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Derivatives Markets and Analysis
by R. Stafford JohnsonA practical, informative guide to derivatives in the real world Derivatives is an exposition on investments, guiding you from the basic concepts, strategies, and fundamentals to a more detailed understanding of the advanced strategies and models. As part of Bloomberg Financial's three part series on securities, Derivatives focuses on derivative securities and the functionality of the Bloomberg system with regards to derivatives. You'll develop a tighter grasp of the more subtle complexities involved in the evaluation, selection, and management of derivatives, and gain the practical skillset necessary to apply your knowledge to real-world investment situations using the tools and techniques that dominate the industry. Instructions for using the widespread Bloomberg system are interwoven throughout, allowing you to directly apply the techniques and processes discussed using your own data. You'll learn the many analytical functions used to evaluate derivatives, and how these functions are applied within the context of each investment topic covered. All Bloomberg information appears in specified boxes embedded throughout the text, making it easy for you to find it quickly when you need or, or easily skip it in favor of the theory-based text. Managing securities in today's dynamic and innovative investment environment requires a strong understanding of how the increasing variety of securities, markets, strategies, and methodologies are used. This book gives you a more thorough understanding, and a practical skillset that investment managers need. Understand derivatives strategies and models from basic to advanced Apply Bloomberg information and analytical functions Learn how investment decisions are made in the real world Grasp the complexities of securities evaluation, selection, and management The financial and academic developments of the past twenty years have highlighted the challenge in acquiring a comprehensive understanding of investments and financial markets. Derivatives provides the detailed explanations you've been seeking, and the hands-on training the real world demands.
Derivatives Models on Models
by Espen Gaarder HaugDerivatives Models on Models takes a theoretical and practical look at some of the latest and most important ideas behind derivatives pricing models. In each chapter the author highlights the latest thinking and trends in the area. A wide range of topics are covered, including valuation methods on stocks paying discrete dividend, Asian options, American barrier options, Complex barrier options, reset options, and electricity derivatives.The book also discusses the latest ideas surrounding finance like the robustness of dynamic delta hedging, option hedging, negative probabilities and space-time finance. The accompanying CD-ROM with additional Excel sheets includes the mathematical models covered in the book.The book also includes interviews with some of the world's top names in the industry, and an insight into the history behind some of the greatest discoveries in quantitative finance. Interviewees include:Clive Granger, Nobel Prize winner in Economics 2003, on CointegrationNassim Taleb on Black SwansStephen Ross on Arbitrage Pricing TheoryEmanuel Derman the Wall Street QuantEdward Thorp on Gambling and TradingPeter Carr the Wall Street Wizard of Option Symmetry and VolatilityAaron Brown on Gambling, Poker and TradingDavid Bates on Crash and JumpsAndrei Khrennikov on Negative ProbabilitiesElie Ayache on Option Trading and ModelingPeter Jaeckel on Monte Carlo SimulationAlan Lewis on Stochastic Volatility and JumpsPaul Wilmott on Paul WilmottKnut Aase on Catastrophes and Financial EconomicsEduardo Schwartz the Yoga Master of Quantitative FinanceBruno Dupire on Local and Stochastic Volatility Models
Derivatives Unlocked: A Practitioner’s Perspective
by Philippe DufournierDerivatives Unlocked: A Practitioner's Perspective offers the reader a practical explanation of the key concepts behind the design of financial derivatives. Resolutely selective and user-friendly, this book constitutes a hands-on introduction to both the structuring and use cases of derivatives products in modern global finance.The book is organised around two parallel streams of content. On the one hand, the Derivatives Toolbox comes as a set of pricing rules that underpin the building blocks of most derivatives products, namely discounting, duration and convexity, interest rates and credit default swaps, forwards and options. The methodology is approachable, simplified whenever possible, and does not require advanced mathematical training.On the other hand, the Case Studies, largely inspired by real European corporate finance and corporate risk management situations, allow the reader to (i) make explicit use of the techniques learned as he or she progresses through the Toolbox and (ii) to grasp the effective power of derivatives solutions.Features: Easy to follow for non-specialists, helping them build a solid and empirical foundation to encourage continued learning. Provides a unique insight, balanced between the acquisition of technical tools and their practical applications Contains numerous case studies and other support material making it suitable for both students and practitioners.
Derivatives Workbook
by Wendy L. PirieApply practical derivatives knowledge to truly test your understanding Derivatives Workbook offers practical instruction for students and professionals seeking additional guidance on working with derivatives instruments. Created by CFA Institute as a companion to the comprehensive Derivatives text, this book helps you practice using what you've learned through problems that mimic real-world scenarios. Working with different derivatives instruments helps you gauge how well you understand the instruments' characteristics, both shared and unique; this intimate knowledge is essential to effective portfolio management, and this book provides an expertly-designed, low-stakes environment ideal for self-assessment. Derivatives—financial instruments that derive their value from the value of some underlying asset—have become increasingly important for effective risk management, and fundamental for creating synthetic exposures to asset classes. Whether you're a student aspiring to a career in finance, or a professional seeking a stronger skill set, this workbook is an invaluable tool for simulating the use of derivatives in everyday practice.
Derivatives Workbook (CFA Institute Investment Series)
by CFA InstituteHands-on practice with derivatives and derivative markets based on real-world scenarios Derivatives Workbook provides the key component of effective learning—practice. Designed for both students and investment professionals, this companion workbook conveniently aligns with the Derivatives text chapter-by-chapter, offers brief chapter summaries to refresh your memory on key points before you begin working, and explicitly lays out the learning objectives so you understand the “why” of each problem. This workbook helps you: Synthesize essential material from the Derivatives text using real-world applications Understand the different types of derivatives and their characteristics Delve into the various markets and their associated contracts Examine the role of derivatives in portfolio management Learn why derivatives are increasingly fundamental to risk management CFA Institute is the world's premier association for investment professionals, and the governing body for CFA® Program, CIPM® Program, CFA Institute ESG Investing Certificate, and Investment Foundations® Program. Those seeking a deeper understanding of the markets, mechanisms, and use of derivatives will value the level of expertise CFA Institute brings to the discussion as well as the extra practice delivered in Derivatives Workbook based on real scenarios investors face every day.
Derivatives and Development
by Sasha Breger BushBreger Bush argues that derivatives markets work in the development context as engines of inequality and instability, aggravating poverty among those they are purported to help and highlighting some of the dangers of neoliberal globalization for the poor.
Derivatives and Internal Models: Modern Risk Management (Finance and Capital Markets Series)
by Hans-Peter Deutsch Mark W. BeinkerNow in its fifth edition, Derivatives and Internal Models provides a comprehensive and thorough introduction to derivative pricing, risk management and portfolio optimization, covering all relevant topics with enough hands-on, depth of detail to enable readers to develop their own pricing and risk tools. The book provides insight into modern market risk quantification methods such as variance-covariance, historical simulation, Monte Carlo, hedge ratios, etc., including time series analysis and statistical concepts such as GARCH Models or Chi-Square-distributions. It shows how optimal trading decisions can be deduced once risk has been quantified by introducing risk-adjusted performance measures and a complete presentation of modern quantitative portfolio optimization. Furthermore, all the important modern derivatives and their pricing methods are presented; from basic discounted cash flow methods to Black-Scholes, binomial trees, differential equations, finite difference schemes, Monte Carlo methods, Martingales and Numeraires, terms structure models, etc. The fifth edition of this classic finance book has been comprehensively reviewed. New chapters/content cover multicurve bootstrapping, the valuation and hedging of credit default risk that is inherently incorporated in every derivative—both of which are direct and permanent consequences of the financial crises with a large impact on our understanding of modern derivative valuation. The book will be accompanied by downloadable Excel spread sheets, which demonstrate how the theoretical concepts explained in the book can be turned into valuable algorithms and applications and will serve as an excellent starting point for the reader’s own bespoke solutions for valuation and risk management systems.
Derivatives and the Wealth of Societies
by Benjamin Lee Randy MartinDerivatives were responsible for one of the worst financial meltdowns in history, one from which we have not yet fully recovered. However, they are likewise capable of generating some of the most incredible wealth we have ever seen. This book asks how we might ensure the latter while avoiding the former. Looking past the usual arguments for the regulation or abolition of derivative finance, it asks a more probing question: what kinds of social institutions and policies would we need to put in place to both avail ourselves of the derivative's wealth production and make sure that production benefits all of us? To answer that question, the contributors to this book draw upon their deep backgrounds in finance, social science, art, and the humanities to create a new way of understanding derivative finance that does justice to its social and cultural dimensions. They offer a two-pronged analysis. First, they develop a social understanding of the derivative that casts it in the light of anthropological concepts such as the gift, ritual, play, dividuality, and performativity. Second, they develop a derivative understanding of the social, using financial concepts such as risk, hedging, optionality, and arbitrage to uncover new dimensions of contemporary social reality. In doing so, they construct a necessary, renewed vision of derivative finance as a deeply embedded aspect not just of our economics but our culture.
Derivatives: A Guide to Alternative Investments
by David M. WeissA guide to understanding the complex derivatives market, by the acclaimed author of After the Trade is Made In today's highly charged and rapidly changing financial climate, derivatives are dominating global headlines. It is essential for financial professionals to have a strong grasp of the products, practices, and regulatory agencies associated with the complex derivatives market in order to keep up. In this book, financial expert David Weiss introduces readers to the basic concept of a derivative and offers a thorough examination of the many derivative products. Breaking down a complex market into its basic parts, he systematically explains the structure, usage, and value aspect of all the products constituting the derivatives universe, including: Credit Default Swaps (CDS) Asset-Backed Securities (ABS) Exchange-Traded Funds Currency Rates Swaps Options Futures Forwards For each of these types of derivatives, Weiss introduces the players in the market, outlines the mechanics of trading, and explains the role of regulation and oversight in the process. Written for portfolio managers, brokers, financial planners, and institutional investors, this book is an indispensable tool for today's investor and will leave readers better equipped to understand one of finance's most complex arenas.
Derivatives: Models on Models (The Wiley Finance Series)
by Espen Gaarder HaugDerivatives Models on Models takes a theoretical and practical look at some of the latest and most important ideas behind derivatives pricing models. In each chapter the author highlights the latest thinking and trends in the area. A wide range of topics are covered, including valuation methods on stocks paying discrete dividend, Asian options, American barrier options, Complex barrier options, reset options, and electricity derivatives. The book also discusses the latest ideas surrounding finance like the robustness of dynamic delta hedging, option hedging, negative probabilities and space-time finance. The accompanying CD-ROM with additional Excel sheets includes the mathematical models covered in the book. The book also includes interviews with some of the world’s top names in the industry, and an insight into the history behind some of the greatest discoveries in quantitative finance. Interviewees include: Clive Granger, Nobel Prize winner in Economics 2003, on Cointegration Nassim Taleb on Black Swans Stephen Ross on Arbitrage Pricing Theory Emanuel Derman the Wall Street Quant Edward Thorp on Gambling and Trading Peter Carr the Wall Street Wizard of Option Symmetry and Volatility Aaron Brown on Gambling, Poker and Trading David Bates on Crash and Jumps Andrei Khrennikov on Negative Probabilities Elie Ayache on Option Trading and Modeling Peter Jaeckel on Monte Carlo Simulation Alan Lewis on Stochastic Volatility and Jumps Paul Wilmott on Paul Wilmott Knut Aase on Catastrophes and Financial Economics Eduardo Schwartz the Yoga Master of Quantitative Finance Bruno Dupire on Local and Stochastic Volatility Models
Derivatives: Options and Futures (Springer Texts in Business and Economics)
by Joachim Häcker Dietmar ErnstThis textbook rethinks derivatives in a structured manner. This is done from the perspective of financial modeling, whereby the central issues from the financial economy are holistically mapped and resolved with the help of Microsoft Excel. The guideline of the book is an integrated case study, which is divided into two parts. The first part deals with the basics and the valuation of options and futures. In the second part, the individual option strategies are examined step by step in separate course units. The analysis ends – figuratively speaking – in a cockpit of sorts, where the reader controls the possible strategies in Excel. The book is aimed at students of business administration with a focus on finance.
Derivatives: Theory and Practice
by Keith Cuthbertson Dirk Nitzsche Niall O'SullivanThree experts provide an authoritative guide to the theory and practice of derivatives Derivatives: Theory and Practice and its companion website explore the practical uses of derivatives and offer a guide to the key results on pricing, hedging and speculation using derivative securities. The book links the theoretical and practical aspects of derivatives in one volume whilst keeping mathematics and statistics to a minimum. Throughout the book, the authors put the focus on explanations and applications. Designed as an engaging resource, the book contains commentaries that make serious points in a lighthearted manner. The authors examine the real world of derivatives finance and include discussions on a wide range of topics such as the use of derivatives by hedge funds and the application of strip and stack hedges by corporates, while providing an analysis of how risky the stock market can be for long-term investors, and more. To enhance learning, each chapter contains learning objectives, worked examples, details of relevant finance blogs technical appendices and exercises.
Derivatives: Theory and Practice of Trading, Valuation, and Risk Management (Springer Texts in Business and Economics)
by Jiří WitzanyThis book helps students, researchers and quantitative finance practitioners to understand both basic and advanced topics in the valuation and modeling of financial and commodity derivatives, their institutional framework and risk management. It provides an overview of the new regulatory requirements such as Basel III, the Fundamental Review of the Trading Book (FRTB), Interest Rate Risk of the Banking Book (IRRBB), or the Internal Capital Assessment Process (ICAAP). The reader will also find a detailed treatment of counterparty credit risk, stochastic volatility estimation methods such as MCMC and Particle Filters, and the concepts of model-free volatility, VIX index definition and the related volatility trading. The book can also be used as a teaching material for university derivatives and financial engineering courses.
DermaCare: Zapping Zits Directly
by Lauren Barley Richard G. HamermeshDermaCare has developed an innovative new product for the treatment of acne that they hope to sell to consumers via direct-response television. The unconventional nature of the product and its distribution has led the company to seek angel financing. The Silicon Valley Band of Angels has agreed to finance the company and has submitted a proposed term sheet. Recently, however, a venture capital (VC) group has submitted a competing term sheet. The company must decide whether to accept financing from the Angels or the VC group.
Derrida and Inheritance in Environmental Ethics: The Half-Lives of Responsibility
by Michael PetersonThis book argues for the necessity of a re-evaluation of our thinking about responsibly relating to future generations in the context of environmental philosophy. Using long-term nuclear waste disposal as its paradigmatic case, this book makes the case that the predominant mode of thinking the future in terms of continuity and repetition of the present requires a critique informed by French philosopher Jacques Derrida in order to think responsibility adequately. The book begins by surveying contemporary accounts of intergenerational responsibility before outlining the specifics of nuclear waste disposal policy. With these stakes established, the contributions of Jacques Derrida to future-oriented ethics are introduced. These include discussions of communication across contexts, the relationship between inheritance and responsibility, and the political imperatives that result from this critique. This book concludes by arguing for an intergenerational environmental policy that rejects policy and infrastructural projects that depend on the present reproducing itself indefinitely.
Des Canadiens à l'épreuve: Histoires d'échecs qui ont mené à la réussite
by Alex BenayAvec des chapitres rédigés par : Robert Thirsk, astronaute Erica Wiebe, championne de lutte olympique Tom Jenkins, président de la société OpenText et du Conseil national de recherches du Canada Andy Nulman, cofondateur du Festival Juste pour rire … ainsi que d’autres Canadiens au sommet de leur secteur d’activité. Que signifie « échouer »? Pour certains Canadiens ayant brillamment réussi, il s’agit d’un rite de passage, d’un tremplin vers de plus grandes réalisations, voire une belle source d’inspiration. Le parcours de ces Canadiens qui ont obtenu la médaille d’or olympique, bâti des entreprises florissantes, fait avancer la médecine est jalonné de faux pas, de nombreuses tentatives infructueuses et parfois d’échecs. Des Canadiens à l’épreuve réunit le récit de dix experts issus des secteurs privé, public, à but non lucratif et universitaire qui, tout au long de leur vie, ont vécu des échecs et lutté pour réussir. Dans cet ouvrage, ils font valoir l’argument de poids suivant : la clé de la réussite pour le Canada et les Canadiens réside dans les leçons tirées d’échecs.
Des Händlers Erstes Buch Über Commodities: ALLES, WAS SIE ÜBER FUTURES UND OPTIONEN WISSEN MÜSSEN (Financial Investments #3)
by Carley GarnerIn ihrem Bestreben, gewinnbringend mit Rohstoffen zu handeln, verbringen angehende Händler viel Zeit mit dem Studium der Markttheorie, verschiedenen Arten der Marktanalyse und dem Papierhandel an den Futures- und Optionsmärkten. Dennoch versäumen es fast alle von ihnen, die notwendigen Schritte zu unternehmen, um sicherzustellen, dass ihr Handelsumfeld für die angestrebten Gewinne förderlich ist. A Trader's First Book on Commodities soll die Lücke in der Handelsliteratur schließen, in der übersehen wird, wie wichtig es ist, die richtigen Entscheidungen zu treffen, bevor man überhaupt einen Rohstoffhandel platziert. Dazu gehören ein umfassendes Verständnis der Marktmechanik und -logistik, die Wahl einer geeigneten Handelsplattform, das Verständnis der Auftragsarten, die Kenntnis der Marktdatengebühren und -richtlinien, die Kursstellung und die Berechnung von Gewinn oder Verlust in jedem der Rohstoffmärkte, die Vorbereitung auf Nachschussforderungen und die einzige Magie im Handel - die Bescheidenheit. A Trader's First Book on Commodities verkürzt garantiert die Lernkurve für angehende Händler und bietet erfahrenen Händlern eine neue Perspektive auf vertraute Themen. Es gibt mehr als computergenerierte Oszillatoren und Trendlinien; die Wahl der falschen Handelsplattform, des falschen Brokers oder der falschen Orderart kann einem Handelskonto mehr Schaden zufügen als die Wahl des falschen technischen Indikators.
Des Teufels Wörterbuch der Finanzwelt: Von A wie AAA bis Z wie Zombie Fonds
by Jason Zweig Wolfgang WurbsDieses etwas andere Worterbuch dreht alle Plutokraten und Burokraten am Spie?, die verantwortlich sind fur explodierende Hypotheken, abgefahrene Risiken und Banken, die "too big to fail" sind. In diesem Buch vereinen sich die Komplexitaten, Absurditaten und Prahlereien der Wall Street. Es liefert unterhaltsame, leicht verstandliche Definitionen und Einblicke - scharfsinnig und spitz, wie der Stachel eines Skorpions. Es durchbricht das Dunkel und die Vortauschungen der Wall Street und bereitet Investoren einen klaren Pfad zwischen Euphorie und Verzweiflung. Von A wie AAA bis Z wie Zombie Fonds - ein unentbehrlicher Survival-Guide fur die feindliche Wildnis der Finanzmarkte. Dem finanziellen Purgatorium zu entkommen, war niemals so lustig.
Desalination and Water Security (Earthscan Studies in Water Resource Management)
by Chris AnastasiDesalination is to the water industry what renewables are to the electricity sector. However, unlike renewables, the former is being deployed in a quiet revolution away from public glare. This book provides a holistic view of desalination, highlighting the important role this technology can play in providing safe access to water across the globe. It describes the context for this technology to flourish in the coming decades. It discusses the pressures on freshwater resources and the key role the desalination industry plays as it moves from a good-to-have provider today to a must-have mainstream water solution in the future. The book explores the vital elements of the desalination industry, including the winning technologies and how further technological developments will reduce costs and increase deployment into new areas. It also addresses the energy used and the key environmental issues of carbon dioxide emissions and brine waste production. Using a series of country case studies, the book illustrates how desalination can supplement natural water resources in different environments and for different purposes, and how it is supporting domestic and economic activity. Providing a forward-thinking assessment, the book considers developments over the next 30 years as climate change impacts become even more apparent. This book will be of great interest to those working to alleviate water scarcity and improve water security. It will also be of interest to those in water resource management, water policy and regulation, water science, and environmental engineering.
Desarrolla una mentalidad ganadora: 60 citas para estimular tu mente
by Alix EzeEsta obra pretende ante todo ser divertida, informativa y motivadora. Como un compendio, este pequeño libro contiene citas de personas famosas y empresarios exitosos para ser leídas diariamente con el fin de mantenerse motivado y proactivo. El hecho de que se le consulte con la mayor frecuencia posible varias veces al día, te permite mantenerte centrado en tus objetivos y alimentar el pensamiento positivo. Consúltalo durante tus fases de pérdida de motivación para reanimarte y volver a ponerte en modo conquistador. La caja de herramientas al final del libro te ayudará a alcanzar tus objetivos y a planificar tus tareas.
Desarrolle el líder que está en usted
by John C. MaxwellExplore y mejore las destrezas de liderazgo dentro de usted.En este renovado éxito de librerías, John Maxwell examinalas diferencias entre los estilos de liderazgo y bosqueja los principios paramotivar e influir en los demás. Estos principios pueden usarse en cualquierorganización para fomentar la integridad y autodisciplina y producir un cambiopositivo.Desarrolle el líder que está en usted también permite que los lectores examinen cómo ser efectivos en sullamado supremo al liderazgo entendiendo las cinco características que separana los "gerentes líderes" de los "gerentes comunes y corrientes". En esta obra clásica, Maxwell muestra a loslectores cómo desarrollar la visión, los valores, la influencia y la motivaciónnecesarios para ser líderes exitosos.
Desarrolle el líder que está en usted
by John C. MaxwellExplore y mejore las destrezas de liderazgo dentro de usted.En este renovado éxito de librerías, John Maxwell examina las diferencias entre los estilos de liderazgo y bosqueja los principios para motivar e influir en los demás. Estos principios pueden usarse en cualquier organización para fomentar la integridad y autodisciplina y producir un cambio positivo.Desarrolle el líder que está en usted también permite que los lectores examinen cómo ser efectivos en su llamado supremo al liderazgo entendiendo las cinco características que separan a los "gerentes líderes" de los "gerentes comunes y corrientes". En esta obra clásica, Maxwell muestra a los lectores cómo desarrollar la visión, los valores, la influencia y la motivación necesarios para ser líderes exitosos.
Desarrolle el líder que está en usted 2.0
by John C. MaxwellEn esta edición de 25 aniversario revisada y actualizada, John C. Maxwell revela cómo desarrollar la visión, el valor, la influencia y la motivación necesarias para ser líderes exitosos.Hace veinticinco años, John Maxwell publicó el libro que transformó para siempre nuestra forma de pensar ver el liderazgo. Desarrolle el líder que está en usted revolucionó la manera en que se forman los líderes y en el proceso vendió más de un millón de ejemplares en inglés.Ahora, John Maxwell regresa a su obra clásica para incluir ideas de liderazgo y prácticas que ha aprendido en las décadas subsecuentes a la publicación original de su libro. Revisado y con dos capítulos totalmente nuevos, esta nueva edición actualiza los principios fundamentales para el liderazgo transformador que Maxwell ha empleado como líder por más de 40 años.No importa cual es tu entorno, familia, iglesia, empresa, organización sin fines de lucro, los principios que Maxwell comparte influirán positivamente en tu vida y la de quienes te rodean.
Desarrolle el líder que está en usted: Como Ayudar A Otros A Alcanzar Su Potencial Pleno
by John C. MaxwellExplore y mejore las destrezas de liderazgo dentro de usted.En este renovado éxito de librerías, John Maxwell examinalas diferencias entre los estilos de liderazgo y bosqueja los principios paramotivar e influir en los demás. Estos principios pueden usarse en cualquierorganización para fomentar la integridad y autodisciplina y producir un cambiopositivo. <P><P>Desarrolle el líder que está en usted también permite que los lectores examinen cómo ser efectivos en sullamado supremo al liderazgo entendiendo las cinco características que separana los "gerentes líderes" de los "gerentes comunes y corrientes". En esta obra clásica, Maxwell muestra a loslectores cómo desarrollar la visión, los valores, la influencia y la motivaciónnecesarios para ser líderes exitosos.