TAILIEUCHUNG - Ebook Financial risk management (2nd edition): Part 2

(BQ) Part 2 book "Financial risk management" has contents: Managing spot risk, managing forward risk, managing vanilla options risk, managing exotic options risk, credit risk, counterparty credit risk. | CHAPTER 9 Managing Spot Risk Spot trades are trades that involve an immediate exchange. This includes trades such as purchases of stock, purchases of gold, and exchanges of one currency for another. It excludes trades that involve a promise to deliver at some future time. Most of our study of risk involves future promises to deliver —unconditional promises constitute forward transactions, and promises whose payments are predicated on some future condition constitute options transactions. The mathematical modeling and risk management of forwards and options are far more complex than the corresponding elements of spot transactions, and far more space in this book is devoted to forwards and options than to spot positions. However, positions in spot trades often constitute the largest portion of a firm's risk. Spot transactions are also the fundamental building blocks for valuing and risk managing forward and option positions. We can find the present value equivalent of a set of forward cash flows or the delta equivalent of an options position, but we then need to be able to value and risk manage these resulting spot positions. So a brief survey of the management of spot risk is in order. OVERVIEW All instruments traded by financial firms are commodities in the sense of not being individually identifiable. (If I borrow—that is, rent—a house from you, you expect me to return that exact same house, so houses are not a commodity; this is not true for dollar bills, bars of gold, barrels of oil, shares of IBM stock, specified amounts of a given bond, and so on.) This commodity feature means that traders are free to sell before they buy, since they can always borrow the instrument in order to make delivery. In this way, financial markets are more symmetrical than noncommodity markets such as houses, where you must build up an inventory by buying before you can sell. Commodities can be divided into physical commodities, such as gold and oil, and financial commodities, .

• Ngân hàng - Tín dụng
• Financial risk management
• Managing spot risk
• Managing forward risk
• Managing vanilla options risk
• Managing exotic options risk
• Credit risk
• Financial risk manager
• Financial risk
• Financial manager
• Market risk management
• Credit risk management
• Integrated risk management
• Investment risk management
• Financial Risk Management FRM book 1
• Risk Management Lecture
• Foundations of Risk Management
• Risk defining risk
• Financial Markets and Products
• Valuation and Risk Models
• Financial Markets and Products book 3
• Valuation and Risk Models book 4
• Risk management
• Lecture Risk management
• Financial institutions
• Classification of risk
• Benefits of risk management
• Risk management process
• Financial operations of insurers
• Financial operations
• Statistics mathematics
• Financial mathematics
• Vector spaces
• Linear regression analysis
• Some basic math
• Basic statistics
• Quantitative Analysis book 2
• Enterprise risk management
• Insurance market dynamics
• Personal financial planning
• Personal financial
• Lecture Personal financial planning
• Financial planning
• Institutional background
• Operational risk
• Financial disasters
• The systemic disaster
• Managing financial risk
• Model risk
• Multinational financial management
• Financial management
• Lecture Multinational financial management
• Measuring country risk
• Foreign investment risk matrix
• Country risk analysis
• Managing interest rate risk
• Financial risks management
• Lecture Financial risks management
• Quản trị rủi ro
• Quản trị rủi ro tài chính
• Probability distribution
• Application in risk management