David Shirreff Livres

The concept of financial risk and the realties of financial risk management. Understanding risk and weighing risk against reward have become central to all commercial activity in particular to the financial markets.The concept of risk management used to refer to exclusively to the insurance industry but it was hijacked by wizards in financial institutions in the1980s, initially to make their gambling in the markets seem more respectable. Good risk management requires a constant sharpening of one's awareness to new risks and to the probabilities of different outcomes.This guide will increase the reader's risk awareness, by presenting concepts in a simple and entertaining way, and by explaining the endeavours, mistakes and successes of others, as they have tried to identify, measure and simplify risk, and make it work for them. It looks at swaps, futures, options, derivatives, hedging principles, formulas, Monte Carlo simulations, chaos theory, neural networks, Raron (or risk-adjusted rate of return on capital), stress tests, worst case scenarios and all kinds of games that are played in the cause of managing risk. With great panache, colour and clarity David Shirreff does a remarkable job of throwing light on one of the most complicated aspects of business and finance.

MANY OF US FEEL ANGRY about banks and bankers. But why publish a book when there are so many learned papers on bank reform freely available on the web? Answer: To combat white noise and cut to the chase. This little guide is intended as a short and easy companion for experts and laymen alike in fact anyone who reckons that bank reform hasn t gone nearly far enough. It explains what went wrong and what needs to change to rebuild the reputation of banks, bankers and, even more importantly, their regulators. Seven years since the start of the latest financial crisis, there is little sign that rule-makers have found the right tools to make banks serve society and their customers better. While some bankers are guilty of bad and even criminal behaviour, regulators are at least as responsible for failing to tackle the curse of modern banking: the culture of entitlement that has skewed many banks towards rewarding their directors and employees first, while putting their customers and shareholders second. Surely capitalism can do better."

"Can we prevent another financial crisis? A sensible, actionable, and totally accessible call to arms from an acclaimed financial journalist"--