Extensively revised and updated following the fallout from the global financial crisis, the sixth edition of this highly regarded book brings the reader right up to speed with the latest financial market developments, and provides a clear and incisive guide to a complex world that even those who work in it often find hard to understand. With chapters on the markets that deal with money, foreign exchange, equities, bonds, commodities, financial futures, options and other derivatives, it looks at why these markets exist, how they work and who trades in them, and it gives a run-down of the factors that affect prices and rates. Business history is littered with disasters that occurred because people involved their firms with financial instruments they didn't properly understand. If they had had this book they might have avoided their mistakes. For anyone wishing to understand financial markets, there is better guide.
Marc Levinson is a former finance and economics editor of The Economist. He was previously a senior writer at Newsweek and more recently spent ten years as an economist with JPMorgan Chase. He has published widely on economic subjects in such journals as Harvard Business Review and Foreign Affairs, and is currently senior fellow in international business at the Council on Foreign Relations in New York.