Download or read book Bubble Value at Risk written by Max C. Y. Wong and published by John Wiley & Sons. This book was released on 2013-04-09 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduces a powerful new approach to financial risk modeling with proven strategies for its real-world applications The 2008 credit crisis did much to debunk the much touted powers of Value at Risk (VaR) as a risk metric. Unlike most authors on VaR who focus on what it can do, in this book the author looks at what it cannot. In clear, accessible prose, finance practitioners, Max Wong, describes the VaR measure and what it was meant to do, then explores its various failures in the real world of crisis risk management. More importantly, he lays out a revolutionary new method of measuring risks, Bubble Value at Risk, that is countercyclical and offers a well-tested buffer against market crashes. Describes Bubble VaR, a more macro-prudential risk measure proven to avoid the limitations of VaR and by providing a more accurate risk exposure estimation over market cycles Makes a strong case that analysts and risk managers need to unlearn our existing "science" of risk measurement and discover more robust approaches to calculating risk capital Illustrates every key concept or formula with an abundance of practical, numerical examples, most of them provided in interactive Excel spreadsheets Features numerous real-world applications, throughout, based on the author’s firsthand experience as a veteran financial risk analyst

Download or read book Bubble Value at Risk written by Max C. Y. Wong and published by John Wiley & Sons. This book was released on 2013-01-30 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduces a powerful new approach to financial risk modeling with proven strategies for its real-world applications The 2008 credit crisis did much to debunk the much touted powers of Value at Risk (VaR) as a risk metric. Unlike most authors on VaR who focus on what it can do, in this book the author looks at what it cannot. In clear, accessible prose, finance practitioners, Max Wong, describes the VaR measure and what it was meant to do, then explores its various failures in the real world of crisis risk management. More importantly, he lays out a revolutionary new method of measuring risks, Bubble Value at Risk, that is countercyclical and offers a well-tested buffer against market crashes. Describes Bubble VaR, a more macro-prudential risk measure proven to avoid the limitations of VaR and by providing a more accurate risk exposure estimation over market cycles Makes a strong case that analysts and risk managers need to unlearn our existing "science" of risk measurement and discover more robust approaches to calculating risk capital Illustrates every key concept or formula with an abundance of practical, numerical examples, most of them provided in interactive Excel spreadsheets Features numerous real-world applications, throughout, based on the author’s firsthand experience as a veteran financial risk analyst

Download or read book Bubble Value at Risk written by Max C. Y. Wong and published by Immanuel Consulting Pte. Limited. This book was released on 2011 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most risk management books introduce Value at Risk (VaR) by focusing on what it can do and its statistical measurements. The credit crisis in 2008 was a tidal wave that debunked this well-established risk metric. In this book, the author introduces VaR by looking at its failures instead and explores possible alternatives for effective crisis risk management, including a new method of measuring risks called bubble value at risk that is countercyclical and can potentially buffer against market crashes.The frequentist-statistics-based VaR is predictive during normal circumstances but often fails patently during rare crisis episodes. In reality, crisis periods span only a tiny portion of financial market history. By relying on VaR for crisis risk management, we are using a tried and tested tool for the wrong occasion-we mistake the tree for the forest. The book argues that we need to unlearn our existing "science" of risk measurement and discover more robust ways to manage risks and to calculate risk capital.The book illustrates virtually every key concept or formula with a practical, numerical example, many of which are contained in interactive Excel spreadsheets. All worked out examples/ case studies spreadsheets are downloadable from the companion website: www.bubble-value-at-risk.com

Download or read book Bubble Value at Risk written by Max Chan Yue Wong and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book An Introduction to Value at Risk written by Moorad Choudhry and published by John Wiley & Sons. This book was released on 2013-05-13 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The value-at-risk measurement methodology is a widely-used tool in financial market risk management. The fifth edition of Professor Moorad Choudhry’s benchmark reference text An Introduction to Value-at-Risk offers an accessible and reader-friendly look at the concept of VaR and its different estimation methods, and is aimed specifically at newcomers to the market or those unfamiliar with modern risk management practices. The author capitalises on his experience in the financial markets to present this concise yet in-depth coverage of VaR, set in the context of risk management as a whole. Topics covered include: Defining value-at-risk Variance-covariance methodology Portfolio VaR Credit risk and credit VaR Stressed VaR Critique and VaR during crisis Topics are illustrated with Bloomberg screens, worked examples and exercises. Related issues such as statistics, volatility and correlation are also introduced as necessary background for students and practitioners. This is essential reading for all those who require an introduction to financial market risk management and risk measurement techniques. Foreword by Carol Alexander, Professor of Finance, University of Sussex.

Download or read book Security in the Cyber Age written by Derek S. Reveron and published by Cambridge University Press. This book was released on 2023-11-16 with total page 413 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cyberspace is essential for socializing, learning, shopping, and just about everything in modern life. Yet, there is also a dark side to cyberspace: sub-national, transnational, and international actors are challenging the ability of sovereign governments to provide a secure environment for their citizens. Criminal groups hold businesses and local governments hostage through ransomware, foreign intelligence services steal intellectual property and conduct influence operations, governments attempt to rewrite Internet protocols to facilitate censorship, and militaries prepare to use cyberspace operations in wars. Security in the Cyber Age breaks-down how cyberspace works, analyzes how state and non-state actors exploit vulnerabilities in cyberspace, and provides ways to improve cybersecurity. Written by a computer scientist and national security scholar-practitioner, the book offers technological, policy, and ethical ways to protect cyberspace. Its interdisciplinary approach and engaging style make the book accessible to the lay audience as well as computer science and political science students.

Download or read book Asian Financial Integration written by Yiping Huang and published by Routledge. This book was released on 2014-03-05 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the global financial crisis, Asia is leading the global recovery with strong economic growth. However, this book argues that, in the coming years, the region will need to play a much more active role in shaping the future global financial system and, in turn, suggests policy strategies for doing so. Asian Financial Integration explores the lessons we can learn from Asia’s experience during the global financial crisis in terms of the future direction of the region’s economic policy and the challenges posed by the opening and deepening of its financial markets. The contributors deal with a number of crucial questions, including what Asia should learn from the crisis, especially with regards to financial innovation and regulation; whether global imbalances are a result of policy distortions or a natural outcome of global division of labour; what are the lessons and implications from the financial market reform and liberalization experiences of some of the region’s major economies; and what should Asia do to promote regional financial integration, particularly with regards to currency integration. This book will be welcomed by students and scholars interested in Asian economics and international economics, as well as by policy-makers working in the field.

Download or read book The Great Housing Bubble written by Lawrence Roberts and published by Monterey Cypress LLC. This book was released on 2008 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: A detailed analysis of the psychological and mechanical causes of the biggest rally, and subsequent fall, of housing prices ever recorded. Examines the causes of the breathtaking rise in prices and the catastrophic fall that ensued to answer the question on every homeowner's mind: "Why did house prices fall?"--Page 4 of cover

Download or read book Bubbles and Crashes in Experimental Asset Markets written by Stefan Palan and published by Springer Science & Business Media. This book was released on 2009-10-03 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes a laboratory experiment designed to test the causes and properties of bubbles in financial markets and explores the question whether it is possible to design markets which avoid such bubbles and crashes. In the experiment, subjects were given the opportunity to trade in a stock market modeled after the seminal work of Smith et al. (1988). To account for the increasing importance of online betting sites, subjects were also allowed to trade in a digital option market. The outcomes shed new light on how subjects form and update their expectations, placing special emphasis on the bounded rationality of investors. Various analytical bubble measures found in the literature are collected, calculated, classified and presented for the first time. The very interesting new bubble measures "Dispersion Ratio", "Overpriced Transactions" and "Underpriced Transactions" are developed, making the book an important step towards the research goal of preventing bubbles and crashes in financial markets.

Download or read book Asset Price Bubbles written by William Curt Hunter and published by MIT Press. This book was released on 2005 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt: A study of asset price bubbles and the implications for preventing financial instability.

Download or read book The Principles of Banking written by Moorad Choudhry and published by John Wiley & Sons. This book was released on 2012-06-13 with total page 912 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ultimate guide for bank management: how to survive and thrive throughout the business cycle An essential guide for bankers and students of finance everywhere, The Principles of Banking reiterates that the primary requirement of banking—sound capital and liquidity risk management—had been forgotten in the years prior to the financial crash. Serving as a policy guide for market practitioners and regulators at all levels, the book explains the keys to success that bankers need to follow during good times in order to be prepared for the bad, providing in-depth guidance and technical analysis of exactly what constitutes good banking practice. Accessible to professionals and students alike, The Principles of Banking covers issues of practical importance to bank practitioners, including asset-liability management, liquidity risk, internal transfer pricing, capital management, stress testing, and more. With an emphasis on viewing business cycles as patterns of stable and stressful market behavior, and rich with worked examples illustrating the key principles of bank asset-liability management, the book is an essential policy guide for today and tomorrow. It also offers readers access to an accompanying website holding policy templates and teaching aids. Illustrates how unsound banking practices that were evident in previous bank crashes were repeated during the creation of the 2007-2008 financial market crisis Provides a template that can be used to create a sound liquidity and asset-liability management framework at any bank An essential resource for the international banking community as it seeks to re-establish its credibility, as well as for students of finance Explains the original principles of banking, including sound lending policy and liquidity management, and why these need to be restated in order to avoid another bank crisis at the time of the next economic recession Covers topics of particular importance to students and academia, many of which are marginally—if ever—addressed in current text books on finance Offers readers access to a companion website featuring invaluable learning and teaching aids Written by a banking practitioner with extensive professional and teaching experience in the field, The Principles of Banking explains exactly how to get back to basics in risk management in the banking community, essential if we are to maintain a sustainable banking industry. “engaging and interesting and, more importantly, easily understood, allowing a clear picture to emerge of how the principle or concept under discussion is to be applied in the real world.” - Graeme Wolvaardt, Head of Market & Liquidity Risk Control, Europe Arab Bank Plc

Download or read book A Wealth of Common Sense written by Ben Carlson and published by John Wiley & Sons. This book was released on 2015-06-22 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: A simple guide to a smarter strategy for the individual investor A Wealth of Common Sense sheds a refreshing light on investing, and shows you how a simplicity-based framework can lead to better investment decisions. The financial market is a complex system, but that doesn't mean it requires a complex strategy; in fact, this false premise is the driving force behind many investors' market "mistakes." Information is important, but understanding and perspective are the keys to better decision-making. This book describes the proper way to view the markets and your portfolio, and show you the simple strategies that make investing more profitable, less confusing, and less time-consuming. Without the burden of short-term performance benchmarks, individual investors have the advantage of focusing on the long view, and the freedom to construct the kind of portfolio that will serve their investment goals best. This book proves how complex strategies essentially waste these advantages, and provides an alternative game plan for those ready to simplify. Complexity is often used as a mechanism for talking investors into unnecessary purchases, when all most need is a deeper understanding of conventional options. This book explains which issues you actually should pay attention to, and which ones are simply used for an illusion of intelligence and control. Keep up with—or beat—professional money managers Exploit stock market volatility to your utmost advantage Learn where advisors and consultants fit into smart strategy Build a portfolio that makes sense for your particular situation You don't have to outsmart the market if you can simply outperform it. Cut through the confusion and noise and focus on what actually matters. A Wealth of Common Sense clears the air, and gives you the insight you need to become a smarter, more successful investor.

Download or read book The Anti Bubbles written by Diego Parrilla and published by Business Expert Press. This book was released on 2017-08-16 with total page 121 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Anti-Bubbles is a contrarian framework that challenges the status quo and complacency of Global Markets towards the false belief/misconception that central banks and governments are infallible and in full control. A forward-looking analysis of the opportunities, risks, and unintended consequences associated with testing the limits of monetary policy, testing the limits of credit markets, and testing the limits of fiat currencies. This book presents both sides of the story, including Larry Summer’s “prudent imprudence for fiscal expansion”, George Soros’ “reflexivity theory applied to monetary policy”, Mohamed El-Erian ́s “T-juction and diplomatic neutrality”, along the “Lehman Squared” and “Gold ́s Perfect Storm” investment theses, and coins innovative ideas such as “anti-bubbles”, “the acronyms”, or “monetary supercycle”, which join a series of innovative concepts such as “The Flattening of the Energy World”, “The Energy Broadband”, or “The Battle for Supply”, from Diego ́s first book.

Download or read book The SAGE Handbook of Corporate Governance written by Thomas Clarke and published by SAGE. This book was released on 2012-04-16 with total page 681 pages. Available in PDF, EPUB and Kindle. Book excerpt: The urgent and sustained interest in corporate governance is unprecedented, with the connections between corporate governance and economic performance being emphasized by the World Bank, the IMF and others in the global economic community. In this timely and definitive intellectual analysis of a key discipline, The SAGE Handbook of Corporate Governance offers a critical overview of the key themes, theoretical controversies, current research and emerging concepts that frame the field. Consisting of original substantive chapters by leading international scholars, and examining corporate governance from an inter-disciplinary basis, the text highlights how governance issues are critical to the formation, growth, financing, structural development, and strategic direction of companies and how corporate governance institutions in turn influence the innovation and development of industrial and economic systems globally. Comprehensive, authoritative and presented in a highly-accessible framework, this Handbook is a significant resource to those with an interest in understanding this important emerging field.

Download or read book Beyond the Bubble written by Michael Thomsett and published by AMACOM. This book was released on 2007-02-14 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: We’ve all heard the reports -- the great housing boom that has fueled premium prices and sellers’ dreams is slowing down. The real estate market may experience ups and downs like any other, but it’s not likely to implode spontaneously. With proper planning and a little knowledge, homeowners, investors, and other stakeholders can avoid disaster and in fact profit on their properties regardless of what the market does. Beyond the Bubble takes a balanced look at what drives changes in real estate markets and how these changes affect property owners and investors. Readers will learn: * the history, nature, and dynamics of market ‘bubbles’ * how to anticipate a coming downturn and act accordingly * the regional nature of real estate market conditions * differences and similarities in residential and commercial markets * other profit strategies when selling is difficult or impossible * how to analyze the market using facts, not hype. Thorough and well-reasoned, Beyond the Bubble will help property owners maintain a strong and level foundation for their financial futures.

Download or read book Toward a Metatheory of Economic Bubbles Socio Political and Cultural Perspectives written by N. Dholakia and published by Springer. This book was released on 2014-02-24 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: Historically, bubbles have been understood primarily in financial-economic terms. In this exciting new work, Dholakia and Turcan argue that bubbles are also a socio-political and cultural phenomena, with intense and accelerating interactions of engineered hype and feverish expectations.

Download or read book Paris Princeton Lectures on Mathematical Finance 2013 written by Fred Espen Benth and published by Springer. This book was released on 2013-07-11 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current volume presents four chapters touching on some of the most important and modern areas of research in Mathematical Finance: asset price bubbles (by Philip Protter); energy markets (by Fred Espen Benth); investment under transaction costs (by Paolo Guasoni and Johannes Muhle-Karbe); and numerical methods for solving stochastic equations (by Dan Crisan, K. Manolarakis and C. Nee).The Paris-Princeton Lecture Notes on Mathematical Finance, of which this is the fifth volume, publish cutting-edge research in self-contained, expository articles from renowned specialists. The aim is to produce a series of articles that can serve as an introductory reference source for research in the field.