Bloomberg Series

A timely guide to overcoming the retirement challenges we all face The Great Recession has placed a wake-up call to America's baby boomers. Many have not saved enough for retirement and have not taken a hard look at how many post-work years they may need to finance. Written in a straightforward and accessible style, The Hard Times Guide to Retirement Security tackles the tough questions about retirement in the new post-crash economy. Page by page, it puts retirement in perspective by touching on important issues such as insuring against the risk of outliving your assets, recalibrating damaged retirement portfolios, managing the risk of health-care expenses in retirement, and career strategies for workers who are 50 years old and up. Reveals how to boost lifetime income through better planning, and working just a few additional years Offers advice on how to hire a financial advisor whose first loyalty is to you, not Wall Street Discusses why you should rethink housing in the wake of the real estate crash Offers detailed advice on career reinvention, the 50+ job market and midlife entrepreneurship Engaging and informative, this practical guide provides the strategies needed for a truly fulfilling and secure retirement.

Art and finance coalesce in the elite world of fine art collecting and investing. Investors and collectors can’t protect and profit from their collections without grappling with a range of complex issues like risk, insurance, restoration, and conservation. They require intimate knowledge not only of art but also of finance. Clare McAndrew and a highly qualified team of contributors explain the most difficult financial matters facing art investors. Key topics include: Appraisal and valuation Art as loan collateral Securitization and taxation Investing in art funds Insurance The black-market art trade Clare McAndrew has a PhD in economics and is the author of The Art Economy. She is considered a leading expert on the economics of art ownership.

An incisive look at the consequences of today's costly and damaging suburban lifestyle In The Cul-de-Sac Syndrome, Bloomberg News' John Wasik exposes the economic, cultural, environmental, and health problems underlying life in suburbia. Wasik provides powerful insights into how the U.S. suburban lifestyle has become unsustainable and what can be done to salvage it. His observations are firmly grounded in exclusive on-the-ground research, interviews with thought leaders, and the latest studies and statistics. The book Exposes the untold truths about suburban home ownership: green isn't always so green, life isn't cheaper after accounting for gas, water, and taxes, and modern suburban living isn't so idyllic considering the toll it takes on our health Includes exclusive research and analysis by experts in the field that debunks the many myths associated with suburban living Explores innovative solutions being developed in cities across the country The American Dream of moving further from a city to buy a bigger house and find better schools has become a costly nightmare. The Cul-de-Sac Syndrome examines why and what can be done.

The marketer's guide to standing out from the crowd and connecting with consumers As advertisements become more ubiquitous online and off, the struggle to really capture a customer's attention is heating up. In Steal These Ideas!, Second Edition, Steve Cone, internationally renowned marketing expert, reveals how to resonate with a target audience, providing a fresh perspective riddled with pearls of wisdom and wit. Full of practical ideas that the reader can learn in a matter of hours, and apply successfully to their business for years, Steal These Ideas! proved an instant classic on outside-the-box marketing when it first published in 2005, and this newly revised edition, refreshed for the present day, promises to have the same impact as it's predecessor. This new edition includes material on social networking, customer loyalty campaigns, building websites, and sending effective email blasts The book is illustrated throughout with examples of the good, bad, and ugly in advertising Includes new ideas on how to take full advantage of online marketing and social media Highlights the art of building an effective loyalty program, the power of public relations and sponsorship, and using a spokesperson Author Steve Cone is the Executive Vice President of AARP Everything you didn't learn in business school (or in the field), Steal These Ideas! gives marketers the edge in today's fast-paced, oversaturated marketplace.

The truth behind the greatest environmental disaster in U.S. history In 2005, fifteen workers were killed when BP's Texas City Refinery exploded. In 2006, corroded pipes owned by BP led to an oil spill in Alaska. Now, in 2010, eleven men drilling for BP were killed in the blowout of the Macondo well in the Gulf of Mexico. What's next? In In Too Deep: BP and the Drilling Race That Took it Down, Stanley Reed?a journalist who has covered BP for over a decade?and investigative reporter Alison Fitzgerald answer not only that question, but also examine why these disasters happen to BP so much more than other large oil companies. Places the blame on a corporate culture created by former BP CEO John Browne who was forced to resign in 2007 after he lied in court documents in a case involving his gay lover Details a BP built on risk-taking and cost-cutting Examines the past, present, and future of BP In August 2010, BP successfully "killed" the company's damaged deepwater well. But, the environmental fallout and public relations campaign to rebuild the brand are just beginning. In Too Deep details why BP, why now, and what's next for this oil giant.

The final word on passive vs. active investing The debate on active investing-stock picking and market timing-versus passive investing-markets are highly efficient and almost impossible to outperform-has raged for decades. Which side is right? In The Quest for Alpha: The Holy Grail of Investing, author Larry E. Swedroe puts an end to the debate, proving once and for all that active investing is likely to prove futile as the associated expenses-costs, fees, and time spent analyzing individual stocks and the overall market-are likely to exceed any benefits gained. The book Presents research, data, and quotations that reveal it's extremely difficult to outperform the market Explains why investors should focus on asset allocation, fund construction, costs, tax efficiency, and the building of a globally diversified portfolio that minimizes, if not eliminates, the taking of idiosyncratic, uncompensated risks Other titles by Swedroe: The Only Guide to Alternative Investments You'll Ever Need and The Only Guide You'll Ever Need for the Right Financial Plan Investors are on a never-ending search for a money manager who will deliver returns above the appropriate risk-adjusted benchmark, aka the "Holy Grail of Investing." The Quest for Alpha demonstrates that it's a loser's game-while it's possible to win, it's so unlikely that you shouldn't try.

Completely revised and updated edition of this very popular and successful small business book The first edition of 201 Great Ideas for Your Small Business was hailed by management guru and author Tom Peters as "Brilliantly researched. Brilliantly written. A gem of priceless value on almost every page. Read. Inhale. Absorb. Great Stuff!" In this completely updated third edition of 201 Great Ideas for Your Small Business, renowned small-business expert and consultant Jane Applegate shares new, powerful, creative, simple, and proven approaches for building a better small business. Details how business owners can use online marketing and social networking more effectively Offers timely strategies for thriving in challenging economic times Includes scores of real-life success stories and all-new interviews with small-business owners, experts, and VIP's including Guy Kawasaki, Kay Koplovitz, and Michael Bloomberg It may be small, but your business is a big deal to you, your customers, and employees. 201 Great Ideas provides lively, practical strategies to help you manage, grow, and promote your business.

An informative primer on the new landscape of leading prime brokers Before the recent financial crisis, both regulators and market participants disregarded the complex and dangerous nature of the relationship between prime brokers (the banks) and their clients (the funds). In When Prime Brokers Fail, J. S. Aikman examines the convoluted structure of this relationship, the main participants, and the impact of the near collapse of prime brokerages on the financial world. Filled with in-depth insights and expert advice, When Prime Brokers Fail takes a close look at the unheeded risks of prime finance and lays out the steps required for managers to protect their funds and bankers to protect their brokerages. Examines the challenges, trends, and risks within the prime brokerage space Discusses the structural adjustments firms will need to make to avoid similar disasters Analyzes the complex relationship between hedge funds and their brokerages and the risks that multiply in extraordinary markets Covers new ways to manage an inherently risky business and the regulations that may soon be introduced into this arena Engaging and informative, this timely book details the intricacies and interdependencies of prime brokerages and the role that these operations play in our increasingly dynamic financial system.

What's driving the burgeoning global Chinese family businesses? Chinese family businesses are the driving force behind Asia's economic prosperity. As the world becomes more global they have had to adapt to the new environment. This timely book draws on an extensive regional survey to reveal the key players and the strategies that will drive their success going forward. The book discusses and analyzes the business life and achievements of some prominent overseas Chinese family businesses in Asia and reveals their life philosophies, their business journey, and their family role in business. Includes analysis regarding how the senior Chinese generations prepare their children to run the business in the future Reveals that flexibility, ability to adapt to changing business environments, and resilience contribute to the success of many overseas Chinese family businesses Offers illustrative examples of successful family businesses from Malaysia, Indonesia, The Philippines, and China Based in solid research and filled with illustrative examples, The Dragon Network offers an inside look at how family businesses succeed and thrive in Asia.

An in-depth look at the problems surrounding zombie banks and their dangerous effect on the global economy “The title is worthy of a B movie, but it's also apt. Bloomberg News reporter Yalman Onaran, supported by former U.S. Federal Deposit Insurance Corp. chief Sheila Bair - who provides a foreword and numerous interviews - urge that insolvent banks both small and too big to fail be allowed to do precisely that.  Reading bank balance sheets is not everyone's idea of a good time. But Mr. Onaran, with support from Ms. Bair, does the chore and explains what it means.  Mr. Onaran shows that the process of rescuing dead and dying banks is increasing systemic risk in the global banking system. And that is really more frightening than scream flicks from Tinseltown.”  -- Financial Post “Yalman Onaran knows of putrid financial institutions, having written about them in his native Turkey so successfully he brought down a few in Istanbul in the late '90's.” -- Huffington Post “Do We Love Zombie Banks? The new book by Yalman Onaran of Bloomberg News, Zombie Banks: How Broken Banks and Debtor Nations Are Crippling the Global Economy, is a well-organized and clearly written discussion of the use of leverage to provide growth in many different economies. Onaran has carefully researched the zombie phenomenon and makes some important points in this concise volume about both public policy and the concerns of investors. One of the more interesting early threads in the book is the juxtaposition of the experience of the US in the S&L crisis and Japan in the 1980s and 1990s with the US today. Zombie Banks is a good review of the latest thinking about the ebb and flow of the political economy.” -- R. Christopher Whalen, author of Inflated Zombie banking has become standard operating procedure for big debtor nations. They prop up failing institutions, print money, and avoid financial corrections. But in an attempt to prolong the inevitable, bigger problems are created. The approach used now has not, and will not, work. This timely book reveals why. Zombie Banks tells the story of how debtor nations and failing institutions are damaging the long-term prospects of the global economy. Author Yalman Onaran, a veteran Bloomberg News reporter and financial banking sector expert, examines exactly what a zombie bank is and why they are kept alive. He also discusses how they hurt economic recovery and what needs to be done in order to restore stability. Along the way, Onaran takes an honest look at how we arrived at this point and details the harsh realities that must be faced, and the serious steps that must be taken, in order to get things headed in the right direction. Puts insolvent banks and debtor nations in the spotlight and examines how they are crippling the global economy On the record sources include Paul Volcker, Joseph Stiglitz, Sheila Bair, and many more bank executives, regulators, politicians, and policymakers in the United States and abroad Takes the complexity of the current situation and translates it in a way that makes it understandable While the short-term measures taken to stave off depression and rejuvenate economic growth may offer hope, they are unsustainable over the long term. Get a better look at what really lies ahead, and what it will take to improve our economic situation, with this book.

The new Fourth Edition of the definitive handbook on investing in Real Estate Investment Trusts (REITs) Real Estate Investment Trusts (REITs), which provide some of the best total returns in the investment world, along with above-average dividend yields and stable earnings, have become increasingly popular with both individual and institutional investors. Investing in REITs, Fourth Edition has established itself as the definitive guide to understanding this attractive asset class. The book is invaluable for investors, financial planners, and investment advisers interested in understanding REITs and REIT investment opportunities. As their earnings and dividends are beginning to grow again after the Great Recession—and as they are in a unique position to take advantage of distressed sale opportunities—now is an excellent time for investors to consider REITs for both diversification and strong total returns. The new edition covers: A comprehensive history of the REIT industry How REITs compare with other competitive investments How to spot blue-chip REITs and control investment risk How to value individual REIT stocks, and REIT shares generally How to build a diversified REIT portfolio, directly or with REIT mutual funds Understanding the risk-and-reward dynamics of commercial real estate Assessing non-US REITs and how to invest in them Important new developments and strategies in the REIT industry Author Ralph L. Block, who has been investing in REIT stocks for 40 years and is widely considered a leading authority on REITs, brings the historical success of Investing in REITs right up to date. This book is an essential read for both individuals and institutions who desire to invest in commercial real estate through REIT stocks.

Inside the engine-room of China's economic growth—the China Development Bank Anyone wanting a primer on the secret of China's economic success need look no further than China Development Bank (CDB)—which has displaced the World Bank as the world's biggest development bank, lending billions to countries around the globe to further Chinese policy goals. In China’s Superbank, Bloomberg authors Michael Forsythe and Henry Sanderson outline how the bank is at the center of China's domestic economic growth and how it is helping to expand China's influence in strategically important overseas markets. 100 percent owned by the Chinese government, the CDB holds the key to understanding the inner workings of China's state-led economic development model, and its most glaring flaws. The bank is at the center of the country's efforts to build a world-class network of highways, railroads, and power grids, pioneering a lending scheme to local governments that threatens to spawn trillions of yuan in bad loans. It is doling out credit lines by the billions to Chinese solar and wind power makers, threatening to bury global competitors with a flood of cheap products. Another $45 billion in credit has been given to the country's two biggest telecom equipment makers who are using the money to win contracts around the globe, helping fulfill the goal of China's leaders for its leading companies to "go global." Bringing the story of China Development Bank to life by crisscrossing China to investigate the quality of its loans, China’s Superbank travels the globe, from Africa, where its China-Africa fund is displacing Western lenders in a battle for influence, to the oil fields of Venezuela. Offers a fascinating insight into the China Development Bank (CDB), the driver of China's rapid economic development Travels the globe to show how the CDB is helping Chinese businesses "go global" Written by two respected reporters at Bloomberg News As China's influence continues to grow around the world, many people are asking how far it will extend. China’s Superbank addresses these vital questions, looking at the institution at the heart of this growth.

Inside the Trillion Dollar Industry That Owns Everything What do Dunkin' Donuts, J. Crew, Toys "R" Us, and Burger King have in common? They are all currently or just recently were owned, operated, and controlled by private equity firms. The New Tycoons: Inside the Trillion Dollar Private Equity Industry That Owns Everything takes the reader behind the scenes of these firms: their famous billionaire founders, the overlapping stories of their creation and evolution, and the outsized ambitions that led a group of clever bankers from small shops operating in a corner of Wall Street into powerhouse titans of capital. This is the story of the money and the men who handle it. Go inside the private worlds of founders Henry Kravis, Steve Schwarzman, David Bonderman, and more in The New Tycoons, and discover how these men have transformed the industry and built the some of the most powerful and most secretive houses of money in the world. With numerous private equity firms going public for the first time, learn how these firms operate, where their money comes from and where it goes, and how every day millions of customers, employees, and retirees play a role in that complex tangle of money Author Jason Kelly tells the story of how thirty some years ago a group of colleagues with $120,000 of their own savings founded what would become one of the largest private equity shops in the world, completing the biggest buyout the world has ever seen, and making them all billionaires in the process Presents a never-before-seen look inside a secretive and powerful world on the verge of complete transformation as the industry and its leaders gain public profiles, scrutiny, and political positions Analyzing the founders and the firms at a crucial moment, when they've elevated themselves beyond their already lofty ambitions into the world of public opinion and valuation, New Tycoons looks at one of the most important, yet least examined, trillion-dollar corners of the global economy and what it portends for these new tycoons.

An in-depth look at the failure of Wall Street's "proven" financial models Origami is the Japanese art of folding paper into intricate and aesthetically attractive shapes. As such, it is the perfect metaphor for the Wall Street financial engineering model, which ultimately proved to be the underlying cause of the 2008 financial crisis. In Financial Origami, Brendan Moynihan describes how the Wall Street business model evolved from a method to transfer risk into a method for manufacturing risk. Along the way, this timely book skillfully dissects financial engineering and addresses how it's often a mechanism to evade regulatory constraints, provide institutional investors with customized products, and, of course, generate revenue for financial engineers. Reveals how Wall Street's financial engineering business model morphed into something destructive Highlights how the origami model worked well in the comparatively stable years of the early 2000s, when there was less risk to transfer Discusses how Wall Street began manufacturing risk by creating products that multiplied risk exposures and encouraged subprime lending With the collapse of Lehman Brother the Wall Street business model effectively broke. But there are many lessons to be learned from what has transpired, and Financial Origami will show you what they are.

Updated edition of the established classic on investing in bonds In Bonds: The Unbeaten Path to Secure Investment Growth, Second Edition, the fully revised and updated edition of the classic guide to demystifying the bonds market, veteran investor husband and wife team Hildy and Stan Richelson expose the myth of stocks' superior investment returns and propose an all-bond portfolio as a sure-footed strategy that will ensure positive returns. Designed to educate novice and sophisticated investors alike, as well as to serve as a tool for financial advisers, the book explains why and when bonds can be the right choice. Case studies, detailed bond strategies, and a financial planning overview bring home the value of bonds in achieving financial goals. Presenting a broad spectrum of bond-investment options, and describing how to purchase bonds at the best prices, the book shows how to make real money by investing in bonds. The strategies presented here are designed to help the reader determine how to use bonds to take control of their own financial destiny. New edition includes information on corporate bonds, emerging market bonds, municipal bonds, the new global ratings, and how to protect against municipal defaults Looks at how bond portfolios protected against market volatility in the 2007-2008 crash and how they can do the same in the future Includes information on how the bond market has changed The wealthiest investors and financial advisers use the bond strategies outlined in this book to maximize the return on their portfolios while providing security of principal With more bond options available than ever before, Bonds continues to be a must-have for anyone looking to understand the investment opportunities available to them.

How to understand the twenty-first century food crisis Since 2007, farm-product prices have rocketed and plunged, causing hunger, malnutrition, and social and political upheaval around the world. Endless Appetites explores how "food security," the availability of food and the reasonable ability to buy it, has become one of the most challenging topics of our time. With every jump in grocery-store prices, the issue becomes more and more pressing, proven by this year's record increase in food prices, which has already topped the spike of 2008. Award-winning commodities reporter Alan Bjerga explains the food crisis and why it is happening in an accessible, articulate manner Why is this happening when more food is being grown than ever? Why are crop markets?first established in the 1800's to help stabilize agricultural commodity prices?acting like an investors' casino, with prices absorbed by rich nations taking food from the mouths of the poor? From college campuses to emergency UN meetings, "food security" is one of the hottest topics of the day, with no shortage of interest in how to stabilize food prices worldwide to close the hunger gap To understand the growing international food crisis, readers need an expert they can rely on. One of the most widely acclaimed journalists on food security, Alan Bjerga is up to the task, taking readers from the trading floor of Chicago to the highlands of East Africa to the rice paddies of Thailand on a global trek to find the causes of the food-price crisis?and the solutions.

An insightful and practical guide to family trusts Family Trusts is a step-by-step guide for anyone involved in family trusts: trust creators, trustees, beneficiaries, and advisors. It will help families create and administer a culture that recognizes trusts as a gift of love. Marrying the practical and emotional aspects of family wealth, this book provides a hands-on primer that focuses on fostering positive relationships, and structuring the trust appropriately for the situation and the people involved. It tackles difficult topics with frank and honest discussion, from the first beneficiary meeting to working with addictions, and more. Written by a team of experts in family wealth, this information is becoming increasingly crucial to the successful execution of a trust; you'll learn what type of person makes the best trustee, how to be an excellent beneficiary, and the technical aspects that help you build a better trust from the very beginning. There's been a staggering increase in trustee/beneficiary litigation and hostility, but that doesn't mean it's inevitable. Plenty of trusts are running smoothly, with positive experiences on all sides. This book shows you how to set up your trust to succeed from the start, with step-by-step guidance and expert insight. Express clear and thoughtful intent for the trust Create a healthy and supportive culture Select the right trustee, trust protector, and trust advisor Take the time to prepare before initially meeting the beneficiary Conduct a productive first meeting to set a tone for the relationship Historically, there has been little consideration given to the culture of trusts, and this oversight may be a key driver of the behavior that's becoming more prevalent. Family Trusts explores the nature of these relationships, and shows you how to build a trust that retains the nature and spirit with which it was intended.

"The first thing you think is where's the edge, where can I make a bit more money, how can I push, push the boundaries. But the point is, you are greedy, you want every little bit of money that you can possibly get because, like I say, that is how you are judged, that is your performance metric" —Tom Hayes, 2013 In the midst of the financial crisis, Tom Hayes and his network of traders and brokers from Wall Street's leading firms set to work engineering the biggest financial conspiracy ever seen. As the rest of the world burned, they came together on secret chat rooms and late night phone calls to hatch an audacious plan to rig Libor, the 'world's most important number' and the basis for $350 trillion of securities from mortgages to loans to derivatives. Without the persistence of a rag-tag team of investigators from the U.S., they would have got away with it.... The Fix by award-winning Bloomberg journalists Liam Vaughan and Gavin Finch, is the inside story of the Libor scandal, told through the journey of the man at the centre of it: a young, scruffy, socially awkward misfit from England whose genius for math and obsessive personality made him a trading phenomenon, but ultimately paved the way for his own downfall. Based on hundreds of interviews, and unprecedented access to the traders and brokers involved, and the investigators who caught up with them, The Fix provides a rare look into the dark heart of global finance at the start of the 21st Century.

The world's most comprehensive guide to international pressfreedom Every day, journalists around the world face incrediblerisks—from imprisonment and assassination to simply just"disappearing"—all for the ethical practice of theirprofession. Caught between wars and uprisings and corrupt policeand drug cartels, as well as increasingly oppressive censorshiplaws, they find themselves in some of the most dangerous situationsimaginable. This is why the Committee to Protect Journalists (CPJ)continues to create the annual edition of Attacks on thePress. Started as a simple typewritten list over 25 years ago, thisreliable resource has grown to become the definitive annualassessment of press freedoms globally. It provides analyses ofmedia conditions, press freedom violations, and emerging threats tojournalists in every corner of the world. In this 2014 edition, you will find front-line reports andanalytical essays by CPJ experts covering an array of topics ofcritical importance to journalists Discusses how governments' capacity to store transactional dataand the content of communications poses a unique threat tojournalism in the digital age Addresses the hope for more freedom in Iran and how thepractical needs for communications technology may work in favor ofa freer press Examines the inability to solve journalist murders in areassuch as Colombia and why eliminating witnesses has become an alltoo easy, and effective, method of stymying justice In addition to being an invaluable source of timely informationand guidance for media professionals, Attacks on the Pressgives voice to journalists globally, providing them with a platformfor direct advocacy with governments and a tool for influence atthe UN, OAS, EU, AU, and other official bodies.

A rare analytical look at the financial crisis using simple analysis The economic crisis that began in 2008 revealed the numerous problems in our financial system, from the way mortgage loans were produced to the way Wall Street banks leveraged themselves. Curiously enough, however, most of the reasons for the banking collapse are very similar to the reasons that Long-Term Capital Management (LTCM), the largest hedge fund to date, collapsed in 1998. The Crisis of Crowding looks at LTCM in greater detail, with new information, for a more accurate perspective, examining how the subsequent hedge funds started by Meriwether and former partners were destroyed again by the lapse of judgement in allowing Lehman Brothers to fail. Covering the lessons that were ignored during LTCM's collapse but eventually connected to the financial crisis of 2008, the book presents a series of lessons for hedge funds and financial markets, including touching upon the circle of greed from homeowners to real estate agents to politicians to Wall Street. Guides the reader through the real story of Long-Term Capital Management with accurate descriptions, previously unpublished data, and interviews Describes the lessons that hedge funds, as well as the market, should have learned from LTCM's collapse Explores how the financial crisis and LTCM are a global phenomena rooted in failures to account for risk in crowded spaces with leverage Explains why quantitative finance is essential for every financial institution from risk management to valuation modeling to algorithmic trading Is filled with simple quantitative analysis about the financial crisis, from the Quant Crisis of 2007 to the failure of Lehman Brothers to the Flash Crash of 2010 A unique blend of storytelling and sound quantitative analysis, The Crisis of Crowding is one of the first books to offer an analytical look at the financial crisis rather than just an account of what happened. Also included are a layman's guide to the Dodd-Frank rules and what it means for the future, as well as an evaluation of the Fed's reaction to the crisis, QE1, QE2, and QE3.

What matters most in managing the family enterprise Complete Family Wealth is a comprehensive resource for growing, maintaining, and managing wealth across generations. A successor to the classic Family Wealth, now in its 20th year, this book provides updated and expanded guidance to change the way you think about your wealth and legacy. This team of expert authors—who brought the field not only Family Wealth but also Family the Compact, The Cycle of the Gift, The Voice of the Rising Generation, and Family Trusts—ground Complete Family Wealth in a clear account of the “five capitals”: human, intellectual, social, spiritual, and financial. The discussion covers the “what,” “who,” and “how” of family wealth management in clearly-delineated chapters that allow you to dip in as needed, from the principles of family enterprise to family governance, philanthropy, and more. Each family member plays a distinct role, and by exploring each member’s responsibilities in terms of the family enterprise, this book provides insights and ideas for real-world families struggling with all-too-common challenges. Growth-oriented practices today lead to generations of family flourishing in the future. This book provides the answers you need along with guidance and strategy for keeping your family’s complete wealth intact. Understand the five forms of capital that comprise “complete family wealth” Explore the roles of each family member in helping the family enterprise flourish Learn how friends, trustees, and advisors contribute to family wealth management Adopt specific practices that help families grow their complete wealth and ensure its survival through generations Family wealth can sometimes feel like more of a burden than a blessing. Developing the right understanding, character, and structures can improve family enterprise management and protect all your family’s capital from whatever the world throws your way. Complete Family Wealth is a one-stop reference for ensuring a positive legacy for future generations.

A detailed look at how economists shaped the world, and how the legacy continues Trillion Dollar Economists explores the prize-winning ideas that have shaped business decisions, business models, and government policies, expanding the popular idea of the economist's role from one of forecaster to one of innovator. Written by the former Director of Economic Research at Bloomberg Government, the Kauffman Foundation and the Brookings Institution, this book describes the ways in which economists have helped shape the world – in some cases, dramatically enough to be recognized with a Nobel Prize or Clark Medal. Detailed discussion of how economists think about the world and the pace of future innovation leads to an examination of the role, importance, and limits of the market, and economists' contributions to business and policy in the past, present, and future. Few economists actually forecast the economy's performance. Instead, the bulk of the profession is concerned with how markets work, and how they can be made more efficient and productive to generate the things people want to buy for a better life. Full of interviews with leading economists and industry leaders, Trillion Dollar Economists showcases the innovations that have built modern business and policy. Readers will: Review the basics of economics and the innovation of economists, including market failures and the macro-micro distinction Discover the true power of economic ideas when used directly in business, as exemplified by Priceline and Google Learn how economists contributed to policy platforms in transportation, energy, telecommunication, and more Explore the future of economics in business applications, and the policy ideas, challenges, and implications Economists have helped firms launch new businesses, established new ways of making money, and shaped government policy to create new opportunities and a new landscape on which businesses compete. Trillion Dollar Economists provides a comprehensive exploration of these contributions, and a detailed look at innovation to come.

Avoid "Shirtsleeves to Shirtsleeves" by Finding Your Voice Growing up in a family with significant wealth or a family business can often feel like an exercise in silence. What should you ask? Whom should you ask? When? Is it ever right to talk about such things? The Voice of the Rising Generation speaks directly to those who find themselves living in that silence, the so-called "next generation." Great wealth or a family business can act like a "black hole," sapping the dreams and aspirations of future generations who feel that they can never measure up to the fortune's founder. This book, written by a psychologist, an educator, and a wise counselor who single-handedly changed the landscape of family wealth, diagnoses with economy and precision the cause of entitlement and dependency. It is not too much money or too few chores. It is the failure of rising generations to individuate, that is, to pursue their dreams, develop their resilience, and find their voice. Many books are addressed to parents and grandparents who worry about the effects of wealth on their descendants. Almost alone in the field, this book speaks directly to 20-, 30- and 40-somethings, encouraging them—literally, giving them courage—to meet the challenge of integrating wealth's power into their lives, rather than disappearing into the black hole. Readers will: Come to understand the true causes of entitlement and dependency Identify the psychological characteristics of the rising generation and the challenges proper to its development Clarify their own dreams, work, and vocation Navigate personal relationships and communication within the context of wealth Recognize the special challenges faced when rising is delayed until mid-life. If you are a young person who is starting your life's journey and wondering about the effects of parental gifts, trusts, or a family business, this book will offer you questions, reflections, and lessons-learned to help you find your own way. If you are a parent, grandparent, elder, or mentor, The Voice of the Rising Generation can serve the young people in your life as a gift more precious than gold.

A comprehensive guide to giving well to family members Giving is at the core of family life--and with current law allowing up to $5,120,000 in tax-free gifts, at least through December 2012, the ultra-affluent are faced with the task of giving at perhaps largest scale in history. Beyond the tax saving and wealth management implications, giving to family members opens up a slew of thorny questions, the biggest of which is, "How do I prepare recipients of such large gifts?" With that question and others in mind, Hughes, Massenzio, and Whitaker have written The Cycle of the Gift in three main parts: "The Who of Giving," "The How of Giving," and "The What and Why of Giving." The first part focuses on the people most deeply involved in family giving, especially the recipients and givers (parents, grandparents, spouses, trustees). The second part, "The How of Giving," addresses the delicate balance of givers who want to maintain some level of control and recipients who want some level of freedom in accepting and growing their gifts. The final part, "The What and Why of Giving" describes various types of gifts, from money to business interests to values and rituals. The authors also introduce their "family bank" concept as a model that combines loans, trusts, and outright gifts. It embodies a framework and set of practices for long-term family growth. Even families without great wealth--or those who have already made large gifts to their children and grandchilren--can benefit from the human wisdom and practical advice found in The Cycle of the Gift.

An in-depth look at Japan's economic malaise and the steps it must take to compete globally In Japanization, Bloomberg columnist William Pesek—based in Tokyo—presents a detailed look at Japan's continuing twenty-year economic slow-down, the political and economic reasons behind it, and the policies it could and should undertake to return to growth and influence. Despite new Prime Minister Shinzo Abe's promise of economic revitalization, investor optimism about the future, and plenty of potential, Japanization reveals why things are unlikely to change any time soon. Pesek argues that "Abenomics," as the new policies are popularly referred to, is nothing more than a dressed-up version of the same old fiscal and monetary policies that have left Japan with crippling debt, interest rates at zero, and constant deflation. He explores the ten forces that are stunting Japan's growth and offers prescriptions for fixing each one. Offers a skeptical counterpoint to the popular rosy narrative on the economic outlook for Japan Gives investors practical and detailed insight on the real condition of Japan's economy Reveals ten factors stunting Japan's growth and why they are unlikely to be solved any time soon Explains why most of what readers believe they know about Japan's economy is wrong Includes case studies of some of the biggest Japanese companies, including Olympus, Japan Airlines, Sony, and Toyota, among others For many investors, businesspeople, and economists, Japan's long economic struggle is difficult to comprehend, particularly given the economic advantages it appears to have over its neighbors. Japanization offers a ground-level look at why its problems continue and what it can do to change course.

A special report on the resurgence of the Detroit auto industry using the Chrysler Jeep plant at Jefferson North as a focal point. The report centers on the characters behind the plant and the new technology it is using for manufacturing cars, while also looking at the economic desperation of the neighborhood in which the Jeep plant sits.

A glimpse of the savvy that built a global corporation from scratch Hess: The Last Oil Baron profiles a titan of the oil industry, mapping the journey of the quintessential American dream. The story of Leon Hess follows an immigrant kosher butcher's son as he builds an oil dynasty that may never be matched. The multinational, multi-billion-dollar company began with a single second-hand delivery truck and the Rockefeller-caliber business acumen of one young man. Interviews with former employees, beneficiaries, and even his high school sweetheart provide an insider's perspective on the man behind the legacy, allowing today's aspiring entrepreneurs the opportunity to learn from one of the nation's most inspiring success stories. Leon Hess built a global empire from the ground up. Along the way, he fought in a war, did business with Muammar Qaddafi, won a Super Bowl as the owner of the Jets, was involved in Watergate, and introduced the Hess toy truck that became a holiday tradition for millions of Americans. More than just a book of business strategy, Hess tells the story of a life fascinatingly lived, and the legacy he left behind. Discover the man behind the company, the Jets football team, and the iconic toy truck Learn how the actions of Leon Hess affected the modern push toward energy independence Study the strategy that turned a single-truck operation into a major integrated company Consider the challenges Hess Corp. faces to its family legacy today, and the solutions being implemented Leon Hess' strategies and techniques can be emulated and imitated, but his entrepreneurial fire is something altogether more rare. Hess provides readers with a glimpse of the man whose unrivaled ambition changed an industry and a nation.

A new, more comprehensive approach to long-term family wealth management More Than Money provides a high-level, integrated approach to preserving both financial resources and family harmony. Research has shown a failure rate of 70 percent in long-term multigenerational wealth management, and contrary to popular assumption, only five percent of that failure is due to bad investment, poor tax planning, or inadequate performance by legal and financial advisors. The number-one reason family wealth management fails is the family itself; poor communication, lack of trust, divergent visions, and a failure to prepare succeeding generations will tear down the resources the family has worked so hard to build. Traditional wealth management cannot fix this. Instead, this book offers a fresh approach that integrates strategic and tactical wealth management to align the family’s assets with the family members.  With helpful tools and advice drawn from a real-world understanding of family complexities, you’ll improve your ability to preserve your family’s resources over multiple generations. With an expert’s perspective on the real forces behind successful family wealth management, this book provides a clear model and a practical roadmap for long-term financial preservation. Develop a shared family vision and mission Improve communication and trust among members Merge strategic and tactical planning Ensure the longevity of your family’s wealth The wealth management sphere tends to focus on taxes, investments, banking, and estate planning, but little thought is given to the people themselves—this overlooks the fact that individual family members are the most critical factor in multigenerational wealth management, and fails to provide solutions. More Than Money merges traditional strategies with family dynamics, communication, governance, and preparation to help your resources last for generations to come.

A quantifiable framework for unlocking the unconscious forces that shape markets There has long been a notion that subliminal forces play a great part in causing the seemingly irrational financial bubbles, which conventional economic theory, again and again, fails to explain. However, these forces, sometimes labeled ‘animal spirits’ or ‘irrational exuberance, have remained elusive - until now. The Mystery of Market Movements provides you with a methodology to timely predict and profit from changes in human investment behaviour based on the workings of the collective unconscious. Niklas Hageback draws in on one of psychology's most influential ideas - archetypes - to explain how they form investor’s perceptions and can be predicted and turned into profit. The Mystery of Market Movements provides; A review of the collective unconscious and its archetypes based on Carl Jung’s theories and empirical case studies that highlights and assesses the influences of the collective unconscious on financial bubbles and zeitgeists For the first time being able to objectively measure the impact of archetypal forces on human thoughts and behaviour with a view to provide early warning signals on major turns in the markets. This is done through a step-by-step guide on how to develop a measurement methodology based on an analysis of the language of the unconscious; figurative speech such as metaphors and symbolism, drawn out and deciphered from Big Data sources, allowing for  quantification into time series The book is supplemented with an online resource that presents continuously updated bespoken archetypal indexes with predictive capabilities to major financial indexes Investors are often unaware of the real reasons behind their own financial decisions. This book explains why psychological drivers in the collective unconscious dictates not only investment behaviour but also political, cultural and social trends. Understanding these forces allows you to stay ahead of the curve and profit from market tendencies that more traditional methods completely overlook.

A simple guide to a smarter strategy for the individual investor A Wealth of Common Sense sheds a refreshing light on investing, and shows you how a simplicity-based framework can lead to better investment decisions. The financial market is a complex system, but that doesn't mean it requires a complex strategy; in fact, this false premise is the driving force behind many investors' market "mistakes." Information is important, but understanding and perspective are the keys to better decision-making. This book describes the proper way to view the markets and your portfolio, and show you the simple strategies that make investing more profitable, less confusing, and less time-consuming. Without the burden of short-term performance benchmarks, individual investors have the advantage of focusing on the long view, and the freedom to construct the kind of portfolio that will serve their investment goals best. This book proves how complex strategies essentially waste these advantages, and provides an alternative game plan for those ready to simplify. Complexity is often used as a mechanism for talking investors into unnecessary purchases, when all most need is a deeper understanding of conventional options. This book explains which issues you actually should pay attention to, and which ones are simply used for an illusion of intelligence and control. Keep up with—or beat—professional money managers Exploit stock market volatility to your utmost advantage Learn where advisors and consultants fit into smart strategy Build a portfolio that makes sense for your particular situation You don't have to outsmart the market if you can simply outperform it. Cut through the confusion and noise and focus on what actually matters. A Wealth of Common Sense clears the air, and gives you the insight you need to become a smarter, more successful investor.