Product Description

In this entertaining and thoughtful book, Gerald Ashley  sets out to explain what trading is, and lays out a modus operandi for being a  trader and investor. He draws upon market anecdotes and examples from the past,  seeking to debunk many myths surrounding financial markets, and to try and make  the reader understand the real processes, risks and rewards that drive  investment.

In particular he examines ideas in market and individual investor behaviour,  and questions the usefulness of many of todays standard investment  techniques including benchmarks, charts, analysts and ′gurus′. He also lays out  simple precepts for understanding investment risk and suggests ideas for  managing your investments in today′s markets.

Product Details

• Amazon Sales Rank: #818898 in Books
• Published on: 2003-04-04
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 180 pages

Dr Jackie H. Harvey, Department of Accounting and Financial Management, Newcastle Business School
"A wonderful book that will be perfect for injecting a little 'reality' into the student learning experience"

From the Inside Flap
Trading: it’s easy to explain, but not necessarily easy to do.

In this entertaining and thoughtful book, Gerald Ashley sets out to explain what trading is, and lays out a modus operandi for the investor and trader. He draws upon personal experiences, market anecdotes and examples from the past, seeking to debunk the many myths that surround the financial markets, and tries to help the reader understand the processes, risks and rewards. He provides simple explanations of financial markets and risk assessment, and shows how the reader can assess and learn from market cycles and rhythms.

In particular he explains:

• how individual investor behaviour and market behaviour can intertwine to give unexpected outcomes;
• the basic building blocks of finance;
• the subtle relationships between price , time and volatility;
• how news, opinion and rumours drive the market;
• four simple curves that can help the reader judge and measure risk and reward;
• why there should be healthy scepticism of economic experts, forecasters, performance statistics, benchmarks and market gurus;
• some core characteristics of financial markets that are often overlooked;
• how there is nothing new in finance – and that we ignore market history at out peril;
• strategies for managing investments and trading in today’s financial markets.

From the Back Cover
"If one adds Gerald Ashley′s innovative thinking to his track record as a successful trader and his wealth of experience in central banking, this book makes compulsive reading!"

David Buik, Cantor Index

"I would take issue with some of the author’s comments about economists and technical analysts. But that said, by stripping back the markets to their basic essentials this book does an excellent job in explaining the core elements of investment and its associated risks to the inexperienced investor."

Deborah Owen, Investment Research of Cambridge

"A bang up–to–date journey through the issues that influence and affect dealing in today′s marketplace. Whether you are searching for the elusive snake oil of investment success, or simply to improve your understanding of markets, Gerald Ashley has produced an insightful, entertaining book that will help develop your knowledge.

Clive Turner, Bullion Banker

Customer Reviews

The last thing a financial salesperson wants published!
Most books on finance fit into one of 3 categories

1. For beginners - a list of products and markets and how they are used
2. For the experts – “how to mathematically model everything” or “what the
rules and regulations are”.
3. The 'I'm the greatest, do it my way' theme of (auto-) biographies.

But here is a book that neatly bypasses these genres and combines the author’s vast experience inside the markets to explain the core elements of finance. It also manages to slaughter many of the 'sacred cows' of financial experts, fund managers, chartists, economists, regulators and central bankers. This book will give you an honest and thoughtful view of what makes, and more importantly, what doesn’t make, the markets tick. You won't see any of this on business TV or read it in the newspapers!

The author writes in a wry, easy going and witty style with some fascinating examples from the past, that he neatly folds into the present day financial scene.

A worthwhile read for anyone trying to get to the heart of finance and understand what really makes markets move.

Everything that the markets don't want you to know
I really enjoyed this clever and enlightening book about the markets.

Most books on finance fit into one of 3 catagories

1. For beginners - a list of products and markets and how they are used
2. For the experts - how to mathematically model everything or what the rules and regulations are.
3. The 'I'm the greatest, do it my way' theme of (auto-)biographies.

But here is a book that neatly bypasses these genres and combines the authors vast experience inside the markets to explain the core elements of finance, and slaughters many of the 'sacred cows' about financial experts, economists and chartists. It tells the true story about markets you won't see on business TV or read in the newspapers.

The author writes in a wry, easy going and witty style with some fascinating examples from the past, that he neatly folds into the present day financial scene.

A worthwhile read for anyone trying to get to the heart of finance and how markets really operate.