Managing derivative risks : the use and abuse of leverage

By:

Chew, Lillian

Material type: Text

TextPublication details: 1996 John Wiley & Sons ChichesterDescription: xviii, 313p. 24 cm ; Hard BoundISBN:

0471956228

Subject(s):

DDC classification:

332.645 CHE

Contents:

1. Derivatives The Beauty 2. Derivatives The Beast 3. Beauty v The Beast 4. Spot Risks 5. Forward Risks 6. Option Risks: Curvature and Time Decay 7. Option Risks: Volatility and Prepayment 8. Unbundling Structures 9. Just One Number 10. Not Just One Man

Summary: Managing Derivative Risks The Use and Abuse of Leverage Lillian Chew When Barings, the oldest merchant bank in the United Kingdom, collapsed it joined the long list of financial disasters that have involved derivatives. Procter & Gamble, Metallgesellschaft and Orange County have all fallen famously foul of these instruments. But are they really so dangerous? Promoters of derivatives rightly argue that they provide a service, helping to manage risk in increasingly volatile markets. Where large losses have occurred, it is because derivatives have been misused through greed, a lack of understanding of their risks and the failure of management to control properly those who deal in them, or all three. This book cuts through the hysteria and hype and explains in non-technical terms the unique risks of derivatives. These risks are discussed using actual examples, particularly the high-profile cases of the early 1990s. Managing Derivative Risks also discusses topical issues such as Value at Risk and the latest Bank for International Settlements’ capital requirements for market risk. It will prove a valuable source of information for finance directors, treasurers, institutional investors, fund managers, bankers, regulators, and anyone who sits on a corporate board.

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Holdings
Item type	Current library	Collection	Call number	Status	Date due	Barcode
Books	H.T. Parekh Library	GSB Collection	332.645 CHE (Browse shelf(Opens below))	Available		20247

1. Derivatives The Beauty
2. Derivatives The Beast
3. Beauty v The Beast
4. Spot Risks
5. Forward Risks
6. Option Risks: Curvature and Time Decay
7. Option Risks: Volatility and Prepayment
8. Unbundling Structures
9. Just One Number
10. Not Just One Man

Managing Derivative Risks The Use and Abuse of Leverage Lillian Chew When Barings, the oldest merchant bank in the United Kingdom, collapsed it joined the long list of financial disasters that have involved derivatives. Procter & Gamble, Metallgesellschaft and Orange County have all fallen famously foul of these instruments. But are they really so dangerous? Promoters of derivatives rightly argue that they provide a service, helping to manage risk in increasingly volatile markets. Where large losses have occurred, it is because derivatives have been misused through greed, a lack of understanding of their risks and the failure of management to control properly those who deal in them, or all three. This book cuts through the hysteria and hype and explains in non-technical terms the unique risks of derivatives. These risks are discussed using actual examples, particularly the high-profile cases of the early 1990s. Managing Derivative Risks also discusses topical issues such as Value at Risk and the latest Bank for International Settlements’ capital requirements for market risk. It will prove a valuable source of information for finance directors, treasurers, institutional investors, fund managers, bankers, regulators, and anyone who sits on a corporate board.

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