Book Description
An in-depth look at financial risk management
Advanced Financial Risk Management integrates interest rate risk, credit risk, foreign exchange risk, and capital allocation using a consistent risk management approach. It explains, in detailed, yet understandable terms, the analytics of these issues from A to Z. Written by experienced risk managers, this book bridges the gap between the idealized assumptions used for valuation and the realities that must be reflected in management actions. It covers everything from the basics of present value, forward rates, and interest rate compounding to the wide variety of alternative term structure models.
Donald R. Van Deventer (Hawaii) founded the Kamakura Corporation in April 1990 and is currently President. In 2003, he was voted into the Risk Hall of Fame for having made a profound contribution to the field of risk management. Kenji Imai (Hawaii) heads Software Development for Kamakura and participates in selected Japan-related financial advisory assignments. Mark Mesler (Hawaii) heads the information production for Kamakura Risk Information Services.
Customer Reviews:
Great Book for serious reader.......2007-06-29
This book is written by professionals for professionals. Period.
Unless you are serious about risk management, you will not care about some of the little details covered by this book. When you do, you will really appreciate this book.
Formulas are well places, examples are real life relevent, well written. I fell in love with this book when I first read this book.
Introduction to the KRM.......2006-11-19
Risk management, as the authors define it, delineates for the management of a firm the risks and returns of every strategic decision at the institutional and transactional levels. It indicates how the management must change a particular strategy with the goal of aligning the trade-off between risk and return with the optimal long and short-term goals of the firm. If one desires an in-depth quantitative understanding of risk management as it is practiced at the present time, this book offers a comprehensive and useful overview. Although the authors are clearly showing bias towards a particular tool used for risk management, namely the Kamakura Risk Manager @ product which they helped to develop and market, the reader still gains insight into the relevant factors that go into successful risk management and will understand just how challenging this field is. The book is geared towards the student, for there are usually exercises at the end of each chapter. The goal of the book is very ambitious, in that the authors attempt to integrate credit, market, and operational risk, along with asset and liability management, performance measurement, and transfer pricing into a single framework. The justification for this integration is given as the book unfolds, and because of this the reader may frequently feel impatient, and thus tempted to skip ahead. However, readers who do this will miss out on the interesting argumentation and historical analysis the authors give, with each chapter setting up next. There is therefore a heavy dependence between chapters, and this makes a "skim read" more difficult, at least from the standpoint of in-depth comprehension of the subject matter. Those readers who are not experts in risk management, such as this reviewer, but who have a sound background in probability theory, stochastic processes, and financial engineering (at the level of the Black-Scholes model) will find this book ideal. Options theory plays a central role in the book, as the authors propose that the Jarrow-Merton put option is the best comprehensive measure of integrated credit, interest rate, and foreign exchange risk. The authors believe that risk management should make no distinction between credit risk, market risk, operational risk, asset and liability management, performance measurement, and transfer pricing.
The authors begin the book by discussing the difference between risk management from the standpoint of net income and from the standpoint of mark-to-market, and how a failure by some financial institutions to adopt the latter caused them great pain. Their historical commentary on this topic is enlightening for it gives insight into some of the biases concerning risk that exist even at the present time. For this reviewer, one of the most interesting discussions in the book concerned the transaction cost approach to prepayment modeling in asset-backed securities. In this approach, the authors divide the borrowers into three classes, with the first being those who make prepayments even when they should not. The second class are borrowers who prepay at a time when the advantages of prepayment exceeds the transaction costs of doing so. The third class are those borrowers who make prepayments when advantageous to do so, even though in the past they have refrained from doing so. Following the book's paradigm, the authors formulate the prepayment model in terms of options, with the value of the option to prepay being calculated from observable market data. The authors claim that this approach fits the movements in loan prices better than the approaches based on prepayment speeds and prepayment tables, but they do not offer explicit evidence for this claim. In fact throughout the book there are many instances where the authors do not offer any real case studies that would illustrate the superiority of their approach and the use of the Kamakura Risk Manager@. Risk analysts and managers will insist on the availability of these studies before committing themselves and institutional resources to this product or any others that make such claims.
The book should not be viewed therefore as purely a "theoretical" overview of risk management techniques. The authors give examples illustrating the main principles. For example, in their discussion of one-period models they assert that a collection of homogeneous risks are not sufficient, since the likelihood, magnitude, and timing of risks are closely linked. As examples, they quote the debacles in the U.S. Savings and Loan and Long Term Capital Management, and the takeover of Security Pacific Corporation by Bank of America. They also give examples of 'selection bias' in measuring risk.
Many interesting questions are addressed in the book, such as: 1. Why are 'fat-tailed' events important in risk analysis? 2. What is 'transfer pricing' and why is it useful? 3. Should risk be measured in terms of the volatility of the mark-to-market value of the relevant portfolio or in terms of the volatility of the net income? 4. How large should risk limits be for each part of a financial institution? 5. How is the mark-to-market value of a portfolio measured? 6. How is tracking error measured? 7. How is a hedging strategy to be priced? 8. What advantages, if any, are there in using Monte Carlo simulations of returns over a chosen time horizon? 9. What are the implications to credit risk of the new Basel II accords? 10.Why are stress tests important in a hedging strategy? 11.What area of the financial organization should be responsible for credit risk?
The authors also give a thorough discussion of yield curve smoothing, and how to derive the zero-coupon bond prices from observable data. The method of splines seems to be their preferred method of choice as a smoothing technique, which they advertise as being one that allows the calculation of zero-coupon bond prices for a large number of payment dates. They show, interestingly, that a cubic spline of zero-coupon bond yields is the smoothest yield curve.
Great book on the subject. A must have........2006-05-11
I think this book is a must have for everyone involved in managing or supervising interest rate risk. The authors are clear in their explanations and light to read, but they also get in-depth in several technical aspects.
I am a banking supervisor and I had been lookin for a book on this subject for a while, specially one with an emphasis on managing interest rate risk since the Basel committee has very few pointers on this.
The book tackles the most common problems, including the managerial aspects, as well as the techniques frequently used for modelling things like deposits (DDAs), revolving credit and a product by product guide to financial instruments, and much, much more. Definitely a must have, if you can browse through a few sections or the index and you will quickly see what I mean.
Book Description
Email has changed all the rules.
Not a formal business letter, not a face to face (F2F) conversation, not a telephone call or a fax, email is both, all, and none of the above. More like a postcard but without the perfect photo, email offers the skilled writer the unique opportunity to make a great impression, command respect, influence others, make the sale, and boost success. This booklet will show you how to differentiate yourself, your service, or your product and how to feel confident and comfortable about what you "put in writing."
Customer Reviews:
Disappointed!.......2005-04-01
I could have typed this book in 20 minutes. I can't beleive I paid 6.95 + s&h for this. One of the tips was something like "be Polite" and that was it. The book doesn't even weigh one oz. and it came in this big box. I thought the book was the invoice. If the book was single spaced you could have it in 3 pages. Well, I learned a lesson but the 93 tips are just plain common sense.
Book Description
The global significance of tourism as an economic, environmental, and social force has never been greater. Modern methods of transportation enable growing numbers of people to travel to almost any area of the world; in the developed world, travel is now regarded as a right, rather than a privilege.
Based on proven marketing principles, Marketing Tourism Destinations defines tourism and its "product" and examines the nature of tourist businesses, with an emphasis on planning for tourism development. Comprehensive, readable chapters discuss such topics as:
- Regional goal and strategy formulation
- The strategic marketing planning framework
- Environment and resource analysis
- Target marketing and regional positioning strategy
- Regional marketing mix strategy
and more, with cases and examples applicable to different parts of the world.
From its thorough introduction, through each extensively referenced section to the final summary chapter with its valuable recommendations for regional tourism organizations, Marketing Tourism Destinations is an important step forward in the literature of tourism marketing and planning.
Average customer rating:
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Where Do I Go from Here?: Getting a Life after High School
Esther Drill ,
Heather McDonald , and
Rebecca Odes
Manufacturer: Penguin (Non-Classics)
ProductGroup: Book
Binding: Paperback
 Creativity
| Self-Help
| Health, Mind & Body
| Subjects
| Books
Motivational
| Self-Help
| Health, Mind & Body
| Subjects
| Books
General
| Sociology
| Social Sciences
| Nonfiction
| Subjects
| Books
College Guides
| Education
| Reference
| Subjects
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Deal with It! A Whole New Approach to Your Body, Brain, and Life as a gURL
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The Looks Book
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Goodbye High School, Hello World
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Your Life, After High School
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Countdown to College: 21 To Do Lists for High School : Step-By-Step Strategies for 9th, 10th, 11,th and 12th Graders
ASIN: 0142002143
Release Date: 2004-02-03 |
Book Description
Colorfully exploring the paths people take and the decisions they make in their post-high school years, Where Do I Go from Here is designed to complement the big college reference books. This resource will present the human side of college life by offering inside advice and inspiration to girls facing an important crossroads.
Customer Reviews:
Very Helpful.......2007-03-19
Oh man this book is great. It has answers to every possible concern that you may think about when wondering what to do after high school. I highly recommend this book. It helped me narrow down my options and make a choice that I do not regret.
Product Description
In this second Simone Dickerson novel she decided that she has had her share of heartache, but is determined to not let it get the best of her. She has reunited with her first "real" love, Ricky Ray, and they will take it one day at a time.
Book Description
This guidebook and workbook resembles a self-contained set of workshops with a career counselor. Informative for the practicing nurse who is thinking about a professional change of direction, or the nurse in mid-career looking for somewhere new to apply the clinical skills and experience of nursing, it offers helpful exercises and encouraging stories from nurses who are in another place with their careers. Areas explored include medicine, law, psychology, complementary therapies, management, sales and marketing, and more. Provides practical steps to implement transition. Extensive appendices list resources and references, and contact information to promote and inspire the nurse's action plan.
Customer Reviews:
Considers alternatives particular to the clinical nurse.......2002-06-06
Nurses and any involved in the medical profession can explore career alternatives within and beyond clinical nursing with Hafner's Where Do I Go From Here?, which considers alternatives particular to the clinical nurse. From forensic and camp nursing to traveling nursing and alternative health care practices, Where Do I Go From Here? is packed with intriguing alternatives.
Customer Reviews:
Yowza!.......2005-03-01
The story is about a girl named Nia who feels like an ousider at her all white school. And the only friends she has is a boy named Marcus Garvey Williams. But when he suddenly dissapears, Nia gets in a fist-fight with a student defending his name. Now Nia dosn't no what to do with her life now that she is suspended. Do you think Nia is going to get her life back on track? To find out that question read, "Where Did I Go From Here". I really liked this book because the author really knows how to relate to people and she was really straight forward and didn't hold anything back. Books related to this is "Bud Not Buddy". Because his parents left him when he was a baby and now since he lives with his grandmother he dosn't know what to do with his life eathier just like Nia.
Where do I go From Here?.......2003-11-14
Things at Endicott Academy were never freat but thy wern't exactly horrible, either. Nia didn't really feel comfortable at the academy. She didn't fit. This book is belivably intresting and satisfying! Tis novel by Valerie Wesley is a fun, entertaining...read for the young adult.i think that you should read this book!
A great interesting , realistic novel for book lovers!.......1999-10-26
Imagine having to leave your home and go off to a school where there are not many of your kind. Nia had to go through that. The novel, Where Do I Go From Here?, by Valerie Wilson Wesley, is about a black girl who had to leave and go to a highschool where she feels like an outsider. Nia wasn't nich nor was she white like many other people at her school. Nia found a friend, Marcus Garvey Willians, who was like her. Even though Marcus is black he has found a way to fit in and still be himself.
I give is novel five stars because it is interesting and realistic. As one of the characters, Nia has to be the most exciting. Nia wasn't interesring because she was blowing up someone's house or anything. The story was just as exciting as an action packed book, but in a different way. Nia was interesting because of the kind of person she was. At the end Marcus helped Nia realize the importance of her life, and also gain a new respect for it.
Average customer rating:
- Where Do I Go from Here: Making the Right Decisions in Life
|
Where Do I Go from Here: Making the Right Decisions in Life
Nicholas Comninellis
Manufacturer: New Leaf Press (AR)
ProductGroup: Book
Binding: Hardcover
General
| Christian Living
| Christianity
| Religion & Spirituality
| Subjects
| Books
General
| Religion & Spirituality
| Subjects
| Books
Gifts
| Spirituality
| Religion & Spirituality
| Subjects
| Books
ASIN: 0892215151 |
Book Description
Life is full of decisions -- both major and minor. Should I take this job? Should I go to college? This book is especially aimed at young people and the decision-making processes of their lives. Its goal is to help young people become more effective by focusing on the right motives, looking ahead to potential outcomes, and ultimately turning to Jesus Christ for guidance.
Customer Reviews:
Where Do I Go from Here: Making the Right Decisions in Life.......2003-01-16
I have a son about to graduate from High School. I saw this book in the book store and glanced through it and liked what I read. I bought it and read it in about 30 minutes before giving it to him to read. This book is an excellent book for someone who is about to make a major decision in their life. It tells them exactly the correct process to use to make the right choices. I recommend this book especially for people who do not really like to read much. It gets to the point and is a very easy read.
Average customer rating:
- A guide to vocation and career drawing on spiritually
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Where Do I Go From Here? An Inspirational Guide To Making Authentic Career and Life Choices
KENNETH C. RUGE
Manufacturer: McGraw-Hill Book Company
ProductGroup: Book
Binding: Paperback
Motivation & Self-Improvement
| Business Life
| Business & Investing
| Subjects
| Books
Guides
| Job Hunting & Careers
| Business & Investing
| Subjects
| Books
General
| Self-Help
| Health, Mind & Body
| Subjects
| Books
Motivational
| Self-Help
| Health, Mind & Body
| Subjects
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General
| Psychology & Counseling
| Health, Mind & Body
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Comparative Religion
| Religious Studies
| Religion & Spirituality
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General
| Spirituality
| Religion & Spirituality
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Business
| Christian Living
| Christianity
| Religion & Spirituality
| Subjects
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Soul Mapping: An Imaginative Way to Self-Discovery
ASIN: 0070589844 |
Book Description
A practical and spiritual roadmap, filled with uplifting anecdotes that educate as well as motivate, this book is a must for those who want to infuse their lives and work with new meaning. Through thought-provoking commentary and illuminating exercises, Dr. Ruge helps you to let go of limiting beliefs, conquer fear, and discover a deeper sense of true identity. He then explains how to translate this new insight into the reality of leading the life you were meant to live.
Customer Reviews:
A guide to vocation and career drawing on spiritually.......1998-03-23
Kenneth Ruge has written a wonderful, easy to follow guide that is very compelling and hard to put down. Were do I Go From Here? has assisted me and many of my friends in breaking through the barriers of limiting past memories to allow a fresh and effective way to spiritually explore our gifts and talents. This book has also helped me identify those things which I am passonate about and has assisted me in finding ways to apply them in my current job. I feel a renewed ability to look at my career path as a wonderful journey and I am no longer afraid to follow a new path or direction. Ruge's book has taught me to trust myself.
Book Description
This digital document is an article from Planning, published by American Planning Association on June 1, 2000. The length of the article is 2568 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: Where Am I and Where Do I Go From Here?
Author: Warren W. Jones
Publication:
Planning (Magazine/Journal)
Date: June 1, 2000
Publisher: American Planning Association
Volume: 66
Issue: 6
Page: 18
Distributed by Thomson Gale
Books:
- Against the Conventional Wisdom: A Primer for Current Economics Controversies and Proposals
- ALEXANDER HAMILTON'S PAPERS ON PUBLIC CREDIT COMMERCE AND FINANCE
- Applied Statistics For Engineers and Scientists Using Microsoft Excel and MINITAB (With CD-ROM)
- Basic Principles of Economic Value
- Basics of Mortgage-Backed Securities (Frank J. Fabozzi Series)
- Capital Ideas: The Improbable Origins of Modern Wall Street
- Communities And Workforce Development
- Comparative Civilizations and Multiple Modernities
- Computer-Aided Econometrics (Statistics: a Series of Textbooks and Monogrphs)
- Construction Funding: The Process of Real Estate Development, Appraisal, and Finance
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