Everything you need to know in order to manage risk effectivelywithin your organization
You cannot afford to ignore the explosion in mathematicalfinance in your quest to remain competitive. This exciting branchof mathematics has very direct practical implications: when a newmodel is tested and implemented it can have an immediate impact onthe financial environment.
With risk management top of the agenda for many organizations,this book is essential reading for getting to grips with themathematical story behind the subject of financial risk management.It will take you on a journey--from the early ideas of riskquantification up to today's sophisticated models and approaches tobusiness risk management.
To help you investigate the most up-to-date, pioneeringdevelopments in modern risk management, the book presentsstatistical theories and shows you how to put statistical toolsinto action to investigate areas such as the design of mathematicalmodels for financial volatility or calculating the value at riskfor an investment portfolio.
* Respected academic author Simon Hubbert is the youngestdirector of a financial engineering program in the U.K. He bringshis industry experience to his practical approach to riskanalysis
* Captures the essential mathematical tools needed to exploremany common risk management problems
* Website with model simulations and source code enables you toput models of risk management into practice
* Plunges into the world of high-risk finance and examines thecrucial relationship between the risk and the potential reward ofholding a portfolio of risky financial assets
This book is your one-stop-shop for effective riskmanagement.