{"product_id":"the-future-of-finance-a-new-model-for-banking-and-investment-hardback-9780470572290","title":"The Future of Finance; A New Model for Banking and Investment (Hardback) 9780470572290","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eThe Future of Finance\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eA New Model for Banking and Investment\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eMoorad Choudhry (Author), Gino Landuyt (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780470572290, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 19 November 2010\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e224 pages, Charts: 49 B\u0026amp;W, 0 Color; Tables: 29 B\u0026amp;W, 0 Color\u003cbr\u003e23.6 x 16 x 2 cm, 0.408 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003e\u003cb\u003eNew banking and investment business models to navigate the post-financial crisis environment\u003c\/b\u003e  \u003cp\u003eThe financial crisis of 2007-2008 has discredited business models in the banking and fund management industries. In \u003ci\u003eThe Future of Finance,\u003c\/i\u003e Moorad Choudhry and Gino Landuyt argue that banks must realign their business models, implying a lower return-on-equity; diversifying their funding sources; and increasing liquidity reserves. On the investment side, the authors discuss how diversification did not reduce risk, but rather amplified it, and failed to stabilize returns. The authors conclude that the clear lesson from the crisis is to know one's risk. A lesson that is best served by concentrating on assets and sectors that you understand.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eExamines the weaknesses in the business models of many institutions, as well as the theoretical foundation for professionals in the field of finance\u003c\/li\u003e \u003cli\u003eIdentifies the shortcomings of Modern Portfolio Theory\u003c\/li\u003e \u003cli\u003eAddresses how investment managers can find new strategies for creating \"alpha\" and why they need to re-vamp their fee structures\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eFilled with in-depth insights and practical advice, \u003ci\u003eThe Future of Finance\u003c\/i\u003e will provide bankers and investment managers with a guide to realigning their businesses in order to prosper in the post-crisis financial markets.\u003c\/p\u003e\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e\u003cp\u003eForeword xi\u003c\/p\u003e \u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eIntroduction xix\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMarket Instability xx\u003c\/p\u003e \u003cp\u003eDerivatives and Mathematical Modeling xxi\u003c\/p\u003e \u003cp\u003eSenior Management and Staying in the Game xxiii\u003c\/p\u003e \u003cp\u003eMacroprudential Financial Regulation and Cycle-Proof Regulation xxiii\u003c\/p\u003e \u003cp\u003eThe Way Forward xxv\u003c\/p\u003e \u003cp\u003eConclusion xxvi\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One A Review of the Financial Crash 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Globalization, Emerging Markets, and the Savings Glut 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGlobalization 3\u003c\/p\u003e \u003cp\u003eA Series of Emerging-Market Crises 5\u003c\/p\u003e \u003cp\u003eLow-Yield Environment Due to New Players in the Financial Markets 8\u003c\/p\u003e \u003cp\u003eArtificially Low Exchange Rates 15\u003c\/p\u003e \u003cp\u003eRecommendations and Solutions for Global Imbalances 16\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 The Rise of Derivatives and Systemic Risk 22\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSystemic Risk 23\u003c\/p\u003e \u003cp\u003eDerivative Market Systemic Risk: Solutions for Improvement 30\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 The Too-Big-to-Fail Bank, Moral Hazard, and Macroprudential Regulation 37\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBanks and Moral Hazard 37\u003c\/p\u003e \u003cp\u003eAddressing Too-Big-to-Fail: Mitigating Moral Hazard Risk 42\u003c\/p\u003e \u003cp\u003eMacroprudential Regulation: Regulating Bank Systemic Risk 53\u003c\/p\u003e \u003cp\u003eConclusion 58\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Corporate Governance and Remuneration in the Banking Industry 60\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBonuses and a Moral Dilemma 60\u003c\/p\u003e \u003cp\u003eA Distorted Remuneration Model 61\u003c\/p\u003e \u003cp\u003eUnsuitable Personal Behavior 64\u003c\/p\u003e \u003cp\u003eConclusion 65\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Bank Capital Safeguards: Additional Capital Buffers and Reverse Convertibles 67\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCapital Issues in a Bear Market 67\u003c\/p\u003e \u003cp\u003eLooking for New Capital Instruments 69\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Economic Theories under Attack 76\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Belief in Free and Self-Adjusting Markets 76\u003c\/p\u003e \u003cp\u003eModigliani and Miller 85\u003c\/p\u003e \u003cp\u003eMarkowitz and Diversification Tested 85\u003c\/p\u003e \u003cp\u003eMinsky Once Again 88\u003c\/p\u003e \u003cp\u003eLessons to Be Learned by Central Banks 89\u003c\/p\u003e \u003cp\u003eConclusion 92\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two New Models for Banking and Investment 93\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Long-Term Sustainable Investment Guidelines 95\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Investment Landscape after the Crisis 95\u003c\/p\u003e \u003cp\u003eGovernment Debt and Demographics 97\u003c\/p\u003e \u003cp\u003eA New Economic Environment 103\u003c\/p\u003e \u003cp\u003eThe Inflation Dragon 105\u003c\/p\u003e \u003cp\u003eCurrencies and a Changing Geopolitical Landscape 115\u003c\/p\u003e \u003cp\u003eExchange-Traded Funds: A Flexible Asset Class 118\u003c\/p\u003e \u003cp\u003eConclusion 121\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Bank Asset-Liability and Liquidity Risk Management 123\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBasic Concepts of Bank Asset-Liability Management 123\u003c\/p\u003e \u003cp\u003eAsset and Liability Management: The ALCO 134\u003c\/p\u003e \u003cp\u003eALCO Reporting 137\u003c\/p\u003e \u003cp\u003ePrinciples of Banking Liquidity Risk Management 142\u003c\/p\u003e \u003cp\u003eMeasuring Bank Liquidity Risk: Key Metrics 145\u003c\/p\u003e \u003cp\u003eInternal Funding Rate Policy 151\u003c\/p\u003e \u003cp\u003eConclusion 157\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 A Sustainable Bank Business Model: Capital, Liquidity, and Leverage 158\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe New Bank Business Model 158\u003c\/p\u003e \u003cp\u003eCorporate Governance 167\u003c\/p\u003e \u003cp\u003eLiquidity Risk Management 168\u003c\/p\u003e \u003cp\u003eThe Liquid Asset Buffer 175\u003c\/p\u003e \u003cp\u003eConclusion 177\u003c\/p\u003e \u003cp\u003eNotes 179\u003c\/p\u003e \u003cp\u003eReferences 187\u003c\/p\u003e \u003cp\u003eAbout the Authors 189\u003c\/p\u003e \u003cp\u003eIndex 191\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Finance \u0026amp; accounting [\u003ca title=\"See our other books on Finance \u0026amp; accounting\" 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