Written by a physicist with extensive experience as a quant on Wall Street, this book treats a wide variety of topics. Presenting the theory and practice of quantitative finance and risk, it delves into the "how to" and "what it's like" aspects not covered in textbooks or research papers. A "Technical Index" indicates the mathematical level for each chapter.This second edition includes some new, expanded, and wide-ranging considerations for risk management: climate change and its long-term systemic financial risk; markets in crisis - new crisis prediction technique and the Reggeon field theory; new "Smart Monte Carlo" and American Monte Carlo; trend risk - time scales and risk, the Macro-Micro model, and singular spectrum analysis; credit risk: counterparty risk, wrong way risk, issuer risk, and regulations; stressed correlations - new "nearest neighbor" techniques; and psychology and option models.Solid risk management topics from the first edition and valid today are included: standard/advanced theory and practice in fixed income, equities, and FX; quantitative finance and risk management - traditional/exotic derivatives, fat tails, stressed VAR, model risk, numerical techniques, deals/portfolios, systems, data, economic capital, and function toolkit; risk lab - the nuts and bolts of risk management from the desk to the enterprise; case studies of deals; Feynman path integrals, Green functions, and options; and "Life as a Quant" - communication issues, sociology, stories, and advice.
A major contribution to the environmental policy debate, this is the first book to examine the legal, technical, and planning initiatives employed in Europe to avoid land disposal of toxic waste. Although largely ignored in the U.S. until now, safer alternatives to land disposal exist in Europe. By studying and implementing the best of these methods, the authors argue, the United States can begin to resolve its own toxic waste problem, a problem that has reached crisis proportions.
The collapse of major corporations during the global financial crisis, major accidents, and strategic mistakes resulting from mismanagement, have highlighted the crucial role that bad decision making has in creating disasters.Â People are at the core of corporate success and failure.Â Researchers in behavioral psychology have discovered that individual persons and groups are not good at making decisions as they fall prey to human biases, giving rise to the term "people risk."Â
Risk management experts Keith Blacker and Patrick McConnell provide a business-friendly introduction to behavioral psychology, explaining how biases, illusions, and conflicts of interest can lead board members, managers, and employees to make potentially disastrous decisions.Â Using case studies and examples, the authors demonstrate how crucial people risk management is and how ineffective risk management can create crises.Â They also offer practical tips and tools for changing the culture and structure of organizations to better align people risks with corporate values and provide advice on managing the roles and responsibilities of those directly involved in overseeing risk and people management.
`A much-needed assessment of the crisis from the Latin American perspective. Juan Corradi provides a structural view of late capitalism and the necessary conditions for recovery and growth... Food-for-thought for those interested in the future of this region.' --- Alejandro Rausch, Consultant for Private Sector Development, Poverty, HD and MDGs Cluster, United Nations Development Program Regional Bureau for Latin America and the Caribbean
This handbook contains chapters covering a broad range of supply chain management issues written by leading experts in the field. It is aimed at researchers, students, engineers, economists and managers involved in supply chain management.