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Fabozzi and Modigliani take you in complete tour through capital markets. In the early chapters you will find valuable information about financial systems and institutions, about how the primary and secondary markets work, among many other issues.
Then the book explains debt and equity markets, finishing in the later chapters with great explanations on derivatives markets.
Definitely, I made a great investment in buying this book.
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While reading it, I couldn't help but compare it to Arthur Hailey novels like "Wheels" or "Airport", because this is the story of an industry told through the eyes of real people with their own foibles, loves, and idiosyncrasies. Laura Jadwin, nee Dearborn, tells most of the story. Her inner conflict between self-centered materialism and desire for "perfect" love forms the backdrop to the financial saga enmeshing her husband, Curtis. All in all, this is a good read but may move too slowly for some people--except for the climax of Jadwin's corner of the wheat market, which is as fast-paced as a Clancy novel.
After marrying Laura, the conservative speculator, after making a nice profit on the wheat market, becomes obsessive over controlling it. As the story unfolds, his wealth grows in a short period of time and for a while he captures the market. Ultimately, though, the market corrects itself and he must save his fortune as well as his wife, Laura, whose love begins to flee from lack of attention from Jadwin.
I found this book very slow at the beginning. However, once the market traps Jadwin, the book becomes exciting and the pages fly by. Laura is a realistic character, although I didn't have a lot of sympathy for her - she come off rather spoiled and hapless. Norris's point about the addictiveness of speculating on wheat futures and the power that it has over the rest of the world is evident. A solid book and worth reading by those who like that period of time or are interested in Chicago's history.
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An example of the direction his thoughts take us: the events in the life of Christ are appropriate for depictions on the church walls as they are integral to the liturgy; the stations of the cross are appropriate only in the season of Lent. This brings us back to the eastern rite iconastasis for the narrative material of the art, although he does not specifically make this connection.
A second example: he makes an interesting distinction between three dimensional depictions of saints which leave them in this world and hence are devotional vs. icons which depict them glorified and hence can be liturgical.
This is a thought provoking and practical book that should be read before any building or renovation of a church.
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