Fooled By Randomness

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Author: Nassim Nicholas Taleb
Publisher: Random House
ISBN: 9781588367679
Size: 61.34 MB
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Fooled By Randomness by Nassim Nicholas Taleb

Original Title: Fooled By Randomness

Fooled by Randomness is a standalone book in Nassim Nicholas Taleb’s landmark Incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decision-making in a world we don’t understand. The other books in the series are The Black Swan, Antifragile, and The Bed of Procrustes. “[Taleb is] Wall Street’s principal dissident. . . . [Fooled By Randomness] is to conventional Wall Street wisdom approximately what Martin Luther’s ninety-nine theses were to the Catholic Church.” –Malcolm Gladwell, The New Yorker Finally in paperback, the word-of-mouth sensation that will change the way you think about the markets and the world.This book is about luck: more precisely how we perceive luck in our personal and professional experiences. Set against the backdrop of the most conspicuous forum in which luck is mistaken for skill–the world of business–Fooled by Randomness is an irreverent, iconoclastic, eye-opening, and endlessly entertaining exploration of one of the least understood forces in all of our lives. From the Trade Paperback edition.

Consider A Spherical Patent

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Author: Joseph E. Gortych
Publisher: CRC Press
ISBN: 1439888051
Size: 52.47 MB
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Consider A Spherical Patent by Joseph E. Gortych

Original Title: Consider A Spherical Patent

Get Critical Insight into the Modern Patenting Scene We are now living in the "IP Era of the Information Age" where technology businesses are placing increasing emphasis on intellectual property (IP) as a way to add to their bottom lines. As a consequence, those working in a technology business or organization will inevitably be thrust into working with IP in one or more of its various forms. This increasing emphasis on IP matters requires technology workers to have at least a basic practical understanding of IP, particularly patents, so that they can effectively participate in their organizations’ IP and patenting efforts. Consider a Spherical Patent: IP and Patenting in Technology Business provides an unconventional and unvarnished examination of patents and the reality of how they are used and abused in technology business. The book starts with an overview of patents and how the patenting universe has become so complex, and warns of the danger of making "spherical," simplifying assumptions about patents and patent-related matters. It then takes a look at the cast of characters in the modern patenting world and the roles they play at the "IP Bazaar." The book goes on to explain the increasing emphasis in today’s modern IP world of leveraging patents in large collections of patents called "portfolios." The author describes how the fractal nature of innovation allows for the exponential growth of patents to densely pack an "IP space," including how this packing can exceed its normal limits and the adverse consequences. He also explores the evolution and importance of core to improvement to commercialization patents. A modern view of patents based on "quantum patent mechanics" explains some of the mysterious patent-related phenomena that are otherwise inexplicable using "classical patent mechanics." Using examples of actual patents and patent portfolios of real technology businesses, the author discusses how patenting strategies are defined based on "central organizing principles" behind why patents are being pursued. He describes the operational realities of running an internal patenting system as well as how to avoid the prevalent trap of accepting a high degree of disorder (entropy) in the business’s patenting system. He also takes a close look at other problematic areas, such as the use and abuse of provisional patent applications and how "no shame claims" can be issued by the patent office and the havoc they can create.


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Author: Robert G Hagstrom
Publisher: Columbia University Press
ISBN: 023153101X
Size: 37.76 MB
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Investing by Robert G Hagstrom

Original Title: Investing

Robert G. Hagstrom is one of the best-known authors of investment books for general audiences. Turning his extensive experience as a portfolio manager at Legg Mason Capital Management into valuable guidance for professionals and nonprofessionals alike, he is the author of six successful books on investment, including The Warren Buffett Way, a New York Times best-seller that has sold more than a million copies. In this updated second edition of Investing: The Last Liberal Art, Hagstrom explores basic and fundamental investing concepts in a range of fields outside of economics, including physics, biology, sociology, psychology, philosophy, and literature. He discusses, for instance, how the theory of evolution disrupts the notion of the efficient market and how reading strategies for literature can be gainfully applied to investing research. Building on Charlie Munger’s famous “latticework of mental models” concept, Hagstrom argues that it is impossible to make good investment decisions based solely on a strong knowledge of finance theory alone. He reinforces his concepts with additional data and new chapters on mathematics and history and updates his text throughout to reflect the developments of the past decade, particularly the seismic economic upheaval of 2008. He has also added a hundred new titles to the invaluable reading list concluding the book. Praise for the first edition: “I read this book in one sitting: I could not put it down.”—Peter L. Bernstein, author of Against the Gods: The Remarkable Story of Risk “Elegant and irresistible. Robert G. Hagstrom makes the complex clear as he confidently crisscrosses through the disciplines of finance, biology, physics, and literature. The only way to understand investing better, [Investing] shows, is to understand the world better. Ideas spark off the page at every turn. This is simply a gem of a book.”—James Surowiecki, New Yorker “Investing is a brisk and engaging read, and it is a pleasure to be in the presence of Hagstrom’s agile mind.”—International Herald Tribune

Sports Metric Forecasting

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Author: William Mallios
Publisher: Xlibris Corporation
ISBN: 149904271X
Size: 76.88 MB
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Sports Metric Forecasting by William Mallios

Original Title: Sports Metric Forecasting

Outcomes of major league games—winning/losing margins and total points scored relative to the odds makers’ lines in baseball, basketball and football—are graphed in terms of sports metric candlestick charts and then forecast in terms of adaptive drift modeling. The charts are constructed to reveal ad hoc forecasting patterns that may contribute to effective forecasting. These patterns are then included with variables contained in major sports data bases. The augmented data bases then provide input variables in the drift modeling forecasts.

Dynamic Hedging

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Author: Nassim Taleb
Publisher: John Wiley & Sons
ISBN: 9780471152804
Size: 20.71 MB
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Dynamic Hedging by Nassim Taleb

Original Title: Dynamic Hedging

Dynamic Hedging is the definitive source on derivatives risk. Itprovides a real–world methodology for managing portfolioscontaining any nonlinear security. It presents risks from thevantage point of the option market maker and arbitrage operator.The only book about derivatives risk written by an experiencedtrader with theoretical training, it remolds option theory to fitthe practitioner′s environment. As a larger share of marketexposure cannot be properly captured by mathematical models, notedoption arbitrageur Nassim Taleb uniquely covers both on–model andoff–model derivatives risks. The author discusses, in plain English, vital issues,including: The generalized option, which encompasses all instruments withconvex payoff, including a trader′s potential bonus. The techniques for trading exotic options, including binary,barrier, multiasset, and Asian options, as well as methods to takeinto account the wrinkles of actual, non–bellshapeddistributions. Market dynamics viewed from the practitioner′s vantage point,including liquidity holes, portfolio insurance, squeezes, fattails, volatility surface, GARCH, curve evolution, static optionreplication, correlation instability, Pareto–Levy, regime shifts,autocorrelation of price changes, and the severe flaws in the valueat risk method. New tools to detect risks, such as higher moment analysis,topography exposure, and nonparametric techniques. The path dependence of all options hedged dynamically. Dynamic Hedging is replete with helpful tools, market anecdotes,at–a–glance risk management rules distilling years of market lore,and important definitions. The book contains modules in which thefundamental mathematics of derivatives, such as the Brownianmotion, Ito′s lemma, the numeraire paradox, the Girsanov change ofmeasure, and the Feynman–Kac solution are presented in intuitivepractitioner′s language. Dynamic Hedging is an indispensable and definitive reference formarket makers, academics, finance students, risk managers, andregulators. The definitive book on options trading and risk management "If pricing is a science and hedging is an art, Taleb is avirtuoso." –Bruno Dupire, Head of Swaps and Options Research,Paribas Capital Markets "This is not merely the best book on how options trade, it isthe only book." –Stan Jonas, Managing Director, FIMAT–SocietyGARCH "Dynamic Hedging bridges the gap between what the besttraders know and what the best scholars can prove." –WilliamMargrabe, President, The William Margrabe Group, Inc. "The most comprehensive, insightful, intuitive work on thesubject. It is instrumental for both beginning and experiencedtraders."– "A tour de force. That rare find, a book of great practical andtheoretical value. Taleb successfully bridges the gap between theacademic and the real world. Interesting, provocative, wellwritten. Each chapter worth a fortune to any current or prospectivederivatives trader."–Victor Niederhoffer, Chairman, NiederhofferInvestments

Knowledge And Power

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Author: George Gilder
Publisher: Regnery Publishing
ISBN: 1621570282
Size: 44.85 MB
Format: PDF, ePub, Mobi
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Knowledge And Power by George Gilder

Original Title: Knowledge And Power

Ronald Reagan’s most-quoted living author - George Gilder - is back with an all-new paradigm-shifting theory of capitalism that will upturn conventional wisdom, just when our economy desperately needs a new direction. America’s struggling economy needs a better philosophy than the college student's lament: "I can't be out of money, I still have checks in my checkbook!" We’ve tried a government spending spree, and we’ve learned it doesn’t work. Now is the time to rededicate our country to the pursuit of free market capitalism, before we’re buried under a mound of debt and unfunded entitlements. But how do we navigate between government spending that's too big to sustain and financial institutions that are "too big to fail?" In Knowledge and Power, George Gilder proposes a bold new theory on how capitalism produces wealth and how our economy can regain its vitality and its growth. Gilder breaks away from the supply-side model of economics to present a new economic paradigm: the epic conflict between the knowledge of entrepreneurs on one side, and the blunt power of government on the other. The knowledge of entrepreneurs, and their freedom to share and use that knowledge, are the sparks that light up the economy and set its gears in motion. The power of government to regulate, stifle, manipulate, subsidize or suppress knowledge and ideas is the inertia that slows those gears down, or keeps them from turning at all. One of the twentieth century’s defining economic minds has returned with a new philosophy to carry us into the twenty-first. Knowledge and Power is a must-read for fiscal conservatives, business owners, CEOs, investors, and anyone interested in propelling America’s economy to future success.

The Performancestat Potential

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Author: Robert D. Behn
Publisher: Brookings Institution Press
ISBN: 0815725280
Size: 20.65 MB
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The Performancestat Potential by Robert D. Behn

Original Title: The Performancestat Potential

It started two decades ago with CompStat in the New York City Police Department, and quickly jumped to police agencies across the U.S. and other nations. It was adapted by Baltimore, which created CitiStat—the first application of this leadership strategy to an entire jurisdiction. Today, governments at all levels employ PerformanceStat: a focused effort by public executives to exploit the power of purpose and motivation, responsibility and discretion, data and meetings, analysis and learning, feedback and follow-up—all to improve government's performance. Here, Harvard leadership and management guru Robert Behn analyzes the leadership behaviors at the core of PerformanceStat to identify how they work to produce results. He examines how the leaders of a variety of public organizations employ the strategy—the way the Los Angeles County Department of Public Social Services uses its DPSSTATS to promote economic independence, how the City of New Orleans uses its BlightStat to eradicate blight in city neighborhoods, and what the Federal Emergency Management Agency does with its FEMAStat to ensure that the lessons from each crisis response, recovery, and mitigation are applied in the future. How best to harness the strategy's full capacity? The PerformanceStat Potential explains all.

Making The Number

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Author: Greg Alexander
Publisher: Penguin
ISBN: 1101216476
Size: 20.27 MB
Format: PDF, ePub
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Making The Number by Greg Alexander

Original Title: Making The Number

The essential tool kit to achieve breakthrough sales performance improvements. Numbers don’t lie: 40 percent of all salespeople miss their targets each year. How can sales managers ensure their teams are doing everything possible? The key lies in benchmarking, which is not new for finance or manufacturing but rarely gets applied to sales. Making the Number will teach executives to embrace data-driven decision making and rely less on gut instinct. Comparing a sales force to those of relevant peers leads to many opportunities to improve performance. The authors take readers through their five-step methodology for sales benchmarking, showing how to select metrics; gather, compute, and compare internal and external data; and then actually use the data. Making the Number includes case studies of sales benchmarking in action. For example, find out how Discover Financial Services plays David to the Goliaths of MasterCard and Visa. Whether you’re a sales rep, a manager, or a CEO, this book will show you a better way to make your number.

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