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- Product code: 15746
- ISBN: 1861974035,
ISBN13: 9781861974037,
288 pages, hardback
Published by Profile Books on 2003
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Description of Market Panic |
The markets are jittery and share prices are falling. Conventional wisdom dictates that this is the time to dump stocks. Not so, says Stephen Vines, this knee-jerk reaction is wrong. Vines argues that bear markets can yield the greatest opportunities for investors (if they have the nerve), that market panics are likely to get more serious but that investors have reason to benefit from such volatility
Stephen Vines is a successful businessman, investor, writer and broadcaster, whose specialist area is equity markets. In Market Panic, he takes a cool look at current trends to explain why investors are bargain-averse. And he shows why the conventional wisdom about diversification is deeply flawed. Advising on the best way to understand different types of panic, Vines offers a simple strategy for success in ‘dangerous’ markets.
Vines also looks at how market professionals cope when managing big portfolios during crises. His interviews with a fund manager and a trader provide gripping accounts of what it’s like to be in the midst of a panic and how, sitting at the sharp end, they approached these crises.
Market Panic also attacks another sacred cow - efficient markets theory. Vines argues that the theory is flawed both in explaining how markets react and how they interact with the wider economy. He shows why only a fraction of the capital raised in equity markets is devoted to building companies and even when it is the market proves to be highly inefficient in utilising these funds. As a businessman himself, he understands why many entrepreneurs are now shunning the markets.
At a time when everyone is looking for answers to the question of what happens next as markets tumble and what they should do next, here is a book which provides the answers.
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Contents of Market Panic |
1. Preparing for panics and profiting from them
2. Types of panics
3. The panic cycle
4. A new age of panics
5. The trader and the fund manager
6. The psychology of panics
7. Does diversification provide protetction against stock market fluctuations?
8. Is the market always right?
9. Opportunity
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About Steven Vines |
Stephen Vines is a broadcaster and businessman who also writes a number of newspapers and web columns. His company Pan Britain Ltd provides consultancy services to major corporations in the East Asian region. As a director of hongkongnow.com he is actively involved in media consultancy and providing editorial services to companies. He is founder and director of four companies, the others being in the food industry.
Currently based in Hong Kong, Vines has written for broadsheets in both the UK and South East Asia including the Guardian, the Independent, the Observer and the Daily Telegraph. He has also been a contributor to a large number of publications in Australia, Britain, the Asian region and the US, including the Asian Wall Street Journal and the Economist. He was the founding editor of Eastern Express and a contributing editor for the Bangkok-based regional business daily Asia Times and the New York based Daily Deal.
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