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Global Derivative Debacles: From Theory To Malpractice

Autor: Laurent L. Jacque

Jazyk:

Väzba: Pevná

Vydavateľ: World Scientific Publishing Co Pte Ltd

Dostupnosť: Skladom u dodávateľa

Odosielame za 9-15 dní

117.62 €

This book analyzes in depth all major derivatives debacles going back to Citibank's forex losses in...

Informácie o knihe

Autor

Laurent L. Jacque

Jazyk

Angličtina

Väzba

Kniha - Pevná

Vydalo

2010

Stránok

336

EAN

9789812837707

ISBN

9812837701

Enbook ID

05069423

Vydavateľ

World Scientific Publishing Co Pte Ltd

Hmotnosť

635

Rozmery

155 x 231 x 23

Kompletný popis

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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Global Derivative Debacles: From Theory To Malpractice

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