Book Description
Managing Bank Capital explains proven techniques available in the management of bank capital that will help maximize shareholder value. This second edition has been fully updated to incorporate significant developments, such as the modeling of credit risk, and includes new sections with more technical information and advanced analysis.
Customer Reviews:
Excellent overview and detail on economic capital for banks.......2006-09-06
I bought this book hoping it would quickly bring me up to speed on key concepts in Economic Capital in the financial institutions industry. This book was simple enough for a relative novice to follow, and went into enough detail that I think most people would get something out of it. I also thought the book was well organized-- each section had a summary chapter that explained what the subsequent chapters in that section would cover so you could quickly skim or deep dive on various topics. The book was a bit dated in the sections on Basel, since it was written before Basel II was completed. Overall, an excellent introduction to Economic Capital and I was happy with my purchase.
Helpful Concepts, Lacking Implementatin Steps.......2002-07-30
With all the attention paid to bank capital management, this book is helpful in describing the concepts. However, it is not quantitative enough. The step-by-step of capital allocation for a given asset class of varying risk levels is lacking. For example, how should the bank treat the sub-prime portion of its credit card or auto loans in the capital allocation? I wish it were more specific. Could Providian or Capital One have directed the capital away from high risk loans, had they followed the advice of the book?
A Must-Read Book for Shareholder Value Management.......1999-06-05
Chris Matten provides a comprehensive guide to applications of RAROC and shareholder value for managing bank capital and compensating bank executives and traders. The author provides particularly good sections on how EVA, shareholder value, and other earnings based measures can be manipulated and abused. This is not the sort of book which the corporate finance shareholder value crowd would likely read, but is one which they need to read.
Excellent only book on the economic allocation of capital........1998-04-26
Mr. Matten's insightful work highlights how rigid appliction of the Basle Accords can lead to capital misallocation. He then provides insightful suggestions, with good examples, on how to better allocate bank capital by discriminating between borrowers on the basis of risk, all the while remaining within the basle guidelines. Mr. Matten points to the need for sophisticated mathematical-statistical analysis but does not dwell on the technicalities, making the book accessible to non-rocket scientists. All in all, a highly recommended book.
Great book, but watch out for typos.......1997-12-16
For a comprehensive approach that brings the reader from Cooke through RAROC, this book is very good and has no competition . What basic explanations of statistics theory you need in order to follow the main 'story' is included discreetly, so advanced readers shouldn't be bothered by them. This being said, beware the errors -- they exist throughout: for the price that Wiley Press is able to get in light of the lack of competition from another good RAROC capital allocation book ($69 last year, $95 now), it hopefully has caught and corrected them. Caveat emptor.
Book Description
The most cutting-edge read on the pricing, modeling, and management of credit risk available
The rise of credit risk measurement and the credit derivatives market started in the early 1990s and has grown ever since. For many professionals, understanding credit risk measurement as a discipline is now more important than ever.
Credit Risk Measurement, Second Edition has been fully revised to reflect the latest thinking on credit risk measurement and to provide credit risk professionals with a solid understanding of the alternative approaches to credit risk measurement.
This readable guide discusses the latest pricing, modeling, and management techniques available for dealing with credit risk. New chapters highlight the latest generation of credit risk measurement models, including a popular class known as intensity-based models.
Credit Risk Measurement, Second Edition also analyzes significant changes in banking regulations that are impacting credit risk measurement at financial institutions. With fresh insights and updated information on the world of credit risk measurement, this book is a must-read reference for all credit risk professionals.
Anthony Saunders (New York, NY) is the John M. Schiff Professor of Finance and Chair of the Department of Finance at the Stern School of Business at New York University. He holds positions on the Board of Academic Consultants of the Federal Reserve Board of Governors as well as the Council of Research Advisors for the Federal National Mortgage Association. He is the editor of the Journal of Banking and Finance and the Journal of Financial Markets, Instruments and Institutions.
Linda Allen (New York, NY) is Professor of Finance at Baruch College and Adjunct Professor of Finance at the Stern School of Business at New York University. She also is author of Capital Markets and Institutions: A Global View (Wiley: 0471130494).
Over the years, financial professionals around the world have looked to the Wiley Finance series and its wide array of bestselling books for the knowledge, insights, and techniques that are essential to success in financial markets. As the pace of change in financial markets and instruments quickens, Wiley Finance continues to respond. With critically acclaimed books by leading thinkers on value investing, risk management, asset allocation, and many other critical subjects, the Wiley Finance series provides the financial community with information they want. Written to provide professionals and individuals with the most current thinking from the best minds in the industry, it is no wonder that the Wiley Finance series is the first and last stop for financial professionals looking to increase their financial expertise.
Customer Reviews:
Don't waste your time.......2002-12-08
Working in the banking industry I was turned on to this book by a colleague and what a colossal waste of time reading this was. The vast majority of this book's models are outdated and if Mr. Saunders was trying to write a historical piece he has accomplished that in spades. Nothing in this book is relevant and it is obvious the esteemed Mr. Saunders lent his name to a very poor book that he probably should have glanced through if not read. Linda Allen should probably get some real world experience because she is wasting people's time with her research.
Good intro, but not enough details.......2000-06-21
I have a copy of this book. It covers popular credit risk models and things like RAROC, etc. These concepts have been discussed extensively in the industry but I assume this is the first in the book form. The book does a good job in presenting basic ideas. However, if you are looking for technical details, you best bets are still the original technical documentations (CreditMetrics, CreditRisk+, KMV, etc). Nevertheless this book is a useful survey of the current stable of models. Besides, it is not very expensive.
Good intro, but not enough details.......2000-06-21
I have a copy of this book. It covers popular credit risk models and things like RAROC, etc. These concepts have been discussed extensively in the industry but I assume this is the first in the book form. The book does a good job in presenting basic ideas. However, if you are looking for technical details, you best bets are still the original technical documentations (CreditMetrics, CreditRisk+, KMV, etc). Nevertheless this book is a useful survey of the current stable of models. Besides, it is not very expensive.
RAROC.......1999-12-27
I like the part on RAROC and KMV, interesting boo
Book Description
Fully revised and updated from the highly successful previous edition, Risk Managment in Banking 2nd Edition covers all aspects of risk management, shedding light on the extensive new developments in the field. There is a new emphasis on current practice, as well as in-depth analysis of the latest in research and techniques. This edition has been expanded to include an in-depth discussion of credit risk models, asset and liability management, credit valuation, risk-based capital, VAR, loan portfolio management, fund transer pricing and capital allocation. Quantitative material is presented in more detail and the scope of the book has been expanded to include investment banking and other financial services.
Customer Reviews:
technical but with errors.......2004-03-30
It's easy to find what you need. If you are accessing the topic from scratch, it has some noisances you wouldn't like too much. There are many errors and also some sentences are not clear at all. One example? "Either the sovereign rating is one notch lower than the sovereign ratings, or it is the internal bank rating." Are you OK?
Great intro, but a bit repeatitive.......2002-11-22
Bessis' volume is an elementary introduction to the basic "concepts" of risk management in banking. This is by no mean a technical book and should be accessible to most people with high school maths background. Judging on the capacity to explain basic ideas in layman's term, this is an excellent book!
However, the author seems to be a bit repeatitive and some basic concepts are to be repeated a few times throughout the book. I find it annoying but others might well find it a desirable feature for a "textbook". On the other hand, although the book is full of diagrams and illustrations, a small number of them are quite puzzling, e.g. contain symbols which are nowhere defined and is probably up to the reader to guess!
Anyway, if it is the first book you'll ever read on this subject, I believe it is an excellent choice!
good overal beginner reference to risk management in banking.......2001-01-10
The book is very well structured and I think and excellent introduction to the risk management in banking. I bought this book as hope to give me some more detailed presepective of risk management, but after reading it I think it should be used as a side reading reference to finance courses that some of the universities offer today in risk management or financial engineering. The author covers almost everything that we should know in risk management if we are new to it. However, if you are more experienced with finance or risk management I think this could be potential waste of money. I also think that the book has a bit high price for what it offers.One of the main reasons is the fact that the book is written in an elementary/intermediate form. Even as an elementary/intermediate level book I think that there should have been more examples or applicable activities that one can acctually see how some aspects of risk management are applied in the real world. Yes, there are some examples but not to an extent as there should be especially in the field as risk management and finance, where more and more people read these kinds of books in order to see or find how they can apply the information in the book to some real time activities in the financial market or corporate institution.
If you are looking for some more concrete text with some serious derivation of mathematical formulas for finance and risk management, or some more detailed presentations (more complex to read) I think you should then consider buying some other book.
Structured well.......2000-06-26
The concepts are structured quite well and could serve as foundation for further studies in this area.
Excellent, but Overpriced, Reference on Bank Risk Management.......1999-05-02
This is an excellent book which I have found to be very useful. The book gets 5 stars for its content. The negative is that the book is overpriced, particularly when the publisher released a paperback version priced at less than half the price of the hardback version shortly after the hardback was published - hence the lower rating.
Average customer rating:
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Survival by Association: Supply Management Landscape of the Eastern Caribbean
Barbara M. Welch
Manufacturer: University of West Indies Press
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ASIN: 976640027X |
Book Description
Science has worked hard to piece together the story of the evolution of our world up to this point, but only recently have we developed the understanding and the tools to describe the entire life cycle of our planet. Peter D. Ward and Donald Brownlee, a geologist and an astronomer respectively, are in the vanguard of the new field of astrobiology. Combining their knowledge of how the critical sustaining systems of our planet evolve through time with their understanding of how stars and solar systems grow and change throughout their own life cycles, the authors tell the story of the second half of Earth's life. In this masterful melding of groundbreaking research and captivating, eloquent science writing, Ward and Brownlee provide a comprehensive portrait of Earth's life cycle that allows us to understand and appreciate how the planet sustains itself today, and offers us a glimpse of our place in the cosmic order.
Customer Reviews:
Very good read.......2007-09-17
Some parts of this book repeat several times (could have been edited better), but it is an eye opening book. The latest theories are represented here in a very logical progression. Very enjoyable and educational read.
Earth systems logical thoght processes........2006-07-11
The ideas exposed in this book may not be shared by all astrobiologists/scientists however I find its Earth systems approach highly valuable, taking the reader through the thinking process behind most current astrobiological hypothesis on the evolution of a habitable planet. Thus it is not the conclusions it reaches which I personally find of the highest value but its underlying logical thought process and the manner in which the author approaches as well the non specialized reader by ways of powerful analogies. Ihrenes 2006.
One of the best popular science books in print.......2006-01-03
I am not a scientist, but have an avid interest in science. In particular, I am fascinated by evolution, cosmology and astronomy. That's what makes this book so compelling. Few authors have been able to match such good writing with such compelling subject matter (Timothy Ferris has; notably, Stephen Hawking has not).
Yes, there are some editing errors, but they do not detract in any substantive way from the book.
The reviewer who indicated the authors were writing some political tome aimed at the global warming denialists, Republicans, etc. has obviously not read the book. If anything, Ward and Brownlee tend to skim over the short-term impact of human-introduced greenhouse gases. In fact, the book's sweeping timescale largely subsumes that issue. Where it is discussed, it is done so in an even-handed way. I do wish they would have added a chapter to hit harder the short-term consequences of human activity on the environment - not because I have a political agenda, but because I have an interest in the science of it.
Those minor criticisms aside, with Rare Earth, and now with this book, Ward and Brownlee have made major contributions to the public's understanding of their respective disciplines.
In short, I would say Life and Death and Rare Earth are two of the most influential books I have read in recent years.
Enjoyment from a dusty subject.......2005-06-11
While this book does have a few errors that should have been picked up before printing and distributing, the overall content of the book is fascinating and keeps the reader entertained throughout the entire reading experience. I used to read books to fall asleep, but I couldn't put this one down. Not only did they do a good job of helping you imagine what they are discussing, but they also made it understandable to the average Joe. I thought this book's concept of the whole subject, along with the manner in which it was presented was a compelling mixture. I would suggest this book to anyone who has the slightest curiosity about the future of our Earth.
Even though they end with a bleak and ravaged earth, there are many steps along the way that show how interesting the planet's demise will be, from a strictly observational view. The planet covered in ice, which has happened a few times in the past, is shown here as one of the greater signs of an "Apocalypse". Water levels recede from the shores and areas that can support life wither away and die completely. The monumentous changes in the weather across the globe affecting the biosphere in major ways. The authors do a spectacular job of bringing you to the scene and helping you imagine it for yourself. The future's lack of plants kills the animals that eat them. Some plants exist for a short while but are not a decent source of nutrients for the other living beings. Heavy winds tear across the plains, devastating the soil until those plants finally expire. The authors try to show how these things have already been set in to motion and could be starting to show as we speak. The number of plant species has begun its decline, heralding the beginning of animal extinctions, which we are not helping to avoid with the way we live on this earth.
Through their use of the language, along with their knowledge of Astrology, Biology, Chemistry, and Geology, they float you through time. From the beginning of the earth as a giant molten rock, they slowly show us how they believe the earth has come to be in its present form. We see life as we know it slowly fade as the authors take us into their vision of the abysmal future that awaits our gentle planet and all its inhabitants. With the past, present and future looking so grim, one is entranced by the words of these men.
The authors discuss the evolution of life on earth throughout the evolving environmental, geological and astrophysical conditions. Then project further in time, using these theoretical conditions, into the distant future. From climate changes and ice ages all the way up to the sun's eventual growth into what is known as a "White Dwarf." They discuss the theoretical effects on all forms of life in the earth's biosphere and on the earth itself. They do not really get into humanity's involvement. Humans have the ability to modify their environment for the better or for the worse. Based on the advances in science and technology over the past few hundred years, one could expect these advances to continue to grow well into the next few centuries. Humans may be able to prevent, if not delay, at least some of the abysmal consequences. The ultimate fate of humanity, as portrayed by the authors, does indeed look rather bleak; but time will tell how well we humans make out in the end.
I enjoyed being put in the moment that Ward and Brownlee were describing. I also enjoyed their take no heckling attitude, especially because I believe much more in scientific evidence than faith in something more powerful. The Authors' sense of perspective and their cynicism towards those who don't fully believe in the scientific evidence provide in their book allowed me a genuinely entertaining reading experience.
An entertaining and informative read.......2005-04-26
At the best of times, geology is probably a dry subject but the rewards for a story are great. Geology is a subject which has the capacity to incorporate just about any other branch of science - in an historical sense, and this is what Ward and Brownlee have set out to do! And the result is a fascinating example living up to Hutton's assessment, "The past is the key to the present" - and the future!
Combining their astrobiological and geological backgrounds enables Ward and Brownlee to examine recent research in both their disciplines to present a rather complete picture of how our planet evolved, and how it may end. For any geologist with an interest in SF, there may be very little new here. The only thing I was vaguely disappointed about was they didn't mention the role Antarctica plays in our current climate, preferring to attribute it all to the formation of the Himalayas. If there is anything that can be guaranteed in geology, it is that there is not one process acting at any one time causing things!
But that aside, I think the authors shone brilliantly at describing everything in a way which easily conjures up the imagery in your mind without being too verbose. Sometimes they use anologies, but most of the time, they used facts - and current facts as well! Kudos as well for looking into space for some speculation on what will happen to our planet - and galaxy - and how it impacts on life.(Would have liked to have had mention of our solar system bobbing up and down through the galactic plane and ice age/asteroid impact through time, but alas...)
I think the book only fell down towards the end there where they got a little bit waffly and little bit negative. Sure, they say, we are scientists and it is us who are reasonable and logical while Science Fiction is for the unrealistic, but... I still think humans have a long way to go with science and who knows what new twists in physics we'll unearth. Afterall, at one time, black holes didn't exits, then when they were proven to exist, nothing escaped their gravity well, and then even that got recently recanted. Just like in geology there are many process which result in an outcome, there are undoubtedly many more refinements to the laws of physics waiting to be discovered. At least the authors put forward some good ideas, even if they tended to rubbish them...
Overall though, a very interesting book; it paints a decent 'unifying' picture for those with an earth science interest, and it is simply fascinating and very understandable for those who are simply interested in science!
Average customer rating:
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The long goodbye: the end of life on earth.(Book Review): An article from: The Futurist
Lane Jennings
Manufacturer: World Future Society
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Release Date: 2005-07-31 |
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This digital document is an article from The Futurist, published by World Future Society on November 1, 2003. The length of the article is 702 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: The long goodbye: the end of life on earth.(Book Review)
Author: Lane Jennings
Publication:
The Futurist (Magazine/Journal)
Date: November 1, 2003
Publisher: World Future Society
Volume: 37
Issue: 6
Page: 61(2)
Article Type: Book Review
Distributed by Thomson Gale
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