Dirk Willer Ram Bala Chandran Kenneth Lam - Trading Fixed Income and Fx in Emerging Markets

89,71 €

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Praise for Trading Fixed Income and FX in Emerging Markets "This book is required reading for practitioners, policy makers, and economists who want to understand Emerging Market investments. It is authoritative, comprehensive, and careful. I greatly enjoyed every chapter." --Tobias Adrian, Financial Counsellor to the Managing Director, Director of Monetary and Capital Markets department, IMF "A must-read book not only for those trading fixed income or FX in emerging markets but for all those interested in how EM financial markets actually work. I didn't know how little I knew until I read this." --Prof. Willem Buiter, CBE, FBA, Visiting Professor of International and Public Affairs at Columbia University, former MPC member at the Bank of England and Chief Economist at Citi "In this timely book, the authors draw on a combined four decades of experience in emerging markets to deliver on a provocative promise: to make their readers 'better portfolio managers and risk takers.' The one surefire key to success in their field, they contend, is to combine conviction with a solid data-driven trading methodology. As a bonus, they provide an insightful discussion of the impacts of policy on the evolution of these markets from a practitioner's perspective. A valuable must-read for anyone with an abiding interest in this fascinating field." --Michael L. Corbat, CEO, Citi "Academic literature alone will often prove insufficient for investors trying to navigate the complexities of emerging markets investing given the pervasive tensions between economics and politics. Dirk's and his co-authors' book addresses directly those traditional shortcomings by walking the reader through real-life examples of how experienced market practitioners attempt to maneuver portfolios in fluid market environments. A fine read from a distinguished emerging markets practitioner, I would recommend this book to analysts and experienced market professionals alike." --Pramol Dhawan, Head of Emerging Markets, Pimco "Emerging markets are replete with opportunities and never dull. This book dives deep into all aspects of investing from USD debt to local rates to FX markets. Trading Fixed Income and FX in Emerging Markets is a necessary handbook for all investors in the emerging markets." --Sam Finkelstein, Co-CIO, Fixed Income and Co-head, Emerging Markets, Goldman Sachs Asset Management "Even seasoned professionals can benefit from this thorough and well-researched book that distilled a lifetime of data-based learning from one of the industry's best." --Robert Gibbins, CIO and Founder, Autonomy Capital "There is an old saw about investing in EM that EM is where once-in-a-life opportunities routinely come about every few months. Investing in EM requires not only a thorough grasp of macroeconomics; it requires a keen appreciation for macro political realities and a continuous re-assessment of institutional checks and balances in the system. The propensity to borrow heavily in external markets, both in hard and local currency, to offset weak domestic savings adds extra vulnerabilities. This book will be extremely valuable to navigate this challenging terrain. Dirk Willer et al. are seasoned practitioners and this book is excellent and well-researched." --Hari Hariharan, Chairman and CEO, NWI Management "Dirk, Ram and Ken walk their readers through the key characteristics of the emerging markets and present convincing evidence of what global and local conditions really matter for trading these markets. They have created a set of actionable and insightful analogues to demonstrate how to successfully trade these markets in different phases of the global cycle, and how best to deal with the inevitable idiosyncratic surprises delivered by the emerging markets. For a market buff, it was the perfect tonic!" --Paul Tudor Jones II, CIO and Founder, Tudor Investment Corp. "This book contains many insights into the dynamics of emerging market currencies and fixed-income instruments and should be required reading for traders, policymakers, and academics involved in this exciting field." --Prof. Andrew Lo, Professor at MIT Sloan School of Management, Chairman Emeritus AlphaSimplex Group "This is a rare book. Not only is it essential reading for portfolio managers and traders in the EM space, but it is also extremely useful for central bankers and other policy makers. Among others, it provides relevant insights on the impact of global financial conditions -particularly actions by the Fed-on EM rates and foreign exchange and on the ability (and restrictions) of central banks to conduct independent monetary policy" --Prof. Guillermo Ortiz, Chairman Latin America x Brazil, BTG Pactual, former governor of the Central Bank and Secretary of Finance and Public Credit, Mexico "This book is required reading for both novices and emerging market experts. The authors offer invaluable lessons not only for EM traders and portfolio managers, but also for economists, policy makers and academics. The book is very thoroughly researched and, no doubt, will become the gold standard for emerging market fixed income." --Prof. Nouriel Roubini, Professor at the Stern School of Business, NYU, and Host of NourialToday.com