The impact of higher oil prices on economic growth in OPEC countries would depend on a variety of factors, particularly how the windfall revenues are spent. In the long term, however, OPEC oil revenues and GDP are likely to be lower, as higher prices would not compensate fully for lower production.
I’VE SPENT 50 YEARS as a lawyer, business advisor, and deal nego-
tiator for real estate tycoons at the top of the world’s toughest real
estate market—New York City. I’ve represented or negotiated with
great real estate minds like Harry Helmsley, Sam LeFrak, Bill Zeck-
endorf, and Donald Trump. It’s been my good fortune to spend many
of the best years of my career as Donald’s right-hand man.
Market frenzies like these are not isolated and certainly not unique episodes in financial history. On the contrary, market bubbles—situations in which prices are way higher than values—happen all too often
This is the cornerstone of our investment philosophy: Never count on making a good sale. Have the purchase price so attractive that even a mediocre sale gives good results. —Warren Buffett.
Buffett remains mum about stocks he is buying or is about to buy, but he has been pretty open about explaining his general investment strategy.
Our first book, Mastering the Currency Market (McGraw-Hill
2009), was written to provide a foundation for learning the art of
discretionary trading, and it should be a prerequisite for this book.
Mastering Trade Selection and Management focuses on helping you
to collate and balance the earlier information, and to refine the trading
techniques that you are likely to use for the rest of your career.
Along with covering the all-important topics of trade selection and
management, this book also addresses the necessity of being able to
draw up a plan and stick to that plan.
E very antiaircraft gun in Richmond seemed to thunder at once. The sky above the capital of the
Confederate States filled with black puffs of smoke. Jake Featherston, the President of the CSA, had
heard that his aviators called those bursts nigger-baby flak. They did look something like black dolls—
and they were as dangerous as blacks in the Confederacy, too.
U.S. airplanes didn’t usually come over Richmond by daylight, any more than Confederate aircraft
usually raided Washington or Philadelphia or New York City when the sun was in the sky.
I have worked with many people—clients, attorneys and international examiners,
fellow transfer pricing economists and others—over the years, all of whom have
contributed greatly to my understanding of the issues addressed in this book. I
thank all of these individuals for their professionalism, their willingness to share
their knowledge, and their friendship. I would also like to thank several people for
their extremely helpful and insightful comments on this manuscript. Conﬁdential-
ity constraints prevent me from mentioning anyone by name.
Whereas Benjamin Graham emphasized buying securities cheaply and selling them when they become reasonably priced, Philip A. Fisher emphasizes buying ﬁne companies, “bonanza” companies, and just holding onto them. Despite their seeming differences, both men favor conservative investments—held for the long term.
A basic assumption about consumers in microeconomics is that they have preferences over different baskets of goods. Explain the concepts “preference”, “preference order”, and “basketof goods”. Exercise 1.1.2 a)If there are only two goods, it is possible to illustrate a consumer’s preferences over them with an indifference map. Draw an indifference map with three indifference curves. b)There are a few standard assumptions about what an indifference map can and cannot look like. Which are these assumptions, and what reasoning lies behind them?...
Environmental challenges act as a spur to invention and innovation. R&D will continue to be important
as companies and investors seek disruptive technology solutions that can change the economics of,
and rewards from, new environmental products or processes. Significant private and public funds have
already been established, many of which are still investing despite the current economic slowdown.
The short‐term challenge is to ensure that these funds continue to flow and to sustain future growth.
This is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. The publisher reserves the right to remove content from this title at any time if subsequent rights restrictions require it. For valuable information on pricing, previous editions, changes to current editions, and alternate formats, please visit www.cengage.
The genus Camelus was probably among the last of the major domestic species to be put
to regular use by man. There is a little direct evidence for an exact time of domestication,
mainly because the camel has changed relatively little as a result of selection and,
whereas it is possible at archaeological sites to observe the changes in other species, this
is not the case for camels. Since the early camel owners were nomadic, they left few
permanent mementoes of their presence. The most likely time of domestication, however,
is about 4000 years BP (before present).
the absence of further guidance on the relative importance of the two argu-
ments, our prior about the relative smartness of institutional versus individual
money f lows remains neutral.With regard to the direction ofmoney f lows, there
are at least two reasons to believe that investors’ fund sells have a weaker as-
sociation with future performance than their fund buys. First, the disposition
effect discussed in Odean (1998) suggests that sell decisions are generally not
The preparation of human
karyotype for the first time in 1959 led to the identification of numerical aberrations in
the following years associated with Down’s, Turner and Klinefelter syndromes which
implied the need for routine screening for chromosomal anomalies in certain clinical
This report was prepared by a team from the OECD's Information Economy Unit of the Information,
Communications and Consumer Policy Division within the Directorate for Science, Technology and
Industry. The contributing authors were Chris Bruegge, Kayoko Ido, Taylor Reynolds, Cristina Serra-
Vallejo, Piotr Stryszowski and Rudolf Van Der Berg.
The case studies were drafted by Laura Recuero Virto of the OECD Development Centre with editing
by Elizabeth Nash and Vanda Legrandgerard.
The work benefitted from significant guidance and constructive comments from ISOC and UNESCO.
There are also marked differences between retailers in terms of their pricing
policies. These differences do not only relate to the general price level but also to
whether a retailer predominantly pursues permanent pricing policies, or whether
high prices alternate with low-price promotions. This latter strategy was an
adequate tool in times of relatively high inflation and a subsequent lack of market
transparency in order to attract customers.
Farmers have several general concerns about crop insurance voiced by national farm
organizations representing a cross-section of American agriculture. The American Farm Bureau
Federation (AFBF) and others would like USDA to address shallow losses, which occur when
losses are significant for the farmer but not enough to trigger an indemnity.
Also, this group and
others point out a need to address declines in actual production history (APH), which is used for
determining the insurance guarantee.
Short-term benefits have been noted in studies comparing immediate start of COC with
conventional start.14 In a randomised trial, those who were quick started were more likely to
start their second pack of pills (OR 1.5; 95% CI 1.0–2.1). However at 3 and 6 months,
continuation rates were comparable between the two groups.16 This study involved mainly
socially deprived young Latino women and therefore these findings may not translate to
other groups of women.
The increased speed at which underwriting decisions can be made has created pressure to
complete credit applications more quickly. Some contend that the combination of this
increased pace and the increased ability to customize the price charged based on credit
allows lenders to approve a larger share of consumers for loans, but not necessarily at the
best rates for which they qualify.