionals around the world, with over 101,000 members in 134 countries. Since 1963 the organization has developed and administered
More informationALEXANDER M. INEICHEN
Absolute returns The Risk and Opportunities of Hedge Fund Investing ALEXANDER M. INEICHEN John Wiley & Sons, Inc. Absolute returns Founded in 1807, John Wiley & Sons is the oldest independent publishing
More informationLIVE LONG &PROSPER! Invest in Your Happiness, Health, and Wealth for Retirement and Beyond STEVE VERNON. John Wiley & Sons, Inc.
LIVE LONG &PROSPER! Invest in Your Happiness, Health, and Wealth for Retirement and Beyond STEVE VERNON John Wiley & Sons, Inc. LIVE LONG &PROSPER! LIVE LONG &PROSPER! Invest in Your Happiness, Health,
More informationTHE COMING BOND MARKET COLLAPSE
THE COMING BOND MARKET COLLAPSE THE COMING BOND MARKET COLLAPSE How to Survive the Demise of the U.S. Debt Market MICHAEL G. PENTO Cover Design: John Wiley & Sons, Inc. Cover Image: Mike Kemp/Jupiter
More informationA Foreign Exchange Primer
A Foreign Exchange Primer For other titles in the Wiley Trading series please see www.wiley.com/finance A FOREIGN EXCHANGE PRIMER Second Edition Shani Shamah A John Wiley and Sons, Ltd., Publication Copyright
More informationTHE. quarters theory ILIAN YOTOV THE REVOLUTIONARY NEW FOREIGN CURRENCIES TRADING METHOD. FX Strategist and Host, All Things Forex Daily Broadcast
THE quarters theory THE REVOLUTIONARY NEW FOREIGN CURRENCIES TRADING METHOD ILIAN YOTOV FX Strategist and Host, All Things Forex Daily Broadcast The Quarters Theory Founded in 1807, John Wiley & Sons
More informationCo p y r i g h t e d Ma t e r i a l
i JWBK850-fm JWBK850-Hilpisch October 13, 2016 14:56 Printer Name: Trim: 244mm 170mm Listed Volatility and Variance Derivatives ii JWBK850-fm JWBK850-Hilpisch October 13, 2016 14:56 Printer Name: Trim:
More informationBeat the Odds in Forex Trading
Beat the Odds in Forex Trading Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia, and Asia, Wiley is
More informationThe Basics of Finance
The Basics of Finance The Frank J. Fabozzi Series Fixed Income Securities, Second Edition by Frank J. Fabozzi Focus on Value: A Corporate and Investor Guide to Wealth Creation by James L. Grant and James
More informationFundamentals of Actuarial Mathematics
Fundamentals of Actuarial Mathematics Third Edition S. David Promislow Fundamentals of Actuarial Mathematics Fundamentals of Actuarial Mathematics Third Edition S. David Promislow York University, Toronto,
More informationFinancial Management and Analysis. Workbook PAMELA P. PETERSON FRANK J. FABOZZI WENDY D. HABEGGER. Step-by-Step Exercises and Tests to Help You Master
Financial Management and Analysis Workbook Step-by-Step Exercises and Tests to Help You Master Financial Management and Analysis PAMELA P. PETERSON FRANK J. FABOZZI WENDY D. HABEGGER John Wiley & Sons,
More informationCAPITAL STRUCTURE AND CORPORATE FINANCING DECISIONS
CAPITAL STRUCTURE AND CORPORATE FINANCING DECISIONS The Robert W. Kolb Series in Finance provides a comprehensive view of the field of finance in all of its variety and complexity. The series is projected
More informationGovernmental Accounting Standards Board of the Financial Accounting Foundation
IMPLEMENTATION GUIDE Guide to Implementation of GASB Statement 10 on Accounting and Financial Reporting for Risk Financing and Related Insurance Issues Questions and Answers Governmental Accounting Standards
More informationHandbook of Budgeting
Handbook of Budgeting Sixth Edition WILLIAM R. LALLI Editor John Wiley & Sons, Inc. Copyright 2012 by John Wiley & Sons, Inc. All rights reserved. The fifth edition of this book, titled Handbook of Budgeting,
More informationTHE BUSINESS BLOCKCHAIN
THE BUSINESS BLOCKCHAIN THE BUSINESS BLOCKCHAIN Promise, Practice, and Application of the Next Internet Technology WILLIAM MOUGAYAR FOREWORD BY VITALIK BUTERIN Cover and book design: the frontispiece
More informationWILEY SERIES 66 EXAM REVIEW 2016
WILEY SERIES 66 EXAM REVIEW 2016 WILEY FINRA SERIES This series includes the following titles: Wiley Series 3 Exam Review 2016 + Test Bank: National Commodities Futures Examination Wiley Series 4 Exam
More informationTakaful Investment Portfolios
Takaful Investment Portfolios Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia and Asia, Wiley is globally
More informationTHE GLOBAL REPO MARKETS: Instruments & Applications
THE GLOBAL REPO MARKETS: Instruments & Applications THE GLOBAL REPO MARKETS: Instruments & Applications Moorad Choudhry John Wiley & Sons (Asia) Pte Ltd Copyright 2004 Moorad Choudhry Published in 2004
More informationESSENTIALS of Corporate Performance Measurement
ESSENTIALS of Corporate Performance Measurement George T. Friedlob Lydia L. F. Schleifer Franklin J. Plewa Jr. John Wiley & Sons, Inc. ESSENTIALS of Corporate Performance Measurement Essentials Series
More informationFounded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe,
Leveraged Buyouts Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia, and Asia, Wiley is globally committed
More informationQUANTITATIVE INVESTMENT ANALYSIS WORKBOOK
QUANTITATIVE INVESTMENT ANALYSIS WORKBOOK Second Edition Richard A. DeFusco, CFA Dennis W. McLeavey, CFA Jerald E. Pinto, CFA David E. Runkle, CFA John Wiley & Sons, Inc. QUANTITATIVE INVESTMENT ANALYSIS
More informationreturns while maintaining a low level of risk.
C O N T I N U E D F ROM F RO N T F L A P $27.95 USA / $33.95 CAN After this informative introduction: Part II details the different investment vehicles separately managed accounts (SMAs), exchange traded
More informationCredit Derivatives: Instruments, Applications, and Pricing MARK J.P. ANSON FRANK J. FABOZZI MOORAD CHOUDHRY REN-RAW CHEN John Wiley & Sons, Inc.
Credit Derivatives: Instruments, Applications, and Pricing MARK J.P. ANSON FRANK J. FABOZZI MOORAD CHOUDHRY REN-RAW CHEN John Wiley & Sons, Inc. Credit Derivatives: Instruments, Applications, and Pricing
More informationTHE LITTLE BOOK OF STOCK MARKET PROFITS ffirs.indd i 05/10/11 3:05 PM
THE LITTLE BOOK OF STOCK MARKET PROFITS Little Book Big Profits Series In the Little Book Big Profi ts series, the brightest icons in the fi nancial world write on topics that range from tried-and-true
More informationESSENTIALS. of Foreign Exchange Trading
ESSENTIALS of Foreign Exchange Trading ESSENTIALS SERIES The Essentials Series was created for busy business advisory and corporate professionals. The books in this series were designed so that these busy
More informationNancy A. Herring, PhD, CPA. Annual Report Project
Nancy A. Herring, PhD, CPA Annual Report Project COPYRIGHT PAGE Cover page image 2010 PhotoDisc/Getty Images Copyright 2010 by John Wiley & Sons, Inc. All rights reserved. No part of this publication may
More informationMATHEMATICAL FINANCE Theory, Modeling, Implementation
MATHEMATICAL FINANCE Theory, Modeling, Implementation Christian Fries University of Frankfurt Department of Mathematics Frankfurt, Germany BICENTENNIAL BICENTENNIAL WILEY-INTERSCIENCE A John Wiley & Sons,
More informationWHAT ALL KIDS AND ADULTS TOO SHOULD KNOW ABOUT... SAVING AND SAVING & INVESTING INVESTING $ `
WHAT ALL KIDS SHOULD SAVING AND AND ADULTS TOO KNOW ABOUT... SAVING & INVESTING INVESTING $ ` WHAT ALL KIDS SHOULD AND ADULTS TOO KNOW ABOUT... SAVING & INVESTING WHAT ALL KIDS SHOULD KNOW ABOUT... SAVING
More informationVA HOME LOANS. Order the complete book from the publisher Booklocker.com
Written by a Marine Veteran, VA Home Loans is the quickest way for a service member, veteran or military spouse to understand EXACTLY what it takes to buy a home, and gives the tools and resources necessary
More informationThe Great Super Cycle
The Great Super Cycle The Great Super Cycle Profi t from the Coming Infl ation Tidal Wave and Dollar Devaluation David Skarica John Wiley & Sons, Inc. Copyright 2011 by David Skarica. All rights reserved.
More informationFund Funds. Fund of Funds Investing. A Roadmap to Portfolio Diversification DANIEL STRACHMAN / RICHARD BOOKBINDER. Praise for DA N I EL ST R ACH M A N
Praise for Fund of Funds Investing has been working on Wall Street for more than fifteen years, providing services and advice to individuals and institutions. He is also editor of This book is a clear,
More informationHow to Make a Living Trading Foreign Exchange
How to Make a Living Trading Foreign Exchange Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Australia, and
More informationPrinciples of Group Accounting under IFRS
Principles of Group Accounting under IFRS Principles of Group Accounting under IFRS by Andreas Krimpmann This edition first published 2015 2015 John Wiley & Sons, Ltd Registered office John Wiley & Sons
More informationUcap Hong Kong Asset Management Limited. Weekly Equity Review. 25 th September 2018
Ucap Hong Kong Asset Management Limited Weekly Equity Review 25 th September 2018 Equity Highlights Investment Recommendations Global Leaders Global Leaders Current List Next-Gen Leaders Japanese Global
More information