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"Other peoples money the real business of finance"

Other peoples money the real business of finance pdf

by: Kaleigh B.
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Language: English

I was most impressed by how he explained the role of CDS (credit default swaps), moral hazard, and CDO (collateralized debt obligation) during the financial crisis. Sep 27, - The Paperback of the Other People's Money: The Real Business of Finance by John Kay at Barnes & Noble. FREE Shipping on $35 or more! John Kay, with wide practical and academic experience in the world of finance, understands the operation of Jun 1, - Uploaded by Doris Nikolic.


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The charge is an old one that has taken on new relevance in the wake of the crisis. Yet Kay is no angry Jeffersonian agrarian, but rather an academic economist with a weekly Financial Times column and a onetime financial consultant. Finance, Kay argues, has strayed dangerously from its core functions.

The result: instability and crisis. Kay provides by way of context a panoptic overview of the history, evolution and structure of the financial system in the United States and Britain, one that is impressive in its ability to weave together a comprehensive range of material, from the mechanics of banking to the Gaussian copula, in elegant, jargon-free prose.

He confidently employs many perspectives: economic, historical, legal and psychological. Call this technique a Lombard Street for the 21st century. The last third of the book insightfully addresses reform, which, refreshingly, Kay stresses is not the same as regulation. Moreover, financial regulation suffers from a faster-spinning revolving door compared with other industries, with the regulators themselves either coming from or looking forward to landing in the industry they are supposed to oversee.

In reality, it had little effect on the financial expectations of those who worked in the firms. In , it can read like an indictment of a convict already sentenced. Post-crisis, banks are more heavily capitalized, trading less and earning lower return on equity.

But surely to a decreasing degree: At Goldman Sachs, the amount of total revenue that is set aside for employee compensation has gone from more than 50 percent before the crisis to about 37 percent in Still, this can feel like a change born of chastening rather than epiphany. Kay makes a strong case that change must be embraced rather than accepted grudgingly if it is to endure. Home Page World U.

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Flipping a house is easy if you have plenty of cash on hand. Using OPM to finance a flip can take many forms. Mike is a government employee who was exploring ways to supplement his income by flipping houses. The asset he owned was a 2. After conferring with his tax professional and Realtor, Mike put a plan in place to attempt his first flip. His plan included utilizing the equity in his lot to generate the cash needed for the 20 percent down payment and closing costs required to complete the purchase portion of the flip.

He then went to a local community bank and took out a line of credit on his 2. At the same time, Mike made arrangements with the community bank to take out a construction loan to pay the remainder of the purchase price and cover the cost of repairs. After 15 days on the market, a first-time buyer purchased the home for the full asking price. One possibility is to partner with someone who has money to invest. Close friends, relatives and business associates are often good partner candidates.

Partners can finance just the down payment, closing and repairs costs, or can bankroll the entire project. Hard money lenders focus on serving people who are not qualified to obtain loans at normal interest rates, and typically charge between 10 to 15 percent, and more, for the funds.

Private lenders are arguably the best source of funding. Private lenders are regular folks who have disposable cash on hand to invest. Crowdfunding sites, such as Groundfloor and Small Change, can also be a good source of funding. US News and World Report recently published a list of the seven best crowdfunding sites for real estate.

How popular is flipping? The number represented 7. In the end, flipping a house can be beneficial to many.

He loves to answer questions and can be reached at or Gary GarySandler. Home flipping was more popular than ever last year.

But if you want to try your hand at it, some cities offer better opportunities than others. This chart shows the number of homes flipped annually from to

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Jun 09,  · Close friends, relatives and business associates are often good partner candidates. Partners can finance just the down payment, closing and repairs costs, or can bankroll the entire project. John Kay deciphered the complicated world of finance and presented in an intriguing and logical way. I was most impressed by how he explained the role of CDS (credit default swaps), moral hazard, and CDO (collateralized debt obligation) during the financial crisis in Would that business life were so simple! You’ll learn that and more from a careful viewing of the biz pic Other People’s Money. Based on a Broadway play, the movie is considered by many to be Hollywood’s best and most balanced examination of the overlapping stewardships with which senior managers must deal. wire and cable.