August 10, 2013
Book Bits | 8.10.13
● Fixed Income Relative Value Analysis: A Practitioners Guide to the Theory, Tools, and Trades
By Doug Huggins and Christian Schaller
Summary via publisher, Bloomberg/Wiley
As western governments issue increasing amounts of debt, the fixed income markets have never been more important. Yet the methods for analyzing these markets have failed to keep pace with recent developments, including the deterioration in the credit quality of many sovereign issuers. In Fixed Income Relative Value Analysis, Doug Huggins and Christian Schaller address this gap with a set of analytic tools for assessing value in the markets for government bonds, interest rate swaps, and related basis swaps, as well as associated futures and options. Taking a practitioner’s point of view, the book presents the theory behind market analysis in connection with tools for finding and expressing trade ideas. The extensive use of actual market examples illustrates the ways these analytic tools can be applied in practice.
● Breaking Up the Euro: The End of a Common Currency
By Dimitris N. Chorafas
Summary via pubilsher, Palgrave Macmillan
The drama of the common currency is a hot topic. The Euro was planned for the European Union's member states, bringing economically strong nations like Germany and Holland and weaker nations like Greece, Spain and Italy under one set of currency rules. A dozen years of its implementation has shown that the planning was incomplete at best. Add to this the weight of a deepening debt crisis among western nations, which continues unabated, and Europe has a very deep financial hole to climb out of. In this work, Dimitris N. Chorafas provides the reader with evidence to poor political judgment, then delves into preparation for the foreseeable Euro breakup and confronts the redenomination risk associated to it.
● Wall Street Research: Past, Present, and Future
By Boris Groysberg and Paul M. Healy
Summary via publisher, Stanford University Press
Wall Street Research: Past, Present, and Future provides a timely account of the dramatic evolution of Wall Street research, examining its rise, fall, and reemergence. Despite regulatory, technological, and global forces that have transformed equity research in the last ten years, the industry has proven to be remarkably resilient and consistent. Boris Groysberg and Paul M. Healy get to the heart of Wall Street research—the analysts engaged in the process—and demonstrate how the analysts' roles have evolved, what drives their performance today, and how they stack up against their buy-side counterparts. The book unpacks key trends and describes how different firms have coped with shifting pressures. It concludes with an assessment of where equity research is headed in emerging markets, drawing conclusions about this often overlooked corner of Wall Street and the industry's future challenges.
● Lifeblood: Oil, Freedom, and the Forces of Capital
By Matthew T. Huber
Summary via publisher, University of Minnesota Press
Looking beyond the usual culprits, Lifeblood uses oil to retell American political history from the triumph of New Deal liberalism to the rise of the New Right, from oil’s celebration as the lifeblood of postwar capitalism to increasing anxieties over oil addiction.
● Architects of Electronic Trading: Technology Leaders Who Are Shaping Today's Financial Markets
By Stephanie Hammer
Summary via publisher, Wiley
Featuring contributions from technology visionaries at leading alternative investors, hedge funds, trading firms, exchanges, and vendors, this book covers current trends in trading technology. The book features interviews with the leaders responsible for the technology that is shaping today's electronic financial markets. You'll hear the views of CIOs, CTOs, and other technology leaders on emerging technologies, innovation in the financial sector, and how technology is enhancing markets in ways other than just speed. Their perspectives on harnessing technology to enhance computing power, reduce time to market, bolster risk management, and much more offer valuable lessons for readers.
● Kirkpatrick's Investment and Trading Strategies: Tools and Techniques for Profitable Trend Following
By Charles D. Kirkpatrick II
Summary via publisher, FT Press
Drawing on statistical testing of markets from 1990 to the present, Kirkpatrick identifies combinations of technical tests that have consistently delivered the best performance. Using them, he shows how to identify stocks that are now demonstrating the strongest relative and absolute strength. Next, he identifies specific trend following indicators most likely to identify the first signs of trend reversals--and, thus, the right time to sell. Throughout, Kirkpatrick offers detailed, practical, and example-rich guidance for using these indicators, providing all the detail you need to implement an investment strategy that is both profitable and risk-averse.
Posted by jp at August 10, 2013 4:33 AM