A challenge to the conventional wisdom surrounding financial risk, providing insight into why easy solutions to control the financial system are doomed to failFinance plays a key role in the prosperity of the modern world—but it also brings grave dangers. We seek to manage those threats with a vast array of sophisticated mathematical tools and techniques of financial risk management. Too often, though, we fail to address the greatest risk—the peril posed by our own behavior.J...

Financial Risk Forecasting is a complete introduction to practical quantitative risk management, with a focus on market risk. Derived from the authors teaching notes and years spent training practitioners in risk management techniques, it brings together the three key disciplines of finance, statistics and modeling (programming), to provide a thorough grounding in risk management techniques.Written by renowned risk expert Jon Danielsson, the book begins with an introductio...

A challenge to the conventional wisdom surrounding financial risk, providing insight into why easy solutions to control the financial system are doomed to failFinance plays a key role in the prosperity of the modern world—but it also brings grave dangers. We seek to manage those threats with a vast array of sophisticated mathematical tools and techniques of financial risk management. Too often, though, we fail to address the greatest risk—the peril posed by our own...

Why are we in such a financial mess today? There are lots of proximate causes: over-leverage, global imbalances, bad financial technology that lead to widespread underestimation of risk.But these are all symptoms. Until we isolate and tackle fundamental causes, we will fail to extirpate the disease. ECONned is the first book to examine the unquestioned role of economists as policy-makers, and how they helped create an unmitigated economic disaster.Here, Yves Smith lo...

**THE NEW YORK TIMES BESTSELLER"Few people can communicate how the economy actually works better than Kyla Scanlon." -Morgan Housel, author of The Psychology of Money**The stuff you really need to know about how the economy works? It's pretty simple. Yes, even if you were bored to tears in economics class, or if you're cross-eyed from reading painfully convoluted-or straight-up misguided-financial commentary. In this particularly disorienting era, Kyla Sca...

SELECTED AS A 2008 BEST BUSINESS BOOK OF THE YEAR BY THE ECONOMIST"ONE OF THE SMARTEST INVESTORS ON THE PLANET."--MONEY MAGAZINE“This book is an essential read for those whowish to understand the modern world of investing.”—Alan GreenspanWinner of the 2008 Financial Times and Goldman Sachs Business Book of the Year AwardWhen Markets Collide is a timely alert...

How did we get to where we are? John Cassidy shows that the roots of our most recent financial failure lie not with individuals, but with an idea - the idea that markets are inherently rational. He gives us the big picture behind the financial headlines, tracing the rise and fall of free market ideology from Adam Smith to Milton Friedman and Alan Greenspan. Full of wit, sense and, above all, a deeper understanding, How Markets Fail argues for the end of 'utopian' economics, and th...

Financial Times Best Books of 2024: Economics — Martin Wolf"...an invaluable framework to better understanding growth, the financial sector, and the key trends shaping the global economy" — Financial Times, Tej ParikhThe shocks and crises of recent years—pandemic, recession, inflation, war—have forced executives and investors to recognize that the macroeconomy is now a risk to be actively managed. Yet unreliable forecastin...

“Clear and well-written, and can be seen as a helpful primer on a wide range of issues independent of its main theses” – The Society of Professional Economists - Reading Room“An invaluable read for economic history buffs, the book also offers hints on how to invest wisely that will appeal to other readers too.”– Financial Times‘An in-depth but accessible analysis of the complex factors that impact structural changes in financial ma...

The forces behind an economic and political crisis in the makingA “problem of twelve” arises when a small number of institutions acquire the means to exert outsized influence over the politics and economy of a nation.The Big Four index funds of Vanguard, State Street, Fidelity, and BlackRock control more than twenty percent of the votes of S&P 500 companies—a concentration of power that’s unprecedented in America. Then there’s the rise of private equity fun...

“A brilliant and lucid new book” (John Lanchester, New York Times Magazine) about why paper money and digital currencies lie at the heart of many of the world’s most difficult problems—and their solutionsIn The Curse of Cash, acclaimed economist and bestselling author Kenneth Rogoff explores the past, present, and future of currency, showing why, contrary to conventional economic wisdom, the regulation of paper bills—and now digital currencies—lie...

The future is uncertain but for one thing: the global economy is in disarray. Investors, companies and governments must rethink their approach in light of raging inflation, the ongoing climate crisis and an ageing population. In addition, they have to deal with the highest mountain of debt ever accrued in peacetime, disruptive innovations and the effects of multiglobalisation.So much is happening simultaneously, making it difficult to distinguish the big waves from the small hypes....