Quantitative Risk Management: A Practical Guide to Financial Risk: 669 (Wiley Finance) - Hardcover

Coleman, Thomas S.

Hardcover

ISBN 10: 1118026586 ISBN 13: 9781118026588

Verlag: Wiley, 2012

Inhaltsangabe

State of the art risk management techniques and practices―supplemented with interactive analytics

All too often risk management books focus on risk measurement details without taking a broader view. Quantitative Risk Management delivers a synthesis of common sense management together with the cutting-edge tools of modern theory. This book presents a road map for tactical and strategic decision making designed to control risk and capitalize on opportunities. Most provocatively it challenges the conventional wisdom that "risk management" is or ever should be delegated to a separate department. Good managers have always known that managing risk is central to a financial firm and must be the responsibility of anyone who contributes to the profit of the firm.

A guide to risk management for financial firms and managers in the post-crisis world, Quantitative Risk Management updates the techniques and tools used to measure and monitor risk. These are often mathematical and specialized, but the ideas are simple. The book starts with how we think about risk and uncertainty, then turns to a practical explanation of how risk is measured in today's complex financial markets.

• Covers everything from risk measures, probability, and regulatory issues to portfolio risk analytics and reporting
• Includes interactive graphs and computer code for portfolio risk and analytics
• Explains why tactical and strategic decisions must be made at every level of the firm and portfolio

Providing the models, tools, and techniques firms need to build the best risk management practices, Quantitative Risk Management is an essential volume from an experienced manager and quantitative analyst.

Über diesen Titel

Über die Autorin bzw. den Autor

THOMAS S. COLEMAN has worked in the finance industry for more than twenty years and has considerable experience in trading, risk management, and quantitative modeling. Mr. Coleman currently manages a risk advisory consulting firm. He is the author, together with Roger Ibbotson and Larry Fisher, of Historical U.S. Treasury Yield Curves.

Von der hinteren Coverseite

State-of-the-art risk management techniques and practices forunderstanding, assessing, and responding to risk in financialfirms

"The title says it all. This really is 'A Practical Guide toRisk Management.' It is an enjoyable read for almost anyone in theinvestment field, while still providing lots of insights to riskprofessionals. A very well-written book!" —Roger G. Ibbotson,Chairman & CIO, Zebra Capital Management; Professor in Practiceof Finance, Yale School of Management

"By combining solid probabilistic foundations with a relentlessfocus on real practitioner issues, Coleman has produced aninvaluable reference for experienced risk managers and traders andalso an introductory text for those new to the field." —AndrewMorton, Global Head of G10 Rates, Citigroup; co-originator of theHeath-Jarrow-Morton interest rate model

"Very clear and easy to understand, concrete and matter-of-fact.It is a rare effort to make difficult subjects understandable whileremaining true to the technical and professional foundations."—Cyril Le Touzé, Chief Risk Officer, CréditMutuel–CIC Group

Aus dem Klappentext

Risk is at the core of any financial business. QuantitativeRisk Management introduces the technical and managerial toolsyou need to assess and respond to risk. This comprehensive volumeputs risk management in the hands of those on the front linesresponsible for managing firms and their profits, and also providesreaders access to a website that offers practical guidance forusing the techniques discussed in the text.

In recent years, risk tools and techniques have grownincreasingly mathematical and technical. Yet risk management ismuch more than just numbers and must be placed in the context ofthe broader goals of managing people, processes, and institutions.Author and risk expert Thomas Coleman reconciles the mathematicaland managerial elements of the field in a way that all financialprofessionals can understand.

Understanding risk requires thinking carefully aboutuncertainty. Unfortunately, as humans we are often bad at doing so.Coleman introduces basic concepts in probability, focusingparticularly on paradoxes and conundrums that highlight the errorsand fallacies we can easily fall into in order to point you towardsa deeper appreciation of how to think about, and manage,uncertainty.

Of course, risk management requires knowledge and appreciationof technical tools. This book details the techniques and formulasused to calculate risk, covering both fundamentals and advancedtopics in a clear, accessible way. Coleman introduces and explainsquantitative tools including volatility, VaR, contribution to risk,best hedges, and many others.

Beyond the numbers, Coleman takes you through issues such asmanaging people, data and IT, and infrastructure. In the end, riskmanagement is about building a culture and organization that canrespond to risk and withstand unanticipated events.

Innovative, wide-ranging in scope, and bringing the essentialsof managing risk to life, Quantitative Risk Managementuniquely combines the models, tools, and techniques that anyoneworking in the financial field must understand to build better,safer risk management practices.

Details zur Ausgabe

• Verlag: Wiley
• Erscheinungsdatum: 2012
• Sprache: Englisch
• ISBN 10: 1118026586
• ISBN 13: 9781118026588
• Einband: Tapa dura
• Auflage: 1
• Anzahl der Seiten: 578
• Kontakt zum Hersteller: Nicht verfügbar