By Misha Glenny
With the cave in of the Soviet Union, the autumn of the Berlin Wall, and the deregulation of overseas monetary markets in 1989, governments and marketers alike grew to become intoxicated by way of goals of newly opened markets. yet nobody may have foreseen that the best good fortune tale to come up from those occasions could be the all over the world upward thrust of prepared crime. this present day, it's expected that unlawful alternate bills for one-fifth of the worldwide GDP.
In this fearless and entirely authoritative research of the likely insatiable call for for unlawful wares, veteran reporter Misha Glenny travels throughout 5 continents to talk with members from each point of the worldwide underworld—police, sufferers, politicians, or even the criminals themselves. What follows is a groundbreaking, propulsive examine an exceptional phenomenon from a savvy, street-wise consultant.
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Extra resources for McMafia: A Journey Through the Global Criminal Underworld
Com and www. com) can help you watch interest rates. 17 18 Part I: Getting Started with High-Level Investing Counterparty risk Look, you got this book because you wanted access to next‐level, ultra‐hot information that even many financial pros don’t know, right? Well, the concept of counterparty risk is one that remarkably few financial advisors and other people with financial acumen know. What is counterparty risk? It’s the risk that the value of your paper asset (stock, bond, currency, and so on) may lose its value due to the failed performance or promise of the company or governmental agency involved.
You probably think of scary, sudden plunges that wipe out unsuspecting investors. I’m sure that visions of tumultuous markets from the past such as 2001 or 2008 (or 1974, if you’re my uncle from Bratislava) also come up, especially if you had personal losses. So 99 out of 100 times, people consider volatility to be negative. But is it? 25 26 Part I: Getting Started with High-Level Investing Technically, volatility is a neutral event. It certainly means fast, sharp moves in the general stock market or certain stocks or measures (such as stock indexes).
As I write this, interest rate risk has a new wrinkle: the possibility of negative interest rates. Negative interest rates became a reality in Europe in early 2015. Not only are investors getting abysmally low rates, but they actually have to pay interest to hold debt! The bank actually charges you to hold money in the bank! It means that you have an account that pays no interest and regular bank fees for the simple act of having a bank account. In the United States, consider having money in more than one financial institution as a practical matter.