Global Investment Risk Management

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Date

October 15, 1999

Format

Hardback, 316 pages

ISBN

0071353151 / 9780071353151

$

Your Price

65.00



Overview


Main description

GLOBAL INVESTMENT RISK MANAGEMENT outlines hands-on systems, policies, and procedures that will help you take advantage of the returns available in overseas markets, while keeping closer track of the risks--not only those risks you can see but those you cannot. This practical guide to understanding and managing all aspects of international investment risk--from currency and equity risk to interest rate and commodity risk--includes: When, how, and why to use futures, options, swaps, and customized derivatives; Emerging markets investment strategies to help you seize ground-floor opportunities--while hedging against financial meltdowns; Cautionary tales of mega-billion dollar investment debacles--and how they could have been avoided; Long-term global diversification strategies from asset allocation pioneer Roger C. Gibson; Steps to design a detailed risk management program that fits your institution's risk and investment objectives; A detailed introduction and explanation of Value at Risk (VaR); Internet resources for valuable and cost-free global investment risk management information. Combining the knowledge and experience of 20 of the world's foremost global investment experts, GLOBAL INVESTMENT RISK MANAGEMENT is the first guidebook that explains--in practical and easy-to-understand language--how to understand and hedge against everpresent international investment risks. It will help you expand the boundaries of your investment program, ensuring that your organization makes full use of the world of investment opportunities, while sensibly and strategically hedging against international investment risks. Contributors include: David Beers. Vinod Chandrashekaran. Jason Cook. Christopher L. Culp. Ray Dalio. Roger C. Gibson. Steve H. Hanke. Joanne M. Hill. Michael J. Howell. Richard Johnston. Ira G. Kawaller. Ron Mensink. Ranga Nathan. Andrea M.P. Neves. Todd E. Petzel. Steven A. Schoenfeld. Istvan Szoke. Lee Thomas. Maria E. Tsu. Richard Vogel. Ezra Zask


Table of contents

Contributors. Chapter 1: Global Investment Risk Management. Chapter 2: Institutional Use and Control of the Investment Process. Chapter 3: Reducing Risk Using Global Bond Diversification. Chapter 4: The Multiple Dimensions of Global Equity Risk Management - A Practitioner's Perspective. Chapter 5: Currency Observations: Hedging Currency Risks. Chapter 6: Asset Allocation and the Rewards of Multiple-Asset-Class Investing. Chapter 7: Asset Allocation and Portfolio Strategies. Chapter 8: Management of Currency Fluctuations Associated with International Investments. Chapter 9: Sovereign Credit Ratings: A Primer. Chapter 10: Hedgin the Currency Exposure of a Nondollar Portfolio. Chapter 11: Equity Derivatives Strategies and Risk Management. Chapter 12: Value at Risk for Asset Managers. Chapter 13: Trading Risks in International Investments - Why Market-Neutral Strategies Sometimes Fail. Chapter 14: Managing Global Emerging Markets Risk. Chapter 15: Financial Meltdowns and Exchange Rate Regimes. Chapter 16: Asia Questions Risks? Chapter 17: Managing Latin American Investment Risk. Chapter 18: Eastern European Risk Management. Appendix. Index.


Author comments

Ezra Zask is a manager with Gibson Capital Management, Ltd., a leading money management and asset allocation firm. He is also a principal of CP Risk Management, LLC, a risk management consulting company, and president of Ezra Zask Associates, Inc., a funds management and advisory firm. Mr. Zask is a respected and influential authority in areas including international portfolio management, currency exposure management, and the use of derivatives in risk management.


Back cover copy

Proven Strategies for Hedging International Investment Risk—From Today's Most Respected Global Investment Professionals. Non-U.S. equities represent two-thirds of the world's market capitalization. The meaning for professional money managers and traders is clear: As investors demand higher investment returns and diversification, overseas investment is not just a luxury—it is a necessity. Global Investment Risk Management outlines hands-on strategies, policies, and procedures that will help you take advantage of the returns available in overseas markets, while keeping closer track of the risks—not only those risks you can see but those you cannot. Every aspect of global investment risk—from portfolio diversification requirements to unique regulatory issues—is discussed in chapters written by today's leading international investment authorities, including: Roger Gibson on Asset Allocation and the Rewards of Multi-Class Investing; Richard Vogel on Eastern European Risk Management; Lee Thomas on Reducing Risk Using Global Bond Diversification; Ray Dalio on Hedging Currency Risk; Christopher Culp, Ron Mensink, and Andrea M. P. Neves on Value at Risk. Global Investment Risk Management eschews vague theoretical observations to provide specific, hands-on advice, written by frontline professionals who prove themselves daily in the international investment battleground. It will open your eyes to the world of investment opportunities outside U.S. borders—even as it helps you sidestep the perils.





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