Market Risk Management for Hedge Funds: Foundations of the Style and Implicit Value-at-Risk (The Wiley Finance Series)

Product Details

This book provides a cutting edge introduction to market risk management for Hedge Funds, Hedge Funds of Funds, and the numerous new indices and clones launching coming to market on a near daily basis.  It will present the fundamentals of quantitative risk measures by analysing the  range of Value-at-Risk (VaR) models used today, addressing the robustness of each model, and looking at new risk measures available to more effectively manage risk in a hedge fund portfolio.
The book begins by analysing the current state of the hedge fund industry - at the ongoing institutionalisation of the market, and at its latest developments.  It then moves on to examine the range of risks, risk controls, and risk management strategies currently employed by practitioners, and focuses on particular risks embedded in the more classic investment strategies such as Long/Short, Convertible Arbitrage, Fixed Income Arbitrage, Short selling and risk arbitrage.  Addressed along side these are other risks common to hedge funds, including liquidity risk, leverage risk and counterparty risk.

The book then moves on to examine more closely two models which provide the underpinning for market risk management in investment today - Style Value-at-Risk and Implicit Value-at-Risk.  As well as full quantitative analysis and backtesting of each methodology, the authors go on to propose a new style model for style and implicit Var, complete with analysis, real life examples and backtesting.  The authors then go on to discuss annualisation issues and risk return before moving on to propose a new model based on the authors own Best Choice Implicit VaR approach, incorporating quantitative analysis, market results and backtesting and also its potential for new hedge fund clone products.

This book is the only guide to VaR for Hedge Funds and will prove to be an invaluable resource as we embark into an era of increasing volatility and uncertainty.

 

Customer Reviews ::

Recommend : >#@ Buy Best Sales Now

The CRB Commodity Yearbook 2010

Product Details

The essential commodity reference for analysts, traders, and portfolio managers

Commodities can play an important role in a portfolio. But in order to make the most of these investments, you need to have a solid understanding of what they offer. That's why you need The CRB Commodity Yearbook 2010.

The single most comprehensive source of commodity and futures market information available, the Yearbook is the book of record for the Commodity Research Bureau, which is, in turn, the organization of record for the commodity industry itself. Its sources-reports from governments, private industries, and trade and industrial associations-are authoritative, and its historical scope is second to none.

• Contains worldwide supply/demand and production/consumption data for all the basic commodities and futures markets-from A(luminum) to Z(inc), including all the major markets in interest rates, currencies, energy, and stock index futures
• Features over 900 tables, graphs, and price charts of historical data, many of which show price history dating back to 1900
• A fact-filled CD-ROM provides you with valuable commodity information in an easy-to-use electronic format

For its wealth of information and the authority of its sources, The CRB Commodity Yearbook 2010 stands alone as the guide to intelligent trading in commodities and futures.

Customer Reviews ::

Disappointed with CD - milan -
As mentioned by other reviewer, the CD does not work and there is no help available.

In this age, the least they could do was to give a solution asap to this problem or at least mention this issue while somebody is planning to buy this product

Related : >#@ Buy Best Sales Now

Banking Systems

Product Details

Get started on the fast track today. BANKING SYSTEMS 2E lets you explore the principles and practices of banking and credit in the United States through learning by doing and clear explanations. Whether it's financial services, human resources, marketing, or ethics, BANKING SYSTEMS 2E makes concepts easy to understand. Success tomorrow starts today with BANKING SYSTEMS 2E.

Customer Reviews ::

Related : >#@ Buy Best Sales Now

Plight of the Fortune Tellers: Why We Need to Manage Financial Risk Differently (New in Paper)

Product Details

Today's top financial professionals have come to rely on ever-more sophisticated mathematics in their attempts to come to grips with financial risk. But this excessive reliance on quantitative precision is misleading--and puts everyone at risk. In Plight of the Fortune Tellers, Riccardo Rebonato forcefully argues that we must restore genuine decision making to our financial planning. Presenting a financial model that uses probability, experimental psychology, and decision theory, Rebonato challenges us to rethink the standard wisdom about risk management. He offers a radical yet surprisingly commonsense solution: managing risk comes down to real people making decisions under uncertainty.

Plight of the Fortune Tellers is a must-read for anyone concerned about how today's financial markets are run. In a new preface, Rebonato explains how the ideas presented in this book fit into the context of the global financial crisis that followed its original publication. He argues that risk managers are still stuck in a probabilistic rut, and need to engage with the structural causes of real events.

Customer Reviews ::

Thanks To : >#@ Buy Best Sales Now

Handbook of Alternative Assets (Frank J. Fabozzi Series)

Product Details

Since the first edition of the Handbook of Alternative Assets was published, significant events-from the popping of the technology bubble and massive accounting scandals to recessions and bear markets-have shifted the financial landscape. These changes have provided author Mark J. P. Anson with an excellent opportunity to examine alternative assets during a different part of the economic cycle than previously observed in the first edition.

Fully revised and updated to reflect today's financial realities, the Handbook of Alternative Assets, Second Edition covers the five major classes of alternative assets-hedge funds, commodity and managed futures, private equity, credit derivatives, and corporate governance-and outlines the strategies you can use to efficiently incorporate these assets into any portfolio. Throughout the book, new chapters have been added, different data sources accessed, and new conclusions reached.

Designed as both an introduction to the world of alternative assets and as a reference for the active investor, the Handbook of Alternative Assets, Second Edition will help you match alternative assets with your various investment goals.

Customer Reviews ::

Practical and deep - Tom Davison - Columbus, OH USA
A pleasant surprise - this book is very readable, containing both wisdom and practical information. Has both big picture macro level thinking and specifics about asset classes.

Recommend : >#@ Buy Best Sales Now

Financial Accounting

Product Details

FINANCIAL ACCOUNTING, Tenth Edition, continues a distinguished tradition of combining academic needs with professional thought to prepare students for a dynamic business world. Through timely coverage, market-leading integration of real-world data, and trusted pedagogy, FINANCIAL ACCOUNTING, Tenth Edition, develops the judgment and critical-thinking skills students will need to succeed.

Customer Reviews ::

My Links : >#@ Buy Best Sales Now

Essentials of Financial Analysis

Product Details

• Processes and methods of financial statement analysis
• Framework for evaluating a company’s "quality of earnings"
• Identifies potential problem areas that need to be investigated
• Analytical tools and techniques to meet the objectives of different user groups

Essentials of Financial Analysis

Full of valuable tips, techniques, illustrative real-world examples, exhibits, and best practices, this handy and concise paperback will help you stay up to date on the newest thinking, strategies, developments, and technologies in financial analysis.

"Essentials of Financial Analysis is a concise guide with the necessary resource base for improved client selection by any professional whose practice is outside the field of financial analysis. I wish that Essentials of Financial Analysis had been available to me twenty-seven years ago when I formed an engineering firm. Its use is highly recommended."
–A. Ray Howland, PE, President, The Howland Company, Inc.

"Drs. Friedlob and Schleifer have provided an outstanding guide to analyzing financial statements. Their insights and analysis techniques will be useful to the financial community. They have provided analysts with a road map to financial enlightenment."
–E. Lewis Bryan, DBA, CPA, Visiting Professor of Accounting
Suffolk University, Boston, Massachusetts

Customer Reviews ::

Tags : >#@ Buy Best Sales Now

A Foreign Exchange Primer (Wiley Trading)

Product Details

This book will provide a thorough introduction to the foreign exchange markets, looking at the main products through to the techniques used, coverage of the main participants, details of the various players, and an understanding of the jargon used in everyday dealings. Written in a concise and accessible manner, it will be an ideal introduction for anyone looking to become involved in the FX markets, from dealing rooms or sales perspectives, to novice investors.

The new edition has been updated to reflect the changes that have taken place in the industry over the past few years. Most chapters have been enhanced and this new edition now features new material on the psychology of trading, the psychology of price movement and online trading.

Customer Reviews ::

Friends Link : >#@ Buy Best Sales Now

Case Problems In Finance

Product Details

The primary course for this book is the case course in Finance taught to all finance majors at both the MBA and undergraduate level. This is typically a capstone course at the undergraduate level and either the first or second course at the MBA level. Case Problems in Finance is a Harvard case course that presents real business situations that pose debatable alternative courses of action. The cases contain problems that can be narrowed but not always settled by the usual techniques of financial analysis. The cases are grouped by major topics: financial analysis and forecasting, cost of capital, working capital management, capital budgeting, dividend policy, debt policy, financial execution, and mergers and restructuring.

Customer Reviews ::

A definite MUST for MBA in Finance; but not for self-study - - Kuala Lumpur, Malaysia
This is definitely the book of classic cases in Finance. Using Harvard case method, it covers a wide range of fundamental issues faced by today's finance executive or CFO. A must for MBA second course in Finance or advanced undergraduate. However, this textbook is lacking in a few pedagogical aspects. Firstly, in every section (key topic), there is no comprehensive chapter of important theories and key concepts (e.g. formulas) for students to brush up before embarking on the cases. Moreover, there are no check figures or guidelines (at the back) on how to tackle the problems. The format of the pages are rather dry and uninviting plus there are so many typo erroes in the financial statements. More importantly in this 1997 edition, the authors have decided to leave out the Carrefour case, which was an excellent example of cash flow management. Lots of important lessons missed out, especially from a multinational which has been very successful in today's global retail hypermarket industry. Our professor had to make photocopies from an earlier edition for our MBA. May be the authors can put back this case in future editions.....

Recommend : >#@ Buy Best Sales Now

A History of the Theory of Investments: My Annotated Bibliography (Wiley Finance)

Product Details

"This exceptional book provides valuable insights into the evolution of financial economics from the perspective of a major player."
-- Robert Litzenberger, Hopkinson Professor Emeritus of Investment Banking, Univ. of Pennsylvania; and retired partner, Goldman Sachs

A History of the Theory of Investments is about ideas -- where they come from, how they evolve, and why they are instrumental in preparing the future for new ideas. Author Mark Rubinstein writes history by rewriting history. In unearthing long-forgotten books and journals, he corrects past oversights to assign credit where credit is due and assembles a remarkable history that is unquestionable in its accuracy and unprecedented in its power.

Exploring key turning points in the development of investment theory, through the critical prism of award-winning investment theory and asset pricing expert Mark Rubinstein, this groundbreaking resource follows the chronological development of investment theory over centuries, exploring the inner workings of great theoretical breakthroughs while pointing out contributions made by often unsung contributors to some of investment's most influential ideas and models.

Customer Reviews ::

Best history available - Patrick L. Anderson - Michigan USA
Business, Economics, and Finance with Matlab, GIS, and Simulation Models

This is the most comprehensive, best researched history of thought in financial economics. It may add two dozen references to my forthcoming book on business valuation; it would have shortened the time I spent researching my book Business Economics and Finance.

I agree with Rubenstein that too many authors blindly put down a recent book they read as an authority, and are ignorant of the real sources. If you are writing a scholarly article on financial economics or investment research, you have no excuse for that after Rubenstein's book.

The only quibble I have is the idiosyncratic nature of the history, which Rubenstein freely acknowledges in the preface. This is really a quibble, though; I find Rubenstein to be pretty fair in looking at past sources. Very knowledgeable readers may differ from time to time with Rubenstein's chronology, as very knowledgeable readers do with all history.

Excellent book.

Thanks To : >#@ Buy Best Sales Now

Optimizing Optimization: The Next Generation of Optimization Applications and Theory (Quantitative Finance)

Product Details

Editor Stephen Satchell brings us a book that truly lives up to its title: optimizing optimization by taking the lessons learned about the failures of portfolio optimization from the credit crisis and collecting them into one book, providing a variety of perspectives from the leaders in both industry and academia on how to solve these problems both in theory and in practice. Industry leaders are invited to present chapters that explain how their new breed of optimization software addresses the faults of previous versions. Software vendors present their best of breed optimization software, demonstrating how it addresses the faults of the credit crisis. Cutting-edge academic articles complement the commercial applications to provide a well-rounded insight into the current landscape of portfolio optimization.

Optimization is the holy grail of portfolio management, creating a portfolio in which return is highest in light of the risk the client is willing to take. Portfolio optimization has been done by computer modeling for over a decade, and several leading software companies make a great deal of money by selling optimizers to investment houses and hedge funds. Hedge funds in particular were enamored of heavily computational optimizing software, and many have been burned when this software did not perform as, er, expected during the market meltdown.

The software providers are currently reworking their software to address any shortcomings that became apparent during the meltdown, and are eager for a forum to address their market and have the space to describe in detail how their new breed of software can manage not only the meltdown problems but also perform faster and better than ever before-that is, optimizing the optimizers!!

In addition, there is a strong line of serious well respected research on portfolio optimization coming from the academic side of the finance world. Many different academic approaches have appeared toward optimization: some favor stochastic methods, others numerical methods, others heuristic methods. All focus on the same issues of optimizing performance at risk levels.

This book will provide the forum that the software vendors are looking for to showcase their new breed of software. It will also provide a forum for the academics to showcase their latest research. It will be a must-read book for portfolio managers who need to know whether their current optimization software provider is up to snuff compared to the competition, whether they need to move to a competitor product, whether they need to be more aware of the cutting-edge academic research as well.

• Presents a unique "confrontation" between software engineers and academics

• Highlights a global view of common optimization issues








• Emphasizes the research and market challenges of optimization software while avoiding sales pitches








• Accentuates real applications, not laboratory results

Customer Reviews ::

Tags : >#@ Buy Best Sales Now

Financial Accounting: The Impact on Decision Makers (with 2009 IFRS Update)

Product Details

Porter and Norton's real-world approach in FINANCIAL ACCOUNTING: THE IMPACT ON DECISION MAKERS, Sixth Edition, gives you an up-close perspective on how accounting truly affects businesses today. You will explore an appropriate "focus company" with each chapter, applying accounting principles in the context of that company's specific financial information and business strategy, giving you the real-world experience with financial data you need to succeed in business. Further, Porter and Norton's student-friendly, step-by-step decision framework guides you through a 6-step process on how to effectively use financial information early in the course, laying a stronger foundation for the more complex concepts to follow. FINANCIAL ACCOUNTING: THE IMPACT ON DECISION MAKERS, Sixth Edition, goes beyond typical texts that drill students on the numbers and procedures to address additional important issues, such as ethical dilemmas in business decisions and alternate terms you may encounter in the business world.

Customer Reviews ::

Visit : >#@ Buy Best Sales Now

Stochastic Calculus for Finance II: Continuous-Time Models (Springer Finance) (v. 2)

Product Details

Stochastic Calculus for Finance evolved from the first ten years of the Carnegie Mellon Professional Master's program in Computational Finance. The content of this book has been used successfully with students whose mathematics background consists of calculus and calculus-based probability. The text gives both precise statements of results, plausibility arguments, and even some proofs, but more importantly intuitive explanations developed and refine through classroom experience with this material are provided. The book includes a self-contained treatment of the probability theory needed for stochastic calculus, including Brownian motion and its properties. Advanced topics include foreign exchange models, forward measures, and jump-diffusion processes.

This book is being published in two volumes. This second volume develops stochastic calculus, martingales, risk-neutral pricing, exotic options and term structure models, all in continuous time.

Master's level students and researchers in mathematical finance and financial engineering will find this book useful.

Customer Reviews ::

Simply the best for non-math-PhD people - Jiujiu -
Clear and illustrative.
Certainly can satisfy your eager to do math stuff as long as you are not a well trained professional mathematics PhD.

See Also : >#@ Buy Best Sales Now

Betrayal: The Life and Lies of Bernie Madoff

Product Details

This is the story of the greatest con in financial history-it has commanded the attention of the entire world from the day the news broke on December 11, 2008, and continues to do so! Virtually every day there is another story about Madoff, his victims, his enablers, the world-wide financial institutions that have been crippled by his ponzi scheme. People who should have known better, didn′t-because of greed and complacency.

There are thousands of victims who range from the bold-faced names-Steven Spielberg, Jeff Katzenberg, Mort Zuckerman, Kevin Bacon, Elie Wiesel-titans of business, two of whom committed suicide-to people like us who were left nest eggs by parents and spouses and have seen their money disappear in a smoke and mirrors debacle. Then there are the stories behind his "enablers" who gambled with billions entrusted to them by their clients-without doing any due diligence. And of course the religious institutions who lost their entire endowments because of their naïve trust in this con man. The Enron machinations pale beside the havoc that Madoff has wrecked around the world! And then there is the SEC-asleep at the wheel. There is enough drama and mystery here to fill a dozen books.

Despite all the articles that dissect every aspect of the case, there are four basic questions that keep being asked:

1. Who is this guy, Bernie Madoff? Evil? A sociopath? Genius? WHAT WAS HE THINKING?

2. Who was in on it with him? His sons? Wife? Brother? Nieces and nephews?

3. How did he do it? Was it a complex process or was it a simple ponzi scheme like others differing only in magnitude?

4. WHERE IS THE MONEY?

Andrew Kirtzman′s analysis of the man and the deed is filled with solid research and suspensful storytelling-he has established himself as THE expert on the Madoff case, appearing on WCBS, Fox News, CNN, and in numerous print medias.

• ISBN13: 9780061870767
• Condition: New
• Notes: BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare our books, prices and service to the competition. 100% Satisfaction Guaranteed

Customer Reviews ::

My First Madoff Book - It Is A Page-Turner - G. Reid -
A Library Copy. This is a fascinating case. There are so many questions. This book answers some of the questions, but leaves many questions unanswered so that I will be reading other Madoff books. I understand Ponzi schemes and how they can get started. However, the giant mystery here is the length of the fraud - how it could go on for so long. Hopefully, some of the other books will answer that question. A big question is how many persons knew or should have known about the Ponzi scheme. I think the number is bigger than most people think. All of these people, however large the number, did not stop the scheme as many were apparently paralyzed by greed.

Thanks To : >#@ Buy Best Sales Now

Finance in a Nutshell: A no-nonsense companion to the tools and techniques of finance

Product Details

No other book is a comprehensive toolkit of financial issues, instructive, and so easy to read, all at the same time – this is an easy-to-read guide to the hard-to-understand stuff of business finance.

•  The author regularly gives talks, seminars, and courses for executives and is very aware of their lack of understanding (or their inability to remember) simple but key financial concepts and tools. He is continually asked to recommend a simple book that helps them to refresh key financial concepts and tools. 
• Self-contained: Other than some elementary algebra, no other previous knowledge will be necessary to understand the concepts discussed.
• Comprehensive: It will contain most or all topics, concepts, and tools that executives can easily forget, find hard to understand, and/or would like to know more about.
• Simple and easy to read: Many well-educated executives have all but forgotten their finance and are regularly put off by books that are far more academic than they need. This book will be written in a simple and conversational style.
• Concise with short chapters throughout: This is critical as many executives are put off by long books or never ending chapters.
• Essential elementary theory and many real-world examples. All concepts and tools will be illustrated with catchy and factual examples.
• Excel: Spreadsheets have become an inseparable part of working in Finance and this book will show readers how to use Excel to simplify their work.
• Test Yourself: problems with worked numerical solutions throughout.

Customer Reviews ::

This book: An Unplugged Version of Finances - Juan C. Patiño Peralta - Cidra, PR Puerto Rico
I hope that any of my finance professors find and read this review at least until I finish my MBA. :) Why? Well because this book fills a lot of gaps that most finance books or finance professors never fill. Finance can be a scary subject but with this book is like discovering the myth behind the terrible Wizard of OZ. Remember the movie?

This author really knows how to transform the most complex subject into a pleasurable walk in the park. This book is a perfect complement for your "academic" textbook. When the "academic" textbook fails to clear out the jargon, this book disentangles the mess made up by the "academic tone". If you are studying a BBA or an MBA in Finances this book fits perfectly beside the large and boring class "tome". With this book you will really learn about finances. Sorry Profs...

My Links : >#@ Buy Best Sales Now

International Macroeconomics and Finance: Theory and Econometric Methods

Product Details

This short, concrete, and to-the-point book guides students through this vast field of conflicting opinions. The book begins from the premise that students benefit most from seeing a balanced treatment of all available views. For instance, this book provides coverage of both ad hoc and optimizing models. It also explores divisions such as flexible price versus sticky price models, rationality versus irrationality, and calibration versus statistical inference. By giving consideration to each of these 'mini debates;, this book shows how each approach has its good and bad points.

Customer Reviews ::

Visit : >#@ Buy Best Sales Now

Risk Management in Banking

Product Details

Never before has risk management been so important.

Now in its third edition, this seminal work by Joël Bessis has been comprehensively revised and updated to take into account the changing face of risk management.

Fully restructured, featuring new material and discussions on new financial products, derivatives, Basel II, credit models based on time intensity models, implementing risk systems and intensity models of default, it also includes a section on subprime that discusses the crisis mechanisms and makes numerous references throughout to the recent stressed financial conditions. The book postulates that risk management practices and techniques remain of major importance, if implemented in a sound economic way with proper governance.

Risk Management in Banking, Third Edition considers all aspects of risk management emphasizing the need to understand conceptual and implementation issues of risk management and examining the latest techniques and practical issues, including:

• Asset-Liability Management
• Risk regulations and accounting standards
• Market risk models
• Credit risk models
• Dependencies modeling
• Credit portfolio models
• Capital Allocation
• Risk-adjusted performance
• Credit portfolio management

Building on the considerable success of this classic work, the third edition is an indispensable text for MBA students, practitioners in banking and financial services, bank regulators and auditors alike.

ISBN 978-0-470-01912-2 [insert Wiley logo and ISBN barcode]

Customer Reviews ::

Tags : >#@ Buy Best Sales Now