Developed from the long-running, successful pocket series, this new Economist essential A-Z series is launched in Spring 2003 in a strikingly attractive paper back format, with flaps and distinctive red end papers. Following an introduction on the dramatic changes that have taken place in the financial world and the immense influence the financial markets have over our lives, the bulk of the book contains an extensive A-Z containing several hundred entries that explain with clarity and a healthy dose of irreverence the most important and interesting - things you need to know about the world of finance - as well as some of its more odd and inconsequential aspects. Entries include:Acceptance, Advance ratio, Allfinanz, Beta, Balloon, Blend fund, Bunny bond, Capital adequacy, Clean price, Compensating balance, Debt service ratio, Disintermediation, EBITDA, Efficient market theory, Fannie Mae, Flight capital, Gearing, Grey market, Hedge Fund, Hurdle rate, In the money Junk Kaffir, Kerb trading, Leverage, LIBOR, Liquidity, Margin call, Mezzanine finance, Narrow market, Net present value, Off balance sheet, Old lady, Open end fund, Over the counter, Parity paid, Ponzi scheme, Programme trading, Random walk, Redemption yield, Samurai bond, SEAQ, Shadow accounting, Special purpose vehicle, Tender offer, Tombstone, Triple witching hour, Underweight, Use of funds, Value investing, Volatility, Warehousing, Working capital, Yield to maturity, Zero-coupon bond. Also included as appendices are * A raft of facts and figures about the financial markets.
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About the Author
Nigel C. Gibson is Director of the Honors Program at Emerson College, Boston, and a research associate in the Department of Africana Studies at Brown University and the Department of Afro-American Studies at Harvard University.
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5.0 out of 5 stars
Handy, Well-written, Introductory Reference,
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This review is from: Essential Finance (Paperback)
One of the essential features of the modern global market economies are the highly advanced and sophisticated finance sectors of the economy. The modern financial markets are a far cry form their eighteenth and nineteenth predecessors, and even the early twentieth century financiers would probably have a hard time grasping all the ins and outs of the financial systems that are in place right now. It is no wonder then that the general public is baffled with the incredibly complex world of finance and for the most part has only the vaguest idea of how it operates. This state of affairs often leads to misconceptions and oftentimes downright invidious view of what it is that the financial institutions do. For instance, it is hard to read an article about finance in some segments of the media where the word "greed" or its cognates don't feature prominently. This mindset can be downright dangerous when it informs the electorate about the policy decisions. There is a real need for higher level of literacy about finance, and "Essential Finance" by The Economist journalist and writer Nigel Gibson is an excellent concise introduction to the basic financial terms and ideas.
This book is not written as a textbook, but as dictionary of essential financial terms. Thus the aim of the book is not to present a unified overarching explanation of finance, but rather to inform the reader about those financial terms and ideas that he may find useful or relevant at any particular point. Nonetheless, the book is written in a very crisp, legible style and it could be read cover-to-cover. Most terms are cross-referenced and this makes it easy to find connections between various concepts. Finance is a very rapidly evolving field, and the book is a bit dated because of that, but it can still be used for basic information. The format of this book is also very compact and accessible, and it can be used as a quick first reference. Even in the day when most of this information can be easily found online, there is something to be said for a handy physical reference.
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