Overview
Advanced Strategies in Financial Risk ManagementRobert J. Schwartz, Clifford W. Smith, Jr.
"Advanced Strategies in Financial Risk Management should be read by all practitioners, students and regulators of the derivatives markets. It brings together the collective wisdom of the top market and academic experts in the field. In our rapidly advancing and changing environment, it is essential reading." -Mark C. Brickell
Co-chairman, Regulation and Risk-Mitigation Committee, International Swap Dealers Association
"In this new book, Bob Schwartz and Cliff Smith have created an invaluable companion to their previous book, The Handbook of Currency and Interest Rate Risk Management. Once again, they have assembled an impressive array of contributing authors, whose hands-on experience in the currency and derivative markets will be of great assistance to market practitioners, regulators, and other students of these markets."
Wendy L. Gramm, Ph.D.
Former Chairman, Commodity Futures Trading Commission
"The editors have gathered some of the finest minds to present the latest techniques and analytical tools for complex issues currently faced by market participants. Advanced Strategies in Financial Risk Management is essential reading for all financial managers to understand today's sophisticated approaches to risk measurement and control."
-Donald S. Howard
Chief Financial Officer, Saloman Inc.
"Bob Schwartz and Clifford Smith have put together another highly interesting and useful book. This continuing drive to expand our understanding of the nooks and crannies of the derivatives market is most welcome. It provides a further insight into the products and their uses and helps market participants, their managers, and regulators in their efforts to further improve professionalism in the market."
-Malcolm Basing
Managing Director, Global Swaps, Swiss Bank Corporation
Synopsis
Advanced Strategies in Financial Risk Management brings together, from Wall Street, corporate finance, and the academic community--over 40 leading authorities with intimate knowledge of sophisticated, new financial risk management instruments and techniques.
Each of the book's eight sections focuses on a specific financial topic, providing practical advice and useful tools to help analyze the myriad potential alternatives to manage risks.
Readers will learn how to evaluate interest rate and currency risks; gain insight into futures, forwards, swaps and options; and see how to better manage assets and liabilities.
Expert guidance is provided on how to employ swaps and hybrid investments to manage corporate liabilities and protect against default risk.
There is also a thorough analysis of innovative applications of financial engineering to new products and advanced techniques to hedge business cycle risk.
This one-of-a-kind reference offers practical advice and strategies to prevent tax and accounting problems, plus a detailed examination of the evolving legal standards for hybrid securities and the impact of key regulations on new financial products.
The reader will discover how to use different models to more effectively analyze interest rate risk, bond options, the pricing of options on caps and floors and options on the average foreign exchange rate over a period of time.
Fully illustrated pricing models, detailed formulas, and tables presenting easy-to-follow comparisons of different methods make this new book indispensable to anyone involved in today's highly volatile financial markets.