ENERGY TRADING AND RISK MANAGEMENT A PRACTICAL APPROACH TO HEDGING TRADING AND PORTFOLIO DIVERSIFICATION WILEY FINANCE

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Energy Trading And Risk Management

Author : Iris Marie Mack
ISBN : 9781118339367
Genre : Business & Economics
File Size : 33.72 MB
Format : PDF, Docs
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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

Commodities

Author : H. Kent Baker
ISBN : 9780190656034
Genre : Business & Economics
File Size : 87.69 MB
Format : PDF, ePub, Docs
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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

The Mathematics Of Options

Author : Michael C. Thomsett
ISBN : 9783319566351
Genre : Business & Economics
File Size : 69.82 MB
Format : PDF, Docs
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This book is written for the experienced portfolio manager and professional options traders. It is a practical guide offering how to apply options math in a trading world that demands mathematical measurement. Every options trader deals with an array of calculations: beginners learn to identify risks and opportunities using a short list of strategies, while researchers and academics turn to advanced technical manuals. However, almost no books exist for the experienced portfolio managers and professional options traders who fall between these extremes. Michael C. Thomsett addresses this glaring gap with The Mathematics of Options, a practical guide with actionable tools for the practical application of options math in a world that demands quantification. It serves as a valuable reference for advanced methods of evaluating issues of pricing, payoff, probability, and risk. In his characteristic approachable style, Thomsett simplifies complex hot button issues—such as strategic payoffs, return calculations, and hedging options—that may be mentioned in introductory texts but are often underserved. The result is a comprehensive book that helps traders understand the mathematic concepts of options trading so that they can improve their skills and outcomes.
Category: Business & Economics

Qfinance

Author : Various Authors
ISBN : 1849300003
Genre : Business & Economics
File Size : 68.11 MB
Format : PDF, ePub, Docs
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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 (www.qfinance.com): Get daily content updates, podcasts, online events and use our fully searchable database.
Category: Business & Economics

The Hedge Fund Edge

Author : Mark Boucher
ISBN : 0471185388
Genre : Business & Economics
File Size : 27.45 MB
Format : PDF, ePub
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Read : 156

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

Islamic Capital Markets

Author : Noureddine Krichene
ISBN : 9781118247167
Genre : Business & Economics
File Size : 89.53 MB
Format : PDF
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A comprehensive look at the essentials of Islamic capital markets Bringing together theoretical and practical aspects of capital markets, Islamic Capital Markets offers readers a comprehensive insight into the institutions, instruments, and regulatory framework that comprise Islamic capital markets. Also exploring ideas about money, central banking, and economic growth theory and their role in Islamic capital markets, the book provides students and practitioners with essential information about the analytical tools of Islamic capital markets, serves as a guide to investing in Islamic assets, and examines risk management and the structure of Islamic financial products. Author and Islamic finance expert Noureddine Krichene examines the development of leading Islamic capital markets, including Malaysia, looking at sukuks and stocks in detail and emphasizing valuation, duration, convexity, immunization, yield curves, forward rates, swaps, and risks. Analyzing stock markets, stock valuation, price-earnings ratio, market efficiency hypothesis, and equity premiums, the book addresses uncertainty in capital markets, portfolio diversification theory, risk-return trade-off, pricing of assets, cost of capital, derivatives and their role in hedging and speculation, the principle of arbitrage and replication, Islamic structured products, the financing of large projects, and more. Emphasizes both theoretical and practical aspects of capital markets, covering analytical concepts such as the theory of arbitrage, pricing of assets, capital market pricing model, Arrow-Debreu state prices, risk-neutral pricing, derivatives markets, hedging and risk management, and structured products Provides students and practitioners of finance with must-have information about the analytical tools employed in Islamic capital markets Examines all the most recent developments in major Islamic capital markets, including Malaysia Discussing the advantages of Islamic capital markets and the prospects for their development, Islamic Capital Markets gives readers a fundamental grounding in the subject, with an emphasis on financial theory and real world practice.
Category: Business & Economics

Encyclopedia Of Business Information Sources

Author : Linda D. Hall
ISBN : 0787697036
Genre : Business & Economics
File Size : 66.80 MB
Format : PDF, Kindle
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Each updated edition of this detailed resource identifies nearly 35,000 live, print and electronic sources of information listed under more than 1,100 alphabetically arranged subjects -- industries and business concepts and practices. Edited by business information expert James Woy.
Category: Business & Economics

Handbook Of Multi Commodity Markets And Products

Author : Andrea Roncoroni
ISBN : 9780470745243
Genre : Business & Economics
File Size : 65.37 MB
Format : PDF, Kindle
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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 : 46.73 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

Managed Trading

Author : Jack D. Schwager
ISBN : 0471020575
Genre : Business & Economics
File Size : 89.73 MB
Format : PDF, Docs
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An in-depth investigation into the risky business of managed futures?written by one of today's most widely respected financial authorities Due to their meteoric investment returns and role as diversification and inflation hedging instruments, managed futures?professionally managed investments in commodity and financial futures markets?have grown enormously popular. Yet with apparent success comes disaster, including a two-year string of financial calamities capped by the bankruptcy of California's Orange County. Now Jack Schwager, the man most traders think is futures, investigates the financial practices of a $25 billion business many experts feel is dangerously out of control. Sure to stir controversy in corporate boardrooms and on busy trading floors, this timely, detailed book takes readers to the frenzied center of the managed futures market, exploding many commonly held myths about its theoretical underpinnings and performance. Discusses hot topics such as investor behavior, the benefits of diversification, and the effect of adding managed futures to conventional portfolios Newest edition in the widely admired Schwager on Futures Series (including Fundamental Analysis and Technical Analysis) JACK D. SCHWAGER (New York, New York) is Director of Futures Research and Trading at Prudential Securities and one of the co-principals of Wizard Trading. Schwager is a highly regarded commodity trading advisor whose writing has appeared in many publications including the Handbook of Futures Markets, Trading Tactics, and Commodity Research Bureau Yearbook.
Category: Business & Economics