All About Derivatives

All About Derivatives

Book - 2011
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EVERYTHING YOU NEED TO KNOW ABOUT DERIVATIVES

All About Derivatives , Second Edition, presents the complex subject of financial derivatives with a clarity and coherence you won't find in other books. Using real-world examples and simple language, it lucidly illustrates what derivatives are and why they are so powerful. This second edition of All About Derivatives provides a rock-solid foundation on:

The most common contracts available to you in today's market Key concepts such as cost of carry, settlement, valuation, and payoff Proven methods for establishing fair value How leverage can work for you--and against you The various derivative contracts traded today, including forwards, futures, swaps, and options Pricing methods and mathematics for determining fair value Hedging strategies for managing and reducing different types of risk

INCLUDES A BRAND-NEW CHAPTER ON THE ROLEDERIVATIVES PLAYED IN THE 2008 FINANCIAL MELTDOWN

Publisher: New York : McGraw-Hill, c2011.
Edition: Fully rev. 2nd ed.
ISBN: 9780071743518
0071743510
Branch Call Number: 332.6457 Durbin
Characteristics: 272 p. : ill. ; 23 cm.

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StarGladiator
Aug 06, 2013

This is a short, and extremely well written book on derivatives, the author explaining them in a most clear and lucid fashion. Durbin is unique in that he does explain the very crucial mechanics of the economic meltdown, just backing away, or fudging, as to the sole importance which credit derivatives played in the event. Durbin cogently explains what credit default swaps are, and how they were utilized - - but what he doesn't say, is that when trillions of dollars worth of CDSes are sold, with the possible to probably payout of hundreds of trillions of dollars, far exceeding the Global GDP, you have a gargantuan financial fraud/insurance swindles of epic proportions! Just three instances, among countless many: AIG's selling $460 billion worth of naked swaps with the potential payout of from $20 trillion to $40 trillion, $2 trillion of swaps sold against Bear Stearns' outstanding external debt of $190 billion, with the potential payout of $200 trillion, and then there are those deals by John Paulson & Goldman Sachs (the Abacus CDO) and all those crappy deals by the principals of Magnetar Capital, who walked away with a fortune, all because they purchased CDSes against the cruddy CDOs they knowingly created themselves! And they were just three independent purchasers among thousands (or millions? ? ?). When it is "rigged speculation" it isn't specualtion, but financial fraud of the first order. (Portoy's "F.I.A.S.C.O." book provides the beginning years of credit derivatives in the 1990s, Satyajit Das' "Extreme Money" explains the vast mechanics of it, Nicholas Dunbar's "The Devil's Derivatives for the timeline and players, and Durbin's book explains some basic financial points.)

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