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Dynamic Hedging
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Editorial Reviews
From Publishers Weekly
If the dot-com bubble was an age of unabashed risk-taking, the prolonged hangover from that binge has fostered a period of risk aversion; this snappily titled volume is a detailed text of tools that financial organizations can use to hedge even the most minute financial activity. Crafted by an option trader who's slugged it out in the international banking netherworld of derivatives risk, this book tears apart the heady instruments of risk management. This no modern financial history for the business-minded; rather, it's a recipe book for pointy-heads who live deep in the nervous system of the global financial system. Taleb explores the differences between European binary options, Asian options and American single binary options, including a case study on "the ravages of time." The book jacket proclaims a text "in plain English," but the book is steeped in jargon and concepts targeted to a reader well familiar with the arcane world of the options market.
Copyright 2002 Reed Business Information, Inc.
Product Description
Destined to become a market classic, Dynamic Hedging is the only practical reference in exotic options hedgingand arbitrage for professional traders and money managers
Watch the professionals. From central banks to brokerages to multinationals, institutional investors are flocking to a new generation of exotic and complex options contracts and derivatives. But the promise of ever larger profits also creates the potential for catastrophic trading losses. Now more than ever, the key to trading derivatives lies in implementing preventive risk management techniques that plan for and avoid these appalling downturns. Unlike other books that offer risk management for corporate treasurers, Dynamic Hedging targets the real-world needs of professional traders and money managers. Written by a leading options trader and derivatives risk advisor to global banks and exchanges, this book provides a practical, real-world methodology for monitoring and managing all the risks associated with portfolio management.
Nassim Nicholas Taleb is the founder of Empirica Capital LLC, a hedge fund operator, and a fellow at the Courant Institute of Mathematical Sciences of New York University. He has held a variety of senior derivative trading positions in New York and London and worked as an independent floor trader in Chicago. Dr. Taleb was inducted in February 2001 in the Derivatives Strategy Hall of Fame. He received an MBA from the Wharton School and a Ph.D. from University Paris-Dauphine.
See all Editorial Reviews
If the dot-com bubble was an age of unabashed risk-taking, the prolonged hangover from that binge has fostered a period of risk aversion; this snappily titled volume is a detailed text of tools that financial organizations can use to hedge even the most minute financial activity. Crafted by an option trader who's slugged it out in the international banking netherworld of derivatives risk, this book tears apart the heady instruments of risk management. This no modern financial history for the business-minded; rather, it's a recipe book for pointy-heads who live deep in the nervous system of the global financial system. Taleb explores the differences between European binary options, Asian options and American single binary options, including a case study on "the ravages of time." The book jacket proclaims a text "in plain English," but the book is steeped in jargon and concepts targeted to a reader well familiar with the arcane world of the options market.
Copyright 2002 Reed Business Information, Inc.
Product Description
Destined to become a market classic, Dynamic Hedging is the only practical reference in exotic options hedgingand arbitrage for professional traders and money managers
Watch the professionals. From central banks to brokerages to multinationals, institutional investors are flocking to a new generation of exotic and complex options contracts and derivatives. But the promise of ever larger profits also creates the potential for catastrophic trading losses. Now more than ever, the key to trading derivatives lies in implementing preventive risk management techniques that plan for and avoid these appalling downturns. Unlike other books that offer risk management for corporate treasurers, Dynamic Hedging targets the real-world needs of professional traders and money managers. Written by a leading options trader and derivatives risk advisor to global banks and exchanges, this book provides a practical, real-world methodology for monitoring and managing all the risks associated with portfolio management.
Nassim Nicholas Taleb is the founder of Empirica Capital LLC, a hedge fund operator, and a fellow at the Courant Institute of Mathematical Sciences of New York University. He has held a variety of senior derivative trading positions in New York and London and worked as an independent floor trader in Chicago. Dr. Taleb was inducted in February 2001 in the Derivatives Strategy Hall of Fame. He received an MBA from the Wharton School and a Ph.D. from University Paris-Dauphine.
See all Editorial Reviews
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