Julian Walmsley - Böcker

In the beginning, there were four financial instruments: a bank deposit, a bill of exchange, a bond, and an equity. Today, as a result of a steady stream of financial innovations, the market landscape is far less sparse-and far more complex. To help you maneuver smoothly and profitably within this crowded and much-evolved arena, Julian Walmsley's New Financial Instruments has been thoroughly revised and expanded to include complete coverage of all the new financial instruments available to market practitioners. New Financial Instruments, Second Edition offers a clear, practical perspective on the shifts and changes behind today's dizzying proliferation of market tools and techniques. Its in-depth examination of both international and domestic markets probes the nature, causes, and consequences of financial innovation, as well as the ins and outs, advantages and disadvantages of the myriad products engendered by change. New Financial Instruments, Second Edition is a comprehensive, comparative guide offering concise descriptions of convertibles, warrants, preferred stocks, and other instruments. In addition, Walmsley's clear-eyed analysis distills the latest variations in areas such as barrier options, asset-backed securities, credit derivatives, structured notes, and equity derivatives. There's important information on the origin and methodology of each innovative technique, as well as essential details on the risks, rewards, and key considerations that must be understood before deciding on one instrument over another. New Financial Instruments, Second Edition takes you step-by-step through a wide range of procedures, revealing how to:* Analyze risk level and return* Use interest rates and currency swaps in synthetic securities* Value exotic options, weighing the risks they entail against the leverage they provide The book also addresses such key topics as:* Basic analytical tools-present value calculations, zero-coupon curves, modern portfolio theory, value at risk, continuous compounding* Securitization-transferable loan instruments, Eurocommercial paper, and asset-backed securities* Swaps-interest rate, currency, diff, zero coupon, asset, and equity* Options-barrier, binary, cliquet, ladder, rainbow, shout* Mortgage-backed securities-market development, superfloaters and inverse superfloaters, PAC bonds, reverse PACs and lockouts, TAC bonds Supported by extensive illustrations and working examples, this indispensable resource is a must for anyone seeking to understand and apply the latest financial innovations. A comprehensive guide to today's new financial instruments-what they are, how they work, and how you can profit from them Written by an expert practitioner in the field, this up-to-date, systematic guide takes you through the ins and outs, advantages and disadvantages, risks and rewards of today's sophisticated new financial tools and techniques. Now revised and expanded, New Financial Instruments has complete coverage of bonds, equities, warrants, and other traditional vehicles, as well as a comprehensive overview of the latest developments in asset- and mortgage-backed securities, credit and equity derivatives, convertibles, and preferred stocks. "With the flood of innovations we have seen in international finance in recent years there was a great need for a succinct, comprehensive survey of the field. New Financial Instruments fills that need admirably."-Professor Brian Scott-Quinn, ISMA Centre, University of Reading, U.K. (www.ismacentre.rdg.ac.uk) "For the practitioner to keep up with innovations across a wide range of markets is always difficult. This book will be a great help to those who need to bring themselves up to date with a great variety of markets."-John Langton, Chief Executive, International Securities Market Association, Zurich

Dramatic changes in the foreign exchange and money markets have considerably altered the way international business will be conducted in the new millennium. The advent of the Euro, the enormous growth of the swaps market, and the daily increase in the development of derivative instruments are at the forefront of this evolution. If you're an investor, corporate finance officer, or anyone seeking to gain the essential edge in the world's major financial markets, resources for sound, accessible, and timely information are more important than ever. This updated, totally revised, and expanded edition of finance expert Julian Walmsley's popular classic is the one book you'll need. Practical and easy-to-understand, this unique reference provides guidance on every important market around the world, including closely related money markets such as the commercial paper and Eurocommercial paper markets, national money markets, interest rate options markets, and numerous related instruments. You will also find state-of-the-art sections on:* The Euro* Swaps-the instrument with the fastest growing market of all time* Money market calculations* Foreign exchange calculations* Derivatives* Risk issuesFrom currency option markets to the "third generation" hedging products that combine forwards and options, The Foreign Exchange and Money Markets Guide, Second Edition, unites volumes of information in one single source-and demystifies the seemingly complex concepts facing investors today. Julian Walmsley is Managing Director of Askeaton Associates Ltd. and a Visiting Research Fellow at the International Securities Market Association Centre for Securities Research at the University of Reading, England. Previously, he was Chief Investment Officer for Mitsubishi Finance International and also Senior Investment Officer for Oil Insurance in Bermuda. He spent many years working with Barclays Bank's foreign exchange operations and their interest rate and currency swaps group in London and New York, and was a director in charge of swaps at the London subsidiary of National Bank of North Carolina (NCNB). His other books include New Financial Instruments and The Foreign Exchange Handbook (both published by Wiley), and Global Investing: Eurobonds and Alternatives. Mr. Walmsley earned his MA in economics at Cambridge University.THE CLASSIC GUIDEBOOK COMPLETELY REVISED AND UPDATED FOR THE NEW MILLENNIUMWritten by a well-known financial author and respected authority on international investing, trading, and risk management, this updated, totally revised, and expanded second edition of The Foreign Exchange and Money Markets Guide provides essential, easy-to-understand coverage of the considerable developments that have drastically reshaped the way international business will be conducted in the new millennium. From state-of-the-art sections on the dawn of the Euro, the rapidly growing swaps market, and the daily increase in derivative instruments, to money market and foreign exchange calculations and risk issues, this invaluable classic includes the most timely, accessible, and dependable information on every important market around the world. Here is the quintessential resource for institutional investors, bankers, pension fund managers, or anyone seeking to gain that crucial edge in the world's major financial markets.