The definitive guide to fixed income investing--revised and updated for the new era of investing The Handbook of Fixed Income Securities is the investing industry's most trusted, widely followed fixed income reference. For nearly three decades, investors have been drawn to its unparalleled scope, detail, and expertise. Now, the world's most authoritative fixed income resource has been updated with facts and formulas to help you better analyze, value, and manage fixed income instruments and their derivatives in today's evolving marketplace. This thoroughly revised eighth edition includes detailed discussions of: Types, features, and uses of fixed income securities Active and structured portfolio management strategies Basics of fixed income analytics, from bond pricing to price volatility measures Risks and risk control strategies Interest rate and credit derivatives and their portfolio management applications Asset-backed securities, collateralized debt obligations, and innovative fixed income applications The Handbook of Fixed Income Securities is the most all-inclusive, up-to-date source available for fixed income facts and analyses. Its valuable perspective and insights will help you enhance investment returns and avoid poor performance in the fixed income market.

A groundbreaking, authoritative introduction to how machine learning can be applied to asset pricing.
Investors in financial markets are faced with an abundance of potentially value-relevant information from a wide variety of different sources. In such data-rich, high-dimensional environments, techniques from the rapidly advancing field of machine learning (ML) are well-suited for solving prediction problems. Accordingly, ML methods are quickly becoming part of the toolkit in asset pricing research and quantitative investing. In this book, Stefan Nagel examines the promises and challenges of ML applications in asset pricing.
Asset pricing problems are substantially different from the settings for which ML tools were developed originally. To realize the potential of ML methods, they must be adapted for the specific conditions in asset pricing applications. Economic considerations, such as portfolio optimization, absence of near arbitrage, and investor learning can guide the selection and modification of ML tools. Beginning with a brief survey of basic supervised ML methods, Nagel then discusses the application of these techniques in empirical research in asset pricing and shows how they promise to advance the theoretical modeling of financial markets.
Machine Learning in Asset Pricing presents the exciting possibilities of using cutting-edge methods in research on financial asset valuation.

This title is an updated look at best rules of investing provided by two of the world's greatest financial thinkers. In the updated edition of "The Elements of Investing", authors Charles Ellis and Burton Malkiel - two of the world's greatest financial thinkers - have again combined their talents to produce a straight - talking book about investing and saving. Written with every investor in mind, this reliable resource will put you on a path towards a lifetime of financial success. Page by page, Malkiel and Ellis skillfully focus their message to address the essentials and offer a set of simple, but powerful thoughts on how to avoid Mr. Market and his "loser's game," and instead enjoy the "winner's" approach to investing. All the investment rules and principles you need to succeed are here - with clear advice on how to follow them. It shows you how to focus on the long term instead of following market fluctuations that are likely to lead to costly investing mistakes. It contains investment insights that can carry you all the way to, and through, retirement. It is written by Burton G. Malkiel, the bestselling author of "A Random Walk Down Wall Street", and Charles D. Ellis, the bestselling author of "Winning the Loser's Game". A disciplined approach to investing, complemented by understanding, is all you need to enjoy success. This practical guide explains what you really need to know and puts you on the right course for long-term success through all kinds of markets.

"One of the ten best investing books of all time."--The Washington Post~One of investing＇s most celebrated icons updates his classic work to reflect today＇s world and markets~In this long-awaited and

Investors have too often extrapolated from recent experience. In the 1950s, who but the most rampant optimist would have dreamt that over the next fifty years the real return on equities would be 9 per cent per year? Yet this is what happened in the U.S. stock market. The optimists triumphed. However, as Don Marquis observed, an optimist is someone who never had much experience. The authors of this book extend our experience across regions and across time. They present a comprehensive and consistent analysis of investment returns for equities, bonds, bills, currencies and inflation, spanning sixteen countries, from the end of the nineteenth century to the beginning of the twenty-first. This is achieved in a clear and simple way, with over 130 color diagrams that make comparison easy. Crucially, the authors analyze total returns, including reinvested income. They show that some historical indexes overstate long-term performance because they are contaminated by survivorship bias and that long-term stock returns are in most countries seriously overestimated, due to a focus on periods that with hindsight are known to have been successful. The book also provides the first comprehensive evidence on the long-term equity risk premium - the reward for bearing the risk of common stocks. The authors reveal whether the United States and United Kingdom have had unusually high stock market returns compared to other countries. The book covers the U.S., the U.K., Japan, France, Germany, Canada, Italy, Spain, Switzerland, Australia, the Netherlands, Sweden, Belgium, Ireland, Denmark, and South Africa. Triumph of the Optimists is required reading for investment professionals, financial economists, and investors. It will be the definitive reference in the field and consulted for years to come.

For the first time the complete financial history of Berkshire Hathaway is available under one cover in chronological format. Beginning at the origins of the predecessor companies in the textile industry, the reader can examine the development of the modern-day conglomerate year-by-year and decade-by-decade, watching as the struggling textile company morphs into what it has become today.
This comprehensive analysis distils over 10,000 pages of research material, including Buffett’s Chairman’s letters, Berkshire Hathaway annual reports and SEC filings, annual meeting transcripts, subsidiary financials, and more. The analysis of each year is supplemented with Buffett’s own commentary where relevant, and examines all important acquisitions, investments, and other capital allocation decisions. The appendices contain balance sheets, income statements, statements of cash flows, and key ratios dating back to the 1930s, materials brought together for the first time.
The structure of the book allows the new student to follow the logic, reasoning, and capital allocation decisions made by Warren Buffett and Charlie Munger from the very beginning. Existing Berkshire shareholders and long-time observers will find new information and refreshing analysis, and a convenient reference guide to the decades of financial moves that built the modern-day respected enterprise that is Berkshire Hathaway.

Die Informationen in diesem Buch helfen Ihnen, subtilste und
schwierigste Situationen im Geschäftsleben Amerikas zu verstehen
und zu meistern. Verhandlungsführung, das Arbeiten in und mit
amerikanischen Organisationen, gesellschaftliche Umgangsformen,
Telefonetikette - dies sind nur wenige einer Vielzahl von
Themengebieten, die in diesem überaus praktischen Buch behandelt
werden. Regionale und branchenspezifische Unterschiede werden
präzise dargestellt, ihre zumeist verborgenen Zusammenhänge
sichtbar gemacht.
Max Otte, der namhafte deutsche Unternehmen in den USA vertritt,
stellt hier seine umfangreichen Erfahrungen zur Verfügung. Die
praktischen Hinweise zu vielen Themen sind ein Gewinn für jeden,
der sich geschäftlich in den USA aufhält. Humorvoll und
theoretisch fundiert beschreibt er die Eigenheiten des American
way of life und vor allem, welche Bedeutung sie für das
Geschäftsleben haben.
Auch wenn Sie schon häufiger geschäftlich in den USA zu tun
hatten: Dieses Buch wird Ihnen neue Erkenntnisse vermitteln. Eine
äußerst sachkundige Beschreibung verborgener Zusammenhänge und
ungeschriebener Regeln, die jeder kennen sollte, der
Geschäftsaktivitäten in Amerika unterhält oder plant.

For the first time, business journalist Janet Lowe provides a lively and lucid introduction to financial genius Benjamin Graham's investment theories, presented in terms of both his life and his work.

“They laid out a road map for investing that I have now been following for 57 years. There’s been no reason to look for another.”
—Warren Buffett, on the writings of Benjamin Graham Legendary investing author and philosopher Benjamin Graham lived through interesting times. Soon after his graduation from Columbia College, the nation entered the First World War. As the stock market fluctuated in wild dips and peaks, the government seized control of the railroad industry, inflation and interest rates rose dramatically, and economic depression loomed on the horizon. During these events—and perhaps inspired by them—Graham began writing articles for The Magazine of Wall Street , putting to paper his earliest ideas on value investing and security analysis. For the first time, these important works have been anthologized into a single volume. Benjamin Graham on Investing is a treasure trove of rare and out-of-print articles that document the early flashes of genius from a man whose ideas and theories would revolutionize investment philosophy and inspire the careers of such luminaries as Warren Buffett, Seth Klarman, Charlie Munger, and countless other top-tier investors. The early works of Benjamin Graham have never been as relevant as they are today. The world’s markets are undergoing changeon a scale not unlike that of Graham’s era. David Darst, one of the world’s most respected experts on asset allocation, provides insightful analyses connecting Graham’s articles to events today. ,i>Benjamin Graham on Investing is a timeless classic that continues to have relevance more than 30 years after the author’s death.
点击链接进入中文版：
格雷厄姆谈投资(来自价值投资之父的不朽教诲)

从亨利八世到伊丽莎白一世，英国与法国、西班牙、爱尔兰之间的争战，导致国库严重亏空，要靠王室商人去欧陆张罗、协商、谈判贷款。本书的主题，是16世纪都铎王朝外债的筹措与偿付，主角是众所皆知的人物：以“劣币驱逐良币”（格雷欣法则，Gresham's Law）闻名的Sir Thomas Gresham（1519—1579）。全书分5篇（13章）与5个附录，主轴是格雷欣如何筹借外债，如何谈判借款的数额、利率、期限，如何操作英镑的汇率。