You are your stuff! This book is about embracing everything you own and showing it off on your walls. Whatever your taste, it's about celebrating the beautiful, the eccentric, the simple.
Attempting to reveal the real causes of the 1929 stock market crash, Bierman refutes the popular belief that wild speculation had excessively driven up stock market prices and resulted in the crash. Although he acknowledges some prices of stocks such as utilities and banks were overprices, reasonable explanations exist for the level and increase of all other securities stock prices. Indeed, if stocks were overpriced in 1929, then they more even more overpriced in the current era of staggering growth in stock prices and investment in securities. The causes of the 1929 crash, Bierman argues, lie in an unfavorable decision by the Massachusetts Department of Public Utilities coupled with the popular practice known as debt leverage in the 1920s corporate and investment arena. This book extends Bierman's argument in an earlier book, The Great Myths of 1929 and the Lessons to Be Learned (Greenwood, 1991), in which he discussed and refuted seven myths about 1929 but could not explain the crash. He now believes he has a reasonable explanation. He also examines the actions of Charles E. Mitchell and Sam Insull and their subsequent unjust criminal prosecution after the crash of the 1929 stock market.
This pioneering book describes the applications of agent-based modeling to financial markets. It presents a new paradigm for finance, where markets are treated as complex systems whose behavior emerges as a result of interactions of market participants, market institutions, and market rules. This includes both a presentation of the conceptual model and its software implementation. It also summarises the result of the profound research on the successful practical application of this new approach to answer questions regarding the Nasdaq Stock Market's decimalization that was implemented in 2001. The book presents conceptual foundations for modeling markets as complex systems. It describes the agent-based model of the Nasdaq stock market, including strategies used by market-makers and investors, market participants interactions, and impacts of rules and regulations. It includes analyses of simulation behavior, comparison with the behaviors observed in the real-world markets (existence of fat tails, spread clustering, etc.), and predictions about possible outcomes of decimalization. A framework for calibrating the market behavior and individual market-makers strategies to historical data is also presented.
With big changes coming in the author's life, he explores options that he has learned from previous novels in order to make the right decisions. 2 pathways lie in front of him, and one of the pathways lies in the hands of others. It's difficult to go on alone, so the author brings up ideas from his time with his father and in-laws. Technology is also changing and influencing everything, so the author brings in the essence of how technology influences the actions of a human being and how the human being in return affects technology. This third volume to A collection of Essays is the best one written yet. With introductions to novels by Aldous Huxley, Kazuo Ishiguro, and George Saunders, the author brings all three themes of change and technology into one message.
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