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Kingmaker: Be the One Your Company Wants to Keep... on Your Terms
Joanne Cini Manufacturer: Financial Times Prentice Hall ProductGroup: Book Binding: Hardcover ASIN: 0131840304 |
Customer Reviews:
Learning from real life experience.......2006-09-12
A must-read for anyone in business.......2005-07-09
Hits a nice stride in part 2..........2004-12-27
The One I AM Going To Keep!.......2004-12-22
Kingmaker : Exactly Right !.......2004-03-27
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Kingmaker : Be the One Your Company Wants to Keep. on Your Terms
Joanne Cini Manufacturer: Financial Times Prentice Hall ProductGroup: Book Binding: Paperback ASIN: B000OICRLS |
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Market Neutral Strategies (Wiley Finance Series)
Manufacturer: Wiley ProductGroup: Book Binding: Hardcover Similar Items:
ASIN: 0471268682 |
Book Description
An inside view of what makes market neutral strategies tick and how they can be implementedMarket neutral strategies have gained attention for their potential to deliver positive returns regardless of the direction of underlying markets. As these strategies have built a record of good performance in recent years, their benefits have become apparent. Market Neutral Strategies draws on the wisdom and experience of professional practitioners to describe strategies that are being utilized by some of today's leading institutional investors. This book provides readers with an insider's view of what makes these strategies work and how they can be implemented successfully. Topics covered include long-short equity and convertibles, fixed income and merger arbitrage; the tax and ERISA implications of market neutral investing; and the failure of two notorious "market neutral" ventures, Askin Capital Management and Long-Term Capital Management.
Bruce I. Jacobs (Florham Park, NJ) and Kenneth N. Levy are cofounders and principals of Jacobs Levy Equity Management, in Florham Park, New Jersey. They are coauthors of Equity Management: Quantitative Analysis for Stock Selection. Bruce Jacobs holds a PhD in finance from the Wharton School of the University of Pennsylvania. He is also the author of Capital Ideas and Market Realities: Option Replication, Investor Behavior, and Stock Market Crashes.
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An inside view of what makes market neutral strategies tick and how they can be implemented Market neutral strategies have gained attention for their potential to deliver positive returns regardless of the direction of underlying markets. As these strategies have built a record of good performance in recent years, their benefits have become apparent. Market Neutral Strategies draws on the wisdom and experience of professional practitioners to describe strategies that are being utilized by some of today's leading institutional investors. This book provides readers with an insider's view of what makes these strategies work and how they can be implemented successfully. Topics covered include long-short equity and convertibles, fixed income and merger arbitrage; the tax and ERISA implications of market neutral investing; and the failure of two notorious "market neutral" ventures, Askin Capital Management and Long-Term Capital Management. Bruce I. Jacobs (Florham Park, NJ) and Kenneth N. Levy are cofounders and principals of Jacobs Levy Equity Management, in Florham Park, New Jersey. They are coauthors of Equity Management: Quantitative Analysis for Stock Selection. Bruce Jacobs holds a PhD in finance from the Wharton School of the University of Pennsylvania. He is also the author of Capital Ideas and Market Realities: Option Replication, Investor Behavior, and Stock Market Crashes
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The 50-Plus Market: Why the Future Is Age Neutral When It Comes to Marketing & Branding Strategies
Dick Stroud Manufacturer: Kogan Page ProductGroup: Book Binding: Paperback Similar Items:
ASIN: 074944939X |
Book Description
Baby boomers are the wealthiest, fastest-growing consumer group in the world, yet the market remains largely untapped by marketers. In fact, only five percent of worldwide ad budgets are geared toward older costumers while 80 percent goes to reaching 18- to 34-year-olds. Acknowledging that the 50-plus consumer market is foreign territory to many marketers, author Dick Stroud provides a how-to guide for key elements of a marketing strategy targeting boomers. His new approach to how companies can interact with older customers advocates age-neutral marketing strategies, ensuring the growing numbers of affluent consumers over the age of 50 aren't overlooked. Using research from OMD, the world's second-largest media communications firm in the world, "The 50-Plus Market" shows why the obsession with youth-centric marketing must end.Customer Reviews:
Assessing the affluent, over-50 market.......2006-04-13
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Market-Neutral Investing: Long/Short Hedge Fund Strategies
Joseph G. Nicholas Manufacturer: Bloomberg Press ProductGroup: Book Binding: Hardcover Similar Items:
ASIN: 1576600378 |
Book Description
Hedge fund investors are looking for downside protection while maintaining good returns--and market-neutral investing has become one of the hottest methods to meet that need. In this book, industry expert Joseph G. Nicholas explores new approaches to return enhancement and risk reduction through market-neutral strategies.Customer Reviews:
Not the best source for informatin.......2004-03-29
Highly Recommend!.......2003-12-06
Very good primer on this investment style.......2003-09-04
As Nicholas describes, the market neutral strategy encompasses eight different substrategies that deal with financial instruments ranging from equities, to convertible bonds, and mortgage backed securities. Nicholas dedicates a whole chapter for each substrategy. Within each chapter, he describes how a specific strategy structures its market neutral positions, how it earns its return, and what risks it bears.
Nicholas explains clearly that market neutral investing derives its return not from market movements, but from changes in the relationship or spread between its long positions and its short positions within a certain type of securities.
Market neutral investing consists in observing relationships between similar securities; and taking a long position in the ones that appear underpriced while taking a short position in similar securities that appear overpriced. This strategy is called convergence. The investor bets that the spread between the values of securities he is long and the one he is short will narrow. This entails that in relative term, the long positions are expected to appreciate and the short position are expected to depreciate. Thus, the values of the long undervalued positions and the values of the short overvalued positions should converge over time. That would be ideal. It does not always work out that way. Often, the long and short positions respective values do not converge, but diverge. That is what killed Long Term Capital Management.
The one caveat is that this book comes across as a commercial for market neutral investing. Nicholas convinces you will earn superior risk adjusted returns vs. regular investing strategies. Also, you will benefit from the market neutral strategies being uncorrelated to traditional stocks and bonds markets. Thus, market neutral strategies provide you with diversification benefits.
Regarding diversification benefits, Nicholas is correct. Given that these strategies returns are somewhat independent from market movements in the related securities, it makes sense that they would be uncorrelated to these same markets.
Nicholas assertion that these strategies provide superior risk adjusted return is less convincing. I would not be surprised his data is victim of survivor bias. If you select only the funds that survived during your research period, you ignore all the funds that failed during this same period. As a result, you overstate the performance of this investment style by selecting only the strong survivors. Additionally, his time horizon is too short. On page 7, he graphs the risk vs. returns for different market neutral strategies during the nineties alone. That is not long enough. Granted some of these strategies did not exist for much longer. Thus, we can't tell yet if performance is for real. Also, he states that all these strategies are above the efficient frontier that represents a straight line between the T-Bill risk/return position and the S&P 500 risk/return position. But, the efficient frontier is not on a straight line, but rather on a concave line. If the efficient frontier was graphed correctly, many of the market neutral strategies would be under the efficient frontier.
I am skeptical about the superior risk adjusted return of market neutral strategies because of my own experience. We invested in three such market neutral funds. They had alluring past performance that confirmed everything Nicholas says about such funds. The minute we invested in such funds, their performance mysteriously deteriorated. Somehow, all these funds benefited from convergence before we invested. But, suffered from divergence right after we invested. Within two years, we closed out our investment positions in all three funds, and never regretted it. Thus, I feel that data integrity, and disclosure are real issues in this industry. And, it undermines the credibility of their superior past performance.
My reservation regarding market neutral investing are supported by well publicized failures of some of the biggest funds within this investment style. These include the failure of Long Term Capital Management and the liquidation of the Tiger Funds.
If you want to track how a market neutral fund performs, you can follow one of the oldest AXA Barra market neutral fund (SSMNX). As you will see, the performance is lackluster. And, I believe it is representative of the performance of this sector.
Besides my reservation regarding market neutral investing, this book gives you an excellent foundation on this subject.
Good introduction, not too heavy.......2002-07-12
not for professionals.......2002-03-02
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Market Neutral: Long/Short Strategies for Every Market Environment
Manufacturer: McGraw-Hill Companies ProductGroup: Book Binding: Hardcover ASIN: 0786307331 |
Book Description
Market neutral investing is one of the most important--and controversial-strategies in the capital markets and is being used for long/short equity trades, convertibles, high-yield bonds, currencies and numerous other assets on a global basis. Market Neutral debunks the myths and half-truths that surround this often misunderstood topic with 12 highly-readable and definitive dissertations.
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The Elements of Pair Trading: A Comprehensive Guide for Traders to the Market Neutral Investment Strategy
Manufacturer: Avertine Press ProductGroup: Book Binding: Paperback ASIN: 1593301553 |
Product Description
A thorough and creative analysis to ensure the novice or sophisticated investor/ trader has workable guidelines to protect/ enhance returns
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Equity Management; Market Neutral Strategies; Capital Ideas and Market Realities
Bruce I. & Levy, Kenneth Jacobs Manufacturer: McGraw Hill ; Wiley ; Blackwell ProductGroup: Book Binding: Hardcover ASIN: B000V516F2 |
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Pension and Employee Benefit Statutes, Regulations, Selected Sections, 2006 Edition (University Casebook Series)
Bruce A. Wolk Manufacturer: Foundation Press ProductGroup: Book Binding: Paperback Similar Items:
ASIN: 1587788691 |
Product Description
Statutory casebook supplement to complement Langbein & Wolk's Pension and Employee Benefit Law, 3d or any other pension law casebook. It features selected statutes for a more complete discussion of the subject.
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Fields of Poison 2002: California Farmworkers and Pesticides
Margaret Reeves , Anne Katten , and Martha Guzman Manufacturer: Diane Pub Co ProductGroup: Book Binding: Plastic Comb ASIN: 075672743X |
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Illustrated genera of rust fungi
George B Cummins Manufacturer: Burgess Pub. Co ProductGroup: Book Binding: Unknown Binding ASIN: B0006AVUT4 |
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Earth Science Made Simple
Edward F. Phd Albin Manufacturer: Broadway ProductGroup: Book Binding: Paperback Similar Items:
ASIN: 0767917030 Release Date: 2004-11-09 |
Book Description
A user’s guide to the planet.
We see it every day, yet we understand so little about Earth. From minerals to meteorites, this book covers every aspect of the science of our world. It breaks this complex discipline into four major sections: geology, oceanography, meteorology, and planetary science, and it gives an overview of the processes of each. Complete with interactive experiments and a glossary, this book makes the study of our planet—and other planets— easier than ever.
Topics covered include
*rocks
*plate tectonics
*geologic processes and time
*the sea floor and shoreline
*currents
*waves and tides
*atmospheric conditions and layering
*clouds, winds, and storms
*exploration of the planets
*natural satellites
*asteroids and comets.
Look for these Made Simple titles
Accounting Made Simple
Arithmetic Made Simple
Astronomy Made Simple
Biology Made Simple
Bookkeeping Made Simple
Business Letters Made Simple
Chemistry Made Simple
English Made Simple
French Made Simple
German Made Simple
Ingles Hecho Facil
Investing Made Simple
Italian Made Simple
Latin Made Simple
Learning English Made Simple
Mathematics Made Simple
The Perfect Business Plan Made Simple
Philosophy Made Simple
Physics Made Simple
Psychology Made Simple
Sign Language Made Simple
Spelling Made Simple
Statistics Made Simple
Your Small Business Made Simple
www.broadwaybooks.com
Customer Reviews:
Earth Science Made Simple is Simple.......2007-09-09
Just What I Wanted.......2007-03-09
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Simple Science Fun: Hands-On Science Made Easy
EVAN FORBES , JANET HALE , and CINDY CHRISTIANSON Manufacturer: Teacher Created Resources ProductGroup: Book Binding: Paperback Similar Items:
ASIN: 1557346755 Release Date: 2005-01-27 |
Book Description
Introduce children to science with over 50 amazing, exciting, and intellectually stimulating activities. This book has been awarded the National Parenting Center's Seal of Approval.
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Surface-Enhanced Raman Scattering: Physics and Applications (Topics in Applied Physics)
Manufacturer: Springer ProductGroup: Book Binding: Hardcover Similar Items:
ASIN: 3540335668 |
Book Description
Almost 30 years after the first reports on surface-enhanced Raman signals, the phenomenon of surface-enhanced Raman scattering (SERS) is now well established. Yet, explaining the enhancement of a spectroscopic signal by fouteen orders of magnitude continues to attract the attention of physicists and chemists alike. And, at the same time and rapidly growing, SERS is becoming a very useful spectroscopic tool with exciting applications in many fields. SERS gained particular interest after single-molecule Raman spectroscopy had been demonstrated. This bookl summarizes and discusses present theoretical approaches that explain the phenomenon of SERS and reports on new and exciting experiments and applications of the fascinating spectroscopic effect.
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Raman Scattering in Materials Science (Springer Series in Materials Science)
Manufacturer: Springer ProductGroup: Book Binding: Hardcover ASIN: 3540672230 |
Book Description
Raman scattering is now being applied with increasing success to a wide range of practical problems at the cutting edge of materials science. The purpose of this book is to make Raman spectroscopy understandable to the non-specialist and thus to bring it into the mainstream of routine materials characterization. The book is pedagogical in approach and focuses on technologically important condensed-matter systems in which the specific use of Raman spectroscopy yields new and useful information. Included are chapters on instrumentation, bulk semiconductors and alloys, heterostructures, high-Tc superconductors, catalysts, carbon-based materials, wide-gap and super-hard materials, and polymers.
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Phonon Raman Scattering in Semiconductors, Quantum Wells and Superlattices: Basic Results and Applications (Springer Tracts in Modern Physics)
Tobias Ruf Manufacturer: Springer ProductGroup: Book Binding: Hardcover ASIN: 3540633014 |
Book Description
This book presents recent results of basic research in the field of Raman scattering by optic and acoustic phonons in semiconductors, quantum wells and superlattices. It also describes various new applications for analytical materials research which have emerged alongside with scientific progress. Trends in Raman techniques and instrumentation and their implications for future developments are illustrated.
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Raman Emission by X-ray Scattering
D. L. Ederer Manufacturer: World Scientific Publishing Company ProductGroup: Book Binding: Hardcover ASIN: 9810228252 |
Book Description
The Raman Emission by X-rays (REX-I) Workshop focused on Raman Scattering of x-rays mostly from Synchrotron Radiation Sources. The advent of new high brightness sources of x-ray radiation has given new impetus to this tantalizing technique that has offered ways of obtaining new insights into the atomic and electronic structure of solids and gases, but which has been limited by weak sources of excitation. In the last five years, Raman scattering by x-rays has been observed an ubiquitous phenomena. It has been applied to yield new information about the band structure of solids and about the electronic structure of atoms. It was the object of this workshop to identify and define key issues in this rapidly developing subfield of x-ray physics by gathering together a group of theorists and experimentalists, and by providing overlap between atomic and condensed matter physics. The workshop aimed to achieve this end by providing an environment to discuss the latest developments and to initiate cross fertilization in the difference areas.
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Raman spectroscopy and light scattering technologies in materials science: 31 July-1 August 2001, San Diego, USA (SPIE proceedings series)
Manufacturer: SPIE ProductGroup: Book Binding: Paperback ASIN: 081944183X |
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Raman Scattering in Materials Science
Willes H. Weber Manufacturer: Springer-Verlag New York, LLC ProductGroup: Book Binding: Hardcover ASIN: B000MUQAVG |
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Retold Classic Novel: Huckleberry Finn (Retold Classic Novels)
Mark Twain Manufacturer: Perfection Learning ProductGroup: Book Binding: Library Binding ASIN: 0780712137 |
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