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

Global Derivative Debacles: From Theory To Malpractice

Autor: Laurent L. Jacque
Limbă: engleză
Legare: Copertă tare
Editura: World Scientific Publishing Co Pte Ltd
Disponibilitate: În depozitul extern
Expediem în 14-21 zile
674.97 lei
This book analyzes in depth all major derivatives debacles going back to Citibank's forex losses in...

Informații despre carte

Autor
Laurent L. Jacque
Limbă
engleză
Legare
Carte - Copertă tare
Publicat
2010
Pagini
336
EAN
9789812837707
ISBN
9812837701
Enbook ID
05069423
Editura
World Scientific Publishing Co Pte Ltd
Greutate
635
Dimensiuni
155 x 231 x 23

Descriere completă

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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