Book Bits | 21 March 2015

Goals-Based Wealth Management: An Integrated and Practical Approach to Changing the Structure of Wealth Advisory Practices
By Jean L. P. Brunel
Summary via publisher (Wiley)
Goals-Based Wealth Management is a manual for protecting and growing client wealth in a way that changes both the services and profitability of the firm. Written by a 35-year veteran of international wealth education and analysis, this informative guide explains a new approach to wealth management that allows individuals to take on a more active role in the allocation of their assets. Coverage includes a detailed examination of the goals-based approach, including what works and what needs to be revisited, and a clear, understandable model that allows advisors to help individuals to navigate complex processes.

More Evidence Against the Random Walk Hypothesis
By Shunxin Jiang
Summary via publisher (World Scientific)
This volume provides more evidence against the Random Walk Hypothesis and offers insights into market inefficiency through systematically trading exchange-traded funds (ETFs). The book is organized to answer the following three questions: Do ETF prices follow random walks? If not, what are some of the factors that impact their non-random walk behavior? How can investors take advantage of such price dynamics in trading ETFs?

Transforming Wall Street: A Conscious Path for a New Future
By Kim Ann Curtin
Summary via
When did capitalism and making money become bad things? Where do you draw the line between making a living and greed? Can you work on Wall Street without selling your soul? Is it possible there are more decent people working on Wall Street than there are wolves? In this book, Curtin challenges the established narrative of self-interest and greed that has informed so much of the coverage around Wall Street, and sets out an optimistic and positive vision for the future of America’s financial heart. This book combines fresh insight, intelligence, and experience from fifty leading Wall Street luminaries, a panel of academic experts, and a wide-ranging group of Teachers of Consciousness – offering an eye-opening and soul-inspiring insight into the way that conscious capitalism is transforming America’s financial industry.

The Philosophical Investor: Transforming Wisdom into Wealth
By Gary Carmell
Summary via
Living in Southern California, Gary Carmell has become very familiar with tectonic shifts: cataclysmic changes in the earth’s crust that cause earthquakes and tsunamis. Carmell has also experienced numerous tectonic shifts in the economic landscape in his nearly thirty-year investing career. Correctly anticipating economic trends has allowed his real estate investment and management firm, CWS Capital Partners LLC, to grow from assets of $250 million in the late 1980s to over $3 billion today.

Heaven’s Bankers: Inside the Hidden World of Islamic Finance
By Harris Irfan,
Review via The New York Times
With this book Harris Irfan, who headed Islamic finance teams at Barclays and Deutsche Bank and now runs his own Islamic finance advisory group, aims to enlighten. “Heaven’s Bankers” has two strands, which Irfan weaves together adeptly. The first is a condensed history of modern Islamic finance…. Irfan’s second strand examines the religious principles underlying Islamic finance: what the Quran and Hadith say about money and trading, and what Shariah — the corpus of Islamic law as interpreted by scholars — forbids and permits in the economic sphere.

It’s The Economy, Stupid: Economics for Voters
By Vicky Pryce, Andy Rice, and Peter Urwin
Summary via publisher (BiteBack Publishing)
While good economic news can send popularity sky-rocketing, bad performance can blight a party’s election chances for years. But, with policies often working with time lags, it’s rarely clear who is responsible for what – especially when their stances on the biggest issues of the day – immigration, the EU, the NHS – are clouded in rhetoric rather than grounded in hard economic fact. It’s the Economy, Stupid sets out to change all that. This incisive, accessible guide explodes some of the most entrenched myths of British political debate. Does immigration help or harm our economy? Are austerity measures the best way to tackle a financial meltdown? Is the NHS in crisis? With answers to all these questions and more, this is essential reading for anyone who wants to know how their vote will affect their financial future.