The Merrill Lynch Investment Clock theory is a method that links assets, industry rotation, the bond yield curve, and the four stages of the economic cycle. It is a very practical tool for guiding investment cycles. The analytical framework of the Merrill Lynch Investment Clock can help investors identify the important turning points of the economic cycle.

Author: Yu Yang Subtitle: The Experience of a Chinese Trader Publication Year: 2011-3-2 ISBN: 9787300132440 Notes: ROE = 净利润／股东权益(Net Profit / Equity) =（净利润/销售收入）*（销售收入

Chinese title: 货币崛起 - How Finance Affects World History English title: The Ascent of Money: A Financial History of the World Author: Niall Ferguson (UK) Publication Year: 2009-6 ISBN: 9787508615073 Notes: Money is in fact a matter of trust, even a kind of faith: trust is embodied

1. Introduction to the Comprehensive Trading Platform (CTP) The Comprehensive Trading Platform is a futures brokerage business management system developed by Shanghai Futures Information Technology Co., Ltd. for futures brokerage firms, based on the trading system of the Shanghai Futures Exchange. The whole system consists of three major subsystems: trading, risk control (abbreviated as risk control) and settlement.

Chinese title: 金融的本质 - Bernanke’s Four Lectures on the Federal Reserve English title: The Federal Reserve and the Financial Crisis Author: Ben S. Bernanke (US) Publication Year: 2014-4 ISBN: 9787508644097 Notes: The main cause of the 2008 financial crisis was this: financial institutions were overconfident in