Identify and understand the risks facing your portfolio, how to quantify them, and the best tools to hedge them This book scrutinizes the various risks confronting a portfolio, equips the reader with the tools necessary to identify and understand these risks, and discusses the best ways to hedge them.The book does not require a specialized mathematical foundation, and so will appeal to both the ge...
Hardcover: 295 pages
Publisher: Wiley; 1 edition (August 2, 2011)
Product Dimensions: 6.3 x 1.2 x 9.3 inches
Amazon Rank: 1787931
Format: PDF ePub fb2 djvu ebook
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When I started reading this book I was surprised that I actually was able to read past the first chapter without meandering into complete theoretical areas that as a professional in the area of risk I don't see a great deal everyday.The fact that a l...
d specialist alike. For the generalist, who may not have a deep knowledge of mathematics, the book illustrates, through the copious use of examples, how to identify risks that can sometimes be hidden, and provides practical examples of quantifying and hedging exposures. For the specialist, the authors provide a detailed discussion of the mathematical foundations of risk management, and draw on their experience of hedging complex multi-asset class portfolios, providing practical advice and insights.Provides a clear description of the risks faced by managers with equity, fixed income, commodity, credit and foreign exchange exposuresElaborates methods of quantifying these risksDiscusses the various tools available for hedging, and how to choose optimal hedging instrumentsIlluminates hidden risks such as counterparty, operational, human behavior and model risks, and expounds the importance and instability of model assumptions, such as market correlations, and their attendant dangersExplains in clear yet effective terms the language of quantitative finance and enables a non-quantitative investment professional to communicate effectively with professional risk managers, "quants", clients and othersProviding thorough coverage of asset modeling, hedging principles, hedging instruments, and practical portfolio management, Hedging Market Exposures helps portfolio managers, bankers, transactors and finance and accounting executives understand the risks their business faces and the ways to quantify and control them.