Book Description
The implementation of sound quantitative risk models is a vital concern for all financial institutions, and this trend has accelerated in recent years with regulatory processes such as Basel II. This book provides a comprehensive treatment of the theoretical concepts and modelling techniques of quantitative risk management and equips readers--whether financial risk analysts, actuaries, regulators, or students of quantitative finance--with practical tools to solve real-world problems. The authors cover methods for market, credit, and operational risk modelling; place standard industry approaches on a more formal footing; and describe recent developments that go beyond, and address main deficiencies of, current practice.
The book's methodology draws on diverse quantitative disciplines, from mathematical finance through statistics and econometrics to actuarial mathematics. Main concepts discussed include loss distributions, risk measures, and risk aggregation and allocation principles. A main theme is the need to satisfactorily address extreme outcomes and the dependence of key risk drivers. The techniques required derive from multivariate statistical analysis, financial time series modelling, copulas, and extreme value theory. A more technical chapter addresses credit derivatives. Based on courses taught to masters students and professionals, this book is a unique and fundamental reference that is set to become a standard in the field.
Customer Reviews:
Excellent for statisticians.......2007-08-03
This book is more like Mathematical Statistics for Risk Management. It covers some reviews of standard mathematical stat and some advanced and latest materials as well as applications in risk management. But as some other reviewers already mentioned, the focus is on the statistics and probability for risk management rather than the business context. And it is written in a rather formal theorem-proof format which, to some extent, could have been simplified for other audiences. It is excellent for someone with heavy stat background such as MS/PhD in statistics or PhD in Finance.
Another book that is a bit easier to read that covers Stat and Finance well with business context is: Statistics and Finance: An Introduction, which includes more than financial risk management.
Software implementation available for S-Plus and R.......2007-07-24
Although not obvious, there is software available to implement the functionality described mathematically in the book. Alexander McNeil provides S-Plus code on his personal website, and there is an R port of that code on CRAN called QRMlib. Most of the provided software is on fitting fat-tailed distributions. This is all very useful in practice, if you care to be statistically precise. Unfortunately, many practitioners would clearly prefer rules of thumb to quantitative methods only usable with statistical software that doesn't run in Excel. Excellent theoretical text with solid backing software.
Good for academia, bad for practice.......2007-06-08
This is a typical theoretical book. With all pros and cons around that statement. As a mathematician I found it well written in terms of math introduction to the subject. BUT I would never recommend that book for the practical learning. It is SO FAR away from the practical quants everyday job, that one would never use that book. 3 stars= 5/2(theory)+1/2(practice)
Very good.......2007-02-13
I found this book very interesting and well written, but not for all readers. It covers all quantitative risk management topics with a good mathematical approach: this could be a great textbook for general risk management courses, and it give importance to EVT technics, mulivariate models and copula-modelling. The treatment of market risk is complete and exhaustive, and a good actuarial approach for credit risk can be found too. The operational risk chapter is poor, it gives only an introductive section for it and for actuarial models.
It requires a good mathematical background to be well understand, but it is a great book to introduce the whole quantitative risk management theory.
very well written.......2006-02-16
It's a very well written self-contained yet compact "QUANTITATIVE" risk management book. Just as the title, it gives a comprehensive and in-depth coverage of the concepts, techniques and tools, applicable in modeling equity, credit, or operational risk. The writing style is clear and rigorous; it serves a good reference book.
Book Description
This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on April 19, 2004. The length of the article is 1200 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: 9/11 spotlights business interruption threat: what is the art and science of establishing the accurate limit of coverage?(RM Tools & Techniques)
Author: Diana Reitz
Publication:
National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: April 19, 2004
Publisher: The National Underwriter Company
Volume: 108
Issue: 15
Page: 40(2)
Distributed by Thomson Gale
Book Description
This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on May 24, 2004. The length of the article is 1257 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: D&O puts RMs on hot seat.(Tools & Techniques)(directors' and officers' liability insurance and risk management )
Author: Diana Reitz
Publication:
National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: May 24, 2004
Publisher: The National Underwriter Company
Volume: 108
Issue: 20
Page: 42(2)
Distributed by Thomson Gale
Average customer rating:
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Employees choose riskier travel modes.(R&M Tools & Techniques): An article from: National Underwriter Property & Casualty-Risk & Benefits Management
Diana Reitz
Manufacturer: The National Underwriter Company
ProductGroup: Book
Binding: Digital
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ASIN: B0008E1WY6
Release Date: 2005-07-31 |
Book Description
This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on October 13, 2003. The length of the article is 1353 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: Employees choose riskier travel modes.(R&M Tools & Techniques)
Author: Diana Reitz
Publication:
National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: October 13, 2003
Publisher: The National Underwriter Company
Volume: 107
Issue: 41
Page: 31(2)
Distributed by Thomson Gale
Book Description
This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on January 26, 2004. The length of the article is 1071 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: How can buyers & brokers become a match made in heaven?(Risk management: tools & techniques)
Author: Diana Reitz
Publication:
National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: January 26, 2004
Publisher: The National Underwriter Company
Volume: 108
Issue: 3
Page: 14(2)
Distributed by Thomson Gale
Book Description
This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on July 19, 2004. The length of the article is 983 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: Joint & several liability haunts self-insured groups.(RM Tools & Techniques)
Author: Diana Reitz
Publication:
National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: July 19, 2004
Publisher: The National Underwriter Company
Volume: 108
Issue: 27
Page: 28(2)
Distributed by Thomson Gale
Book Description
This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on September 6, 2004. The length of the article is 1091 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: Loss portfolio transfers can bolster buyers: self-insureds smooth out peaks and valleys of claim payments, clear out liabilities.(RM Tools & Techniques)
Author: Diana Reitz
Publication:
National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: September 6, 2004
Publisher: The National Underwriter Company
Volume: 108
Issue: 33
Page: 31(2)
Distributed by Thomson Gale
Book Description
This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on March 7, 2005. The length of the article is 1043 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: New rules can avoid problems with brokers.(RM Tools & Techniques)
Author: Diana Reitz
Publication:
National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: March 7, 2005
Publisher: The National Underwriter Company
Volume: 109
Issue: 9
Page: 33(2)
Distributed by Thomson Gale
Book Description
Natural Enemies: An Introduction to Biological Control gives a thorough grounding in the biological control of arthropods, vertebrates, weeds, and plant pathogens through use of natural enemies. The book is intended for undergraduate students and others wishing to learn the basics of biological control. Ann Hajek discusses the reasons why biological control is used, and describes different use strategies and associated safety issues, as well as how best to integrate biological control with other types of pest management. She goes on to describe the basic biology of the different types of natural enemies, and gives examples of successful biological control programs. Throughout this book the ecological relationships that make control possible are emphasized and the major strategies for the use of different types of natural enemies detailed, with discussions of the specific conditions under which each strategy is successful in controlling pests.
Average customer rating:
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Control of Pests and Weeds by Natural Enemies: An Introduction to Biological Control
Roy Van Driesche ,
Mark Hoddle , and
Ted Center
Manufacturer: Blackwell Publishing, Incorporated
ProductGroup: Book
Binding: Paperback
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ASIN: 1405145714 |
Book Description
Among the most influential, world-renowned scientists during the early decades of the twentieth century was the Dutch astronomer Jacobus Cornelius Kapteyn (1851-1922). Kapteyn's influence resulted from and contributed to the golden age of Dutch science. In the words of the brilliant English astrophysicist, Arthur S. Eddington: `Holland has given many scientific leaders to the world: it is doubtful whether any other nation in proportion to its size can show so fine a record. J.C. Kapteyn was among the most distinguished of its sons -- a truly great astronomer'.
The present text is an English translation of Kapteyn's 1928 (Dutch) biography by his daughter Henrietta Hertzsprung-Kapteyn. While the original biography suffers from -- but in many ways is also enriched by -- the emotional excesses of a loving daughter writing of her famous father, this new translation provides an annotated assessment of Kapteyn as family man, scientist and world leader. This new volume also opens up to a much wider reading public many of the enormously rich contributions, not only of Kapteyn the man but also of the Dutch, to the emergence of astronomy as a major intellectual force in the world. Perhaps equally important, the translated biography reproduces many biographical and technical details from Kapteyn's correspondence with numerous other scientists and scholars. Access to the Kapteyn biography becomes an archival treasure for future studies dealing with Kapteyn himself, as well as with the history of both modern and Dutch astronomy and with the rise of international astronomy.
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