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Informationen zum Autor WALTER V. "BUD" HASLETT JR., CFA, is Head, Risk Management, Derivatives, and Alternative Investments for CFA Institute. Mr. Haslett has served CFA Institute as an exam grader and member of the Council of Examiners as well as an ad hoc reviewer for the Financial Analysts Journal and abstractor for the CFA Digest. He is past president of the CFA Society of Philadelphia and former board member of the New York Society of Security Analysts. He holds a Master of Liberal Arts from the University of Pennsylvania and an MBA from Drexel University. Prior to joining CFA Institute, Mr. Haslett was head of option analytics for Miller Tabak & Co., LLC, and spent much of his career managing risk on the option trading floors at the Philadelphia Stock Exchange. Klappentext Risk management may have been the single most important topic in finance over the past two decades. To appreciate its complexity, one must understand the art as well as the science behind it. And in order to do so, investment professionals must have a solid framework for understanding the theory, philosophy, and development of the practice of risk management. Risk Management: Foundations for a Changing Financial World outlines the evolution of risk management with key contributions from the top minds in the field, such as Richard Bookstaber, Aswath Damodaran, Philippe Jorion, Clifford Asness, and Andrew Lo, among others. They show how the discipline has adapted to address the future of managing risk. Covering the full range of risk management issues, the book first provides an overview of the past two decades of risk management. It goes on to discuss the various aspects of measuring risk?from how risk management can benefit portfolio managers to understanding and monitoring the liquidity cycle, and more. The last section of the book examines the practical aspects of managing risk, including risk management for hedge funds, the uses and risks of derivatives, the management of geopolitical risks, and other critical topics. For financial analysts, money managers, and others in the finance industry, this book offers an in-depth understanding of the issues most important to today's investment professionals. Zusammenfassung Key readings in risk management from CFA Institute, the preeminent organization representing financial analysts Risk management may have been the single most important topic in finance over the past two decades. To appreciate its complexity, one must understand the art as well as the science behind it. Inhaltsverzeichnis Foreword xiii Acknowledgments xv Introduction 1 PART I OVERVIEW-TWO DECADES OF RISK MANAGEMENT 5 1990-1999 CHAPTER 1 A Framework for Understanding Market Crisis 7 Richard M. Bookstaber Reprinted from AIMR Conference Proceedings: Risk Management: Principles and Practices (August 1999):7-19. CHAPTER 2 Practical Issues in Choosing and Applying Risk Management Tools 25 Jacques Longerstaey Reprinted from AIMR Conference Proceedings: Risk Management: Principles and Practices (August 1999):52-61. CHAPTER 3 The Three P's of Total Risk Management 39 Andrew W. Lo Reprinted from the Financial Analysts Journal (January/February 1999):13-26. CHAPTER 4 Reporting and Monitoring Risk Exposure 61 Robert W. Kopprasch, CFA Reprinted from AIMR Conference Proceedings: Risk Management (April 1996): 25-33. 2000-Present CHAPTER 5 Risk Management: A Review 73 Sébastien Lleo, CFA Modified from The Research Foundation of CFA Institute (February 2009). CHAPTER 6 Defining Risk 113 Glyn A. Holton Reprinted from the Financial Analysts Journal (November/December 2004): 19-25. CHAPTER 7 Value and Risk: Beyond Betas 125 <...
