Risk Transfer: Derivatives in Theory and Practice

4 avg rating
( 2 ratings by Goodreads )
 
9780471464983: Risk Transfer: Derivatives in Theory and Practice

Based on an enormously popular "derivative instruments and applications" course taught by risk expert Christopher Culp at the University of Chicago, Risk Transfer will prepare both current practitioners and students alike for many of the issues and problems they will face in derivative markets. Filled with in-depth insight and practical advice, this book is an essential resource for those who want a comprehensive education and working knowledge of this major field in finance, as well as professionals studying to pass the GARP FRM exam.

Christopher L. Culp, PhD (Chicago, IL), is a Principal at CP Risk Management LLC and is also Adjunct Professor of Finance at the University of Chicago. He is the author of Corporate Aftershock (0-471-43002-1) and The ART of Risk Management (0-471-12495-8).

"synopsis" may belong to another edition of this title.

From the Inside Flap:

"Derivatives are an essential weapon in the corporate arsenal for managing risk, controlling cost, and increasing shareholder value. They are not weapons of mass destruction, but rather smart bombs that can be very precisely targeted at specific risk or areas of concern. Indeed, perhaps the greatest risk of derivatives to a firm is the risk of not using them when it is appropriate to do so."
–From the Preface

The use of derivatives to manage risk dates back nearly 4,000 years. And despite the current anti-derivatives uproar–fueled by the popular press, driven by well-regarded financiers like Warren Buffett and George Soros, and accompanied by government proposals to prohibit, limit, tax, or further regulate derivatives–these irreplaceable instruments are in truth straightforward and vital to numerous financial practitioners and companies.

Risk Transfer provides a basic understanding of the driving economic theory behind derivatives and risk transfer, then examines the advanced application and implementation of derivative instruments by corporations and institutional investors. Building the book around his popular University of Chicago graduate course, Professor Christopher L. Culp explores three fundamental areas in the structure and use of derivatives:

  • PART I: The Economics of Risk Transfer
    Micro and macro foundations underlying risk transfer as a financial activity, and the evolution and use of derivatives as an efficient means of transferring risk
  • PART II: Derivatives Valuation and Asset Lending
    The function of derivatives as intertemporal and interspatial resource allocation markets, with discussions of related concepts including own rates of interests, the cost of carry, backwardation and contango in the term structure of futures/forward prices, basis and spread relations, and more
  • PART III: Speculation and Hedging
    The role of–and risk premium paid to–speculators, how firms determine their specific objectives and hedge ratios, and how hedging is affected by and can be used to address quality and calendar basis risks

While derivatives have always been–and will always be–a necessary tool in managing exposure to financial risk, professionals must understand the entire picture before they can successfully relate to its individual components. Risk Transfer helps researchers and practitioners to fill in that picture, providing a comprehensive examination of the theoretical foundations of derivatives as risk transfer instruments along with hands-on techniques and examples of how that theory can be successfully applied to the everyday practice of financial risk management.

From the Back Cover:

Praise for Risk Transfer

"Culp’s book is a masterly account of the economics of risk and the development of derivatives. It is not only soundly based in theory but it serves as a splendid practical guide to the multiplicity of traded risks in the financial markets."
–Sir Alan Walters, Chief Economic Advisor to Margaret Thatcher (1980-85 and 1989) and former Vice Chairman, AIG Trading Group (1990-2000)

"As always, Chris Culp makes me rethink things I thought I already understood. The idea he champions in this book–that derivatives can be viewed through the lens of an asset lending instrument–helps in understanding the behavior of the producers and users of derivatives. And Culp’s historical notes add color to the tapestry of risk management."
–Charles Smithson, Managing Director, Rutter Associates

"Derivatives are the highest financial life form on the planet, and Culp does a great job of explaining why. I was especially delighted by Chapter 2, which traces the way we think about risk and uncertainty from Adam Smith (who would have taught at the University of Chicago if he had been born later), through Frank Knight and Bob Lucas. It is a great reminder of why we study economics in the first place. Well done."
–Galen Burghardt, Director of Research, Carr Futures

"Chris Culp’s Risk Transfer is an important addition to the literature on derivatives, and not just because it successfully bridges theory and practice. The presentation of the underlying economic thought and academic literature relevant to the broader issues of how we view and treat risk in the economy and in the business world is excellent. It’s what makes this new book unique and valuable."
–Wendy L. Gramm, Chairman of Regulatory Studies
Mercatus Center, George Mason University

"Culp’s book explains the role derivatives play in our financial system as an invaluable tool for risk transfer in the marketplace. He takes the reader from the macro aspects of derivatives through detailed modern theories, in addition to offering a practical perspective on speculation and hedging. This book is essential for every derivatives professional."
–Dennis A. Dutterer, President and CEO, The Clearing Corporation

"About this title" may belong to another edition of this title.

Top Search Results from the AbeBooks Marketplace

1.

Culp, Christopher L.
Published by Wiley (2004)
ISBN 10: 0471464988 ISBN 13: 9780471464983
New Hardcover Quantity Available: 2
Seller:
Murray Media
(North Miami Beach, FL, U.S.A.)
Rating
[?]

Book Description Wiley, 2004. Hardcover. Book Condition: New. Never used!. Bookseller Inventory # P110471464988

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 44.16
Convert Currency

Add to Basket

Shipping: US$ 1.99
Within U.S.A.
Destination, Rates & Speeds

2.

Christopher L. Culp
Published by Wiley (2004)
ISBN 10: 0471464988 ISBN 13: 9780471464983
New Hardcover Quantity Available: 1
Seller:
Ergodebooks
(RICHMOND, TX, U.S.A.)
Rating
[?]

Book Description Wiley, 2004. Hardcover. Book Condition: New. 1. Bookseller Inventory # DADAX0471464988

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 46.61
Convert Currency

Add to Basket

Shipping: US$ 3.99
Within U.S.A.
Destination, Rates & Speeds

3.

Christopher L. Culp ( )
Published by John Wiley and Sons
ISBN 10: 0471464988 ISBN 13: 9780471464983
New Quantity Available: > 20
Seller:
INDOO
(Avenel, NJ, U.S.A.)
Rating
[?]

Book Description John Wiley and Sons. Book Condition: New. Brand New. Bookseller Inventory # 0471464988

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 56.60
Convert Currency

Add to Basket

Shipping: US$ 3.50
Within U.S.A.
Destination, Rates & Speeds

4.

Culp, Christopher L.
Published by Wiley
ISBN 10: 0471464988 ISBN 13: 9780471464983
New Hardcover Quantity Available: 1
Seller:
Cloud 9 Books
(Wellington, FL, U.S.A.)
Rating
[?]

Book Description Wiley. Hardcover. Book Condition: New. 0471464988 New Condition. Bookseller Inventory # NEW7.0185138

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 59.99
Convert Currency

Add to Basket

Shipping: US$ 4.99
Within U.S.A.
Destination, Rates & Speeds

5.

Christopher L. Culp
Published by Wiley (2004)
ISBN 10: 0471464988 ISBN 13: 9780471464983
New Hardcover First Edition Quantity Available: 1
Seller:
Irish Booksellers
(Rumford, ME, U.S.A.)
Rating
[?]

Book Description Wiley, 2004. Hardcover. Book Condition: New. book. Bookseller Inventory # M0471464988

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 66.51
Convert Currency

Add to Basket

Shipping: FREE
Within U.S.A.
Destination, Rates & Speeds

6.

Christopher L. Culp
Published by John Wiley and Sons Ltd, United States (2004)
ISBN 10: 0471464988 ISBN 13: 9780471464983
New Hardcover First Edition Quantity Available: 1
Seller:
The Book Depository US
(London, United Kingdom)
Rating
[?]

Book Description John Wiley and Sons Ltd, United States, 2004. Hardback. Book Condition: New. 1. Auflage. Language: English . Brand New Book. Based on an enormously popular derivative instruments and applications course taught by risk expert Christopher Culp at the University of Chicago, Risk Transfer will prepare both current practitioners and students alike for many of the issues and problems they will face in derivative markets. Filled with in-depth insight and practical advice, this book is an essential resource for those who want a comprehensive education and working knowledge of this major field in finance, as well as professionals studying to pass the GARP FRM exam. Christopher L. Culp, PhD (Chicago, IL), is a Principal at CP Risk Management LLC and is also Adjunct Professor of Finance at the University of Chicago. He is the author of Corporate Aftershock (0-471-43002-1) and The ART of Risk Management (0-471-12495-8). Bookseller Inventory # AAH9780471464983

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 74.92
Convert Currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, Rates & Speeds

7.

Christopher L. Culp
Published by John Wiley and Sons Ltd, United States (2004)
ISBN 10: 0471464988 ISBN 13: 9780471464983
New Hardcover First Edition Quantity Available: 1
Seller:
The Book Depository
(London, United Kingdom)
Rating
[?]

Book Description John Wiley and Sons Ltd, United States, 2004. Hardback. Book Condition: New. 1. Auflage. Language: English . Brand New Book. Based on an enormously popular derivative instruments and applications course taught by risk expert Christopher Culp at the University of Chicago, Risk Transfer will prepare both current practitioners and students alike for many of the issues and problems they will face in derivative markets. Filled with in-depth insight and practical advice, this book is an essential resource for those who want a comprehensive education and working knowledge of this major field in finance, as well as professionals studying to pass the GARP FRM exam. Christopher L. Culp, PhD (Chicago, IL), is a Principal at CP Risk Management LLC and is also Adjunct Professor of Finance at the University of Chicago. He is the author of Corporate Aftershock (0-471-43002-1) and The ART of Risk Management (0-471-12495-8). Bookseller Inventory # AAH9780471464983

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 75.93
Convert Currency

Add to Basket

Shipping: FREE
From United Kingdom to U.S.A.
Destination, Rates & Speeds

8.

Christopher L. Culp
Published by John Wiley and#38; Sons (2004)
ISBN 10: 0471464988 ISBN 13: 9780471464983
New Quantity Available: 2
Seller:
Books2Anywhere
(Fairford, GLOS, United Kingdom)
Rating
[?]

Book Description John Wiley and#38; Sons, 2004. HRD. Book Condition: New. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Bookseller Inventory # FW-9780471464983

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 65.72
Convert Currency

Add to Basket

Shipping: US$ 11.90
From United Kingdom to U.S.A.
Destination, Rates & Speeds

9.

Culp, Christopher L.
Published by Somerset, New Jersey, U.S.A.: John Wiley & Sons Inc (2004)
ISBN 10: 0471464988 ISBN 13: 9780471464983
New Hardcover Quantity Available: 3
Seller:
LINDABOOK
(Taipei, TP, Taiwan)
Rating
[?]

Book Description Somerset, New Jersey, U.S.A.: John Wiley & Sons Inc, 2004. Hardcover. Book Condition: New. Ship out 1 business day,Brand new,US edition, Free tracking number usually 2-4 biz days delivery to worldwide Same shipping fee with US, Canada,Europe country, Australia, item will ship out from either LA or Asia n. Bookseller Inventory # ABE-10456486902

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 69.99
Convert Currency

Add to Basket

Shipping: US$ 9.90
From Taiwan to U.S.A.
Destination, Rates & Speeds

10.

Christopher L. Culp
Published by Wiley 2004-05-11, New York |[Chichester] (2004)
ISBN 10: 0471464988 ISBN 13: 9780471464983
New Hardcover Quantity Available: 1
Seller:
Blackwell's
(Oxford, OX, United Kingdom)
Rating
[?]

Book Description Wiley 2004-05-11, New York |[Chichester], 2004. hardback. Book Condition: New. Bookseller Inventory # 9780471464983

More Information About This Seller | Ask Bookseller a Question

Buy New
US$ 73.47
Convert Currency

Add to Basket

Shipping: US$ 7.93
From United Kingdom to U.S.A.
Destination, Rates & Speeds

There are more copies of this book

View all search results for this book