Download or read book Plight of the Fortune Tellers written by Riccardo Rebonato and published by Princeton University Press. This book was released on 2007-09-17 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today's top financial-risk professionals have come to rely on ever-more sophisticated mathematics in their attempts to come to grips with financial risk. But this excessive reliance on quantitative precision is misleading--and it puts us all at risk. This is the case that Riccardo Rebonato makes in Plight of the Fortune Tellers--and coming from someone who is both an experienced market professional and an academic, this heresy is worth listening to. Rebonato forcefully argues that we must restore genuine decision making to our financial planning, and he shows us how to do it using probability, experimental psychology, and decision theory. This is the only way to effectively manage financial risk in a manner congruent with how human beings actually react to chance. Rebonato challenges us to rethink the standard wisdom about probability in financial-risk management. Risk managers have become obsessed with measuring risk and believe that these quantitative results by themselves can guide sound financial choices--but they can't. In this book, Rebonato offers a radical yet surprisingly commonsense solution, one that seeks to remind us that managing risk comes down to real people making decisions under uncertainty. Plight of the Fortune Tellers is not only a book for the decision makers of Wall Street, it's a must-read for anyone concerned about how today's financial markets are run. The stakes have never been higher--can you risk it?
Download or read book Plight of the Fortune Tellers written by Riccardo Rebonato and published by Princeton University Press. This book was released on 2010-11-08 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today's top financial professionals have come to rely on ever-more sophisticated mathematics in their attempts to come to grips with financial risk. But this excessive reliance on quantitative precision is misleading--and puts everyone at risk. In Plight of the Fortune Tellers, Riccardo Rebonato forcefully argues that we must restore genuine decision making to our financial planning. Presenting a financial model that uses probability, experimental psychology, and decision theory, Rebonato challenges us to rethink the standard wisdom about risk management. He offers a radical yet surprisingly commonsense solution: managing risk comes down to real people making decisions under uncertainty. Plight of the Fortune Tellers is a must-read for anyone concerned about how today's financial markets are run. In a new preface, Rebonato explains how the ideas presented in this book fit into the context of the global financial crisis that followed its original publication. He argues that risk managers are still stuck in a probabilistic rut, and need to engage with the structural causes of real events.
Download or read book The End of Theory written by Richard Bookstaber and published by Princeton University Press. This book was released on 2019-04-02 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at how to account for the human complexities at the heart of today’s financial system Our economy may have recovered from the Great Recession—but not our economics. The End of Theory discusses why the human condition and the radical uncertainty of our world renders the standard economic model—and the theory behind it—useless for dealing with financial crises. What model should replace it? None. At least not any version we’ve been using for the past two hundred years. Richard Bookstaber argues for a new approach called agent-based economics, one that takes as a starting point the fact that we are humans, not the optimizing automatons that standard economics assumes we are. Sweeping aside the historic failure of twentieth-century economics, The End of Theory offers a novel perspective and more realistic framework to help prevent today's financial system from blowing up again.
Download or read book Modern Pricing of Interest Rate Derivatives written by Riccardo Rebonato and published by Princeton University Press. This book was released on 2012-01-16 with total page 486 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, interest-rate modeling has developed rapidly in terms of both practice and theory. The academic and practitioners' communities, however, have not always communicated as productively as would have been desirable. As a result, their research programs have often developed with little constructive interference. In this book, Riccardo Rebonato draws on his academic and professional experience, straddling both sides of the divide to bring together and build on what theory and trading have to offer. Rebonato begins by presenting the conceptual foundations for the application of the LIBOR market model to the pricing of interest-rate derivatives. Next he treats in great detail the calibration of this model to market prices, asking how possible and advisable it is to enforce a simultaneous fitting to several market observables. He does so with an eye not only to mathematical feasibility but also to financial justification, while devoting special scrutiny to the implications of market incompleteness. Much of the book concerns an original extension of the LIBOR market model, devised to account for implied volatility smiles. This is done by introducing a stochastic-volatility, displaced-diffusion version of the model. The emphasis again is on the financial justification and on the computational feasibility of the proposed solution to the smile problem. This book is must reading for quantitative researchers in financial houses, sophisticated practitioners in the derivatives area, and students of finance.
Download or read book Regulating From the Inside written by Iris H-Y Chiu and published by Bloomsbury Publishing. This book was released on 2015-11-05 with total page 413 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines a key aspect of the post-financial crisis reform package in the EU and UK-the ratcheting up of internal control in banks and financial institutions. The legal framework for internal controls is an important part of prudential regulation, and internal control also constitutes a form of internal gate-keeping for financial firms so that compliance with laws and regulations can be secured. This book argues that the legal framework for internal control, which is a form of meta-regulation, is susceptible to weaknesses, and such weaknesses are critically examined by adopting an interdisciplinary approach. The book discusses whether post-crisis reforms adequately address the weaknesses in regulating internal control and proposes an alternative strategy to enhance the 'governance' effectiveness of internal control.
Download or read book The Fortune Teller s Mah Jongg written by Derek Walters and published by Penguin Putnam. This book was released on 1994 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: An enchanting novelty for anyone fascinated by Chinese culture, the game that has challenged players for centuries has been adapted for more mystical pursuits--predicting the future and imparting wisdom. Includes complete instructions and four decks of cards representing the traditional tiles.
Download or read book Finding Fortune written by Delia Ray and published by Farrar, Straus and Giroux (BYR). This book was released on 2015-11-10 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: When Ren sees her mom heading out to dinner with that creep Rick Littleton, she's furious. How could her mom do that to her dad, a soldier stuck over in Afghanistan? Ren decides to run away to the school-turned-boardinghouse in the next town over. Once there, she makes friends with a boy named Hugh, who tells her that the boardinghouse is the site of a mystery. Every night, the owner, Ms. Baxter, searches for a treasure left in the building years ago. If Ms. Baxter can't find it, then the boarding house might shut down for good, and her dream of preserving the town's history by opening a pearl button museum will never come true. By the time Ren, Hugh, and other visitors help find the treasure-a bag of pearls-Ren and her mom also have found a way to forgive each other.
Download or read book In the Not Quite Dark written by Dana Johnson and published by Catapult. This book was released on 2016-08-01 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following her prize–winning collection Break Any Woman Down, Dana Johnson returns with a collection of bold stories set mostly in downtown Los Angeles that examine large issues –love, class, race – and how they influence and define our most intimate moments. In "The Liberace Museum," a mixed–race couple leave the South toward the destination of Vegas, crossing miles of road and history to the promised land of consumption; in "Rogues," a young man on break from college lands in his brother's Inland Empire neighborhood during a rash of unexplained robberies; in "She Deserves Everything She Gets," a woman listens to the strict advice given to her spoiled niece about going away to college, reflecting on her own experience and the night she lost her best friend; and in the collection's title story, a man setting down roots in downtown L.A. is haunted by the specter of both gentrification and a young female tourist, whose body was found in the water tower of a neighboring building. With deep insight into character, intimate relationships, and the modern search for personal freedom, In the Not Quite Dark is powerful new work that feels both urgent and timeless.
Download or read book Rational Decisions written by Ken Binmore and published by Princeton University Press. This book was released on 2008-12-29 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is widely held that Bayesian decision theory is the final word on how a rational person should make decisions. However, Leonard Savage--the inventor of Bayesian decision theory--argued that it would be ridiculous to use his theory outside the kind of small world in which it is always possible to "look before you leap." If taken seriously, this view makes Bayesian decision theory inappropriate for the large worlds of scientific discovery and macroeconomic enterprise. When is it correct to use Bayesian decision theory--and when does it need to be modified? Using a minimum of mathematics, Rational Decisions clearly explains the foundations of Bayesian decision theory and shows why Savage restricted the theory's application to small worlds. The book is a wide-ranging exploration of standard theories of choice and belief under risk and uncertainty. Ken Binmore discusses the various philosophical attitudes related to the nature of probability and offers resolutions to paradoxes believed to hinder further progress. In arguing that the Bayesian approach to knowledge is inadequate in a large world, Binmore proposes an extension to Bayesian decision theory--allowing the idea of a mixed strategy in game theory to be expanded to a larger set of what Binmore refers to as "muddled" strategies. Written by one of the world's leading game theorists, Rational Decisions is the touchstone for anyone needing a concise, accessible, and expert view on Bayesian decision making.
Download or read book Fortune s Rocks written by Anita Shreve and published by St. Martin's Press. This book was released on 1999-12-02 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: Olympia Biddeford's passionate affair with a married man nearly three times her age, results in her being exiled from society and forces her to make a new life for herself.
Download or read book The Fortune Cookie Chronicles written by Jennifer 8 Lee and published by Hachette+ORM. This book was released on 2008-02-01 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: If you think McDonald's is the most ubiquitous restaurant experience in America, consider that there are more Chinese restaurants in America than McDonalds, Burger Kings, and Wendys combined. New York Times reporter and Chinese-American (or American-born Chinese). In her search, Jennifer 8 Lee traces the history of Chinese-American experience through the lens of the food. In a compelling blend of sociology and history, Jenny Lee exposes the indentured servitude Chinese restaurants expect from illegal immigrant chefs, investigates the relationship between Jews and Chinese food, and weaves a personal narrative about her own relationship with Chinese food. The Fortune Cookie Chronicles speaks to the immigrant experience as a whole, and the way it has shaped our country.
Download or read book It s Not Complicated written by Rick Nason and published by University of Toronto Press. This book was released on 2017-01-01 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: It's Not Complicated offers a paradigm shift for business professionals looking for simplified solutions to complex problems. Rick Nason introduces the principles of "complexity thinking" which empower managers to understand, correlate, and explain a diverse range of business phenomena.
Download or read book From Poverty to Prosperity written by Arnold S. Kling and published by Encounter Books. This book was released on 2009 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conventional economists lean on the comfortable precision of mathematical abstraction and ignore the messy complexity of the real world. This work tells a big-picture story about the differences in the standard of living across time and across borders.
Download or read book Understanding the Risk Society written by Gabriel Mythen and published by Bloomsbury Publishing. This book was released on 2017-09-16 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this penetrating account of the impacts of risk on everyday life, Gabe Mythen provides a theoretically informed overview of the regulation of crime and security in a globalized world. By explicating the relationships between risk and crime, security and justice, the text applies risk to specific incidents and events, scrutinizing social processes and cultural practices, and illumining some of the central social and political issues of the modern age. Extending across a range of domains – including law, the environment, media and politics – Mythen embarks on a conceptual and critical exploration of risk theory. In doing so, his incisive text presents both a critical evaluation of the efficacy of competing perspectives on risk, and an authoritative appraisal of the place of risk within the social sciences.
Download or read book American Style Derivatives written by Jerome Detemple and published by CRC Press. This book was released on 2005-12-09 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focusing on recent developments in the field, American-Style Derivatives provides an extensive treatment of option pricing with emphasis on the valuation of American options on dividend-paying assets. This book reviews valuation principles for European contingent claims and extends the analysis to American contingent claims. It presents basic valuation principles for American options including barrier, capped, and multi-asset options. It also reviews numerical methods for option pricing and compares their relative performance. Ideal for students and researchers in quantitative finance, this material is accessible to those with a background in stochastic processes or derivative securities.
Download or read book Booms and Busts An Encyclopedia of Economic History from the First Stock Market Crash of 1792 to the Current Global Economic Crisis written by Mehmet Odekon and published by Routledge. This book was released on 2015-03-17 with total page 1020 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely and authoritative set explores three centuries of good times and hard times in major economies throughout the world. More than 400 signed articles cover events from Tulipmania during the 1630s to the U.S. federal stimulus package of 2009, and introduce readers to underlying concepts, recurring themes, major institutions, and notable figures. Written in a clear, accessible style, "Booms and Busts" provides vital insight and perspective for students, teachers, librarians, and the general public - anyone interested in understanding the historical precedents, causes, and effects of the global economic crisis. Special features include a chronology of major booms and busts through history, a glossary of economic terms, a guide to further research, an appendix of primary documents, a topic finder, and a comprehensive index. It features 1,050 pages; three volumes; 8-1/2" X 11"; topic finder; photos; chronology; glossary; primary documents; bibliography; and, index.
Download or read book QFINANCE The Ultimate Resource 4th edition written by Bloomsbury Publishing and published by A&C Black. This book was released on 2013-09-26 with total page 6938 pages. Available in PDF, EPUB and Kindle. Book excerpt: QFINANCE: The Ultimate Resource (4th edition) offers both practical and thought-provoking articles for the finance practitioner, written by leading experts from the markets and academia. The coverage is expansive and in-depth, with key themes which include balance sheets and cash flow, regulation, investment, governance, reputation management, and Islamic finance encompassed in over 250 best practice and thought leadership articles. This edition will also comprise key perspectives on environmental, social, and governance (ESG) factors -- essential for understanding the long-term sustainability of a company, whether you are an investor or a corporate strategist. Also included: Checklists: more than 250 practical guides and solutions to daily financial challenges; Finance Information Sources: 200+ pages spanning 65 finance areas; International Financial Information: up-to-date country and industry data; Management Library: over 130 summaries of the most popular finance titles; Finance Thinkers: 50 biographies covering their work and life; Quotations and Dictionary.
