The Rise of Carry: The Dangerous Consequences of Volatility Suppression and the New Financial Order of Decaying Growth and Recurring Crisis
Autor Tim Lee, Jamie Lee, Kevin Coldironen Limba Engleză Paperback – 18 ian 2020
A
first-of-its-kind
primer
on
markets
and
the
economy—providing
the
knowledge
you
need
to
protect
yourself
from
the
next
financial
meltdown.
It’s
well
known
that
carry
trading
has
been
a
driving
force
in
financial
markets
for
years.
But
carry
is
actually
much
more
than
this.
In
fact,
it
has
become
the
primary
determinant
of
the
global
business
cycle.
The
first
book
of
its
kind,
TheRise
of
Carryexplains
how
financial
markets
work
today,
how
they
relate
to
the
overall
economy,
the
increasingly
important
role
of
carry
in
the
overall
economy—and
how
it
feeds
the
never-ending
cycles
of
boom
to
bust
and
back
again.
TheRise
of
Carryprovides
critical
but
often
overlooked
foundational
knowledge,
such
as:
•The
active
role
stock
prices
play
in
causing
recessions
(as
opposed
to
the
common
belief
that
recessions
cause
price
crashes)
•The
true
driving
force
behind
financial
asset
prices
•How
carry,
volatility-selling,
leverage,
liquidity,
and
profitability
affect
the
business
cycle
•How
positive
returns
to
carry
over
time
are
related
to
market
volatility—and
how
central
bank
policies
have
acted
to
supercharge
these
returns
Finally,
you’ll
gain
important
insight
into
how
the
rise
of
carry
is
part
of
a
broader
phenomenon
that
includes
growing
inequality
in
wealth
and
power
and,
by
extension,
other
adverse
political
and
social
developments.
While
there
has
been
an
increasing
amount
of
work
in
academia
on
carry
trades,
this
groundbreaking
book
is
a
first
for
investors.
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Specificații
ISBN-13: 9781260458404
ISBN-10: 1260458407
Pagini: 288
Dimensiuni: 160 x 236 x 28 mm
Greutate: 0.4 kg
Editura: McGraw Hill Education
Colecția McGraw-Hill
Locul publicării:United States
ISBN-10: 1260458407
Pagini: 288
Dimensiuni: 160 x 236 x 28 mm
Greutate: 0.4 kg
Editura: McGraw Hill Education
Colecția McGraw-Hill
Locul publicării:United States
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Cuprins
Figures and Tables
Preface and Acknowledgments
1 Introduction—The Nature of Carry
2 Currency Carry Trades and Their Role in the Global Economy
3 Carry, Leverage, and Credit
4 Dimensions of Carry and Its Profitability as
an Investment Strategy
5 The Agents of Carry
6 The Fundamental Nature of the Carry Regime
7 The Monetary Ramifications of the Carry Regime
8 Carry, Financial Bubbles, and the Business Cycle
9 The Foundation of Carry in the Structure of Volatility
10 Does the Carry Regime Have to Exist?
11 Carry Is Synonymous with Power
12 The Globalization of Carry
13 Beyond the Vanishing Point
Index
Preface and Acknowledgments
1 Introduction—The Nature of Carry
2 Currency Carry Trades and Their Role in the Global Economy
3 Carry, Leverage, and Credit
4 Dimensions of Carry and Its Profitability as
an Investment Strategy
5 The Agents of Carry
6 The Fundamental Nature of the Carry Regime
7 The Monetary Ramifications of the Carry Regime
8 Carry, Financial Bubbles, and the Business Cycle
9 The Foundation of Carry in the Structure of Volatility
10 Does the Carry Regime Have to Exist?
11 Carry Is Synonymous with Power
12 The Globalization of Carry
13 Beyond the Vanishing Point
Index
Descriere
A first-of-its-kind primer on markets and the economy—providing the knowledge you need to protect yourself from the next financial meltdown.
It’s well known that carry trading has been a driving force in financial markets for years. But carry is actually much more than this. In fact, it has become the primary determinant of the global business cycle.
The first book of its kind, The Rise of Carry explains how financial markets work today, how they relate to the overall economy, the increasingly important role of carry in the overall economy—and how it feeds the never-ending cycles of boom to bust and back again.
The Rise of Carry provides critical but often overlooked foundational knowledge, such as:
•The active role stock prices play in causing recessions (as opposed to the common belief that recessions cause price crashes)
•The true driving force behind financial asset prices
•How carry, volatility-selling, leverage, liquidity, and profitability affect the business cycle
•How positive returns to carry over time are related to market volatility—and how central bank policies have acted to supercharge these returns
Finally, you’ll gain important insight into how the rise of carry is part of a broader phenomenon that includes growing inequality in wealth and power and, by extension, other adverse political and social developments. While there has been an increasing amount of work in academia on carry trades, this groundbreaking book is a first for investors.