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Alternative Investments

“CAIA Association has developed two examinations that are used to certify Chartered Alternative Investment Analysts. The Level I curriculum builds a foundation in both traditional and alternative investment markets–for example, the range of statistics that are used to define investment performance as well as the many types of hedge fund strategies. The readings for the Level II exam focus on the same strategies, but change the context to one of risk management and portfolio optimization. Level I CAIA exam takers have to work through an outline of terms, be able to identify and describe aspects of financial markets, develop reasoning skills, and in some cases make computations necessary to solve business problems”–

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Applications of Computational Intelligence in Data-Driven Trading


“Life on earth is filled with many mysteries, but perhaps the most challenging of these is the nature of Intelligence.” – Prof. Terrence J. Sejnowski, Computational Neurobiologist The main objective of this book is to create awareness about both the promises and the formidable challenges that the era of Data-Driven Decision-Making and Machine Learning are confronted with, and especially about how these new developments may influence the future of the financial industry. The subject of Financial Machine Learning has attracted a lot of interest recently, specifically because it represents one of the most challenging problem spaces for the applicability of Machine Learning. The author has used a novel approach to introduce the reader to this topic: The first half of the book is a readable and coherent introduction to two modern topics that are not generally considered together: the data-driven paradigm and Computational Intelligence. The second half of the book illustrates a set of Case Studies that are contemporarily relevant to quantitative trading practitioners who are dealing with problems such as trade execution optimization, price dynamics forecast, portfolio management, market making, derivatives valuation, risk, and compliance. The main purpose of this book is pedagogical in nature, and it is specifically aimed at defining an adequate level of engineering and scientific clarity when it comes to the usage of the term “Artificial Intelligence,” especially as it relates to the financial industry. The message conveyed by this book is one of confidence in the possibilities offered by this new era of Data-Intensive Computation. This message is not grounded on the current hype surrounding the latest technologies, but on a deep analysis of their effectiveness and also on the author’s two decades of professional experience as a technologist, quant and academic.

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Computer Accounting Using Myob Verion 19.10

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eBook* for BAFI1045 textbook 11th Edition


Used extensively by professionals, organizations and schools across the country, Reilly/Brown/Leeds’ INVESTMENT ANALYSIS AND PORTFOLIO MANAGEMENT, 11th Edition, combines solid theory with practical applications to help students learn how to manage their money to maximize their earning potential. Now streamlined into a succinct 18 chapters, the text has been thoroughly revised to present content that is vital to a thorough understanding of investment management in the most effective way. It uses real-world illustrations and hands-on exercises to bring investment concepts to life for students. The 11th edition continues its tradition of unparalleled international coverage. It also offers expanded discussions of the impact of changes in both technology and regulations on the functioning and organization of global security markets and devotes three chapters to derivatives securities.

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Essentials of Investments

The market leading undergraduate investments textbook, Essentials of Investments by Bodie, Kane, and Marcus, emphasizes asset allocation while presenting the practical applications of investment theory. The authors have eliminated unnecessary mathematical detail and concentrate on the intuition and insights that will be useful to practitioners throughout their careers as new ideas and challenges emerge from the financial marketplace. The Tenth Edition includes increased attention to changes in market structure and trading technology, while continuing to be organized around one basic theme – that security markets are nearly efficient.

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Expected Returns


This comprehensive reference delivers a toolkit for harvesting market rewards from a wide range of investments. Written by a world-renowned industry expert, the reference discusses how to forecast returns under different parameters. Expected returns of major asset classes, investment strategies, and the effects of underlying risk factors such as growth, inflation, liquidity, and different risk perspectives, are also explained. Judging expected returns requires balancing historical returns with both theoretical considerations and current market conditions. Expected Returns provides extensive empirical evidence, surveys of risk-based and behavioral theories, and practical insights.

Hedge Fund Analysis An In-Depth Guide to Evaluating Return Potential and Assessing Risks


A detailed, step-by-step book covering the entire hedge fund evaluation process Investing in hedge funds is different from investing in other asset classes. There is much less publicly available information about hedge funds performance than there is about mutual funds or individual stocks. Consequently, investing in this class requires more sophisticated investment knowledge, greater due diligence, and, in many cases, a better-developed ability to evaluate investment managers. Hedge Fund Analysis provides a broad framework of how to approach this endeavor, from initial screening to analytical techniques, interviewing skills, and legal and contract negotiations. Along the way, it demonstrates a variety of mechanisms for monitoring and tracking hedge funds and the underlying hedge fund portfolios–explaining each stage of the process in minute detail and providing specific examples which fully explain the opportunities and challenges you’ll face each step of the way. * Provides a detailed look at how to source hedge funds, screen through them, and rank their strengths and weaknesses * Lays out a thorough process for evaluating funds, from initial interviews to performance analysis to onsite meetings * Reveals what questions to ask by strategy in order to understand the underlying risk factors associated with each * Highlights non-investment analysis, including operational due diligence and risk management, as integral elements in the process Written by a financial professional with over twenty years of experience conducting investment manager due diligence, this book will put you in a position to make more informed decisions when investing in hedge funds.

Investment Analysis and Portfolio Management 11th Edition


Used extensively by professionals, organizations and schools across the country, Reilly/Brown/Leeds’ INVESTMENT ANALYSIS AND PORTFOLIO MANAGEMENT, 11th Edition, combines solid theory with practical applications to help students learn how to manage their money to maximize their earning potential. Now streamlined into a succinct 18 chapters, the text has been thoroughly revised to present content that is vital to a thorough understanding of investment management in the most effective way. It uses real-world illustrations and hands-on exercises to bring investment concepts to life for students. The 11th edition continues its tradition of unparalleled international coverage. It also offers expanded discussions of the impact of changes in both technology and regulations on the functioning and organization of global security markets and devotes three chapters to derivatives securities.


Investments 11th International Edition

$128.00 $77.00

The integrated solutions for Bodie, Kane, and Marcus’ Investments set the standard for graduate/MBA investments textbooks. The unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. The content places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. Connect is the only integrated learning system that empowers students by continuously adapting to deliver precisely what they need, when they need it, and how they need it, so that your class time is more engaging and effective.

Law of Investments and Financial Markets 3rd Edition


Law of Investments and Financial Markets 3rd ed examines the various areas of law that impact on investors and those working in the investment industry, including financial advisers and planners, accountants and lawyers. Written by award-winning university lecturers and specialists in their fields, Melissa Naylor and Toni Chardon, this book makes difficult and complex legal concepts accessible and easy to understand, without losing essential detail. It is accordingly well suited to tertiary students of financial planning and finance law, as well as financial planners, accountants and lawyers practising in investment law. One major focus is Chapter 7 of the Corporations Act 2001 (Cth) and the requirements associated with Australian Financial Services Licences, including the legal obligations and compliance requirements of licensees and their representatives, as well as laws relating to disclosure, dispute resolution and investor protection, and those relating to financial advisers. Updated to include the recommendations of the Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, this edition also includes discussion of the latest amendments and reforms, as well as relevant regulatory guides and recent case law. Various forms of investment are also considered, with separate chapters considering financial services and products, managed investments, real property and direct investments into companies, as well as superannuation. The topics of bankruptcy and corporate insolvency are also reviewed. The main sources of law covered include: * legislation such as the Corporations Act 2001 (Cth); the Australian Securities and Investments Commission Act 2001 (Cth); the Competition and Consumer Act 2010 (Cth) and Superannuation Industry (Supervision) Act 1993 (Cth); * the common law, including fiduciary duties as well as contract law and the tort of negligence; and * administrative actions by the Australian Securities and Investments Commission (ASIC) and the Australian Taxation Office (ATO) through regulatory guides and rulings. This book provides most of the guidance that a serious investor may need on how the current law impacts on their particular investments. It is also designed to assist investment advisers and investors to quickly and accurately find the appropriate law that relates to their requirements. A good-all-rounder, it does not pre-suppose legal knowledge yet manages to quickly orientate the reader into a comprehensive understanding of how Australian laws and regulation impact investments, investors, and their advisers, making it an essential addition to the bookshelf of any current or aspirational investor or professional adviser in the field of financial services or investments.

Modern Portfolio Theory and Investment Analysis


An excellent resource for investors, Modern Portfolio Theory and Investment Analysis, 9th Edition examines the characteristics and analysis of individual securities as well as the theory and practice of optimally combining securities into portfolios. A chapter on behavioral finance is included, aimed to explore the nature of individual decision making. A chapter on forecasting expected returns, a key input to portfolio management, is also included. In addition, investors will find material on value at risk and the use of simulation to enhance their understanding of the field.

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Options, Futures, and Other Derivatives 9th Edition

For graduate courses in business, economics, financial mathematics, and financial engineering; for advanced undergraduate courses with students who have good quantitative skills; and for practitioners involved in derivatives markets Practitioners refer to it as “the bible;” in the university and college marketplace it’s the best seller; and now it’s been revised and updated to cover the industry’s hottest topics and the most up-to-date material on new regulations. Options, Futures, and Other Derivatives by John C. Hull bridges the gap between theory and practice by providing a current look at the industry, a careful balance of mathematical sophistication, and an outstanding ancillary package that makes it accessible to a wide audience. Through its coverage of important topics such as the securitization and the credit crisis, the overnight indexed swap, the Black-Scholes-Merton formulas, and the way commodity prices are modeled and commodity derivatives valued, it helps students and practitioners alike keep up with the fast pace of change in today’s derivatives markets. This program provides a better teaching and learning experience-for you and your students. Here’s how: *NEW! Available with a new version of DerivaGem software-including two Excel applications, the Options Calculator and the Applications Builder*Bridges the gap between theory and practice-a best-selling college text, and considered “the bible” by practitioners, it provides the latest information in the industry*Provides the right balance of mathematical sophistication-careful attention to mathematics and notation *Offers outstanding ancillaries toround out the high quality of the teaching and learning package.

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The Only Guide to Alternative Investments You’ll Ever Need

$48.26 $43.00

The rewards of carefully chosen alternative investments can be great. But many investors don’t know enough about unfamiliar investments to make wise choices. For that reason, financial advisers Larry Swedroe and Jared Kizer designed this book to bring investors up to speed on the twenty most popular alternative investments: Real estate, Inflation-protected securities, Commodities, International equities, Fixed annuities, Stable-value funds, High-yield (junk) bonds, Private equity (venture capital), Covered calls, Socially responsible mutual funds, Precious metals equities, Preferred stocks, Convertible bonds, Emerging market bonds, Hedge funds, Leveraged buyouts, Variable annuities, Equity-indexed annuities, Structured investment products, Leveraged funds The authors describe how the investments work, the pros and cons of each, which to consider, which to avoid, and how to get started. Swedroe and Kizer evaluate each investment in terms of: Expected returns Volatility Distribution of returns Diversification potential Fees Trading and operating expenses Liquidity Tax efficiency Account location Role in an asset-allocation program Any investor who is considering or just curious about investment opportunities outside the traditional world of stocks, bonds, and bank certificates of deposit would be well-advised to read this book.

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Why Moats Matter: The Morningstar Approach to Stock Investing

Incorporate economic moat analysis for profitable investing

Why Moats Matter is a comprehensive guide to finding great companies with economic moats, or competitive advantages.This book explains the investment approach used by Morningstar,Inc., and includes a free trial to Morningstar’s Research.

Economic moats-or sustainable competitive advantages-protect companies from competitors. Legendary investor Warren Buffett devised the economic moat concept.Morningstar has made it the foundation of a successful stock-investing philosophy.

Morningstar views investing in the most fundamental sense: ForMorningstar, investing is about holding shares in great businesses for long periods of time. How can investors tell a great business from a poor one? A great business can fend off competition and earn high returns on capital for many years to come. The key to finding these great companies is identifying economic moats that stem fromat least one of five sources of competitive advantage-costadvantage, intangible assets, switching costs, efficient scale, and network effect. Each source is explored in depth throughout this book.

Even better than finding a great business is finding one at a great price. The stock market affords virtually unlimited opportunities to track prices and buy or sell securities at any hour of the day or night. But looking past that noise and understanding the value of a business’s underlying cash flows is the key to successful long-term investing. When investors focus on a company’s fundamental value relative to its stock price, and not where the stock price sits today versus a month ago, a day ago, or five minutes ago, investors start to think like owners, not traders. And thinking like an owner will makes readers better nvestors.

The book provides a fundamental framework for successful long-term investing. The book helps investors answer two key questions: How can investors identify a great business, and when

About the Author

Heather E. Brilliant, CFA, Co-Chief Executive Officer, Morningstar Australasia Prior to assuming her current role, Brilliant led Morningstar’s global equity and corporate credit research teams, consisting of more than 120 analysts, strategists, and directors. Brilliant is a member of the CFA Institute Board of Governors and is a past chairman of the CFA Society of Chicago.

Elizabeth Collins, CFA, Director of Equity Research, North America, Morningstar Collins is responsible for leading Morningstar’s team of North American-based equity research analysts. She has served as chair of Morningstar’s Economic Moat committee, a group of senior members of the equity research team responsible for reviewing all Economic Moat and Moat Trend ratings issued by Morningstar.

Morningstar is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. To find out more about Morningstar’s approach to stock investing and receive a free trial of our research, visit:

should investors buy that business to maximize return?

Using fundamental moat and valuation analysis has led to superior risk-adjusted returns and made Morningstar analysts some of the industry’s top stock-pickers. In this book, Morningstarshares the ins and outs of its moat-driven investment philosophy,which readers can use to identify great stock picks for their own portfolios.


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