Measuring Market Risk + CD-ROM , 2nd Edition

Book Description

Fully revised and restructured, Measuring Market Risk, Second Edition includes a new chapter on options risk management, as well as substantial new information on parametric risk, non-parametric measurements and liquidity risks, more practical information to help with specific calculations, and new examples including Q&A’s and case studies. The accompanying CD-ROM includes a Measuring Market Risk toolbox, with about 150 risk measurement functions, a manual and a selection of Excel workbooks illustrating basic risk measurement functions.

Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.

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"This book offers an extensive and up-to-date review of market risk measurement, focusing particularly on the estimation of value at risk (VaR) and expected tail loss (ETL). Measuring Market Risk provides coverage of parametric and non-parametric risk estimation, simulation, numerical methods, liquidity risks, risk decomposition and budgeting, backtesting, stress testing, and model risk, as well as appendices on mapping delta-gamma approximations and options VaR. Divided into two parts, the book also comes with a Toolkit containing 11 toolboxes dealing with technical issues often used in market risk measurement, including quantile error estimation, order statistics, principal components and factor analysis, non-parametric density estimation, fat-tailed distributions, extreme-value theory, simulation methods, volatility and correlation estimation, and copulas. The book is packaged with a CD containing a MATLAB folder of 150 risk measurement functions, with additional examples in Excel/VBA. Measuring Market Risk is designed for practitioners involved in risk measurement and management. It will also be of use to MBA, MA and MSc programmes in finance, financial engineering, risk management and related subjects in addition to academics and researchers working in this field. "

Customer Reviews:

One of the best books on VaR, but not suitable for beginners.......2006-01-24

I fundamentally disagree with the reviewer stating that this book should not be bought. The fact that that reviewer isn't familiar with Matlab is a shame given that he or she works as a risk manager and since Matlab is often a basic pre-requisite for doing good quantitative finance. Serious risk management demands serious numerical software and Matlab is one such tool which allows quick model implementation in the fast paced business world. Excel/VBA are definitely not suitable for good work in this field (just look up the many statistical problems that can be found in Excel's functions, for example, or try to implement some basic matrix operations using VBA). C is not great either given that the Dowd's didactic message would be lost in a sea of imperative coding logic. Not understanding that the 'svd' function is shorthand for singular value decomposition, makes me suspect that that reviewer's quantitative abilities may not at the level needed to read this book. However, I don't want to turn this review into a flame-fest advocating Matlab over all else and ignoring the content of the book itself. I think Matlab has its faults too, but Dowd made a sensible choice in using this pseudocode-like language for the examples of the models he presents. (And if Matlab is too expensive to purchase there are many free clones that work just as well: just search for 'scilab' or 'octave' on the web). But on with the review of the book itself...

As I said in the subject heading, this book is not suitable for beginners. There is not much in the way of justification of the aims of VaR or the field of market risk management, while much time is spent on classroom level theory. For example, chapter one contains a very brief recap of the highlights of the history of portfolio risk measurement, while chapter 2 already attempts to rip VaR apart with the justification of using coherent risk measurements instead of VaR. A beginner is just not going to be able to grasp all that's going on at this early stage without a good number of practical examples. Even *with* the examples, it's often hard for people new to the field to get the kind of intution that only comes after years of practice and working through real problems. Dowd doesn't do much to alleviate that kind of confusion. However, for the practicing, well-read risk manager or quant, the book is a veritable encyclopediac reference of the field. Dowd does for VaR what Fabozzi does for fixed income securities. He covers practically all the major models and their many variations and gives much more information about the mathematical tools needed to make these models tick than do most of the classic references (e.g. Jorion). What's more Dowd does an admirable job of describing important complements to VaR such as stress testing, backtesting, and model risk. Finally, the citations that Dowd includes in the book are useful in and of themselves as they include the main readings in the field.

My biggest complaint with the book is that's it's no more than a survey of the *theory* of VaR. To that end, Dowd's academic focus is present throughout and this focus book does not easily lend itself to practical issues in risk management and analysis. For example, one of the most important practical issues in risk management is the mapping of securities into their building block risk factors, yet Dowd spends a paltry 11 pages discussing this topic. What's more there is no mention of the very real world need to model portfolio VaR in the case of missing market data. Dowd too often assumes a perfect world of complete data which is simply not the case. Moreover Dowd does not discuss many of the real world issues involved in the development and maintenance of living breating enterprise risk systems.

Overall I think this book is an extremely useful addition to every risk manager's bookshelf, but I only gave it 4 stars because I feel there is a fair bit of room for improvement.

Great reference book for practitioners.......2005-06-30

Measuring market risk is a 'must-have' reference book for risk management professionals. Numerous examples illustrate how to solve risk measurement problems. Great book!!!!

I suggest you do NOT buy this book .......2005-04-08

I would have returned this book to Amazon.com and asked for my money back if I had not already been reimbursed by my employer for it. I am a risk manager, and so was looking forward to reading this cover to cover. Well, my opinion of this book changed before I got out of the preface!!!! The author states that all of the most important results will be provided as Matlab programs in the attached CD. Why? Because he doesn't think that usual programs like Excel/VBA are strong enough and yet programs like C and others are not user friendly. He then urges the reader to buy Matlab regardless of it being quite expensive.

Ok, my advice is to beware anyone who says that there is one and only one program that you can do something in. What he did was program in what he was comfortable with regardless of the reader's potential skills and resources. There are a lot of programs out there. But his whole book is targeted to using ONE third party vendor program. This was not disclosed in the book's descriptions. This is misrepresentation. If the book is so targeted toward one program, that should be indicated explicitly. The title of this book should be "Measuring Market Risk using Matlab". I suspect the reason this was not done was because it would have limited sales. I really think the author shows fundamental contempt for his readers by not appropriately disclosing the tie to Matlab on the cover.

Why this is particularly important is that this book is so targeted toward the CD. It looks like you have to have Matlab to run his examples. Without Matlab, all you have is code. And this is not some easy to read pseudo-code you can translate into another program. For example, one line taken from his Matlab code is:

[U,S,V]=svd(return_data,0);

What is that? If you guessed svd is standard deviation, you would be wrong. Do you think you are going to translate this spaghetti into something useful? I don't think so. There are a few Excel programs in a subdirectory on the CD, but they are just a scattered collection of bits and pieces of functions. One I opened up that looked promising could not run without the user buying yet another program called "Crystal Ball". This just got worse and worse.

The book is divided into two parts. The first is an overview of risk ideas with minimal derivation or explanation. The second half seems to be a more of a catalog of models and approaches that then points the user toward his CD. For example, there are 5 pages on Principal Components Analysis and Factor Analysis and then points the user to the CD. There are 4 pages on Copula functions, and then it points the user to the CD. If you don't already know how to do PCA and Copula, you are not going to learn it in 4 or 5 pages!!!! So what do we have here? It does not go into meaningful detail to explain the concepts. So it is not a strong risk book. So, this whole package is more like a software program with significant documentation. But wait. Its not a software program either because you don't get Matlab with it. You just get some prewritten functions from Matlab that don't appear useful unless you have Matlab. So, its not a software package, and its not a stand-alone risk book. What is it? Unless you already own or will buy Matlab and are already up to speed on market risk, then DO NOT get this.

Incidentally, I own Dowd's "Beyond Value at Risk". It is getting dated, but I thought that book was excellent. I think the author can do great work. My issue is not with the author's knowledge or skills. The problem is this book.

Book Description

Suppose... is a business tool for building team synergy; a personal catalyst for revitalizing relationships; a resource to celebrate individual differences and generate enthusiastic fun! It is filled with 444 provocative questions, to generate discussion and build relationships. The book includes a cross-referenced listing of questions designed for: advanced team building; clarifying roles; conflict management; team decision making; ice breakers and informal gatherings; mission/vision/values development; and sharing information/building relationships. There is also a section of suggested plans for using the book in a variety of ways.

Anyone who wants to build strong relationships - in business or in life - must add this valuable resource to their library.

Book Description

The authors, who teach creativity workshops to hospitality industry executives all over the world, interviewed 70 of the most successful hotel executives and restaurateurs in the business. Based on this study and using the subjects' own words, it provides techniques for generating creative hospitality product and marketing ideas. Explores how, in the hospitality industry, creativity on the part of managers and entrepreneurs leads to financial success as well as a greater sense of personal fulfillment and can ``make the world a better place to stay.''

Book Description

"Writing in a readable style and developing communication concepts in an impressive manner, Whalen pulls from his experience in sales, broadcasting, politics, and teaching to inductively develop the process of acquiring competency as a communicator."
--CHOICE

"I See What You Mean is an invaluable book for the professional. Its warm and witty style of writing makes it an enjoyable book to read; its powerful message makes it a mandatory book to read. Joel Whalen explores the foundations of communication, focusing on the unique nature of business interactions, and then takes the issue to an even more practical level. I See What You Mean provides the necessary tools to prepare and deliver a persuasive presentation that leaves both the speaker and the listener satisfied. The book is sprinkled with tips, ranging from how to close the technical heavy sale to overcoming speech anxiety or building the credibility that will help springboard your career. I See What You Mean is a treasure of techniques and insights into business communication."
--E. Ruth White, Advertising Associate, American Medical Association

"A welcome handbook to effective business communications! D. Joel Whalen's I See What You Mean is a fine across-the-board account of the communications skills and techniques essential in any successful enterprise."
--Bruce D'Agostino, Dairy & Food Industries Supply Association, Inc.

"D. Joel Whalen's I See What You Mean is as entertaining as it is educational. The creative and clever analogies used in the text provide clear and interesting insight for the seasoned executive and the new professional alike. Dr. Whalen's colorful personality and keen ability to captivate an audience have been perfectly translated into text that is logically written and exciting to read. Ideal for classroom use--students come to class prepared and eager to apply what they've learned from the reading."
--Jeric Johnson, The Disney Channel & Kellstadt Fellow DePaul University

Develop the communication "street-smarts" necessary for working in a teamwork environment by learning how to:

Create a high-impact presentation in five minutes
Manage your stage fright
Persuade angry bosses and managers
Increase your credibility

I See What You Mean is a practical, innovative guide that has been extensively tested with MBA students and business executives. Author D. Joel Whalen has shown thousands of people how to be more successful by being more persuasive. This auspicious new volume includes research-based examples, tips, and exercises that teach you the communication skills necessary to survive and thrive in the new business environments of today.

I See What You Mean is an excellent resource for business communication courses and executive development programs as well as anyone pursuing a career in management, marketing, communications, social work administration, or public administration.

The Art and Science of Persuasive Business Presentations

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The Art and Science of Persuasive Business Presentations
Nils L. Randrup
Manufacturer: Copenhagen Business School Press
ProductGroup: Book
Binding: Paperback

General | Business & Investing | Subjects | Books

Running Meetings & Presentations | Skills | Business & Investing | Subjects | Books
ASIN: 8716133048

Product Description

This book is about how you get better at preparing and conducting persuasive business presentations. Its about presentation skills, logic argumentation, how to do it in practice, and it is on how to deliver it skillfully. In short: It is about how to to do a professional persuasive business presentation. The major difference between this and other persuasive presentation books is the fact that there is as much content on the argument and discourse/retorical elements as there is on the form. The book has been used as a text book in communication classes on business school level, ,and for training executives in persuasive communication.

Book Description

Be ready for your next interview and WIN THE JOB

Break through your inner obstacles of stage fright, fear, or anxiety that prevent you from performing your best and making a WINNING first impression

GET PICKED, GET CHOSEN, GET RECOGNIZED!

Weather you are new to the job market, recently out of work after YEARS in your career, trying to make an impression through public speaking or an interview situation, this set will help you overcome the anxiety of the interview process.

Designed to help ready you unconsciously for the challenges ahead, this tape set uses the magic of double Induction HSR stereo to find resources of confidence, calm and talent from your past and model those things you don't have in a way that they will be waiting for you magically when you get into your next public or audition situation.

Win them over! Get the Job! Be successful and GET NOTICED!

Full Set Includes all this:

Side #1 is entitled "How To Use a Hypnosis Tape." It will explain what to expect from the process of using a self hypnotic audio tape.

Side # 2 is a Guided Exploration of your desired change. It takes the place of a LIVE OFFICE VISIT and will help you set up your change for MAXIMUM EFFECT from the hypnotic audio tapes.

Side #3 and Side # 4 are unique individual trance sessions which will allow you to access the powerful unconscious portion of your mind, to TRANCE-form your old behaviors into new and more productive thoughts, feelings attitudes and ideas.

Our tapes feature the power of Double Induction Hypno-Stereo and are an experience of comfort and expanded awareness like few others.

NEVER USE THESE TAPES WHILE DRIVING

Not intended as replacement for medical or psychological treatment

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Simple News for Complex Living

If I Knew Then¹ For Generation Xers and All Others Seeking Economic Independence in a Society That Demands It
Denise P. Williams
Manufacturer: Focus First Pubns Inc
ProductGroup: Book
Binding: Paperback

General | Personal Finance | Business & Investing | Subjects | Books
ASIN: 0967913004

Book Description

If I Knew Then... combines time-tested methods for achieving financial success with a philosophy of emotional and spiritual empowerment. Williams brings straigtforward solutions and proactive approaches to saving, investing in the stock market, buying real estate, and other ways to build wealth. This book is designed to help the age group of 20 and 30-somethings, known as Generation Xers, find a realistic way to solve their own financial dilemmas and achieve their own goals.

Customer Reviews:

Simple News for Complex Living.......2000-08-28

In a World filled with technological advancement far beyond any I would ever have imagined, growing up in the 70's ,the simple task of managing financial success has been put aside by this Generation X..This book opens the minds of this Generation X to the reality of life, especially in the Black community, where the reality is that future finances are not at the top of the agenda. This Book provides simple layman termed information to help people focus on creating and building their portfolio's for financial success.

The thing that really got my attention..being a baby boomer..was that rule of 72..If I had know then, what this book is telling me now, I sure would have been more selective about how I managed my credit.

Thank you Denise for sharing your knowledge with us...

Book Description

An essential guide for every woman who wants to take charge of her finances.

Women earn, on the average, 74 cents for every dollar men earn.They pay 25 percent more than men for a shampoo and haircut. And women pay more for used cars than men.The list of financial inequalities women must endure goes on and on. That's why it's so important for women to take control of their financial lives-whether they're married, single, divorced, or widowed; whether young and starting out or well on the road to retirement. This easily accessible handbook has it all, including how to:Make a budget and stick to it Put away money and keep it in the bank Get the best mortgage for your home Invest simply and successfullyConsolidate your debts Cut credit-card additction Slim down with a "Dollor Diet" And much more!

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The Smart Woman's Guide to Spending, Saving and Managing Money
Ellie Williams; Pearl, Diane Clinton
Manufacturer: HarperTorch
ProductGroup: Book
Binding: Paperback
ASIN: B000OEYPJO

Book Description

This workbook/manual gives readers the opportunity to learn Quantity Food Production and Service by confronting problem narratives. In researching each problem, readers search for underlying principles and concepts regarding the production and service of food in large organizations. By completing worksheets, consulting reference materials, and participating in discussions, they learn the important foodservice principles which guide dietitians' and foodservice managers' practice in terms of food safety, menu planning, purchasing and inventory control, controlling production, delivery and service systems, and the financial impact of management decisions. Food Safety. Facility Maintenance. The Menu. Purchasing, Receiving, and Inventory Control. Food Production Methods. Managing Food Production. Meal Service. Financial Management and Cost Control. For those in Quantity Food Production and Service, Food Management, or Food Production Management.

Customer Reviews:

Fantastic!.......2000-04-24

This is very informative....I like this book. Rewad it! Order many copies.

Average customer rating:

Bravo for Evan Hendricks! He hits the nail on the head!

A must read for every American consumer out there

A Necessary Read... but Very Repetetive-

Mis-leading title and expected more about scoring

Great

Credit Scores & Credit Reports: How the System Works What You Can Do
Evan Hendricks
Manufacturer: Privacy Times
ProductGroup: Book
Binding: Paperback

General | Popular Economics | Business & Investing | Subjects | Books
Finance | Business & Investing | Subjects | Books | Banks & Banking | Corporate Finance | Foreign Exchange | Inflation | Interest
General | Business & Investing | Subjects | Books
General | Personal Finance | Business & Investing | Subjects | Books
Education | Reference | Business & Investing | Subjects | Books
General | Finance | Accounting & Finance | Professional & Technical | Subjects | Books
Similar Items:

Your Credit Score: How to Fix, Improve, and Protect the 3-Digit Number that Shapes Your Financial Future (2nd Edition) (Liz Pulliam Weston)

The Insider's Guide to Credit Repair

Credit Repair: What the Credit Industry Doesn't Want You to Know

The Guerrilla Guide to Credit Repair: How to Find out What's Wrong with Your Credit Rating and How to Fix It

Dirty Little Secrets: What the Credit Bureaus Won't Tell You

ASIN: 0964548615

Product Description

Credit Scores & Credit Reports provides the first thorough examination of the all-important, but little understood, Credit Scoring and Credit Reporting systems. The Second Edition of this highly-acclaimed book enables consumers to understand how both of these systems actually work, and what they can do to improve their FICO scores, and to ensure their credit reports are accurate. Importantly, the book also describes how the system sometimes doesn't work, and how hundreds of thousands - if not millions - of consumers have been frustrated in their efforts to correct errors in their credit reports. Moreover, it explains: *Link between credit reports and the burgeoning problem of identity theft *How credit card companies use credit scoring to raise your interest rates *The role of credit scores in auto and homeowners insurance *The difference between mortgage rates for consumers with excellent, good, fair and poor credit scores *The damages to consumers and their creditworthiness flowing from credit report inaccuracy and identity theft *Credit reports and debt collection *The debate over credit scoring and discrimination *The politics of credit reporting The current credit reporting system keep detailed financial histories on more than 200 million Americans. That is why virtually everyone has a stake in the system, and why Stephen Brobeck, executive director of the Consumer Federation of America said, "There are few books I think all consumers should read. This is one of them. It is a well-informed, informative, and a well-written guide to a subject of great and growing importance to consumers."

Customer Reviews:

Bravo for Evan Hendricks! He hits the nail on the head! .......2007-08-27

He not only explains the costly effects of our severely flawed credit reporting system, but he paints a remarkable picture of the incredible maze most have to travel when simply trying to maintain an accurate credit identity. It appears that Mr. Hendricks has ruffled a few feathers in the credit industry -and for that, we should all be thankful! Give Me Back My Credit!

A must read for every American consumer out there.......2007-02-04

Very well thought out book. Well structured and a must read if you are a consumer in America - otherwise the system could be hurting you...

Plenty of eye openers in the book...Well worth the price...

My only negative comment is it can be pretty technical and have a lot of legal verbiage, but with the subject's context, it has to be...

I disagree with the one comment saying it was repetitive...the only insight we have to the intrical parts of the credit system is through legal cases...so the history is very important...if anything, I'm anxious for developments to take place to fix the system...

It's another one of those topics where just because you're born, you have to be aware of it and understand how it works...

A Necessary Read... but Very Repetetive-.......2006-11-21

As a mortgage lender I knew this book would be a necessary read. The first half of the book talks about the in's and out's of the FICO scoring model. The information is extremely useful for both consumers and those in the lending industry. However, the second half of the book just repeats over and over the same things. 'id theft causes emotional trauma' is talked about at least 15 times in different examples and it starts to get useless. Additionally the author goes through dozens of court cases, papers written, and quotes different people on things regarding the credit industry. Again its just turns into a repetetive and useless history lesson. I rated it 4 stars though just because there aren't many good books on the subject, and this one did contain some great gems of information.

Mis-leading title and expected more about scoring.......2006-07-02

This book doesn't follow through on analyzing the credit scoring process a the title suggests. It focuses mostly on court cases involving consumers and credit reporting companies instead of getting to the meat and potatoes of credit scoring. In short, it has some pretty enlightening information but not about credit scoring. I'd recommend Liz Weston's Your Credit Score and KE Varner's The Insider's Guide to Credit Repair for additional information.

Great.......2006-01-06

A great book with important and useful information!

Book Description

Intranets and Extranets are the fastest growing use of internet technology and are being adopted by a large number of organizations. `Web-Weaving' is a book for managers which illustrates the benefits and pitfalls of using technology to enhance internal and external connections. The book brings together a number of the hottest subjects in IT and Organizational Development using contributions from innovative thinkers and practitioners in both areas.

The first section defines what web-weaving actual is, describing the huge range of communication technology available to organizations at the moment. The second section reviews web-weaving in practice using case studies of companies using intranet and extranet technology. The third section brings together commentaries from leading players in both the IT and Human Resources fields to predict the future of web-weaving and the huge impact it will have on the way organizations and the people within them will work together in the future.

38 short, lively and entertaining chapters on the hot topics which link working people with digital technology
Features original contributions from very high-profile commentators and future-watchers including Bill Gates, James (`Cybercorp') Martin, Meredith Belbin, and Susanna Opper
Featured international cases include Digital, Parsons Brinkerhof, IPC Magazines, BP and Oracle

Book Description

This book of tourism case studies addresses 20 important themes in tourism at the local, regional, and national levels. Topics include community tourism, tourism impacts, and travel and transportation.

Book Description

Barbara Czarniawska is one of the most original of contemporary writers on organizations. Sceptical of scientific claims and explanations of the social world, she advocates an approach that draws on narrative, literary theory, cultural studies, and anthropology, rather than positivist social science, arguing that 'the social sciences are a system of institutionalized reflection, whereas business and public organizations represent institutionalized action'. Recognizing the spread and influence of management studies and management writing, Czarniawska poses the question of what written form this 'institutionalized reflection' might take. She reviews some key organizational texts to show how the art of persuasion (as opposed to the presentation of 'facts') can be deployed. In Writing Management, Barbara Czarniawska explores a number of the related issues and reflects on the growth and claims of management studies. She writes about the relationship between facts and metaphors, stories, and data, and how these may be represented in genres ranging from 'scientific' reports to belles lettres. This provocative and engaging perspective on organizations and organization studies will be vital reading for anybody who is part of either.

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Quick Service That Sells: The Art of Profitable Hospitality for Quick-Service Restaurants
Phil Roberts , and Christopher O'Donnell
Manufacturer: Pencom
ProductGroup: Book
Binding: Paperback

General | Business & Investing | Subjects | Books
Hospitality, Travel & Tourism | Industries & Professions | Business & Investing | Subjects | Books
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Service That Sells! the Art of Profitable Hospitality

ASIN: 1879239132

Book Description

The profit building approach that made Service That Sells! The Book a best-seller is adapted to quick service in this must-have resource. Speed, accuracy, quality, value consistency, service, atmosphere, personalization - Quick Service That Sells! shows QSR operators how to excel in these critical moments of truth.

Book Description

A celebrated classic updated and revised for the 1990s and beyond . . .

Consumer safety is the most important concern of any successful bulk foodservice operation. And no book has done more to safeguard consumers from foodborne illnesses than Quantity Food Sanitation. First published in 1972, it has schooled generations of dietitians, nutritionists, and professional foodservice operators in techniques for the safe preparation, transport, storage, and serving of food.

This fully revised and updated edition includes coverage of the latest scientific and technological advances in the field. It focuses on the microbiological factors of food prepared in quantity and features comprehensive, step-by-step coverage of the entire sequence in the process of serving food to the publicâfrom purchasing safe food, through the numerous steps involved in preparation and storage, to final service.

The most complete, up-to-date guide to quantity foodservice safety, Quantity Food Sanitation, Fifth Edition:

Features a new chapter on microwave cooking and its effects on microbial content in foodservice applications
Includes thorough scientific documentation regarding the latest findings on problems and solutions for microbial contamination of food
Reviews recent developments in storage technology, including the sous vide (vacuum bag) and other innovations in products with an extended shelf life
Incorporates the latest food safety guidelines and procedures
Includes the HACCP system for avoiding contamination in food service operations

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