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Table of Contents
Intro; Dedication; Preface; Disclaimer; Contents; List of Figures; Introduction; Bibliography; Part I: The Current Paradigm; 1: Working with the Wrong Tools; Differential Analysis; Probability Theory; The Concept of Liquidity; Deficient Liquidity Structures; Variation No. 1: Fractional Reserve Banking; Variation No. 2: Shadow Banking; Variation No. 3: Commodity ETFs; Variation No. 4: Clearinghouses (with Physical Delivery); High-Frequency Trading; Sovereign Risk; Fallacy No.1: Creditors Are Safe as Sovereigns Do Not Vanish; Fallacy No. 2: You Collect More from a Sovereign
Fallacy No. 3: Sovereign Debt in Local Currency Cannot DefaultCorrelation (or Modern Portfolio Theory); Conclusion; Appendix; Aesthetics in Infinitesimal Analysis; Aesthetics in General Equilibrium Theory; A Word on Indeterminacy; Bibliography; Part II: Fundamentals; 2: Asset Allocation Is Intertemporal Preference; Intertemporal Preference; Conclusion; Capital; Derivatives, Commodities Are Not Investing Assets; Investments Versus Trades; Bibliography; 3: Turing's Decidability; Formalization of Entrepreneurship Is an Error; Decidability and Finance; Decidability and Capital Structure
Portfolio ConstructionMezzanine Investing: Avoid It; Appendix I: Monetary Policy and Capital Structure; Appendix II: Decidability and Economies of Scale; Bibliography; 4: Equity; Limited Liability; Insider Information; Conclusion; Bibliography; 5: Debt; Labour; Private Debt; Borrowing Causes; Repayment; Discouragement to Default; Bilateral Loans; Private Placements; Syndicated Loans; Corporate Bonds; Bibliography; 6: Institutions; Private Institutions; The Irregular Deposit; The Loan; Money; Gold; Intervention of the Gold Market; Banking and Financial Intermediation; Virtual Currencies
Innovation in Institutions Public Institutions; Bibliography; Part III: Economic Concepts; 7: Systemic Risk; Gold Standard; Gold Exchange Standard; How It All Began; How Adjustments Worked Under the Gold Standard; How Adjustments Worked Under the Gold Exchange Standard; How the Perspective Changed as the United States Became a Debtor Nation; How Adjustments Work Without Currency Swaps; How Adjustments Work Today, with Currency Swaps; Conclusion: There Are No Black Swans; Bibliography; 8: Inflation and Hyperinflation; The Concept of Inflation; Hyperinflation or How Central Banks Lose Control
Addendum Bibliography; 9: Real Capital Assets; Movable Real Assets; Cattle; Wine; Unmovable Real Assets; Forests; Residential Real Estate; Farmland; Bibliography; 10: Economic Growth; When Did This All Begin?; Roy F. Harrod; Evsey D. Domar; James Tobin; Robert Solow; But What Is Economic Growth?; Implications for the Investor; Bibliography; Final Comments; Bibliography; Index
Fallacy No. 3: Sovereign Debt in Local Currency Cannot DefaultCorrelation (or Modern Portfolio Theory); Conclusion; Appendix; Aesthetics in Infinitesimal Analysis; Aesthetics in General Equilibrium Theory; A Word on Indeterminacy; Bibliography; Part II: Fundamentals; 2: Asset Allocation Is Intertemporal Preference; Intertemporal Preference; Conclusion; Capital; Derivatives, Commodities Are Not Investing Assets; Investments Versus Trades; Bibliography; 3: Turing's Decidability; Formalization of Entrepreneurship Is an Error; Decidability and Finance; Decidability and Capital Structure
Portfolio ConstructionMezzanine Investing: Avoid It; Appendix I: Monetary Policy and Capital Structure; Appendix II: Decidability and Economies of Scale; Bibliography; 4: Equity; Limited Liability; Insider Information; Conclusion; Bibliography; 5: Debt; Labour; Private Debt; Borrowing Causes; Repayment; Discouragement to Default; Bilateral Loans; Private Placements; Syndicated Loans; Corporate Bonds; Bibliography; 6: Institutions; Private Institutions; The Irregular Deposit; The Loan; Money; Gold; Intervention of the Gold Market; Banking and Financial Intermediation; Virtual Currencies
Innovation in Institutions Public Institutions; Bibliography; Part III: Economic Concepts; 7: Systemic Risk; Gold Standard; Gold Exchange Standard; How It All Began; How Adjustments Worked Under the Gold Standard; How Adjustments Worked Under the Gold Exchange Standard; How the Perspective Changed as the United States Became a Debtor Nation; How Adjustments Work Without Currency Swaps; How Adjustments Work Today, with Currency Swaps; Conclusion: There Are No Black Swans; Bibliography; 8: Inflation and Hyperinflation; The Concept of Inflation; Hyperinflation or How Central Banks Lose Control
Addendum Bibliography; 9: Real Capital Assets; Movable Real Assets; Cattle; Wine; Unmovable Real Assets; Forests; Residential Real Estate; Farmland; Bibliography; 10: Economic Growth; When Did This All Begin?; Roy F. Harrod; Evsey D. Domar; James Tobin; Robert Solow; But What Is Economic Growth?; Implications for the Investor; Bibliography; Final Comments; Bibliography; Index