he securities industry, its markets, instruments (equity, debt, derivatives), trading strategies, underlying economic models, and future.

...r to national, export-orientated firms. The free cash flow of a firm that is debt-financed solely by its shareholders belongs solely to them. Free... ...r management and, especially, the management echelons, which directly deal with the finances of the firm. 1. To regulate, supervise and implement a... ...xymoron - the "earnings yield" - perpetuated? According to all current theories of finance, in the absence of dividends - shares are worthless. The... ... inferences are supported by the work of other scholars, such as Paul Weller of the Finance Department of the university of Iowa. While he admits th... ...stment banks discredited, privileged access to information by analysts prohibited, derivatives proliferate, individual participation in the stock m... ...rkets repeatedly failed to price assets correctly. From commodities to stocks, from derivatives to houses, and from currencies to art prices gyrate ... ...ons and swaps (CDOs and CDSs), munis (municipal bonds), commercial paper, mortgage derivatives, interbank lending. Attempts by central banks to inj... ...investment banks were brought down by hyper- leveraged investments in ill-understood derivatives. As stock exchanges plummeted, the resulting devasta... ...he state would, therefore, do well to regulate all financial instruments: deposits, derivatives, contracts, loans, mortgages, and all other deeds th...

The securities industry, its markets, instruments (equity, debt, derivatives), trading strategies, underlying economic models, and future.