Book Description
Designed to form the basis of an undergraduate course in mathematical finance, this book builds on mathematical models of bond and stock prices and covers three major areas of mathematical finance that all have an enormous impact on the way modern financial markets operate, namely: Black-Scholes’ arbitrage pricing of options and other derivative securities; Markowitz portfolio optimization theory and the Capital Asset Pricing Model; and interest rates and their term structure. Assuming only a basic knowledge of probability and calculus, it covers the material in a mathematically rigorous and complete way at a level accessible to second or third year undergraduate students. The text is interspersed with a multitude of worked examples and exercises, so it is ideal for self-study and suitable not only for students of mathematics, but also students of business management, finance and economics, and anyone with an interest in finance who needs to understand the underlying theory.
Customer Reviews:
Mathematics for Finance: A useful tool for the unskillled investor.......2007-03-19
I enjoyed reading the book and solving exercises in it. I have a Ph.D.in chemistry and my wife and I did our his and her's MBA in the 1990s. I wanted to learn more concepts in finance and needed an easy entry, something I could enjoy, and without spending much money. The book by Capinski came recommended from a friend who teaches Economics at Cal State. I can speak for myself: I feel reasonably informed and I feel the book gave me concepts I can use to handle my own portfolio.
In the future, this text should be offered with an interactive CD that contains Xls, matrix, calculus, and graphing capabilities so one (I) can visualize the outcomes of proposed solutions.
Incoherent.......2007-01-18
Anyone can scribble a bunch of equations on paper and call it a book. Without sufficient context, they are useless.
Insufficient and disappointing. Not even a good introductury text........2006-05-15
As a graduate student in Financial Engineering I have found this book useless.
The title of the book is "Mathematics for Finance", but can you find in it even an elementary introduction to the stochastic processes? No. Ditto for the Ito's lemma and many other topics. The derivation of the Black Scholes formula is just sketched, and the insight that you can get from it is very limited.
Nevertheless, I wouldn't mind these limitations if this book provided a clear introduction to more advanced topics: unfortunately this book is not good even in that. In comparison to other textbooks the theorems and definitions are convoluted and do not go straight to the point. For example, in Shreve's "Stochastic Calculus for Finance" or Baxter & Rennie "Financial Calculus" the Fundamental Theorem of Asset Pricing is stated in this way: "In a market with risk neutral probability there is no arbitrage". Can you find such a simple and explanatory definition in Capinski's book? Not at all. The theorem at page 83 (you can see it yourself by searching inside the book) basically says the same thing using 8 lines of text and little financial intuition.
The only good thing that I can say about this book is that all exercises are resolved.
Overall, "Mathematics for Finance" has been a big disappointment: it doesn't have either the mathematical depth of Shreve's books or the conciseness in explaining financial concepts of Baxter & Rennie.
Whatever is the level of education that you are pursuing, graduate or undergraduate, I don't see any point in using it.
Great Book for Undergrad Quants.......2005-08-29
Mathematics for Finance (An Introduction to Financial Engineering) is a book intended for undergrad students "IN MATHEMATICS" or other discipline with a relative high mathematical content.
The book assumes some basic notion of Calculus and Probability Theory and it is focused more on the mathematics than in its theory and application of Finance. If you are looking to dwell into the mathematics (Proof of Equations) this is a great book, but if you are looking for a book that is rich in theory and in application then you should consider "Option, Future and Other Derivatives" or "Quantitative Methods for Finance" as an alternative. Both books are "a most" for any finance student and are of great help. Now if you want an introduction into the mathematics behind Finance then this book is a perfect purchase.
Important to state that all the problems presented in this book are solved meaning that it is great for self teaching. Marek Capinsi and Thomas Zastawniak have done a great job on this book.
I gave it four stars, because it has room for impovement.
Joining the chorus.......2005-08-03
I can only echo the other reviewers. As far as I can tell this book has no serious competition. This is an excellent introduction to mathematical finance for those with a solid undergraduate level understanding of higher math but without graduate level exposure. I agree that it is ideal for self study as that is exactly what I am using it for. The price is right especially in contrast with its overpriced brethren. Five stars!
Book Description
Summarizing market data developments, some inspired by statistical physics, this book explains how to better predict the actual behavior of financial markets with respect to asset allocation, derivative pricing and hedging, and risk control. Risk control and derivative pricing are major concerns to financial institutions. The need for adequate statistical tools to measure and anticipate amplitude of potential moves of financial markets is clearly expressed, in particular for derivative markets. Classical theories, however, are based on assumptions leading to systematic (sometimes dramatic) underestimation of risks.
Customer Reviews:
Five stars for the intended audience, two stars for the likely holder .......2006-10-16
Five stars for the intended audience, two stars for the likely holder (a theoretical approximation of the mathfin reader utility curve) give a three star average. Why? Practical utility skew is the operative third moment.
If you have no idea about what I just wrote, this book is not for you. If you do and it made you smile, keep reading.
In Theory of Financial Risk and Derivative Pricing: From Statistical Physics to Risk Management authors Bouchaud and Potters place an additional veneer on their previous edition titled Theory of Financial Risks: From Statistical Physics to Risk Management, adding the sexy "Derivative Pricing" no doubt in a forgivable attempt to increase sales in this Googlfied world. But this is their failure. While the original edition was a fine, even respectable voice on bridging the knowledge of the intended audience of physicists-turned financial quant, this edition fails on the over covered subject of derivative pricing simply because it is not theoretical, but an empirical and technical review of historical data sets and assumptions and pricing techniques with critiques of the observed differences between theory and empirical results. Needless to say, this fails the smell test in physics, but in finance is as common as Shinola.
Sorry, but critiques of B-S assumptions and better curve fitting is technical, not theoretical. In other words, the theory of why third and fourth moments (skew and kurtosis) become operative and currently present arbitrage opportunities or risk management concerns is not adequately addressed, merely observed, expressed, and called attention to. Moreover, third and fourth moments are approached from a formulaic perspective intended primarily for risk managers and those seeking to make a buck (such as the authors themselves) and have only dangers emphasized. So formulas and expression yes, pure theory no.
Other reviewers have complained about a thematic Gauss-Levy versus Bachelier tone. Ho hum. For the day to day market maker (readers of Baird) such arguments pale in comparison to managing simply the delta of your book. For the physicist, the ghastly collection of noise and spikes that passes for a data set in finance will likely simply better be explained by long periods of madness followed by fleeting moments of clarity than any Procrustean attempt at better curve fitting informed for the empirical work of observing the data signals of a star's decay. Perhaps the only person Bouchaud and Potters's theoretical practical bridge tweaking would have assistance for would be the risk manager of the completely non-correlated short duration portion of the balance sheet of an international bank. Who also happened to be very powerful and have actual accurate real-time data and could implement these ideas. Scale? North of 8 billion before this is useful. Yep, in such a theta world Bachelier's technique rules. But we don't live in such a world yet, although risk managers everywhere delude themselves that they do, often armed with the likes of this book.
Let me hasten to add that Theory is not a bad thing, but its utility best serves the finmath community when it is clearly and explicitly so, without attempting techne and erte. This book is a forgivable beast with two backs, strongly skewed to a good critique of Theory and with fat tails of empiricism, and a bad attempt to be practical. This work therefore, again forgivably, is bound to disappoint practitioners. Joshi is your better bet.
Who is this book not for? Readers and users of Baird, Joshi and Hull and coding front-line quants and risk managers who live in a world of imperfect and delayed data sets will likely find this pointless academic obfuscation. Whom is this book for? I'm a finance guy, not a physicist, and so I read this book in a cyber book group with a theoretical physicist friend. He characterized the book as easy reading for him, but with little new to add that wasn't already known by the reasonably informed physicist turned finquant. His take was that it was a painfully obvious work, curiously passed off as original thinking when in reality it was simply a useful synthesis of common, though specialized knowledge. My take was it was tough sledding to get to obvious conclusions that anyone who has ever run an options book knows through painful experience or wise counsel. Elegantly expressed at a high level for a well-educated readership, but not exactly a holy grail. In other words, the juice wasn't worth the squeeze.
Longs and Shorts of the Theory of Financial Risk.......2006-06-10
The major achievement of the book is concise presentation of the latest discoveries of the authors and their co-authors (Cont, Matacz). The discoveries are so significant that will lead in some 20 years to a Nobel Prize in Economics. They are: non-uniqueness of the option's price; role of kurtosis (the fourth moment of the price distribution) for volatility smile formula; a simple "square-root" formula for the FRC (forward rate curve of interest rate) accompanied by a simple explanation of a market mechanism behind it; deep "psychological" explanation (via Langevin equation) of the exponents 3-5 in the power-type tails of the price distributions; explanation of why VaR is systematically underestimated by Black-Scholes theory. However, all these discoveries require different mathematics and so far the authors are in search for the correct way to present them together coherently. There are several loose ends: many non-Gaussian approximations (which likely came from JPB's early works in physics and still beloved by him) without practical tools to estimate them; in the interesting chapter on random matrixes missing is a "market" explanation of the meaning of the eigenstates which stand behind 10% of "non-random" eigenvalues; absence of a serious discussion about exotic options points out to a difficulty to extend authors' methods toward more general options (while the regular PDE approach taken by other authors, like Wilmott, allows such an extension almost naturally).
Fat tails and more.......2002-06-05
This text has a nice discussion of Levy distributions and (important!) discusses why the central limit theorem does not apply to the tails of a distribution in the limit of many independent random events. An exponential distribution is given as an example how the CLT fails. I was first happy to see a chapter devoted to portfolio selection, but the chapter (like most of the book) is very difficult to follow (I gave up on that chapter, unhappily, because it looked interesting). The notation could have been better (to be quite honest, the notation is horrible), and the arguments (many of which are original) could have been made sharper and clearer. For my taste, too many arguments in the text rely on uncontrolled approximations, with Gaussian results as special limiting cases. The chapters on options are original, introducing their idea of history-dependent strategies (however, to get a strategy other than the delta-hedge does not not require history-dependence, CAPM is an example), but the predictions too often go in the direction of showing how Gaussian returns can be retrieved in some limit (I find this the opposite of convincing!). For an introduction to options, the 1973 Black-Scholes paper is still the best (aside from the wrong claim that CAPM and the delta-hedge yield the same results). The argument in the introduction in favor of 'randomness' as the origin of macroscopic law left me as cold as a cucumber. On page 4 a density is called 'invariant' under change of variable whereas 'scalar' is the correct word (a common error in many texts on relativity). The explanation of Ito calculus is inventive but inadequate (see instead Baxter and Rennie for a correct and readable treatment, one the forms the basis for new research on local volatility). Also, utlility is once mentioned but never criticized. Had the book been more pedagogically written then one could well have used it as an introductory text, given the nice choice of topics discussed.
Reply to the previous reviewer.......2001-07-29
Unfortunately, but not surprisingly, the previous reviewer prefered to remain anonymous. Otherwise, we would happily have argued with him privately. But his review contains so many erroneous and obnoxious statements that we feel we have to reply publicly, at least on the most important points.
a) After spending a full chapter (2) on empirical data and faithful models to describe them, we only price options using...the Brownian motion, says our reviewer (not even the Black-Scholes model, adds he). Well, either the reviewer has only casually browsed through our book, or this is total bad faith and disinformation. After discussing a general option pricing formula, we indeed illustrate it first (4.3.3) with the Black-Scholes model, then with Bachelier's (Brownian) model which, as we explain, is actually a better model for short term options. But the rest of the chapter is entirely devoted to non-Gaussian effects: a theory of the smile, its relation with kurtosis and long-ranged correlation in the volatility, and comparison with actual market smiles (4.3.4), and more importantly, the hedging strategies and residual risk (4.4), alternative hedging strategies for Value-at-Risk control (4.4.6), etc. The emphasis on risk, absent in the Black-Scholes world, is our main message, and partly justifies the title of our book.
b) "There is no statistical physics" in our book, moans the reviewer. Our aim was not to draw phoney analogies, but to present this field in the spirit of statistical physics, with what we feel is an interesting balance between intuition and rigour. (Many physicists feel stranded when reading standard mathematical finance books, where data is scarce, and rigour hides the inadequacies of the models). However, there are several genuine inputs from statistical physics, e.g. data processing, approximations, simple agent based models (2.8-9), functional derivatives to obtain optimal hedges (4.4), saddle point estimates of the Value at Risk for complex portfolios (5.4) and finally, Random Matrices that the reviewer finds unduly complex -- perhaps only because new to him. However, this is contained in "starred" section, indicating that it can be skipped at first reading, as many more advanced sections.
Two more details. We indeed sometimes consider independent random variables, sometimes only uncorrelated, hopefully not confusing the two. If the reviewer spotted incorrect statements, we would be grateful to him if we can correct them in further editions. Second, our book is not meant to provide ready to implement recipes but to present a different way of thinking about finance. Nevertheless, many of the ideas have already been implemented and are used by several (open minded?) financial institutions.
Can do more harm than good.......2001-07-26
This book is a supposedly new approach to financial modeling from the viewpoint of "statistical physics". In fact, it is far from being that. First, there is little or no content really related to statistical physics in it. Apart from the fact that random variables and stochastic processes are also used in physics, the only feature in common between statistical physics and this book is some notational similarities and a lack of rigour which, justified in the case where it is supplemented by physical intuition, leads here to numerous mistakes and sloppy reasoning.
The title, while promising, is quite arrogant: not only there is no "theory of financial risks" in the book but many of the main issues of risk management are not even mentioned: Value at Risk receives less than a page at the end, while hedging of exotic options is not even an issue.
Also, while the first part of the book insists on choosing the correct distribution for price returns, the chapter on options exclusively gives computations for the case of ...Brownian motion (not even exponential Brownian motion)! One is left wondering whether these fancy models presented in the first part were worth mentioning?
Another point is the readership of this book: given the notational complexity of the book and the analogies with physics, only a PhD in theoretical physics can possibly find this book readable. In fact, a finance student will find it too light on the finance side while a math-minded student will find it too sloppy and imprecise.
The surprisingly low level of mathematical rigour - one confuses regularly "uncorrelated" with "independence"- is nevertheless accompanied by an incredibly sophisticated set of tools such as random matrix theory, which are exotic even for professional researchers. Perhaps it would be better to spend more time explaining the concept of stochastic volatility or nonstationarity than rocketing the reader into unknown grounds...
I come to the conclusion that the aim of the book is more to impress the reader about the technical sophistication of the authors than to teach anything in a clear manner.
Although OK as a bedtime reader, this book certainly does not contain anything one can practically implement: in fact the presentation is so imprecise that one is lost in the successive and uncontroled approximations, not knowing at the end what is the algorithm proposed to solve a given problem.
Book Description
This text provides a thorough treatment of futures, 'plain vanilla' options and swaps as well as the use of exotic derivatives and interest rate options for speculation and hedging. Pricing of options using numerical methods such as lattices (BOPM), Mone Carlo simulation and finite difference methods, in additon to solutions using continuous time mathematics, are also covered. Real options theory and its use in investment appraisal and in valuing internet and biotechnology companies provide cutting edge practical applications.
Practical risk management issues are examined in depth. Alternative models for calculating Value at Risk (market risk) and credit risk provide the throretical basis for a practical and timely overview of these areas of regulatory policy.
This book is designed for courses in derivatives and risk management taken by specialist MBA, MSc Finance students or final year undergraduates, either as a stand-alone text or as a follow-on to Investments: Spot and Derivatives Markets by the same authors.
The authors adopt a real-world emphasis throughout, and include features such as:
* topic boxes, worked examples and learning objectives
* Financial Times and Wall Street Journal newspaper extracts and analysis of real world cases
* supporting web site including Lecturer's Resource Pack and Student Centre with interactive Excel and GAUSS software
Customer Reviews:
Ideal Intro bk for a Financial Engineering/Risk Mgt course.......2003-04-28
This is probably the ideal introductory textbook for advanced undergrad or MBA/MSc Finance majors for their first Financial Engineering or Risk Management courses.
New students of these subjects would benefit more from reading this textbook than from reading the much more celebrated (whether deserving or not is up to debate) and yet much more expensive John Hull's classic 'Options, Futures, and other Derivatives', despite the fact that Hull's book is a favorite among many college professors (Hull's book was, incidentally, the textbook used in my MBA options and derivatives course)
There are many reasons that I feel this book represents good value and provides a smooth introduction into the world of financial engineering:
1. Comprehensive: All the major financial products and derivatives are thoroughly covered. Advanced topics such as Chooser options and real options are included as well.
2. Available computer/spreadsheet models: To supplement the excellent coverage in the textbook, the author have made available codes on his website for students to download and to further their self-study. The spreadsheets are professionally done and I found them very useful, either as learning tools or as template to develop more advanced models.
3. Clarity of exposition: The style is straightforward, avoiding unnecessary jargons. Yet the authors walk you through each step of the way using examples, graphs(plenty of them), fully developed equations, and tables.
4. Math and theoretical Rigor: This book does not lack mathematical rigor. Technical appendices are included as well, e.g. Ito's Lemma. If needed, relevant literature is quoted for the student to further his/her study.
5. Solid Value: this book can be had for less than fifty dollars. A bargain compared to many other finance books of similar caliber. Getting this book is like getting two for the price of one: both the financial engineering section and that of risk management could have been sold as two separate volumes.
With this book the authors have paved the way for the new students of FE and Risk management to explore these fascinating world. You will not regret the purchase.
Average customer rating:
- Dated and with plenty of mistakes
- Very much better than some people might think!
- Covers a lot of grounds on derivatives. Great reference.
- Caveat Emptor
- Financial Book, not for begineer
|
Managing Financial Risk: A Guide to Derivative Products, Financial Engineering, and Value Maximization
Charles W. Smithson
Manufacturer: McGraw-Hill
ProductGroup: Book
Binding: Hardcover
 Corporate Finance
| Finance
| Business & Investing
| Subjects
| Books
General
| Business & Investing
| Subjects
| Books
Futures
| Investing
| Business & Investing
| Subjects
| Books
General
| Investing
| Business & Investing
| Subjects
| Books
Management & Leadership
| Business & Investing
| Subjects
| Books
| Business Ethics
| Consolidation & Merger
| Decision-Making & Problem Solving
| Distribution & Warehouse Management
| Industrial
| Information Management
| Leadership
| Management
| Management Science
| Motivational
| Negotiating
| Operations Research
| Planning & Forecasting
| Pricing
| Production & Operations
| Project Management
| Quality Control
| Risk Assessment
| Statistics
| Strategy & Competition
| Systems & Planning
| Systems Analysis
| Teams
| Total Quality Management
| Training
General
| Finance
| Accounting & Finance
| Professional & Technical
| Subjects
| Books
General
| Business & Finance
| New & Used Textbooks
| Stores
| Books
Corporate
| Finance
| Business & Finance
| New & Used Textbooks
| Stores
| Books
Investing
| Finance
| Business & Finance
| New & Used Textbooks
| Stores
| Books
All Amazon Upgrade
| Amazon Upgrade
| Stores
| Books
Business & Investing
| Amazon Upgrade
| Stores
| Books
Professional & Technical
| Amazon Upgrade
| Stores
| Books
All Titles
| Qualifying Textbooks - Fall 2007
| Stores
| Books
Business & Investing
| Qualifying Textbooks - Fall 2007
| Stores
| Books
Professional
| Qualifying Textbooks - Fall 2007
| Stores
| Books
Similar Items:
-
An Introduction to Derivatives and Risk Management (with Stock-Trak Coupon)
-
Futures, Options, and Swaps
-
Valuation of Fixed Income Securities and Derivatives, 3rd Edition
-
The Volatility Surface: A Practitioner's Guide (Wiley Finance)
-
Fixed Income Securities: Tools for Today's Markets, Second Edition
ASIN: 007059354X |
Book Description
Managing Financial Risk is the most authoritative and comprehensive primer ever published for financial professionals who must understand and successfully use derivaties. The previous edition of this professional financial classic sold over 18,000 copies and emerged as a leading training tool in the derivatives industry. The book covers derivative products from the most basic to the most complex and explains how derivatives are used by each major player in the market: dealers, financial firms, and corporations. In addition, the book includes short contributions from a variety of experts from leading companies such as Citibank, J.P. Morgan, British Petroleum, and Ciba-Geigy. Completely updated to include new material on new products such as commodity swaps and credit swaps, this edition will cover every aspect of the derivatives marketplace with insight and authority.
Customer Reviews:
Dated and with plenty of mistakes.......2006-03-01
I had to buy this book as it was the text book for one of the subjects that I am studying.
Dated: e.g. Many examples that deal with European currencies that were replaced by the Euro.
Errors: In the illustrations, there are some calculations that take incorrect parameters to derive the results (obviously yielding wrong results). This is misleading and time consuming.
Verbosity: The book explains in twenty pages something that can be explained in five.
No good.
Very much better than some people might think!.......2005-11-30
For those of you who may not be aware, Charles Smithson is the "father" of the building-block approach to making derivatives understandable, showing a linked, family-tree approach, rather than each explaining each one separately with no clear connections. He is both a top practitioner with many years of senior-level experience, as well as an academic for more theoretical work.
I am amazed at some of the negative reviews. I can only think that is because there aren't enough partial differential equations and complex pricing/hedging models (there really aren't any, but that doesn't make this a simplistic book). I also teach finance at the Masters level, as well as teaching practical applications of derivatives to various bank clients.
In my oppinion, this is the single best book on derivatives for non-specialists that I have seen (and I have seen most of the derivatives books around). Even people on the trading floor would benefit from the clear forest-for-the-trees approach. This is not an easy book, though it doesn't require any more than school algebra (with the exeption of one chapter on option pricing, contributed by Cliff Smith and, even there, the calculus could be skipped over lightly). This book will give the reader a very good understanding of the most important aspects of derivatives and their applications. This is something that is often woefully lacking in banks, where the focus is on the minutiae of quantitative models, treated almost as an exercise in math, without a very clear understanding of the finance that the math is there to model. The treatment is broad and balanced, from pure product knowledge to issuer applications to investor applications and to banks managing their own market risk. This breadth is very rare in derivatives books.
My only criticisms are that there are some mistakes (as in most technical books that are not textbooks, benefiting from the review of many students, if you look hard enough for them) and there is insufficient emphasis now on credit derivatives and the management of credit risk, though I feel sure Charles Smithson will address that in the next edition - he has written a separate book "Credit Portfolio Management."
Perhaps someone should take up the offer of a free copy from a previous reviewer - a real "free lunch." I highly recommend this book to relative beginners, as well as to experienced practitioners who want more breadth.
Covers a lot of grounds on derivatives. Great reference........2003-05-29
I bought this book to give myself a thorough education on derivatives. And, I got it. It is very readable, yet it covers all the topics in adequate technical detail, so you can hold your own in the company of derivatives traders and the like. I often refer to this book, to refresh my memory on the different structure of option models, or how to value an interest rate swap. This is the sort of stuff you will not remember unless you use these concepts on a weekly basis. But, with this book, it does not matter, it is easy to refresh your knowledge.
Caveat Emptor.......2001-10-04
I also use this book as part of the Masters course in Sydney and I cannot remember the last time I picked it up to read as I have better things to do with my time than try and work through the glaring errors in formulae, graphs and general commentary. The presentation is verbose and circumlocutory and to add to the frustration often wrong. I feel obliged to warn potential buyers not to make the same mistake that I have. Gallitz on Financial Engineering is a far more interesting and accurate text and for the rigours of applied financial maths Mastering financial calculations teaches you more in 200 pages than Smithson could in a lifetime of trying to improve on this first edition. If anyone would like my copy of Smithson I'm happy to give it away for fear further sales may encourage McGraw Hill to continue publishing the book.
Financial Book, not for begineer.......2000-09-16
The book is written in a complex way. For example, a simple future contract, was explained in long and complex way. It is not able to show the point directly. Anyway, it is not a bad point. It has some quite excellent practical example. It is the most valuable parts of the book.
Average customer rating:
|
Derivatives Handbook: Risk Management and Control (Wiley Series in Financial Engineering)
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover
General
| Popular Economics
| Business & Investing
| Subjects
| Books
Public Finance
| Economics
| Business & Investing
| Subjects
| Books
General
| Business & Investing
| Subjects
| Books
General
| Investing
| Business & Investing
| Subjects
| Books
General
| Finance
| Accounting & Finance
| Professional & Technical
| Subjects
| Books
General
| Business & Finance
| New & Used Textbooks
| Stores
| Books
Investing
| Finance
| Business & Finance
| New & Used Textbooks
| Stores
| Books
All Amazon Upgrade
| Amazon Upgrade
| Stores
| Books
Business & Investing
| Amazon Upgrade
| Stores
| Books
Professional & Technical
| Amazon Upgrade
| Stores
| Books
All Titles
| Qualifying Textbooks - Fall 2007
| Stores
| Books
Business & Investing
| Qualifying Textbooks - Fall 2007
| Stores
| Books
Professional
| Qualifying Textbooks - Fall 2007
| Stores
| Books
ASIN: 0471157651 |
Book Description
While derivatives continue to play an increasingly vital role in driving today's global financial markets, they also continue to be one of the most complicated and often misunderstood financial instruments in the marketplace. In Derivatives Handbook: Risk Management and Control, two of the field's leading experts bring together the best, current cutting-edge thinking on derivatives to provide a comprehensive and accessible resource on risk management.
Derivatives Handbook presents a cogent, clear-eyed, and fresh perspective with an all-star roster of leading practitioners, academics, attorneys, accountants, consultants, and professionals who share their invaluable insights. These seasoned players provide incisive discussions on a wide range of topics, including Risk and Regulation in Derivatives Markets, Credit Derivatives, and Minimizing Operations Risk. Plus, there are comprehensive sections dedicated to case law and legal risk, risk measurement, risk oversight, regulation, and transparency and disclosure.
For further guidance, Derivatives Handbook provides a concise survey of literature on some of the most significant scholarship in recent years. This book contains a wealth of probing, informative articles for not only finance professionals, but also for senior managers, corporate boards, lawyers, students, and anyone with an interest in the financial markets.
Derivatives-the latest thinking, the top minds in the field, the newest applications
Derivatives Handbook: Risk Management and Control brings together the latest and best thinking on derivatives and risk management from some of the world's leading practitioners, academics, attorneys, accountants, consultants, and professionals all in one acclaimed book.
Robert Schwartz and Clifford Smith have created a solid resource for derivatives use. Sections include:
* Risk and Regulation in Derivatives Markets
* Credit Derivatives Report Card on VAR
* Hedge Accounting
* Minimizing Operations Risk The Board of Directors' Role
* Firm-wide Risk Management
An entire section of derivative case studies
* Plus, a complete review of case law affecting swaps and related derivative instruments
"Derivatives Handbook: Risk Management and Control covers a wide range of subjects related to risk management-including legal risks, accounting issues, the current global regulatory debate and an explanation of how to manage and measure risk. The editors have formed a truly impressive group of contributors. This book strikes a good balance throughout to focus on the significant issues in the industry and provide a broad perspective on risk management."- Gay H. Evans, Senior Managing Director, Bankers Trust International, PLC and Chairman of the International Swaps and Derivatives Association
Derivatives Handbook: Risk Management and Control provides the most reliable, current information and authoritative guidance for anyone with an interest in the derivatives markets.
The Contributors
Brandon Becker, Tanya Styblo Beder, Harold Bierman, Jr., Wendy H. Brewer, Michael S. Canter, Andrew J. C. Clark, Christopher L. Culp, Daniel P. Cunningham, Franklin R. Edwards, Gerald D. Gay, Anthony C. Gooch, Wendy Lee Gramm, Alan Greenspan, Margaret E. Grottenthaler, Douglas E. Harris, Ludger Hentschel, Jamie Hutchinson, Frank Iacono, James V. Jordan, Linda B. Klein, Anatoli Kuprianov, James C. Lam, Robert J. Mackay, Robert M. Mark, Francois-Ihor Mazur, Joanne T. Medero, Antonio S. Mello, Merton H. Miller, John E. Parsons, Jeffrey L. Seltzer, Charles W. Smithson, and Thomas J. Werlen.
Customer Reviews:
Depth and width.......2000-05-13
There are two ways to write a book: provide a lot of specialist information on a specialised topic (well) or provide a lot of superficial information that covers everything relevant (lake). Surprisingly, this book achieves both of these objectives.
Average customer rating:
- Good Coverage
- Financial Models Using Simulation and Optimaization
|
Risk Management and Analysis, Measuring and Modelling Financial Risk (Wiley Series in Financial Engineering)
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover
General
| Popular Economics
| Business & Investing
| Subjects
| Books
Public Finance
| Economics
| Business & Investing
| Subjects
| Books
Corporate Finance
| Finance
| Business & Investing
| Subjects
| Books
General
| Business & Investing
| Subjects
| Books
General
| Accounting
| Industries & Professions
| Business & Investing
| Subjects
| Books
Futures
| Investing
| Business & Investing
| Subjects
| Books
General
| Investing
| Business & Investing
| Subjects
| Books
Applied
| Mathematics
| Science
| Subjects
| Books
| Biomathematics
| Computer Mathematics
| Differential Equations
| Engineering
| Game Theory
| General
| Graph Theory
| Linear Programming
| Probability & Statistics
| Vector Analysis
General
| Accounting
| Accounting & Finance
| Professional & Technical
| Subjects
| Books
General
| Finance
| Accounting & Finance
| Professional & Technical
| Subjects
| Books
General
| Accounting
| Business & Finance
| New & Used Textbooks
| Stores
| Books
General
| Business & Finance
| New & Used Textbooks
| Stores
| Books
Corporate
| Finance
| Business & Finance
| New & Used Textbooks
| Stores
| Books
Investing
| Finance
| Business & Finance
| New & Used Textbooks
| Stores
| Books
All Amazon Upgrade
| Amazon Upgrade
| Stores
| Books
Business & Investing
| Amazon Upgrade
| Stores
| Books
Professional & Technical
| Amazon Upgrade
| Stores
| Books
Science
| Amazon Upgrade
| Stores
| Books
All Titles
| Qualifying Textbooks - Fall 2007
| Stores
| Books
Similar Items:
-
Risk Management and Analysis, New Markets and Products (Wiley Series in Financial Engineering)
-
The Black Swan: The Impact of the Highly Improbable
ASIN: 0471979570 |
Book Description
Risk Management and Analysis Volume 1 Measuring and Modelling Financial Risk Edited by Carol Alexander In the two years since the publication of The Handbook of Risk Management and Analysis interest and the practice of management, modelling and control of financial risks has grown enormously. The author/editor has produced two stand-alone or companion volumes. Only one third of the original material remains. Measuring and Modelling Financial Risk has been structured in four parts: the first three chapters survey standard approaches to measuring and modelling financial risk from the risk manager perspective, Chapters 4 and 5 are aimed primarily at quantitative risk analysts whose job it is to put the systems in place. Chapters 6 and 7 discuss important issues in IT and systems design, and the last two chapters cover pricing and risk management of credit-risky products. Leading figures in the field contribute: Michel Crouhy, Dan Galai and Robert Mark, Stan Beckers, Thomas Wilson, Mark Broadie and Paul Glasserman, Nigel Webb, Ron Dembo, Robert Jarrow and Stuart Turnbull, and Lee Wakeman. "Risk management is becoming an increasingly important activity for financial institutions, fund managers, and corporate treasurers. It used to be the case that the brightest 'quants' were used to design and value ever-more-exotic derivatives. Now increasingly they are finding that their talents can best be put to work in risk management. In this volume Carol Alexander has gathered together nine articles concerned with different aspects of risk management and analysis. The topics covered include the regulatory framework, volatility and correlation models, value at risk, and credit risk. The book will provide a valuable source of reference material for both market participants and students." John Hull, August 1998
Customer Reviews:
Good Coverage.......2000-03-24
This book covers the topic very well. It is clear and concise. Useful for anyone who wants an overview of risk management concepts. But if you are like me who understands better with lots of numbers and examples, this is not it.
Financial Models Using Simulation and Optimaization.......1999-12-17
A good book to tell you methodical risk analysis in the area of fincance and marketing. If more interpretaions of analysis results written there, I would have rated it as "5" stars.
Average customer rating:
- A little dated but a great reference
- Excellent content, but misleading title.
- Great Collection of Papers
- Great Collection of Papers
|
Risk Management and Analysis, New Markets and Products (Wiley Series in Financial Engineering)
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover
General
| Popular Economics
| Business & Investing
| Subjects
| Books
General
| Business & Investing
| Subjects
| Books
General
| Accounting
| Industries & Professions
| Business & Investing
| Subjects
| Books
Futures
| Investing
| Business & Investing
| Subjects
| Books
General
| Investing
| Business & Investing
| Subjects
| Books
General
| Accounting
| Accounting & Finance
| Professional & Technical
| Subjects
| Books
General
| Finance
| Accounting & Finance
| Professional & Technical
| Subjects
| Books
All Amazon Upgrade
| Amazon Upgrade
| Stores
| Books
Business & Investing
| Amazon Upgrade
| Stores
| Books
Professional & Technical
| Amazon Upgrade
| Stores
| Books
Similar Items:
-
Risk Management and Analysis, Measuring and Modelling Financial Risk (Wiley Series in Financial Engineering)
ASIN: 0471979597 |
Book Description
The author/editor has produced two stand-alone or companion volumes. Only one third of the original material remains.
New Markets and Products begins with two chapters on emerging markets. The book then goes on to cover markets and products of increasing complexity: standard equity and interest rate derivatives, exotic options, swap (and swaptions), volatility trading and finally credit derivatives.
The contributors are all acknowledged experts in their fields: Michael Howell, Mark Fox, Ian King, Chris Rogers, Andrew Street, Riccardo Rebonato, Edmond Levy, Bryan Thomas, Vincent Lacoste, Desmond Fitzgerald and Blythe Masters.
New Markets and Products will be an essential reference tool for risk managers, institutional investors, fund managers, bankers, corporate treasurers and financial consultants.
"In this volume Carol Alexander has gathered together ten articles that are concerned with important recent developments in financial markets. Two of the articles are concerned with emerging markets. They explore the reasons for their growth and the nature of the investment opportunities available. The remaining eight articles are concerned with derivatives. There are chapters on equity derivatives, interest rate derivatives, exotic options, volatility trading, and credit derivatives. The final chapter on credit derivatives is particularly timely. This market is in the process of transforming the way banks manage credit risk. I have seen no other discussion of the market as comprehensive and useful as that provided by Blythe Masters.
Market participants and students alike will find much useful and thought-provoking information in this volume."
- John Hull, August 1998
Customer Reviews:
A little dated but a great reference.......2005-04-02
The articles presented in this book definitely provide a good foundation of concepts required for FRM and Financial Markets.
Excellent content, but misleading title........2001-10-11
This book is a continuation of volume 1 - being that it is purely focused on financial markets and financial products. I was looking for a book on managing risk surrounding the development of new products (i.e. goods) and services for the market place. These issues are VERY different than those surrounding financial products in a nearly efficient market. I'll keep the book for the excellent content, but beware - it's probably not what you might expect!
Great Collection of Papers.......1997-07-24
The chapters on Interest Rate Option Models (Riccardo Rebonato) and Calculating Risk Capital (Thomas Wilson) are great critical surveys on their respective topic
Great Collection of Papers.......1997-07-23
The chapters on Interest Rate Option Models (Riccardo Rebonato) and Calculating Risk Capital (Thomas Wilson) are great critical surveys on their respective topic
Average customer rating:
|
MANAGING CATASTROPHIC RISK THROUGH INSURANCE AND SECURITIZATION.: An article from: American Journal of Agricultural Economics
Olivier Mahul
Manufacturer: American Agricultural Economics Association
ProductGroup: Book
Binding: Digital
Nonfiction
| Subjects
| Books
| Automotive
| Books on CD
| Books on Cassette
| Crime & Criminals
| Current Events
| Economics
| Education
| Foreign Language Nonfiction
| Government
| Holidays
| Law
| Philosophy
| Politics
| Social Sciences
| Transportation
| True Accounts
| Urban Planning & Development
| Women's Studies
Management
| Management & Leadership
| Business & Investing
| Subjects
| Books
Management
| Business & Investing
| Subjects
| e-Docs
| Formats
| Books
General
| Nonfiction
| HTML
| Formats
| e-Docs
| Formats
| Books
ASIN: B0009FEGKQ
Release Date: 2005-07-28 |
Book Description
This digital document is an article from American Journal of Agricultural Economics, published by American Agricultural Economics Association on August 1, 2001. The length of the article is 3615 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: MANAGING CATASTROPHIC RISK THROUGH INSURANCE AND SECURITIZATION.
Author: Olivier Mahul
Publication:
American Journal of Agricultural Economics (Refereed)
Date: August 1, 2001
Publisher: American Agricultural Economics Association
Volume: 83
Issue: 3
Page: 656
Distributed by Thomson Gale
Books:
- Mergers & Acquisitions
- Modeling Structured Finance Cash Flows with Microsoft Excel: A Step-by-Step Guide.Book & CD-ROM
- Modern Investment Management: An Equilibrium Approach
- Money, Banking, and Financial Markets
- Neoclassical Finance (Princeton Lectures in Finance)
- Nonparametric Econometrics
- Option Volatility & Pricing: Advanced Trading Strategies and Techniques
- Options, Futures and Other Derivatives (6th Edition)
- PMP Exam Prep, Fifth Edition: Rita's Course in a Book for Passing the PMP Exam
- Professional Electronic Trading
Books Index
Books Home
Recommended Books
- Family Tree
- A-List #8, The: Heart of Glass: An A-List Novel
- The Show Starts on the Sidewalk: An Architectural History of the Movie Theatre, Starring S. Charles
- The Old Farmer's Almanac 2007 Every Day Calendar
- The Will to Believe, Human Immortality
- Baby Bargains: Secrets To Saving 20% To 50% On Baby Furniture, Equipment, Clothes, Toys, Maternity W
- Winterkill
- Healthcare Spaces No.2
- The Russian House: Architecture and Interiors
- Valediction
Principles of Financial Engineering (Academic Press Advanced Finance)
The Concepts and Practice of Mathematical Finance (Mathematics, Finance and Risk)
Introduction to the Mathematics of Financial Derivatives
Stochastic Calculus for Finance I: The Binomial Asset Pricing Model (Springer Finance)
Financial Calculus : An Introduction to Derivative Pricing
Interest Rate Models - Theory and Practice: With Smile, Inflation and Credit (Springer Finance)
Monte Carlo Methods in Financial Engineering (Stochastic Modelling and Applied Probability)
