{"product_id":"9789814338455","title":"Global Derivative Debacles: From Theory to Malpractice","description":"\u003cp\u003eThis book analyzes in depth all major derivatives debacles of the last half century including the multi-billion losses and\/or bankruptcy of Metallgesellschaft (1994), Barings Bank (1995), Long Term Capital Management (1998), Amaranth (2006), Société Générale (2008) and AIG (2008). It unlocks the secrets of derivatives by telling the stories of institutions which played in the derivative market and lost big. For some of these unfortunate organizations it was daring but flawed financial engineering which brought them havoc. For others it was unbridled speculation perpetrated by rogue traders whose unchecked fraud brought their house down.\u003c\/p\u003e\u003cp\u003eShould derivatives be feared “\u003ci\u003eas financial weapons of mass destruction\u003c\/i\u003e” or hailed as financial innovations which through efficient risk transfer are truly adding to the \u003ci\u003eWealth of Nations\u003c\/i\u003e? By presenting a factual analysis of how the malpractice of derivatives played havoc with derivative end-user and dealer institutions, a case is made for vigilance not only to market and counter-party risk but also operational risk in their use for risk management and proprietary trading. Clear and recurring lessons across the different stories call not only for a tighter but also “smarter” control system of derivatives trading and should be of immediate interest to financial managers, bankers, traders, auditors and regulators who are directly or indirectly exposed to financial derivatives.\u003c\/p\u003e\u003cp\u003eThe book groups cases by derivative category, starting with the simplest and building up to the most complex — namely, Forwards, Futures, Options and Swaps in that order, with applications in commodities, foreign exchange, stock indices and interest rates. Each chapter deals with one derivative debacle, providing a rigorous and comprehensive but non-technical elucidation of what happened.\u003c\/p\u003e\u003cp\u003eThe book is translated and available in French, Russian, Simplified Chinese and Korean.\u003c\/p\u003e\u003cb\u003eContents:\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eDerivatives and the Wealth of Nations\u003c\/li\u003e\n\u003cli\u003e\n\u003cb\u003e\u003ci\u003eForwards:\u003c\/i\u003e\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eShowa Shell Sekiyu K K\u003c\/li\u003e\n\u003cli\u003eCitibank's Forex Losses\u003c\/li\u003e\n\u003cli\u003eBank Negara Malaysia\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cb\u003e\u003ci\u003eFutures:\u003c\/i\u003e\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eAmaranth Advisors LLC\u003c\/li\u003e\n\u003cli\u003eMetallgesellschaft\u003c\/li\u003e\n\u003cli\u003eSumitomo\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cb\u003e\u003ci\u003eOptions:\u003c\/i\u003e\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eAllied Lyons\u003c\/li\u003e\n\u003cli\u003eAllied Irish Banks\u003c\/li\u003e\n\u003cli\u003eBarings\u003c\/li\u003e\n\u003cli\u003eSociété Générale\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cb\u003e\u003ci\u003eSwaps:\u003c\/i\u003e\u003c\/b\u003e\u003cul\u003e\n\u003cli\u003eProcter and Gamble\u003c\/li\u003e\n\u003cli\u003eGibson Greeting Cards\u003c\/li\u003e\n\u003cli\u003eOrange County\u003c\/li\u003e\n\u003cli\u003eLong-Term Capital Management\u003c\/li\u003e\n\u003cli\u003eAIG\u003c\/li\u003e\n\u003cli\u003eFrom Theory to Malpractice: Lessons Learned\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cb\u003eReadership:\u003c\/b\u003e Economists; undergraduates and graduates majoring in finance, economics and business administration; professionals, financial managers and CPAs in the financial service industry.\u003cbr\u003e","brand":"World Scientific Publishing Company, Incorporated","offers":[{"title":"Default Title","offer_id":47185516953840,"sku":"9789814338455","price":23.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/9789814338455_p0.jpg?v=1763691321","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/9789814338455","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}