In this business classic - now with a new Afterword in which the author draws parallels to the recent financial crisis - Roger Lowenstein captures the gripping roller-coaster ride of Long-Term Capital Management. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein explains not just how the fund made and lost its money but also how the personalities of Long-Term´s partners, the arrogance of their mathematical certainties, and the culture of Wall Street itself contributed to both their rise and their fall. When it was founded in 1993, Long-Term was hailed as the most impressive hedge fund in history. But after four years in which the firm dazzled Wall Street as a $100 billion moneymaking juggernaut, it suddenly suffered catastrophic losses that jeopardized not only the biggest banks on Wall Street but the stability of the financial system itself. The dramatic story of Long-Term´s fall is now a chilling harbinger of the crisis that would strike all of Wall Street, from Lehman Brothers to AIG, a decade later. In his new Afterword, Lowenstein shows that LTCM´s implosion should be seen not as a one-off drama but as a template for market meltdowns in an age of instability - and as a wake-up call that Wall Street and government alike tragically ignored. Please note: This audiobook is in Russian. 1. Russian. Stanislav Koncevich. http://samples.audible.de/bk/zaot/000432/bk_zaot_000432_sample.mp3.
Perhaps the most intriguing aspect of ancient Egyptian civilization was its inception from the ground up, as the ancient Egyptians had no prior civilization which they could use as a template. In fact, ancient Egypt itself became a template for the civilizations that followed. The Greeks and the Romans were so impressed with Egyptian culture that they often attributed many attributes of their own culture, usually erroneously, to the Egyptians. With that said, some minor elements of ancient Egyptian culture were, indeed, passed on to later civilizations. Egyptian statuary appears to have had an initial influence on the Greek version, and the ancient Egyptian language continued long after the pharaonic period in the form of the Coptic language.Part of the reason Egyptian history is so intriguing is because it is so enigmatic - even today, despite the wealth of written materials and countless monuments, Egyptologists constantly uncover more mysteries about ancient Egypt, even if many of those mysteries are somewhat mundane and appeal more to academics. For example, historians still debate precise chronologies of dynasties, theological nuances, and architectural details.One such mystery that shows no signs of going away is the history of the archeological site known as Amarna, which is actually the name of the modern village that is closest to the ancient Egyptian city of Akhet-Aten. Akhet-Aten was built during the reign of one of Egypt’s most enigmatic pharaohs, Akhenaten (ruled ca. 1364-1347 BCE), and modern archaeological studies have shown it was hastily built and almost as quickly abandoned.Although the city had a brief lifespan, it was vitally important at the time, so much so that the late 18th Dynasty has been named the Amarna Period by modern scholars. The importance is reflected in the changes that Akhenaten attempted to make to Egyptian religion, art, architecture, and society, all of which can be found among the ruins of Amarna, fro 1. Language: English. Narrator: Colin Fluxman. Audio sample: http://samples.audible.de/bk/acx0/152260/bk_acx0_152260_sample.mp3. Digital audiobook in aax.
Entrepreneurial Finance: Venture Capital, Deal Structure & Valuation, Second Edition illustrates how the theory and methods of finance and economics can be used to guide strategic decision-making. This text prepares readers for a variety of situations that confront stakeholders in the rapidly evolving fields of entrepreneurial finance and venture capital, outlining ways to think from the investor´s and entrepreneur´s perspectives. Readers will find a unique and direct focus on value creation as the objective of each strategic and financial choice. The authors specifically address the influences of risk and uncertainty on new venture success and investment performance, devoting substantial attention to methods of financial modeling and contract design. Finally, they provide a comprehensive survey of approaches to new venture valuation, with an emphasis on applications. The second edition is thoroughly revised to reflect new data, research, and changes in practice in this fast-moving field. It has an increased focus on venture capital, while maintaining its hallmark coverage of the financial aspects of entrepreneurship. Updates throughout address technological changes that have the potential to dramatically change the landscape for finance, such as recent innovations in contracting for early-stage ventures, artificial intelligence and machine learning, and Internet connectivity. Lastly, the book offers a companion website with a useful suite of resources for students and instructors alike, including spreadsheets, templates, simulation applications, and interactive cases and tutorials.
This book is one of the first historical revisions of the Latin American debt crisis of 1982, exploring recently disclosed archival sources for a number of creditor and debtor institutions. It fills a gap on the national and international historiography on international finance in the 1970s and the Latin American debt crisis of the 1980s. The domestic banking approach in revisiting the 1982 financial crisis is a main distinction of this work and the consequences of the involvement of Mexican banks in international finance a major contribution to the literature. Beyond its thoroughly international approach, the book addresses a broad array of disciplines: financial history, political economy, international relations and business history. While the focus is on financial crisis, its implications extend to current regulatory and financial policy relative to crisis and non-crisis matters. In addition to providing a template for understanding other instances of financial crisis, the book points the way to research in a wide range of additional questions. These include the economic role of foreign capital, the transmission of financial crisis, and the decision criteria of states during crises. It also offers a strong example of the importance of politics in resolving economic problems. Because of this, the book will be of interest to historians, economists and political scientists.