Implementing Value at Risk (Wiley Series in Financial Engineering)

Book Description

Implementing Value at Risk Philip Best Value at Risk (VAR) is an estimate of the potential loss on a trading or investment portfolio. Its use has swept the banking world and is now accepted as an essential tool in any risk manager's briefcase. Perhaps the greatest strength of VAR is that it can cope with virtually all financial products, from simple securities through to complex exotic derivatives. This allows the risk taken, across diverse trading activities, to be compared. This said, VAR is no panacea. It is as critical to understand when the use of VAR is inappropriate as it is to understand the value VAR can add to a bank's understanding and control of its risks. This book aims to explain how VAR can be used as an integral part of a risk and business management framework, rather than as a stand-alone tool. The objectives of this book are to explain: What VAR is - and isn't! How to calculate VAR - the three main methods Why stress testing is needed to complement VAR How to make stress testing effective How to use VAR and stress testing to manage risk How to use VAR to improve a bank's performance VAR as a regulatory measure of risk and capital Risk management practitioners, general bank managers, consultants and students of finance and risk management will find this book, and the software package included, an invaluable addition to their library. Finance/Investment

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Customer Reviews:

AN AVERAGE VAR BOOK.......2000-09-01

This book well explains what is Value At Risk and the concept of risk management in banks. Business concepts are complete. The author gives a lot of weight in risk control.

However, he lacks to give detailed examples on how to calculate VAR, the mathematics/statistics behind. Spreadsheets are nice but not complete from the beginning to the end. Important statistical methods are described without enough detail leaving the concepts out the book's scope.

Very Useful Book on Implementing VAR.......1999-05-02

This is a good book for a financial engineer's library. I found the spreadsheet examples particularly useful.

Risk-management in the Chilean banking industry: implementing the VaR revolution.(Value at Risk): An article from: Cuadernos de Economía: Latin American journal of economics

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Risk-management in the Chilean banking industry: implementing the VaR revolution.(Value at Risk): An article from: Cuadernos de Economía: Latin American journal of economics
José Miguel Cruz
Manufacturer: Pontificia Universidad Catolica de Chile, Instituto de Economia
ProductGroup: Book
Binding: Digital

Book Description

This digital document is an article from Cuadernos de Economía: Latin American journal of economics, published by Pontificia Universidad Catolica de Chile, Instituto de Economia on December 1, 2003. The length of the article is 3274 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Risk-management in the Chilean banking industry: implementing the VaR revolution.(Value at Risk)
Author: José Miguel Cruz
Publication: Cuadernos de Economía: Latin American journal of economics (Refereed)
Date: December 1, 2003
Publisher: Pontificia Universidad Catolica de Chile, Instituto de Economia
Volume: 40 Issue: 121 Page: 752(8)

Distributed by Thomson Gale

Book Description

Bridging the gap between information system processes and online applications, this book offers a practical method for business or office process redesign and shows how simple models can be used to generate online services. The author explains the use of Office Process Redesign Language for determining how an office should be organized or re-organized. He details what tasks have to be undertaken to deliver the required services and how OPRL can be used to generate the technology infrastructure to support and take advantage of modern technology. Focusing on incremental and people sensitive approaches to redesign, the book is a communications tool for supporting business process management.

Customer Reviews:

From Strategic Process to Electronic Workflows.......2006-10-11

OPRL helps you design online procedures from simple process diagrams

Book Description

"Lucid annotations and discriminating selection distinguish this timely bibliography of 1,098 U.S. government documents published between 1975 and October 1986. Full bibliographic data include Su-Docs number, a time save for depository libraries. Classified under eight broad subject headings, materials cover the criminal justice system, crime and criminals, law enforcement, the courts, corrections, juvenile justice, security, and special resources. . . . [Since] the government has been a principal force in the analysis of crime and its prevention, the importance of a fully annotated guide to its wealth of publications is evident." Booklist

Criminal justice documents; a selective, annotated bibliography of U.S. Government publications since 1975. (Bibliographies and Indexes in Law and Political Science, No. 7)

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Criminal justice documents; a selective, annotated bibliography of U.S. Government publications since 1975. (Bibliographies and Indexes in Law and Political Science, No. 7)
John F., comp. Berens
Manufacturer: NY, Greenwood, [c.
ProductGroup: Book
Binding: Hardcover
ASIN: B000OUT04I

Book Description

-Astounding collection of several hundred amazing photographs

-Includes many never-before-published images

-Includes latest available pictures from the Hubble Space telescope A stunning collection of spectacular photographs taken from space, Spacecam brings the reader strange and beautiful images of unimaginably distant regions of the universe.

Celebrating the unique perspective of cameras freed from the confines of the earth, this gorgeous book looks at our own colorful planet and the patterns made by coastlines, river deltas, and weather patterns; explores the solar system with stunning pictures of our nearest neighbors; and shares the cosmic ballet of deep space.

Utilizing amazing photographs from spaceships, satellites, space telescopes, and planetary rovers, Spacecam brings together the stunning and the scientifically astounding, looking at our own world, our neighbors, and deep space.

Customer Reviews:

A visual exploration of Earth and deep space as seen from a variety of mediums.......2005-11-08

Spacecam: Photographing The Final Frontier From Apollo To Hubble provides a visual exploration of Earth and deep space as seen from a variety of mediums: from the eyes of astronauts, satellites, space telescopes, and NASA probes. Lovely color photos on every page pack in what astronauts and probes see in space; from images of Earth to other worlds. There have been many other astronomy photo books published over the years, but most have a more singular focus: Hubble, Earth-from-Moon, etc. Spacecam is the most multi-faceted collection of them all.

Book Description

Teaches students to use the language of sythesis directly (utilizing the grammar of synthon and disconnection) rather than translating it into that of organic chemistry.

Customer Reviews:

The best Synthon Approach book.......2000-02-11

In addition to the comment above (by bklassen@xula.com) i wanna say that Since the all synthesis mechanisms in the book are tried in real time, we can trust to the plans described as retrosynthetic methods.This helps us to use the methods without any doubt.More specificly i can say that when i was reading book i sometimes surprised:'How can this selectivity occurs!'.But in fact it was so and i had to accept and try to find its reason..For the last word,it really worths its high cost..

Most engaging book on the logic of synthesis I have read........1998-01-17

Back in the early '80s, I struggled with synthetic problems in sophomore organic. All my teachers told the classes to try retrosynthesis, but they were not able to communicate just how, in practice, this should work. After reading just 2 or 3 chapters (and they are short--I read them over dinner one evening), I thought I would go crazy with excitement. Things suddenly made so much sense. I think I lost a lot of sleep during the next few days as I devoured the little book. Few other chemistry books--if any--ever have engaged me so. In a class of its own.

Book Description

The debate over the age of the Earth has been ongoing for over two thousand years, and has pitted physicists and astronomers against biologists, religious philosophers against geologists. The Chronologers' Quest tells the fascinating story of our attempts to determine the age of the Earth. This book investigates the many novel methods used in the search for the Earth's age, from James Ussher and John Lightfoot examining biblical chronologies, Comte de Buffon and Lord Kelvin determining the length of time for the cooling of the Earth, to the more recent investigations of Arthur Holmes and Clair Patterson into radioactive dating of rocks and meteorites. The Chronologers' Quest is a readable account of the measurement of geological time. It will be of great interest to a wide range of readers, from those with little scientific background, to students and scientists in a wide range of the earth sciences.

Customer Reviews:

Biographies of Western European geologists.......2007-08-02

Should be titled "Biographies of early Western European Geologists"
Strong British Isle influence in style of writing, & selection of men to include. E.g. p. 119 says: "in 1800 - new breed of geologists - then names 6 from the British Isles. I wonder if there were competent geologist in America, China, etc.
E.g. says that "the Scottish scientist John Logie Baird was the inventor of TV" Most people give the credit to Farnsworhth in America. And many more examples could be givien.
Does not explain in much detail how we determine the age of the earth NOW. Several Latin phrases given with no translation. There are not many of us today who are Latin current.
Interesting history, but has this limited view.

Better Earth Ages Through Centuries of Scientific Effort.......2006-10-12

The story of how the church persecuted Galileo for advocating the view that the Earth was not the center of the universe is well known. Eventually, scientific evidence prevailed, and church authorities had to admit that no, the Bible was not the ultimate astronomical reference. No one argues for religious reasons these days that the Sun orbits the Earth. The controversy over evolution is in many ways comparable, in that there are religious reasons for doubting that evolution occurred but no basic scientific ones. There is an even more basic scientific question, the age of the Earth, that some religious people feel is answered by the Bible better than by science. Recently Governor Schweitzer of Montana (who happens to think the age of the Earth is in the millions of years) mildly chastised a Republican state lawmaker who insisted that the Earth was a biblical few thousand years old (and insisted his views were based on science, not religion). The lawmaker called Schweitzer's statement "incredibly bigoted." It is a surprise that in _The Chronologers' Quest: The Search for the Age of the Earth_ (Cambridge University Press) by geologist Patrick Wise Jackson, those who calculated the ages from tabulations drawn from the first books of the Bible are gently treated. Theirs was the best explanation available five hundred years ago. As humanity realized, however, that science produced better answers for showing how the physical world works, there were better datings and more evidence for them. Jackson's book is a useful history of these ideas, showing how the known age of the Earth gradually grew from a few thousand to the current 4,550 million years.

There are, Jackson reminds us in his first chapter, creation stories within most religions, not just Christianity, although some have taught that the universe was everlasting. The most familiar of the calculations for the age of the Earth backed by a literal Bible comes from Archbishop James Ussher who was from Dublin, and added the "begats" and other tallying points to get a starting point of 4004 BC. A trust in biblical authority eventually failed to keep the age of the Earth at that date, the same as it failed to keep the Earth at the center of the universe. Investigators like the German Athanasius Kircher, who was contemporary of Ussher, looked around at the volcanic regions of the Earth and began to speculate on what was going on below. Then researchers started trying to do calculations. Among them was Edward Lhwyd, a professor of chemistry who looked at the number of boulders that littered the floor of Welsh valleys and knew how many of them came crashing down in a typical year. He came up with a figure of between 200,000 and 300,000 years in 1692, a scientific stab at the Bible's numbers. Comte de Buffon around 1770 started doing experiments with heating and cooling iron globes in his forge, and imagined an Earth similarly starting hot and cooling down to its current temperature. He put a figure of 75,000 years as the age of the Earth based on such experiments, not realizing that the Earth has its own continuing heat source, a figure French churchmen did not like. By 1900, the geological layers (within the "geological column") were well understood and generally accepted. There were not, however, accepted times assigned to the layers. The rate of sedimentation, the rate of cooling of the Earth, oceanic salination, and other methods were applied to the problem, but it was not until there was an understanding of the disintegration sequences of elements in radioactive decay that there was a good clock to show timings of different layers. Radioactivity, first observed in 1896, rapidly was investigated and used, so that in 1911 the English geologist Arthur Holmes could present a dating for all the layers down to the Cambrian. It was analysis of lead isotopes in meteorites by American Clair Patterson in 1956 that gave us our current age of 4,550 million years.

Jackson has told the story of this chronology as a human quest over the centuries, concentrating on individual investigators and their piecemeal accumulation of data and formation of theory. There are plenty of asides to show the idiosyncrasies of the scientists involved and their interaction with each other and with the often disapproving societies in which they did their work. It is a great story of human cleverness triumphing over folkloric traditions to give an accurate picture of our planet's part in the cosmos.

The Chronologers' Quest: The Search for the Age of the Earth

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The Chronologers' Quest: The Search for the Age of the Earth
Patrick Wyse Jackson
Manufacturer: Cambridge University Press
ProductGroup: Book
Binding: Paperback
ASIN: B000Q7XR0C

Book Description

This book presents in a progressive way the techniques used in the proof of the hydrodynamic behavior of interacting particle systems. It starts with introductory material on independent particles and goes all the way to nongradient systems, covering the entropy and the relative entropy methods, asymmetric processes from which hyperbolic equations emerge, the equilibrium fluctuations and the large deviations theory for short-range stochastic dynamics. It reviews, in appendices, some tools of Markov process theory and derives estimates on the spectral gap of reversible, conservative generators. The book is self-contained and can be read by graduate students in mathematics or mathematical physics with standard probability background. It can be used as a support for a graduate on stochastic processes.

Customer Reviews:

A good idea, not quite fully realized.......2002-07-18

This book provides an excellent and thorough introduction to the limit theory of interacting particle systems; with an assumption that the reader is familiar with the basic theory as found in (for example) Liggett. The whole development is geared towards derving hydrodynamic limits, strongly based on the works of S.R.S Varadhan.

The material is however as presented much too advanced for a first graduate course on the subject because of the many dependencies on other advanced aspects of probability theory (e.g. Dirichlet forms, Large Deviations). There is a large collection (100 pages) of appendix matter covering some of these topics, but this material is better as a refresher than as an introduction!

The book is sadly marred, through the publisher's failure to copy-edit the material adequately (which in the past was most unusual for a Springer publication), and gives the impression of being a book in the "Lecture Notes in Mathematics" series, which prints straight from author's camera ready copy, without professional publishing assistance. As a result the book in its current form seems overpriced. There are numerous notational inconsistencies, spelling and grammatical error, and poor English idiom (while English is not the native language of the authors, good copy-editing should have corrected this), poor typography from tex, and worst of all, an ABSYMAL index (two pages for a 400 page book). Unfortunately a combination of these facts makes the book hard to read, since much cross referencing ends up being needed. There is plenty of hope for a second edition.

extensive converage on the subject.......2000-03-28

It covers the subject quite extensively. It would be a good reference boook. Moreover, if one wants to know about the recent developments in research on interacting particle systems, then this is the one to look for.

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