Mastering Illiquidity
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Mastering Illiquidity
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Author : Thomas Meyer
language : en
Publisher: John Wiley & Sons
Release Date : 2013-04-18
Mastering Illiquidity written by Thomas Meyer and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-04-18 with Business & Economics categories.
Arms investors with powerful new tools for measuring and managing the risks associated with the various illiquid asset classes With risk-free interest rates and risk premiums at record lows, many investors are turning to illiquid assets, such as real estate, private equity, infrastructure and timber, in search of superior returns and greater portfolio diversity. But as many analysts, investors and wealth managers are discovering, such investments bring with them a unique set of risks that cannot be measured by standard asset allocation models. Written by a dream team of globally renowned experts in the field, this book provides a clear, accessible overview of illiquid fund investments, focusing on what the main risks of these asset classes are and how to measure those risks in today's regulatory environment. Provides solutions for institutional investors in need of guidance in today's regulatory environment Offers detailed descriptions of risk measurement in illiquid asset classes, illustrated with real life case studies Helps you to develop reliable risk management tools while complying with the regulations designed to contain the individual and systemic risks arising from illiquid investments Features real-life case studies that capture an array of risk management scenarios you are likely to encounter
The Art Of Commitment Pacing
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Author : Thomas Meyer
language : en
Publisher: John Wiley & Sons
Release Date : 2024-07-15
The Art Of Commitment Pacing written by Thomas Meyer and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-07-15 with Business & Economics categories.
Advanced guidance for institutional investors, academics, and researchers on how to manage a portfolio of private capital funds The Art of Commitment Pacing: Engineering Allocations to Private Capital provides a much-needed analysis of the issues that face investors as they incorporate closed ended-funds targeting illiquid private assets (such as private equity, private debt, infrastructure, real estate) into their portfolios. These private capital funds, once considered "alternative" and viewed as experimental, are becoming an increasingly standard component of institutional asset allocations. However, many investors still follow management approaches that remain anchored in the portfolio theory for liquid assets but that often lead to disappointing results when applied to portfolios of private capital funds where practically investors remain committed over nearly a decade. When planning for such commitments, investment managers and researchers are faced with practical questions such as: How to measure and control the real exposure to private assets? How to forecast cash-flows for commitments to private capital funds? What ranges for their returns and lifetime are realistic, and how can the investor’s skill be factored in? Over which dimensions should a portfolio be diversified and how much diversification is enough? How can the impact of co-investments or secondaries be modelled? How to design pacing plans that lead to resilient and efficient portfolios? What stress scenarios should be considered and how can they be applied? These are just examples of the many questions for which answers are provided. The Art of Commitment Pacing describes established and new methodologies for building up and controlling allocations to such investments. This book offers a systematic approach for building up and controlling allocations to such investments. The Art of Commitment Pacing is a valuable addition to the libraries of investment managers, as well as portfolio and risk managers involved in institutional investment. The book will also be of interest to advanced students of finance, researchers, and other practitioners who require a detailed understanding of forecasting and portfolio management methodologies.
Private Equity Unchained
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Author : T. Meyer
language : en
Publisher: Springer
Release Date : 2014-09-10
Private Equity Unchained written by T. Meyer and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-10 with Business & Economics categories.
There are significant returns to be made from private equity, infrastructure, real estate and other illiquid investments, but a competitive strategy is essential for investment success and for meeting objectives. This book takes readers through all the considerations of planning and implementing an investment strategy in illiquid investments.
The Golden Guide Of Trading
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Author : Max Cooper
language : en
Publisher: Independently Published
Release Date : 2023-04-06
The Golden Guide Of Trading written by Max Cooper and has been published by Independently Published this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-04-06 with categories.
Introducing Max Cooper's highly anticipated trading book, a culmination of 10 years of experience in the trading world. This book is set to be the most comprehensive guide to trading ever written, covering every aspect of the trading process from start to finish. With a wealth of knowledge and expertise accumulated over a decade of trading, Max Cooper has distilled his experience into this one-of-a-kind book. Whether you're a novice trader just starting out, or a seasoned veteran looking to refine your strategy, this book has something for everyone. The end is also dedicated on how to invest in stocks and cryptocurrencies. Every topic is explored in great depth, with real-world examples and practical tips that readers can immediately apply to their own trading strategies. This book has been designed to be extremely comprehensive for readers of all ages.
Cash Liquidity Management
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Author : Olaf Ransome
language : en
Publisher: CreateSpace
Release Date : 2014-02-13
Cash Liquidity Management written by Olaf Ransome and has been published by CreateSpace this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-13 with Business & Economics categories.
Descriptive text: This book will help those who work in the Operations area of Financial Services firms and have to deal with the daily business of cash & liquidity management. It will also help those concerned with change in those areas too. In 2014, there is a huge amount of change, much of it mandatory, must-do. This book explains those changes and offers some insights on how to address them. This is a practitioner's guide; the view from the Bankers' Plumber and one that has had the benefit of input from a broad church of people who do this for a living.
What Is Liquidity The Complete Guide To Valuing Crypto Projects And Assets
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Author : Emmanuel Enaturu Osiebe
language : en
Publisher: Independently Published
Release Date : 2024-04-29
What Is Liquidity The Complete Guide To Valuing Crypto Projects And Assets written by Emmanuel Enaturu Osiebe and has been published by Independently Published this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-04-29 with Business & Economics categories.
In the ever-changing world of cryptocurrency, the word "liquidity" echoes through the hallways of digital exchanges, the coding of smart contracts, and the plans of investors around the world. It is the foundation upon which the enormous and complex structure of crypto finance is built. "What is liquidity? The Complete Guide to Valuing Crypto Projects and Assets" is a book meant to help readers comprehend and navigate the constantly shifting ecosystem of digital currency. At this point, it's my pleasure to warmly welcome you to the fully packed two-series book "What's Liquidity? The Complete Guide to Valuing Crypto Projects and Assets"!! Believe me, there are priceless gems in each part, whether basic and advanced. These timely posts are intended to serve as a compass as you sail the difficult waters of cryptocurrency liquidity. This introduction section will lay the groundwork for a thorough understanding of liquidity and its important place in digital currency valuation. This book, "Understanding the Foundations," is the first step toward mastering the concept of liquidity. It is prepared with the intention of illuminating the subject for people who are just getting started in the cryptocurrency space, as well as expanding the understanding of seasoned traders and professionals looking to improve their skills. The journey begins with an overview of the importance of liquidity in cryptocurrencies. It is here that we lay the groundwork for the subsequent topics, offering readers of all levels with a carefully planned roadmap and a clear outline of the journey ahead in this book. Here is what we shall explore: Part I covers the fundamentals of liquidity, outlining the key ideas and terminologies. It delves deeply into the concept of liquidity, how it differs from illiquidity, and its critical role in the financial markets as a whole. Part II provides a broader picture of the crypto liquidity landscape. We follow the history and evolution of cryptocurrency markets, from Bitcoin's inception to the altcoin boom and the rise of decentralized finance (DeFi). This section also highlights significant liquidity events that have shaped the current state of the market. Part III provides essential knowledge and practical strategies to help readers navigate the complex world of cryptocurrency liquidity. By understanding the regulatory environment and learning from past successes and failures, readers will be well-equipped to make informed decisions in the crypto space. Prepare yourself for the next level of understanding in Book Two as we delve deeper into advanced concepts. The glossary included will ensure that you are fluent in the language of crypto liquidity, setting you up for success in this dynamic industry. This book is not just a guide, but a valuable companion for those looking to grasp the significance of liquidity in the crypto market. I am confident that "Understanding the Foundations" will be a go-to resource for anyone interested in the future of digital assets.
Market Liquidity
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Author : Yakov Amihud
language : en
Publisher: Cambridge University Press
Release Date : 2012-11-12
Market Liquidity written by Yakov Amihud and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-12 with Business & Economics categories.
This book presents the theory and evidence on the effect of market liquidity and liquidity risk on asset prices and on overall securities market performance. Illiquidity means incurring a high transaction cost, which includes a large price impact when trading and facing a long time to unload a large position. Liquidity risk is higher if a security becomes more illiquid when it needs to be traded in the future, which will raise trading cost. The book shows that higher illiquidity and greater liquidity risk reduce securities prices and raise the expected return that investors require as compensation. Aggregate market liquidity is linked to funding liquidity, which affects the provision of liquidity services. When these become constrained, there is a liquidity crisis which leads to downward price and liquidity spiral. Overall, the volume demonstrates the important role of liquidity in asset pricing.
Mastering Stocks And Bonds
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Author : Ben Emons
language : en
Publisher: Springer
Release Date : 2015-10-05
Mastering Stocks And Bonds written by Ben Emons and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-05 with History categories.
Despite popular belief, bond and stock investors are not opposites. Stock investors can apply bond strategies to safeguard returns. And bond investors can do better using a stock selection strategy designed to improve the portfolio's income distribution. This book will teach you to look at stocks through the lens of a bond buyer, and vice versa.
Mastering Risk
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Author : James Pickford
language : en
Publisher: Financial Times/Prentice Hall
Release Date : 2001
Mastering Risk written by James Pickford and has been published by Financial Times/Prentice Hall this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
A major challenge for today's financial industry is the development of fully integrated risk systems. This volume looks at the actual application of various models to predict levels of risk.
Strategic Trading In Illiquid Markets
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Author : Burkart Mönch
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-01-13
Strategic Trading In Illiquid Markets written by Burkart Mönch and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-01-13 with Business & Economics categories.
The Area of Research and the Object of Investigation In this thesis we will investigate trading strategies in illiquid markets from a market microstructure perspective. Market microstructure is the academic term for the branch of financial economics that investigates trading and the organization of security markets, see, e. g. , Harris (2002). Historically, exchanges evolved as a location, where those interested in buy ing or selling securities could meet physically to transact. Thus, traditionally security trading was organized on exchange floors, where so-called dealers arranged all trades and provided liquidity by quoting prices at which they were willing buy or sell. Consequently, the initial surge of the market mi crostructure literature focused predominantly on this type of market design, which is often referred to as quote-driven. Nowadays, the interest is shifting towards order-driven markets. Beginning with the Toronto Stock Exchange in the mid 1970s and increasing in fre quency and scope, this market structure has emerged as the preeminent form of security trading worldwide. In order-driven markets, exchanges arrange trades by matching public orders, often by employing automatic execution systems. Introduction A major difference between a quote-driven and an order-driven market arises from the transparency pre- and post-trade. The pre-trade transparency con cerns the question whether the order book is visible to the keeper only, or whether it is open to the public.
