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  • Causal Factor Investing : Can Factor Investing Become Scientific?
    Causal Factor Investing : Can Factor Investing Become Scientific?

    Virtually all journal articles in the factor investing literature make associational claims, in denial of the causal content of factor models.Authors do not identify the causal graph consistent with the observed phenomenon, they justify their chosen model specification in terms of correlations, and they do not propose experiments for falsifying causal mechanisms.Absent a causal theory, their findings are likely false, due to rampant backtest overfitting and incorrect specification choices.This Element differentiates between type-A and type-B spurious claims, and explains how both types prevent factor investing from advancing beyond its current phenomenological stage.It analyzes the current state of causal confusion in the factor investing literature, and proposes solutions with the potential to transform factor investing into a truly scientific discipline.This title is also available as Open Access on Cambridge Core.

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  • Investing in Bonds For Dummies
    Investing in Bonds For Dummies

    Improve the strength of your portfolio with this straightforward guide to bond investing Investing in Bonds For Dummies introduces you to the basics you need to know to get started with bond investing.You’ll find details on understanding bond returns and risks, and recognizing the major factors that influence bond performance.Unlike some investing vehicles, bonds typically pay interest on a regular schedule, so you can use them to provide an income stream while you protect your capital.This easy-to-understand guide will show you how to incorporate bonds into a diversified portfolio and a solid retirement plan.Learn the ins and outs of buying and selling bonds and bond fundsUnderstand the risks and potential rewards in corporate bonds, government bonds, and beyondDiversify your portfolio by using bonds to balance stocks and other investmentsGain the fundamental information you need to make smart bond investment choicesThis Dummies investing guide is great for investors looking for a resource to help them understand, evaluate, and incorporate bonds into their current investment portfolios.

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  • The Wisdom of Finance : How the Humanities Can Illuminate and Improve Finance
    The Wisdom of Finance : How the Humanities Can Illuminate and Improve Finance

    Longlisted for the FT & McKinsey Business Book of the Year Award 2017Finance is shrouded in mystery for outsiders, while many insiders are uneasy with the disrepute of their profession.How can finance become more accessible and also recover its nobility?Harvard Business School professor Mihir Desai takes up the cause of restoring humanity to finance.With deft wit, he draws upon a rich knowledge of literature, film, history, and philosophy to explain finance's inner workings.Through this creative approach, he shows that outsiders can easily access the underlying ideas and insiders can reacquaint themselves with the core values of their profession.This combination of finance and the humanities creates unusual and illuminating pairings: Jane Austen and Anthony Trollope are guides to risk management; Jeff Koons becomes an advocate of leverage; and Mel Brooks' The Producers teaches us about fiduciary responsibility.In Desai's vision, the principles of finance also provide answers to critical questions in our lives: bankruptcy teaches us how to react to failure, the lessons of mergers apply to marriages, and the Capital Asset Pricing Model demonstrates the true value of relationships. The Wisdom of Finance is a wholly unique book, offering an enlivening new perspective on one of the world's most complex and misunderstood professions.

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  • Can It Happen Again? : Essays on Instability and Finance
    Can It Happen Again? : Essays on Instability and Finance

    In the winter of 1933, the American financial and economic system collapsed.Since then economists, policy makers and financial analysts throughout the world have been haunted by the question of whether "It" can happen again.In 2008 "It" very nearly happened again as banks and mortgage lenders in the USA and beyond collapsed.The disaster sent economists, bankers and policy makers back to the ideas of Hyman Minsky – whose celebrated 'Financial Instability Hypothesis' is widely regarded as predicting the crash of 2008 – and led Wall Street and beyond as to dub it as the 'Minsky Moment'.In this book Minsky presents some of his most important economic theories.He defines "It", determines whether or not "It" can happen again, and attempts to understand why, at the time of writing in the early 1980s, "It" had not happened again.He deals with microeconomic theory, the evolution of monetary institutions, and Federal Reserve policy.Minsky argues that any economic theory which separates what economists call the 'real' economy from the financial system is bound to fail.Whilst the processes that cause financial instability are an inescapable part of the capitalist economy, Minsky also argues that financial instability need not lead to a great depression. This Routledge Classics edition includes a new foreword by Jan Toporowski.

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  • Why have the bonds in my portfolio, which are securities, lost the most value, even though they are EU government bonds considered safe investment havens?

    The value of bonds in your portfolio may have decreased due to changes in interest rates. When interest rates rise, the value of existing bonds decreases because they are paying lower interest rates than newly issued bonds. This is known as interest rate risk. Even though EU government bonds are considered safe investments, they are still subject to fluctuations in interest rates, which can impact their value. Additionally, other factors such as economic conditions, inflation expectations, and market sentiment can also affect the value of bonds in your portfolio.

  • How does investing in bonds differ from investing in a bank account?

    Investing in bonds involves purchasing debt securities issued by governments or corporations, which pay a fixed interest rate over a specified period of time. In contrast, investing in a bank account typically involves depositing money into a savings or checking account, where it earns a variable interest rate set by the bank. Bonds generally offer higher potential returns than bank accounts, but they also carry a higher level of risk. Additionally, bonds have a maturity date, while bank accounts provide more immediate access to funds.

  • Why have the bonds in my portfolio, which are securities, lost the most value, even though they are EU government bonds considered as safe investment havens?

    The value of EU government bonds in your portfolio may have decreased due to a variety of factors such as changes in interest rates, inflation expectations, or market sentiment. Even though EU government bonds are generally considered safe investment havens, they are still subject to market fluctuations and can lose value in certain economic conditions. Additionally, global events, economic uncertainty, or changes in government policies can also impact the value of these securities. It's important to monitor the market and economic conditions to understand the reasons behind the decrease in value of your bond holdings.

  • Is it worth investing in Ukraine's war bonds?

    Investing in Ukraine's war bonds can be a way to show support for the country during its conflict with Russia, but it also comes with risks. The situation in Ukraine is volatile and the outcome of the conflict is uncertain, which could affect the value of the bonds. Additionally, there may be concerns about the stability of the Ukrainian economy and the government's ability to repay the bonds. Therefore, investing in Ukraine's war bonds should be carefully considered and individuals should weigh the potential risks and rewards before making a decision.

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  • Beyond the ESG Portfolio: How Wall Street Can Help Democracies Survive
    Beyond the ESG Portfolio: How Wall Street Can Help Democracies Survive

    How to be confident that your ESG investments serve your clients’ needs—and take Democracy into accountIt is easy to unintentionally finance autocrats by using benchmark indices, which often include bonds and stocks of countries slipping down the democracy rankings.Despite best intentions, an investor may be investing in Russia’s invasion of Ukraine or supporting a leader like Hugo Chavez without realizing it.This is the kind of situation Beyond the ESG Portfolio sheds clear light on. In this timely book, Marcos Buscaglia, a Latin America economist, emerging markets expert, and an emerging voice on the relationship between democracy and markets, argues that the current ESG criteria has brought environmental and social standards into investment decisions, but its approach to democracy needs to be refined.You’ll learn everything you need to know about the connection between Wall Street and the economic, social, and foreign policies of Turkey President Recep Tayyip Erdogan, Hungary Prime Minister Viktor Orbán, Russia President Vladimir Putin, China President Xi Jinping, and a host of Latin American autocrats, and how ESG criteria has not been able to stop markets from funding their regimes Investors need to trust that their portfolio managers are using their money for good when they allocate funds to ESG.Beyond the ESG Portfolio shows how to make the most informed and nuanced decisions for every one of your clients.

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  • Inclusive Finance : How Fintech and Innovation Can Transform Financial Inclusion
    Inclusive Finance : How Fintech and Innovation Can Transform Financial Inclusion

    Reduce financial exclusion, improve social impact, meet regulatory compliance and tap into market opportunities with Inclusive Finance. Financial institutions are under growing pressure from their customers, regulators and employees to play more active roles in supporting ESG transformation. Inclusive Finance reviews what is currently socially broken in the existing financial system and identifies opportunities for how incumbent players, fintech start-ups, scale ups and techfins can improve their social impact and meet compliance requirements while delivering financial profit.Inclusive Finance explores how innovations such as blockchain, distributed ledger technology, AI, cryptocurrencies and stablecoins, NFTs and DeFi can all play a role in democratizing finance.Written by a recognized thought leader and serial entrepreneur with a track record of delivering growth through digital innovation at some of the world's most respected financial companies including PayPal and Lloyds, this is an indispensable guide for finance professionals and organizations who need to drive ESG deliverables with purpose and profit.

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  • Moving Beyond Modern Portfolio Theory : Investing That Matters
    Moving Beyond Modern Portfolio Theory : Investing That Matters

    Moving Beyond Modern Portfolio Theory: Investing That Matters tells the story of how Modern Portfolio Theory (MPT) revolutionized the investing world and the real economy, but is now showing its age.MPT has no mechanism to understand its impacts on the environmental, social and financial systems, nor any tools for investors to mitigate the havoc that systemic risks can wreck on their portfolios.It’s time for MPT to evolve. The authors propose a new imperative to improve finance’s ability to fulfil its twin main purposes: providing adequate returns to individuals and directing capital to where it is needed in the economy.They show how some of the largest investors in the world focus not on picking stocks, but on mitigating systemic risks, such as climate change and a lack of gender diversity, so as to improve the risk/return of the market as a whole, despite current theory saying that should be impossible. "Moving beyond MPT" recognizes the complex relations between investing and the systems on which capital markets rely, "Investing that matters" embraces MPT’s focus on diversification and risk adjusted return, but understands them in the context of the real economy and the total return needs of investors.Whether an investor, an MBA student, a Finance Professor or a sustainability professional, Moving Beyond Modern Portfolio Theory: Investing That Matters is thought-provoking and relevant.Its bold critique shows how the real world already is moving beyond investing orthodoxy.

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  • Investing To Save The Planet : How Your Money Can Make a Difference
    Investing To Save The Planet : How Your Money Can Make a Difference

    'This book presents a salient truth: every investor - no matter how large or small - has the power to help address our climate crisis and build a more sustainable world.Together, we can and must act now' Al Gore, former Vice President of the United States 'Everyone's savings account and pension can meaningfully contribute.Ross tells us how in this clear, easy to understand yet transformative book' Christiana Figueres, Founding Partner, Global Optimism and Former Executive Secretary, United Nations Framework Convention on Climate Change 'I can't imagine a more important book at the moment.A detailed, action-oriented guide on how to make our money matter and save us and the planet we live on' Richard Curtis, Writer, Director, Co-Founder of Red Nose Day and UN Sustainable Development Goals Advocate Investing responsibly is one of the most powerful ways that you can fight climate change.No longer a niche sector for rebel fund managers, conscious investing has the potential to raise huge sums of money to the companies and organisations on the front line fighting the climate crisis and make investors positive returns in the process.In this essential introduction to green investing, Alice Ross shows you how you can turn your savings and pensions, however big or small, into a force for change.You will learn: - Which sectors are leading the charge by developing cutting-edge solutions; from smart farming to renewable energy- How to cut through 'alphabet soup' jargon and identify 'greenwashing' - The ways you can maximise your economic power and hold those you're investing in to account 'Changing the way that we invest is one of the most powerful levers we have for solving climate change.This hugely interesting and immensely practical book not only explains why changing how we invest is so critically important but also provides a set of powerful tools for actually doing it' Rebecca Henderson, John and Natty McArthur University Professor at Harvard University and author of Reimagining Capitalism 'Explains the power you have, through your investment choices, to accelerate the path toward a sustainable clean energy future.Read this book and be empowered to create a better future for the planet' Michael Mann, Distinguished Professor, Penn State University, author of The New Climate War

    Price: 14.99 £ | Shipping*: 3.99 £
  • Can you finance a dual study program with savings?

    Yes, it is possible to finance a dual study program with savings. If you have saved up enough money to cover the costs of tuition, living expenses, and other related expenses, you can use your savings to fund your dual study program. However, it is important to carefully consider the amount of savings you have and whether it will be enough to cover all the expenses associated with the program before making a decision. Additionally, you may also want to explore other financing options such as scholarships, student loans, or part-time work to supplement your savings if needed.

  • What tasks does an investment and securities specialist have at the savings bank?

    An investment and securities specialist at a savings bank is responsible for providing financial advice and guidance to clients regarding investment options and securities. They help clients make informed decisions about their investments based on their financial goals and risk tolerance. Additionally, they may assist clients in buying and selling securities, managing their investment portfolios, and staying informed about market trends and developments. Overall, their main tasks involve helping clients grow and manage their wealth through strategic investment decisions.

  • Is it worth investing in a stock portfolio with small amounts of money?

    Yes, it can be worth investing in a stock portfolio with small amounts of money. Even small investments can grow over time through the power of compounding. Additionally, investing in a diversified portfolio of stocks can help spread risk and potentially provide better returns compared to keeping money in a savings account. With the accessibility of low-cost investment platforms and fractional shares, it is easier than ever to start investing with small amounts of money. However, it's important to do thorough research and consider the potential risks before investing.

  • What are the tasks of an investment and securities specialist at the savings bank?

    An investment and securities specialist at a savings bank is responsible for providing investment advice and guidance to clients. They help clients understand their investment options and develop personalized investment strategies based on their financial goals and risk tolerance. Additionally, they may assist clients in purchasing stocks, bonds, mutual funds, and other securities. They also monitor market trends and provide updates to clients on their investments. Overall, their main tasks involve helping clients make informed investment decisions and managing their investment portfolios.

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