the alchemy of finance reading the mind of the market by george soros phần 5 docx

... process where the direction of economic policy and the direction of the financial markets mutually rein- force each other. It is the response of the financial markets that has given me the Phase ... identify the "thesis" that the current market rally incorporates and evaluate its chances of success; the other is to locate the present moment within...

Ngày tải lên: 10/08/2014, 07:21

... losses in the collapse of the conglomerates. Since they were entitled to share in the profits but did not have to share in the losses of the funds they managed, Reflexivity in the Stock Market ... stock market. The possibility that stock market developments may affect the fortunes of the companies is left out of account. There is a clear parallel with the...

Ngày tải lên: 10/08/2014, 07:21

... to find them; and, what was the most painful of all, sometimes I got them wrong. One way or another, I often invested , THE ALCHEMY READING THE MIND OF THE MARKET GEORGE SOROS NEW ... debt. The valuation of the collateral is sup- posed to be independent of the act of lending; but in actual fact the act of lending can affect the value of the...

Ngày tải lên: 10/08/2014, 07:21

... linked the strength of the dollar to the strength of the econ- omy and to the interest rate differential. When the dollar refused to weaken, the last of the trend fighters gave up and the exchange ... curities and the ,moFgage insurance companies were on the hook. The potential liability exceeded the assets of some of the insur- ance companies in que...

Ngày tải lên: 10/08/2014, 07:21

... equals the total equity of the fund. A short position in U.S. dollam indicates the amount by which the currency exposure exceeds the equity of the fund. (3) Currency exposure shown as of ... the total equity of the fund. A short position in U.S. dollars indicates the amount by which the currency exposure exceeds the equity of the fund. (31...

Ngày tải lên: 10/08/2014, 07:21

... few: the steepening of the yield curve; the rise of gold; and the disarray in the Group of Five process. The stock market also shows signs of a major top, although it has not quite reached the ... based. Most of my recent macro moves turned sour; only the decision to short the yen has saved the day. I can apply the profit on the yen either to offset...

Ngày tải lên: 10/08/2014, 07:21

... corresponds to the way that financial markets operate. That means that the markets themselves can be viewed as formulating hypotheses about the future and then sub- mitting them to the test of the actual ... Scientific theories are judged by the facts; financial decisions are judged by the distorted views of the participants. Instead of scientific method, financ...

Ngày tải lên: 10/08/2014, 07:21

... anything, that strengthens my argument that there is a conflict of interest between the domestic responsibilities of the Bundesbank and its role as the anchor of the EMS. The events of the last two ... meaningful to others as it is to me, The key is to distinguish between the fact of death and the idea of death. The fact of death is linked with the fact...

Ngày tải lên: 10/08/2014, 07:21

... proverb Reading to Generate Ideas 55 Art of Creative Thinking 1-134:Creative Thinking 3/4/07 10:37 Page 55 The use of reading is to aid us in thinking. Edward Gibbon ‘I love to lose myself in other ... enjoy- able way of developing those faculties.  The real object of education is to take you to the condition of continuously asking questions.  Under the hospitable r...

Ngày tải lên: 10/08/2014, 07:21

... debt. The valuation of the collateral is sup- posed to be independent of the act of lending; but in actual fact the act of lending can affect the value of the collateral. This is true of the ... lems relating to the observer were resolved, whereas the problems of the observer can be directly attributed to the indeterminacy of the subject matter. Thus...

Ngày tải lên: 28/06/2014, 21:20