By: John A. Paulos
Is the market efficient? Is it random? Is there anything to technical analysis, fundamental analysis, and other supposedly time-tested methods of picking stocks? These are some of the questions that mathematician John A. Paulos grapples with in this funny, witty and insightful book. His background in mathematics allows him to cast doubt on the notions of “data mining” and “momentum investing”. His justified audacity leads him to question Warren Buffet’s “fundamental analysis”.
Playful and informative, Paulos's book will be appreciated by investors and lay people alike with a sense of humor. Paulos also shares the unfortunate tale of his own extended and unlucky love affair with WorldCom.
… A must read for anyone with a non professional interest in the market.
This book provides an overview of the practice of Islamic finance and the historical background that defines its modes of operation. This book is very analytical and forward-looking. It demonstrated how Islamic finance exists mainly as a form of rent seeking legal arbitrage. In every aspect of finance (from personal loans to investment banking,to market structure to corporate governance) Islamic finance aims to reproduce in Islamic forms the main functions of today's financial instruments, markets, and institutions. By trying to replicate the substance of today's financial ways using pre contemporary contract forms, Islamic finance has failed to serve the purposes of Islamic law. This book proposes refocusing Islamic finance on substance instead of form. This approach would mean abandoning the paradigm of "Islamization" of every financial practice. It would also mean reorienting the brand name of Islamic finance to emphasize issues of community banking and socially and morally responsible investment.
"Islamic Finance: Law, Economics, and Practice"
By: Mahmoud A. El-Gamal
This book provides an overview of the practice of Islamic finance and the historical background that defines its modes of operation. This book is very analytical and forward-looking. It demonstrated how Islamic finance exists mainly as a form of rent seeking legal arbitrage. In every aspect of finance (from personal loans to investment banking,to market structure to corporate governance) Islamic finance aims to reproduce in Islamic forms the main functions of today's financial instruments, markets, and institutions. By trying to replicate the substance of today's financial ways using pre contemporary contract forms, Islamic finance has failed to serve the purposes of Islamic law. This book proposes refocusing Islamic finance on substance instead of form. This approach would mean abandoning the paradigm of "Islamization" of every financial practice. It would also mean reorienting the brand name of Islamic finance to emphasize issues of community banking and socially and morally responsible investment.
If you are interested in this theme don't forget to read my post about it: "Allah's way to finance"
"Banker of the Poor"
By: Muhammad Yunus
Bangladesh, a country smaller than Italy with a population of over 120 million people, is the home of Grameen Bank, the project of economist Yunus, born in Bangladesh but educated and trained in the United States of America. Rather than spending his time as a professor of economics at university, he decided, in the 1970s, to create a micro lending program with the aim of helping the poorest people in Bangladesh. Muhammad founded the project on his conviction that extremely poor people do not need advanced educational programs to improve their financial situation. What they need is only a bit of liquidity. Grameen Bank has given a better economic standing to thousands of people, mostly women, and has positively impressed experts.
While microfinance was not invented by Grameen Bank, the institution's success led to its spread worldwide in the both the developed and developing world. It has not been without criticism, however, with some pointing at the high interest rates microfinance institutions (MFis) charge their clients (up to 20 percent). More controversially, the microfinance industry had a reputational battering during the 2008-09 financial crisis when it emerged that it had led to overindebtedness in some parts of the world.
While microfinance was not invented by Grameen Bank, the institution's success led to its spread worldwide in the both the developed and developing world. It has not been without criticism, however, with some pointing at the high interest rates microfinance institutions (MFis) charge their clients (up to 20 percent). More controversially, the microfinance industry had a reputational battering during the 2008-09 financial crisis when it emerged that it had led to overindebtedness in some parts of the world.
