Edwards Risk Management in Trading

Techniques to Drive Profitability of Hedge Funds and Trading Desks
1. Auflage 2014
ISBN: 978-1-118-77284-3
Verlag: John Wiley & Sons
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 320 Seiten, E-Book

Reihe: Wiley Finance Editions

A comprehensive resource for understanding how to minimize riskand increase profits
In this accessible resource, Wall Street trader and quantitativeanalyst Davis W. Edwards offers a definitive guide fornonprofessionals which describes the techniques and strategiesseasoned traders use when making decisions. Risk Management inTrading includes an introduction to hedge fund and proprietarytrading desks and offers an in-depth exploration on the topic ofrisk avoidance and acceptance. Throughout the book Edwards exploresthe finer points of financial risk management, shows how todecipher the jargon of professional risk-managers, and reveals hownon-quantitative managers avoid risk management pitfalls.
Avoiding risk is a strategic decision and the author shows howto adopt a consistent framework for risk that compares one type ofrisk to another. Edwards also stresses the fact that any tradingdecision that isn't based on the goal of maximizing profits is adecision that should be strongly scrutinized. He also explains thatbeing familiar with all the details of a transaction is vital formaking the right investment decision.
* Offers a comprehensive resource for understanding financialrisk management
* Includes an overview of the techniques and tools professionalsuse to control risk
* Shows how to transfer risk to maximize results
* Written by Davis W. Edwards, a senior manager in Deloitte'sEnergy Derivatives Pricing Center
Risk Management in Trading gives investors a hands-onguide to the strategies and techniques professionals rely on tominimize risk and maximize profits.

Autoren/Hrsg.

Edwards, Davis

Inhaltsverzeichnis

Preface ix
CHAPTER 1 Trading and Hedge Funds 1
CHAPTER 2 Financial Markets 33
CHAPTER 3 Financial Mathematics 61
CHAPTER 4 Backtesting and Trade Forensics 95
CHAPTER 5 Mark to Market 121
CHAPTER 6 Value-at-Risk 141
CHAPTER 7 Hedging 177
CHAPTER 8 Options, Greeks, and Non-Linear Risks 199
CHAPTER 9 Credit Value Adjustments (CVA) 237
Afterword 267
Answer Key 269
About the Author 299
Index 301

Über Autor(innen)

DAVIS W. EDWARDS, FRM, ERP, is a senior manager inDeloitte's Energy Derivatives Pricing Center and a specialiston the topics of risk management, statistical analysis, andvaluation of financial derivatives. Prior to joining Deloitte, heworked as a director of credit risk at Macquarie Bank and seniormanaging director on the proprietary trading desk at Bear Stearns.Davis was an early pioneer in the development of artificialintelligence execution and order-matching systems thatrevolutionized the NYSE and NASDAQ. Davis is a Certified EnergyRisk Professional (ERP) and Financial Risk Manager (FRM) with theGlobal Association of Risk Professionals and directs theorganization's professional chapter in Houston, Texas.