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Dare to Lead
by Anil K KhandelwalDare to Lead is the fascinating story of how Anil K. Khandelwal transformed Bank of Baroda (BOB) from being just another public sector bank into one of the most valuable brands in Indian banking. This is the story of the leadership challenges, management solutions and personal and professional excitement the author experienced in transforming the 97-year-old bank into a modern, tech-savvy, customer-centric bank. This book is an excellent blueprint for undertaking transformation in large, geographically dispersed public sector enterprises. It describes how a large-sized bank was transformed on all parameters with clear vision, execution discipline, customer centricity and people engagement. The author emphasizes that large-scale transformation can be undertaken successfully only if the CEO shows courage to change the status quo and mobilize the human effort within the organization. The story of BOB's transformation has captured international attention and finds its mention in Harvard Business Review, Human Resource Development International and the book The India Way by the Wharton School faculty.
Dare to Lead: Brave Work. Tough Conversations. Whole Hearts.
by Brené Brown#1 NEW YORK TIMES BESTSELLER • Brené Brown has taught us what it means to dare greatly, rise strong, and brave the wilderness. Now, based on new research conducted with leaders, change makers, and culture shifters, she&’s showing us how to put those ideas into practice so we can step up and lead.Don&’t miss the five-part Max docuseries Brené Brown: Atlas of the Heart!ONE OF BLOOMBERG&’S BEST BOOKS OF THE YEARLeadership is not about titles, status, and wielding power. A leader is anyone who takes responsibility for recognizing the potential in people and ideas, and has the courage to develop that potential.When we dare to lead, we don&’t pretend to have the right answers; we stay curious and ask the right questions. We don&’t see power as finite and hoard it; we know that power becomes infinite when we share it with others. We don&’t avoid difficult conversations and situations; we lean into vulnerability when it&’s necessary to do good work.But daring leadership in a culture defined by scarcity, fear, and uncertainty requires skill-building around traits that are deeply and uniquely human. The irony is that we&’re choosing not to invest in developing the hearts and minds of leaders at the exact same time as we&’re scrambling to figure out what we have to offer that machines and AI can&’t do better and faster. What can we do better? Empathy, connection, and courage, to start.Four-time #1 New York Times bestselling author Brené Brown has spent the past two decades studying the emotions and experiences that give meaning to our lives, and the past seven years working with transformative leaders and teams spanning the globe. She found that leaders in organizations ranging from small entrepreneurial startups and family-owned businesses to nonprofits, civic organizations, and Fortune 50 companies all ask the same question:How do you cultivate braver, more daring leaders, and how do you embed the value of courage in your culture?In Dare to Lead, Brown uses research, stories, and examples to answer these questions in the no-BS style that millions of readers have come to expect and love.Brown writes, &“One of the most important findings of my career is that daring leadership is a collection of four skill sets that are 100 percent teachable, observable, and measurable. It&’s learning and unlearning that requires brave work, tough conversations, and showing up with your whole heart. Easy? No. Because choosing courage over comfort is not always our default. Worth it? Always. We want to be brave with our lives and our work. It&’s why we&’re here.&”Whether you&’ve read Daring Greatly and Rising Strong or you&’re new to Brené Brown&’s work, this book is for anyone who wants to step up and into brave leadership.
Dare to Matter: Your Path to Making a Difference Now
by Jennifer Krause Jordan KassalowForeword by Neil Blumenthal, co-founder of Warby Parker “A beautiful, timely book that will guide you as you find your way to make a difference in the world.” —Walter IsaacsonYou don’t have to be a billionaire philanthropist, give up your day job, or wait for retirement to make a difference in the world. And you can start now. We all want to make the world a better place, but with busy, demanding lives, most of us struggle with the where, when, and how. Dr. Jordan Kassalow, founder of VisionSpring, the groundbreaking venture that has restored eyesight and hope to millions of people across the globe, has the answers: here, now, and in your own way. Sharing his personal story of integrating real-world responsibilities with his desire to make a difference, Jordan offers you a practical way forward, custom-made for your unique talents and circumstances, to take you from thought to action. By exploring key questions about your strengths and interests, personal resources, core beliefs, and most cherished values, Jordan will give you the motivation and the tools to start repairing the world in a way that is meaningful, fulfilling, and true to you. He will show you how working to create change in the lives of others can have a positive impact on your own outlook, well-being, and quality of life. In a world awash in need, it’s easy to give in to anger, frustration, and powerlessness, to let cynicism consume your natural optimism and hunger to build a better world. The soulful and pragmatic approach in this remarkable book will help you see with your heart and use your head to invest in your highest goals—while still earning a paycheck, being there for those you love, and enjoying life. To dare to matter, today.
Dare to Prepare
by Ronald M. Shapiro Gregory JordanOver the course of a forty-year career in the worlds of law, sports, business, and politics, Ron Shapiro has worked with and advised an incredible variety of people. What he’s found is that the secret ingredient for getting into the winner’s circle is simply the discipline of methodical preparation: that old-school, step-by-step way of having all your ducks in a row, whether you are an executive getting ready to do a deal or make a speech; a pitcher studying the traits of opposing hitters and keeping a meticulous notebook of their strengths and weaknesses; an international trade negotiator who knows all about the issues and the people on the other side before sitting down at the table; or a surgeon who rehearses like a classical musician. Deep down, you know you should do it. But how often do you wing it and fly by the seat of your pants because “Gosh, I don’t have time . . . I’ve done this before . . . I know what I’m doing”? It is obvious that you have to get ready for whatever game you’re playing, but all too frequently methodical preparation is the missing ingredient in today’s world of instant analysis, easy access to information, and glibness that sounds good at first but is unconnected with the reality at hand. InDare to Prepare, successful people such as wine guru Robert Parker, investment legend Bill Miller, pianist Leon Fleisher, Goldman Sachs partner Lisa Fontenelli, broadcaster Bob Costas, firefighter Ann Marie Tierney, New York Mets manager Willie Randolph, and many others share the way they apply discipline in preparing for career-changing games, deals, meetings, and interviews. Cal Ripken Jr. played thousands of games in the major leagues but prepared for each like it was his first. NPR host Liane Hansen has interviewed countless people but approaches each interview with the same meticulous research time and time again. Make sure there are no slips “twixt cup and lip” as you get ready for your next personal or professional challenge by daring to prepare. From the Hardcover edition.
Dare to Serve
by Cheryl BachelderCheryl Bachelder joined an ailing restaurant chain and turned it into the darling of the industry--by daring to serve the people in her organization well. When Bachelder was named CEO of Popeyes in the fall of 2007, guest visits had been declining for years, restaurant sales and profit trends were negative, and the company stock price had dropped from $34 in 2002 to $13. The brand was stagnant, and relations between the company and its franchise owners were strained. By 2014, average restaurant sales were up 25 percent, and profits were up 40 percent. Popeyes' market share had grown from 14 percent to 21 percent, and the stock price was over $40. The franchisees were so pleased with the turnaround that they began reinvesting in the brand, rapidly remodeling restaurants, and building new units around the world. The difference maker, Bachelder says, was a conscious decision to lead in a new way. She and her team created a workplace where people were treated with respect and dignity yet challenged to perform at the highest level. Silos and self were set aside in favor of collaboration and team play. And the results were measured with rigor and discipline. Servant leadership is sometimes derided as soft or ineffective, but this book shows that it's actually challenging and tough minded--a daring path. Bachelder takes you firsthand through the transformation of Popeyes and shows how a leader at any level can become a Dare-to-Serve leader.
Dare to Serve: How to Drive Superior Results by Serving Others
by Cheryl A BachelderThe expanded and revised edition of Dare to Serve answers the question How do you transform an ailing company into an industry darling? Adopt servant leadership!In this updated edition of Dare to Serve, former Popeyes CEO Cheryl Bachelder shows that leading by serving is a rigorous and tough-minded approach that yields the best results. When she was named CEO of Popeyes in 2007, the stock price had slipped from $34 in 2002 to $13. The brand was stagnant, the team was discouraged, and the franchisees were just plain angry. Nine years later, restaurant sales were up 45 percent, restaurant profits had doubled, and the stock price was over $61. Servant leadership is sometimes derided as soft or ineffective, but this book confirms that challenging people to reach a daring destination, while treating them with dignity, creates the conditions for superior performance. The second edition of this bestselling book includes Bachelder's post-Popeyes observations and new examples of how you can switch your leadership from self to serve. Ever engaging and inspirational, Bachelder takes you firsthand through the transformation of Popeyes and shows how anyone, at any level can become a Dare-to-Serve leader.
Dare, Dream, Do: Remarkable Things Happen When You Dare to Dream
by Whitney JohnsonWhitney Johnson, popular Harvard Business Review blogger, has a goal: to help us identify and achieve our dreams. Her belief is that we can each achieve greater happiness when focusing both on our dreams and on other people in our lives. In this inspiring book, Johnson directs her attention to teaching women, in particular, a three-step model for personal advancement and happiness. She first encourages us to DARE to boldly step out, to consider disrupting life as we know it. Then she teaches us how to DREAM, to give life to the many possibilities available, whether to start a business, run a marathon, or travel the world. She shows us how to "date" our dreams (no need to commit!) and how to make space for dreams. Finally, Whitney's model brings out the businesswoman in her; she teaches us to DO, to execute our dreams. She showcases the importance of sharing dreams with others to give them life, creating your own "dream team." Rich with real stories of women who have dared to dream, Dare, Dream, Do offers a practical framework for making remarkable things happen.
Darf ich das oder muss ich sogar?: Die Philosophie des richtigen Handelns
by Bernward GesangOb es um Weltarmut oder um Genfood geht, ob um die Erderwärmung oder die Menschenrechte, ob um Flüchtlingspolitik oder die Verteilung medizinischer Güter, - immer stoßen wir auf drängende Fragen der Moral und ihrer Entscheidung. Dieses Buch bietet keine Patentrezepte für richtiges Handeln, führt aber in alle wichtigen Begriffe und Grundlagen ethischen Denkens und in die Werkzeuge zur Entscheidungsfindung ein. Auf der Basis einer praktisch orientierten utilitaristischen Interessensethik findet der Autor originelle Antworten auf viele wichtige Fragen der Gegenwart.
Daring & Disruptive: Unleashing the Entrepreneur
by Lisa MessengerVibrant, game-changing CEO Lisa Messenger shares an insightful account of her rollercoaster ride as the creator and founder of the globally popular Collective Hub, the hip magazine of inspiration for disrupters and innovators of all stripes--with bold ideas on how you can stay on track and remain true to whatever your passion may be.Speaking to the new generation of innovators, game changers, and disrupters who want to succeed in a fast changing and often vexing world, Daring and Disruptive: Unleashing the Entrepreneur is a personal and honest chronicle of Lisa Messenger's various business endeavors, including her shrewd launch of her innovative entrepreneurial magazine, Collective Hub. Exuding honesty and energy, Lisa blends these wonderfully insightful stories with important business lessons she has learned along the way, such as how she empowered herself in ways that helped her harness her creativity, disrupt the system, and be fearless in all of her endeavors. Inspiring as well as instructive, Messenger's book offers up other big-think insights such as: -Invest in yourself -Know your "why" -Realize that failure is another word for experience -Break free of the traditional thinking around what a career should look like Whether you're a budding entrepreneur, corporate ladder-climber, or a seasoned business owner, Daring and Disruptive is a powerful and practical guide that can help you dig deep, stay on message, and stay true to your ideas in challenging times (so if you're thrown to the wolves, you'll have the strength to come out leading the pack).
Daring to Compete: Accelerate your business to market leadership with EY's 7 Drivers of Growth
by Diane Foreman Bryan Pearce Geoffrey GoddingDaring to Compete offers real-world strategies to accelerate the growth of your business and secure your place as a market leader. This expert guide is the result of years of comprehensive research and experience from global professional services organization EY, originator of the celebrated “Entrepreneur Of The Year” program. Employing its worldwide reach and extensive network of successful entrepreneurs, EY has developed a model of sustainable business development—“The 7 Drivers of GrowthTM.” This innovative and highly effective approach to strategic growth is an invaluable resource for high-growth businesses, entrepreneurs, and start-ups. Favoring practical strategies over abstract theories, this book provides clear guidance on the Customer; Funding and Finance; Transactions and Alliances; Risk; People, Behaviors, and Culture; Digital Technology and Analytics; and Operations. This book brings the application of these drivers to life by featuring insights from Entrepreneur Of The Year award-winning entrepreneurs from a wide range of industries and geographic locations. These entrepreneurs share how each driver functions in actual business situations and present first-hand advice on their application and implementation.
Daring to Look: Dorothea Lange’s Photographs and Reports from the Field
by Anne Whiston SpirnNear the end of her career, Dorothea Lange lamented, "No country has ever closely scrutinized itself visually... I know what we could make of it if people only thought we could dare look at ourselves." Lange, however, did look, unflinchingly turning her lens on the despair, degradation, and greed unleashed by the Great Depression, and her photographs for the New Deal's Farm Security Administration have become the defining images of that time, capturing a country and a people on the brink of cataclysmic change. But the iconic images we all know don't come close to telling the whole story. Lange viewed her photographs as part of sequenced narratives, contextualized and enriched by her descriptive captions-- without which, she wrote, "half the value of fieldwork is lost." Daring to Look presents never-before-published photos and captions from Lange's fieldwork in California, the Pacific Northwest, and North Carolina during 1939. Lange's images of squatter camps, benighted farmers, and stark landscapes are stunning, and her captions-- which range from simple explanations of settings to historical notes and biographical sketches--add unexpected depth, bringing her subjects and their struggles unforgettably to life, often in their own words. When Lange was dismissed from the Farm Security Administration at the end of 1939, these photos and field notes were consigned to archives, where they languished, rarely seen. With Daring to Look, Anne Whiston Spirn not only returns them to the public eye, but sets them in the context of Lange's pioneering life, work, and struggle for critical recognition-- firmly placing Lange in her rightful position at the forefront of American photography.
Dark Aeon: Transhumanism and the War Against Humanity
by Joe AllenHumanity Is Consumed by Relentless Transformation Like a thief in the night, artificial intelligence has inserted itself into our lives. It makes important decisions for us every day. Often, we barely notice. As Joe Allen writes in this groundbreaking book, &“Transhumanism is the great merger of humankind with the Machine. At this stage in history, it consists of billions using smartphones. Going forward, we&’ll be hardwiring our brains to artificial intelligence systems.&” The world-famous robot, Sophia, symbolizes a rising techno-religion. She takes her name from the goddess—or Aeon—whose fall from grace is described in the Gnostic Gospels. With an academic background in both science and theology, Allen confronts the paradox of what he calls &“good people constructing a digital abomination.&” Dark Aeon is nothing less than a cri de coeur for humanity itself. He takes us on a roller coaster ride through history and the emergence of Scientism, and from government-mandated mRNA vaccines to the weird visions of cyborg billionaires like Elon Musk. From Silicon Valley to China, these globalists&’ visions of humanity&’s future, exposed and described in Dark Aeon, are dire and terrifying. But Joe Allen argues that humanity&’s salvation is within our grasp. Only if we refuse to avert our eyes from the impending twilight before us.
Dark Age Ahead
by Jane JacobsIn this indispensable book, urban visionary Jane Jacobs--renowned author of The Death and Life of Great American Cities and The Economy of Cities--convincingly argues that as agrarianism gives way to a technology-based future, we stand on the brink of a new dark age, a period of cultural collapse. Jacobs pinpoints five pillars of our culture that are in serious decay: community and family; higher education; the effective practice of science; taxation, and government; and the self-regulation of the learned professions. The corrosion of these pillars, Jacobs argues, is linked to societal ills such as environmental crisis, racism, and the growing gulf between rich and poor. But this is a hopeful book as well as a warning. Drawing on her vast frame of reference-from fifteenth-century Chinese shipbuilding to Ireland's cultural rebirth-Jacobs suggests how the cycles of decay can be arrested and our way of life renewed. Invigorating and accessible, Dark Age Ahead is not only the crowning achievement of Jane Jacobs' career, but one of the most important works of our time.From the Trade Paperback edition.
Dark Ages America: The Final Phase of Empire
by Morris BermanIn Dark Ages America, the pundit Morris Berman argues that the nation has entered a dangerous phase in its historical development from which there is no return. As the corporate-consumerist juggernaut that now defines the nation rolls on, the very factors that once propelled America to greatness--extreme individualism, territorial and economic expansion, and the pursuit of material wealth--are, paradoxically, the nails in our collective coffin. Within a few decades, Berman argues, the United States will be marginalized on the world stage, its hegemony replaced by China or the European Union. With the United States just one terrorist attack away from a police state, Berman's book is a controversial and illuminating look at our current society and its ills.
Dark Calories: How Vegetable Oils Destroy Our Health and How We Can Get It Back
by Catherine ShanahanThe New York Times bestselling author of Deep Nutrition explains how eight common seed oils cause the cellular damage that underlies virtually all chronic disease, exposes the corruption that deceives doctors and consumers alike, and gives us a clear roadmap to recovery and rejuvenation.Did you know that consuming a large serving of french fries—cooked in vegetable oil—delivers the toxicity of smoking 24 cigarettes? Cornell-trained biochemist turned family physician Dr. Cate Shanahan introduces us to well-respected scientists who warn that vegetable oils are a public health disaster, wreaking havoc on our bodies&’ cells by depleting antioxidants and promoting free radical toxicity. Their many effects include: Uncontrollable hunger, so we need drugs to maintain our weight Inflammatory fat buildup under our skin and within our internal organs and arteries Blood sugar swings that promote bad moods and antisocial behavior Disrupted brain energy, concentration problems, and mental illnesses Intracellular oxidative stress that promotes cancer development Gut inflammation, bloating, heartburn, and the runs Americans were enticed into buying these oils based on their cholesterol-lowering property, but the idea that cholesterol-lowering is beneficial was pushed on us without solid evidence to support it. In Dark Calories, Dr. Cate reveals the financial entanglements between industry and underhanded academics who created and sustain our 1950s-era, arbitrary dietary rules. As a solution, she proposes a clear, no-nonsense plan that aligns with our genetic needs and nature&’s laws. Thankfully, recovering our health is simplified by the fact that nutrients that treat one condition also tend to treat all the rest. As an added bonus, we also revive our sense of taste so that our cravings shift to wholesome, nourishing foods instead.
Dark Commerce: How a New Illicit Economy Is Threatening Our Future
by Louise I. ShelleyA comprehensive look at the world of illicit trade Though mankind has traded tangible goods for millennia, recent technology has changed the fundamentals of trade, in both legitimate and illegal economies. In the past three decades, the most advanced forms of illicit trade have broken with all historical precedents and, as Dark Commerce shows, now operate as if on steroids, tied to computers and social media. In this new world of illicit commerce, which benefits states and diverse participants, trade is impersonal and anonymized, and vast profits are made in short periods with limited accountability to sellers, intermediaries, and purchasers.Louise Shelley examines how new technology, communications, and globalization fuel the exponential growth of dangerous forms of illegal trade—the markets for narcotics and child pornography online, the escalation of sex trafficking through web advertisements, and the sale of endangered species for which revenues total in the hundreds of millions of dollars. The illicit economy exacerbates many of the world’s destabilizing phenomena: the perpetuation of conflicts, the proliferation of arms and weapons of mass destruction, and environmental degradation and extinction. Shelley explores illicit trade in tangible goods—drugs, human beings, arms, wildlife and timber, fish, antiquities, and ubiquitous counterfeits—and contrasts this with the damaging trade in cyberspace, where intangible commodities cost consumers and organizations billions as they lose identities, bank accounts, access to computer data, and intellectual property.Demonstrating that illicit trade is a business the global community cannot afford to ignore and must work together to address, Dark Commerce considers diverse ways of responding to this increasing challenge.
Dark Finance: Illiquidity and Authoritarianism at the Margins of Europe
by Fabio MattioliDark Finance offers one of the first ethnographic accounts of financial expansion and its political impacts in Eastern Europe. Following workers, managers, and investors in the Macedonian construction sector, Fabio Mattioli shows how financialization can empower authoritarian regimes—not by making money accessible to everyone, but by allowing a small group of oligarchs to monopolize access to international credit and promote a cascade of exploitative domestic debt relations. The landscape of failed deals and unrealizable dreams that is captured in this book portrays finance not as a singular, technical process. Instead, Mattioli argues that finance is a set of political and economic relations that entangles citizens, Eurocrats, and workers in tense paradoxes. Mattioli traces the origins of illiquidity in the reorganization of the European project and the postsocialist perversion of socialist financial practices—a dangerous mix that hid the Macedonian regime's weakness behind a façade of urban renewal and, for a decade, made it seem omnipresent and invincible. Dark Finance chronicles how, one bad deal at a time, Macedonia's authoritarian regime rode a wave of financial expansion that deepened its reach into Macedonian society, only to discover that its domination, like all speculative bubbles, was teetering on the verge of collapse.
Dark Genius of Wall Street: The Misunderstood Life of Jay Gould, King of the Robber Barons
by Edward J. Renehan Jr.Though reviled for more than a century as Wall Street's greatest villain, Jay Gould was in fact its most original creative genius. Gould was the robber baron's robber baron, the most astute financial and business strategist of his time and also the most widely hated. In Dark Genius of Wall Street, acclaimed biographer Edward J. Renehan, Jr. , combines lively anecdotes with the rich social tapestry of the Gilded Age to paint the portrait of the most talented financial buccaneer of his generation-- and one of the inventors of modern business.
Dark Horse: Achieving Success Through the Pursuit of Fulfillment
by Ogi Ogas Todd RoseFor generations, we've been stuck with a cookie-cutter mold for success that requires us to be the same as everyone else, only better. This "standard formula" works for some people but leaves most of us feeling disengaged and frustrated. As much as we might dislike the standard formula, it seems like there's no other practical path to financial security and a fulfilling life. But what if there is? In the Dark Horse Project at the Harvard Graduate School of Education, bestselling author and acclaimed thought leader Todd Rose and neuroscientist Ogi Ogas studied women and men who achieved impressive success even though nobody saw them coming. Dark horses blaze their own trail to a life of happiness and prosperity. Yet what is so remarkable is that hidden inside their seemingly one-of-a-kind journeys are practical principles for achieving success that work for anyone, no matter who you are or what you hope to achieve. This mold-breaking approach doesn't depend on you SAT scores, who you know, or how much money you have. The secret is a mindset that can be expressed in plain English: Harness your individuality in the pursuit of fulfillment to achieve excellence. In Dark Horse, Rose and Ogas show how the four elements of the dark horse mindset empower you to consistently make the right choices that fit your unique interests, abilities, and circumstances and will guide you to a life of passion, purpose, and achievement.
Dark Justice: Inside the World of Paedophile Hunters
by Mark de RondIt is difficult to imagine a more heinous crime than the sexual abuse of children. Yet, terrifyingly, a new case of child sexual abuse is reported every seven minutes. In response to this crisis, self-appointed groups of citizens are fashioning themselves as 'paedophile hunters.' Operating outside the law, these groups use social media to bait and expose those seeking to engage children sexually, both on- and offline. Their work has been remarkably effective, but at what cost? Following four years of unprecedented access to the UK's most prolific team of paedophile hunters, Mark de Rond offers balanced and insightful answers to the perplexing question of why these groups persist in using extreme methods to hold predators to account in view of less harmful alternatives. In doing so, he invites us to consider the societal impacts of paedophile hunters on our laws and institutions, as well as societal cohesion and safety.
Dark Leadership: Narzisstische, machiavellistische und psychopathische Führung (essentials)
by Marco FurtnerMarco Furtner gibt in diesem essential eine verst#65533;ndliche Einf#65533;hrung in die Eigenschaften und Konsequenzen der dunklen F#65533;hrung. Er nimmt eine differenzierte Betrachtung von Dark Leadership vor, da sich sowohl positive als auch negative Effekte auf die Mitarbeitenden und die Organisation zeigen k#65533;nnen. Die helle und relativ selbstlose Seite von F#65533;hrung repr#65533;sentiert einen Helden, w#65533;hrend die dunkle Seite einen nach Macht strebenden Antihelden beschreibt. Dunkle F#65533;hrungskr#65533;fte haben gemeinsam, dass sie selbsts#65533;chtig, emotional kalt und manipulativ sind sowie nach Macht und sozialer Dominanz streben. Sie verfolgen unabl#65533;ssig und kompromisslos das Ziel, m#65533;chtige und prestigereiche F#65533;hrungspositionen in Organisationen zu erlangen. Dadurch kann angenommen werden, dass eine wesentliche Zahl von F#65533;hrungspositionen mit Dark Leadership-F#65533;hrungstendenzen besetzt sind.
Dark Markets: Asset Pricing and Information Transmission in Over-the-Counter Markets (Princeton Lectures in Finance #6)
by Darrell DuffieA concise introduction to modeling over-the-counter marketsOver-the-counter (OTC) markets for derivatives, collateralized debt obligations, and repurchase agreements played a significant role in the global financial crisis. Rather than being traded through a centralized institution such as a stock exchange, OTC trades are negotiated privately between market participants who may be unaware of prices that are currently available elsewhere in the market. In these relatively opaque markets, investors can be in the dark about the most attractive available terms and who might be offering them. This opaqueness exacerbated the financial crisis, as regulators and market participants were unable to quickly assess the risks and pricing of these instruments.Dark Markets offers a concise introduction to OTC markets by explaining key conceptual issues and modeling techniques, and by providing readers with a foundation for more advanced subjects in this field. Darrell Duffie covers the basic methods for modeling search and random matching in economies with many agents. He gives an overview of asset pricing in OTC markets with symmetric and asymmetric information, showing how information percolates through these markets as investors encounter each other over time. This book also features appendixes containing methodologies supporting the more theory-oriented of the chapters, making this the most self-contained introduction to OTC markets available.
Dark Pools
by Erik BanksDark Pools is a practical text dealing with the increasingly important topic of dark pools, or non-displayed, off-exchange trading and liquidity. A growing amount of institutional trading occurs away from exchanges and expansion in this little understood sector of the market is set to continue. The book is organized in three parts: Market Structure, Micro Issues, and Environment of the Future. The first chapters consider the development and evolution of the equity trading marketplace over the past two decades, including the creation of dedicated dark pool platforms, and introduce the concept of market liquidity, the formation of displayed and non-displayed orders, and the operation and structure of key dark pools. Attention then turns to the architecture of a typical dark pool, and how orders are routed to capture dimensions of non-displayed liquidity. This is followed by an analysis of the pricing and economics of dark liquidity and common trading strategies employed by institutions - including dark algorithms, high frequency trading and the controversial mechanism of 'gaming. ' The final chapters analyze the regulatory and control framework and consider how dark pools may evolve in a post-financial crisis world.
Dark Pools and High Frequency Trading For Dummies
by Jay VaananenA plain English guide to high frequency trading and off-exchange trading practices In Dark Pools & High Frequency Trading For Dummies, senior private banker Jukka Vaananen has created an indispensable and friendly guide to what really goes on inside dark pools, what rewards you can reap as an investor and how wider stock markets and pricing may be affected by dark pools. Written with the classic For Dummies style that has become a hallmark of the brand, Vaananen makes this complex material easy to understand with an insider's look into the topic. The book takes a detailed look at the pros and the cons of trading in dark pools, and how this type of trading differs from more traditional routes. It also examines how dark pools are currently regulated, and how the regulatory landscape may be changing. Learn what types of dark pools exist, and how a typical transaction works Discover the rules and regulations for dark pools, and some of the downsides to trading Explore how dark pools can benefit investors and banks, and who can trade in them Recognize the ins and outs of automated and high frequency trading Because dark pools allow companies to trade stocks anonymously and away from the public exchange, they are not subject to the peaks and troughs of the stock market, and have only recently begun to take off in a big way. Written with investors and finance students in mind, Dark Pools & High Frequency Trading For Dummies is the ultimate reference guide for anyone looking to understand dark pools and dark liquidity, including the different order types and key HFT strategies.
Dark Pools: The Rise of A. I. Trading Machines and the Looming Threat to Wall Street
by Scott PattersonA news-breaking account of the global stock market's subterranean battles, Dark Pools portrays the rise of the "bots"- artificially intelligent systems that execute trades in milliseconds and use the cover of darkness to out-maneuver the humans who've created them.In the beginning was Josh Levine, an idealistic programming genius who dreamed of wresting control of the market from the big exchanges that, again and again, gave the giant institutions an advantage over the little guy. Levine created a computerized trading hub named Island where small traders swapped stocks, and over time his invention morphed into a global electronic stock market that sent trillions in capital through a vast jungle of fiber-optic cables. By then, the market that Levine had sought to fix had turned upside down, birthing secretive exchanges called dark pools and a new species of trading machines that could think, and that seemed, ominously, to be slipping the control of their human masters. Dark Pools is the fascinating story of how global markets have been hijacked by trading robots--many so self-directed that humans can't predict what they'll do next.