Financial Engineering and Arbitrage in the Financial Markets
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Financial Engineering and Arbitrage in the Financial Markets
EN NW EBISBN: 9780470746011 bzw. 0470746017, in Englisch, Wiley, neu, E-Book.
Lieferung aus: Vereinigte Staaten von Amerika, E-Book zum download.
Business, A whole is worth the sum of its parts. Even the most complex structured bond, credit arbitrage strategy or hedge trade can be broken down into its component parts, and if we understand the elemental components, we can then value the whole as the sum of its parts. We can quantify the risk that is hedged and the risk that is left as the residual exposure. If we learn to view all financial trades and securities as engineered packages of building blocks, then we can analyze in which structures some parts may be cheap and some may be rich. It is this relative value arbitrage principle that drives all modern trading and investment. This book is an easy-to-understand guide to the complex world of today’s financial markets teaching you what money and capital markets are about through a sequence of arbitrage-based numerical illustrations and exercises enriched with institutional detail. Filled with insights and real life examples from the trading floor, it is essential reading for anyone starting out in trading. Using a unique structural approach to teaching the mechanics of financial markets, the book dissects markets into their common building blocks: spot (cash), forward/futures, and contingent (options) transactions. After explaining how each of these is valued and settled, it exploits the structural uniformity across all markets to introduce the difficult subjects of financially engineered products and complex derivatives. The book avoids stochastic calculus in favour of numeric cash flow calculations, present value tables, and diagrams, explaining options, swaps and credit derivatives without any use of differential equations.
Business, A whole is worth the sum of its parts. Even the most complex structured bond, credit arbitrage strategy or hedge trade can be broken down into its component parts, and if we understand the elemental components, we can then value the whole as the sum of its parts. We can quantify the risk that is hedged and the risk that is left as the residual exposure. If we learn to view all financial trades and securities as engineered packages of building blocks, then we can analyze in which structures some parts may be cheap and some may be rich. It is this relative value arbitrage principle that drives all modern trading and investment. This book is an easy-to-understand guide to the complex world of today’s financial markets teaching you what money and capital markets are about through a sequence of arbitrage-based numerical illustrations and exercises enriched with institutional detail. Filled with insights and real life examples from the trading floor, it is essential reading for anyone starting out in trading. Using a unique structural approach to teaching the mechanics of financial markets, the book dissects markets into their common building blocks: spot (cash), forward/futures, and contingent (options) transactions. After explaining how each of these is valued and settled, it exploits the structural uniformity across all markets to introduce the difficult subjects of financially engineered products and complex derivatives. The book avoids stochastic calculus in favour of numeric cash flow calculations, present value tables, and diagrams, explaining options, swaps and credit derivatives without any use of differential equations.
2
Financial Engineering and Arbitrage in the Financial Markets (2011)
EN HC USISBN: 9780470746011 bzw. 0470746017, in Englisch, 380 Seiten, 2. Ausgabe, Wiley, gebundenes Buch, gebraucht.
Lieferung aus: Vereinigte Staaten von Amerika, Usually ships in 1-2 business days.
Von Händler/Antiquariat, _nearfine_.
A whole is worth the sum of its parts. Even the most complex structured bond, credit arbitrage strategy or hedge trade can be broken down into its component parts, and if we understand the elemental components, we can then value the whole as the sum of its parts. We can quantify the risk that is hedged and the risk that is left as the residual exposure. If we learn to view all financial trades and securities as engineered packages of building blocks, then we can analyze in which structures some parts may be cheap and some may be rich. It is this relative value arbitrage principle that drives all modern trading and investment. This book is an easy-to-understand guide to the complex world of today’s financial markets teaching you what money and capital markets are about through a sequence of arbitrage-based numerical illustrations and exercises enriched with institutional detail. Filled with insights and real life examples from the trading floor, it is essential reading for anyone starting out in trading. Using a unique structural approach to teaching the mechanics of financial markets, the book dissects markets into their common building blocks: spot (cash), forward/futures, and contingent (options) transactions. After explaining how each of these is valued and settled, it exploits the structural uniformity across all markets to introduce the difficult subjects of financially engineered products and complex derivatives. The book avoids stochastic calculus in favour of numeric cash flow calculations, present value tables, and diagrams, explaining options, swaps and credit derivatives without any use of differential equations., Hardcover, Ausgabe: 2, Label: Wiley, Wiley, Produktgruppe: Book, Publiziert: 2011-10-03, Studio: Wiley, Verkaufsrang: 1369016.
Von Händler/Antiquariat, _nearfine_.
A whole is worth the sum of its parts. Even the most complex structured bond, credit arbitrage strategy or hedge trade can be broken down into its component parts, and if we understand the elemental components, we can then value the whole as the sum of its parts. We can quantify the risk that is hedged and the risk that is left as the residual exposure. If we learn to view all financial trades and securities as engineered packages of building blocks, then we can analyze in which structures some parts may be cheap and some may be rich. It is this relative value arbitrage principle that drives all modern trading and investment. This book is an easy-to-understand guide to the complex world of today’s financial markets teaching you what money and capital markets are about through a sequence of arbitrage-based numerical illustrations and exercises enriched with institutional detail. Filled with insights and real life examples from the trading floor, it is essential reading for anyone starting out in trading. Using a unique structural approach to teaching the mechanics of financial markets, the book dissects markets into their common building blocks: spot (cash), forward/futures, and contingent (options) transactions. After explaining how each of these is valued and settled, it exploits the structural uniformity across all markets to introduce the difficult subjects of financially engineered products and complex derivatives. The book avoids stochastic calculus in favour of numeric cash flow calculations, present value tables, and diagrams, explaining options, swaps and credit derivatives without any use of differential equations., Hardcover, Ausgabe: 2, Label: Wiley, Wiley, Produktgruppe: Book, Publiziert: 2011-10-03, Studio: Wiley, Verkaufsrang: 1369016.
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Financial Engineering and Arbitrage in the Financial Markets
EN NWISBN: 9780470746011 bzw. 0470746017, in Englisch, John Wiley & Sons Inc, neu.
Many students of financial markets and institutions learn a lot of the descriptive details about types of securities and products traded, but do not gain a real insight into what drives people to trade in these markets. They leave the classroom still believing that financial trading firms primarily speculate on the direction of the market movements or earn money from fees. They fail to grasp the concept of relative value arbitrage, which drives most of the trading in today´s fast and interconnected markets.This book will teach them what money and capital markets are about through a sequence of arbitrage-based numerical illustrations and exercises enriched with institutional detail. It will explain to the reader what all the people sitting on the trading floors of financial firms do and why they all sit together.The new edition builds on the logic of the first book which is that all financial markets, whether for equity, commodities, currencies or credit, have the same structural building blocks. These are in the increasing order of complexity: spot (cash) transactions (immediate exchanges of cash for asset), forward/futures (pre-agreed-upon future exchanges of cash for asset), swaps (pre-agreed-upon sets of multiple future cash flow exchanges), and options (future exchanges of cash for asset contingent on an event or price level). These contracts are like Lego blocks continuously added together or taken apart by financial engineers to create new structured securities. The main valuation principle is simple: a whole is worth the sum of its parts.Section I explains the structural building blocks outlined above and puts them in the context of financial engineering and investment strategy.Section II is new and offers an overview of financial engineering landscape, from the general asset-backed trust structure to details of tranched mortgage securities, CDOs, exotic options and structured financial products people find offered to them in their brokerage accounts. There are no theoretical discussions of option valuation or calculus, instead Dubil gives established hedging practice, simple cash flow slicing and the building block math.Section III is also new and covers investment topics, including the standard theory of diversification leading on to buy-and-hold diversification .The objective of Section III is to explain the analytical tools used in these investment areas, relate and juxtapose them to relative value analysis of financial engineering, and to provide a deep understanding of the raison d´être/business model of these areas of finance.ContentsChapter 1 - The Anatomy of Financial MarketsChapter 2 - Spot MarketsChapter 3 - Forward MarketsChapter 4 - Swap MarketsChapter 5 - Option MarketsChapter 6 - Credit DerivativesII - Structured Finance and Financial EngineeringChapter 7 - Basics of Cash Flow EngineeringChapter 8 - Mortgage Backed SecuritiesChapter 9 - CDOs - Collateralized Debt ObligationsChapter 10 - Options AlchemyChapter 11 - Structured Products With OptionsIII - Investment and TradingChapter 12 - Portfolio TheoryCHAPTER 13 - Individual InvestorsCHAPTER 14 - Institutional InvestorsChapter 15 - Hedge FundsChapter 16 - Investment Banks, Private Equity and Venture CapitalChapter 17 - New Frontiers (optional chapter).
4
Financial Engineering and Arbitrage in the Financial Markets
EN NWISBN: 9780470746011 bzw. 0470746017, in Englisch, Wiley, Vereinigte Staaten von Amerika, neu.
Lieferung aus: Deutschland, zzgl. Versandkosten, Versandfertig innerhalb von 3 Wochen.
Financial Engineering and Arbitrage in the Financial Markets, Many students of financial markets and institutions learn a lot of the descriptive details about types of securities and products traded, but do not gain a real insight into what drives people to trade in these markets. They leave the classroom still believing that financial trading firms primarily speculate on the direction of the market movements or earn money from fees. They fail to grasp the concept of relative value arbitrage, which drives most of the trading in today's fast and interconnected markets.This book will teach them what money and capital markets are about through a sequence of arbitrage-based numerical illustrations and exercises enriched with institutional detail. It will explain to the reader what all the people sitting on the trading floors of financial firms do and why they all sit together.The new edition builds on the logic of the first book which is that all financial markets, whether for equity, commodities, currencies or credit, have the same structural building blocks. These are in the increasing order of complexity: spot (cash) transactions (immediate exchanges of cash for asset), forward/futures (pre-agreed-upon future exchanges of cash for asset), swaps (pre-agreed-upon sets of multiple future cash flow exchanges), and options (future exchanges of cash for asset contingent on an event or price level). These contracts are like Lego blocks continuously added together or taken apart by financial engineers to create new structured securities. The main valuation principle is simple: a whole is worth the sum of its parts.Section I explains the structural building blocks outlined above and puts them in the context of financial engineering and investment strategy.Section II is new and offers an overview of financial engineering landscape, from the general asset-backed trust structure to details of tranched mortgage securities, CDOs, exotic options and structured financial products people find offered to them in their brokerage accounts. There are no theoretical discussions of option valuation or calculus, instead Dubil gives established hedging practice, simple cash flow slicing and the building block math.Section III is also new and covers investment topics, including the standard theory of diversification leading on to buy-and-hold diversification .The objective of Section III is to explain the analytical tools used in these investment areas, relate and juxtapose them to relative value analysis of financial engineering, and to provide a deep understanding of the raison d'être/business model of these areas of finance.ContentsChapter 1 - The Anatomy of Financial MarketsChapter 2 - Spot MarketsChapter 3 - Forward MarketsChapter 4 - Swap MarketsChapter 5 - Option MarketsChapter 6 - Credit DerivativesII - Structured Finance and Financial EngineeringChapter 7 - Basics of Cash Flow EngineeringChapter 8 - Mortgage Backed SecuritiesChapter 9 - CDOs - Collateralized Debt ObligationsChapter 10 - Options AlchemyChapter 11 - Structured Products With OptionsIII - Investment and TradingChapter 12 - Portfolio TheoryCHAPTER 13 - Individual InvestorsCHAPTER 14 - Institutional InvestorsChapter 15 - Hedge FundsChapter 16 - Investment Banks, Private Equity and Venture CapitalChapter 17 - New Frontiers (optional chapter).
Financial Engineering and Arbitrage in the Financial Markets, Many students of financial markets and institutions learn a lot of the descriptive details about types of securities and products traded, but do not gain a real insight into what drives people to trade in these markets. They leave the classroom still believing that financial trading firms primarily speculate on the direction of the market movements or earn money from fees. They fail to grasp the concept of relative value arbitrage, which drives most of the trading in today's fast and interconnected markets.This book will teach them what money and capital markets are about through a sequence of arbitrage-based numerical illustrations and exercises enriched with institutional detail. It will explain to the reader what all the people sitting on the trading floors of financial firms do and why they all sit together.The new edition builds on the logic of the first book which is that all financial markets, whether for equity, commodities, currencies or credit, have the same structural building blocks. These are in the increasing order of complexity: spot (cash) transactions (immediate exchanges of cash for asset), forward/futures (pre-agreed-upon future exchanges of cash for asset), swaps (pre-agreed-upon sets of multiple future cash flow exchanges), and options (future exchanges of cash for asset contingent on an event or price level). These contracts are like Lego blocks continuously added together or taken apart by financial engineers to create new structured securities. The main valuation principle is simple: a whole is worth the sum of its parts.Section I explains the structural building blocks outlined above and puts them in the context of financial engineering and investment strategy.Section II is new and offers an overview of financial engineering landscape, from the general asset-backed trust structure to details of tranched mortgage securities, CDOs, exotic options and structured financial products people find offered to them in their brokerage accounts. There are no theoretical discussions of option valuation or calculus, instead Dubil gives established hedging practice, simple cash flow slicing and the building block math.Section III is also new and covers investment topics, including the standard theory of diversification leading on to buy-and-hold diversification .The objective of Section III is to explain the analytical tools used in these investment areas, relate and juxtapose them to relative value analysis of financial engineering, and to provide a deep understanding of the raison d'être/business model of these areas of finance.ContentsChapter 1 - The Anatomy of Financial MarketsChapter 2 - Spot MarketsChapter 3 - Forward MarketsChapter 4 - Swap MarketsChapter 5 - Option MarketsChapter 6 - Credit DerivativesII - Structured Finance and Financial EngineeringChapter 7 - Basics of Cash Flow EngineeringChapter 8 - Mortgage Backed SecuritiesChapter 9 - CDOs - Collateralized Debt ObligationsChapter 10 - Options AlchemyChapter 11 - Structured Products With OptionsIII - Investment and TradingChapter 12 - Portfolio TheoryCHAPTER 13 - Individual InvestorsCHAPTER 14 - Institutional InvestorsChapter 15 - Hedge FundsChapter 16 - Investment Banks, Private Equity and Venture CapitalChapter 17 - New Frontiers (optional chapter).
5
Financial Engineering and Arbitrage in the Financial Markets
EN HC NWISBN: 9780470746011 bzw. 0470746017, in Englisch, Wiley, gebundenes Buch, neu.
Lieferung aus: Vereinigte Staaten von Amerika, Lagernd, zzgl. Versandkosten.
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Die Beschreibung dieses Angebotes ist von geringer Qualität oder in einer Fremdsprache. Trotzdem anzeigen
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