Warenkorb
€ 0,00 0 Buch dabei,
portofrei
Derivatives the Wild Beast of Finance als Buch
PORTO-
FREI

Derivatives the Wild Beast of Finance

A Path to Effective Globalisation. 2:B&W 6 x 9 in or 229 x 152 mm Perfect Bound on Creme w/Gloss Lam. Sprache:…
Buch (kartoniert)
This new paperback edition of the successful 1998 cloth edition proves the soundness of many of Dr. Steinherr's earlier predictions as well as his alternative view of the role of derivatives in the world economy. Often regarded as the villain behind … weiterlesen
Buch

67,49*

inkl. MwSt.
Portofrei
Lieferbar innerhalb von zwei bis drei Werktagen
Derivatives the Wild Beast of Finance als Buch

Produktdetails

Titel: Derivatives the Wild Beast of Finance
Autor/en: Alfred Steinherred

ISBN: 047182240X
EAN: 9780471822400
A Path to Effective Globalisation.
2:B&W 6 x 9 in or 229 x 152 mm Perfect Bound on Creme w/Gloss Lam.
Sprache: Englisch.
John Wiley & Sons

17. Mai 2000 - kartoniert - 332 Seiten

Beschreibung

In den letzten 20 Jahren ist der Derivatehandel regelrecht explodiert. Die Struktur dieser Finanzprodukte wird jedoch zunehmend komplexer; die Beträge werden immer höher. Derivate wurden häufig als die großen Übeltäter identifiziert, die für viele der wohl bekanntesten Finanzkatastrophen, einschließlich der Barings Bank- und ERM Krise, verantwortlich waren. Dies ist die neue, komplett überarbeitete und aktualisierte Broschurausgabe von "Derivatives: The Wild Beast of Finance". Der Inhalt wurde komprimiert und um einige der komplexeren Themen gekürzt. Dadurch wurde diese Ausgabe für Anleger und Finanzinteressierte verständlicher. Steinherr vertritt hier die Ansicht, daß Derivate - wenn man umsichtig vorgeht - ein wirksames und durchaus akzeptables Anlagemittel sind. Darüber hinaus sind sie ideal geeignet, um effektives Risikomanagement in globalen Märkten zu gewährleisten und mögliche Finanzkatastrophen einzudämmen.

Inhaltsverzeichnis

Preface to the Revised Paperback Edition

Introduction

Part I A Look Back

1 Evolution of Finance

Venice, April 1470

1 The functions of finance

2 The first step towards managing financial risk: diversification and collateral

3 The second step towards managing financial risk: limited liability, bankruptcy laws, seniority rules, balance-sheet structure

4 The third step towards managing financial risk: creating tradable instruments and liquidity in organised markets

5 The final step towards managing financial risk: derivatives and financial engineering

6 Could the acceleration in financial innovation since 1970 have been predicted?

7 Conclusion

Notes

2 The Americanisation of Global Finance

Minnesota Banc Corporation

1 The emergence of the American model of finance

2 The crowning achievement: risk-management finance

3 Maintaining market liquidity: the sine qua non of the "American model"

4 Global finance: the result of exporting the "American model"

5 Conclusion

Notes

3 Dramatic Events

How George Soros sees it

1 The EMS crisis of 1992-93

2 Metallgesellschaft: in the red or in the black?

3 Barings: victim of high-leveraged speculation and loose controls

4 Bankers Trust: caveat emptor

5 David Askin: the fallen star of the mortgage-backed securities sky

6 Instability in emerging markets: Mexican tequila

7 Hedge funds and the collapse of LTCM

8 Conclusion

Notes

Part II Derivatives and Their Markets

4 The Revolution in Risk Management

Farming for the future

1 What can derivatives achieve?

2 Price discovery and volatility

3 Is risk management a fundamental corporate objective?

4 Risk management: science or fad?

5 Risk management: some examples

6 Conclusion

Notes

5 Mutualisation of Risk on Exchanges

Chicago's other side

1 Evolution of exchange-traded financial derivatives

2 Organisation of the exchanges

3 What makes a successful exchange-traded contract?

4 New product developments on the exchanges

5 Exchanges for a global market

6 Conclusion

Notes

6 Customised Risk Management in OTC Markets

How to lose money on a long put when markets crash

1 Market developments

2 Significant bank involvement

3 Contagion risk

4 Regulatory inadequacies for the specificities of OTC markets

5 New developments

6 Conclusion

Notes

Part III Public Policy Options

7 Are Derivatives a Threat to Global Financial Stability?

The global financial crash of October 2002

1 Systemic risk illustrated with the crises in Asia and Russia

2 Derivatives: the dynamite for financial crises

3 Global derivative finance: the fuse for contagion

4 Conclusion

Notes

8 Challenges for the Established Financial Order

The butterflies of finance

1 The classical paradigm of financial policy

2 Paradise lost

3 Reducing systemic risk: the Basle approach

4 Conclusion

Notes

9 A Financial Policy Model for the Next Century

The challenge of global money

1 Reform of the international financial system

2 The architecture for regulatory rethinking

3 Risk management through clearing-houses

4 Phasing out the banking franchise and institutional regulation

5 Redefining the relationship between central banks and financial intermediaries

6 Conclusion

Notes

Part IV A Look into the Future

10 Derivatives: the Future of Finance

Antofagasta (Chile), summer of 2020

1 The ascent of institutional investors

2 Ownership and corporate governance

3 Macro futures

4 Real estate futures

5 The end of banking?

6 Conclusion

Notes

11 Conclusions

1 The origin of the species

2 OTC versus exchange-traded contracts

3 Americanisation of global finance

4 Risk management: one of the most important innovations of the 20th century

5 Work of the devil or social benefit?

6 Financial structure in the 21st century

7 Shifts of power

8 Crystal ball gazing

Glossary

References

Index

Portrait

Alfred Steinherr is General Manager at the European Investment Bank in Luxembourg. He was responsible for the development of the Bank's risk-management and performance systems and for the design of risk hedging. He held previous positions as professor of international economics and finance at Catholic University of Louvain, Belgium, at various banks, the International Monetary Fund in Washington and the European Commission in Brussels. He was trained in economics and mathematics both in Switzerland and the United States.

Pressestimmen

"This book is a stimulating read with an excellent overview of risk in banking. It can be recommended to anyone who is interested in banking, derivatives and the regulation of the financial sector." -- Times Higher Educational Supplement, 17th November 2000
Servicehotline
089 - 70 80 99 47

Mo. - Fr. 8.00 - 20.00 Uhr
Sa. 10.00 - 20.00 Uhr
Filialhotline
089 - 30 75 75 75

Mo. - Sa. 9.00 - 20.00 Uhr
Bleiben Sie in Kontakt:
Sicher & bequem bezahlen:
akzeptierte Zahlungsarten: Überweisung, offene Rechnung,
Visa, Master Card, American Express, Paypal
Zustellung durch:
* Alle Preise verstehen sich inkl. der gesetzlichen MwSt. Informationen über den Versand und anfallende Versandkosten finden Sie hier.
** Deutschsprachige eBooks und Bücher dürfen aufgrund der in Deutschland geltenden Buchpreisbindung und/oder Vorgaben von Verlagen nicht rabattiert werden. Soweit von uns deutschsprachige eBooks und Bücher günstiger angezeigt werden, wurde bei diesen kürzlich von den Verlagen der Preis gesenkt oder die Buchpreisbindung wurde für diese Titel inzwischen aufgehoben. Angaben zu Preisnachlässen beziehen sich auf den dargestellten Vergleichspreis.