Forex Books - page 60

[seekers]

Handbook in Monte Carlo Simulation: Applications in Financial Engineering, Risk Management, and Economics by Paolo Brandimarte : the book

An accessible treatment of Monte Carlo methods, techniques, and applications in the field of finance and economics.

Providing readers with an in-depth and comprehensive guide, the Handbook in Monte Carlo Simulation: Applications in Financial Engineering, Risk Management, and Economics presents a timely account of the applicationsof Monte Carlo methods in financial engineering and economics.

Written by an international leading expert in thefield, the handbook illustrates the challenges confronting present-day financial practitioners and provides various applicationsof Monte Carlo techniques to answer these issues. The book is organized into five parts: introduction andmotivation; input analysis, modeling, and estimation; random variate and sample path generation; output analysisand variance reduction; and applications ranging from option pricing and risk management to optimization.

The Handbook in Monte Carlo Simulation features:

• An introductory section for basic material on stochastic modeling and estimation aimed at readers who may need a summary or review of the essentials

• Carefully crafted examples in order to spot potential pitfalls and drawbacks of each approach

• An accessible treatment of advanced topics such as low-discrepancy sequences, stochastic optimization, dynamic programming, risk measures, and Markov chain Monte Carlo methods

• Numerous pieces of R code used to illustrate fundamental ideas in concrete terms and encourage experimentation

The Handbook in Monte Carlo Simulation: Applications in Financial Engineering, Risk Management, and Economics is a complete reference for practitioners in the fields of finance, business, applied statistics, econometrics, and engineering, as well as a supplement for MBA and graduate-level courses on Monte Carlo methods and simulation.

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Max Isaacman - Investing with Intelligent ETFs: Strategies for Profiting from the New Breed of Securities : the book

Max Isaacman, a leading expert on Exchange Traded Funds (ETFs) and author of How to be an Index Investor, provides a comprehensive look at the new generation of ETFs, which are constructed to outperform the initial indexes and add risk-adjusted gain to your portfolio. Providing the flexibility of stocks and the diversification of indexing, ETFs are among the most exciting and fastest-growing investment tools today. Despite their popularity, however, there has been no single resource to help investors take advantage of intelligent ETFs--until now.

Investing with Intelligent ETFs shows how these securities are constructed and enables you to execute professional-level investment strategies. Some of these securities are constructed to increase returns by as much as 200 percent. Isaacman provides important information and insight into the new ETFs that:

Track indexes of currencies and commodities

Provide exposure to emerging markets

Have a low correlation to the stock market

Generate better returns in down to sideways markets

Replicate a fundamentally weighted index

According to Isaacman, intelligent ETFs are the ideal stock market investment. With charts and graphs comparing new security performance to that of the original classes, Investing with Intelligent ETFs helps you get in on one of the most innovative financial securities of our time.

[seekers]

Josh Lukeman, "The Market Maker's Edge: Day Trading Tactics from a Wall Street Insider" : the book

Day trading tactics from a Wall Street insider A groundbreaking work in electronic trading, The Market Maker’s Edge gives you the unique point of view of an actual “Ax.” The Ax — usually the day trader for a major Wall Street brokerage firm — is the market maker who controls the movement of a particular stock. Ax Josh Lukeman trades the stock market’s blazing hot technology sector for Morgan Stanley. Now, this professional trader gives you an effective, step-by-step trading plan used by Wall Street professionals to minimize risk and maximize profit. You get the latest methods of stock selection...entry and exit points...examples and charts...hair-raising anecdotes of traders who have won and lost millions of dollars, sometimes in minutes...and plenty of sound wisdom for avoiding the pitfalls of greed, fear, attachment and shame from a real pro.

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Carl Chiarella, Alexander Novikov, "Contemporary Quantitative Finance: Essays in Honour of Eckhard Platen" : the book

The contributors to this volume write a series of articles outlining contemporary advances in a number of key areas of mathematical finance such as, optimal control theory applied to finance, interest rate models, credit risk and credit derivatives, use of alternative stochastic processes, numerical solution of equations of mathematical finance, estimation of stochastic processes in finance. The list of authors includes many of the researchers who have made the major contributions to these various areas of mathematical finance.

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An Introduction to Wavelet Theory in Finance: A Wavelet Multiscale Approach by Francis In and Sangbae Kim : the book

This book offers an introduction to wavelet theory and provides the essence of wavelet analysis -- including Fourier analysis and spectral analysis; the maximum overlap discrete wavelet transform; wavelet variance, covariance, and correlation -- in a unified and friendly manner. It aims to bridge the gap between theory and practice by presenting substantial applications of wavelets in economics and finance.

This book is the first to provide a comprehensive application of wavelet analysis to financial markets, covering new frontier issues in empirical finance and economics. The first chapter of this unique text starts with a description of the key features and applications of wavelets. After an overview of wavelet analysis, successive chapters rigorously examine the various economic and financial topics and issues that stimulate academic and professional research, including equity, interest swaps, hedges and futures, foreign exchanges, financial asset pricing, and mutual fund markets.

This detail-oriented text is descriptive and designed purely for academic researchers and financial practitioners. It assumes no prior knowledge of econometrics and covers important topics such as portfolio asset allocation, asset pricing, hedging strategies, new risk measures, and mutual fund performance. Its accessible presentation is also suitable for post-graduates in a variety of disciplines -- applied economics, financial engineering, international finance, financial econometrics, and fund management. To facilitate the subject of wavelets, sophisticated proofs and mathematics are avoided as much as possible when applying the wavelet multiscaling method. To enhance the reader's understanding in practical applications of the wavelet multiscaling method, this book provides sample programming instruction backed by Matlab wavelet code.

Readership: Graduate students and researchers in the fields of econometrics, money & banking, investments, international finance, financial engineering, and fund management.

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The Secret Club That Runs the World: Inside the Fraternity of Commodity Traders by Kate Kelly : the book

“Commodity players are a shrewd and indomitable lot. And the contracts they trade are still so loosely regulated that the correct combination of money and skill creates irresistible opportunity. That’s why I’m only half joking when I call them the secret club that runs the world.”

When most people think of the drama of global finance, they think of stocks and bonds, venture capital, high-tech IPOs, and complex mortgagebacked securities. But commodities? Crude oil and soybeans? Copper and wheat? What could be more boring?

That’s exactly what the elite commodity traders want you to think. They don’t seek the media spotlight. They don’t want to be as famous as Warren Buffett or Bill Gross. Their astonishing wealth was created in near-total obscurity, because they dwelled either in closely held private companies or deep within large banks and corporations, where commodity profits and losses weren’t broken out.

But if the individual participants in the great commodities boom of the 2000s went unnoticed, their impact did not. Over several years the size of the market exploded, and so did prices for raw materials—raising serious questions about whether the big traders were intentionally jacking up the cost of gasoline, food, and other essentials bought by ordinary people around the world. What was really driving all those price spikes?

Now Kate Kelly, the bestselling author of Street Fighters, takes us inside this secretive inner circle that controls so many things we all depend on. She gets closer than any previous reporter to understanding these whip-smart, aggressive, and often egomaniacal men (yes, they are nearly all men). They work hard, play hard, flaunt their wealth, and bet millions every day on a blend of facts, analysis, and pure gut instinct.

Kelly’s narrative focuses on one of the most extraordinary periods in financial history. Though the practice of gaming out price changes in commodities goes back to ancient Mesopotamia, it had never before reached the extremes of the early to mid-2000s. Kelly exposes the role of the hedge funds, banks, brokers, and regulators in this volatile market, through fascinating stories of “secret club” members such as . . .

Pierre Andurand, a self-made multimillionaire who generated the winningest annual performance ever for an oil trader in 2008 and hired Elton John to perform at his wedding.

Ivan Glasenberg, whose secretive Swiss commodities giant, Glencore, founded by the infamous American fugitive Marc Rich, orchestrated a massive merger with the help of former UK prime minister Tony Blair.

Jon Ruggles, a brash know-it-all—recruited by Delta Air Lines to revitalize the airline’s fuel hedging business, he continued to make trades in his personal account, a questionable practice given his position.

Drawing on her exclusive access to the secret club, and following the trail from New York to Houston, London, Dubai, and beyond, Kelly reveals the immense power in the hands of a few, and the so-far contentious efforts by the Obama administration to rein in the cowboys.

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Robert J Elliott, P. Ekkehard Kopp, "Mathematics of Financial Markets" : the book

This book presents the mathematics that underpins pricing models for derivative securities in modern financial markets, such as options, futures and swaps. This new edition adds substantial material from current areas of active research, such as coherent risk measures with applications to hedging, the arbitrage interval for incomplete discrete-time markets, and risk and return and sensitivity analysis for the Black-Scholes model.

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The Oxford Handbook of the Economics of Gambling by Leighton Vaughan Williams and Donald S. Siegel : the book

There is growing interest among academics and policymakers in the economics of gambling, which has been stimulated by major regulatory and tax changes in the U.S., U.K. Continental Europe, Asia, Australia and elsewhere. Unfortunately, there is no comprehensive source of path-breaking research on this topic.

To fill this gap, we commissioned chapters from leading economists on all aspects of gambling research. Topics covered include the optimal taxation structure for various forms of gambling, factors influencing the demand and supply of gambling services, forecasting of gambling trends, regulation of gambling, the efficiency of racetrack and sports betting markets, gambling prevalence and behavior, modeling the demand for gambling services, the economic impact of gambling, substitution and complementarities among different types of gambling activity, and the relationship between gambling and other sectors of the economy. These are all important issues, with significant global implications. Specifically, we divide the Handbook into sections on casinos, sports betting, horserace betting, betting strategy, motivation, behavior and decision-making in betting markets, prediction markets and political betting, and lotteries and gambling machines

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Foreign Exchange Operations: Master Trading Agreements, Settlement, and Collateral by David F. DeRosa : the book

The ultimate nuts-and-bolts guide to foreign exchange operations

The foreign exchange landscape is particularly risky since so much of the world is unregulated and takes place over the counter (off exchange). Brilliant traders and money managers who are profitable may find themselves underperforming, or worse, losing, simply because they failed to establish strong operations. In this book, David DeRosa provides industry players with everything they need for strong operational functions from all the types of trades to execution, master trading agreements, documentation, settlement, margin and collateral, and prime brokerage services.

Contains vital work flow solutions for trading in the volatile foreign exchange marketplace

Offers information for mastering the operational aspect of foreign exchange trading to help determine best partners such as prime brokers and others

Written by David DeRosa a leading foreign exchange expert who has consulted to hundreds of financial institutions

Foreign Exchange Operations helps traders mitigate risks and offers a guide to all aspects of trading operations from mastering trading agreements to margin documentation.

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Monte Carlo Methods and Models in Finance and Insurance by Ralf Korn, Elke Korn and Gerald Kroisandt : the book

Offering a unique balance between applications and calculations, Monte Carlo Methods and Models in Finance and Insurance incorporates the application background of finance and insurance with the theory and applications of Monte Carlo methods.

It presents recent methods and algorithms, including the multilevel Monte Carlo method, the statistical Romberg method, and the Heath–Platen estimator, as well as recent financial and actuarial models, such as the Cheyette and dynamic mortality models.

The authors separately discuss Monte Carlo techniques, stochastic process basics, and the theoretical background and intuition behind financial and actuarial mathematics, before bringing the topics together to apply the Monte Carlo methods to areas of finance and insurance. This allows for the easy identification of standard Monte Carlo tools and for a detailed focus on the main principles of financial and insurance mathematics. The book describes high-level Monte Carlo methods for standard simulation and the simulation of stochastic processes with continuous and discontinuous paths. It also covers a wide selection of popular models in finance and insurance, from Black–Scholes to stochastic volatility to interest rate to dynamic mortality.

Through its many numerical and graphical illustrations and simple, insightful examples, this book provides a deep understanding of the scope of Monte Carlo methods and their use in various financial situations. The intuitive presentation encourages readers to implement and further develop the simulation methods.