Criniti-Finance-ajk*$0#
1,207,207,eco,eng,20211011,20211232,4,Anthony M. Criniti: The Necessity of Finance
ama,https://www.amazon.com/Necessity-Finance-Dr-Anthony-Criniti-ebook/dp/B00BMTUHR4/ref=sr_1_3?dchild=1&keywords=Criniti&qid=1634111156&sr=8-3#customerReviews
eng,https://www.amazon.com/review/R3GBJBL083D54X/ref=pe_1098610_137716200_cm_rv_eml_rv0_rv
1,2,TABLE OF CONTENTS 
1,2,Preface 
1,2,1. Introduction
1,3,a. The Mother of Invention 
2,3,b. Finance and Science 
4,h,relationship between wealth and science: the possibility of enhancing personal wealth has generally always been the carrot on the end of the stick enticing people to use their creativity to advance humanity.
6,h,relationship between wealth and science: the possibility of enhancing personal wealth has generally always been the carrot on the end of the stick enticing people to use their creativity to advance humanity.
6,3,c. Where Is the Real Nobel Prize in Finance?
d,science is a persistent search for a truly better way to perform an action or understand a condition, process, or thing.
c. Where Is the Real Nobel Prize in Finance? 
9,2,2. What Is Finance? 
9,d,finance =is the science of management of wealth for an individual, a group, or an organization.
17,2,3. The Purpose and Goals of Finance 
18,h,The major goal of finance is to continuously maximize wealth for an individual, a group, or an organization.
22,h,In short, in our modern civilization, to struggle financially means to struggle in every aspect of life.
23,2,4. The Financial Manager 
23,d,A financial manager is an individual who manages wealth for an individual, a group, or an organization.
25,2,5. The Financialist and the Financier
25,d,A financialist= is a scientist who specializes in the science of finance.
30,2,6. A Digression on Money 
30,h,It doesn’t matter what the object is that represents money. What matters is the belief in what money can do.
31,2,7. The History of Finance 
31,3,a. In the Beginning 
32,3,b. Making Progress 
34,3,c. Early Currency 
35,3,d. A Note on Debt 
36,h,Christianity did not permit the lending of money for the purposes of earning interest, or what was called usury. The Jewish people who lived in Italy at the time were the only ones allowed to perform this activity, and they conducted their business on a bench, la banca in Italian, and the origin of the word bank. If someone didn’t like the way a lender did business, then he would break his bench, bancarotta in Italian, the origin of the word bankrupt.
35,3,e. Other Financial Events 
37,3,f. Historical Perspectives of Wealth 
39,2,8. Modern Finance 
39,3,a. Founding Fathers
42,3,b. Finance Is Not Economics 
44,h,Friedman understood this difference all along: economics is not finance and finance is not economics.
45,2,9. Who Needs Finance? 
45,3,a. Money and Wealth Are Inescapable 
46,d,Opportunity cost=In finance this is called an opportunity cost, or the price one pays for choosing one event over another.
47,3,b. A Condition for Individual Survival 
48,h,Ignoring the Ignoring the lessons of finance equates to welcoming a lifetime of financial struggles for an individual, a group, or an organization.
49,2,10. Finance Misunderstood 
53,2,11. The Significance of a Financial Education 
57,2,12. Why Is Finance Exciting?
57,i,and their mouths are looking for words.
61,2,13. What Is Economics? 
63,d,economics =is the science of management of wealth for a nation or a division of a nation.
67,2,14. Purposes and Goals of Economics 
67,d,The purpose of economics = is to continuously seek, analyze, and implement better ways to maximize wealth for a nation or a division of a nation.
68,h,one major goal: to continuously maximize wealth for a nation or a division of a nation.
71,2,15. Economic Conclusions 
73,h,Monetarism is basically a form of laissez faire created by Milton Friedman where government is mainly only allowed to control the money supply in targeted amounts. The Keynesian economic system, also called macroeconomics, allows the government to have a significant influence on the economic system through the use of various monetary and fiscal policies while simultaneously allowing the free market to exist.
74,h,Regardless of whether or not any economic policy has positive or negative effects on a nation, or for whatever reason does not have a goal to continuously maximize wealth, the polices still fall under the umbrella of economics as defined in this book, which is the science of managing wealth for a nation or a division of a nation.
77,2,16. The Relationship between Finance and Economics 
77,3,a. A Special Synergy 
83,3,b. The Idea of Finance Was Always There 
83,h,Adam Smith’s The Wealth of Nations was the spark that ignited the flame.
83,h,Although finance has been taught at universities for several decades now, the idea of finance as a completely separate science, finally distinguished from the shadows of economics, has come.
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85,2,17. Financial Economics and Economic Finance
89,2,18. Types of Finance 
89,3,a. Overview 
90,3,b. Personal Finance 
91,h,The major goal of personal finance is to continuously maximize wealth for an individual or a family. Personal finance is a subject everyone should study regardless of his or her specialization or occupation. All individuals need to understand how to maximize their wealth as a condition of their survival. This is especially applicable if the individuals have a family of others to support.
94,3,c. Group and Organizational Finance 
98,d,Accounting,= one of the oldest subjects in human civilization, also fits into this newer organizational model. Originally called bookkeeping, it can be described as a systematic recording and administration of financial data for an individual, a group, or an organization.
99,h,It’s thought that accounting first began in ancient Mesopotamia, when people needed to record the development development of crops and herds.
101,2,19. Finance and Business 
101,d,A business= is an entity formed by an individual, a group, or an organization to sell goods and services in order to maximize profits and eventually distribute a part or all of them to the owners.
103,d,A nonprofit organization =is an entity formed by an individual, a group, or an organization to sell goods and services in order to maximize profits and eventually distribute a part or all of them to a specific cause.
109,2,20. The Necessity of Financial Planning 
109,3,a. The Holistic Approach to Financial Planning 
112,3,b. Failure to Plan Is a Sure Plan to Fail
112,d,Financial planning =is the act of planning to maximize wealth for an individual, a group, or an organization. Contrarily, economic planning is the act of planning to maximize wealth for a nation or a division of a nation.
115,2,21. Financial Statements
119,2,22. Financial Theories Overview 
123,2,23. Finance and Math 
127,2,24. Investing Overview 
127,3,a. Tough Terminology 
128,d,An investment =is any asset currently owned, tangible or intangible, that is not associated with playing any perceived ongoing game of chance and is intended to maximize wealth based on acceptable levels of time and risk.
128,d,Investing =is the act of currently owning any asset, tangible or intangible, that is not associated with playing any perceived ongoing game of chance and is intended to maximize wealth based on acceptable levels of time and risk.
132,h,However, an individual who is risk adverse, meaning that he can tolerate only lower levels of risk, may be more suitable to investing in traditionally safe investments such as money markets or bonds.
132,h,One may define an investment as the current commitment of money or other resources in the expectation of reaping future benefits.
133,d,An investor =is an individual, a group, an organization, or a nation that currently owns an asset, tangible or intangible, that is not associated with playing any perceived ongoing game of chance and is intended to maximize wealth based on acceptable levels of time and risk.
134,d,speculator =is an investor who takes a very large amount of risk with the intention of receiving a very large return.
134,d,gambler= is any individual, group, organization, or nation that plays a perceived ongoing game of chance.
134,3,b. Saving and Investing 
136,h,A major difference between saving and investing is based on the difference between the terms accumulating and maximizing.
136,h,savings minus investment = savings that is not invested. For example, if you save $1,000 then you may decide to invest $800 of it and retain the other $200 in cash. The $800 investment is derived from the total amount saved of $1,000.
139,2,25. Risk and Return 
139,h,You have to weigh your risk against the potential return. Is it worth getting to your destination in half the time if your risk of death may double?
140,h,The general lesson of the risk-return tradeoff can be summed up as: the more risk you take, the more return you can make or lose.
143,h,Investments are like fruit; they need to ripen before you can enjoy their benefits.
144,h,However, many successful investors agree that a small investor may need as little as three to five investments to be diversified. These investors believe they can spend more energy on fewer investments, and that this concentration of labor makes one a specialist. That may result in less risk.
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145,2,26. Financial Investments Overview
145,d,Financial Investments= The major types of investments include, but are not limited to: money markets, Treasury bills, interest bearing checking or savings accounts, certificate of deposits (CDs), bonds, stocks, mutual funds, collectibles, real estate, options, forwards, futures, swaps, and warrants.
145,h,There are many ways to classify investments in order to understand them better. First, we can separate them in terms of the recommended time-frame.
146,h,Investments can also be classified in terms of liquidity, which is how fast an asset can convert to cash.
153,2,27. The Marketplace and Finance 
154,d,A financial market =is a place where buyers and sellers exchange various components of wealth, which include assets, liabilities, and equity (sometimes called net worth).
154,d,In capital markets, =suppliers and demanders meet to exchange capital for investments. Capital is money that is allocated for purchasing investments.
157,2,28. Capital Overview 
158,h,Capital assets are sometimes referred to as a long-term investment.
159,h,Capital is not an investment yet; it is saved money that is in a transitory state. The moment the capital is exchanged for an investment, generally in the capital marketplace, it converts into an investment.
160,h,To be clear, capital is not an investment yet. When it becomes an investment, it is no longer considered capital.
160,d,Capitalism =is an economic system where investors can freely invest capital.
163,2,29. Return and Cost of Capital 
165,2,30. Finance and Taxes 
170,2,31. Time Value of Money 
170,h,To expand on this further, we must understand five major components of the time value of money: time, generally expressed as N; interest rate, or I; present value of the component of wealth, or PV; payment, or PMT; and the future value of the component of wealth, or FV. All time value of money problems contain at least some of them.
171,h,the value of the purchasing power of money over time based on a specified interest rate.
172,h,The formula for these four major types is: PV=FV ÷ (1 + i)n FV=PV(1 + i)n PVA = PMT[1 - (1 + i)-n] ÷ i FVA = PMT[(1 + i)n - 1] ÷ i
172,2,32. The Agency Problem
173,d,agency problem= occurs when any agents of an individual, a group, an organization, or a nation have a chance to prioritize their financial goals before the financial goals of the entity they represent.
174,h,It was no mistake that I included the word nation in our definition of the agency problem. Focusing on nations shifts the field of inquiry to economics. I added the term to show that economists also struggle with the agency problem. Agents who represent nations, such as politicians or economic managers, can also make decisions that maximize their own wealth while neglecting to maximize the wealth of the people of the nations they represent.
176,h,As in all cases, if the agency problem is not kept in check, many people can get hurt at the hands of a selfish few.
177,2,33. Financial Advice 
177,h,Many people struggle to understand how to manage their wealth. Some refuse to learn finance for various reasons. Others may try really hard to learn finance, but without proper guidance, are led astray. This may be a result of reading the wrong books.
177,h,Financial advice should be specific to the individual. Every person has different circumstances, even if it is in small degrees, which require a unique financial plan.
178,h,It is more sensible to work with professionals who not only talk the talk but have walked the walk. This makes sense in any other area of life, and it should certainly make sense when dealing with your money.
178,h,You would also be taking a chance by going to a hairdresser who has never successfully cut his own hair, or a doctor who has never treated himself. !!? 😜
181,2,34. Finance and Health 
182,h,To be more concise, under the current American healthcare system, the wealthier you are the healthier you could be.
185,2,35. Finance and Ethics 
188,h,The ethical challenge of economics is to ensure that a nation’s wealthy people are using their wealth wisely in the best interest of the people of the nation. This is not to advocate government control over anyone’s wealth. Instead economists should strive to ensure a competitive environment where the most successful, ethical financial managers rise to
191,2,36. Finance and the Environment 
193,2,37. International Finance 
197,2,38. Financial Occupations
201,2,39. The Future of Finance 
202,h,may be wise to spend some time revisiting their purposes and ensuring these creations are actually productive. If financial innovations do more harm than good to society then they need to be revised or eliminated. Financial products should be designed to help make society function better, not worse.
203,2,40. Conclusions
203,h,First, finance was defined as the science of management of wealth for an individual, a group, or an organization. 
Second, the purpose of finance was stated: to continuously seek, analyze, and implement better ways to maximize wealth for an individual, a group, or an organization. 
Third, the major goal of finance was stated: to continuously maximize wealth for an individual, a group, or an organization.
204,h,This book also introduced the term financialist to describe the financial scientist.
204,h,Many other terms have been reviewed from a different perspective as well, including investor, speculator, gambler, financial manager, financial planner, financier, wealth, investment, savings, various markets, capital, return, risk, agency problem, business, time value of money, and ethics.
205,h,Economics has tried to resolve these problems alone, but had mixed success, possibly because it has been looking at the problem only from one perspective. If the focus is shifted and the problem is viewed from the perspective of all parties including individuals, groups, and organizations, then better solutions may be visible.
206,h,Now more than ever, there is a necessity to recognize the significance of finance. Now more than ever, there is a necessity to learn the science of finance.
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#eng Having taken a lecture course of a prominent teacher
'Having taken' are essential words in the heading. This is not only a lecture course, even less just a book. But when reading you have the feeling that the lecturer is present and speaking just to you, all-time requiring you to follow with full attention. So I did, and am proud of being able to follow and being a professor of economics, a macroeconomist, understand the first two-thirds of the text. But then the closer treatment of the science of finance was more demanding for me, many unfamiliar concepts, not so much the terminology as the contents and significance of it. So I have introduced to my reading notes a record number of definitions. This was not difficult, because the author has laudably concentrated his message on definitions. 
Dr. Criniti has succeeded in convincing me that I, like all others, need this financial aspect of looking at things in our everyday life. Convincing us that it is a matter of survival. In a way, of course. But he has not succeeded in convincing me that I must all time be maximizing my financial wealth. For me, it is and has always been, to my present age of 84, enough to take care of the wealth to a sufficient degree. The difference between his maximizing and my just optimizing is understood for example by our different living conditions. He is living in an ultimate capitalist society, where all conditions of life rely on private initiative, private insurance is the most important guarantee of welfare. I am living in a Scandinavian, northern welfare society, which takes care of everybody's basic needs. But, of course, this is not the whole explanation. Personal attitude towards wealth may be more important.
Anyway, this lecture series has been a big pleasure, worth all five stars. Have already downloaded and will be taking the same author's next course in Economics and Finance, very promising for me as a retired lecturer in economics. 😁
#rus Пройдя курс лекций известного учителя
«Пройдя» - ключевое слово в заголовке. Это не только курс лекций, тем более книга. Но при чтении у вас возникает ощущение, что лектор присутствует и говорит только с вами, постоянно требуя от вас полного внимания. Я так и сделал, и я горжусь тем, что могу следовать и, будучи профессором экономики, макроэкономистом, понял первые две трети текста. Но потом для меня требовалось более пристальное рассмотрение науки о финансах, много незнакомых понятий, не столько терминология, сколько ее содержание и значение. Итак, я ввел в свои заметки для чтения рекордное количество определений. Это было несложно, потому что автор похвально сконцентрировал свое сообщение на определениях.
Доктору Кринити удалось убедить меня, что мне, как и всем остальным, нужен финансовый аспект взгляда на вещи в нашей повседневной жизни. Убедить нас, что это вопрос выживания. В каком-то смысле, конечно. Но ему не удалось убедить меня, что я должен постоянно увеличивать свое финансовое состояние. Для меня этого было и всегда было, вплоть до моего нынешнего 84-летнего возраста, достаточно, чтобы в достаточной степени заботиться о богатстве. Разница между его максимизацией и моей простой оптимизацией объясняется, например, нашими разными условиями жизни. Он живет в абсолютном капиталистическом обществе, где все условия жизни полагаются на частную инициативу, частное страхование является важнейшей гарантией благосостояния. Я живу в скандинавском северном обществе всеобщего благосостояния, которое заботится об основных потребностях каждого. Но, конечно, это еще не все объяснение. Личное отношение к богатству может быть более важным.
В любом случае, эта серия лекций была большим удовольствием и стоит всех пяти звезд. Я уже скачал и буду проходить следующий курс того же автора по Economics and Finance, что очень многообещающе для меня как бывшего преподавателя экономики. 😁
#fin Otettu erään merkittävän opettajan luentokurssi
'Otettu' on olennainen ​​sana otsikossa. Tämä ei ole vain luentokurssi, vielä vähemmän vain kirja. Mutta kun luet, sinulla on tunne, että luennoitsija on läsnä ja puhuu vain sinulle, ja sinun on aina seurattava täydellä tarkkuudella. Niinpä tein ja olen ylpeä siitä, että voin seurata ja ollen taloustieteen professori, makrotaloustieteilijä, ymmärtää tekstin kaksi ensimmäistä kolmasosaa. Mutta sitten rahoitustieteen läheisempi käsittely oli minulle vaativampaa, monet tuntemattomat käsitteet, ei niinkään terminologia vaan sen sisältö ja merkitys. Olen vienytkin lukutietoihini ennätysmäärän määritelmiä. Tämä ei ollut vaikeaa, koska kirjoittaja on kiitettävällä tavalla tiivistänyt sanomansa määritelmiin.
Tohtori Criniti on onnistunut vakuuttamaan minut siitä, että minä, kuten kaikki muutkin, tarvitsen tätä finanssitaloudellista näkökulmaa tarkastellaksemme asioita jokapäiväisessä elämässämme. Vakuuttaa meidät siitä, että kyse on selviytymisestä. Tietysti tavallaan. Mutta hän ei ole onnistunut vakuuttamaan minua siitä, että minun on aina maksimoitava taloudellinen vaurauteni. Minulle se riittää ja on aina riittänyt 84 -vuotiaaksi asti, että huolehdin vauraudesta riittävässä määrin. Ero hänen maksimoinnin ja minun vain optimointini välillä ymmärretään johtuvan esimerkiksi erilaisista elinolosuhteistamme. Hän elää äärimmäisessä kapitalistisessa yhteiskunnassa, jossa kaikki elämän olosuhteet riippuvat yksityisestä aloitteesta, yksityinen vakuutus on tärkein hyvinvoinnin tae. Minä asun pohjoismaisessa hyvinvointiyhteiskunnassa, joka huolehtii kaikkien perustarpeista. Mutta tämä ei tietenkään ole koko selitys. Henkilökohtainen asenne vaurauteen voi olla tärkeämpää.
Joka tapauksessa tämä luentosarja on ollut suuri ilo, kaikkien viiden tähden arvoinen. Olen jo ladannut ja käyn saman kirjoittajan seuraavan Economics and Finance kurssin, joka on erittäin lupaava minulle eläkkeellä olevana taloustieteen luennoitsija. 😁
#swe Efter att ha gått en föreläsningskurs för en framstående lärare
"Att ha gått" är viktiga ord i rubriken. Detta är inte bara en föreläsningskurs, ännu mindre bara en bok. Men när du läser har du en känsla av att föreläsaren är närvarande och talar bara till dig, vilket hela tiden kräver att du följer med full uppmärksamhet. Så jag gjorde, och är stolt över att ha kunnat följa och som professor i ekonomi, en makroekonom, förstå de första två tredjedelarna av texten. Men sedan var den närmare behandlingen av finansvetenskapen mer krävande för mig, många obekanta begrepp, inte så mycket terminologin som dess innehåll och betydelse. Så jag har introducerat ett rekordantal definitioner till mina läsanteckningar. Detta var inte svårt, eftersom författaren lovvärt har koncentrerat sitt budskap på definitioner.
Dr Criniti har lyckats övertyga mig om att jag, precis som alla andra, behöver denna finansekonomiska aspekt av att titta på saker i vårt dagliga liv. Övertyga oss om att det är en fråga om överlevnad. På sätt och vis, förstås. Men han har inte lyckats övertyga mig om att jag hela tiden måste maximera min ekonomiska förmögenhet. För mig är det och har alltid varit, till min nuvarande ålder av 84, tillräckligt för att ta hand om rikedomen i tillräcklig grad. Skillnaden mellan hans maximering och min just optimering förstås till exempel av våra olika levnadsförhållanden. Han lever i ett ultimat kapitalistiskt samhälle, där alla livsvillkor är beroende av privata initiativ, privata försäkringar är den viktigaste garantin för välfärd. Jag lever i ett skandinaviskt, nordligt välfärdssamhälle som tar hand om allas grundläggande behov. Men detta är naturligtvis inte hela förklaringen. Personlig inställning till rikedom kan vara viktigare.
Hur som helst, denna föreläsningsserie har varit ett stort nöje, värt alla fem stjärnor. Har redan laddat ner och kommer att gå samma författares nästa kurs i Economics and Finance, mycket lovande för mig som pensionerad lektor i ekonomi. 😁
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Criniti IV, Dr. Anthony M.. The Necessity of Finance . Criniti Publishing. Kindle Edition.