The complete guide to derivatives, from the experts at the CFA Derivatives is the definitive guide to derivatives, derivative markets, and the use of options in risk management. Written by the experts at the CFA Institute, this book provides authoritative reference for students and investment professionals seeking a deeper understanding for more comprehensive portfolio management. General discussion of the types of derivatives and their characteristics gives way to detailed examination of each market and its contracts, including forwards, futures, options, and swaps, followed by a look at credit derivatives markets and their instruments. Included lecture slides help bring this book directly into the classroom, while the companion workbook (sold separately) provides problems and solutions that align with the text and allows students to test their understanding while facilitating deeper internalization of the material. Derivatives have become essential to effective financial risk management, and create synthetic exposure to asset classes. This book builds a conceptual framework for understanding derivative fundamentals, with systematic coverage and detailed explanations. Understand the different types of derivatives and their characteristics Delve into the various markets and their associated contracts Examine the use of derivatives in portfolio management Learn why derivatives are increasingly fundamental to risk management The CFA Institute is the world's premier association for investment professionals, and the governing body for the CFA, CIPM, and Investment Foundations Programs. Those seeking a deeper understanding of the markets, mechanisms, and use of derivatives will value the level of expertise CFA lends to the discussion, providing a clear, comprehensive resource for students and professionals alike. Whether used alone or in conjunction with the companion workbook, Derivatives offers a complete course in derivatives and their markets.
From the Back Cover
The definitive guide to derivatives from CFA Institute From the elite training institution promoting the highest standards of ethics, education, and professional excellence anywhere in the world, Derivatives provides unmatched instruction and practical guidance to using basic derivatives in your investment strategy to both grow wealth in derivative markets and manage portfolio risk. This complete, one-stop training resource takes you from the basics of forwards, futures, options, and swaps to risk management approaches using swaps and options techniques. This and every other volume in the CFA Institute Investment Series aims to bridge current practice, investment theory, and ethical and professional standards to give you a strong foundation of advanced investment analysis and real-world portfolio management skills. Written in conjunction with ancillary materials to aid both guided instruction and self-study, this turnkey resource features: A full range of derivative instruments and their specific characteristics Dozens of informative examples and thought-provoking problems designed to accelerate mastery Up-to-date material, authoritative understanding, and expert guidance from CFA charterholders Derivatives is the gold-standard road map to these versatile securities.
From the front Cover
Whether you are learning the ropes of the investment industry or have been a practicing investor or risk manager for many years, Derivatives offers you a conceptual framework for mastering basic derivatives, derivative markets, and using options in risk management. This authoritative guide is a turnkey solution to understanding these financial instruments that have become essential to effectively managing financial risk and creating synthetic exposures to asset classes. Comprehensive in scope and depth of coverage, this volume provides access to the most prestigious, professional-quality information on managing your investment portfolios. The editors and contributors bring a wealth of global, practical expertise and world-class knowledge in a framework that enables you to take action on informed decisions with confidence in the real world. Like all books in the CFA Institute Investment Series, meticulous attention to detail is given to ensure a fully up-to-date treatment of subject matter, accuracy of mathematical formulas, and strong pedagogical methodology to streamline and fortify the learning process. Throughout the pages of this guide, illustrative examples, charts, tables, and graphs visually clarify the covered concepts. Additionally, chapter summaries highlight the key takeaways for both review and quick reference, practice problems give you a way to test your comprehension, and new tools ensure you gain every benefit from the valuable material. For those who want to take their skillset further, a companion workbook is available which contains learning outcomes and summary overview sections as well as challenging problems with solutions that all sync with the main book. No other instructive resource on the market offers a faster or more thorough way to master: Forward, futures, options, and swaps markets Valuation of forward, futures, options, and swap contracts Best practices for using derivatives in portfolio and risk management Derivatives is your best-in-class guidebook from the premier association for investment professionals around the world.