Author: Mark Tier
Trading books are subject to gains and losses as prices of the included securities change. Since these securities are held by the financial institution, and not by individual investors, these gains and losses impact the financial health of the institution directly.
- Trading books are a form of accounting ledger that contains records of all tradeable financial assets of a bank.
- Trading books are subject to gains and losses that affect the financial institution directly.
- Losses in a bank’s trading book can have a cascading effect on the global economy, such as those that occurred during the 2008 financial crisis.
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Warren Buffett, Carl Icahn, and George Soros all started with nothing—and made billion-dollar fortunes solely by investing. But their investment strategies are so widely divergent, what could they possibly have in common?
As Mark Tier demonstrates in this insightful book, the secrets that made Buffet, Icahn, and Soros the world’s three richest investors are the same mental habits and strategies they all practice religiously. However, these are mental habits and strategies that fly in the face of Wall Street’s conventional mindset. For example:
-Buffett, Icahn, and Soros do not diversify. When they buy, they buy as much as they can.
-They’re not focused on the profits they expect to make. Going in, they’re not investing for the money at all.
-They don’t believe that big profits involve big risks. In fact, they’re far more focused on not losing money than making it.
-Wall Street research reports? They never read them. They’re not interested in what other people think. Indeed, Buffett says he only reads analyst reports when he needs a laugh.
In Becoming Rich you can discover how the mental habits that guided your last investment decision stack up against those of Buffett, Icahn, and Soros. Then learn exactly how you can apply the wealth-building secrets of the world’s richest investors to transform your own investment results.
Get: Mark Tier – Becoming Rich