Best financial interest books according to redditors

This is what I consider the Fixed Income Bible. It's literally written so anyone from professionals to newcomers can understand. I've also seen professionals use it as reference guide.

After reading that, move to this one. FI is all about rates and understanding rate derivs is an important aspect for trading them. This book'll show you how IRS are priced, swaptions, etc. Good one too and high recommend.

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If you're looking for more esoteric material, that's only published by the big banks like JPM, DB, BofAML, etc.. Hard to find it on Amazon.

Assessing leveraged finance deals in what way? If you want to understand the principal deal points and legal structure, the general range of terms found in leveraged finance documents, and how they work, I would suggest you look at some of the resources published by the LSTA. For example, its guide to credit agreements:

https://smile.amazon.com/LSTAs-Complete-Credit-Agreement-Second/dp/1259644863

If you want to understand the economics of a particular agreement (which, depending on how complex some of the terms and deal points are, may require at least a high-level understanding of the relevant legal provisions), and how to model their expected returns, Kricheff’s “Pragmatist’s Guide” is a decent place to start:

https://smile.amazon.com/Pragmatists-Guide-Leveraged-Finance-paperback/dp/0133552764

Despite it being a focus of much of my undergraduate work, I never wound up working as an actuary, but I still do financial consulting.

As for study materials, it is hard to judge what to recommend for you on the probability and statistics side, because I have no idea what you already know.

For the second exam (the financial one), you might want to start with The Theory of Interest by Stephen Kellison. It is a particularly dreadful book, but it does cover everything you need to know.

Right on man - I absolutely LOVE your documentary. I've lived here all my life and I'm 48 now and I think your video really captured a lot of the cool things we have going on in this city. It's honestly amazing the transformation we've undergone.

From the bottom of my heart - Thank you for your work!

I think the story of this transformation is quite interesting and unique and I don't think it's been covered by any documentarian. hint hint I would love to see you do another documentary on this story.

Here's a very brief review of what's happened but just know that this story is filled with political maneuvering, shady contractors, corruption and the rise of the "good people" over the corruption to create some amazing things! What is so amazing about this transformation is HOW we've done it.

The story starts with the collapse of Penn Square Bank back in the early 80s. It literally plunged our city into a deep recession that took a decade or more to recover. Housing prices plummeted, unemployment skyrocketed, business closed and we had strip mall after strip mall that were like 90% empty. The city was in horrible shape. The collapse was also covered in a couple of books. One named Belly Up and the other named Funny Money

The recovery didn't really happen until we realized that no one was coming to save us - we were on our own. If we wanted new things and a better city in which to live, we were going to have to do something about it because no one else was.

It all started with the passage of MAPS 1 in the early 90s, which imposed a 1 penny sales tax, for a fixed term. There were numerous projects identified and publicized but people were skeptical. We hadn't really been in a "growth" mindset for over a decade and were more in survival mode.

There were lots of people that said things like, "We don't need a ditch through Bricktown." and when people mentioned San Antonio's river walk, they still weren't moved. After all, our govt hadn't really done anything to help the citizens out so the pessimism was VERY high. Lots of people thought the money would be squandered or lost and we would be right back where we started.

They had good reason to think this way because way back in the 70s and 80s there was a massive urban renewal program pitched to the city where lots of old buildings would be knocked down with new ones put up in their place. Well they knocked down the buildings but never built the new ones. SOOOOOOO many people were skeptical.

But MAPS 1 passed and we were on our way!

We built a brand new ballpark for our AAA baseball team, we built the bricktown canal and purchased the boats - hard to believe the canal didn't used to be there. We cleaned up and damed the North Canadian river and renamed it the Oklahoma River, where those olympic hopeful rowers come to train. We built the Chesapeake Arena and revamped our convention center. I think there might have been a few more projects but I can't recall exactly.

Now here's the best part - we got all that new stuff DEBT FREE! Most cities issue bonds to build things like this but we paid cash for them. This is still something people from out of town have a hard time believing.

However all of that progress could have been derailed because of corruption and shady contractors. Once money started flowing into the coffers and projects were started, there were rumors of some seriously shady shit going on. It seemed to me, as an ordinary citizen, that it was quite possibly on the verge of being one big boondoggle. However there were a few people that stepped in and got it all straightened out. Men like Ron Norrick and many, many others took control and there was a MAPS oversight board created and the projects got back on track.

It was so successful we passed MAPS2 (dubbed MAPS For Kids) that paid for brand new schools, upgraded equipment in the classrooms and much, much more.

In 2009 amid the worst economic downturn since the great depression, we passed MAPS 3. It seems to be moving quite slowly but there is traction. This is amazing to me because at the time many people were worried about their jobs, Aubrey McClendon was the highest paid CEO in the nation and had made some VERY controversial moves, the OKC Thunder were on their way to OKC from Seattle amid many rumors of shady dealings, leaked emails and all that and the police officers were wanting MAPS 3 to provide some much needed funding for their future and many people thought we simply shouldn't be doing any of this when the economy has just crashed....but we passed it!!

We're now building a first class white water rowing facility, we're going to be putting in a light rail system, we'll expand the Myriad Gardens down to the river, build a new convention center and more.

I could go on and on but seriously - the story from the early to mid 80s up to now is one that a lot of people don't know about but it quite compelling.

Anyways - would love to see your documentary on that story!

The book I use as reference for the material I posted notes on: Mathematical Interest Theory. It's a mediocre book but it gets the job done. My notes cover less than half of what you need to know for FM/2.

My favorite book on finance: John Hull - Options, Futures, and Other Derivatives. This is a must-have for anybody going into finance. Also covers some of the stuff in FM exam.

This. And his second book https://www.amazon.com/Advanced-Techniques-Day-Trading-Probability/dp/1721151265/ref=mp_s_a_1_1?ie=UTF8&qid=1539452280&sr=8-1&pi=AC_SX236_SY340_QL65&keywords=andrew+aziz+books&dpPl=1&dpID=41Ofy1obp4L&ref=plSrch

In regards to why Americans refer to social democratic parties as socialists, it has a lot to do with Americans just not knowing what socialism is.

A lot of the Cold War propaganda portrayed communism/socialism as being defined by an over-arching, authoritarian government. So this idea of communism/socialism being defined by the amount of government involvement eventually turned into there being a divide between the communism of the USSR/People's Republic of China and the "socialism" of the Nordic countries (even though this is actually social democracy) in the minds of the American people. The reason for this being that since the government has a lot of involvement in the economy and social safety nets they must be socialist because no "true" capitalist government would be that involved.

This sort of thinking is still pretty influential, in the United States, today. Many high school and college textbooks (particularly McGraw-Hill's "Understanding Business" textbook) will reinforce this "communism vs. socialism" divide, where they'll define socialism as being something along the lines of "an economic system based on the idea that some basic businesses should be owned by the government so that profits can be more evenly distributed among the people" while defining communism as being something along the lines of "an economic system where the government makes most of the economic decisions and owns most of the means of production".

Another aspect of this is that because of the McCarthy trials, the terms "communist" and"socialist" became bad words, leading to those words being used as insults (usually by American conservatives) against anybody that wants to have more government involvement. So since social democrat parties advocate for more government involvement than your average neoliberal, American conservative deems necessary, they're stereotyped as being "socialists", and unfortunately, the classification has stuck.

when someone buys property, they have to pay property taxes on said property. Sometimes people (for whatever reason) go delinquent on their property taxes. When this goes on long enough, the county puts tax deeds up to auction on properties with delinquent taxes. Basically, you buy up that tax debt, and in return, the county pays you 16+% (16% is the standard, in my county it's 18%) interest on your investment. Also, if i'm not mistaken, after you've bought up a few years of tax deeds on a certain property, you can request the property itself go to auction, where you could actually end up owning that property for auction prices. I might be comingling tax certificates with tax deeds, so you should do your own independent research on this topic. But it's definitely worth looking into.

The 16% solution - book

Source.

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