To the outsider the City is still something of a mystery. Independent traders and investors may study the financial pages and log on to websites to read about the markets, yet what they find there will generally give them little concept of the realities of City business. The hard truth is that independent traders are up against dealers with more information, professional investors with greater financial clout, and investment banks and hedge funds with more powerful systems, all of which can leave the odds stacked against them and puts them a few crucial steps behind in their trades. "The Street-Smart Trader" will help level the playing field. Ian Lyall - an experienced financial journalist - provides an insider's view on the big issues, garnered from candid interviews with experienced City figures. He delves into key areas, including: press coverage of the markets, the reports of financial analysts, and the activities of hedge funds. He encourages readers to question what they think they know and shows how the insights he provides can be used to help traders make more successful, profitable trades in the future.
Welcome to the Real City of London Introduction 1. In the Beginning there was Coffee - Introduction - Hot Drinks and Hotter Stocks - Living Memory: Post-War Bowler Hats and Gorillas - Big Bang - Measuring the Success of Big Bang - Viewing Big Bang in the Context of the 2007-2009 Financial Crisis - What We Have Learned 2. If You Don't Know the Rules, Don't Play the Market - Introduction - Well-worn, but Sound, Advice - The Full Monty - 7 Rules for the Street-Smart Trader - Scams and the City - What We Have Learned 3. Share Price Manipulation and Insider Dealing - Introduction - Trash and Cash - How Share Prices are Easily Manipulated - Manipulation of the Media - On Share Ramping - First Person: Analysing Market News - The Inside Track on Insider Dealing - What We Have Learned 4. The City Spin Game and How it is Played - Introduction - Public Relations (PR) - First Person: The Corporate Message - Companies and Press Attention - The Friday Night Drop - Speaking in Tongues - Typical Ambiguous Phrases Used by Journalists - What We Have Learned 5. The Trouble with Analysts - Introduction - Going Back in Time - What Analysts Do - The Relationship Between Banks, Funds and Analysts - A Bloke Called Blodget - Analysts and the 2007-2009 Financial Crisis - What We Have Learned 6. Market Makers and Other Professional Traders - Introduction - The Misunderstood Market Maker - First Person: Meeting a Market Marker - Proprietary Trading: The Fall and Rise of Casino Banking - Stuck in the Middle... The Inter-Dealer Broker - Dark Pools of Liquidity - High Frequency Trading (HFT) - The Methods of Institutional Investors - The (Under)performance of Fund Managers - What We Have Learned 7. Hedge Funds - Introduction - A Beginner's Guide to Hedge Funds - Tackling Misconceptions About Hedge Funds - Risk Consultancy - Hedge Funds, Market Colour and Inside Information - What We Have Learned 8. Boardroom Stock Pickers - Introduction - The Humanity of the Boardroom - Monitoring Investments Made by the Boardroom - To Follow the Trades of the Boardroom or Not - What We Have Learned 9. Vanity, Egotism and Fear: The World of Mergers and Acquisitions - Introduction - Synergies in Mergers and Acquisitions (M&A) - Mergers and Shareholder Value - Deal Making is Glamorous, Due Diligence is Not - When Deals Go Bad - Those Who Profit from M&A - What We Have Learned Conclusion Endnotes.
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