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• The emperors of banking have no clothes
• How borrowing magnifies risk
• The dark side of borrowing
• Is it really "a wonderful life"?
• Banking dominos
• What can be done?
• Is equity expensive?
• Paid to gamble
• Sweet subsidies
• Must banks borrow so much?
• Too fragile still
• Bailouts and central banks
• Bailouts forever
• Above the law?.

• The corporation and financial markets
• Introduction to financial statement analysis
• Financial decision making and the law of one price
• The time value of money
• Interest rates
• Valuing bonds
• Investment decision rules
• Fundamentals of capital budgeting
• Valuing stocks
• Capital markets and the pricing of risk
• Optimal portfolio choice and the capital asset pricing model
• Estimating the cost of capital
• Investor behavior and capital market efficiency
• Captial structure in a perfect market
• Debt and taxes
• Financial distress, managerial incentives, and information
• Payout policy
• Capital budgeting and valuation with leverage
• Valuation and financial modeling : a case study
• Financial options
• Option valuation
• Real options
• Raising equity capital
• Debt financing
• Leasing
• Working capital management
• Short-term financial planning
• Mergers and acquisitions
• Corporate governance
• Risk management
• International corporate finance

• Chapter 1. Artificial Intelligence and Financial Markets
• Chapter 2. AI, the overall picture
• Chapter 3. Financial markets: values, dynamics, problems
• Chapter 4. The AI's Role in the Great Reset
• Chapter 5. AI Fintech: find out the truth
• Chapter 6. ABM applications to Financial Markets
• Chapter 7. ML application to the Financial Market
• Chapter 8. AI tools for pricing of distressed asset utp and npl loan portfolios
• Chapter 9. More than data science: FuturICT 2.0
• Chapter 10. Opinion dynamics.

This book is divided into two parts, the first of which describes AI as we know it today, in particular the Fintech-related applications. In turn, the second part explores AI models in financial markets: both regarding applications that are already available (e.g. the blockchain supply chain, learning through big data, understanding natural language, or the valuation of complex bonds) and more futuristic solutions (e.g. models based on artificial agents that interact by buying and selling stocks within simulated worlds). The effects of the COVID-19 pandemic are starting to show their financial effects: more companies in a liquidity crisis; more unstable debt positions; and more loans from international institutions for states and large companies. At the same time, we are witnessing a growth of AI technologies in all fields, from the production of goods and services, to the management of socio-economic infrastructures: in medicine, communications, education, and security. The question then becomes: could we imagine integrating AI technologies into the financial markets, in order to improve their performance? And not just limited to using AI to improve performance in high-frequency trading or in the study of trends. Could we imagine AI technologies that make financial markets safer, more stable, and more comprehensible? The book explores these questions, pursuing an approach closely linked to real-world applications. The book is intended for three main categories of readers: (1) management-level employees of companies operating in the financial markets, banks, insurance operators, portfolio managers, brokers, risk assessors, investment managers, and debt managers; (2) policymakers and regulators for financial markets, from government technicians to politicians; and (3) readers curious about technology, both for professional and private purposes, as well as those involved in innovation and research in the private and public spheres.

Explores the history of the CFA franc and monetary colonization in Africa

• Chapter 1: Introduction to Automated Market Makers 1.1. Introduction to Decentralized Finance (DeFi) 1.2. What is an Automated Market Maker (AMM) 1.3. Decentralized Exchanges (DEX) 1.4. Liquidity Pools
• Chapter 2: Uniswap v2
• 1.1 Introduction
• 1.2 Trading perspective
• 1.3 Providing liquidity
• 1.4 Optimal routing among DEX's
• Chapter 3: Balancer
• 2.1 The Constant Value Function 2.2 Spot price
• 2.3 Trading formulas
• 2.4 All-asset deposit
• 2.5 Single-asset deposit
• 2.6 All-asset withdrawal
• 2.7 Single-asset withdrawal
• 2.8 Pool tokens swap
• Chapter 4: Curve Finance
• 3.1 Introduction
• 3.2 Mathematical preliminaries
• 3.3 Trading formulas
• 3.4 All-asset deposit
• 3.5 All-asset withdrawal
• 3.6 Single-asset withdrawal
• 3.7 Curve LP token swap
• Chapter 5: Uniswap v3
• 4.1 Introduction
• 4.2 Ticks
• 4.3 Concentrated liquidity
• 4.4 LP position value
• 4.5 Impermanent loss
• 4.6 Position minting
• 4.7 Uniswap v3 position vs. short put options.
• (source: Nielsen Book Data)

Explore Automated Market Makers (AMMs), the underlying protocols used by decentralized exchanges (DEX) to allow users to perform trades of cryptocurrencies in a decentralized way with no middlemen. This book provides a thorough study and a clear-cut exposition of the principal AMMs (Uniswap v2 and v3, Balancer, and Curve). You'll receive a detailed description of how these AMMs work, unveiling the mathematics behind them and showing plenty of examples as well as novel proofs for several interesting facts. Each chapter describes an AMM's core idea and derives the mathematical formulas used in the code, giving careful explanations of the logical thinking involved and detailing the steps needed to reach those formulas. All these explanations are complemented with thoughtfully chosen examples which further help to enlighten the readers on how the formulae work. In addition, the relevant parts of the codes of the AMMs are shown after explaining each formula so that the actual implementation of the formulae can be seen. In a traditional trading market a buy order has to be matched with a sell order to achieve a trade. However, for an AMM, users trade against the protocol itself, a smart contract, or a community pool of funds. In simple terms this is an open source computer program in which mathematical formulas define prices. Automated Market Makers examines this critical point revealing that no banks or intermediaries are necessary, giving crucial financial access to a much larger crowd, regardless of who they are with less barriers to access.What You'll Learn Understand the principals of decentralized finance (DeFi) Grasp mathematical formulae that underpin decentralized exchanges Work with Solidity programming language Review current industry best practices Who This Book Is For Those new to Blockchain and Cryptocurrency trading, who want to learn more about AMMs Developers who want to dive deeper into the core features of AMM platforms Investors and venture capitalists who want to know more about new emerging technologies.
(source: Nielsen Book Data)

• Cover
• Title Page
• Copyright Page
• Preface
• Contents
• List of Tables
• List of Abbreviations
• 1 Introduction: The Puzzle of Bank Structural Reform
• 2 A Comparative Financial Power Approach
• 3 Failing to Tame Too-Big-To-Fail Banks
• 4 From Obama to Trump: Contested Reform in the United States
• 5 The Importance of Being Vickers: Venue Shifting in the United Kingdom
• 6 Germany: Defending Deutsche Bank AG
• 7 France: Defending the National Champions
• 8 The Netherlands: Shifting Structural Reform Off the Agenda

• 9 Liikanen's Legacy: Financial Power and Political Stalemate in the European Union
• 10 Conclusion: Contribution and Future Research
• References
• Index

The problem of banks being 'too big to fail' was the defining regulatory issue of the global financial crisis. However, attempts to tackle the problem by separating retail banking from higher risk trading activities - known as structural reform - proved to be highly divisive and contributed to significant regulatory divergence. In this book, David Howarth and Scott James explain this variation by examining the politics of bank structural reform across six key jurisdictions: the United States, the European Union, the United Kingdom, France, Germany, and the Netherlands. Integrating political economy and public policy approaches, they develop a novel 'comparative financial power' framework to analyse how financial industry influence is mediated by two factors: first, whether bank lobbying is unified and centralized (cooperative financial power) or divided and fragmented (competitive financial power); and second, policy makers' use of venue shifting to depoliticize contentious policy issues. The book explains that the US and UK governments implemented major reforms because the banking industry was divided and faced significant opposition. However, venue shifting to an independent committee led to durable reform in the UK, while political polarization in the US contributed to contested reform. By contrast, the French and German governments balanced unified bank lobbying and political pressures to act by pursuing limited symbolic reforms; the Dutch government deflected the issue through delegation to multiple commissions (no reform); while political stalemate at the EU level resulted from early venue shifting and concerted pan-European bank lobbying. The book makes a major contribution to scholarship on the political economy of finance and business power.
(source: Nielsen Book Data)

• Introduction: Banking in the nation's largest slave market
• The limits of early bank financing of slavery
• Adapting slave financing to the needs of the frontier South during the nation's first boom and bust
• Old South banks and frontier finance
• Pushing financial boundaries with traditional banks
• Reimagining banking for a slave economy
• Foreclosing (or not) on delinquent slaveholders
• Escaping debt : bankruptcy, fraud, and going to Texas
• When banks fail
• From commercial banking to private finance
• Epilogue: Banks, debt, emancipation, reparations, and memory

"Sharon Murphy's book is a powerful and unprecedented dive into the entangled history of banking and slavery in nineteenth-century America. Slaveholders developed credit and creditworthiness by using enslaved people as collateral, and this allowed them to undertake an endless array of projects. But Murphy further shows that this credit system grew and changed as banks sought new ways to realize their own profits and power. She demonstrates not merely how slavery was financed by banks but how banks were financed by slavery. By extension, everything banks enabled, not least the physical expansion of the United States itself, was also then literally indebted to that noxious institution"-- Provided by publisher

• Introduction : banking in the nation's largest slave market
• Part I. Financing southwestern expansion through the 1810s. The limits of early bank financing of slavery
• Adapting slave financing to the needs of the frontier South during the nation's first boom and bust
• Part II. Financing an empire of slavery in the 1820s and 1830s. Old South banks and frontier finance
• Pushing financial boundaries with traditional banks
• Reimagining banking for a slave economy
• Part III. The collateral damage of the Panics of 1837 and 1839. Foreclosing (or not) on delinquent slaveholders
• Escaping debt : bankruptcy, fraud, and going to Texas
• When banks fail
• From commercial banking to private finance
• Epilogue : banks, debt, emancipation, reparations, and memory

"Sharon Murphy's book is a powerful and unprecedented dive into the entangled history of banking and slavery in nineteenth-century America. Slaveholders developed credit and creditworthiness by using enslaved people as collateral, and this allowed them to undertake an endless array of projects. But Murphy further shows that this credit system grew and changed as banks sought new ways to realize their own profits and power. She demonstrates not merely how slavery was financed by banks but how banks were financed by slavery. By extension, everything banks enabled, not least the physical expansion of the United States itself, was also then literally indebted to that noxious institution"-- Provided by publisher

• Introduction : banking in the nation's largest slave market
• Part I. Financing southwestern expansion through the 1810s. The limits of early bank financing of slavery
• Adapting slave financing to the needs of the frontier South during the nation's first boom and bust
• Part II. Financing an empire of slavery in the 1820s and 1830s. Old South banks and frontier finance
• Pushing financial boundaries with traditional banks
• Reimagining banking for a slave economy
• Part III. The collateral damage of the Panics of 1837 and 1839. Foreclosing (or not) on delinquent slaveholders
• Escaping debt : bankruptcy, fraud, and going to Texas
• When banks fail
• From commercial banking to private finance
• Epilogue : banks, debt, emancipation, reparations, and memory

"Before the Gilded Age is the first modern and thorough biography of William Wilson Corcoran (1798-1888), one of the nation's earliest and most successful political insiders, financiers, philanthropists, and shapers of the emerging cultural elite during the era before the Gilded Age. He was a college dropout (Georgetown College) who became one of the richest men in Washington. A controversial figure in his own time and ours, Corcoran was a masterful political "shapeshifter" whose chameleonlike ability to work both sides of the Mason-Dixon line during and after the Civil War enabled him to thrive seamlessly between sitting out the war in Europe while rumors of treason swirled around him and then returning to the capital after the Union victory. He was friendly with Robert E. Lee and William Tecumseh Sherman; Jefferson Davis and Daniel Webster. He owned at least two individuals and worked to end Home Rule, disenfranchising the voters of Washington, DC, and ending Reconstruction in the District. He was one of the earliest consistent practitioners of the much-reviled activity of lobbying. And he devised the strategy to leverage public debt to finance the US prosecution of the Mexican-American War. Yet he also played a key role in stabilizing and merchandizing US financial securities at home and abroad, created a bank that remained independent for 175 years (Riggs Bank), and founded the Corcoran Gallery of Art. Corcoran's failings are examined along with his contributions to some of the major developments in finance and philanthropy of his era"-- Provided by publisher.

"The recent rise of dollar and euro inflation rates has rekindled interest in two alternative monies: gold and Bitcoin. Written in accessible style by a respected specialist on the gold standard and free banking, Better Money explains and evaluates gold, fiat, and Bitcoin standards without hype"-- Provided by publisher.

• The History of Gaming, Gambling, and the Lottery
• The Community that the Lottery Made
• The Art of Betting
• Government Regulation, 1861-84
• The Case of 1885: Restoration and Aftermath
• The Crossroads of 1885: Zhang Zhidong in a "Season of Existential Crisis"
• The Cantonese Origin of a Transnational Practice

"Weixing was a highly-organized lottery practice wherein people bet on the surnames of which candidates would pass the civil and military examinations in China. This book reconstructs the inner mechanisms of Weixing and other lottery games and traces a series of institutional revenue innovations surrounding lottery regulation from the 1850s to the early 1900s, depicting an expansive community created by the lottery with cultural and informational channels stretching around the world."-- Provided by publisher

Long-held secrets of the world's most elite VC investors revealed! Whether you're an investor, entrepreneur, or career-focused business professional, developing a venture capitalist (VC) mindset will give you the edge on the competition every time-but VCs traditionally operate in a corner of finance cloaked in obscurity and secrecy. Now, Breaking into Venture draws the curtain on this exclusive club, providing priceless insights into how its members think and invest. This groundbreaking guide levels the playing field by outlining how the industry actually works, as well as the 9 fundamental principles of thinking like a successful VC, providing everything you need to navigate the rapidly changing technology landscape. By learning how VCs think, you'll unlock your own potential, whether you're looking to invest like a pro, develop and launch a successful business, or create the career of your dreams. Breaking into Venture covers every angle, including: The three keys to success in venture capital: accessing great investments, analyzing which ones to support, and adding value post-investment How to build a relevant network from scratch The importance of building a "narrative" that communicates who you are, why you're relevant, what you're looking for, and how you can support your investments How to identify limitations and biases when choosing investments The "5 Ts" of how VCs evaluate companies: team, technology, TAM, terms, and timing This game-changing guide democratizes the VC world by showing the ropes to those who aren't already part of the "in crowd, " aren't already wealthy, or don't even know where Sand Hill Road is. With Breaking into Venture, you have everything you need to leverage the VC mindset for investing or career success.
(source: Nielsen Book Data)

This book exposes, for the first time in modern scholarship, the role that the rise of the Carry Trade played in British financial crises between 1825 and 1866, how in reaction the Bank of England improved its management of monetary policy after 1866 and how those lessons have been forgotten since the 1970s. Britain is one of the few major capitalist economies in the world to have avoided policy-induced systemic financial crises for more than 100 years of its history--between 1866 and 1973. Beforehand, it suffered a series of serious banking panics, in 1825, 1837, 1847, 1857-58 and 1866. Since the 1970s banking instability has returned again, with the global financial crisis of 2007-09 hitting Britain hard. Economists and policymakers have asked what can be learnt from Britain's experience of the disappearance and reappearance of crises to help efforts to prevent future ones. This book answers that question with a major reassessment of Britain's financial history over the past two centuries. It does so by applying the long-neglected ideas of the British Banking School to explain how crises can occur because of the Carry Trade. This book is essential reading for economists and historians of modern Britain, practitioners and policymakers, as well as anyone who is affected by financial crises and their consequences