The Most Important Thing Illuminated Download Ebook PDF Epub Online

Author : Howard Marks
Publisher : Columbia University Press
Release : 2013-01-08
Page : 248
Category : Business & Economics
ISBN 13 : 0231162847
Description :


Distilling the wisdom of Marks' celebrated client memos into a single volume and, for the first time, making his time-tested investing philosophy available to general readers, this book has been widely acclaimed by professional, casual, aspiring, and armchair investors.


Author : Howard Marks
Publisher : Columbia University Press
Release : 2011-05-01
Page : 192
Category : Business & Economics
ISBN 13 : 0231527098
Description :


"This is that rarity, a useful book."--Warren Buffett Howard Marks, the chairman and cofounder of Oaktree Capital Management, is renowned for his insightful assessments of market opportunity and risk. After four decades spent ascending to the top of the investment management profession, he is today sought out by the world's leading value investors, and his client memos brim with insightful commentary and a time-tested, fundamental philosophy. Now for the first time, all readers can benefit from Marks's wisdom, concentrated into a single volume that speaks to both the amateur and seasoned investor. Informed by a lifetime of experience and study, The Most Important Thing explains the keys to successful investment and the pitfalls that can destroy capital or ruin a career. Utilizing passages from his memos to illustrate his ideas, Marks teaches by example, detailing the development of an investment philosophy that fully acknowledges the complexities of investing and the perils of the financial world. Brilliantly applying insight to today's volatile markets, Marks offers a volume that is part memoir, part creed, with a number of broad takeaways. Marks expounds on such concepts as "second-level thinking," the price/value relationship, patient opportunism, and defensive investing. Frankly and honestly assessing his own decisions--and occasional missteps--he provides valuable lessons for critical thinking, risk assessment, and investment strategy. Encouraging investors to be "contrarian," Marks wisely judges market cycles and achieves returns through aggressive yet measured action. Which element is the most essential? Successful investing requires thoughtful attention to many separate aspects, and each of Marks's subjects proves to be the most important thing.


Author : Howard Marks
Publisher : Harper Collins
Release : 2018-08-25
Page : 194
Category : Business & Economics
ISBN 13 : 9353022800
Description :


Legendary investor Howard Marks is chairman and co-founder of Oaktree Capital Management, which has $100 billion under management. He is sought out by the world's leading value investors, and his client memos brim with insightful commentary and a time-tested, fundamental philosophy. Now for the first time, readers can benefit from Marks's wisdom, concentrated into a single volume that speaks to both the amateur and seasoned investor. Informed by a lifetime of experience and study, The Most Important Thing explains the keys to successful investment and the pitfalls that can destroy capital or ruin a career. Utilizing passages from his memos to illustrate his ideas, Marks teaches by example, detailing the development of an investment philosophy that fully acknowledges the complexities of investing and the perils of the financial world. Brilliantly applying insight to today's volatile markets, Marks offers a volume that is part memoir, part creed, with a number of broad takeaways.


Author : Jonathan A. Knee
Bruce C. Greenwald
Publisher : Penguin
Release : 2009-10-15
Page : 320
Category : Business & Economics
ISBN 13 : 1101140747
Description :


If Rupert Murdoch and Sumner Redstone are so smart, why are their stocks long-term losers? We live in the age of big Media, with the celebrity moguls telling us that "content is king." But for all the excitement, glamour, drama, and publicity they produce, why can't these moguls and their companies manage to deliver better returns than you'd get from closing your eyes and throwing a dart? The Curse of the Mogul lays bare the inexcusable financial performance beneath big Media's false veneer of power. By rigorously examining individual media businesses, the authors reveal the difference between judging a company by how many times its CEO is seen in SunValley and by whether it generates consistently superior profits. The book is packed with enough sharp-edged data to bring the most high-flying, hot-air filled mogul balloon crashing down to earth.


Author : Mark Jeffery
Publisher : John Wiley & Sons
Release : 2010-02-08
Page : 320
Category : Business & Economics
ISBN 13 : 0470504544
Description :


NAMED BEST MARKETING BOOK OF 2011 BY THE AMERICAN MARKETING ASSOCIATION How organizations can deliver significant performance gains through strategic investment in marketing In the new era of tight marketing budgets, no organization can continue to spend on marketing without knowing what's working and what's wasted. Data-driven marketing improves efficiency and effectiveness of marketing expenditures across the spectrum of marketing activities from branding and awareness, trail and loyalty, to new product launch and Internet marketing. Based on new research from the Kellogg School of Management, this book is a clear and convincing guide to using a more rigorous, data-driven strategic approach to deliver significant performance gains from your marketing. Explains how to use data-driven marketing to deliver return on marketing investment (ROMI) in any organization In-depth discussion of the fifteen key metrics every marketer should know Based on original research from America's leading marketing business school, complemented by experience teaching ROMI to executives at Microsoft, DuPont, Nisan, Philips, Sony and many other firms Uses data from a rigorous survey on strategic marketing performance management of 252 Fortune 1000 firms, capturing $53 billion of annual marketing spending In-depth examples of how to apply the principles in small and large organizations Free downloadable ROMI templates for all examples given in the book With every department under the microscope looking for results, those who properly use data to optimize their marketing are going to come out on top every time.


Author : Howard Marks
Publisher : Houghton Mifflin Harcourt
Release : 2018-10-02
Page : 352
Category : Business & Economics
ISBN 13 : 1328480569
Description :


A NEW YORK TIMES, WALL STREET JOURNAL, AND USA TODAY BESTSELLER The legendary investor shows how to identify and master the cycles that govern the markets. We all know markets rise and fall, but when should you pull out, and when should you stay in? The answer is never black or white, but is best reached through a keen understanding of the reasons behind the rhythm of cycles. Confidence about where we are in a cycle comes when you learn the patterns of ups and downs that influence not just economics, markets, and companies, but also human psychology and the investing behaviors that result. If you study past cycles, understand their origins and remain alert for the next one, you will become keenly attuned to the investment environment as it changes. You’ll be aware and prepared while others get blindsided by unexpected events or fall victim to emotions like fear and greed. By following Marks’s insights—drawn in part from his iconic memos over the years to Oaktree’s clients—you can master these recurring patterns to have the opportunity to improve your results.


Author : Jonathan Safran Foer
Publisher : Houghton Mifflin Harcourt
Release : 2013-09-03
Page : 288
Category : Fiction
ISBN 13 : 9780547523781
Description :


“Imagine a novel as verbally cunning as A Clockwork Orange, as harrowing as The Painted Bird, as exuberant and twee as Candide, and you have Everything Is Illuminated . . . Read it, and you'll feel altered, chastened — seared in the fire of something new.” — Washington Post With only a yellowing photograph in hand, a young man — also named Jonathan Safran Foer — sets out to find the woman who might or might not have saved his grandfather from the Nazis. Accompanied by an old man haunted by memories of the war, an amorous dog named Sammy Davis, Junior, Junior, and the unforgettable Alex, a young Ukrainian translator who speaks in a sublimely butchered English, Jonathan is led on a quixotic journey over a devastated landscape and into an unexpected past. As their adventure unfolds, Jonathan imagines the history of his grandfather’s village, conjuring a magical fable of startling symmetries that unite generations across time. As his search moves back in time, the fantastical history moves forward, until reality collides with fiction in a heart-stopping scene of extraordinary power. “A rambunctious tour de force of inventive and intelligent storytelling . . . Foer can place his reader’s hand on the heart of human experience, the transcendent beauty of human connections. Read, you can feel the life beating.” — Philadelphia Inquirer


Author : James Montier
Publisher : John Wiley & Sons
Release : 2010-02-09
Page : 414
Category : Business & Economics
ISBN 13 : 0470685182
Description :


"As with his weekly column, James Montier's Value Investing is a must read for all students of the financial markets. In short order, Montier shreds the 'efficient market hypothesis', elucidates the pertinence of behavioral finance, and explains the crucial difference between investment process and investment outcomes. Montier makes his arguments with clear insight and spirited good humor, and then backs them up with cold hard facts. Buy this book for yourself, and for anyone you know who cares about their capital!" —Seth Klarman, President, The Baupost Group LLC The seductive elegance of classical finance theory is powerful, yet value investing requires that we reject both the precepts of modern portfolio theory (MPT) and pretty much all of its tools and techniques. In this important new book, the highly respected and controversial value investor and behavioural analyst, James Montier explains how value investing is the only tried and tested method of delivering sustainable long-term returns. James shows you why everything you learnt at business school is wrong; how to think properly about valuation and risk; how to avoid the dangers of growth investing; how to be a contrarian; how to short stocks; how to avoid value traps; how to hedge ignorance using cheap insurance. Crucially he also gives real time examples of the principles outlined in the context of the 2008/09 financial crisis. In this book James shares his tried and tested techniques and provides the latest and most cutting edge tools you will need to deploy the value approach successfully. It provides you with the tools to start thinking in a different fashion about the way in which you invest, introducing the ways of over-riding the emotional distractions that will bedevil the pursuit of a value approach and ultimately think and act differently from the herd.


Author : CAIA Association
Hossein Kazemi
Publisher : John Wiley & Sons
Release : 2016-09-27
Page : 1104
Category : Business & Economics
ISBN 13 : 111901638X
Description :


In-depth Level II exam preparation direct from the CAIA Association CAIA Level II is the official study guide for the Chartered Alternative Investment Analyst professional examination, and an authoritative guide to working in the alternative investment sphere. Written by the makers of the exam, this book provides in-depth guidance through the entire exam agenda; the Level II strategies are the same as Level I, but this time you'll review them through the lens of risk management and portfolio optimisation. Topics include asset allocation and portfolio oversight, style analysis, risk management, alternative asset securitisation, secondary market creation, performance and style attribution and indexing and benchmarking, with clear organisation and a logical progression that allows you to customise your preparation focus. This new third edition has been updated to align with the latest exam, and to reflect the current practices in the field. The CAIA designation was developed to provide a standardized knowledge base in the midst of explosive capital inflow into alternative investments. This book provides a single-source repository of that essential information, tailored to those preparing for the Level II exam. Measure, monitor and manage funds from a risk management perspective Delve into advanced portfolio structures and optimisation strategies Master the nuances of private equity, real assets, commodities and hedge funds Gain expert insight into preparing thoroughly for the CAIA Level II exam The CAIA Charter programme is rigorous and comprehensive, and the designation is globally recognised as the highest standard in alternative investment education. Candidates seeking thorough preparation and detailed explanations of all aspects of alternative investment need look no further than CAIA Level II.


Author : Paschalis A. Arvanitidis
Publisher : Routledge
Release : 2014-08-13
Page : 252
Category : Business & Economics
ISBN 13 : 1317637186
Description :


This book examines the relationship between the property market and urban economy. The stimulus for this work was provided by the seemingly ever-accelerating process of urban economic change and the noticeable failure of existing studies to adequately explore the pivotal role that the property market plays in this process. Drawing on institutional economics, the central argument of the book is that the property market as an institution is a mediator through which urban economic potential can be realised and served. In developing this argument, the book provides a critical realist ontological framework that advances understanding of the institutional structure of the economy and the complex interrelation between the institutional environment and human agency, as well as a holistic theoretical framework of urban economic change, where appropriate emphasis is placed on the specific mechanisms, processes and dynamics through which the built environment is provided. Arvanitidis also explores an institutional conceptualisation of property market efficiency, defined in terms of the ability of the market institution to adapt its structure and to provide outcomes that the economy requires. To inform empirical research on the developed concepts, the book also offers a generic analytical approach specifying appropriate research methods and techniques for investigation along with a specific research design providing an operational framework that translates developed theory into empirical practice. The book’s primary contribution therefore lies in its delineation of a holistic research programme to conceptualise the property market as an institution and to explore its role within the urban economy.


Author : John Nyaradi
Publisher : John Wiley & Sons
Release : 2010-09-02
Page : 288
Category : Business & Economics
ISBN 13 : 9780470880326
Description :


Smart financial strategies that can secure your financial future There are more than 600 exchange traded funds on the market today, and new ones are opening every day. Total worldwide invested assets in ETFs now tops $500 billion. Written in a straightforward and accessible style, Super Sectors outlines a specialized trading system that utilizes standard and leveraged exchange traded funds in an easy-to-follow plan, so that you can identify and invest in the hottest sectors in the world. In this book, author John Nyaradi skillfully shows you how to use ETFs to take advantage of businesses and sectors that are profiting, while also minimizing risk by getting out of the same areas before they start to decline. Along the way, Nyaradi reveals how to best analyze different sectors, such as technology, utilities, industrial, energy, services, and finance, and then discusses which ETFs can help you profit from the opportunities these sectors present. The book: • Outlines an active investment management strategy that will allow you to generate steady success in any market • Details how different types of businesses profit and suffer during different business cycles • Explores how sectors rotation strategies and exchange traded funds can put you in a better position to excel financially • Includes interviews with key experts The “buy-and-hold” strategy of yesterday won’t work in today’s investment environment. Nyaradi identifies the strongest potential sectors in the future. Find out what will work with Super Sectors as your guide.


Author : Edgar E. Peters
Publisher : John Wiley & Sons
Release : 1994-01-26
Page : 336
Category : Business & Economics
ISBN 13 : 9780471585244
Description :


A leading pioneer in the field offers practical applications of this innovative science. Peters describes complex concepts in an easy-to-follow manner for the non-mathematician. He uses fractals, rescaled range analysis and nonlinear dynamical models to explain behavior and understand price movements. These are specific tools employed by chaos scientists to map and measure physical and now, economic phenomena.


Author : Betty Simkins
Russell Simkins
Publisher : John Wiley & Sons
Release : 2013-02-19
Page : 624
Category : Business & Economics
ISBN 13 : 1118017129
Description :


Thought leaders and experts offer the most current information and insights into energy finance Energy Finance and Economics offers the most up-to-date information and compelling insights into the finance and economics of energy. With contributions from today's thought leaders who are experts in various areas of energy finance and economics, the book provides an overview of the energy industry and addresses issues concerning energy finance and economics. The book focuses on a range of topics including corporate finance relevant to the oil and gas industry as well as addressing issues of unconventional, renewable, and alternative energy. A timely compendium of information and insights centering on topics related to energy finance Written by Betty and Russell Simkins, two experts on the topic of the economics of energy Covers special issues related to energy finance such as hybrid cars, energy hedging, and other timely topics In one handy resource, the editors have collected the best-thinking on energy finance.


Author : Kate DiCamillo
Publisher : Candlewick Press
Release : 2013-09-24
Page : 240
Category : Juvenile Fiction
ISBN 13 : 0763667242
Description :


Winner of the 2014 Newbery Medal Holy unanticipated occurrences! A cynic meets an unlikely superhero in a genre-breaking new novel by master storyteller Kate DiCamillo. It begins, as the best superhero stories do, with a tragic accident that has unexpected consequences. The squirrel never saw the vacuum cleaner coming, but self-described cynic Flora Belle Buckman, who has read every issue of the comic book Terrible Things Can Happen to You!, is just the right person to step in and save him. What neither can predict is that Ulysses (the squirrel) has been born anew, with powers of strength, flight, and misspelled poetry — and that Flora will be changed too, as she discovers the possibility of hope and the promise of a capacious heart. From #1 New York Times best-selling author Kate DiCamillo comes a laugh-out-loud story filled with eccentric, endearing characters and featuring an exciting new format — a novel interspersed with comic-style graphic sequences and full-page illustrations, all rendered in black-and-white by up-and-coming artist K. G. Campbell.


Author : Archie Brown
Publisher : Basic Books
Release : 2014-04-08
Page : 480
Category : Political Science
ISBN 13 : 0465080979
Description :


From one of the world's preeminent political historians, a magisterial study of political leadership around the world from the advent of parliamentary democracy to the age of Obama. All too frequently, leadership is reduced to a simple dichotomy: the strong versus the weak. Yet, there are myriad ways to exercise effective political leadership--as well as different ways to fail. We blame our leaders for economic downfalls and praise them for vital social reforms, but rarely do we question what makes some leaders successful while others falter. In this magisterial and wide-ranging survey of political leadership over the past hundred years, renowned Oxford politics professor Archie Brown challenges the widespread belief that strong leaders--meaning those who dominate their colleagues and the policy-making process--are the most successful and admirable. In reality, only a minority of political leaders will truly make a lasting difference. Though we tend to dismiss more collegial styles of leadership as weak, it is often the most cooperative leaders who have the greatest impact. Drawing on extensive research and decades of political analysis and experience, Brown illuminates the achievements, failures and foibles of a broad array of twentieth century politicians. Whether speaking of redefining leaders like Franklin Delano Roosevelt, Lyndon Johnson, and Margaret Thatcher, who expanded the limits of what was politically possible during their time in power, or the even rarer transformational leaders who played a decisive role in bringing about systemic change--Charles de Gaulle, Mikhail Gorbachev and Nelson Mandela, among them--Brown challenges our commonly held beliefs about political efficacy and strength. Overturning many of our assumptions about the twentieth century's most important figures, Brown's conclusions are both original and enlightening. The Myth of the Strong Leader compels us to reassess the leaders who have shaped our world - and to reconsider how we should choose and evaluate those who will lead us into the future.


Author : Ronald Chan
Publisher : John Wiley & Sons
Release : 2012-08-06
Page : 250
Category : Business & Economics
ISBN 13 : 1118339320
Description :


Investing legend Warren Buffett once said that “success ininvesting doesn’t correlate with I.Q. once you’re abovethe level of 125. Once you have ordinary intelligence, what youneed is the temperament to control the urges that get other peopleinto trouble in investing.” In an attempt to understand exactly what kind of temperamentBuffett was talking about, Ronald W. Chan interviewed 12value-investing legends from around the world, learning how theirpersonal background, culture, and life experiences have shapedtheir investment mindset and strategy. The Value Investors:Lessons from the World’s Top Fund Managers is theresult. From 106-year-old Irving Kahn, who worked closely with“father of value investing” Benjamin Graham and remainsactive today, and 95-year-old Walter Schloss (described by WarrenBuffett as the “super-investor fromGraham-and-Dodsville”), to the co-founders of Hong Kong-basedValue Partners, Cheah Cheng Hye and V-Nee Yeh, and FranciscoGarcía Paramés of Spain’s Bestinver AssetManagement, Chan chose investment luminaries to help him understandthe international appeal – and success – of valueinvesting. All of these men became strong advocates of the approachdespite considerable age and cultural differences. Chan finds outwhy. In The Value Investors, readers will also discover howthese investors, each of whom has a unique value perspective, haveconsistently beaten the stock market over the years. Do they sharea trait that allows this to happen? Is there a winning temperamentthat turns the ordinary investor into an extraordinary one? Thisbook answers these questions and more.


Author : William Thorndike
Publisher : Harvard Business Press
Release : 2012
Page : 251
Category : Business & Economics
ISBN 13 : 1422162672
Description :


It's time to redefine the CEO success story. Meet eight iconoclastic leaders who helmed firms where returns on average outperformed the S&P 500 by more than 20 times.


Author : Jostein Gaarder
Publisher : Farrar, Straus and Giroux
Release : 2007-03-20
Page : 544
Category : Fiction
ISBN 13 : 1466804270
Description :


One day Sophie comes home from school to find two questions in her mail: "Who are you?" and "Where does the world come from?" Before she knows it she is enrolled in a correspondence course with a mysterious philosopher. Thus begins Jostein Gaarder's unique novel, which is not only a mystery, but also a complete and entertaining history of philosophy.


Author : George Schultze
Publisher : John Wiley & Sons
Release : 2012-09-13
Page : 224
Category : Business & Economics
ISBN 13 : 1118234731
Description :


A detailed and compelling look at distressed securitiesinvesting in today’s market In the corporate world, “vulture” investors indistressed securities serve the same cleanup function as vulturesdo in the natural world: they deal with failing companies, digestbad debt, and mop up after bankruptcies. Since this market’sstructural and legal complexities create greater inefficienciesthan in other investment fields, it’s a style of investingthat can make money during both booms and busts. While recenteconomic carnage has made opportunities for vulture investors, moreconvoluted bankruptcies, conflicts of interest, and even governmentintervention have made this arena harder to negotiate. Nobody understands this better than author George Schultze,founder of Schultze Asset Management. During his successful careeras a vulture investor, he’s learned a number of lessons anddeveloped an investment philosophy that has served him well. Now,in The Art of Vulture Investing, Schultze shares his valuableinsights and experiences with you. Engaging and informative, thisreliable guide offers a bird’s-eye into the opportunities andrisks associated with vulture investing. And while it may notalways be pretty, you’ll see exactly why this process isnecessary for our economic ecosystem. Throughout this book, Schultze explains the theory and strategyof vulture investing in clear and lively prose, illustrating eachconcept with examples from his own varied experience that show howthe landscape has changed in recent years. Offers valuable information on distressed securities investingsince the 2007-2009 financial crisis Examines the opportunities and dilemmas for modern vultureinvestors Includes in-depth case studies of high-profile bankruptcies,including those of Chrysler Automotive and Tropicana Casinos andResorts By its very nature, investing in distressed companies can be acomplicated and risky business. But once the dust settles,these investments can yield extraordinary profits. The Art ofVulture Investing puts this discipline in perspective and showsyou how to excel at this difficult, yet rewarding, endeavor.


Author : Tren Griffin
Publisher : Columbia University Press
Release : 2015-09-15
Page : 224
Category : Business & Economics
ISBN 13 : 0231540418
Description :


Charlie Munger, Berkshire Hathaway's visionary vice chairman and Warren Buffett's indispensable financial partner, has outperformed market indexes again and again, and he believes any investor can do the same. His notion of "elementary, worldly wisdom"—a set of interdisciplinary mental models involving economics, business, psychology, ethics, and management—allows him to keep his emotions out of his investments and avoid the common pitfalls of bad judgment. Munger's system has steered his investments for forty years and has guided generations of successful investors. This book presents the essential steps of Munger's investing strategy, condensed here for the first time from interviews, speeches, writings, and shareholder letters, and paired with commentary from fund managers, value investors, and business-case historians. Derived from Ben Graham's value-investing system, Munger's approach is straightforward enough that ordinary investors can apply it to their portfolios. This book is not simply about investing. It is about cultivating mental models for your whole life, but especially for your investments.