World Event Trading: How to Analyze and Profit from Today's Headlines (Wiley Trading)

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In an age of twenty-four-hour news coverage and cutting-edge technology, world events dominate our lives and impact the financial markets. From hurricanes to the war in Iraq, we exist in a crazy, connect-the-dot planet. However, the well-prepared investor can turn these events into profits. All they need is the ability to recognize the consistent characteristics of these events and the vision to build a strategy or portfolio that can take advantage of these situations when they begin to unfold.

As a foreign exchange strategist with over twenty years of financial experience, author Andrew Busch knows what it takes to make it in today� s dynamic market. And now, with World Event Trading, he wants to show you how.

Filled with in-depth insights and expert advice, this practical guide examines three categories of world events� infectious diseases, natural disasters, and politics� and provides hands-on strategies for trading profitably on each. Using actual examples of the war in Iraq, Hurricane Katrina, and other recent "page one stories," Busch shows you how to understand all-important market moods and anticipate profitable trades. He also reveals little-known details on legendary event-driven trading successes, illustrating how any trader can repeat them in different market environments.

Andrew Busch is the Global FX Market Strategist for BMO Financial Group� �s Investment Banking Division in Chicago. He is a recognized expert on the world financial markets and how these markets are impacted by political events. Busch’s views appear in his daily newsletter, the Busch Update,� which reaches 5,000 investors and financial professionals. He also writes a weekly column that appears on The Globe and Mail Web site on Fridays and in print on Mondays (circulation 40,000). Busch makes weekly appearances on CNBC s Closing Bell with Maria Bartiromo and is frequently quoted by the Wall Street Journal as well as other news services. He graduated Phi Beta Kappa with a BA in economics from Ohio Wesleyan University and received an MBA from the University of Chicago.

World Event Trading: How to Analyze and Profit from Today's Headlines (Wiley Trading) Review

I've always considered myself a student of the market. From this perspective, I categorize the knowledge that needs to be learned in order to survive and prosper (hopefully!) in the market into two broad categories: 1) Learning about trading techniques (fundamental, technical, psychological), and 2) Learning about market dynamics.

Andrew Busch's book "World Event Trading" according to my categorization definitely fall under learning about market dynamics. In my opinion, the book's name is a bit of a misnomer (a better name in my opinion would've been "Market Dynamics at World Events") mainly because the book ISN'T really about setting up opportunistic trades during major world events. On the other hand, Mr. Busch does a very good job showing you how different markets (stocks, currencies, etc.) respond to major world events (infectious diseases, naturla disasters, politics) while not forgetting putting the event in the context of what was going in the world when the event was occurring (which I thank him for it). In Mr. Busch words, "The purpose of this book is to get the reader to make better decisions on what is possible and what are the permutations of the events", and I think the author stayed faithful to this purpose througout the book.

What did I benefit from reading this book? The main benefit to me as a trader was developing what Dr. Brett Steenbarger calls "Differentiated Market Views". I began to think of a higher order of complexity. For example, I began to see how markets are interconnected and how "this" is related to "that" and how I can profit from the relationship. To summarize, this book enables a trader to develop increasingly complex models of the world by examining past world events.

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