An Introduction to Derivatives and Risk Management

• Flexible mathematical approach puts more complex material in end-of-chapter appendices. Internet-related information and text web site keeps material current. Real-world examples from actual market conditions show practicality of chapter theories.
• A collection of figures in the text that build on each other, illustrating links between puts, calls, stocks, risk-free bonds, futures, options, forwards, Black-Scholes call/put pricing, etc.
• Concept Problems provide extra challenge beyond typical end-of-chapter material.
• Sections on mortgage-backed securities, structured notes, derivatives accounting, and best practices benchmarks for risk management. This text has an overall outstanding blend of institutional material, theory, and practical applications.

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