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Mortgage markets are more than simply the means by which real estate transactions are financed; they are a key indicator of the level of development of a country's entire economy, in which banks are able to manage the associated risk, and where governments use them to promote their social and economic policies. China, India, Singapore, Hong Kong, Japan, Ghana, South Africa, Israel, and Poland are all covered in this book, as well as comparative studies of the Czech Republic, Hungary, Slovakia, Slovenia, Russia, and a long list of emerging economies. These represent both different regions of the world and markets at varying stages of economic and financial development. The editors present an institutional, empirical and theoretical evaluation of different housing finance systems, presenting a collection of studies that describe various aspects of selected mortgage markets around the world. Questions relating to housing finance efficiency and contract heterogeneity are examined and the securitization experiences in these countries are analysed, offering valuable lessons on how mortgage markets are integrated with capital markets and how particular institutional frameworks interact with mortgage markets. Short reviews on each mortgage market are given covering institutional aspects of the markets, such as the size and structure of the market (including flows and accumulation of funds); a description of the competition and a presentation of the major competitors (including market share and major financial measures); profitability in the market, with trends and structural changes; the major mortgage instruments and their market share; special tax issues; the role of the government in the market; defaults, prepayments and mortgage insurance; and major regulatory issues. Through this thorough analysis, the major existing problems in the mortgage market of each country are explored, highlighting the current steps adopted to solve these problems, propositions for dealing with the major issues in the future and the implied developments in the market. Researchers in real estate and housing economics throughout the world – as well as city analysts – will gain through Mortgage Markets Worldwide a better understanding of this rich and complex market. Получить ссылку |
Be a Sales Superstar. 21 Great Ways to Sell More, Faster, Easier in Tough Markets
Автор: Брайан Трейси
Год издания:
Brian Tracy shares the most important principles for sales success he has discovered in 30 years of training more than a half million sales professionals in 23 countries. Based on Tracy’s detailed discussions with top salespeople and his keen observation of their methods, as well as his own experiences as a record-breaking salesman, these guidelines address both the inner game of selling—the mental component—and the outer game of selling—the methods and techniques of actually making the sale. Concise and action-oriented, Be a Sales Superstar is a handbook for busy sales professionals, providing key ideas and techniques that will immediately increase your effectiveness and boost your results. Brian Tracy shows you how to: • Get more and better appointments, easier; • Build high rapport in the first few minutes; • Make better, more effective sales presentations • Close more sales faster than ever before Apply Tracy’s 21 great ways to be a superstar salesperson, and your success in selling will become unlimited.
Bayesian Risk Management. A Guide to Model Risk and Sequential Learning in Financial Markets
Автор: Matt Sekerke
Год издания:
A risk measurement and management framework that takes model risk seriously Most financial risk models assume the future will look like the past, but effective risk management depends on identifying fundamental changes in the marketplace as they occur. Bayesian Risk Management details a more flexible approach to risk management, and provides tools to measure financial risk in a dynamic market environment. This book opens discussion about uncertainty in model parameters, model specifications, and model-driven forecasts in a way that standard statistical risk measurement does not. And unlike current machine learning-based methods, the framework presented here allows you to measure risk in a fully-Bayesian setting without losing the structure afforded by parametric risk and asset-pricing models. Recognize the assumptions embodied in classical statistics Quantify model risk along multiple dimensions without backtesting Model time series without assuming stationarity Estimate state-space time series models online with simulation methods Uncover uncertainty in workhorse risk and asset-pricing models Embed Bayesian thinking about risk within a complex organization Ignoring uncertainty in risk modeling creates an illusion of mastery and fosters erroneous decision-making. Firms who ignore the many dimensions of model risk measure too little risk, and end up taking on too much. Bayesian Risk Management provides a roadmap to better risk management through more circumspect measurement, with comprehensive treatment of model uncertainty.
The Most Dangerous Trade. How Short Sellers Uncover Fraud, Keep Markets Honest, and Make and Lose Billions
Автор: Richard Teitelbaum
Год издания:
How short sellers profit from disasters that afflict individuals, markets, and nations The Most Dangerous Trade serves up tales from the dark side of the world marketplace to reveal how traders profit from the failure and, often, the financial ruin of others. In this book Richard Teitelbaum profiles more than a dozen short sellers to reveal how they employ the tactics, strategies, and various styles to zero in on their target, get the needed financing, and see their investment through to its ultimate conclusion. The short sellers profiled will include stories of both their successful investments as well as their disastrous ventures. The book will examine the different styles, strategies, and tactics utilized, looking at how each short seller researches his or her targets, obtains financing, puts on a trade, and sees the investment through to fruition—or failure. With the appeal of a well-written adventure novel, The Most Dangerous Trade reveals how these investors seek publicity to help drive down a stock and shows the often bitter and controversial battles that ensue. Includes profiles of well-know short sellers such as Jim Chanos, Steve Eisman, Manuel Ascencio, Doug Kass, and many more Discover how short sellers make the «puts» that make them billions Uncover the short selling controversies that make headlines Written by award-winning journalist Richard Teitelbaum Discover what motivates investors who wager against the stock market and how they often profit from the misery of others.
Financial Markets, Banking, and Monetary Policy
Автор: Thomas Simpson D.
Год издания:
Praise for Financial Markets, Banking, and Monetary Policy “A lucid treatment that takes on board shadow-banking, Dodd-Frank, the zero lower bound, and forward guidance. In short, all the key post-crisis issues.” —Anil Kashyap, Edward Eagle Brown Professor of Economics and Finance, University of Chicago “The financial sector is a vital component of the US economic machinery. The Federal Reserve works within this sector to promote its congressional mandates of maximum employment and low inflation. Unfortunately, the contribution of the financial system to the economy’s performance is not well understood. Students of standard college courses on money, banking, and monetary policy often find that the textbooks have not kept pace with the evolution of the financial sector, including the rise of securitized finance and the Federal Reserve’s evolving monetary operations. Tom Simpson’s book represents a huge step forward in this regard. His comprehensive exposition of the essential parts of the financial system and modern explanation of how the Federal Reserve supports the economy gives readers a much better understanding of the US financial system and the Federal Reserve.” —James Glassman, Managing Director and Head Economist for the Commercial Bank, JPMorgan Chase & Co. “Financial Markets, Banking, and Monetary Policy by Tom Simpson provides a comprehensive introduction to the financial system, including the markets, institutions, and mechanisms of finance, as well as the role of the Federal Reserve and monetary policy. The economic principles underlying finance are woven through the chapters, and the book includes an insightful introduction into the causes of and responses to the recent financial crisis. Tom Simpson has had a front-row seat on financial developments in recent decades and has written a book that provides an ideal introduction to the financial system and monetary policy.” —Dan Sichel, Professor of Economics, Wellesley College
Emerging Markets in an Upside Down World. Challenging Perceptions in Asset Allocation and Investment
Автор: Jerome Booth
Год издания:
The world is upside down. The emerging market countries are more important than many investors realise. They have been catching up with the West over the past few decades. Greater market freedom has spread since the end of the Cold War, and with it institutional changes which have further assisted emerging economies in becoming more productive, flexible, and resilient. The Western financial crisis from 2008 has quickened the pace of the relative rise of emerging markets – their relative economic power, and with it political power, but also their financial power as savers, investors and creditors. Emerging Markets in an Upside Down World – Challenging Perceptions in Asset Allocation and Investment argues that finance theory has misunderstood risk and that this has led to poor investment decisions; and that emerging markets constitute a good example of why traditional finance theory is faulty. The book accurately describes the complex and changing global environment currently facing the investor and asset allocator. It raises many questions often bypassed because of the use of simplifying assumptions and models. The narrative builds towards a checklist of issues and questions for the asset allocator and investor and then to a discussion of a variety of regulatory and policy issues. Aimed at institutional and retail investors as well as economics, finance, business and international relations students, Emerging Markets in an Upside Down World covers many complex ideas, but is written to be accessible to the non-expert.
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