Derivatives have stormed onto the financial scene in recent years; they've also been blamed for everything from the fall of Barings to jock itch. Instead of incessantly grinding their teeth and grousing about the inscrutability of these instruments, financiers should visit Numa Web. Specializing in Internet investing, Numa Financial Systems has gone online with a battery of options-pricing "webulators," an extensive set of links to other derivative-related Web sites, and an impressive online bookstore. While you won't find a great deal of original material here, you will discover where to go for derivatives information and education. - Mike Hase
Dr. Alexander Elder wants to help people become better traders. Alas, investors won't find any tidbits of wisdom at his Web site; in fact, they won't find much of anything beyond some links and book reviews. While the categorized links are useful and cover the entire spectrum of financial analysis (ditto the book reviews), the same type of information--and a lot more of it--can be found at other places. The site contains no data, no advice, and no software. Investors may want to use the set of links to move on to a more complete financial site. - Mike Hase
I'm so tired of seeing Smartthis and Smartthat on the Web that I'm ready to hurt somebody. And I must also profess extreme dislike for management theory's perversion of the English language. Nevertheless, risk management professionals will find much of value at Arkwright's SmartSite for Managing Risk. Having done business in the area of loss prevention and control for nearly 150 years, Arkwright has a lot to say about risk management theory and practice. Filled with useful tips about protecting yourself from the inevitable disasters encountered in business (fire, typhoon, computer viruses), the site should scare the hell out of any CEO. - Mike Hase
Jack Beausang has apparently been spooking around stock exchanges and brokerage houses for the last 25 years; now he's decided to "share the benefits of [his] experience with the investing public." The Web's "first professionally filtered" financial resource page, the Resource Guide is your garden-variety umbrella page, with hundreds of links divided among several categories (stocks and options, futures, currencies, and the like). If you're looking for a financial umbrella page, you could do worse than this site, although it would benefit greatly from further organization. - Mike Hase
Only 35% of mutual funds outperformed the market in 1996, and the Wall Street Journal annually demonstrates that portfolio selection by darts beats professional picks. So, hey, why not let the stars be your guide? The Astrologer's Fund, Inc., directed by Henry Weingarten, uses astrological signs to predict market movements and guide stock selection. At the site, you can investigate the latest picks (along with such reasons as Jupiter's being in the Third House), as well as study the Astrologer's Fund's past performance. These people aren't kidding and aren't really using indicators any sillier than those used by many more reputable institutions. - Mike Hase
This utterly fascinating site contains essays written by Roy Davies and based largely on ideas from his father Glyn's book. A summary essay entitled Money--Past, Present & Future will set you on your way to exploring the story of money and barter throughout history. Well written and entertaining, the collection of essays covers a variety of topics, including how the English paid the Vikings to leave them alone and how the American Revolution was financed by hyperinflation. More technical essays, such as Pendulum Metatheory of Money, can also be found here. While covering a seemingly tedious topic, this site manages to be anything but boring. - Mike Hase
Is it worth your time to type the above, ridiculously long, upper- and lower-case URL into your browser? No. Billed as the "world's only interactive Financial Encyclopaedia," this Web site provides, at best, an incomplete dictionary. The uninspired interface (linked letters of the alphabet) leads to lists of topics under each letter. Many, many of the topics are currently undefined, and the others come with only a one- or two-sentence definition. While one might expect a financial encyclopedia to cover such terms as "Sharpe ratio" and "swap," this one does not. - Mike Hase
FinanCenter, a Web-based business, provides a plethora of online calculators and advice to help surfers get a grip on their personal finances. Split into broad categories ranging from credit cards to home loans to mutual funds, the calculators will assist you in making important decisions, such as whether to consolidate your debt and how to finance (or refinance) a home. Some (but not all) of the areas come with advice, and many provide services, such as online loan and credit card applications from outside vendors. While I can't attest to the quality of the services offered, I can say that the calculators alone make the site worthwhile. - Mike Hase
This site, provided by the Economist Intelligence Unit (EIU) in conjunction with I-Trade, supplies international corporations with vital information about economies around the globe. Unfortunately, you have to pony up $100 a month to use the service, but if you're doing business in Bangladesh, that's a small price to pay. You can peruse the political and economic analysis of Taiwan for free, and the coverage is detailed and insightful, which one would expect from the EIU. If you're doing business across international borders, then you probably can't live without the information provided here, but the EIU holds little for the average citizen. - Mike Hase