Hedging

Author : Nassim Nicholas Taleb
Publisher : John Wiley & Sons
Page : 536 pages
File Size : 41,8 Mb
Release : 1997-01-14
Category : Business & Economics
ISBN : 0471152803

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Dynamic Hedging by Nassim Nicholas Taleb Pdf

Destined to become a market classic, Dynamic Hedging is the only practical reference in exotic options hedgingand arbitrage for professional traders and money managers Watch the professionals. From central banks to brokerages to multinationals, institutional investors are flocking to a new generation of exotic and complex options contracts and derivatives. But the promise of ever larger profits also creates the potential for catastrophic trading losses. Now more than ever, the key to trading derivatives lies in implementing preventive risk management techniques that plan for and avoid these appalling downturns. Unlike other books that offer risk management for corporate treasurers, Dynamic Hedging targets the real-world needs of professional traders and money managers. Written by a leading options trader and derivatives risk advisor to global banks and exchanges, this book provides a practical, real-world methodology for monitoring and managing all the risks associated with portfolio management. Nassim Nicholas Taleb is the founder of Empirica Capital LLC, a hedge fund operator, and a fellow at the Courant Institute of Mathematical Sciences of New York University. He has held a variety of senior derivative trading positions in New York and London and worked as an independent floor trader in Chicago. Dr. Taleb was inducted in February 2001 in the Derivatives Strategy Hall of Fame. He received an MBA from the Wharton School and a Ph.D. from University Paris-Dauphine.

Author : Joseph D. Koziol
Publisher : Unknown
Page : 456 pages
File Size : 45,5 Mb
Release : 1990-02-19
Category : Business & Economics
ISBN : UOM:49015001101162

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Hedging by Joseph D. Koziol Pdf

Describes both financial and physical hedging strategies and programs applicable to almost any industry. Shows how to use hedging strategies to capitalize on market volatility, while minimizing the effects of unfavorable market swings. Addresses theories of hedging and cross-hedging, cash-and-carry or ``repo'' programs, the ``perfect hedge,'' and the hedging paradox and also offers comparative approaches supported by examples.

Author : Slobodan Jovanovic
Publisher : Harriman House Limited
Page : 454 pages
File Size : 51,7 Mb
Release : 2014-02-03
Category : Business & Economics
ISBN : 9780857193292

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Hedging Commodities by Slobodan Jovanovic Pdf

This book is an invaluable resource of hedging case studies and examples, explaining with clarity and coherence how various instruments - such as futures and options - are used in different market scenarios to contain, control and eliminate price risk exposure. Its core objective is to elucidate hedging transactions and provide a systematic, comprehensive view on hedge performance. When it comes to hedge strategies specifically, great effort has been employed to create new instruments and concepts that will prove to be superior to classic methods and interpretations. The concept of hedge patterns - introduced here - proves it is possible to tabulate a hedging strategy and interpret its use with diagrams, so each example is shown visually with the result of radical clarity. A compelling visual pattern is also attached to each case study to give you the ability to compare different solutions and apply a best-fit hedging strategy in real-world situations. A diverse range of hedging transactions showing the ultimate payoff profiles and performance metrics are included. These have been designed to achieve the ultimate goal - to convey the necessary skills to allow business and risk management teams to develop proper hedging mechanisms and apply them in practice.

Author : Bruno Bouchard,Jean-François Chassagneux
Publisher : Springer
Page : 280 pages
File Size : 49,9 Mb
Release : 2016-06-23
Category : Mathematics
ISBN : 9783319389905

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Fundamentals and Advanced Techniques in Derivatives Hedging by Bruno Bouchard,Jean-François Chassagneux Pdf

This book covers the theory of derivatives pricing and hedging as well as techniques used in mathematical finance. The authors use a top-down approach, starting with fundamentals before moving to applications, and present theoretical developments alongside various exercises, providing many examples of practical interest.A large spectrum of concepts and mathematical tools that are usually found in separate monographs are presented here. In addition to the no-arbitrage theory in full generality, this book also explores models and practical hedging and pricing issues. Fundamentals and Advanced Techniques in Derivatives Hedging further introduces advanced methods in probability and analysis, including Malliavin calculus and the theory of viscosity solutions, as well as the recent theory of stochastic targets and its use in risk management, making it the first textbook covering this topic. Graduate students in applied mathematics with an understanding of probability theory and stochastic calculus will find this book useful to gain a deeper understanding of fundamental concepts and methods in mathematical finance.

Author : Ken Hyland
Publisher : John Benjamins Publishing
Page : 319 pages
File Size : 55,5 Mb
Release : 1998-03-15
Category : Language Arts & Disciplines
ISBN : 9789027282583

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Hedging in Scientific Research Articles by Ken Hyland Pdf

This book provides a comprehensive study of hedging in academic research papers, relating a systematic analysis of forms to a pragmatic explanation for their use. Based on a detailed examination of journal articles and interviews with research scientists, the study shows that the extensive use of possibility and tentativeness in research writing is intimately connected to the social and institutional practices of academic communities and is at the heart of how knowledge comes to be socially accredited through texts. The study identifies the major forms, functions and distribution of hedges and explores the research article genre in detail to present an explanatory framework based on a complex social and ideological interpretive environment. The results show that hedging is central to Scientific argument, individual scientists and, ultimately, to science itself. The importance of hedging to student writers is also recognised and a chapter devoted to teaching implications.

Author : Simo M. Dafir,Vishnu N. Gajjala
Publisher : John Wiley & Sons
Page : 312 pages
File Size : 55,6 Mb
Release : 2016-03-11
Category : Business & Economics
ISBN : 9781119026730

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Fuel Hedging and Risk Management by Simo M. Dafir,Vishnu N. Gajjala Pdf

A hands-on guide to navigating the new fuel markets Fuel Hedging and Risk Management: Strategies for Airlines, Shippers and Other Consumers provides a clear and practical understanding of commodity price dynamics, key fuel hedging techniques, and risk management strategies for the corporate fuel consumer. It covers the commodity markets and derivative instruments in a manner accessible to corporate treasurers, financial officers, risk managers, commodity traders, structurers, as well as quantitative professionals dealing in the energy markets. The book includes a wide variety of key topics related to commodities and derivatives markets, financial risk analysis of commodity consumers, hedge program design and implementation, vanilla derivatives and exotic hedging products. The book is unique in providing intuitive guidance on understanding the dynamics of forward curves and volatility term structure for commodities, fuel derivatives valuation and counterparty risk concepts such as CVA, DVA and FVA. Fully up-to-date and relevant, this book includes comprehensive case studies that illustrate the hedging process from conception to execution and monitoring of hedges in diverse situations. This practical guide will help the reader: Gain expert insight into all aspects of fuel hedging, price and volatility drivers and dynamics. Develop a framework for financial risk analysis and hedge programs. Navigate volatile energy markets by employing effective risk management techniques. Manage unwanted risks associated with commodity derivatives by understanding liquidity and credit risk calculations, exposure optimization techniques, credit charges such as CVA, DVA, FVA, etc.

Author : Gunther Kaltenböck,Wiltrud Mihatsch,Stefan Schneider
Publisher : BRILL
Page : 324 pages
File Size : 47,7 Mb
Release : 2012-11-02
Category : Language Arts & Disciplines
ISBN : 9789004253247

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New Approaches to Hedging by Gunther Kaltenböck,Wiltrud Mihatsch,Stefan Schneider Pdf

Hedging is an essential part of everyday communication. It is a discourse strategy which is used to reduce commitment to the force or truth of an utterance to achieve an appropriate pragmatic effect. This title provides an overview of research on the topic by bringing together studies from a variety of fields.

Author : Raija Markkanen,Hartmut Schröder
Publisher : Walter de Gruyter
Page : 293 pages
File Size : 50,9 Mb
Release : 2010-10-06
Category : Language Arts & Disciplines
ISBN : 9783110807332

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Hedging and Discourse by Raija Markkanen,Hartmut Schröder Pdf

Author : Thorsten Rheinlander,Jenny Sexton
Publisher : World Scientific
Page : 244 pages
File Size : 43,8 Mb
Release : 2011
Category : Business & Economics
ISBN : 9789814338806

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Hedging Derivatives by Thorsten Rheinlander,Jenny Sexton Pdf

Valuation and hedging of financial derivatives are intrinsically linked concepts. Choosing appropriate hedging techniques depends on both the type of derivative and assumptions placed on the underlying stochastic process. This volume provides a systematic treatment of hedging in incomplete markets. Mean-variance hedging under the risk-neutral measure is applied in the framework of exponential L(r)vy processes and for derivatives written on defaultable assets. It is discussed how to complete markets based upon stochastic volatility models via trading in both stocks and vanilla options. Exponential utility indifference pricing is explored via a duality with entropy minimization. Backward stochastic differential equations offer an alternative approach and are moreover applied to study markets with trading constraints including basis risk. A range of optimal martingale measures are discussed including the entropy, Esscher and minimal martingale measures. Quasi-symmetry properties of stochastic processes are deployed in the semi-static hedging of barrier options. This book is directed towards both graduate students and researchers in mathematical finance, and will also provide an orientation to applied mathematicians, financial economists and practitioners wishing to explore recent progress in this field."

Author : Chris Hedges
Publisher : PublicAffairs
Page : 224 pages
File Size : 54,7 Mb
Release : 2014-04-08
Category : History
ISBN : 9781610395106

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War Is a Force that Gives Us Meaning by Chris Hedges Pdf

As a veteran war correspondent, Chris Hedges has survived ambushes in Central America, imprisonment in Sudan, and a beating by Saudi military police. He has seen children murdered for sport in Gaza and petty thugs elevated into war heroes in the Balkans. Hedges, who is also a former divinity student, has seen war at its worst and knows too well that to those who pass through it, war can be exhilarating and even addictive: “It gives us purpose, meaning, a reason for living.” Drawing on his own experience and on the literature of combat from Homer to Michael Herr, Hedges shows how war seduces not just those on the front lines but entire societies—corrupting politics, destroying culture, and perverting basic human desires. Mixing hard-nosed realism with profound moral and philosophical insight, War Is a Force that Gives Us Meaning is a work of terrible power and redemptive clarity whose truths have never been more necessary.

Author : A. Rashad Abdel-Khalik
Publisher : Routledge
Page : 592 pages
File Size : 54,5 Mb
Release : 2013-10-08
Category : Business & Economics
ISBN : 9781136489297

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Accounting for Risk, Hedging and Complex Contracts by A. Rashad Abdel-Khalik Pdf

With the exponential growth in financial derivatives, accounting standards setters have had to keep pace and devise new ways of accounting for transactions involving these instruments, especially hedging activities. Accounting for Risk, Hedging and Complex Contracts addresses the essential elements of these developments, exploring accounting as related to today's most relevant topics - risk, hedging, insurance, reinsurance, and more. The book begins by providing a basic foundation by discussing the concepts of risk, risk types and measurement, and risk management. It then introduces readers to the nature and valuation of free standing options, swaps, forward and futures as well as of embedded derivatives. Discussion and illustrations of the cash flow hedge and fair value hedge accounting treatments are offered in both single currency and multiple currency environments, including hedging net investment in foreign operations. The final chapter is devoted to the disclosure of financial instruments and hedging activities. The combination of these topics makes the book a must-have resource and reference in the field. With discussions of the basic tools and instruments, examinations of the related accounting, and case studies to help students apply their knowledge, this book is an essential, self-contained source for upper-level undergraduate and masters accounting students looking develop an understanding of accounting for today’s financial realities.

Author : Chris Hedges
Publisher : Knopf Canada
Page : 320 pages
File Size : 42,8 Mb
Release : 2018-08-21
Category : History
ISBN : 9780735275966

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America, The Farewell Tour by Chris Hedges Pdf

If you thought you knew Chris Hedges--be surprised. The globally renowned Pulitzer Prize-winner gives us an entirely new view of a nation in crisis in a stunning book that holds both liberals and conservatives to account--as rousingly pertinent for Canada as for the disoriented US. Beautifully written, it clarifies vividly and unforgettably the forces at play in our times. In astonishing, tough, first-hand reportage, Chris Hedges draws on stories from inside communities across America and reveals how the hurricanes of change have allowed an array of pathologies to arise: the opioid crisis, the retreat into gambling, the corporate coup d'état of government, the pornification of culture, the rise of magical thinking, the emboldening of violence and hate, the plagues of suicides, and the global upheaval caused by catastrophic climate change. These are just some of the physical manifestations of a society unravelling. Such ills presage a frightening reconfiguration of our lives--particularly in the face of our neighbour's degeneration as a world power. Donald Trump rode this disenchantment to power. Hedges--who was unsurprised by Trump's victory--shows how neither the left nor the right are addressing the systemic problems. Until the corporate coup d'état is reversed, these diseases will grow and ravage the country. A humane cry for a decent future, this remarkable book is our wake-up call to reality.

Author : Joseph Martin Mehl
Publisher : Unknown
Page : 114 pages
File Size : 44,5 Mb
Release : 1931
Category : Grain trade
ISBN : UIUC:30112019268546

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Hedging in Grain Futures by Joseph Martin Mehl Pdf

Author : Patrick Boyle,Jesse McDougall
Publisher : Walter de Gruyter GmbH & Co KG
Page : 298 pages
File Size : 44,7 Mb
Release : 2018-12-17
Category : Business & Economics
ISBN : 9781547401215

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Trading and Pricing Financial Derivatives by Patrick Boyle,Jesse McDougall Pdf

Trading and Pricing Financial Derivatives is an introduction to the world of futures, options, and swaps. Investors who are interested in deepening their knowledge of derivatives of all kinds will find this book to be an invaluable resource. The book is also useful in a very applied course on derivative trading. The authors delve into the history of options pricing; simple strategies of options trading; binomial tree valuation; Black-Scholes option valuation; option sensitivities; risk management and interest rate swaps in this immensely informative yet easy to comprehend work. Using their vast working experience in the financial markets at international investment banks and hedge funds since the late 1990s and teaching derivatives and investment courses at the Master's level, Patrick Boyle and Jesse McDougall put forth their knowledge and expertise in clearly explained concepts. This book does not presuppose advanced mathematical knowledge, though it is presented for completeness for those that may benefit from it, and is designed for a general audience, suitable for beginners through to those with intermediate knowledge of the subject.

Author : Katrina Avila Munichiello
Publisher : Tuttle Publishing
Page : 256 pages
File Size : 50,6 Mb
Release : 2017-03-21
Category : Literary Collections
ISBN : 0804848998

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A Tea Reader by Katrina Avila Munichiello Pdf

A Tea Reader contains a selection of stories that cover the spectrum of life. This anthology shares the ways that tea has changed lives through personal, intimate stories. Read of deep family moments, conquered heartbreak, and peace found in the face of loss. A Tea Reader includes stories from all types of tea people: people brought up in the tea tradition, those newly discovering it, classic writings from long-ago tea lovers and those making tea a career. Together these tales create a new image of a tea drinker. They show that tea is not simply something you drink, but it also provides quiet moments for making important decisions, a catalyst for conversation, and the energy we sometimes need to operate in our lives. The stories found in A Tea Reader cover the spectrum of life, such as the development of new friendships, beginning new careers, taking dream journeys, and essentially sharing the deep moments of life with friends and families. Whether you are a tea lover or not, here you will discover stories that speak to you and inspire you. Sit down, grab a cup, and read on.