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The True Gold Standard - A Monetary Reform Plan without Official Reserve Currencies by Lewis E. Lehrman : the books
A second lesson of this book is the pernicious falsehood, spread worldwide, by the trendy quotation drawn from John Maynard Keynes: In the long run we are all dead. Such indifference or cynicism towards future generations may characterize a few self-centered individuals. But throughout the world, for parents and grandparents and most individuals, the long-run common good is an essential preoccupation of every generation sharing the human condition and its hope for the future.
A third lesson of this book is that there is a time-tested way out of the present world financial crisis.
This Monetary Reform Plan proposes to establish the framework for an enduring, stable value for the United States dollar; that is, to define the dollar by statute as a certain weight unit of gold to be coined into lawful money.
A dollar convertible to gold is warranted by the United States Constitution in Article I, Sections 8 and 10. A monetary standard of precious metal (gold and silver) was the monetary foundation, the gyroscope of the great Industrial Revolution of the western world, giving rise, after the Coinage Act of 1792, to a stable American currency. For two centuries, free markets, free prices, and international trade were gradually integrated worldwide by the gradual adoption among nations of the international gold standard. Major wars did interrupt. But over the long run, sound money, free prices, and economic productivity led to population expansion, unprecedented growth of international trade, and prosperity.
Employment growth, a rising standard of living, and a reasonably stable price level became the economic hallmarks of the United States from the Coinage Act of 1792 until 1971 when the last vestige of dollar linkage to gold was suspended. The rise of thirteen impoverished colonies by the sea to world leadership was associated with a stable dollar, that is, a dollar convertible to gold.
After 1971, floating-paper currencies, mixed with pegged and manipulated exchange rates, have caused alternating episodes of inflation, deflation, and protectionism to this very day. There has, it is true, been economic growth since 1971, but the real (inflation-adjusted) American standard of living has been falling. Average, hourly, real wages have stagnated since 1971, only compensated by more family members at work. Average, real family income has fallen for more than a decade making the American paper money era, during its most recent chapter, a false inflationary prosperity except for the very rich.
Throughout ancient and modern history it was the unique properties of the gold monetary standard which made it universally acceptable to trading peoples in the market. The test of what The Purpose of The True Gold Standard will endure as honest money can only be studied in the empirical laboratory of human history; mathematical abstractions, drawn from the blackboards of academic economists, will not do. Because trust and universal acceptability are the trademarks of honest money these virtues must be affirmed, in the long run, by the tests of the open market, and then reinforced by wise, limited, and prudent governments which understand and embrace the inductive, tested verdict of the market.Dynamic Hedging: Managing Vanilla and Exotic Options by Nassim Nicholas Taleb : https://www.nitroflare.com/view/F9A8A407D09687E/0471152803.epub
The author discusses, in plain English, vital issues, including:
The generalized option, which encompasses all instruments with convex payoff, including a trader's potential bonus.
The techniques for trading exotic options, including binary, barrier, multiasset, and Asian options, as well as methods to take into account the wrinkles of actual, non-bellshaped distributions.
Market dynamics viewed from the practitioner's vantage point, including liquidity holes, portfolio insurance, squeezes, fat tails, volatility surface, GARCH, curve evolution, static option replication, correlation instability, Pareto-Levy, regime shifts, autocorrelation of price changes, and the severe flaws in the value at risk method.
New tools to detect risks, such as higher moment analysis, topography exposure, and nonparametric techniques.
The path dependence of all options hedged dynamically.
Dynamic Hedging is replete with helpful tools, market anecdotes, at-a-glance risk management rules distilling years of market lore, and important definitions. The book contains modules in which the fundamental mathematics of derivatives, such as the Brownian motion, Ito's lemma, the numeraire paradox, the Girsanov change of measure, and the Feynman-Kac solution are presented in intuitive practitioner's language.
Dynamic Hedging is an indispensable and definitive reference for market makers, academics, finance students, risk managers, and regulators.
The definitive book on options trading and risk management
"If pricing is a science and hedging is an art, Taleb is a virtuoso." -Bruno Dupire, Head of Swaps and Options Research, Paribas Capital Markets
"This is not merely the best book on how options trade, it is the only book." -Stan Jonas, Managing Director, FIMAT-Society GARCH
"Dynamic Hedging bridges the gap between what the best traders know and what the best scholars can prove." -William Margrabe, President, The William Margrabe Group, Inc.
"The most comprehensive, insightful, intuitive work on the subject. It is instrumental for both beginning and experienced traders."-
"A tour de force. That rare find, a book of great practical and theoretical value. Taleb successfully bridges the gap between the academic and the real world. Interesting, provocative, well written. Each chapter worth a fortune to any current or prospective derivatives trader."-Victor Niederhoffer, Chairman, Niederhoffer InvestmentsPrivate Equity Investing in Emerging Markets: Opportunities for Value Creation (Global Financial Markets) by Roger Leeds : the book
Drawing heavily on the author's almost four decades of experience as both a practitioner and academician working with private equity investors, entrepreneurs and policymakers in over 100 developing countries around the world, Private Equity Investing in Emerging Markets uses anecdotes and case studies to illustrate and reinforce the key arguments for private equity investment in emerging economies.
Van Tharp's Definitive Guide to Position Sizing : the book
Your success as a trader has little to do with selecting the right investment or even having a great system. Instead, it has everything to do with the “how much” factor when you invest or trade.
Investment professionals have called this factor “asset allocation” or “money management.” However, they failed to understand that the key aspect was “how much” to invest in any position. Others work so hard to get themselves a good system, but fail to realize that position sizing strategies are the key to getting what they really want.
When you have a great trading system, it is certainly easier to meet your system objectives through your position sizing method; however, you still have a chance to meet your objectives and profit with an average system if you understand how to position size properly. Yes, your position sizing strategy is that important.
For many years Dr. Tharp has specialized in helping traders and investors understand position sizing strategies and how to use them effectively. He originally published The Money Management Report as his guide to position sizing methods. But thanks to an overwhelming demand from his clients, we’ve now published the book you’ve all been waiting for, Dr. Tharp’s Definitive Guide to Position Sizing.
What You'll Learn
When Dr. Tharp’s clients reviewed this book for publication, many found it so valuable that they did not want to return it once they finished their review.
In the Definitive Guide to Position Sizing Strategies you’ll discover the following:
What's New in the Second Edition
Before updating the book for the second edition, we polled readers of the first edition to find out what they liked and how they thought the book could be improved. While most readers ranked the 1st edition at 10 out of 10, we did get some valuable suggestions which we incorporated.
Here’s a list of the second edition improvements:
Finally, for the second edition, some of the Excel files used in the book are available for download. Interested readers will have the ability to study some of the data from the book and experiment with it if they like.
I am interested about Forex trading. But don't get available source for that. Can anyone suggest me what should I follow to learn about Forex Trading?
I am interested about Forex trading. But don't get available source for that. Can anyone suggest me what should I follow to learn about Forex Trading?
Why don't you try with some of the books from this thread?
Thierry Foucault, Marco Pagano, "Market Liquidity: Theory, Evidence, and Policy" : the book
David Iverson, "Strategic Risk Management: A Practical Guide to Portfolio Risk Management" : the book
Probability and Statistics for Finance by Svetlozar T. Rachev : the book
Market Timing For Dummies by Joe Duarte : the book