Global derivative debacles :: from theory to malpractice /
"This book analyzes in depth all major derivatives debacles of the last half century including the multi-billion losses and/or bankruptcy of Metallgesellschaft (1994), Barings Bank (1995), Long Term Capital Management (1998), Amaranth (2006), Société Générale (2008) , AIG (2008) and JP Morg...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Singapore :
World Scientific Publishing Co.,
[2015]
|
| Ausgabe: | Second edition. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | "This book analyzes in depth all major derivatives debacles of the last half century including the multi-billion losses and/or bankruptcy of Metallgesellschaft (1994), Barings Bank (1995), Long Term Capital Management (1998), Amaranth (2006), Société Générale (2008) , AIG (2008) and JP Morgan-Chase (2012). It unlocks the secrets of derivatives by telling the stories of institutions which played in the derivative market and lost big. For some of these unfortunate organizations it was daring but flawed financial engineering which brought them havoc. For others it was unbridled speculation perpetrated by rogue traders whose unchecked fraud brought their house down. Should derivatives be feared "as financial weapons of mass destruction" or hailed as financial innovations which through efficient risk transfer are truly adding to the Wealth of Nations? By presenting a factual analysis of how the malpractice of derivatives played havoc with derivative end-user and dealer institutions, a case is made for vigilance not only to market and counter-party risk but also operational risk in their use for risk management and proprietary trading. Clear and recurring lessons across the different stories in this volume call not only for a tighter but also "smarter" control system of derivatives trading and should be of immediate interest to financial managers, bankers, traders, auditors and regulators who are directly or indirectly exposed to financial derivatives. The book groups cases by derivative category, starting with the simplest and building up to the most complex -- namely, Forwards, Futures, Options and Swaps in that order, with applications in commodities, foreign exchange, stock indices and interest rates. Each chapter deals with one derivative debacle, providing a rigorous and comprehensive but non-technical elucidation of what happened. What is new in the second edition? A new chapter on JP Morgan-Chase's London Whale, an in-depth discussion of credit-default swaps, and an update of the revamped regulatory framework with Basel 2.5 and Basel III against the backdrop of the Euro crisis, along with a revised and expanded discussion of the AIG debacle."-- |
| Beschreibung: | 1 online resource : illustrations |
| Bibliographie: | Includes bibliographical references and index. |
| ISBN: | 9789814663267 9814663263 |
Internformat
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| 100 | 1 | |a Jacque, Laurent L., |e author. |1 https://id.oclc.org/worldcat/entity/E39PCjJxbdHMqb9GfmrVVcpF8C |0 http://id.loc.gov/authorities/names/n78008369 | |
| 245 | 1 | 0 | |a Global derivative debacles : |b from theory to malpractice / |c Laurent L. Jacque, Tufts University, USA & HEC School of Management, France. |
| 250 | |a Second edition. | ||
| 264 | 1 | |a Singapore : |b World Scientific Publishing Co., |c [2015] | |
| 264 | 4 | |c ©2015 | |
| 300 | |a 1 online resource : |b illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 504 | |a Includes bibliographical references and index. | ||
| 505 | 0 | |a Preface; Acknowledgements; About the Author; List of Figures; List of Tables; List of Boxes; Chapter 1: Derivatives and the Wealth of Nations; What are Derivatives?; A Brief History of Derivatives; Derivatives and the Wealth of Nations; Organization of the Book; Bibliography; PART I: FORWARDS; Chapter 2: Showa Shell Sekiyu K.K.; "Shell-Shocked By Shell Games": The Showa Shell Debacle; Hedging Currency Risk at Oil Companies; The Mechanics of Hedging Dollar Exchange Rate Risk and Oil Price Risk; Was Showa Shell Hedging or Speculating?; Concealing Currency Losses; The Story Unfolds | |
| 505 | 8 | |a Forecasting Exchange Rates: Treacherous at BestThe Moral of the Story; Questions for Further Discussion; Chapter 3: Citibank's Forex Losses; Currency Trading in the Tranquil Days of BrettonWoods; Gambling on Currencies with Forward Contracts; How Do Banks Keep a Lid on Their Foreign Exchange Trading Operations?; Speculating from a Commercial Bank's Trading Desk: When Citibank is Not Quite a Hedge Fund à La Georges Soros; Hasty and Costly Conclusion; The Moral of the Story; QUESTIONS FOR DISCUSSION; Chapter 4: Bank Negara Malaysia; What is Central Banking All About? | |
| 505 | 8 | |a Bank Negara as a Macro-Hedge FundHow Did Bank Negara Speculate?; PART II: FUTURES; Chapter 5: Amaranth Advisors LLC; The Rise and Fall of Amaranth Advisors LLC; Genesis of Natural Gas Derivatives; A Primer on Speculating in Natural Gas Derivatives; The Alchemy of Speculation Through Natural Gas Futures; The Story Unfolds: Amaranth Speculative Assault on Nymex; Risk Management at Amaranth; The Moral of the Story; Postscript; Questions for Discussion; Chapter 6: Metallgesellschaft; The Metallgesellschaft Debacle; The "Long and Short" of Hedging in the Oil Market | |
| 505 | 8 | |a Numerical Illustration of "Ebbs & Flows" Under a "Stack & Roll" HedgeThe "Message is in the Entrails": Empirics of the Oil Market (1983-2002); If Only MGRM had been Allowed to Roll the Dice; When a Hedge is a Gamble: Was MGRM Hedging or Speculating?; MGRM as a Market Maker; The Moral of the Story; Bibliography; Questions for Discussion; Chapter 7: Sumitomo; Was Sumitomo Manipulating Copper Prices?; Alarm Bells; Debacle; Postscript; PART III: OPTIONS; Chapter 8: Allied Lyons; A New Mission for Allied Lyons Treasury Department | |
| 505 | 8 | |a A Primer on Currency Options: Was Allied Lyons Hedging or Speculating?Selling Volatility: Allied-Lyons "Deadly Game"; Alarm Bells are Ignored as the Story Unfolds; The Moral of the Story; Appendix: Pricing Currency Options; Chapter 9: Allied Irish Banks; Rusnak and Currency Trading at Allfirst; Gambling on Currencies with Forward Contracts; Arbitraging the Forward and Option Market: The International Put-Call Parity Theorem; The Art of Concealment; When Alarm Bells are Ignored; The Moral of the Story; Epilogue; Bibliography; Questions for Discussion; Chapter 10: Barings | |
| 520 | |a "This book analyzes in depth all major derivatives debacles of the last half century including the multi-billion losses and/or bankruptcy of Metallgesellschaft (1994), Barings Bank (1995), Long Term Capital Management (1998), Amaranth (2006), Société Générale (2008) , AIG (2008) and JP Morgan-Chase (2012). It unlocks the secrets of derivatives by telling the stories of institutions which played in the derivative market and lost big. For some of these unfortunate organizations it was daring but flawed financial engineering which brought them havoc. For others it was unbridled speculation perpetrated by rogue traders whose unchecked fraud brought their house down. Should derivatives be feared "as financial weapons of mass destruction" or hailed as financial innovations which through efficient risk transfer are truly adding to the Wealth of Nations? By presenting a factual analysis of how the malpractice of derivatives played havoc with derivative end-user and dealer institutions, a case is made for vigilance not only to market and counter-party risk but also operational risk in their use for risk management and proprietary trading. Clear and recurring lessons across the different stories in this volume call not only for a tighter but also "smarter" control system of derivatives trading and should be of immediate interest to financial managers, bankers, traders, auditors and regulators who are directly or indirectly exposed to financial derivatives. The book groups cases by derivative category, starting with the simplest and building up to the most complex -- namely, Forwards, Futures, Options and Swaps in that order, with applications in commodities, foreign exchange, stock indices and interest rates. Each chapter deals with one derivative debacle, providing a rigorous and comprehensive but non-technical elucidation of what happened. What is new in the second edition? A new chapter on JP Morgan-Chase's London Whale, an in-depth discussion of credit-default swaps, and an update of the revamped regulatory framework with Basel 2.5 and Basel III against the backdrop of the Euro crisis, along with a revised and expanded discussion of the AIG debacle."-- |c Provided by publisher. | ||
| 588 | 0 | |a Online resource; title from PDF title page (EBSCOhost, viewed August 10, 2020). | |
| 650 | 0 | |a Derivative securities. |0 http://id.loc.gov/authorities/subjects/sh93005704 | |
| 650 | 0 | |a Finance. |0 http://id.loc.gov/authorities/subjects/sh85048256 | |
| 650 | 6 | |a Instruments dérivés (Finances) | |
| 650 | 6 | |a Finances. | |
| 650 | 7 | |a finance. |2 aat | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Finance. |2 bisacsh | |
| 650 | 7 | |a Derivative securities |2 fast | |
| 650 | 7 | |a Finance |2 fast | |
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Datensatz im Suchindex
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| _version_ | 1816796919202054144 |
| adam_text | |
| any_adam_object | |
| author | Jacque, Laurent L. |
| author_GND | http://id.loc.gov/authorities/names/n78008369 |
| author_facet | Jacque, Laurent L. |
| author_role | aut |
| author_sort | Jacque, Laurent L. |
| author_variant | l l j ll llj |
| building | Verbundindex |
| bvnumber | localFWS |
| callnumber-first | H - Social Science |
| callnumber-label | HG6024 |
| callnumber-raw | HG6024.A3 J335 2015 |
| callnumber-search | HG6024.A3 J335 2015 |
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| contents | Preface; Acknowledgements; About the Author; List of Figures; List of Tables; List of Boxes; Chapter 1: Derivatives and the Wealth of Nations; What are Derivatives?; A Brief History of Derivatives; Derivatives and the Wealth of Nations; Organization of the Book; Bibliography; PART I: FORWARDS; Chapter 2: Showa Shell Sekiyu K.K.; "Shell-Shocked By Shell Games": The Showa Shell Debacle; Hedging Currency Risk at Oil Companies; The Mechanics of Hedging Dollar Exchange Rate Risk and Oil Price Risk; Was Showa Shell Hedging or Speculating?; Concealing Currency Losses; The Story Unfolds Forecasting Exchange Rates: Treacherous at BestThe Moral of the Story; Questions for Further Discussion; Chapter 3: Citibank's Forex Losses; Currency Trading in the Tranquil Days of BrettonWoods; Gambling on Currencies with Forward Contracts; How Do Banks Keep a Lid on Their Foreign Exchange Trading Operations?; Speculating from a Commercial Bank's Trading Desk: When Citibank is Not Quite a Hedge Fund à La Georges Soros; Hasty and Costly Conclusion; The Moral of the Story; QUESTIONS FOR DISCUSSION; Chapter 4: Bank Negara Malaysia; What is Central Banking All About? Bank Negara as a Macro-Hedge FundHow Did Bank Negara Speculate?; PART II: FUTURES; Chapter 5: Amaranth Advisors LLC; The Rise and Fall of Amaranth Advisors LLC; Genesis of Natural Gas Derivatives; A Primer on Speculating in Natural Gas Derivatives; The Alchemy of Speculation Through Natural Gas Futures; The Story Unfolds: Amaranth Speculative Assault on Nymex; Risk Management at Amaranth; The Moral of the Story; Postscript; Questions for Discussion; Chapter 6: Metallgesellschaft; The Metallgesellschaft Debacle; The "Long and Short" of Hedging in the Oil Market Numerical Illustration of "Ebbs & Flows" Under a "Stack & Roll" HedgeThe "Message is in the Entrails": Empirics of the Oil Market (1983-2002); If Only MGRM had been Allowed to Roll the Dice; When a Hedge is a Gamble: Was MGRM Hedging or Speculating?; MGRM as a Market Maker; The Moral of the Story; Bibliography; Questions for Discussion; Chapter 7: Sumitomo; Was Sumitomo Manipulating Copper Prices?; Alarm Bells; Debacle; Postscript; PART III: OPTIONS; Chapter 8: Allied Lyons; A New Mission for Allied Lyons Treasury Department A Primer on Currency Options: Was Allied Lyons Hedging or Speculating?Selling Volatility: Allied-Lyons "Deadly Game"; Alarm Bells are Ignored as the Story Unfolds; The Moral of the Story; Appendix: Pricing Currency Options; Chapter 9: Allied Irish Banks; Rusnak and Currency Trading at Allfirst; Gambling on Currencies with Forward Contracts; Arbitraging the Forward and Option Market: The International Put-Call Parity Theorem; The Art of Concealment; When Alarm Bells are Ignored; The Moral of the Story; Epilogue; Bibliography; Questions for Discussion; Chapter 10: Barings |
| ctrlnum | (OCoLC)913513698 |
| dewey-full | 332.64/57 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.64/57 |
| dewey-search | 332.64/57 |
| dewey-sort | 3332.64 257 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | Second edition. |
| format | Electronic eBook |
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It unlocks the secrets of derivatives by telling the stories of institutions which played in the derivative market and lost big. For some of these unfortunate organizations it was daring but flawed financial engineering which brought them havoc. For others it was unbridled speculation perpetrated by rogue traders whose unchecked fraud brought their house down. Should derivatives be feared "as financial weapons of mass destruction" or hailed as financial innovations which through efficient risk transfer are truly adding to the Wealth of Nations? By presenting a factual analysis of how the malpractice of derivatives played havoc with derivative end-user and dealer institutions, a case is made for vigilance not only to market and counter-party risk but also operational risk in their use for risk management and proprietary trading. Clear and recurring lessons across the different stories in this volume call not only for a tighter but also "smarter" control system of derivatives trading and should be of immediate interest to financial managers, bankers, traders, auditors and regulators who are directly or indirectly exposed to financial derivatives. The book groups cases by derivative category, starting with the simplest and building up to the most complex -- namely, Forwards, Futures, Options and Swaps in that order, with applications in commodities, foreign exchange, stock indices and interest rates. Each chapter deals with one derivative debacle, providing a rigorous and comprehensive but non-technical elucidation of what happened. What is new in the second edition? A new chapter on JP Morgan-Chase's London Whale, an in-depth discussion of credit-default swaps, and an update of the revamped regulatory framework with Basel 2.5 and Basel III against the backdrop of the Euro crisis, along with a revised and expanded discussion of the AIG debacle."--</subfield><subfield code="c">Provided by publisher.</subfield></datafield><datafield tag="588" ind1="0" ind2=" "><subfield code="a">Online resource; title from PDF title page (EBSCOhost, viewed August 10, 2020).</subfield></datafield><datafield tag="650" ind1=" " ind2="0"><subfield code="a">Derivative securities.</subfield><subfield code="0">http://id.loc.gov/authorities/subjects/sh93005704</subfield></datafield><datafield tag="650" ind1=" " ind2="0"><subfield code="a">Finance.</subfield><subfield code="0">http://id.loc.gov/authorities/subjects/sh85048256</subfield></datafield><datafield tag="650" ind1=" " ind2="6"><subfield code="a">Instruments dérivés (Finances)</subfield></datafield><datafield tag="650" ind1=" " ind2="6"><subfield code="a">Finances.</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">finance.</subfield><subfield code="2">aat</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">BUSINESS & ECONOMICS</subfield><subfield code="x">Finance.</subfield><subfield code="2">bisacsh</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Derivative securities</subfield><subfield code="2">fast</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Finance</subfield><subfield code="2">fast</subfield></datafield><datafield tag="758" ind1=" " ind2=" "><subfield code="i">has work:</subfield><subfield code="a">Global derivative debacles (Text)</subfield><subfield code="1">https://id.oclc.org/worldcat/entity/E39PCH3XKXcvtgQBdJ6mDFF6gC</subfield><subfield code="4">https://id.oclc.org/worldcat/ontology/hasWork</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Print version:</subfield><subfield code="a">Jacque, Laurent L.</subfield><subfield code="t">Global derivative debacles.</subfield><subfield code="b">Second edition.</subfield><subfield code="d">New Jersey : World Scientific, [2015]</subfield><subfield code="z">9789814663243</subfield><subfield code="w">(DLC) 2015005685</subfield><subfield code="w">(OCoLC)904335814</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="l">FWS01</subfield><subfield code="p">ZDB-4-EBU</subfield><subfield code="q">FWS_PDA_EBU</subfield><subfield code="u">https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1022261</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="938" ind1=" " ind2=" "><subfield code="a">Askews and Holts Library Services</subfield><subfield code="b">ASKH</subfield><subfield code="n">AH28816139</subfield></datafield><datafield tag="938" ind1=" " ind2=" "><subfield code="a">ProQuest Ebook Central</subfield><subfield code="b">EBLB</subfield><subfield code="n">EBL4420803</subfield></datafield><datafield tag="938" ind1=" " ind2=" "><subfield code="a">EBSCOhost</subfield><subfield code="b">EBSC</subfield><subfield code="n">1022261</subfield></datafield><datafield tag="938" ind1=" " ind2=" "><subfield code="a">ProQuest MyiLibrary Digital eBook Collection</subfield><subfield code="b">IDEB</subfield><subfield code="n">cis31087654</subfield></datafield><datafield tag="938" ind1=" " ind2=" "><subfield code="a">YBP Library Services</subfield><subfield code="b">YANK</subfield><subfield code="n">12508497</subfield></datafield><datafield tag="994" ind1=" " ind2=" "><subfield code="a">92</subfield><subfield code="b">GEBAY</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-4-EBU</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-863</subfield></datafield></record></collection> |
| id | ZDB-4-EBU-ocn913513698 |
| illustrated | Illustrated |
| indexdate | 2024-11-26T14:49:19Z |
| institution | BVB |
| isbn | 9789814663267 9814663263 |
| language | English |
| oclc_num | 913513698 |
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| owner_facet | MAIN DE-863 DE-BY-FWS |
| physical | 1 online resource : illustrations |
| psigel | ZDB-4-EBU |
| publishDate | 2015 |
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| publisher | World Scientific Publishing Co., |
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| spelling | Jacque, Laurent L., author. https://id.oclc.org/worldcat/entity/E39PCjJxbdHMqb9GfmrVVcpF8C http://id.loc.gov/authorities/names/n78008369 Global derivative debacles : from theory to malpractice / Laurent L. Jacque, Tufts University, USA & HEC School of Management, France. Second edition. Singapore : World Scientific Publishing Co., [2015] ©2015 1 online resource : illustrations text txt rdacontent computer c rdamedia online resource cr rdacarrier Includes bibliographical references and index. Preface; Acknowledgements; About the Author; List of Figures; List of Tables; List of Boxes; Chapter 1: Derivatives and the Wealth of Nations; What are Derivatives?; A Brief History of Derivatives; Derivatives and the Wealth of Nations; Organization of the Book; Bibliography; PART I: FORWARDS; Chapter 2: Showa Shell Sekiyu K.K.; "Shell-Shocked By Shell Games": The Showa Shell Debacle; Hedging Currency Risk at Oil Companies; The Mechanics of Hedging Dollar Exchange Rate Risk and Oil Price Risk; Was Showa Shell Hedging or Speculating?; Concealing Currency Losses; The Story Unfolds Forecasting Exchange Rates: Treacherous at BestThe Moral of the Story; Questions for Further Discussion; Chapter 3: Citibank's Forex Losses; Currency Trading in the Tranquil Days of BrettonWoods; Gambling on Currencies with Forward Contracts; How Do Banks Keep a Lid on Their Foreign Exchange Trading Operations?; Speculating from a Commercial Bank's Trading Desk: When Citibank is Not Quite a Hedge Fund à La Georges Soros; Hasty and Costly Conclusion; The Moral of the Story; QUESTIONS FOR DISCUSSION; Chapter 4: Bank Negara Malaysia; What is Central Banking All About? Bank Negara as a Macro-Hedge FundHow Did Bank Negara Speculate?; PART II: FUTURES; Chapter 5: Amaranth Advisors LLC; The Rise and Fall of Amaranth Advisors LLC; Genesis of Natural Gas Derivatives; A Primer on Speculating in Natural Gas Derivatives; The Alchemy of Speculation Through Natural Gas Futures; The Story Unfolds: Amaranth Speculative Assault on Nymex; Risk Management at Amaranth; The Moral of the Story; Postscript; Questions for Discussion; Chapter 6: Metallgesellschaft; The Metallgesellschaft Debacle; The "Long and Short" of Hedging in the Oil Market Numerical Illustration of "Ebbs & Flows" Under a "Stack & Roll" HedgeThe "Message is in the Entrails": Empirics of the Oil Market (1983-2002); If Only MGRM had been Allowed to Roll the Dice; When a Hedge is a Gamble: Was MGRM Hedging or Speculating?; MGRM as a Market Maker; The Moral of the Story; Bibliography; Questions for Discussion; Chapter 7: Sumitomo; Was Sumitomo Manipulating Copper Prices?; Alarm Bells; Debacle; Postscript; PART III: OPTIONS; Chapter 8: Allied Lyons; A New Mission for Allied Lyons Treasury Department A Primer on Currency Options: Was Allied Lyons Hedging or Speculating?Selling Volatility: Allied-Lyons "Deadly Game"; Alarm Bells are Ignored as the Story Unfolds; The Moral of the Story; Appendix: Pricing Currency Options; Chapter 9: Allied Irish Banks; Rusnak and Currency Trading at Allfirst; Gambling on Currencies with Forward Contracts; Arbitraging the Forward and Option Market: The International Put-Call Parity Theorem; The Art of Concealment; When Alarm Bells are Ignored; The Moral of the Story; Epilogue; Bibliography; Questions for Discussion; Chapter 10: Barings "This book analyzes in depth all major derivatives debacles of the last half century including the multi-billion losses and/or bankruptcy of Metallgesellschaft (1994), Barings Bank (1995), Long Term Capital Management (1998), Amaranth (2006), Société Générale (2008) , AIG (2008) and JP Morgan-Chase (2012). It unlocks the secrets of derivatives by telling the stories of institutions which played in the derivative market and lost big. For some of these unfortunate organizations it was daring but flawed financial engineering which brought them havoc. For others it was unbridled speculation perpetrated by rogue traders whose unchecked fraud brought their house down. Should derivatives be feared "as financial weapons of mass destruction" or hailed as financial innovations which through efficient risk transfer are truly adding to the Wealth of Nations? By presenting a factual analysis of how the malpractice of derivatives played havoc with derivative end-user and dealer institutions, a case is made for vigilance not only to market and counter-party risk but also operational risk in their use for risk management and proprietary trading. Clear and recurring lessons across the different stories in this volume call not only for a tighter but also "smarter" control system of derivatives trading and should be of immediate interest to financial managers, bankers, traders, auditors and regulators who are directly or indirectly exposed to financial derivatives. The book groups cases by derivative category, starting with the simplest and building up to the most complex -- namely, Forwards, Futures, Options and Swaps in that order, with applications in commodities, foreign exchange, stock indices and interest rates. Each chapter deals with one derivative debacle, providing a rigorous and comprehensive but non-technical elucidation of what happened. What is new in the second edition? A new chapter on JP Morgan-Chase's London Whale, an in-depth discussion of credit-default swaps, and an update of the revamped regulatory framework with Basel 2.5 and Basel III against the backdrop of the Euro crisis, along with a revised and expanded discussion of the AIG debacle."-- Provided by publisher. Online resource; title from PDF title page (EBSCOhost, viewed August 10, 2020). Derivative securities. http://id.loc.gov/authorities/subjects/sh93005704 Finance. http://id.loc.gov/authorities/subjects/sh85048256 Instruments dérivés (Finances) Finances. finance. aat BUSINESS & ECONOMICS Finance. bisacsh Derivative securities fast Finance fast has work: Global derivative debacles (Text) https://id.oclc.org/worldcat/entity/E39PCH3XKXcvtgQBdJ6mDFF6gC https://id.oclc.org/worldcat/ontology/hasWork Print version: Jacque, Laurent L. Global derivative debacles. Second edition. New Jersey : World Scientific, [2015] 9789814663243 (DLC) 2015005685 (OCoLC)904335814 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1022261 Volltext |
| spellingShingle | Jacque, Laurent L. Global derivative debacles : from theory to malpractice / Preface; Acknowledgements; About the Author; List of Figures; List of Tables; List of Boxes; Chapter 1: Derivatives and the Wealth of Nations; What are Derivatives?; A Brief History of Derivatives; Derivatives and the Wealth of Nations; Organization of the Book; Bibliography; PART I: FORWARDS; Chapter 2: Showa Shell Sekiyu K.K.; "Shell-Shocked By Shell Games": The Showa Shell Debacle; Hedging Currency Risk at Oil Companies; The Mechanics of Hedging Dollar Exchange Rate Risk and Oil Price Risk; Was Showa Shell Hedging or Speculating?; Concealing Currency Losses; The Story Unfolds Forecasting Exchange Rates: Treacherous at BestThe Moral of the Story; Questions for Further Discussion; Chapter 3: Citibank's Forex Losses; Currency Trading in the Tranquil Days of BrettonWoods; Gambling on Currencies with Forward Contracts; How Do Banks Keep a Lid on Their Foreign Exchange Trading Operations?; Speculating from a Commercial Bank's Trading Desk: When Citibank is Not Quite a Hedge Fund à La Georges Soros; Hasty and Costly Conclusion; The Moral of the Story; QUESTIONS FOR DISCUSSION; Chapter 4: Bank Negara Malaysia; What is Central Banking All About? Bank Negara as a Macro-Hedge FundHow Did Bank Negara Speculate?; PART II: FUTURES; Chapter 5: Amaranth Advisors LLC; The Rise and Fall of Amaranth Advisors LLC; Genesis of Natural Gas Derivatives; A Primer on Speculating in Natural Gas Derivatives; The Alchemy of Speculation Through Natural Gas Futures; The Story Unfolds: Amaranth Speculative Assault on Nymex; Risk Management at Amaranth; The Moral of the Story; Postscript; Questions for Discussion; Chapter 6: Metallgesellschaft; The Metallgesellschaft Debacle; The "Long and Short" of Hedging in the Oil Market Numerical Illustration of "Ebbs & Flows" Under a "Stack & Roll" HedgeThe "Message is in the Entrails": Empirics of the Oil Market (1983-2002); If Only MGRM had been Allowed to Roll the Dice; When a Hedge is a Gamble: Was MGRM Hedging or Speculating?; MGRM as a Market Maker; The Moral of the Story; Bibliography; Questions for Discussion; Chapter 7: Sumitomo; Was Sumitomo Manipulating Copper Prices?; Alarm Bells; Debacle; Postscript; PART III: OPTIONS; Chapter 8: Allied Lyons; A New Mission for Allied Lyons Treasury Department A Primer on Currency Options: Was Allied Lyons Hedging or Speculating?Selling Volatility: Allied-Lyons "Deadly Game"; Alarm Bells are Ignored as the Story Unfolds; The Moral of the Story; Appendix: Pricing Currency Options; Chapter 9: Allied Irish Banks; Rusnak and Currency Trading at Allfirst; Gambling on Currencies with Forward Contracts; Arbitraging the Forward and Option Market: The International Put-Call Parity Theorem; The Art of Concealment; When Alarm Bells are Ignored; The Moral of the Story; Epilogue; Bibliography; Questions for Discussion; Chapter 10: Barings Derivative securities. http://id.loc.gov/authorities/subjects/sh93005704 Finance. http://id.loc.gov/authorities/subjects/sh85048256 Instruments dérivés (Finances) Finances. finance. aat BUSINESS & ECONOMICS Finance. bisacsh Derivative securities fast Finance fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh93005704 http://id.loc.gov/authorities/subjects/sh85048256 |
| title | Global derivative debacles : from theory to malpractice / |
| title_auth | Global derivative debacles : from theory to malpractice / |
| title_exact_search | Global derivative debacles : from theory to malpractice / |
| title_full | Global derivative debacles : from theory to malpractice / Laurent L. Jacque, Tufts University, USA & HEC School of Management, France. |
| title_fullStr | Global derivative debacles : from theory to malpractice / Laurent L. Jacque, Tufts University, USA & HEC School of Management, France. |
| title_full_unstemmed | Global derivative debacles : from theory to malpractice / Laurent L. Jacque, Tufts University, USA & HEC School of Management, France. |
| title_short | Global derivative debacles : |
| title_sort | global derivative debacles from theory to malpractice |
| title_sub | from theory to malpractice / |
| topic | Derivative securities. http://id.loc.gov/authorities/subjects/sh93005704 Finance. http://id.loc.gov/authorities/subjects/sh85048256 Instruments dérivés (Finances) Finances. finance. aat BUSINESS & ECONOMICS Finance. bisacsh Derivative securities fast Finance fast |
| topic_facet | Derivative securities. Finance. Instruments dérivés (Finances) Finances. finance. BUSINESS & ECONOMICS Finance. Derivative securities Finance |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1022261 |
| work_keys_str_mv | AT jacquelaurentl globalderivativedebaclesfromtheorytomalpractice |