The Equity Trader Course - Hardcover

Schwartz, Robert A.; Francioni, Reto; Weber, Bruce

Hardcover

ISBN 10: 0471741558 ISBN 13: 9780471741558

Publisher: Wiley, 2006

Synopsis

Get a comprehensive course in equity trading with this book and CD-ROM combination. Providing in-depth insight and practical knowledge, the authors walk you through the dynamics of this market and the mechanics of trading -- from entering a trade to following the market and profitably exiting a position. The companion TraderEx CD-ROM features a computer-driven trade simulator that offers hands-on experience in making tactical trading decisions in different market situations. Each chapter of the book works in combination with the simulation software so both novice and experienced traders learn to be versatile and successful in their purchasing and selling decisions.

About this title

About the Author

ROBERT A. SCHWARTZ is Marvin M. Speiser Pro-fessor ofFinance and University Distinguished Professor in the ZicklinSchool of Business, Baruch College, CUNY. Before joining the Baruchfaculty in 1997, he was Professor of Finance and Economics andYamaichi Faculty Fellow at New York University's Leonard N. SternSchool of Business, where he had been a member of the faculty since1965. Professor Schwartz received his PhD in economics fromColumbia University. He has published over fifty journal articlesand fifteen books, including Equity Markets in Action (Wiley),which he coauthored with Reto Francioni. He has served as aconsultant to various market centers including the New York StockExchange, the American Stock Exchange, NASDAQ, and DeutscheBörse, and has been an associate editor for several financejournals. In 1995, Professor Schwartz was named the first chairmanof NASDAQ's Economic Advisory Board, where he served until thespring of 1999.

RETO FRANCIONI has been the CEO of the Executive Board ofDeutsche Börse AG, since November 2005, and was president andchairman of the board of SWX Group. In 1993, Francioni joinedDeutsche Börse AG, where he was responsible for its entirecash market and later became its deputy chief executive officer.Earlier in his career, he was a director of the corporate financedivision at Hoffmann-LaRoche AG, Switzerland. Francioni has a lawdegree and PhD in law from Zurich University and is Professor ofEconomics and Finance at the Zicklin School of Business, BaruchCollege, CUNY.

BRUCE W. WEBER is Associate Professor ofInformationManagement at the London Business School, where heteaches information management and trading and financial marketstructure in MBA, master's, and executiveprograms. He has a PhD indecision sciences from the Wharton School of the University ofPennsylvania. His research on strategic uses of IT and thecomputerization of financial services has been published in anumber of academic journals, and he has consulted for a host offinancial services organizations. Prior to joining the LondonBusiness School in 2003, he was on the faculties of the SternSchool of Business–New York University and Baruch College,CUNY.

From the Back Cover

Praise for The Equity Trader Course +CD

"Without trading, investing is an academic exercise. This bookand its computer simulation bridge the gap and should be requiredreading for traders, old and new, and anyone who wants tounderstand why America's equity markets are the richest and deepestin the world. Part primer and part advanced discussion of moderntrading techniques and technology, this book should be in everytrading room. Authors Schwartz, Francioni, and Weber—alongwith a slew of important contributors—have created thedefinitive course on equity trading. Ignore this book at yourinvesting peril!"
—Theodore R. Aronson, CFA, Aronson+Johnson+Ortiz, and formerchair of the board of governors, CFA Institute

"Back in the early days of Island, we all read Bob Schwartz'sarticles on limit order trading. Now, with The Equity TraderCourse, tomorrow's traders can benefit from this comprehensiveoverview of stock trading."
—Matt Andresen, President, Citadel Execution Services, andformer CEO, Island ECN

"In the world of trading, letting others make their move firstpays. This is but one bit of salient advice found in this book. Theauthors reinforce the importance of liquidity and the placement oflimit and market orders. Their appreciation for technical analysisand the need for algorithmic trading guide the reader toward thediscipline of risk management and the goal of bestexecution."
—Ralph J. Acampora, CMT, Managing Director, Knight Research,Knight Equity Markets, L.P.

"An excellent update on the theory and practice of equitytrading. The authors present the state of the art of the business.This is a highly useful reference for today's professionals."
—Dr. Josef Ackerman, Chairman, Group Executive Committee,Deutsche Bank AG

"The world's equity markets are large, intricate, and rapidlyevolving. Yet, drill down below the surface and there is structureand logic. This book, with clear and insightful text, superblyilluminates the picture for both the novice and the seasonedtrader."
—Peter Forstmoser, Chairman, Swiss Re, and Professor,University of Zurich

From the Inside Flap

If you are intent on enhancing your trading performance in today'smarkets, you must find a way to quickly exploit tradingopportunities that arise from pricing inefficiencies as well asdrive down costs associated with your trades.

In The Equity Trader Course, Robert Schwartz, Reto Francioni,and Bruce Weber—along with a number of industry leaders whohave contributed special pieces for the chapters of thisbook—provide a comprehensive course in equity trading for boththe seasoned professional and serious independent trader. Thisdetailed guide delivers key information on the dynamics of equitytrading and shows you how to make the most of your time in themarkets.

Filled with in-depth insights and practical advice, The EquityTrader Course examines:

• The basic features of equity trading—fromorder arrival tothe bid-ask spread
• The importance and intricacies of liquidity
• The use of limit and market orders
• Order entry and trade execution in a continuous trading regimeand a periodic call auction
• The various roles of market intermediaries
• The value of technical analysis and algorithmic trading
• The complexity of performance measurement

Because the most valuable market lessons occur in the heat ofthe trading moment, this book's companion CD-ROM contains acomputer-based simulation model, TraderEx, which gives you thechance to make hands-ontrading decisions and see the results liveon your computer screen. These simulations help you hone yourknowledge and decision-making skills before you put them to work inreal-world situations.

Trading has never been an easy endeavor, but with The EquityTrader Course as your guide, you can learn how to make betterdecisions—as well as lower your costs—by becomingfamiliar with the dynamics of today's markets and the mechanicsbehind the trades you make.

Edition details

• Publisher: Wiley
• Publication date: 2006
• ISBN 10: 0471741558
• ISBN 13: 9780471741558
• Binding: Hardcover
• Language: English
• Number of pages: 432