How to Understand the Financial Pages: A Guide to Money and the Jargon PDF
Preview How to Understand the Financial Pages: A Guide to Money and the Jargon
i (cid:2) HOW TO UNDERSTAND THE FINANCIAL PAGES (cid:2) ii This page is intentionally left blank iii (cid:2) HOW TO UNDERSTAND THE FINANCIAL PAGES 2nd edition A Guide to Money and the Jargon Alexander Davidson London and Philadelphia (cid:2) iv Publisher’s note Every possible effort has been made to ensure that the information contained in this book is accurate at the time of going to press, and the publishers and author cannot accept responsi- bility for any errors or omissions, however caused. No responsibility for loss or damage occasioned to any person acting, or refraining from action, as a result of the material in this publication can be accepted by the editor, the publisher or the author. First published in Great Britain and the United States in 2005 by Kogan Page Limited Second edition 2008 Apart from any fair dealing for the purposes of research or private study, or criticism or review, as permitted under the Copyright, Designs and Patents Act 1988, this publication may only be reproduced, stored or transmitted, in any form or by any means, with the prior permission in writing of the publishers, or in the case of reprographic reproduction in accor- dance with the terms and licences issued by the CLA. Enquiries concerning reproduction outside these terms should be sent to the publishers at the undermentioned addresses: 120 Pentonville Road 525 South 4th Street, #241 London N1 9JN Philadelphia PA19147 United Kingdom USA www.koganpage.com © Alexander Davidson, 2005, 2008 The right of Alexander Davidson to be identified as the author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988. ISBN 978 0 7494 5144 8 The views expressed in this book are those of the author, and are not necessarily the same as those of Times Newspapers Ltd. British Library Cataloguing-in-Publication Data ACIPrecord for this book is available from the British Library. Library of Congress Cataloging-in-Publication Data Davidson, Alexander, 1957- How to understand the financial pages : a guide to money and the jargon / Alex Davidson. — 2nd ed. p. cm. Includes index. ISBN 978-0-7494-5144-8 1. Financial quotations. 2. Stock quotations. 3. Newspapers—Sections, columns, etc.— Finance. 4. Journalism, Commercial. I. Title. HG4636.D377 2008 332—dc22 2008007989 Typeset by Saxon Graphics Ltd, Derby Printed and bound in Great Britain by Cambridge University Press v (cid:2) Dedication For Gulia and Acelia with love (cid:2) vi This page is intentionally left blank vii (cid:2) Contents Acknowledgements xii Introduction 1 Part 1: Yourguide to the financial pages 1 How to understand the share price tables 5 2 More about shares 16 3 Beyond the stock market 36 4 The economy, money markets and personal finance 51 Part 2: YourA–Z guide to money and the jargon A Analysts in the stock market 63 B Bonds and fixed income 69 C Charts, patterns and reversal signals 81 D Derivatives 106 E Equities and stock picking 123 F Fiscal and tax 138 G Global economy and foreign exchange 144 H Hedging, short selling and hedge funds 163 I Insurance and pensions 168 J Jollies and freebies 187 K Key technical indicators 189 L Loss control and money management 201 M Money markets 204 N Numbers, accounting and capital adequacy 211 (cid:2) viii This page is intentionally left blank ix (cid:2) This page is intentionally left blank (cid:2) X CONTENTS _____________________________________________________ O Operating ethics and corporate governance 237 P Personal finance and property 244 Q Quotations, share issues and capital markets 255 R Regulation and compliance 265 S Securities exchanges, markets, clearing and settlement 278 T Trading and takeovers 299 U Unit trusts and similar 309 V Volume and open interest 317 W Waves, cycles, trends and Dow 319 X Exclusions 328 Y Your portfolio and the cost of capital 329 Z Z terminology 341 Appendices Appendix 1 Internet resources 355 Appendix 2 Further reading 355 Index 359 Index of advertisers 370
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