Książka Global Derivative Debacles: From Theory To Malpractice Laurent L. Jacque

Global Derivative Debacles: From Theory To Malpractice

Język: Angielski
Oprawa: Twarda
Dostępność: Dostępna u dostawcy
Wysyłamy za 9-15 dni
522.24
This book analyzes in depth all major derivatives debacles going back to Citibank's forex losses in...

Informacje o książce

Język
Angielski
Oprawa
Książka - Twarda
Data wydania
2010
strony
336
EAN
9789812837707
ISBN
9812837701
Enbook ID
05069423
Waga
635
Wymiary
155 x 231 x 23

Pełny opis

This book analyzes in depth all major derivatives debacles going back to Citibank's forex losses in its Belgian branch in 1964, to Amaranth's $5.4 billion loss on gas futures in 2006 and Societe Generale's loss of $7.8 billion in early 2008. Contrary to widespread belief, derivatives products are welfare-enhancing from a macroeconomic point of view. Unfortunately, financial innovations are used and abused by financial institutions and corporations when control systems are not properly designed. The proliferation of financial derivatives does not increase systemic risk but allows players in speculative markets to optimize their risk-return profile in line with their strategic goals and comparative advantages in the marketplace.Regulation is not necessarily called for; instead, proper guidelines for the use and monitoring of derivatives by firms should be established and enforced. The book groups cases by derivatives category, starting with the simplest and building up to the most complex - namely, Forwards, Futures, Swaps and Options, in that order, with applications in commodities, foreign exchange, stock indices and interest rates. Each chapter deals with one derivatives debacle, providing a rigorous and comprehensive but non-technical elucidation of what had happened.

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