Intended for the lay reader, this book explains the workings of the London Stock Exchange, banks and pension funds, building societies, foreign exchanges and all those institutions that make up that nebulous body, "The City". The actions of these bodies have a major effect of the life of everyone, but most people have only the haziest idea how they work. This is a guide to high finance: it explains the means by which billions of pounds are borrowed and invested every day. It shows how the Foreign Exchange works and why interest rates fluctuate. The reader of this book will learn what "tombstones" are, what the FT 100 share index tells you, the difference between "forward cover" and "hedging" and what dollar denominated payments are.
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What happens in the City affects almost every aspect of our lives. In this excellent guide, now completely revised and updated for this fourth edition, a leading financial journalist cuts through the myths and scandals that make the news to explain the nuts and bolts of the financial system. How are the big deals made? What radical changes will the Euro bring about? Which are the institutions that really matter? What causes the pound to rise or interest rates to fall? Philip Coggan provides clear and concise answers to many such questions; he also shows why they are of central concern to all of us.Review:
If you are looking for an immediately practical book, then the best basic guide continues to be THE MONEY MACHINE. -- FINANCIAL TIMES
Philip Coggan's excellent primer on the City.
-- LONDON REVIEW OF BOOKS, John Lanchester
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Book Description Penguin UK, 1987. Paperback. Book Condition: New. Bookseller Inventory # P110140091130