An institutional investor's guide to the burgeoning field of reverse mortgage securitization Reverse Mortgages and Linked Securities is a contributed title comprising many of the leading minds in the Home Equity Conversion Mortgages (HECM) industry, including reverse mortgage lenders, institutional investors, underwriters, attorneys, and regulators. This book begins with a brief history of reverse mortgages, and quickly moves on to discuss how the industry has evolved-detailing the players in these markets as well as the process. It discusses the securitization of reverse mortgages and other linked securities and includes coverage of pricing techniques and risk mitigation. This reliable resource also takes the time to cover the current regulatory environment of the HECM market, which is constantly changing due to the current state of the real estate market. Highlights specific strategies that will allow institutional investors to benefit from the resurgence of reverse mortgages and linked securities One of the only guides to reverse mortgages and linked securities targeted towards institutional investors interested in securitized products If you want to make the most of reverse mortgages and linked securities, take the time to read this book.
AARP Digital Editions offer you practical tips, proven solutions, and expert guidance. Reverse Mortgages and Linked Securities is a contributed title comprising many of the leading minds in the Home Equity Conversion Mortgages (HECM) industry, including reverse mortgage lenders, institutional investors, underwriters, attorneys, and regulators. This book begins with a brief history of reverse mortgages, and quickly moves on to discuss how the industry has evolved-detailing the players in these markets as well as the process. It discusses the securitization of reverse mortgages and other linked securities and includes coverage of pricing techniques and risk mitigation. This reliable resource also takes the time to cover the current regulatory environment of the HECM market, which is constantly changing due to the current state of the real estate market. Highlights specific strategies that will allow institutional investors to benefit from the resurgence of reverse mortgages and linked securities One of the only guides to reverse mortgages and linked securities targeted towards institutional investors interested in securitized products If you want to make the most of reverse mortgages and linked securities, take the time to read this book.
An accessible introduction to trading currencies While the Foreign Exchange (Forex) market can be a very profitable place, you must have a firm understanding of how to operate within this environment if you intend on achieving any success. That's why you need Getting Started in Currency Trading, Third Edition. This reliable resource-written for both newcomers and those with some Forex experience-puts trading world currencies in perspective, and shows you exactly what it takes to make it in this field. Guides you through the process of opening your own account as well as the actual placing and managing of currency orders Offers specific trading strategies and tactics A companion Web site will provide updates on brokers and FOREX services; an author's Blog will answer your questions about all aspects of trading Includes a new chapter on Forex trading platforms The often confusing FOREX calculations are reduced to handy computer-side tables On the heels of the recent market crash, this fully revised Third Edition is filled with in-depth insights and practical advice that takes into account all of the recent changes in the currency market and shows you how to profit from them.
A ONE-STOP GUIDE FOR THE THEORIES, APPLICATIONS, AND STATISTICAL METHODOLOGIES OF MARKET RISK Understanding and investigating the impacts of market risk on the financial landscape is crucial in preventing crises. Written by a hedge fund specialist, the Handbook of Market Risk is the comprehensive guide to the subject of market risk. Featuring a format that is accessible and convenient, the handbook employs numerous examples to underscore the application of the material in a real-world setting. The book starts by introducing the various methods to measure market risk while continuing to emphasize stress testing, liquidity, and interest rate implications. Covering topics intrinsic to understanding and applying market risk, the handbook features: An introduction to financial markets The historical perspective from market events and diverse mathematics to the value-at-risk Return and volatility estimates Diversification, portfolio risk, and efficient frontier The Capital Asset Pricing Model and the Arbitrage Pricing Theory The use of a fundamental multi-factors model Financial derivatives instruments Fixed income and interest rate risk Liquidity risk Alternative investments Stress testing and back testing Banks and Basel II/III The Handbook of Market Risk is a must-have resource for financial engineers, quantitative analysts, regulators, risk managers in investments banks, and large-scale consultancy groups advising banks on internal systems. The handbook is also an excellent text for academics teaching postgraduate courses on financial methodology.
A timely update to the book on using the Market Profile method to trade Emerging over twenty years ago, Market Profile analysis continues to realize a strong following among active traders. The approach explains the underlying dynamics and structure of markets, identifies value areas, price rejection points, and measures the strength of buyers and sellers. Unlike more conventional forms of technical analysis, Market Profile is an all-encompassing approach, and Mind Over Markets, Updated Edition provides traders with a solid understanding of it. Since the first edition of Mind Over Markets—considered the best book on applying Market Profile analysis to trading—was published over a decade ago, much has changed in the worlds of finance and investing. That's why James Dalton, a pioneer in the popularization of Market Profile, has returned with a new edition of this essential guide. Written to reflect today's dynamic market conditions, Mind Over Markets, Updated Edition clearly puts this unique method of interpreting market behavior and identifying trading/investment opportunities in perspective. Includes new chapters on Market Profile-based trading strategies, using Market Profile in connection with other market indicators, and much more Explains how the Market Profile approach has evolved over the past twenty-five years and how it is used by contemporary traders Written by a leading educator and authority on the Market Profile One of the key elements that has long separated successful traders from the rest is their intuitive understanding that time regulates all financial opportunities. The ability to record price information according to time has unleashed huge amounts of useful market information. Mind Over Markets, Updated Edition will show you how to profitably put this information to work for you.
A practical guide to the features and investment characteristics of CDOs In the bond area, collateralized debt obligations, which include collateralized bond obligations and collateralized loan obligations, are the fastest-growing sector. Collateralized Debt Obligations: Structures and Analysis describes the various products in this area-cash flow CDOs, market value CDOs, synthetic CDOs, etc.-and explains how to evaluate them. With this book as their guide, investment managers and institutional investors alike will learn how to analyze the risks associated with CDOs, create a portfolio of CDO products, and assess trading opportunities in the secondary market.
An accessible guide to identifying and profiting from financial market trends Profiting from long-term trends is the most common path to success for traders. The challenge is recognizing the emergence of a trend and determining where to enter and exit the market. No body is more familiar with this situation than author Tina Logan. Now, in Profiting from Market Trends, she shares here extensive insights in this area with you. Divided into four comprehensive parts?trend development, change in trend direction, reading the market, and profiting from technical analysis?this reliable resource skillfully describes how to identify the emergence of a new trend; quantify the strength of the trend; identify signals that confirm the trend or warn that the trend may be ending; and place trades to profit from trends. Written in an easy to understand and engaging style, Profiting from Market Trends effectively addresses how to apply the information provided to make money in today's dynamic markets. Examines essential tools for making the most of trend analysis Offers insights on how to execute the techniques discussed in real-world situations Written by a well-respected trader and trainer of traders Understanding and identifying trends is one of the most important factors in successful trading. This book will show you how to achieve this elusive goal.
A comprehensive guide to the continuously evolving world of securitization The Second Edition of The Securitization Markets Handbook is a valuable resource for both experienced money managers trying to put a securitization strategy into place as well as newcomers looking to acquire a broad and strong foundation in this discipline. This edition takes a close look at the pre- and post-crash mortgage market and the mortgage-backed securities based on those mortgages, as well as other asset-backed securities including commercial paper or credit cards. The crash of the subprime market and the failure of the asset-backed markets offer an opportunity to learn about banking finance, specifically off-balance sheet finance, and the many costly mistakes that resulted in one of the most severe downturns in financial markets. With this book, you'll discover why certain mortgage and asset-backed securities imploded and others didn't. This new edition examines why the market failed and how the next crisis can be averted or made less severe. It also explains why securitization remains a primary source of capital for the mortgage market, credit card market, home equity market, auto loan market, and segments of the commercial paper market. Offers an informed overview of how the securitization market works, how to make money in it, and what's next for asset- and mortgage-backed securities after the crisis Contains new chapters on CDOs and SIVs, along with a history of the growth and crash of the subprime market, asset-backed securities, and home equity lines of credit Written by securitization experts Charles Stone and Anne Zissu Updated to reflect the current market environment, the Second Edition of The Securitization Markets Handbook offers clear, comprehensive guidance to these complex markets.
A top forex trader reveals how to ease into this market and excel Trading the forex market has become one of the most popular forms of trading, mainly because of its twenty-four-hour access and the fact that there is always a bull market available in this arena. But not everyone is interested in quitting their jobs and spending all day trying to make a living trading. That's where Forex in Five Hours a Week comes in. This book shows readers how they can master a few techniques, focus their efforts on their choice of time frame, and profit in the forex market. Readers with a day job and little time to dedicate to the market will learn all they need to know to capture consistent profits
Honorable mention – Biomedicine and Neuroscience, 2011 Prose Awards An examination of how the cell should be described in order to effectively process biological data «The fruitful pursuit of biological knowledge requires one to take Einstein's admonition [on science without epistemology] as a practical demand for scientific research, to recognize Waddington's characterization of the subject matter of biology, and to embrace Wiener's conception of the form of biological knowledge in response to its subject matter. It is from this vantage point that we consider the epistemology of the cell.» —from the Preface In the era of high biological data throughput, biomedical engineers need a more systematic knowledge of the cell in order to perform more effective data handling. Epistemology of the Cell is the first authored book to break down this knowledge. This text examines the place of biological knowledge within the framework of science as a whole and addresses issues focused on the specific nature of biology, how biology is studied, and how biological knowledge is translated into applications, in particular with regard to medicine. The book opens with a general discussion of the historical development of human understanding of scientific knowledge, the scientific method, and the manner in which scientific knowledge is represented in mathematics. The narrative then gets specific for biology, focusing on knowledge of the cell, the basic unit of life. The salient point is the analogy between a systems-based analysis of factory regulation and the regulation of the cell. Each chapter represents a key topic of current interest, including: Causality and randomness Translational science Stochastic validation: classification Stochastic validation: networks Model-based experimentation in biology Epistemology of the Cell is written for biomedical researchers whose interests include bioinformatics, biological modeling, biostatistics, and biological signal processing.
Proven techniques for market profile users at any level A «market profile» presents a number of basic elements from the market in an easily understood graphic format that, when analyzed properly, can yield profitable intraday and swing trades that traditional indicators do not reveal. Steidlmayer on Markets shows readers how to find these opportunities using the innovative techniques developed by the author during his many years of trading the market. This fully updated Second Edition covers innovations in both technology and technique-and broadens the scope of «market profile» to include stocks. J. Peter Steidlmayer (Chicago, IL) joined the Chicago Board of Trade in 1963 and has been an independent trader ever since. Steidlmayer served on the Board of Directors of the Board of Trade in 1981-1983. While a director, he was responsible for initiating Market Profile and the Liquidity Data Bank. Steve Hawkins (Chicago, IL) has experience in trading in both stocks and commodities. Over the past seven years, Hawkins has educated traders across the globe. He has also collaborated on the writing of books on trading and written articles for industry trade publications. He is a graduate of the University of Illinois with a degree in economics. New technology and the advent of around the clock trading have opened the floodgates to both foreign and domestic markets. Traders need the wisdom of industry veterans and the vision of innovators in today's volatile financial marketplace. The Wiley Trading series features books by traders who have survived the market's ever changing temperament and have prospered-some by reinventing systems, others by getting back to basics. Whether a novice trader, professional or somewhere in-between, these books will provide the advice and strategies needed to prosper today and well into the future.
In Securities Finance, editors Frank Fabozzi and Steven Mann assemble a group of prominent practitioners in the securities finance industry to provide readers with an enhanced understanding of the various arrangements in the securities finance market. Divided into three comprehensive parts—Securities Lending, Bond Financing via the Repo Market, and Equity Financing Alternatives to Securities Lending—this book covers a wide range of securities finance issues, including alternative routes to the securities lending market, evaluating risks in securities lending transactions, U.S. and European repo markets, dollar rolls and their impact on MBS valuation and strategies, derivatives for financing equity positions and equity repos, and more. Filled with in-depth insight and expert advice, Securities Finance contains the information readers need to succeed in this rapidly expanding market.
Drive profit and manage risk with expert guidance on trade processing The Trade Lifecycle catalogues and details the various types of trades, including the inherent cashflows and risk exposures of each. Now in its second edition, this comprehensive guide includes major new coverage of traded products, credit valuation adjustment, regulation, and the role of information technology. By reading this, you’ll dissect a trade into its component parts, track it from preconception to maturity, and learn how it affects each business function of a financial institution. You will become familiar with the full extent of legal, operational, liquidity, credit, and market risks to which it is exposed. Case studies of real projects cover topics like FX exotics, commodity counterparty risk, equity settlement, bond management, and global derivatives initiatives, while the companion website features additional video training on specific topics to help you build a strong background in this fundamental aspect of finance. Trade processing and settlement combined with control of risk has been thrust into the limelight with the recent near collapse of the global financial market. This book provides thorough, practical guidance toward processing the trade, and the risks and rewards it entails. Gain deep insight into emerging subject areas Understand each step of the trade process Examine the individual components of a trade Learn how each trade affects everything it touches Every person working in a bank is highly connected to the lifecycle of a trade. It is the glue by which all departments are bound, and the aggregated success or failure of each trade determines the entire organization's survival. The Trade Lifecycle explains the fundamentals of trade processing and gives you the knowledge you need to further your success in the market.
A practical system for growing and protecting wealth in today's volatile markets Martin Truax and Ron Miller are financial professionals, who unlike others in this field, have made money in today's volatile market. While stock markets have been down fifty percent, they've managed to be up seventy percent. This book clearly explains the highly successful portfolio management system used by the authors to protect their clients' wealth as well as garner substantial gains-by participating in profitable market opportunities when they occur. Divided into several informative and engaging sections, The Evergreen Portfolio reveals how you can use hedges to protect the long portion of your portfolio when the market starts to go down. It covers the tactical and technical methodologies needed to protect and grow your assets at a time when many investors are getting wiped out. Discusses the keys to succeeding in today's market, including the best ways to invest in gold, diversify with foreign currency, and much more Contains insights from top minds in the market such as Mark Skousen and Bob Precther Offers an effective solution to the investment and retirement problems we all now face Written with the serious investor in mind, The Evergreen Portfolio reveals one of the best ways to protect and grow your money in a turbulent financial environment.