Download or read book Trading and Pricing Financial Derivatives written by Patrick Boyle and published by Walter de Gruyter GmbH & Co KG. This book was released on 2018-12-17 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trading and Pricing Financial Derivatives is an introduction to the world of futures, options, and swaps. Investors who are interested in deepening their knowledge of derivatives of all kinds will find this book to be an invaluable resource. The book is also useful in a very applied course on derivative trading. The authors delve into the history of options pricing; simple strategies of options trading; binomial tree valuation; Black-Scholes option valuation; option sensitivities; risk management and interest rate swaps in this immensely informative yet easy to comprehend work. Using their vast working experience in the financial markets at international investment banks and hedge funds since the late 1990s and teaching derivatives and investment courses at the Master's level, Patrick Boyle and Jesse McDougall put forth their knowledge and expertise in clearly explained concepts. This book does not presuppose advanced mathematical knowledge, though it is presented for completeness for those that may benefit from it, and is designed for a general audience, suitable for beginners through to those with intermediate knowledge of the subject.
Download or read book Can t Is Not an Option written by Nikki Haley and published by Penguin. This book was released on 2012-04-03 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the former United States Ambassador to the United Nations, an inspirational memoir of family, hope, and the power of the American Dream. Decades before their daughter surprised the nation by becoming governor of South Carolina, Nikki Haley's parents had a dream. Ajit and Raj Randhawa were well-educated, well-off Sikhs in the Punjab region of India. But despite their high social status, the Randhawas wanted more for their family-the opportunities that only America could offer. So they left behind all they had known and settled in Bamberg, South Carolina (population: 2,500). As the first Indian family in a small Southern town in the early 1970s, the Randhawas faced ignorance, prejudice, and sometimes blatant hostility. Nikki remembers stopping at a roadside produce stand with her father, who always wore his traditional Sikh turban. Within minutes, two police cars pulled to make sure they weren't thieves. But the Randhawas taught their children that they should never think of themselves as victims. They stressed that if you work hard and stay true to yourself, you can overcome any obstacle. The key is believing that can't is not an option. The family struggled to make ends meet while starting a clothing business in their living room, eventually growing it into a multimillion- dollar success. At age twelve, Nikki started to do the bookkeeping and taxes after school. After graduating from college and entering the business world, she watched business owners like her parents battle government bureaucracy and overregulation. Her frustration inspired her to get into politics and run for the state legislature. That first campaign, against an entrenched incumbent, led to racial and religious slurs and threats-but Haley, like her parents, refused to back down. She won on a promise to fight for reform, lean budgets, and government accountability, which is exactly what she did-much to the dismay of South Carolina's old guard politicians. Soon she had a reputation as a conservative leader who could get things done. In the same state where her family was once ridiculed, she inspired a diverse grassroots following. In November 2010 she was elected South Carolina's first female governor and first nonwhite governor, and only the second Indian American governor in the country. Haley's story, as told firsthand in this inspiring memoir, is a testament to the power of determination, faith, and family. And it's proof that the American Dream is still strong and true in the twenty- first century.
Download or read book The Option of Urbanism written by Christopher B. Leinberger and published by Island Press. This book was released on 2010-03-18 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: Americans are voting with their feet to abandon strip malls and suburban sprawl, embracing instead a new type of community where they can live, work, shop, and play within easy walking distance. In The Option of Urbanism visionary developer and strategist Christopher B. Leinberger explains why government policies have tilted the playing field toward one form of development over the last sixty years: the drivable suburb. Rooted in the driving forces of the economy—car manufacturing and the oil industry—this type of growth has fostered the decline of community, contributed to urban decay, increased greenhouse gas emissions, and contributed to the rise in obesity and asthma. Highlighting both the challenges and the opportunities for this type of development, The Option of Urbanism shows how the American Dream is shifting to include cities as well as suburbs and how the financial and real estate communities need to respond to build communities that are more environmentally, socially, and financially sustainable.
Download or read book Binomial Models in Finance written by John van der Hoek and published by Springer Science & Business Media. This book was released on 2006-04-18 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes the modelling of prices of ?nancial assets in a simple d- crete time, discrete state, binomial framework. By avoiding the mathematical technicalitiesofcontinuoustime?nancewehopewehavemadethematerial accessible to a wide audience. Some of the developments and formulae appear here for the ?rst time in book form. We hope our book will appeal to various audiences. These include MBA s- dents,upperlevelundergraduatestudents,beginningdoctoralstudents,qu- titative analysts at a basic level and senior executives who seek material on new developments in ?nance at an accessible level. The basic building block in our book is the one-step binomial model where a known price today can take one of two possible values at a future time, which might, for example, be tomorrow, or next month, or next year. In this simple situation “risk neutral pricing” can be de?ned and the model can be applied to price forward contracts, exchange rate contracts and interest rate derivatives. In a few places we discuss multinomial models to explain the notions of incomplete markets and how pricing can be viewed in such a context, where unique prices are no longer available. The simple one-period framework can then be extended to multi-period m- els.TheCox-Ross-RubinsteinapproximationtotheBlackScholesoptionpr- ing formula is an immediate consequence. American, barrier and exotic - tions can all be discussed and priced using binomial models. More precise modelling issues such as implied volatility trees and implied binomial trees are treated, as well as interest rate models like those due to Ho and Lee; and Black, Derman and Toy.
Download or read book American Put Options written by Donna Salopek and published by CRC Press. This book was released on 1997-03-15 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: An American put option gives its owner the right to sell a share of stock at a given specified price on or before a given date. This book provides a detailed comparison of recent works on the American put option from both theoretical and computational approaches.
Download or read book The Public Option written by Ganesh Sitaraman and published by Harvard University Press. This book was released on 2019-07-01 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: A solution to inequalities wherever we look—in health care, secure retirement, education—is as close as the public library. Or the post office, community pool, or local elementary school. Public options—reasonably priced government-provided services that coexist with private options—are all around us, ready to increase opportunity, expand freedom, and reawaken civic engagement if we will only let them. Whenever you go to your local public library, send mail via the post office, or visit Yosemite, you are taking advantage of a longstanding American tradition: the public option. Some of the most useful and beloved institutions in American life are public options—yet they are seldom celebrated as such. These government-supported opportunities coexist peaceably alongside private options, ensuring equal access and expanding opportunity for all. Ganesh Sitaraman and Anne Alstott challenge decades of received wisdom about the proper role of government and consider the vast improvements that could come from the expansion of public options. Far from illustrating the impossibility of effective government services, as their critics claim, public options hold the potential to transform American civic life, offering a wealth of solutions to seemingly intractable problems, from housing shortages to the escalating cost of health care. Imagine a low-cost, high-quality public option for child care. Or an extension of the excellent Thrift Savings Plan for federal employees to all Americans. Or every person having access to an account at the Federal Reserve Bank, with no fees and no minimums. From broadband internet to higher education, The Public Option reveals smart new ways to meet pressing public needs while spurring healthy competition. More effective than vouchers or tax credits, public options could offer us all fairer choices and greater security.
Download or read book Dynamic Hedging written by Nassim Nicholas Taleb and published by John Wiley & Sons. This book was released on 1997-01-14 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: Destined to become a market classic, Dynamic Hedging is the only practical reference in exotic options hedgingand arbitrage for professional traders and money managers Watch the professionals. From central banks to brokerages to multinationals, institutional investors are flocking to a new generation of exotic and complex options contracts and derivatives. But the promise of ever larger profits also creates the potential for catastrophic trading losses. Now more than ever, the key to trading derivatives lies in implementing preventive risk management techniques that plan for and avoid these appalling downturns. Unlike other books that offer risk management for corporate treasurers, Dynamic Hedging targets the real-world needs of professional traders and money managers. Written by a leading options trader and derivatives risk advisor to global banks and exchanges, this book provides a practical, real-world methodology for monitoring and managing all the risks associated with portfolio management. Nassim Nicholas Taleb is the founder of Empirica Capital LLC, a hedge fund operator, and a fellow at the Courant Institute of Mathematical Sciences of New York University. He has held a variety of senior derivative trading positions in New York and London and worked as an independent floor trader in Chicago. Dr. Taleb was inducted in February 2001 in the Derivatives Strategy Hall of Fame. He received an MBA from the Wharton School and a Ph.D. from University Paris-Dauphine.
Download or read book The Third Option written by Theodore Shackley and published by . This book was released on 1981 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Year by year, nation by nation, the United States has relinquished its ability to control events throughout the world. This abdication of global responsibility has created vast power vacuums. The challenge is unmistakably clear: do we control our own destiny and survival, or do others -- others who mean us no good. Our options in dealing with this dilemma are painfully few. At one end there is negotiation and diplomacy; at the other lies the unthinkable--war. Now Theodore Shackley opens up for thoughtful readers another way, a more flexible use of power--the Third Option. In this, one of the most important books of the coming decade, an outstanding intelligence officer and expert on counterinsurgency offers a long-range strategy for America. In broad strokes he pictures the challenge that faces us in the eighties; then he presents a detailed examination of how counterinsurgency can work to protect our interests in a volatile and rapidly changing world. He discusses the phases of insurgency: the cadre phase, using the El Salvador as a case study; the operational phase, using and the covert war phase, using Angola as a case study. Each of these case studies, a valuable lesson in how intelligence services actually operate, reveals how Soviet-backed insurgencies threaten the security of the free world. The challenges and dangers we face require us to view our national security in terms of the interrelationship of political, economic and military factors--if we intend to remain a great power. The message of this book is that we cannot limit our national security to a strictly military or diplomatic alternative. To achieve our foreign policy objectives and to help friendly nations resist subversion we must turn to the Third Option.
Download or read book PDE and Martingale Methods in Option Pricing written by Andrea Pascucci and published by Springer Science & Business Media. This book was released on 2011-04-15 with total page 727 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers an introduction to the mathematical, probabilistic and numerical methods used in the modern theory of option pricing. The text is designed for readers with a basic mathematical background. The first part contains a presentation of the arbitrage theory in discrete time. In the second part, the theories of stochastic calculus and parabolic PDEs are developed in detail and the classical arbitrage theory is analyzed in a Markovian setting by means of of PDEs techniques. After the martingale representation theorems and the Girsanov theory have been presented, arbitrage pricing is revisited in the martingale theory optics. General tools from PDE and martingale theories are also used in the analysis of volatility modeling. The book also contains an Introduction to Lévy processes and Malliavin calculus. The last part is devoted to the description of the numerical methods used in option pricing: Monte Carlo, binomial trees, finite differences and Fourier transform.
Download or read book Option B written by Sheryl Sandberg and published by Knopf. This book was released on 2017-04-24 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: #1 NEW YORK TIMES BEST SELLER • From authors of Lean In and Originals: a powerful, inspiring, and practical book about building resilience and moving forward after life’s inevitable setbacks After the sudden death of her husband, Sheryl Sandberg felt certain that she and her children would never feel pure joy again. “I was in ‘the void,’” she writes, “a vast emptiness that fills your heart and lungs and restricts your ability to think or even breathe.” Her friend Adam Grant, a psychologist at Wharton, told her there are concrete steps people can take to recover and rebound from life-shattering experiences. We are not born with a fixed amount of resilience. It is a muscle that everyone can build. Option B combines Sheryl’s personal insights with Adam’s eye-opening research on finding strength in the face of adversity. Beginning with the gut-wrenching moment when she finds her husband, Dave Goldberg, collapsed on a gym floor, Sheryl opens up her heart—and her journal—to describe the acute grief and isolation she felt in the wake of his death. But Option B goes beyond Sheryl’s loss to explore how a broad range of people have overcome hardships including illness, job loss, sexual assault, natural disasters, and the violence of war. Their stories reveal the capacity of the human spirit to persevere . . . and to rediscover joy. Resilience comes from deep within us and from support outside us. Even after the most devastating events, it is possible to grow by finding deeper meaning and gaining greater appreciation in our lives. Option B illuminates how to help others in crisis, develop compassion for ourselves, raise strong children, and create resilient families, communities, and workplaces. Many of these lessons can be applied to everyday struggles, allowing us to brave whatever lies ahead. Two weeks after losing her husband, Sheryl was preparing for a father-child activity. “I want Dave,” she cried. Her friend replied, “Option A is not available,” and then promised to help her make the most of Option B. We all live some form of Option B. This book will help us all make the most of it.
Download or read book The Benedict Option written by Rod Dreher and published by Penguin. This book was released on 2017-03-14 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: A NEW YORK TIMES BESTSELLER "Already the most discussed and most important religious book of the decade." —David Brooks In this controversial bestseller, Rod Dreher calls on American Christians to prepare for the coming Dark Age by embracing an ancient Christian way of life. From the inside, American churches have been hollowed out by the departure of young people and by an insipid pseudo–Christianity. From the outside, they are beset by challenges to religious liberty in a rapidly secularizing culture. Keeping Hillary Clinton out of the White House may have bought a brief reprieve from the state’s assault, but it will not stop the West’s slide into decadence and dissolution. Rod Dreher argues that the way forward is actually the way back—all the way to St. Benedict of Nursia. This sixth-century monk, horrified by the moral chaos following Rome’s fall, retreated to the forest and created a new way of life for Christians. He built enduring communities based on principles of order, hospitality, stability, and prayer. His spiritual centers of hope were strongholds of light throughout the Dark Ages, and saved not just Christianity but Western civilization. Today, a new form of barbarism reigns. Many believers are blind to it, and their churches are too weak to resist. Politics offers little help in this spiritual crisis. What is needed is the Benedict Option, a strategy that draws on the authority of Scripture and the wisdom of the ancient church. The goal: to embrace exile from mainstream culture and construct a resilient counterculture. The Benedict Option is both manifesto and rallying cry for Christians who, if they are not to be conquered, must learn how to fight on culture war battlefields like none the West has seen for fifteen hundred years. It's for all mere Christians—Protestant, Catholic, Orthodox—who can read the signs of the times. Neither false optimism nor fatalistic despair will do. Only faith, hope, and love, embodied in a renewed church, can sustain believers in the dark age that has overtaken us. These are the days for building strong arks for the long journey across a sea of night.
Download or read book Python for Finance Cookbook written by Eryk Lewinson and published by Packt Publishing Ltd. This book was released on 2020-01-31 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: Solve common and not-so-common financial problems using Python libraries such as NumPy, SciPy, and pandas Key FeaturesUse powerful Python libraries such as pandas, NumPy, and SciPy to analyze your financial dataExplore unique recipes for financial data analysis and processing with PythonEstimate popular financial models such as CAPM and GARCH using a problem-solution approachBook Description Python is one of the most popular programming languages used in the financial industry, with a huge set of accompanying libraries. In this book, you'll cover different ways of downloading financial data and preparing it for modeling. You'll calculate popular indicators used in technical analysis, such as Bollinger Bands, MACD, RSI, and backtest automatic trading strategies. Next, you'll cover time series analysis and models, such as exponential smoothing, ARIMA, and GARCH (including multivariate specifications), before exploring the popular CAPM and the Fama-French three-factor model. You'll then discover how to optimize asset allocation and use Monte Carlo simulations for tasks such as calculating the price of American options and estimating the Value at Risk (VaR). In later chapters, you'll work through an entire data science project in the financial domain. You'll also learn how to solve the credit card fraud and default problems using advanced classifiers such as random forest, XGBoost, LightGBM, and stacked models. You'll then be able to tune the hyperparameters of the models and handle class imbalance. Finally, you'll focus on learning how to use deep learning (PyTorch) for approaching financial tasks. By the end of this book, you’ll have learned how to effectively analyze financial data using a recipe-based approach. What you will learnDownload and preprocess financial data from different sourcesBacktest the performance of automatic trading strategies in a real-world settingEstimate financial econometrics models in Python and interpret their resultsUse Monte Carlo simulations for a variety of tasks such as derivatives valuation and risk assessmentImprove the performance of financial models with the latest Python librariesApply machine learning and deep learning techniques to solve different financial problemsUnderstand the different approaches used to model financial time series dataWho this book is for This book is for financial analysts, data analysts, and Python developers who want to learn how to implement a broad range of tasks in the finance domain. Data scientists looking to devise intelligent financial strategies to perform efficient financial analysis will also find this book useful. Working knowledge of the Python programming language is mandatory to grasp the concepts covered in the book effectively.
Download or read book Mathematics of Finance written by Donald G. Saari and published by Springer Nature. This book was released on 2019-08-31 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook invites the reader to develop a holistic grounding in mathematical finance, where concepts and intuition play as important a role as powerful mathematical tools. Financial interactions are characterized by a vast amount of data and uncertainty; navigating the inherent dangers and hidden opportunities requires a keen understanding of what techniques to apply and when. By exploring the conceptual foundations of options pricing, the author equips readers to choose their tools with a critical eye and adapt to emerging challenges. Introducing the basics of gambles through realistic scenarios, the text goes on to build the core financial techniques of Puts, Calls, hedging, and arbitrage. Chapters on modeling and probability lead into the centerpiece: the Black–Scholes equation. Omitting the mechanics of solving Black–Scholes itself, the presentation instead focuses on an in-depth analysis of its derivation and solutions. Advanced topics that follow include the Greeks, American options, and embellishments. Throughout, the author presents topics in an engaging conversational style. “Intuition breaks” frequently prompt students to set aside mathematical details and think critically about the relevance of tools in context. Mathematics of Finance is ideal for undergraduates from a variety of backgrounds, including mathematics, economics, statistics, data science, and computer science. Students should have experience with the standard calculus sequence, as well as a familiarity with differential equations and probability. No financial expertise is assumed of student or instructor; in fact, the text’s deep connection to mathematical ideas makes it suitable for a math capstone course. A complete set of the author’s lecture videos is available on YouTube, providing a comprehensive supplementary resource for a course or independent study.
Download or read book The Fitted Finite Volume and Power Penalty Methods for Option Pricing written by Song Wang and published by Springer Nature. This book was released on 2020-10-27 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains mostly the author’s up-to-date research results in the area. Option pricing has attracted much attention in the past decade from applied mathematicians, statisticians, practitioners and educators. Many partial differential equation-based theoretical models have been developed for valuing various options. These models do not have any practical use unless their solutions can be found. However, most of these models are far too complex to solve analytically and numerical approximations have to be sought in practice. The contents of the book consist of three parts: (i) basic theory of stochastic control and formulation of various option pricing models, (ii) design of finite volume, finite difference and penalty-based algorithms for solving the models and (iii) stability and convergence analysis of the algorithms. It also contains extensive numerical experiments demonstrating how these algorithms perform for practical problems. The theoretical and numerical results demonstrate these algorithms provide efficient, accurate and easy-to-implement numerical tools for financial engineers to price options. This book is appealing to researchers in financial engineering, optimal control and operations research. Financial engineers and practitioners will also find the book helpful in practice.
Download or read book Budget options written by United States. Congressional Budget Office and published by . This book was released on 1977 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Samson Option written by Seymour M. Hersh and published by Random House (NY). This book was released on 1991 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exposes one of the most well-protected political-military secrets of the Cold War.
Download or read book Market Consistent Prices written by Pablo Koch-Medina and published by Springer Nature. This book was released on 2020-07-16 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arbitrage Theory provides the foundation for the pricing of financial derivatives and has become indispensable in both financial theory and financial practice. This textbook offers a rigorous and comprehensive introduction to the mathematics of arbitrage pricing in a discrete-time, finite-state economy in which a finite number of securities are traded. In a first step, various versions of the Fundamental Theorem of Asset Pricing, i.e., characterizations of when a market does not admit arbitrage opportunities, are proved. The book then focuses on incomplete markets where the main concern is to obtain a precise description of the set of “market-consistent” prices for nontraded financial contracts, i.e. the set of prices at which such contracts could be transacted between rational agents. Both European-type and American-type contracts are considered. A distinguishing feature of this book is its emphasis on market-consistent prices and a systematic description of pricing rules, also at intermediate dates. The benefits of this approach are most evident in the treatment of American options, which is novel in terms of both the presentation and the scope, while also presenting new results. The focus on discrete-time, finite-state models makes it possible to cover all relevant topics while requiring only a moderate mathematical background on the part of the reader. The book will appeal to mathematical finance and financial economics students seeking an elementary but rigorous introduction to the subject; mathematics and physics students looking for an opportunity to get acquainted with a modern applied topic; and mathematicians, physicists and quantitatively inclined economists working or planning to work in the financial industry.
