Books on complex hedging instruments are often more confusing than the instruments themselves. Hedging Instruments & Risk Management brings clarity to the topic, giving money managers the straightforward knowledge they need to employ hedging tools and techniques in four key markets―equity, currency, fixed income, and mortgage. Using real-world data and examples, this high-level book shows practitioners how to develop a common set of mathematical and statistical tools for hedging in various markets and then outlines several hedging strategies with the historical performance of each.
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A straightforward approach to hedging risk in equity, fixed income, commodity, currency, and mortgage markets
Hedging is today’s key risk management tool for financial professionals in a wide variety of roles and markets. Yet while markets each have a unique set of characteristics, most share a fundamental structure that allows risks to be managed using a common set of mechanics, tools and techniques.
Hedging Instruments & Risk Management is the first guidebook to examine these tools as they apply to each market. It provides portfolio managers, corporate treasurers, and other finance practitioners and professionals with:
Financial risk impacts virtually every business operation, yet can be managed using a relatively uniform set of techniques. Hedging Instruments & Risk Management is a clearly-written guide to the mechanics of using these techniques to hedge in today’s risk-driven marketplace.
“Most markets share a fundamental structure that can be managed with a common set of mechanics. Our objective in writing this book is to provide the reader with a self-contained, accessible guide to the mechanics and risks of hedging in various markets.”
--From Chapter 1
Businesses are exposed to systematic price risk in many forms. Because this risk exposure can impact the ability to forecast, plan, or even operate a business in an efficient and competitive manner, most financial decision-makers turn to hedging to neutralize this risk so they can focus on core business opportunities.
Hedging Instruments & Risk Management provides a comprehensive and results-oriented approach to making informed hedging decisions. Focusing on practical details of key hedging instruments as well as insights into the real-world application of these instruments, this finance practitioner’s handbook covers information including:
Hedging allows financial professionals to accomplish a number of risk management objectives, from decreasing cash flow volatility and offsetting interest rate fluctuations to minimizing price risk, default risk, and more. In a world of razor-thin margins, the challenge is to select a hedge that provides the most protection while incurring the least expense. Hedging Instruments & Risk Management compiles the information, data, definitions, and examples hedgers need to consistently meet this challenge, and develop a stable, long-term, and cost-effective hedging strategy.About the Author:
Patrick Cusatis, Ph.D. is an assistant professor of finance at Penn State University at Harrisburg and a principal at Applied Finance Partners, LLC. He was formally an investment banker and derivatives portfolio manager and has consulted to many financial institutions and municipalities. He is the coauthor of Municipal Derivative Securities: Uses and Valuation and Streetsmart Guide to Valuing a Stock.
Martin Thomas, Ph.D. is a principal at Applied Finance Partners, LLC. He is an Executive in Residence at Drexel University where he teaches graduate courses in Finance in the LeBow College of Business. A former financial services executive, he has extensive expertise helping companies to develop value-based approaches to financial decision making.
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Book Description McGraw-Hill Education, 2005. Hardcover. Book Condition: New. Bookseller Inventory # P110071443126
Book Description McGraw-Hill, 2005. Hardcover. Book Condition: New. 1. Bookseller Inventory # DADAX0071443126
Book Description McGraw-Hill Education. Hardcover. Book Condition: New. 0071443126 New Condition. Bookseller Inventory # NEW6.0027620