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Energy Trading And Risk Management

Author : Iris Marie Mack
ISBN : 9781118339367
Genre : Business & Economics
File Size : 52.92 MB
Format : PDF, Mobi
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A comprehensive overviewof trading and risk management in the energy markets Energy Trading and Risk Management provides a comprehensiveoverview of global energy markets from one of the foremostauthorities on energy derivatives and quantitative finance. With anapproachable writing style, Iris Mack breaks down the three primaryapplications for energy derivatives markets – RiskManagement, Speculation, and Investment Portfolio Diversification– in a way that hedge fund traders, consultants, and energymarket participants can apply in their day to day tradingactivities. Moving from the fundamentals ofenergy markets through simple and complex derivatives trading,hedging strategies, and industry-specific case studies, Dr. Mackwalks readers through energy trading and risk management conceptsat an instructive pace, supporting her explanations with real-worldexamples, illustrations, charts, and precise definitions ofimportant and often-misunderstood terms. From stochastic pricing modelsfor exotic derivatives, to modern portfolio theory (MPT), energyportfolio management (EPM), to case studies dealing specificallywith risk management challenges unique to wind and hydro-electricpower, the bookguides readers through the complex world of energytrading and risk management to help investors, executives, andenergy professionals ensure profitability and optimal riskmitigation in every market climate. Energy Trading and RiskManagement is a great resource to help grapple with the veryinteresting but oftentimes complex issues that arise in energytrading and risk management.
Category: Business & Economics


Author : H. Kent Baker
ISBN : 9780190656034
Genre : Business & Economics
File Size : 32.95 MB
Format : PDF
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Commodities: Markets, Performance, and Strategies provides a comprehensive view of commodity markets by describing and analyzing historical commodity performance, vehicles for investing in commodities, portfolio strategies, and current topics. It begins with the basics of commodity markets and various investment vehicles. The book then highlights the unique risk and return profiles of commodity investments, along with the dangers from mismanaged risk practices. The book also provides important insights into recent developments, including high frequency trading, financialization, and the emergence of virtual currencies as commodities. Readers of Commodities: Markets, Performance, and Strategies can gain an in-depth understanding about the multiple dimensions of commodity investing from experts from around the world. Commodity markets can be accessed with products that create unique risk and return dynamics for investors worldwide. The authors provide insights in a range of areas, from the economics of supply and demand for individual physical commodities through the financial products used to gain exposure to commodities. The book balances useful practical advice on commodity exposure while exposing the reader to various pitfalls inherent in these markets. Readers interested in a basic understanding will benefit as will those looking for more in-depth presentations of specific areas within commodity markets. Overall, Commodities: Markets, Performance, and Strategies provides a fresh look at the myriad dimensions of investing in these globally important markets.
Category: Business & Economics

Introduction Of Blockchain Into The Commodity Trading Process

Author : Christoph Ulbig
ISBN : 9783961162772
Genre : Business & Economics
File Size : 77.82 MB
Format : PDF, Docs
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Within the last years blockchain has become more in focus of the commodity trading sector because of its reputed potential. The characteristics of blockchain can be used to make it to an infrastructure technology. The trend toward the use of blockchain therefore furthers the optimization of the entire value chain and reduction of the friction costs within the trading process. To reduce friction costs and to make use of the characteristics of blockchain, the technology is being introduced as a radical innovation into the commodity trading value chain. The focus of this thesis is on the resulting effects on the value chain after implementation. The research is conducted in a qualitative way, with an inductive research approach. Data is collected in order to build the theory, and interviews are conducted using the Gioia methodology for data analysis. The findings indicate that the value chain as a source of competitive advantage is affected in an overall positive way for firms. Competitive advantage is supported by value-adding effects and cost reduction, which are both are enhanced through the use of blockchain. In addition, the results indicate that the competitive advantage of a company is also supported through power. The power that results from independence and control of data and information is enhanced by blockchain. It is therefore possible to conclude that the value chain of a company is positively affected by the radical innovation of blockchain. This leads to a greater competitive advantage for the company and positive performance in a competitive environment.
Category: Business & Economics


Author : Various Authors
ISBN : 1849300003
Genre : Business & Economics
File Size : 54.38 MB
Format : PDF
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Compiled by more than 300 of the world's leading professionals, visionaries, writers and educators, this is THE first-stop reference resource and knowledge base for finance. QFINANCE covers an extensive range of finance topics with unique insight, authoritative information, practical guidance and thought-provoking widsom. Unmatched for in-depth content, QFINANCE contains more than 2 million words of text, data analysis, critical summaries and bonus online content. Created by Bloomsbury Publishing in association with the Qatar Financial Centre (QFC) Authority, QFINANCE is the expert reference resource for finance professionals, academics, students, journalists and writers. QFINANCE: The Ultimate Resource Special Features: Best Practice and Viewpoint Essays – Finance leaders, experts and educators address how to resolve the most crucial issues and challenges facing business today. Finance Checklists – Step-by-step guides offer problem-solving solutions including hedging interest-rate risk, governance practices, project appraisal, estimating enterprise value and managing credit ratings. Calculations and Ratios – Essential mathematical tools include how to calculate return on investment, return on shareholders’ equity, working capital productivity, EVA, risk-adjusted rate of return, CAPM, etc. Finance Thinkers and Leaders – Illuminating biographies of 50 of the leading figures in modern finance including Joseph De La Vega, Louis Bachelier, Franco Modigliani, Paul Samuelson, and Myron Scholes Finance Library digests –Summaries of more than 130 key works ranging from “Against the Gods” to “Portfolio Theory & Capital Markets” and “The Great Crash”. Country and Sector Profiles – In-depth analysis of 102 countries and 26 sectors providing essential primary research resource for direct or indirect investment. Finance Information Sources – A select list of the best resources for further information on finance and accounting worldwide, both in print and online, including books, journal articles, magazines, internet, and organizations Finance Dictionary – A comprehensive jargon-free, easy-to-use dictionary of more than 9,000 finance and banking terms used globally. Quotations – More than 2,000 business relevant quotations. Free access to QFinance Online Resources ( Get daily content updates, podcasts, online events and use our fully searchable database.
Category: Business & Economics

King Of Oil

Author : Daniel Ammann
ISBN : 3280055628
Genre :
File Size : 23.70 MB
Format : PDF, Docs
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Handbook Of Multi Commodity Markets And Products

Author : Andrea Roncoroni
ISBN : 9780470661833
Genre : Business & Economics
File Size : 48.71 MB
Format : PDF, ePub, Docs
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The comprehensive guide to working more effectively within the multi-commodity market. The Handbook of Multi-Commodity Markets and Products is the definitive desktop reference for traders, structurers, and risk managers who wish to broaden their knowledge base. This non-technical yet sophisticated manual covers everything the professional needs to become acquainted with the structure, function, rules, and practices across a wide spectrum of commodity markets. Contributions from a global team of renowned industry experts provide real-world examples for each market, along with tools for analyzing, pricing, and risk managing deals. The discussion focuses on convergence, including arbitrage valuation, econometric modeling, market structure analysis, contract engineering, and risk, while simulated scenarios help readers understand the practical application of the methods and models presented. Gradual deregulation and the resulting increase in diversity and activity have driven the evolution of the traditionally segmented market toward integration, raising important questions about opportunity identification and analysis in multi-commodity deals. This book helps professionals navigate the shift, providing in-depth information and practical advice. Structure and manage both simple and sophisticated multi-commodity deals Exploit pay-off profiles and trading strategies with a diversified set of commodity prices Develop more accurate forecasting models by considering additional metrics Price energy products and other commodities in segmented markets with an eye toward specific structural features As one of the only markets strong enough to boom during the credit crunch, the commodities markets are growing rapidly. Combined with increasing convergence, this transition presents potentially valuable opportunities for the development of a robust multi-commodity portfolio. For the professional seeking deeper understanding and a more effective strategy, the Handbook of Multi-Commodity Markets and Products offers complete information and expert guidance.
Category: Business & Economics

Life Settlements And Longevity Structures

Author : Geoff Chaplin
ISBN : 9780470741948
Genre : Business & Economics
File Size : 65.16 MB
Format : PDF, Mobi
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Recent turbulence in the financial markets has highlighted the need for diversified portfolios with lower correlations between the different investments. Life settlements meet this need, offering investors the prospect of high, stable returns, uncorrelated with the broader financial markets. This book provides readers of all levels of experience with essential information on the process surrounding the acquisition and management of a portfolio of life settlements; the assessment, modelling and mitigation of the associated longevity, interest rate and credit risks; and practical approaches to financing and risk management structures. It begins with the history of life insurance and looks at how the need for new financing sources has led to the growth of the life settlements market in the United States. The authors provide a detailed exploration of the mathematical formulae surrounding the generation of mortality curves, drawing a parallel between the tools deployed in the credit derivatives market and those available to model longevity risk. Structured products and securitisation techniques are introduced and explained, starting with simple vanilla products and models before illustrating some of the investment structures associated with life settlements. Capital market mechanisms available to assist the investor in limiting the risks associated with life settlement portfolios are outlined, as are opportunities to use life settlement portfolios to mitigate the risks of traditional capital markets. The last section of the book covers derivative products, either available now or under consideration, that will reduce or potentially eliminate longevity risks within life settlement portfolios. It then reviews hedging and risk management strategies and considers how to measure the effectiveness of risk mitigation.
Category: Business & Economics

The Hedge Fund Edge

Author : Mark Boucher
ISBN : 0471185388
Genre : Business & Economics
File Size : 80.55 MB
Format : PDF
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Achieve higher returns with lower risk and take your profitsglobally. A leading hedge fund trader offers a solid and profitable tradingapproach to the world markets. "This is the best stock market book that I have read in a longtime. Boucher lays it out clearly, concisely, and in a mostinteresting manner. A 'must read' for anyone who invests in theequities market." -Dan Sullivan Editor, The Chartist "A leading practitioner offers rich theoretical insights and soundpractical advice based on years of successful trading. Mark Boucheris that rare investment analyst who knows what really works intrading and can communicate it with authority and grace." -NelsonFreeburg Editor and Publisher, Formula Research, Inc. The Hedge Fund Edge is an indispensable guide for any investor ortrader who wants to consistently profit from the markets withouthaving to undergo huge risks. Mark Boucher, hedge fund manager andwell-known speaker on trading, provides readers with a solidmethodology for achieving market-beating, long-run returns withrisk that is substantially below the long-run risk of U.S. andglobal equities. Boucher first looks at the limitations of traditional stock andbond investing, and then explains how to determine the safest andmost profitable periods for investing in stocks in any country. Heexplains this strategy both conceptually and with an objectivemodel that has been used to manage money successfully since the1950s. He shows how to allocate funds among global equities at anygiven time while following safe, reliable, and profitable trends.The book also provides a thorough discussion of the AustrianLiquidity Cycle, an original combination of Austrian Economics,Economic Alchemy, and Liquidity Cycle Theory. Boucher explains howto use this theory to understand the major moves behind the marketsand determine the most profitable market in which to invest. The Hedge Fund Edge provides critical valuation and technicalmodels as well as essential information on stock selectiontechniques to help readers identify which markets and stocks areboth lower-risk and higher-performing. Boucher also describes, indetail, the impact of governmental policies on the markets and theconnection between macroeconomic performance and investmentperformance. Also included are essential timing models fordetermining when to invest in gold, bonds, commodities, and otherasset classes, as well as methods for allocating a portfolio withthe goal of investing in the very best trends at any one point intime across all asset classes. The book emphasizes the power ofdiversification among asset classes, such as arbitrage funds,global hedge funds, different types of futures funds, distressedbonds, and other market-uncorrelated investments. Boucher explainshow this diversification can be used to build a bullet-proof andhighly profitable portfolio that returns consistently high profitswith much lower than market risk. Boucher provides examples fromhis own real-time hedge fund trading experience and offers hisperformance as proof of what can be achieved via thesetechniques. The Hedge Fund Edge melds market timing, vehicle selection, riskmanagement techniques, economic insight and understanding, andtactical asset allocation into a totally new philosophy andapproach that has been proven to produce spectacular gains withrelatively low risk.
Category: Business & Economics