Inside the House of Money: Top Hedge Fund Traders on Profiting in the Global Markets
Average customer rating: 4.5 out of 5 stars
  • Insightful visit to the world of the global macro investor.
  • Find out what the experts think about investing in the global marketplace
  • A Rare Opportunity that Leaves One Wanting More
  • Excellent book
  • Decent overview of global macro traders
Inside the House of Money: Top Hedge Fund Traders on Profiting in the Global Markets
Steven Drobny
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

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ASIN: 0471794473

Book Description

Inside the House of Money lifts the veil on the typically opaque world of hedge funds, offering a rare glimpse at how today's highest paid money managers approach their craft. Author Steven Drobny demystifies how these star traders make billions for well-heeled investors, revealing their theories, strategies and approaches to markets. Drobny, cofounder of Drobny Global Advisors, an international macroeconomic research and advisory firm, has tapped into his network and beyond in order assemble this collection of thirteen interviews with the industry's best minds. Along the way, you'll get an inside look at firsthand trading experiences through some of the major world financial crises of the last few decades. Whether Russian bonds, Pakistani stocks, Southeast Asian currencies or stakes in African brewing companies, no market or instrument is out of bounds for these elite global macro hedge fund managers. Highly accessible and filled with in-depth expert opinion, Inside the House of Money is a must-read for financial professionals and anyone else interested in understanding the complexities at stake in world financial markets.

"The ruminations of supposedly hush-hush hedge fund operators are richly illuminating." --New York Times

Customer Reviews:

4 out of 5 stars Insightful visit to the world of the global macro investor........2007-09-28

This fascinating book will take you into the world of current global macro investing. Steven Drobny interviews 13 successful traders, analysts and fund managers who participate in global macro investing in many different ways. Although some of the discussions are technical (but never mathematical), they are readable and easy to understand. Drobny also provides some information on the origins and early years of global macroeconomic investing, from John Keynes to George Soros. He talks to his interviewees about their backgrounds and asks their investment advice. His question-and-answer approach keeps things moving. We enjoyed Drobny's descriptions of the people he interviewed, though the interview-style format leads to somewhat choppy data. This book is surprisingly fun for what could have become a very dense, technical tome in less skilled hands.

5 out of 5 stars Find out what the experts think about investing in the global marketplace .......2007-09-17

This is a terrific book about how 13 investors use global macroeconomics in their work. The shorthand term is global macro. Since the field is pretty much undefined and can include investments of any time anywhere in the world, it is hard to define what exactly it is. In fact, the book isn't about Steven Drobny telling you about what he thinks it is. Instead, the chapters are question and answers with each of these practitioners of this technique.

The first few chapters offer some context and history of global macro investing. The earliest people doing it were probably John Maynard Keynes and Alfred Winlow Jones. Drobny takes us through the key macroeconomic crises of the past several decades and offers a few thoughts about the future.

The people he interviews are Jim Leitner of Falcon Management, Siva-Jothy of SemperMacro, the author's partner, but no relation - Andres Droby, Dr. John Proter of Barclays Capital, Dr. Sushil Wadhwani of Wadhwani Asset Management, Peter Thiel of Clarium Capital, Yra Harris of Praxis Trading, Jim Rogers, Dwight Anderson of Ospraie Management, Scott Bessent Capital, Mark Dimitrijevic of Everest Capital, Rob Standing of London Diversified Fund Management, and an anonymous currency specialist.

All of these folks look for people who are motivated, and have a passion and talent for math, economics, history, and have a demonstrated aptitude for training. You will notice that many have doctorates, but not all. Some learned the trade by trading, all were captivated by the process soon after they first came in contact with it.

I found the range of investments and their thoughts about the global economy fascinating. This is a very interesting book, especially so if you are interested in markets and trading. Their generally gloomy view of the future of the American economy is quite disturbing, though.

Reviewed by Craig Matteson, Ann Arbor, MI.

5 out of 5 stars A Rare Opportunity that Leaves One Wanting More.......2007-08-21

I love to have extended conversations with experts. I feed off their enthusiasm and expertise. These conversations are even more exciting to me, when the person with whom I am speaking is an expert in a field I love.

With only one lowly exception, Steven Drobny has written a winner for me. By interviewing as assembling the edited transcripts of his conversations in his book, Inside the House of Money, Drobny opened a gateway into the thinking and experiences of 13 successful Global Macro investors.

Although many have the reputations as being secretive and reluctant to discuss their market approaches, the author gives the reader a glimpse of the thinking that goes into placing a multi-million trade on currencies, economies and securities.

Drobny is uniquely qualified to do these interviews. As a partner in an international macroeconomic research and advisory firm, he brings a seasoned professional's insight to the interviews. Key historical events that shaped the experiences of these traders are explored. Nuances of the current crowded markets are discussed intelligently. As a result, the reader gains precious insights into the subtleties of running a Global Macro Hedge Fund.

There is only one problem with the book. I found myself wanting more from the interviewees. Drobny gave me access to people with whom I would never have the opportunity to speak. What I read was great, but I wanted more. But then again, I trade like that.

5 out of 5 stars Excellent book.......2007-08-20

I found very interesting and rich of insights.
It's very useful in understanding hedge fund manager's approach to the markets.

5 out of 5 stars Decent overview of global macro traders.......2007-08-15

The book kept my interest and was very informative. Some of the interviews were excellent. I say some, because those that trade closer to my style are obviously more interesting for me. but theres plenty here for everyone.

I liked the interviews of so many different styles because it just proves my personal theory that anyone can make money. Every trader in the book trades differently and they still all make money.

I also like the comments from many of these traders that said that we were heading for a sub-prime meltdown and that the banks would be having problems. This was written more than a year ago, and thats exactly whats happening today. Dow is now down 8.6% off the high it made last month. The volatility is crazy. And these guys predicted it long ago. Lots of good insight from their interviews.
Global Investing: The Professional's Guide to the World Capital Markets
Average customer rating: Not rated
    Global Investing: The Professional's Guide to the World Capital Markets
    Roger Ibbotson , and Gary P. Brinson
    Manufacturer: McGraw-Hill
    ProductGroup: Book
    Binding: Hardcover

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    Trading in the Global Currency Markets Second Edition
    Average customer rating: 3.5 out of 5 stars
    • Notionistic
    • Those who rate above 3 probably did not read through
    • Tradeoff in practicality for information
    • Background, but not greatly practical
    • Well informed author but poorly written book
    Trading in the Global Currency Markets Second Edition
    Cornelius Luca
    Manufacturer: Prentice Hall Press
    ProductGroup: Book
    Binding: Hardcover

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    ASIN: 0735201463
    Release Date: 2000-07-04

    Book Description

    An in depth look at the tremendous potential of this vital market with expert advice from one of the foremost authorities. The foreign exchange market is the world's largest and fastest growing financial terrain. Despite its high trading volume, it is also a market little understood and little regulated. This definitive resource brings the universe of foreign exchange within reach of every investor. The revised edition includes complete comprehensive coverage of the euro and the latest historical and economic changes in the market.

    Cornelius Luca, a renowned authority on international investing, draws on the insights of leading experts in diverse fields of specialty to explain every crucial aspect of foreign exchange. He provides investors with an arsenal of trading weapons, many on the cutting edge of technology. Demystifying the intricacies of these markets, the book includes:

    Analysis of the mechanics of the market, the major players and markets, the pertinent risks, corporate trading, and methods of trading execution.

    A thorough overview of foreign exchange instruments and major option strategies, with clear explanations of why currencies are traded and how to forecast currency behavior. An in-depth look at the three types of analysis: fundamental, technical, and econometric. Featuring 200 charts and graphics, TRADING IN THE GLOBAL CURRENCY MARKETS is an indispensable guide to a daunting yet promising financial playing field.

    Customer Reviews:

    2 out of 5 stars Notionistic.......2006-08-26

    The book contains a lot of undigested info on trading in currency markets, failing to explain much of the things it illustrates.

    2 out of 5 stars Those who rate above 3 probably did not read through.......2005-09-05

    The structure is good, topics are comprehensive, style is concise.

    The problems,

    The book seems did not proof read carefully. There are many typos, very confusing.

    Especially in the second part, which is about technical analysis, it does not explain details when they are needed. And it lacks proper explanations for figures. Some figures do not match patterns he described.

    This guy, Luca, seems to be famous. He is maybe good at trading himself and he is able to write a good book, but he just did not put himself into it.

    3 out of 5 stars Tradeoff in practicality for information.......2005-04-23

    This book turned out to be quite different from what I was expecting. By the cover, I thought it would be about finding a brokerage account, and then getting set up to trade away. To my surprise it was more of an educational textbook than a "do it yourself" guide for individual investors.

    However, this book contains a lot of interesting information about foreign exchange and how it works. It discusses the history of foreign exchange, factors that influence it, terminologies used by traders, and the different means that currency is traded. The primary focus is the multimillion-dollar trades put forth by large firms. It serves as a good reference and a good supplement to other readings about finance/economics in general. Since it covers a wide range of topics and somewhat glosses over them quickly, I suggest reinforcing with other more specific books on economics.

    The good points are that it contains much useful information for educating yourself in the foreign exchange area. The downside is that it is not a practical guide for people interested in getting their dollars converted to Euros by this evening.

    3 out of 5 stars Background, but not greatly practical.......2005-02-16

    Luca has written what is essentially a text book for the foreign exchange market. That is good in that he provides a survey of the market, its history, how it works, etc. If you want to learn about the market, this book contains the information you desire. It reads like a textbook, though. If you want something to help you actually trade the market, look elsewhere.

    3 out of 5 stars Well informed author but poorly written book.......2005-01-11

    The author clearly has had experience in the foreign exchange market, but the writing style is so poor that very little useful information is presented. The book reads like an economics text book from the 60's. If you are hoping for a book that will give you specific pointers on spot trading the forex market, this will disappoint. However, if you want to get a broad history and background on foreign exchange, this book is will be helpful.
    The REPO Handbook (Securities Institute Global Capital Markets)
    Average customer rating: 4 out of 5 stars
    • Very comprehensive coverage of Repo and money markets
    • Identity Crisis
    • Great book - don't believe the negative hype
    • The ultimate guide to repo
    • Surplus funds awaiting collection
    The REPO Handbook (Securities Institute Global Capital Markets)
    Moorad Choudhry
    Manufacturer: Butterworth-Heinemann
    ProductGroup: Book
    Binding: Hardcover

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    5. An Introduction to Repo Markets (Securities Institute) An Introduction to Repo Markets (Securities Institute)

    ASIN: 0750651628

    Book Description

    The book features an introduction to the structure and mechanics of repo, institutional practices and real-world examples. In addition the content includes necessary supplementary material such as bank asset and liability management, trading techniques, and a range of other applications of value in the global money markets.

    Repo markets play a pivotal role in the world's economy. The Repo Handbook is the definitive, comprehensive guide to this most important element of the global debt capital markets. It describes the use, motivations and mechanics of the repo instrument, and features invaluable coverage of specific country markets and institutions. The reader is taken through classic repo, sell/buy backs and structured repo, as well as additional products such as the total return swap and securities lending. As important is the treatment of related areas, such as money markets, banking asset & liability management and the implied repo rate, vital to a full understanding of repo.

    This book is the ultimate guide for bankers, repo traders and salespersons, money market participants, corporate treasurers, debt finance professionals and is organized into three parts:

    Part I covers the repo instrument, and examines repo mechanics and use of repo. There is also a look at selected country repo markets around the world.

    Part II of the book considers the institutional treatment of repo, with chapters on risk, netting, accounting, and legal issues. There is also a chapter on equity repo.

    Part III looks at basis trading and the implied repo rate. This includes results of original research on the gilt bond basis, presented in accessible style.

    * A complete guide to repo, including introductions to money markets and bonds
    * Contains the author's personal anecdotes from trading
    * Covers every aspect of repo for all participants including legal, tax, accounting and back office

    Customer Reviews:

    5 out of 5 stars Very comprehensive coverage of Repo and money markets.......2004-03-12

    This is a very good book on repo, money markets, and bank ALM. It is written in very accessible style and has very clear examples, descriptions, worked examples, and screen pictures. The author has also demonstrated how repo fits in with the other money markets. Highly recommended, a good guide to repo and stock lending.

    1 out of 5 stars Identity Crisis.......2004-01-23

    It is interesting that most, if not all, of the 5-star reviews below appear to be written by the author's? aliases. For instance, the Oct. 7, Oct, 20, both Oct 22 reviews, and the Nov. 4 review all currently originate from X Moore from "John Rasheed", although in the past they've all shown London or Cape Town origin as "John Rasheed" sought to cover his tracks.

    "Mr. Gagan Singh" writes several negative reviews of other books, but positive reviews of Mr. Choudhry's books. "Mr. Gagan Singh" wrote negative reviews of Ms. Stigum's "The Money Market" and alternately hails from NY, the USA, Capetown or from wherever next this chameleon chooses to hail as the reviews change.

    "Matthew Bartlett" is another alias used on two book reviews of Fabozzi's "Collateralized Debt Obligations" book. One of the "Matthew Bartlett" reviews is signed "Moorad Choudhry" and praises the book with 5-stars, but the other review is unsigned and gives the book a one-star review. This is a serious identity crisis.

    5 out of 5 stars Great book - don't believe the negative hype.......2004-01-07

    If you want to buy the best guide to repo and money markets, buy this book - forget what any US-based reviewers are saying casting ridiculous accusations about the author. The book is great - end of story. Buy it!

    5 out of 5 stars The ultimate guide to repo.......2003-11-04

    comprehensive and well worth buying. covers all you need to know on repo and well illustrated with worked examples.

    5 out of 5 stars Surplus funds awaiting collection.......2003-10-23

    My name is Adebayo Alotunde, I am second cousin of President of Nigeria. Please can everyone send me 10 copies of this book and I will send payment by return.
    Money And Capital Markets: Financial Institutions And Instruments In A Global Marketplace (Mcgraw-Hill/Irwin Series in Finance, Insurance, and Real Estate)
    Average customer rating: 4 out of 5 stars
    • Wonderful service
    • Ok review and introduction
    Money And Capital Markets: Financial Institutions And Instruments In A Global Marketplace (Mcgraw-Hill/Irwin Series in Finance, Insurance, and Real Estate)
    Peter S. Rose , and Milton H. Marquis
    Manufacturer: Irwin/McGraw-Hill
    ProductGroup: Book
    Binding: Hardcover

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    Book Description

    Money and Capital Markets 8/e by Peter Rose provides a thorough and comprehensive view of the whole financial system. All the major types of financial institutions and financial instruments present today are discussed, along with how and why the system of money and capital markets is changing. Money and Capital Markets also provides a descriptive explanation of how interest rates and security values are determined. It discusses the current and future trends of the globalization of financial markets, the ongoing consolidation of the financial institutions’ sector, and recent efforts to protect consumer privacy in the financial services field.

    Customer Reviews:

    5 out of 5 stars Wonderful service.......2005-07-17

    I was very happy with the quality of the product and the fast service. The only thing I was disappointed in was the description did not specify the edition # of the book and what I received was one edition back from what I needed. More information in the description would be very helpful.

    3 out of 5 stars Ok review and introduction.......2002-04-28

    The book has a lot of detailed historical information about the financial systems. Unfortunatly the author pay too much attention to history and not enough on practical fundementals. There are several errors and steps deleted in the book. Plus not enough examples are provided in comparrison to the problems assigned. Even my professor stated that the 7th edition had plenty of problems that won't be resolved until the 12-13th edition.
    Money and Capital Markets: Financial Institutions and Instruments in a Global Marketplace (International Edition)
    Average customer rating: Not rated
      Money and Capital Markets: Financial Institutions and Instruments in a Global Marketplace (International Edition)
      Peter S. Rose and Milton H. Marquis
      ProductGroup: Book
      Binding: Paperback
      ASIN: B000M0C11E
      The Global Money Markets
      Average customer rating: 3 out of 5 stars
      • Good overall book on money markets
      • Stigum (or Success) versus Choudhry
      The Global Money Markets
      Frank J. Fabozzi , Steven V. Mann , and Moorad Choudhry
      Manufacturer: Wiley
      ProductGroup: Book
      Binding: Hardcover

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      Book Description

      An informative look at the world of short-term investing and borrowing

      The Global Money Markets is the authoritative source on short-term investing and borrowing-from instruments in the U.S. and U.K., to asset-liability management. It also clearly demonstrates the various conventions used for money market calculations and discusses other short-term structured financial products such as asset-backed securities and mortgage-backed securities.

      Steven V. Mann (Columbia, SC) is Professor of Finance at the Moore School of Business, University of South Carolina. He has coauthored two previous books and numerous articles in the area of investments and works as a consultant to investment/commercial banks throughout the United States. Moorad Choudhry (Surrey, UK) is a Vice President of structured finance services with JPMorganChase in London. Prior to that he worked as a gilt-edged market maker and Treasury trader at ABN Amro Hoare Govett Sterling Bonds Limited, and as a sterling proprietary trader at Hambros Bank Limited. Moorad is a Senior Fellow at the Centre for Mathematical Trading and Finance, City University Business School.

      John Wiley & Sons, Inc. is proud to be the publisher of the esteemed Frank J. Fabozzi Series. Comprising nearly 100 titles-which include numerous bestsellers—The Frank J. Fabozzi Series is a key resource for finance professionals and academics, strategists and students, and investors. The series is overseen by its eponymous editor, whose expert instruction and presentation of new ideas have been at the forefront of financial publishing for over twenty years. His successful career has provided him with the knowledge, insight, and advice that has led to this comprehensive series.

      Frank J. Fabozzi, PhD, CFA, CPA, is Editor of the Journal of Portfolio Management, which is read by thousands of institutional investors, as well as editor or author of over 100 books on finance for the professional and academic markets. Currently, Dr. Fabozzi is an adjunct Professor of Finance at Yale University's School of Management and on the board of directors of the Guardian Life family of funds and the Black Rock complex of funds.

      Customer Reviews:

      5 out of 5 stars Good overall book on money markets.......2003-10-22

      This is a timely book that covers in great detail virtually all apsects of the markets. Well written and well worth getting.

      1 out of 5 stars Stigum (or Success) versus Choudhry.......2003-10-19

      A one-star Amazon review of the late Marcia Stigum's book: "The Money Market" denigrates her work, but recommends this book. Coincidentally it seems to have appeared just after a reviewer recommended her book over "The Repo Handbook" authored by Choudhry, one of the authors of this book.

      It hardly seems sporting to denigrate the excellent work of Ms. Stigum when she is no longer able to set the record straight. Her classic work on the U.S. markets that allows one to deduce the dynamics - and equips one to solve the mathematics - of the global money markets deserves high honors.

      The unsportsmanlike behavior doesn't end there, since it seems that books with titles that compete with Mr. Choudrhy's upcoming releases have multiple one-star reviews from obvious pseudonyms and free internet accounts. The books that get the most attention from this stalker are the most commercially successful in the competing areas. Perhaps it is a fan gone mad, or perhaps there is a more obvious explanation.

      I would have given this book three stars, but I deducted for bad sportsmanship.
      The Money Changers: A Guided Tour Through Global Currency Markets
      Average customer rating: 4.5 out of 5 stars
      • Highly recommended. General readers; all levels of undergraduates. --- IngoWalter, March 2007, Choice
      • A fine introduction to currency markets for students and the interested general reader
      • The Money Changers - Accessible and interesting for the lay reader
      • Great overview of the currency markets
      • truly "a guided tour through global currency markets"
      The Money Changers: A Guided Tour Through Global Currency Markets
      Robert G Williams
      Manufacturer: Zed Books
      ProductGroup: Book
      Binding: Paperback

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      1. Stigum's Money Market, 4E Stigum's Money Market, 4E
      2. Foreign Exchange: A Practical Guide to the FX Markets (Wiley Finance) Foreign Exchange: A Practical Guide to the FX Markets (Wiley Finance)
      3. Annual Reports 101 Annual Reports 101
      4. Adventures of a Currency Trader: A Fable about Trading, Courage, and Doing the Right Thing (Wiley Trading) Adventures of a Currency Trader: A Fable about Trading, Courage, and Doing the Right Thing (Wiley Trading)
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      ASIN: 1842776959

      Book Description

      Currency markets, worth almost $2 trillion per day in trade, link the world together. Yet few people know how they work and why they are prone to instability and bouts of panic. This book, neither a technical manual nor a get-rich-quick tract, takes the reader on a guided tour of the places, the machines, the circuitry and the people involved in moving the world’s money. From the simple to the complex, currency traders, market analysts, money managers and payments systems architects show their workplaces and reveal their day-to-day experiences. The book will give the reader a graphic picture of the geographical and structural organization of global currency markets and the people who operate them. The tour through the volatile and rapidly evolving world of the money changers provides a basic orientation for deciphering complex causes of yet unforeseen financial events.

      Customer Reviews:

      5 out of 5 stars Highly recommended. General readers; all levels of undergraduates. --- IngoWalter, March 2007, Choice .......2007-05-12

      The full review in March 2007, CHOICE, written by Ingo Walter, an eminent scholar in the field of international finance, was helpful to me. Here are some excerpts:
      "This is a nontechnical exploration into the mechanics of the foreign exchange market, which Williams (Guilford College) nicely motivates by starting with an ordinary retail transaction--an ATM withdrawal of local currency in a foreign country--and tracing it through the wholesale foreign exchange markets to show what actually happens. In doing so, the author provides an intuitive way to explore the most important and arguably the most efficient market in the world, which makes international trade, investment, and financial transfers possible......The discussion is up-to-date, and the use of dialogue makes the book very accessible to the intelligent but uninformed reader. Summing Up: Highly recommended. General readers; all levels of undergraduates." --- Ingo Walter, Seymour Milstein Professor of Finance, Corporate Governance and Ethics at the Stern School of Business, New York University.

      5 out of 5 stars A fine introduction to currency markets for students and the interested general reader.......2007-03-12

      Robert G. Williams has written an entertaining and informative book about how the world currency markets work. He starts with a story about a summer trip he and some students took to Europe and the impact the fluctuations in the local currency against the dollar impacted their budget for the trip and how he was able to manage that best through smarter currency exchange.

      The rest of the book has him taking us through the different aspects of currency trade, the size of the market, who the players are, the role of computers and software versus people exchanging currency on the trading floor, the various philosophies of how these markets work, and how currency exchange affects you and me even without our knowing it.

      I don't know if all the conversations he discusses in the book are devices to keep what could have been a dry subject more entertaining or if he is doing some very good reporting. In the larger sense, it doesn't matter because we read the book for the information the author shares with us. That he also makes it quite readable is quite an achievement. There are a helpful number of charts, tables, and graphs. They do not get in the way and are all pretty easy to understand.

      This is a very good introduction to these important and quite huge markets (bigger than you would likely guess) for the student and the interested general reader. Since the news often talks about the movements of currency and how this or that is over or undervalued, you might want to bolster your own understanding of what is really going on rather than the vague arm waving of the journalists.

      This interesting book is a great place to start.

      5 out of 5 stars The Money Changers - Accessible and interesting for the lay reader.......2007-03-10

      Reading The Money Changers: A Guided Tour Through Global Currency Markets by Robert Williams was both exceptionally educational and entertaining. I am an art professor and not knowledgeable about economics. However, I have traveled a lot overseas and have always been confused about rates of foreign exchange and why they move up and down in a way that seems so unpredictable. This book explained a great deal about why but also explored how this market works and how it has changed with the introduction of the Euro. For someone who is not an expert The Money Changers is challenging to read because the complexities of the economics are there; but the writing is exceptionally clear and the stories about the people who work in these markets are so engaging that the book kept my interest to the end.

      4 out of 5 stars Great overview of the currency markets.......2007-01-14

      Definitely not a technical treatise like the books written by Boris Schlossberg or Kathy Lien, but does a wonderful job of giving those interested in the fx markets a toe-hold on how the world's biggest capital market operates. I personally enjoyed the interview section with fx traders and currency strategists at JPMorgan tremendously. However, reading the detailed explanation on how the CHIPs settlement system works was slightly tedious.

      4 out of 5 stars truly "a guided tour through global currency markets".......2006-10-09

      This book, as the preface states, "is not a technical manual for
      business professionals or a tract on how to get rich betting on
      currencies. Rather, it is a guided tour of the places, the machines,
      the circuitry, and the people involved in moving world money".
      Given this is what the book is about, it does a wonderful job.
      The author is obviously very well read and intelligent and
      probably ought to be teaching with Lawrence Summers and Robert J.
      Barrow in Cambridge, MA. However, I must confess that I cannot
      agree with the author in the final pages of the book where he
      tries to make the case for financial austerity given Britain's
      currency crisis from 1958-1968. He calls this section of the
      book "Long-run lessons for the dollar's loss of hegemony", and
      caused me to remember the Jimmy Carter rhetoric that American's
      need to do with less. On pages 233-234 the author states the
      United States needs to cut back on borrowing from foreign sources
      and states "It would mean a change in relative living standards
      for people in the United States, but it would not be the end of
      the world". It is a sad ending for what was a great book up until
      that point. And from my point of view is not correct as long as
      the Japanese continue at their current savings rate and as long as
      the Japanese continue to devalue the yen vis-a-vis the dollar.
      Technical Analysis Applications in the Global Currency Markets
      Average customer rating: 4 out of 5 stars
      • Technical Analysis Applications In The Global Currency Markets Second Edition
      • To be critical is to be constructive.
      • Not any help at all...
      • Very Very good book
      • excellent value!!
      Technical Analysis Applications in the Global Currency Markets
      Cornelius Luca
      Manufacturer: Prentice Hall Pr
      ProductGroup: Book
      Binding: Hardcover

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      5. The Currency Trader's Handbook The Currency Trader's Handbook

      ASIN: 0134940555

      Book Description

      Now updated and revised with all new charts and key information on the euro. The introduction of the euro and the recent explosion of electronic trading has changed the outlook of the foreign exchange market dramatically. Global currency trading offers staggering rewards for those with the knowledge to capitalize on it.

      This updated guide provides an easy-to-follow roadmap for beginners and experienced traders alike on how to use technical analysis-with revised charts and graphs-to cash in on these enormous opportunities. The only guide of its kind to focus solely on all aspects of technical analysis, Luca explains and illustrates: The fundamentals of technical analysis and how it applies to foreign exchange What one must learn about trends and trend patterns How the major players in foreign exchange analyze their charts The quantitative methods of analysis-including all types of moving averages, oscillators, and other indicators This book provides a thorough, yet easy-to-grasp explanation and analysis of point and figure charting, candlestick charting, the Gann methods, and the Elliot Wave principle. Also included is an updated CD-ROM that lets readers test the methods presented and apply them to real trading-and quickly increase proficiency in charting and chart analysis.

      Customer Reviews:

      4 out of 5 stars Technical Analysis Applications In The Global Currency Markets Second Edition.......2005-07-16

      Having always been intrigued by the FX market but also having never traded a day in my life I bought this book and his other with the intent of learning the basics. I wanted to get an overall view of wha the FX was and how I could trade in it. I believe it has done what I wanted and helped me to greatly understand the MANY different aspects of trading. I would say that it covers the basic aspects while only slightly delving deeper into some of the more complex issues. I believe one of the greatest things about this book is that it has helped me to figure out which directions I need to pursue as well as which I don't. I have read some other comments on this book and am rather appalled that people actually take the time to make negative and unsubstantiated claims about the author, his knowledge and experience. If you are disattisfied with the book, state your reasons why and perhaps make a constructive recommendation. Otherwise, all you're doing is wasting my time. This book is probably not for someone who is experienced and has a fair command of their trading. For someone who is looking for a clear, concise discourse on the basics this is definitely the book for you.

      3 out of 5 stars To be critical is to be constructive........2005-02-05

      If this book is very bad, I am glad to learn it from people who consider themselves knowledgeable and who have read it. But should it be possible for such critics to propose another reference which they appreciated the content. It would be much more instructive for readers who are shopping for quality books.

      1 out of 5 stars Not any help at all..........2004-02-02

      As a Foreign Currency Dealer, I was NOT helped from this book at all! Actually the title is misleading since he does NOT concentrate on FX, he only shows some graph examples using FX crosses instead of stocks... The author just refers to a lot of TA indicators only reviewing their typical Buy and Sell signals that are written in every TA book, and furthermore the sections are very bad structured. Really very very disappointed!!!

      5 out of 5 stars Very Very good book.......2003-08-08

      This is a very good book. If you want to start trading currency online (like me) you must read this book first.

      5 out of 5 stars excellent value!!.......2003-03-21

      I haven't completed the book but if I never read another page it's well worth what I payed compared to some prices of other simular books on the market. I don't know what the initial cost was, but those who wrote the unfavorable reviews should have waited to purchase. Maybe they would have been more positive.
      Foreign Exchange and Money Markets: Theory, Practice and Risk Management (Securities Institute Global Capital Markets)
      Average customer rating: Not rated
        Foreign Exchange and Money Markets: Theory, Practice and Risk Management (Securities Institute Global Capital Markets)
        Bob Steiner
        Manufacturer: Butterworth-Heinemann
        ProductGroup: Book
        Binding: Hardcover

        GeneralGeneral | Popular Economics | Business & Investing | Subjects | Books
        InternationalInternational | Economics | Business & Investing | Subjects | Books
        Money & Monetary PolicyMoney & Monetary Policy | Economics | Business & Investing | Subjects | Books
        Foreign ExchangeForeign Exchange | Finance | Business & Investing | Subjects | Books
        GeneralGeneral | Business & Investing | Subjects | Books
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        ASIN: 0750650257

        Book Description

        Floating rates, central-bank intervention, derivatives trading and the very high volumes of speculative and round-the-clock trading are just a few of the facets of the foreign exchange marketplace that make it a highly dynamic and volatile arena. This book addresses the practical applications of foreign currency trading and money market trading and provides comprehensive coverage of these markets.

        Coverage includes:

        * What the instruments are
        * How and why they are used - by both bank dealers and corporate end-users
        * How the different instruments are linked one to another
        * How you price them
        * Structure of the market, EMU etc
        * The range of risks arising from dealings in these instruments that affect banks and corporates
        * How these risks are measured and managed

        * Brings together a range of practical, relevant material on Foreign Exchange and money market trading.
        * Focuses on trading situations as well as on calculations
        * International in coverage, the concepts and methods covered are not restricted to any country or institution

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        10. Martingale Methods in Financial Modelling (Stochastic Modelling and Applied Probability)

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