Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Plight of the Fortune Tellers PDF full book. Access full book title Plight of the Fortune Tellers by Riccardo Rebonato. Download full books in PDF and EPUB format.
Author: Riccardo Rebonato Publisher: Princeton University Press ISBN: 1400824370 Category : Business & Economics Languages : en Pages : 303
Book Description
Today's top financial-risk professionals have come to rely on ever-more sophisticated mathematics in their attempts to come to grips with financial risk. But this excessive reliance on quantitative precision is misleading--and it puts us all at risk. This is the case that Riccardo Rebonato makes in Plight of the Fortune Tellers--and coming from someone who is both an experienced market professional and an academic, this heresy is worth listening to. Rebonato forcefully argues that we must restore genuine decision making to our financial planning, and he shows us how to do it using probability, experimental psychology, and decision theory. This is the only way to effectively manage financial risk in a manner congruent with how human beings actually react to chance. Rebonato challenges us to rethink the standard wisdom about probability in financial-risk management. Risk managers have become obsessed with measuring risk and believe that these quantitative results by themselves can guide sound financial choices--but they can't. In this book, Rebonato offers a radical yet surprisingly commonsense solution, one that seeks to remind us that managing risk comes down to real people making decisions under uncertainty. Plight of the Fortune Tellers is not only a book for the decision makers of Wall Street, it's a must-read for anyone concerned about how today's financial markets are run. The stakes have never been higher--can you risk it?
Author: Riccardo Rebonato Publisher: Princeton University Press ISBN: 1400824370 Category : Business & Economics Languages : en Pages : 303
Book Description
Today's top financial-risk professionals have come to rely on ever-more sophisticated mathematics in their attempts to come to grips with financial risk. But this excessive reliance on quantitative precision is misleading--and it puts us all at risk. This is the case that Riccardo Rebonato makes in Plight of the Fortune Tellers--and coming from someone who is both an experienced market professional and an academic, this heresy is worth listening to. Rebonato forcefully argues that we must restore genuine decision making to our financial planning, and he shows us how to do it using probability, experimental psychology, and decision theory. This is the only way to effectively manage financial risk in a manner congruent with how human beings actually react to chance. Rebonato challenges us to rethink the standard wisdom about probability in financial-risk management. Risk managers have become obsessed with measuring risk and believe that these quantitative results by themselves can guide sound financial choices--but they can't. In this book, Rebonato offers a radical yet surprisingly commonsense solution, one that seeks to remind us that managing risk comes down to real people making decisions under uncertainty. Plight of the Fortune Tellers is not only a book for the decision makers of Wall Street, it's a must-read for anyone concerned about how today's financial markets are run. The stakes have never been higher--can you risk it?
Author: Riccardo Rebonato Publisher: Princeton University Press ISBN: 1400836395 Category : Business & Economics Languages : en Pages : 325
Book Description
Today's top financial professionals have come to rely on ever-more sophisticated mathematics in their attempts to come to grips with financial risk. But this excessive reliance on quantitative precision is misleading--and puts everyone at risk. In Plight of the Fortune Tellers, Riccardo Rebonato forcefully argues that we must restore genuine decision making to our financial planning. Presenting a financial model that uses probability, experimental psychology, and decision theory, Rebonato challenges us to rethink the standard wisdom about risk management. He offers a radical yet surprisingly commonsense solution: managing risk comes down to real people making decisions under uncertainty. Plight of the Fortune Tellers is a must-read for anyone concerned about how today's financial markets are run. In a new preface, Rebonato explains how the ideas presented in this book fit into the context of the global financial crisis that followed its original publication. He argues that risk managers are still stuck in a probabilistic rut, and need to engage with the structural causes of real events.
Author: Richard Bookstaber Publisher: Princeton University Press ISBN: 0691191859 Category : Business & Economics Languages : en Pages : 236
Book Description
An in-depth look at how to account for the human complexities at the heart of today’s financial system Our economy may have recovered from the Great Recession—but not our economics. The End of Theory discusses why the human condition and the radical uncertainty of our world renders the standard economic model—and the theory behind it—useless for dealing with financial crises. What model should replace it? None. At least not any version we’ve been using for the past two hundred years. Richard Bookstaber argues for a new approach called agent-based economics, one that takes as a starting point the fact that we are humans, not the optimizing automatons that standard economics assumes we are. Sweeping aside the historic failure of twentieth-century economics, The End of Theory offers a novel perspective and more realistic framework to help prevent today's financial system from blowing up again.
Author: Riccardo Rebonato Publisher: Princeton University Press ISBN: 1400829321 Category : Business & Economics Languages : en Pages : 486
Book Description
In recent years, interest-rate modeling has developed rapidly in terms of both practice and theory. The academic and practitioners' communities, however, have not always communicated as productively as would have been desirable. As a result, their research programs have often developed with little constructive interference. In this book, Riccardo Rebonato draws on his academic and professional experience, straddling both sides of the divide to bring together and build on what theory and trading have to offer. Rebonato begins by presenting the conceptual foundations for the application of the LIBOR market model to the pricing of interest-rate derivatives. Next he treats in great detail the calibration of this model to market prices, asking how possible and advisable it is to enforce a simultaneous fitting to several market observables. He does so with an eye not only to mathematical feasibility but also to financial justification, while devoting special scrutiny to the implications of market incompleteness. Much of the book concerns an original extension of the LIBOR market model, devised to account for implied volatility smiles. This is done by introducing a stochastic-volatility, displaced-diffusion version of the model. The emphasis again is on the financial justification and on the computational feasibility of the proposed solution to the smile problem. This book is must reading for quantitative researchers in financial houses, sophisticated practitioners in the derivatives area, and students of finance.
Author: Anita Shreve Publisher: St. Martin's Press ISBN: 9780316781015 Category : Fiction Languages : en Pages : 468
Book Description
Olympia Biddeford's passionate affair with a married man nearly three times her age, results in her being exiled from society and forces her to make a new life for herself.
Author: Nadifa Mohamed Publisher: Knopf ISBN: 0593534360 Category : Fiction Languages : en Pages : 321
Book Description
BOOKER PRIZE FINALIST • Based on a true event, this novel is “a blues song cut straight from the heart ... about the unjust death of an innocent Black man caught up in a corrupt system” (Walter Mosley, best-selling author of Devil in a Blue Dress). In Cardiff, Wales in 1952, Mahmood Mattan, a young Somali sailor, is accused of a crime he did not commit: the brutal killing of Violet Volacki, a shopkeeper from Tiger Bay. At first, Mahmood believes he can ignore the fingers pointing his way; he may be a gambler and a petty thief, but he is no murderer. He is a father of three, secure in his innocence and his belief in British justice. But as the trial draws closer, his prospect for freedom dwindles. Now, Mahmood must stage a terrifying fight for his life, with all the chips stacked against him: a shoddy investigation, an inhumane legal system, and, most evidently, pervasive and deep-rooted racism at every step. Under the shadow of the hangman's noose, Mahmood begins to realize that even the truth may not be enough to save him. A haunting tale of miscarried justice, this book offers a chilling look at the dark corners of our humanity.
Author: Derek Walters Publisher: Penguin Putnam ISBN: 9780670856404 Category : Divination Languages : en Pages : 0
Book Description
An enchanting novelty for anyone fascinated by Chinese culture, the game that has challenged players for centuries has been adapted for more mystical pursuits--predicting the future and imparting wisdom. Includes complete instructions and four decks of cards representing the traditional tiles.
Author: Jennifer 8 Lee Publisher: Hachette+ORM ISBN: 0446511706 Category : Social Science Languages : en Pages : 237
Book Description
If you think McDonald's is the most ubiquitous restaurant experience in America, consider that there are more Chinese restaurants in America than McDonalds, Burger Kings, and Wendys combined. New York Times reporter and Chinese-American (or American-born Chinese). In her search, Jennifer 8 Lee traces the history of Chinese-American experience through the lens of the food. In a compelling blend of sociology and history, Jenny Lee exposes the indentured servitude Chinese restaurants expect from illegal immigrant chefs, investigates the relationship between Jews and Chinese food, and weaves a personal narrative about her own relationship with Chinese food. The Fortune Cookie Chronicles speaks to the immigrant experience as a whole, and the way it has shaped our country.
Author: Jerome Detemple Publisher: CRC Press ISBN: 1420034863 Category : Business & Economics Languages : en Pages : 247
Book Description
Focusing on recent developments in the field, American-Style Derivatives provides an extensive treatment of option pricing with emphasis on the valuation of American options on dividend-paying assets. This book reviews valuation principles for European contingent claims and extends the analysis to American contingent claims. It presents basic valuation principles for American options including barrier, capped, and multi-asset options. It also reviews numerical methods for option pricing and compares their relative performance. Ideal for students and researchers in quantitative finance, this material is accessible to those with a background in stochastic processes or derivative securities.
Author: Ken Follett Publisher: Fawcett ISBN: 0307775194 Category : Fiction Languages : en Pages : 468
Book Description
NEW YORK TIMES BESTSELLER Scotland, 1766. Sentenced to a life of misery in the brutal coal mines, twenty-one-year-old Mack McAsh hungers for escape. His only ally: the beautiful, highborn Lizzie Hallim, who is trapped in her own kind of hell. Though separated by politics and position, these two restless young people are bound by their passionate search for a place called freedom. From the teeming streets of London to the infernal hold of a slave ship to a sprawling Virginia plantation, Ken Follett’s turbulent, unforgettable novel of liberty and revolution brings together a vivid cast of heroes and villains, lovers and rebels, hypocrites and hell-raisers—all propelled by destiny toward an epic struggle that will change their lives forever.
Author: Riccardo Rebonato
Author: Riccardo Rebonato
Author: Riccardo Rebonato
Author: Richard Bookstaber
Author: Riccardo Rebonato
Author: Anita Shreve
Author: Nadifa Mohamed
Author: Derek Walters
Author: Jennifer 8 Lee
Author: Jerome Detemple
Author: Ken Follett