Traders, guns & money: knowns and unknowns in the dazzling world of derivatives
A wry and wickedly comic exposé of the culture, games, and pure deceptions played out every day in trading rooms around the world, usually with other people's money. Whether you move in the financial world yourself, know people who do, or have money invested in stocks, shares or derivatives, th...
Gespeichert in:
1. Verfasser: | |
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Format: | Buch |
Sprache: | English |
Veröffentlicht: |
Harlow ; Munich [u.a.]
Financial Times Prentice Hall
2006
|
Ausgabe: | 1. publ. |
Schlagworte: | |
Online-Zugang: | Inhaltsverzeichnis |
Zusammenfassung: | A wry and wickedly comic exposé of the culture, games, and pure deceptions played out every day in trading rooms around the world, usually with other people's money. Whether you move in the financial world yourself, know people who do, or have money invested in stocks, shares or derivatives, this is guaranteed to make you think.--From publisher description. |
Beschreibung: | Includes bibliographical references and index |
Beschreibung: | XIV, 334 S. graph. Darst. |
ISBN: | 9780273704744 0273704745 |
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246 | 1 | 3 | |a Traders, guns and money |
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264 | 1 | |a Harlow ; Munich [u.a.] |b Financial Times Prentice Hall |c 2006 | |
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500 | |a Includes bibliographical references and index | ||
520 | 3 | |a A wry and wickedly comic exposé of the culture, games, and pure deceptions played out every day in trading rooms around the world, usually with other people's money. Whether you move in the financial world yourself, know people who do, or have money invested in stocks, shares or derivatives, this is guaranteed to make you think.--From publisher description. | |
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adam_text | Contents
List of figures and tables xii
Preface xiii
Prologue 1
Miracles and mirages 2
Serial crimes 5
Beginning of the end/end of the beginning 9
Knowns and unknowns 12
Unreliable recollections 13
Summary judgment 17
1 Financial WMDs derivatives demagoguery 19
School days 21
It s all Chinese to me 22
A derivative idea 23
Betting shops 25
Secret subtexts 27
Leveraged speculations 29
Under the radar 32
Whole lotta swapping going on 33
The golden age/LIBOR minus 50 37
Warehouses 40
Serial killings 43
Forbidden fruit 45
Derived logic 50
2 Beautiful lies the sell side 53
Smile and dial 55
Market colour 56
Rough trade 59
Analyze this 62
Class wars 64
Ultra vires 66
Feudal kingdoms
Uncivil wars 68
Golden rules 70
Business models *¦
The medium is the message *
Bondage 7 $
Tabloid cultures 76
77
Conspicuous currency
Ethnic cleansing
Foreign affairs 80
FILTH 81
Lost in translation °L
A day in the life 83
3 Trae lies the buy side 87
Turn of the fork 88
Risky business 8
Magic kingdoms 1
Stripping or stacking/hedging perils, again 95
Me too 97
Zaiteku or the bride stripped bare ^8
The gamble in P G 101
Tobashi, baby 105
Gnomes of Zermatt and Belgian dentists I 7
Death swaps 108
Investment fashions HO
Alpha, beta, zeta H2
Looking after the relatives 11 ^
Agents all H6
Unique selling propositions 1 ^ 7
4 Show me the money greed lost and regained 121
Money uncertainty 122
Toll booths 123
Take a seat 125
Efficient markets 126
On the platform 127
A day at the races 129
Black swans, black sheep 130
Trading places 131
Secret intelligence 133
Overwhelming force 134
Oracle of Delphi 135
Free money 137
The colour of money 138
In reserve 140
A comedy of errors 141
Black holes 143
What s the number? 146
Nothing like excess 148
Nice work if you can get it 149
Dukes of Hazard 151
5 The perfect storm risk mismanagement by the numbers 153
Shock therapy 154
Holy risk! 155
Risk spin 156
Risque matters 158
Placebo effects 160
Among the unbelievers 162
Risk cults 164
In the long run ... 167
Modus operand* 169
Secret trader s business 170
Let the good times roll 171
The perfect storm 172
Weather forecasts 173
Endgame 175
Mean risk 176
Extreme sports 177
6 Super models derivative algorithms 181
Out of the sheltered workshops 182
Rocket science 184
Culture wars 185
Conveyor belts 187
Trivial pursuits 188
Grand oprey 189
The quest 190
Genesis 193
Gospels 196
Greek tragedies 198
Failing the model test 200
CSI (Crime Scene Investigation) 1987 Oh LOR dy! 202
CSI1992 ERM (extremely risky, man!) 203
CSI 1998 selling England by the pound 204
CSI 1998 Asian fever 206
Model envy 208
Omitted variable bias 209
7 Games without frontiers the inverse world of 211
structured products
Driving over lemons 212
The best of times . . . the worst of times 214
Ghostbusters 216
It wasn t me, sir 217
Heaven and hell 217
Split personality 220
Golfing holidays 222
The flood 224
Power to the people 226
Recycling junk 230
Six packs 232
Take no prisoners 234
The usual suspects 236
8 Share and share alike derivative inequity 241
Billion dollar baby 242
Self arbitrage 245
Arbitraging others 246
Taking it over 248
Buying back the farm 249
Who s fooling who? 250
Strippers 253
Pearls of wisdom 254
Own goals 257
Taxing times 260
Fund times 262
9 Credit where credit is due fun with CDS and CDO 265
Credit wars 266
Credit epiphanies 267
First to credit derivatives 269
Remote credit 271
Mistaken identity 274
Heard it on the grapevine 276
Guaranteed delivery 277
Re re re re restructuring CDS stutters 279
Beyond the push and pull 281
Imitation and flattery 282
Tranche warfare 285
It s super 287
A capital idea 289
The arbitrage age 290
Hangovers 291
UFOs 292
Geeks with Greeks 293
Never believe your own lies 295
Russian dolls 297
Black holes 298
Epilogue 301
The Asian century redux 302
Vexatious litigation 305
The more things change 308
Hot tubbing 310
Rogue trader 313
Bangs and whimpers 316
The China Club 317
BOAT (Best of all time) 318
Knowns and unknowns 319
Notes 321
Index 325
List of figures and tables
Figure 1.1 Parallel loans 35
Figure 1.2 1981 World Bank IBM currency swap 36
Figure 1.3 Interest rate swap 37
Figure 1.4 Inverse floater 46
Figure 1.5 Leveraged inverse floater 50
Figure 6.1 Share price and option values 196
Figure 7.1 Asset swap 231
Figure 7.2 Repackaging vehicle 232
Figure 9.1 Credit default swap (CDS) 272
Figure 9.2 Collateralized loan obligation (CLO) 283
Figure 9.3 Synthetic securitization 285
Figure 9.4 Fully funded CDO capital structure 286
Figure 9.5 Synthetic CDO capital structure 288
Table 3.1 Investment styles 111
Table 3.2 Unique selling propositions 118
Table 5.1 Critical events 1987 2005 165
Table 6.1 Expected share price in one year 191
Table 6.2 Option expected value 192
Table E.I Job description rogue trader 313
|
adam_txt |
Contents
List of figures and tables xii
Preface xiii
Prologue 1
Miracles and mirages 2
Serial crimes 5
Beginning of the end/end of the beginning 9
Knowns and unknowns 12
Unreliable recollections 13
Summary judgment 17
1 Financial WMDs derivatives demagoguery 19
School days 21
It's all Chinese to me 22
A derivative idea 23
Betting shops 25
Secret subtexts 27
Leveraged speculations 29
Under the radar 32
Whole lotta swapping going on 33
The golden age/LIBOR minus 50 37
Warehouses 40
Serial killings 43
Forbidden fruit 45
Derived logic 50
2 Beautiful lies the 'sell' side 53
Smile and dial 55
Market colour 56
Rough trade 59
Analyze this 62
Class wars 64
Ultra vires 66
Feudal kingdoms "'
Uncivil wars 68
Golden rules 70
Business models '*¦
The medium is the message ' *
Bondage 7\$
Tabloid cultures 76
77
Conspicuous currency ''
Ethnic cleansing
Foreign affairs 80
FILTH 81
Lost in translation °L
A day in the life 83
3 Trae lies the 'buy' side 87
Turn of the fork 88
Risky business 8"
Magic kingdoms "1
Stripping or stacking/hedging perils, again 95
Me too 97
'Zaiteku' or the bride stripped bare ^8
The gamble in P G 101
Tobashi, baby 105
Gnomes of Zermatt and Belgian dentists I"7
Death swaps 108
Investment fashions HO
Alpha, beta, zeta H2
Looking after the relatives 11 ^
Agents all H6
Unique selling propositions 1 ^ 7
4 Show me the money greed lost and regained 121
Money uncertainty 122
Toll booths 123
Take a seat 125
Efficient markets 126
On the platform 127
A day at the races 129
Black swans, black sheep 130
Trading places 131
Secret intelligence 133
Overwhelming force 134
Oracle of Delphi 135
Free money 137
The colour of money 138
In reserve 140
A comedy of errors 141
Black holes 143
What's the number? 146
Nothing like excess 148
Nice work if you can get it 149
Dukes of Hazard 151
5 The perfect storm risk mismanagement by the numbers 153
Shock therapy 154
Holy risk! 155
Risk spin 156
Risque matters 158
Placebo effects 160
Among the unbelievers 162
Risk cults 164
In the long run . 167
Modus operand* 169
Secret trader's business 170
Let the good times roll 171
The perfect storm 172
Weather forecasts 173
Endgame 175
Mean risk 176
Extreme sports 177
6 Super models derivative algorithms 181
Out of the sheltered workshops 182
Rocket science 184
Culture wars 185
Conveyor belts 187
Trivial pursuits 188
Grand oprey 189
The quest 190
Genesis 193
Gospels 196
Greek tragedies 198
Failing the model test 200
CSI (Crime Scene Investigation) 1987 'Oh LOR dy!' 202
CSI1992 ERM (extremely risky, man!) 203
CSI 1998 selling England by the pound 204
CSI 1998 Asian fever 206
Model envy 208
Omitted variable bias 209
7 Games without frontiers the inverse world of 211
structured products
Driving over lemons 212
The best of times . . . the worst of times 214
Ghostbusters 216
It wasn't me, sir 217
Heaven and hell 217
Split personality 220
Golfing holidays 222
The flood 224
Power to the people 226
Recycling junk 230
Six packs 232
Take no prisoners 234
The usual suspects 236
8 Share and share alike derivative inequity 241
Billion dollar baby 242
Self arbitrage 245
Arbitraging others 246
Taking it over 248
Buying back the farm 249
Who's fooling who? 250
Strippers 253
Pearls of wisdom 254
Own goals 257
Taxing times 260
Fund times 262
9 Credit where credit is due fun with CDS and CDO 265
Credit wars 266
Credit epiphanies 267
First to credit derivatives 269
Remote credit 271
Mistaken identity 274
Heard it on the grapevine 276
Guaranteed delivery 277
Re re re re restructuring CDS stutters 279
Beyond the push and pull 281
Imitation and flattery 282
Tranche warfare 285
It's super 287
A capital idea 289
The arbitrage age 290
Hangovers 291
UFOs 292
Geeks with Greeks 293
Never believe your own lies 295
Russian dolls 297
Black holes 298
Epilogue 301
The Asian century redux 302
Vexatious litigation 305
The more things change 308
Hot tubbing 310
Rogue trader 313
Bangs and whimpers 316
The China Club 317
BOAT (Best of all time) 318
Knowns and unknowns 319
Notes 321
Index 325
List of figures and tables
Figure 1.1 Parallel loans 35
Figure 1.2 1981 World Bank IBM currency swap 36
Figure 1.3 Interest rate swap 37
Figure 1.4 Inverse floater 46
Figure 1.5 Leveraged inverse floater 50
Figure 6.1 Share price and option values 196
Figure 7.1 Asset swap 231
Figure 7.2 Repackaging vehicle 232
Figure 9.1 Credit default swap (CDS) 272
Figure 9.2 Collateralized loan obligation (CLO) 283
Figure 9.3 Synthetic securitization 285
Figure 9.4 Fully funded CDO capital structure 286
Figure 9.5 Synthetic CDO capital structure 288
Table 3.1 Investment styles 111
Table 3.2 Unique selling propositions 118
Table 5.1 Critical events 1987 2005 165
Table 6.1 Expected share price in one year 191
Table 6.2 Option expected value 192
Table E.I Job description rogue trader 313 |
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illustrated | Illustrated |
index_date | 2024-07-02T16:49:08Z |
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language | English |
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spelling | Das, Satyajit Verfasser aut Traders, guns & money knowns and unknowns in the dazzling world of derivatives Satyajit Das Traders, guns and money 1. publ. Harlow ; Munich [u.a.] Financial Times Prentice Hall 2006 XIV, 334 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references and index A wry and wickedly comic exposé of the culture, games, and pure deceptions played out every day in trading rooms around the world, usually with other people's money. Whether you move in the financial world yourself, know people who do, or have money invested in stocks, shares or derivatives, this is guaranteed to make you think.--From publisher description. Derivaten (financiën) gtt Derivative securities Derivat Wertpapier (DE-588)4381572-8 gnd rswk-swf Derivat Wertpapier (DE-588)4381572-8 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015490481&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
spellingShingle | Das, Satyajit Traders, guns & money knowns and unknowns in the dazzling world of derivatives Derivaten (financiën) gtt Derivative securities Derivat Wertpapier (DE-588)4381572-8 gnd |
subject_GND | (DE-588)4381572-8 |
title | Traders, guns & money knowns and unknowns in the dazzling world of derivatives |
title_alt | Traders, guns and money |
title_auth | Traders, guns & money knowns and unknowns in the dazzling world of derivatives |
title_exact_search | Traders, guns & money knowns and unknowns in the dazzling world of derivatives |
title_exact_search_txtP | Traders, guns & money knowns and unknowns in the dazzling world of derivatives |
title_full | Traders, guns & money knowns and unknowns in the dazzling world of derivatives Satyajit Das |
title_fullStr | Traders, guns & money knowns and unknowns in the dazzling world of derivatives Satyajit Das |
title_full_unstemmed | Traders, guns & money knowns and unknowns in the dazzling world of derivatives Satyajit Das |
title_short | Traders, guns & money |
title_sort | traders guns money knowns and unknowns in the dazzling world of derivatives |
title_sub | knowns and unknowns in the dazzling world of derivatives |
topic | Derivaten (financiën) gtt Derivative securities Derivat Wertpapier (DE-588)4381572-8 gnd |
topic_facet | Derivaten (financiën) Derivative securities Derivat Wertpapier |
url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015490481&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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