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Shock Markets: Trading Lessons for Volatile Times by [Webb, Robert I., Webb, Alexander R.]
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Shock Markets: Trading Lessons for Volatile Times Kindle Edition


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Product Description

From the Back Cover

Understand Today’s High-Volatility Markets: New Trading Strategies, Real Examples, Actionable Insights

“Investors beware. By detailing many diverse and interesting extreme market events, Shock Markets proves that the real world of trading is far riskier than assumed by the old paradigm world of efficient markets. In reality, markets are chaotic with small shocks sometimes causing very large moves. Without proper risk management, these shocks can be a path to financial ruin. This critical lesson makes the book a must-read.”
Peter Matthews, PhD, Managing Partner, PJM Capital

Shock Markets presents timely and valuable lessons during a period where I’m frequently surprised and shocked. My trading rules have been reviewed and improved by reading this book.”
Jerry Parker, Founder and CEO of Chesapeake Capital

Shock Markets is a veritable bible for aspiring, as well as seasoned, traders and investors. The book takes complex economic theory and applies it to financial markets in a way that makes it accessible to the reader. Shock Markets shows through examples how a practitioner can utilize a range of market shocks as opportunities, as well as providing a blueprint for how to avoid the many pitfalls therein. I recommend Shock Markets for anyone seeking to better understand the nature of markets and how to improve trading skills, both for the professional and the layman.”
Michelle Kelner, Founder and CEO of Sandglass Capital Management

“This is a book that needs to be written. Well, it is here and delivered in a most entertaining and witty style. It is a wonderful read and hits the right balance between lessons for traders and classroom use. Great use of real-life examples to show the importance of always questioning: What is it that I know more than the market—or mark your opinion to market, not just your P&L.”
Bill Fung, Visiting Research Professor, London Business School; Chairman, Board of Directors, Maple Financial Group; Vice Chairman, Research Foundation, CFA Institute

In a world where 80% of trades are done by lightning-fast machines, and the news from China hits markets in New York before you can read a headline, trading has never been this dangerous—or potentially profitable.

We live in the age of shock markets, where sudden sharp changes are common, crashes are unavoidable, volatility is off the charts, and anything can happen. This presents great risk—and great potential reward.

Seemingly distant factors can massively and instantaneously impact prices in today’s deeply interconnected, high-speed financial markets. Shock Markets illuminates these catalysts, helping you plan and react to fads, fashions, bubbles, crashes, and market crises—and uncover profit where others find only peril.

Through detailed, moment-by-moment analysis, Robert Webb and Alexander Webb upend conventional wisdom about trading and investing—revealing surprising and little-known trading relationships:

• Why Gold lost money in the 20th century’s largest crises
• Which political actions trump economic fundamentals
• How videogame reviews create predictable, tradable shocks
• When a shock is just a shock—and when it’s the beginning of a trend
• Why humans can still win at trading

The markets are moving faster than ever before—Shock Markets keeps you ahead of the curve.

About the Author

Robert I. Webb is a Paul Tudor Jones II Research Professor at the University of Virginia. He has traded fixed income securities for the World Bank and futures on the floor of the Chicago Mercantile Exchange. He designed new financial futures and futures option contracts for the Chicago Mercantile Exchange, where he served as Senior Financial Economist. He has also served as Senior Financial Economist for both the Executive Office of the President, Office of Management and Budget, and the U.S. Commodity Futures Trading Commission. He earned his Ph.D. in finance at the University of Chicago. Webb edits The Journal of Futures Markets and is author of Trading Catalysts and Macroeconomic Information and Financial Trading.

Alexander Webb is a writer with a keen interest in finance, emerging markets, politics, business, technology, and international travel. Living in Asia for half a decade, Alex earned a baccalaureate degree in International Business and Global Management from The University of Hong Kong. He studied Mandarin at the Chinese University of Hong Kong, Beijing Language and Culture University, and at Shanghai Jiao Tong University. He also studied in Japan at Ritsumeikan Asia Pacific University. He worked as an intern at a Chicago Options trading firm and is currently working on a new book.


Product details

  • Format: Kindle Edition
  • File Size: 5190 KB
  • Print Length: 289 pages
  • Simultaneous Device Usage: Up to 5 simultaneous devices, per publisher limits
  • Publisher: FT Press; 1 edition (26 Mar. 2013)
  • Sold by: Amazon Media EU S.à r.l.
  • Language: English
  • ASIN: B00C792V86
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • Enhanced Typesetting: Enabled
  • Average Customer Review: Be the first to review this item
  • Amazon Bestsellers Rank: #1,658,640 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Most Helpful Customer Reviews on Amazon.com (beta)

Amazon.com: 5.0 out of 5 stars 4 reviews
2 of 2 people found the following review helpful
5.0 out of 5 stars Informative and entertaining, taking one beyond the myth 2 Dec. 2013
By RHL - Published on Amazon.com
Format: Kindle Edition
I have read many of Dr. Webb's books and found them informative. This text was informative and entertaining. Typically his books are very compact. This text is very complete and fun to read. It can be read from cover to cover or you can skip around. Even if you do not have a background in finance you should find this very readable. You can skip over sections that are more dense for your taste and still benefit and be entertained.

My favorite sections have to deal with "Irrational Speculation and the limits of Rational Analysis", which helps one understand seemingly irrational behavior and how one might approach it in a rational way. The examples are funny, will be new to many and make the concept easy to grasp.

Another favorite is the discussion on Gold. As is typical throughout the book this section addresses myths with facts. It puts gold in a perspective that should help many investors understand its limitations and remember them.

The book is structured to help the reader take the preceding discussions and relate them directly to "trading lessons". Consequently, it is essay to go back and review the concepts as needed. There is good advice, some of which is obvious, but becomes easier to grasp and remember given the examples that support it. For me the best piece of advice is the last brief section of the book: "Hope is not a plan". It should be obvious, but many slide into this thought process. It is a very funny and effective statement designed to help the reader focus on what is learned from the proceeding chapters.
1 of 1 people found the following review helpful
5.0 out of 5 stars Accessible yet informative, wonderful writing style! 28 Oct. 2013
By v33ness - Published on Amazon.com
Format: Hardcover
Even though I don't usually read extensively on topics dealing with finance and trading, this book was very accessible and a pleasure to read...none of the drone or dryness that you might expect. On the contrary, this book has a witty but intelligent and informed style of writing, which really helped guide me through the valuable lessons compiled by authors Alexander and Robert Webb. In addition, the reiteration and summary at the end of each chapter was a practical and useful way to make the volume organized and to the point.

All in all, I would definitely recommend this book to people who are interested in knowing more about today's trade markets in the most accessible yet informative way possible. A great read!
1 of 2 people found the following review helpful
5.0 out of 5 stars Shock markets is informative and fun to read 26 May 2013
By vcanto - Published on Amazon.com
Format: Kindle Edition
Fundamentals matter but fundamentals don't always matter immediately. Sometimes prices move opposite of what theory suggests. Other times the impact of news is fleeting like the reaction of Bear Stearns' stock to news of its "rescue." Sometimes there is plenty of time to trade off the news. Other times there is not. One lesson is that order flow, market sentiment, and gaming behavior often impact prices more in the short run than economic fundamentals. Think the short squeeze in VW shares that briefly made VW the largest company in the world in the midst of the global financial crisis of 2008. Shock Markets is loaded with actual examples drawn from the market. It is written in a down-to-earth and engaging style. This makes Shock Markets both informative and fun to read.
1 of 2 people found the following review helpful
5.0 out of 5 stars A great investment in itself! 9 May 2013
By Alyg - Published on Amazon.com
Format: Hardcover
As a budding (though occasionally naive) trader, I believe Shock Markets has provided me with the knowledge to invest more wisely and fine-tune my risk management. There are many lessons to be learnt from financial crises and Shock Markets explains them to the reader in a thoroughly enjoyable way.This is a must-read for every kind of trader!
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