Quantitative Risk Management: A Practical Guide to Financial Risk: 669 (Wiley Finance) - Hardcover

Über die Autorin bzw. den Autor

THOMAS S. COLEMAN has worked in the finance industry for more than twenty years and has considerable experience in trading, risk management, and quantitative modeling. Mr. Coleman currently manages a risk advisory consulting firm. He is the author, together with Roger Ibbotson and Larry Fisher, of Historical U.S. Treasury Yield Curves.

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State-of-the-art risk management techniques and practices forunderstanding, assessing, and responding to risk in financialfirms

"The title says it all. This really is 'A Practical Guide toRisk Management.' It is an enjoyable read for almost anyone in theinvestment field, while still providing lots of insights to riskprofessionals. A very well-written book!" —Roger G. Ibbotson,Chairman & CIO, Zebra Capital Management; Professor in Practiceof Finance, Yale School of Management

"By combining solid probabilistic foundations with a relentlessfocus on real practitioner issues, Coleman has produced aninvaluable reference for experienced risk managers and traders andalso an introductory text for those new to the field." —AndrewMorton, Global Head of G10 Rates, Citigroup; co-originator of theHeath-Jarrow-Morton interest rate model

"Very clear and easy to understand, concrete and matter-of-fact.It is a rare effort to make difficult subjects understandable whileremaining true to the technical and professional foundations."—Cyril Le Touzé, Chief Risk Officer, CréditMutuel–CIC Group

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Risk is at the core of any financial business. QuantitativeRisk Management introduces the technical and managerial toolsyou need to assess and respond to risk. This comprehensive volumeputs risk management in the hands of those on the front linesresponsible for managing firms and their profits, and also providesreaders access to a website that offers practical guidance forusing the techniques discussed in the text.

In recent years, risk tools and techniques have grownincreasingly mathematical and technical. Yet risk management ismuch more than just numbers and must be placed in the context ofthe broader goals of managing people, processes, and institutions.Author and risk expert Thomas Coleman reconciles the mathematicaland managerial elements of the field in a way that all financialprofessionals can understand.

Understanding risk requires thinking carefully aboutuncertainty. Unfortunately, as humans we are often bad at doing so.Coleman introduces basic concepts in probability, focusingparticularly on paradoxes and conundrums that highlight the errorsand fallacies we can easily fall into in order to point you towardsa deeper appreciation of how to think about, and manage,uncertainty.

Of course, risk management requires knowledge and appreciationof technical tools. This book details the techniques and formulasused to calculate risk, covering both fundamentals and advancedtopics in a clear, accessible way. Coleman introduces and explainsquantitative tools including volatility, VaR, contribution to risk,best hedges, and many others.

Beyond the numbers, Coleman takes you through issues such asmanaging people, data and IT, and infrastructure. In the end, riskmanagement is about building a culture and organization that canrespond to risk and withstand unanticipated events.

Innovative, wide-ranging in scope, and bringing the essentialsof managing risk to life, Quantitative Risk Managementuniquely combines the models, tools, and techniques that anyoneworking in the financial field must understand to build better,safer risk management practices.