A former member of the American Stock Exchange introduces trading and financial markets to upper-division undergraduates and graduate students who are planning to work in the finance industry. Unlike standard investment texts that cover trading as one of many subjects, Financial Trading and Investing gives primary attention to trading, trading institutions, markets, and the institutions that facilitate and regulate trading activities—what economists call "market microstructure." T...

Praise for Quantitative Equity Portfolio Management“A must-have reference for any equity portfolio manager or MBA student, this book is a comprehensive guide to all aspects of equity portfolio management, from factor models to tax management.” ERIC ROSENFELD, Principal & Co-founder of JWM Partners“This is an ambitious book that both develops the broad range of artillery employed in quantitative equity investment management and provides...

With the exponential growth in financial derivatives, accounting standards setters have had to keep pace and devise new ways of accounting for transactions involving these instruments, especially hedging activities. This book addresses the essential elements of these developments. The early chapters provide a basic foundation by discussing the concepts of risk, risk types and measurement, and risk management. This is followed by an introduction to the nature and valuation of free standing ...

"TAIL RISKS" originate from the failure of mean reversion and the idealized bell curve of asset returns, which assumes that highly probable outcomes occur near the center of the curve and that unlikely occurrences, good and bad, happen rarely, if at all, at either "tail" of the curve. Ever since the global financial crisis, protecting investments against these severe tail events has become a priority for investors and money managers, but it is something Vineer Bhansali and his team at PIMC...

"A hands-on introduction to what happens on the Street—if you are entering or thinking of joining the financial industry . . . this book is a must." —Nikunj Kapadia, Professor, Isenberg School of Management, University of Massachusetts AmherstWritten by an experienced trader in a clear, conversational style and assuming no previous background in finance, The Practical Guide to Wall Street provides a thorough schooling in the core curriculum of the equity a...

Today's most complete, up-to-date reference for controlling credit risk exposure of all types, in every environmentMeasuring and Managing Credit Risk takes you far beyond the Basel guidelines to detail a powerful, proven program for understanding and controlling your firm’s credit risk. Providing hands-on answers on practical topics from capital management to correlations, and supporting its theories with up-to-the-minute data and insights, this authoritative book ...

Bank Valuation & Value-Based Management provides bankers, bank regulators, auditors, and risk managers with foundational concepts and practical tools for effectively managing a bank. An expert in asset and liability management, European financial markets, and banking theory, Jean Dermine provides rigorous foundations to discuss asset and liability management at a global level, with an integrated focus on an institution’s banking book. He covers bank valuation, fund transfer p...

Managers can deploy and manage economic capital more effectively when they understand how their decisions add value to their organizations. Economic Capital: How It Works and What Every Manager Needs to Know presents new ways to define, measure, and implement management strategies by using recent examples, many from the sub-prime crisis. The authors also discuss the role of economic capital within the broader context of management responsibilities and activities as well as its relation to ...

The essential premise of this book is that theory and practice are equally important in describing financial modeling. In it the authors try to strike a balance in their discussions between theories that provide foundations for financial models and the institutional details that provide the context for applications of the models. The book presents the financial models of stock and bond options, exotic options, investment grade and high-yield bonds, convertible bonds, mortgage-backed securi...

Financial Analyst’s Indispensable Pocketguide is the first reference to give the more than 20,000 candidates who take AIMR-administered CFA exams annually—and the 60,000-plus CFAs and finance professionals who currently practice investment management—a single broad-based resource for specific terminology and information. Much more than just a dictionary, this dynamic book explains and expands upon the fundamental concepts that comprise a financial analyst’s lexicon.Within each section, Ram...

All investments carry with them some degree of risk. In the financial world, individuals, professional money managers, financial institutions, and many others encounter and must deal with risk. Risk management is a process of determining what risks exist in an investment and then handling those risks in the best-suited way. This is important because it can reduce or augment risk depending on the goals of investors and portfolio managers. The main purpose of Investment Risk Management

#1 NEW YORK TIMES BESTSELLERRevised & updatedWHAT WILL YOU LEARN IN THE MONEY CLASS?How to find the courage to stand in your truth and why it is a place of power.What daily actions will restore the word “hope” to your vocabulary.Everything you need to know about taking care of your family, your home, your career, and planning for retirement—no matter where you are in your life or where t...