Dennis Sauert's Books

The Role of the 1929 Stock Market Crash and Other Factors that Caused the Great Depression

By: Dennis Sauert

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The Role of the 1929 Stock Market Crash and Other Factors that Caused the Great Depression

By: Dennis Sauert

Bachelor Thesis from the year 2009 in the subject Economics - History, grade: 1.3, Berlin School of Economics and Law, language: English, abstract: Within macroeconomics, economists agree that there were a number of contributing factors that led to the Great Depression. However, most of the discussion is about what was responsible for the depth and the length of this economic event. In the four years starting in the summer of 1929 until 1933, financial markets and institutions, labor markets as well as international currency and goods markets had stopped functioning and it seemed that economic and monetary policy remained helpless in that period. To analyze the Great Depression, Friedman and Schwartz supply one of the most critical but popular explanations. They focus on the monetary policy of the Federal Reserve System (hereinafter Fed) of the United States(hereinafter U.S.) since the Fed allowed a severe contraction in money supply in the period of 1929 - 1933, even though the Federal Reserve Act of 1913 delegated monetary actions by the Fed to avoid such monetary contraction. Friedman and Schwartz claim that the severeness of monetary contraction resulted from the Fed's passive response to the banking panics in the 1930s when the public increased sharply its demand for currency. However, they admit that the Fed conducted a successful policy during most of the 1920s until a "shift in power within the system and the lack of understanding and experience of those individuals to whom the power shifted" occurred. Herein, they point to the death of Benjamin Strong the Governor of the New York Federal Reserve Bank who had the sagacity and leadership to take measures that would have avoided the Great Depression. Thus, they maintain that monetary contraction in the period of 1929 - 1933 induced the Great Depression due to a misguided policy by the Fed that was eventually in authority for the downturn in economic activity.

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GRIN Verlag

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ISBN 10

3640710010

ISBN 13

9783640710010

Hedge funds and their impact on financial stability. Implications for systemic risk and how to control for it

By: Dennis Sauert

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Hedge funds and their impact on financial stability. Implications for systemic risk and how to control for it

By: Dennis Sauert

Master's Thesis from the year 2011 in the subject Economics - Finance, grade: 2,0, Berlin School of Economics and Law, language: English, abstract: Over the past decades the architecture of the financial system has undergone a significant change, whereby the alternative investment industry has claimed an ever increasing importance and popularity. Hedge funds have taken the leading role in this development. From a handful of hedge fund managers in the United States (U.S.), hedge funds have been growing to a worldwide business at the forefront of sophisticated financial innovation. Despite their rising success in the alternative investment industry, only a few subjects in the financial world appear to create such diverse opinions as hedge funds do. On the one hand, there are policy makers and academics, which appreciate and highlight hedge funds’ main role in increasing profits and effectively diversifying risks in traditional portfolios. Moreover, Alan Greenspan, the former chairman of the Federal Reserve System (Fed), stated that hedge funds “have become major contributors to the flexibility of the financial system.” Provided with flexibility and light regulatory oversight, their participation in various markets has been proven important. Especially, due to the provision of liquidity, financial markets have become more efficient but also resilient by absorbing many financial shocks in past years, including the most recent financial crisis. On the other hand, there are also policy makers and academics, who claim that hedge funds are large enough to destabilize markets or even trigger financial crises. A common concern following the near failure of Long Term Capital Management (LTCM) in 1998 is that one single hedge fund, as a highly leveraged investment pool, can create systemic risk to the worldwide financial system. Such ongoing concern about the vulnerability paired with the tremendous development and opaque nature of hedge funds, emphasize their potential threat to financial stability. Despite the fact that only little is known about these loosely regulated private investment pools, an unstudied reaction to 1998 is to regulate them. Against this background, the aim of this paper is to give the reader a better oversight and understanding of the hedge fund industry by deeply analyzing and discussing their beneficial characteristics but more importantly the issue of how they may be an essential threat to the financial system. Therefore, the paper is split into four main parts. The first part provides the reader with an overall picture of the unfolding of the hedge fund industry from the beginnings...

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105

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GRIN Verlag

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ISBN 10

3656676895

ISBN 13

9783656676898

Do MacRoeconomic Variables Have an Effect on the Us Stock Market?

By: Dennis Sauert

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Do MacRoeconomic Variables Have an Effect on the Us Stock Market?

By: Dennis Sauert

Seminar paper from the year 2010 in the subject Economics - Case Scenarios, grade: 1.0, Berlin School of Economics, language: English, abstract: The objective of this paper is to examine whether the unanticipated change of specific macroeconomic variables influences the US stock market represented by the S&P 500 using monthly data from 1986 to 2007. Thereby, the performance of the arbitrage pricing theory of Ross (cp. Ross, S., 1976) shall be studied. To explain the behavior of the US stock market return the paper contains the five predefined variables consumer price index (CPI), industrial production index (IPT), money stock M1 (M1), total consumer credit outstanding (TCC) and the term structure of interest rates (Term) which are approximately similar to those variables used by Ross (cp. Chen N. F. et al., 1986, pp. 383-403). Applying the OLS method, it was found that CPI, IPT and Term are negatively related to the US stock return. It was also detected that M1 affects the stock market lagging 8 months and 12 months. However, the test statistics showed that TCC has rather no impact on the US stock market return. To ensure that the ultimate results are not spurious, care will be taken in regards to autocorrelation, multicollinearity, serial correlation as well as heteroskedasticity.

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GRIN Verlag

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ISBN 10

3640720652

ISBN 13

9783640720651

The Monetary Policy of the European Central Bank

By: Dennis Sauert

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The Monetary Policy of the European Central Bank

By: Dennis Sauert

Essay from the year 2009 in the subject Business economics - Economic Policy, grade: 1,7, Berlin School of Economics and Law, language: English, abstract: The national currency of each country in Europe was an indispensable element of national sovereignty and bank notes as an expression of national culture and trademark. With successive significance of bank notes as a means of payment in modern economic life central banks gradually gained a stronger role and monetary policy has become an integrated part of economic policy. In respect to this development the implementation of stage three of the EMU in 1999 was an important caesura in European history since a major part of European political independent countries gave up their sovereignty of monetary policy by adopting and agreeing on an irrevocable peg of their domestic currency to the Euro. This required a change to a new European monetary policy in the sector of European central banking. Thus, the ECB was founded and the NCB’s of the MS integrated into a European central bank system. It has never been achieved a similar integration process of a policy area in the EU as that of the common monetary and exchange rate policy. The EU has nowhere else been more authentically developed in its identity than in the area of the Euro and the ECB. Nowadays, the participating MS form a currency area that is considered as the second largest economic area behind the USA. This reveals the worldwide significance of European monetary policy that will be explained in the following. The first chapter will briefly comment on the institutional framework structure before the topic of price stability will be introduced. Chapter four and five will examine the transmission process and the monetary strategy of the ECB. In the sixth chapter monetary instruments will be closely described while chapter seven explains the use of instruments of the ECB to react to the current financial crisis. Concluding, a short assessment of European monetary policy will then frame the end of this paper.

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GRIN Verlag

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ISBN 10

3640486358

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9783640486359

Do Macroeconomic Variables have an Effect on the US Stock Market?

Empirical Evidence in the Case of the S & P 500

By: Dennis Sauert

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Do Macroeconomic Variables have an Effect on the US Stock Market?

Empirical Evidence in the Case of the S & P 500

By: Dennis Sauert

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GRIN Verlag

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ISBN 10

3640720210

ISBN 13

9783640720217

Hedge Funds. Principles, Chances and Risks

By: Dennis Sauert

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Hedge Funds. Principles, Chances and Risks

By: Dennis Sauert

Essay from the year 2007 in the subject Business economics - Investment and Finance, grade: 1,0, Berlin School of Economics and Law, course: National and International Finance Relationship, language: English, abstract: The name hedge funds can be confusing because it is not the case that these funds hedge with its strategies only against losses. Moreover they absorb risks and focus on misvalues of shares or markets they have identified. In this way hedge funds try to achieve high yields by using appropriate strategies in the right time. Therefore hedging can only be a part of the strategy as it secures the portfolio against risks which the hedge fund has not included. The final success of the investment of hedge funds ultimately depends on the correction of assumed misvalues. Alfred Winslow Jones was the founder of the first hedge fund in 1949 and obtained the idea to eliminate the unpredictable market trend. Therefore he launched an investment company named “Jones Hedge Fund” which was the first hedge fund worldwide. But his invention was not in demand until 1962 when the stock market collapsed. While all shares and funds lost their value, the “Jones Hedge Fund” reached an absolute return due to the falling prices of shares. The reason for this phenomenon will be explained in the fourth chapter. Since then hedge funds became quite popular even though the real break trough started during the technolgy boom in the 1980’s. The total capital asset under management of hedge funds was in the beginning less than 200 million US Dollar which has been extensively growing up to 25% in average in the last 16 years. Although they have been growing a little weaker with approximately 19 % for the last six years, their asset under management is risen of approximately 1.5 billion US Dollar. So far there is no predicted end in sight. But surprisingly they represent a relative small size compared to the asset management industry. Furthermore due to the remarkable growth of hedge funds, the significance on the financial market is increasing and ensures a continued attention of public authorities and the financial community. The following chapters will show the position of hedge funds in the present time and discuss the role of hedge funds on the financial market as well as possible chances and risks.

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GRIN Verlag

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ISBN 10

3640485688

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9783640485680

The Role of the 1929 Stock Market Crash and other Factors that caused the Great Depression

By: Dennis Sauert

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The Role of the 1929 Stock Market Crash and other Factors that caused the Great Depression

By: Dennis Sauert

Bachelor Thesis from the year 2009 in the subject Economics - History, grade: 1.3, Berlin School of Economics and Law, language: English, abstract: Within macroeconomics, economists agree that there were a number of contributing factors that led to the Great Depression. However, most of the discussion is about what was responsible for the depth and the length of this economic event. In the four years starting in the summer of 1929 until 1933,financial markets and institutions, labor markets as well as international currency and goods markets had stopped functioning and it seemed that economic and monetary policy remained helpless in that period. To analyze the Great Depression, Friedman and Schwartz supply one of the most critical but popular explanations. They focus on the monetary policy of the Federal Reserve System (hereinafter Fed) of the United States(hereinafter U.S.) since the Fed allowed a severe contraction in money supply in the period of 1929 – 1933, even though the Federal Reserve Act of 1913 delegated monetary actions by the Fed to avoid such monetary contraction. Friedman and Schwartz claim that the severeness of monetary contraction resulted from the Fed’s passive response to the banking panics in the 1930s when the public increased sharply its demand for currency. However, they admit that the Fed conducted a successful policy during most of the 1920s until a “shift in power within the system and the lack of understanding and experience of those individuals to whom the power shifted” occurred. Herein, they point to the death of Benjamin Strong the Governor of the New York Federal Reserve Bank who had the sagacity and leadership to take measures that would have avoided the Great Depression. Thus, they maintain that monetary contraction in the period of 1929 – 1933 induced the Great Depression due to a misguided policy by the Fed that was eventually in authority for the downturn in economic activity.

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GRIN Verlag

Published Date

ISBN 10

3640709853

ISBN 13

9783640709854

Hedge funds and their impact on financial stability. Implications for systemic risk and how to control for it

By: Dennis Sauert

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Hedge funds and their impact on financial stability. Implications for systemic risk and how to control for it

By: Dennis Sauert

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105

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GRIN Verlag

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3656676895

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9783656676898

Flexicurity as one model of labour market policy

By: Dennis Sauert

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Flexicurity as one model of labour market policy

By: Dennis Sauert

Essay from the year 2009 in the subject Business economics - Economic Policy, grade: 1,3, Berlin School of Economics and Law, language: English, abstract: Nowadays, living and working conditions of EU citizens alter in a very fast pace due to globalization, accelerated technological progress and demographic change. Therefore,challenges European economies have to cope with are for example: - Increasing international trade and thus worldwide economic integration,- An expansion on global reserves of workforce, - An adjustment of labour division between industrialized and emerging markets and - A successive significance of human capital in course of a community of knowledge. On the one hand, to remain competitive this change1 means that firms within EU countries have to establish new markets while the requirements on mastering production processes and forms of organization increase. As far as employees are concerned, they have to be willed and capable to tune in to those labour market changes. Thus, life long learning and mobility become the very basics of success. In the same time higher pressure on wages and employment of low level qualified people can be seen in course of ongoing processes in job specialization. On the other hand, there has been an establishment of awareness within Europe of a common social model which carries the characteristics of: - Social cohesion, solidarity and the abatement of social poverty and discrimination, - Securing general access to a health and education system as well as broad social covering and - A significant role of the public sector to provide the necessary infrastructure. This shows that social security within the European society is strongly anchored which forms a certain constant in the approach of new reforms. Hence, flexicurity as an essence of the adaptability pillar of the EES has the task to strike the balance of a more flexible labour market to preserve European competitiveness with security of the social model. To achieve the objective of the Lisbon Strategy of full employment, enhancing quality and productivity at work as well as to underpin social and territorial cohesion flexibility and security are absolute mutually supportive. That is, to remain competitive only a dynamic, innovation oriented and business friendly economy provides those necessary resources that enable also the maintenance of social governmental structures.

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GRIN Verlag

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ISBN 10

364048567X

ISBN 13

9783640485673

The Monetary Policy of the European Central Bank

By: Dennis Sauert

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The Monetary Policy of the European Central Bank

By: Dennis Sauert

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GRIN Verlag

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3640486358

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9783640486359

Dennis Hopper

Interviews

By: Dennis Hopper

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Dennis Hopper

Interviews

By: Dennis Hopper

Collected interviews spanning from 1957 to 2009 with the popular bad-boy actor and rebel director of Easy Rider

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268

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Univ. Press of Mississippi

Published Date

ISBN 10

1617036560

ISBN 13

9781617036569

I Should Be Dead by Now

By: Dennis Rodman

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I Should Be Dead by Now

By: Dennis Rodman

Since I was a kid, I had always prided myself on my discipline in the things that really mattered-in the weight room, on the court (forget the refs), defense, rebounding, in how I play the game. Off court was my business; but suddenly things had changed.After the motorcycle accident, my agent, Darren Prince, was so worried about my partying that he called in the cavalry, my former bodyguard, Wendell "Big Will" Williams-a six-foot-four-inch, 400-pound black man to whom people, including Dennis Rodman, tend to listen. Wendell was coming out of bodyguard retirement to make sure I did what I was supposed to do when I was supposed to do it. He started out strong at the Radio Music Awards in Las Vegas. It was exactly a week after the Treasures motorcycle crash. Despite my usual protests-"I don't want to do this. This is bullshit. It's not gonna help my career"-that afternoon Wendell managed to get me, sober no less, to this series of round-robin interviews with every radio station in America. This went on for hours before the actual awards show that night, and Wendell wouldn't let me drink. Afterwards, it was like I'd just run a marathon, and I went out by the pool to relax with a cool one while he went upstairs to shower. When Wendell got back down, I was wasted. This was all new to him. In the three years since he'd worked with me, I'd started spending much more time with my friend, Herr Jdgermeister, and this was his first time to see Dennis Rodman, Daytime Drunk.Darren was on my ass. Wendell was on my ass. My best friend, Thaer, was on my ass. Even my wife, Michelle, was on my ass. Anyway, after the motorcycle accident and my skid-row-drunk performance at the Radio Music Awards, ESPN satdown Michelle for an interview. "I'm done. I'm ready for a divorce," she told the interviewer. This from a woman who has "Mrs. Rodman" tattooed just above her butt in letters about an inch high.By the end of October 20

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242

Publisher

Sports Publishing LLC

Published Date

ISBN 10

1596701528

ISBN 13

9781596701526

Your Friend and Mine, Andy Devine (Hardback)

By: Dennis Devine

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Your Friend and Mine, Andy Devine (Hardback)

By: Dennis Devine

This is the HARDBACK version. Everyone loved Andy Devine, who starred on radio, television, films, and the New York stage. Just look at his credits in the back of this book and you will be amazed. Devine was discovered by accident, then struggled for many years. But success would be his, and he would appear in some of the greatest films ever made. Andy Devine would be married to the same woman for forty-three years and they would live on a farm just outside Hollywood. They raised two sons who would graduate from college and be successful in their own right. In this book you will meet many Hollywood characters who were clever, funny and unpredictable. You will experience both the golden age of film and radio plus the early years of television. You will be involved with the deal makers and the deal breakers. Our author, Dennis Devine, is a dramatic and compelling story teller who will capture the reader. Just try to put it down! "Making friends was what Andy Devine was all about," writes his son Dennis Devine in his loving, respectful memoir of his beloved father. Dennis is a good storyteller (perhaps an inherited trait?) as he relates he and his father's evolving relationship. - Western Clippings

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248

Publisher

BearManor Media

Published Date

ISBN 10

1593937032

ISBN 13

9781593937034

Book's by Dennis Sauert

The Role of the 1929 Stock Market Crash and Other Factors that Caused the Great Depression

The Role of the 1929 Stock Market Crash and Other Factors that Caused the Great Depression

Hedge funds and their impact on financial stability. Implications for systemic risk and how to control for it

Hedge funds and their impact on financial stability. Implications for systemic risk and how to control for it

Do MacRoeconomic Variables Have an Effect on the Us Stock Market?

Do MacRoeconomic Variables Have an Effect on the Us Stock Market?

The Monetary Policy of the European Central Bank

The Monetary Policy of the European Central Bank

Do Macroeconomic Variables have an Effect on the US Stock Market?

Do Macroeconomic Variables have an Effect on the US Stock Market?

Hedge Funds. Principles, Chances and Risks

Hedge Funds. Principles, Chances and Risks

The Role of the 1929 Stock Market Crash and other Factors that caused the Great Depression

The Role of the 1929 Stock Market Crash and other Factors that caused the Great Depression

Hedge funds and their impact on financial stability. Implications for systemic risk and how to control for it

Hedge funds and their impact on financial stability. Implications for systemic risk and how to control for it

Flexicurity as one model of labour market policy

Flexicurity as one model of labour market policy

The Monetary Policy of the European Central Bank

The Monetary Policy of the European Central Bank

Dennis Hopper

Dennis Hopper

I Should Be Dead by Now

I Should Be Dead by Now

Your Friend and Mine, Andy Devine (Hardback)

Your Friend and Mine, Andy Devine (Hardback)

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