Life In The Financial Markets How They Really Work And Why They Matter To You

Most of the economic news that reaches market participants is reactive: it only explains what has happened. What's more, this information is belated, filtered, often massaged and sometimes tainted by politics and social relations. In times of crisis "speculators" all too often take the blame for economic downturns both in the media and in political discourse. Life in the Financial Markets offers financial services professionals, as well as anyone interested in the topic, an accessible and provocative guide to the functioning of the financial system. Written by Daniel Lacalle¿a senior portfolio manager and contributor to the Wall Street Journal and CNBC¿ Life in the Financial Markets passionately defends the honesty, seriousness and above all the essential and irreplaceable role that financial operators play in today's economy. Lacalle also includes a diagnosis of the economic crisis, that may be considered by some as controversial, but which offers a hopeful and honest way out of our current problems. Lacalle explores the recent history of the market and the financial crisis and touches on hot topics such as derivatives, high frequency trading, and investment banking. Viewed from the perspective of a successful practitioner, Lacalle provides clarity on some complex and very politicised elements of the banking system including the debt market, monetary policies, and quantitative easing. In accessible terms, Life in the Financial Markets explains the impact of, as well as the different issues surrounding, sovereign debt, the European crisis, and austerity versus growth policies. Based on his experience, Daniel Lacalle lambasts some of the myths surrounding the activity of hedge funds and financial operators, offers his take on the causes of the current crisis and includes ways to resolve them. Among other controversial ideas, Life in the Financial Markets argues persuasively that traders do not act outside the law; access to the investor's pocket is not anyone's right, not even that of a government; liquidity alone is not enough to tackle the current crisis; consensus assessment poses a danger to the investor; and the currency markets always impose the fundamentals. This important resource provides ideas and recommendations for negotiating the financial sectors and offers suggestions to investors for making their own investment decisions.