The New Economics of Liquidity and Financial Frictions is a book about a new branch of economics that is largely a synthesis of macro and finance. In many ways, it is a radical departure from the older, frictionless approach still prevalent in economic textbooks and most of academia. This book provides a new understanding and approach to asset pricing, risk measurement and management, central banking policy, and the overall working of today’s economy, including questions of financial stability.
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The use of accounting measures and disclosures in bank contracts and in regulation suggests that the quality of banks’ financial reporting is central to the efficacy of market discipline and non-market mechanisms in limiting bank debt and risk overhang in good economic times, as well as mitigating the consequences of risk overhang that could compromise the stability of the financial system in downturns. Professors Viral Acharya and Stephen Ryan examine how research on banks’ financial reporting, informed by the financial economics literature on banking, can generate insights about how to enhance the stability of the financial system.
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The cover letter is probably the most underrated component of the job search. If written well, it can pique the curiosity of the employer and motivate him/her to carefully read your resume. If written poorly, the resume may never get read.
- Write to a specific individual - never Dear Sir or Madam.
- Tailor your letters - don't mass produce them.
- Keep it brief - 3 or 4 SHORT paragraphs will suffice.
- Make sure to use terminology that is not too technical - this might come off as arrogant and demonstrates insensitivity to the audience.
- Use paper and print which match your resume. Use the same header.
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“I have trouble coming up with good stock calls,” is one of the most common concerns I hear when starting a new one-on-one coaching assignment with an analyst.
There are dozens of skills required for great stock picking, but only one that burdens almost all analysts, regardless of experience level or geographic location: time management. To some, the concept of “time management” isn't worthy of being "learned" because they assume it's just a matter of using common sense…and that’s probably why time management is too often overlooked as a source of individual career advancement. If my hypothesis is right, we should coin a new buzzword to make this critically-important skill sound sexier; perhaps one of these:
- “Efficiency Re-engineering”
- “Prioritization Intensification”
- “Accelerated Productivity”
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If you have the common, errant idea of the Dutch as universally meticulous, arrogant and deadly boring people, you will not be disappointed by L. Petram’s book, The World’s First Stock Exchange. Happily of a “European” size—i.e. less than 300 pages—it might though bore you to death. What might have been the fascinating tale of colorful Conraad von Beuningen, a follower of Spinoza sent on ambassadorial missions to both France and England, and eventually Mayor of Amsterdam who went mad after losing his fortune in short selling, is reduced to the technicalities of how he avoided prohibition against short selling. Yet, it is necessary reading and a valuable reference source for scholars with a serious interest in markets, exchanges and financial history.
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This page is intended to serve as a reference for corporate related information, stressing the necessary preparations before the job hunt. This page is NOT intended to teach you how to find a job or where to look for a job. This page has been built with two assumptions in mind. Please keep them in mind as you read this page:
Resume Rule: Never Lie
- The audience has a clear idea of the type of job they want
- The audience is aware of the skills that they possess, but would like tips on how to communicate this across in the job search.
That's right – never lie on your resume. This cannot be stressed enough. It's the easiest way to lose an interview and is sufficient grounds for dismissal once on the job.
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When it comes to productivity, we all face the same challenge—there are only 24 hours in a day. Yet some people seem to have twice the time; they have an uncanny ability to get things done. Even when juggling multiple projects, they reach their goals without fail.
Time is really the only capital that any human being has, and the only thing he can’t afford to lose. —Thomas Edison
It feels incredible when you leave the office after an ultra-productive day. With the right approach, you can make this happen every day. You don’t need to work longer or even do more—you just need to work smarter. Try these 11 productivity hacks that ultra-productive people rely on:
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The most highly acclaimed and comprehensive learning tool available, Best Practices for Equity Research Analysts is an on-the-job reference filled with the practical knowledge and specific tasks buy-side and sell-side equity analysts need to claim their place among the most highly regarded in their industry.
Most equity research analysts learn their trade on the job, by apprenticing under a senior analyst or portfolio manager. However, these senior producers often have little time to train new analysts. Those who do have the time may not have developed research skills worth emulating (after all, over half of money managers underperform their benchmarks). Furthermore, in modern day equity research, analysts without a mentor don’t have time to learn on their own through trial and error because the stakes are too high.
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June is near and CFA candidates all over the world are counting down the days until exam day. All of us at NYSSA wish the best of luck, strong composure, and laser focus to those members of the NYSSA community who took our weekly or condensed review courses, problem solving or essay writing workshops, bootcamps and mock exams!
Because luck is not always enough, here are some easy to remember exam-taking strategy tips from our Lead CFA instructor, O. Nathan Ronen, CFA for you to internalize before exam day:
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“The stock market is a voting machine rather than a weighing machine. It responds to factual data not directly, but only as they affect the decisions of buyers and sellers.”- Graham and Dodd, Security Analysis
Earnings drive stock prices, so says investing lore. As earnings rise, stock prices move higher. As earnings fall, stock prices move lower. If it were only that simple.
Continue reading "Lower Earnings, Higher Stock Prices: The Voting Machine" »
From left, Golden Griffin Fund financial team members Carl Larsson, Ryan Zimmer, Matt Coad, Kevin Monheim and Stephen Miller (not shown) won the CFA Institute Research Challenge Global Championship, emerging first among 4,000 students. Derek Gee/Buffalo News
Five students win international contest testing financial analysis skills
Commencement is around the corner and the real world is waiting, and now Ryan Zimmer can add an impressive credential to his résumé: world champion financial analyst.
Zimmer and four other Canisius College students recently won an international financial analysis skills competition that pitted them against 4,000 students from 865 colleges across the globe.
The Canisius victory marked the first time since 2007 that a team from the United States captured the CFA Institute Research Challenge Global Final title.
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No matter who you are or what you do I am willing to bet that if you are having any of these thoughts below, then you are holding yourself back from achieving great success. As an executive coach, I am fortunate to work with and get into the brilliant minds of the brightest and most successful executives on Wall Street and beyond. Like the rest of us, my clients have insecurities that we work on recognizing and banishing from their minds. Here is the list of thoughts that are surprisingly common and are the greatest offenders to our success.
Beware of these toxic thoughts.
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