the alchemy of finance reading the mind of the market by george soros phần 9 pps

... received a lot of publicity at the time of the stock market break of October 198 6. Nevertheless, the market has recovered its poise and reached new highs early in 198 7. How far can the boom go? ... 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...

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

... 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

... 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 ... result, they could report substantial earnings gains, and some of them actually increased their dividends in 198 3. Ironically, the formation of the Collective...

Ngày tải lên: 10/08/2014, 07:21

... 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

... 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

... surprised by the emergence of the Imperial Circle; then in the course of the experiment I was surprised by the premature demise of the Golden Age of Capitalism. In Phase 2 of the experi- ment I ... 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...

Ngày tải lên: 10/08/2014, 07:21

... corrected. The Crash of '87 3 49 risk at the cost of enhancing the instability of the system. In prac- tice, the breakdown of &apos ;the system did not allow the individual to escape unscathed. ... giving them a license to manipulate the market. The two outstanding features of the Crash of 198 7, then, are the absence of a second selling cl...

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