Contents

Cover

Title

Copyright

Acknowledgements

Preface

Introduction

1 First principles

2 Money flows and the money men

3 Companies and their accounts

4 The investment ratios

5 Refining the figurework

6 Equities and the stock exchange

7 What moves share prices

a: In ‘normal’ times

b: In the crash of ’87

8 Stockmarket launches

9 Issuing more shares – and buying shares back

10 Bidders, victims and lawmakers

11 Venture capital and leveraged buy-outs

12 Pay, perks and reverse capitalism

13 Government bonds and company bonds

14 Banks, borrowers and bad debts

15 The money markets

16 Foreign exchange and the euro

17 International money: the euromarkets

18 Financial derivatives and commodities

19 Insurance, and Lloyd’s after the troubles

20 Commercial property and market crashes

21 Savings, pooled investment and tax shelters

22 Supervising the City

23 Print and Internet: the financial pages

Tailpiece: How to read between the lines