Book Description

Praise for Managing Global Financial and Foreign Exchange Rate Risk

"From caplets and corridors to perps and wild card options, Homaifar covers the details and the essentials of the foreign exchange and futures markets. This is a thorough, detailed, yet readable and clear treatment of foreign exchange and futures markets."
––George M. McCabe
Professor of Finance, University of Nebraska
Editor, Quarterly Journal of Business and Economics

"Professor Homaifar’s book does an excellent job of explaining in practical terms the application of options and futures in managing risk. The examples in the book provide an excellent way for students and professionals to gain experience in working realistic problems."
––Dr. Billy Helms
Professor and Department Chair
College of Commerce and Business Administration, The University of Alabama

"Professor Homaifar has the knack of reducing esoteric and arcane concepts into terms that anyone who teaches courses in risk management or is a practitioner in risk management can understand and apply. I highly recommend this book."
––Dr. Ken Hollman
Professor and Holder of the Tommy Martin Chair of Insurance
Middle Tennessee State University

"Managing Global Financial and Foreign Exchange Risk provides clear and lucid explanations of what students often find is the most difficult subject matter in finance. In addition, the book is well written and thorough. Highly recommended."
––Harold A. Black
James F. Smith Jr. Professor in the Department of Finance
University of Tennessee ... Read more

Reviews (2)

Excellent book
Homaifar made complicated material more easy to understand. The examples provided help explain the subject matter thoroughly. Definitely a must-read!

I Wish I Had This Book In Grad School
Dr. Homaifar has done an outstanding job of presenting some very complex material in a clear, concise manner with excellent examples. I highly recommend this book to anyone interested or involved in finance and investing. ... Read more

Book Description

Models and Strategies for Exchange Rate ForecastingMichael R. RosenbergGetting an accurate exchange rate is critical for any company doing business in today's global economy. Exchange Rate Determination--written by the number one-ranked foreign exchange team in the world--examines the methods used to accurately and profitably forecast foreign exchange rates.

This hands-on guidebook uses extensive charts and tables to examine currency option markets, productivity trends and exchange rates; technical analysis methods to improve currency forecasting accuracy; and more.

Book Description

PARLONS AFFAIRES! prepares students to take the exam leading to the Certificat pratique de français commercial et économique and can be used to prepare students for the Diplôme supérieur de français des affaires. ... Read more

Reviews (2)

Tres Bien
I used this book in my business French class and I thought that is was a good choice for people with notions of basic French.

It covers the business vocabulary through texts and exercises. That for me was the most helpful part as it gave me a quick overview of the business vocabulary. I was able to incorpate this into my knowledge of French and fake my way through business conversations.

It also gives readers an overview of French traditions, habits, and other quirks, which is both amusing and informative :-)

Thorough and Concise
During the course of a French business class, we used this book as the central text. After that semester, I was sincerely impressed by the cogent and clear explanation given by Berg in this book. It is divided into sections (modules) that facilitate comprehension both at the undegaduate and graduate levels. It is easily divisible, providing lenency concerning curriculum planning and course structure. Perhaps the most striking of Parlons Affaires! is format; it was designed as a prepatory text for the Diplome de francais d'affaires (DFA) administered by the Chamber of Commernce and Industry of Paris (CCIP). In this fashion, the book is indispensable for 1) an introduction into the french business world and lexicon; 2) those who wish to prepare for the DFA; 3) any person desiring a better understanding of french business operations. Finally, I recommend, without reservation, this text. Choose it and you will not be disappointed! Il vaut la peine! ... Read more

Book Description

"This book of essays is full of rampant idealism. Its authors--educators, think-tankers, corporate executives, consultants, book authors, nonprofit association executives, and a German politician--share a desire to better the world through their ideas and actions. Many qualify as do-gooders in the best sense of the phrase."
--Christian Science Monitor

This third volume from the acclaimed Drucker Foundation Future Series focuses on the basis of society itself--the community. Featuring the examples of successful communities from New York City to Hawaii, The Community of the Future presents insights from Peter F. Drucker, Stephen R. Covey, Arun Gandhi, Elie Wiesel, James L. Barksdale, and many others. Their powerful essays explore what our communities will look like tomorrow--how we will live, work, communicate, educate our children, and govern ourselves.

This collection shows readers:
* How to recognize and anticipate the trends that transform society
* The impact of new communications technology, including global and virtual communications
* How to create organizational communities and communities in the workplace
* How to envision and shape communities that will build values and embrace humanity

From businesses, to communities of faith, to schools, to cyberspace--the gamut of human communities is explored by the world's foremost thinkers. ... Read more

Reviews (1)

Community will determine the future quality of our lives.
Before WW I, fewer that 5% of the population lived in a city. Today in developed countries, less that 5% live in a rural area. All of this has occured in less than 100 years.

The key to survival and health of this new urban society is the development of communities in the city, by non-profit social sector insititutions, according to Peter Drucker.

Human beings need community. If no communities are available for constructive ends, there will be destructive communities, i.e. gangs to fill the void.

This thoughtfully written, well organized book is about the future -- the future quality of our lives. In "The Community of the Future", the editors have gathered the wisdom and insights from 31 distinguished authors, from around the world, to discuss their unique perspective on the nature of community.

The book is divided into six sections: * Trends Shaping the Evolution of the Community * The Values of Community * The Impact of New Communication Technology * Creating Community in Organization * Strengthening the Social Fabric * Global Dimensions of Community.

If you are interested in creating the future, strengthening our communities and improving our understanding of our world, I highly recommend "The Community of the Future".

Building the global community of the future is not the work of tomorrow. We are each called to build it today -- to build it now. ... Read more

Book Description

In recent years, currencies of major industrial nations have fluctuated widely in response to trade imbalances, interest rates, commodity prices, and political uncertainty. The pressure to maintain currency parity has led to the breakdown of many exchange rate mechanisms, and has forced the need for active foreign exchange hedging decisions to prevent the erosion of profit margins.

To counteract this worldwide market volatility, currency options were developed as an alternative risk management tool to the spot and forward foreign exchange market, and owe their existence to the demands of foreign exchange users for alternative hedging and exposure management techniques.

This essentially practical book gives a thorough and comprehensive guide to currency options, with clear explanations of the technicalities. It should become recommended reading for many business courses, and will be of interest to new recruits and junior members in investment and merchant banks; to Forex specialist firms; to Treasury institutions; and to investors who require a quick guide within a trading and sales environment.
... Read more

Book Description

Currency Competition and Foreign Exchange Markets is a major new theoretical and empirical study of international currencies that focuses on the role the Euro (the future European currency) will play in the international monetary and financial system, along with the US dollar and the Japanese yen. In contrast to much of the existing literature that approaches the subject from a macroeconomic perspective, Philipp Hartmann develops a theoretical model that uses game theory, time series and panel econometrics, and links financial markets analysis with transaction cost economics. The resultsare presented with reference to political, historical and institutional considerations, and provide accessible answers topolicy makers, business people and scholars world wide. ... Read more

Book Description

The World Trade Organization is likely to be a major international organization for the foreseeable future. This volume, the first full-length study of the WTO and GATT from the viewpoint of public choice and political economy, details the mechanics of the multilateral trading system that emerged from the Uruguay Round of GATT. The authors, who were involved in the negotiations of the Uruguay Round, explain why WTO rules are phrased the way they are, the successes and failures of WTO and GATT, and how business, industrial associations and political lobbies influence the multilateral trading system. ... Read more

Reviews (1)

Excellent on Central Banks & Money Politics!
The Book gives an excellent comparative account of these important central banks, while covering with detail the macroeconomic intricacies of monetary policy decision making in these nations. It also includes a fascinating and detailed exposure of the historical developments in these cntral banks. A must for anyone trying to understand the current global central bank framework. ... Read more

Book Description

Emerging economies have been the beneficiaries of sharply increased volumes of international capital inflows in the past decade. These inflows have eased foreign financing constraints and offered the potential for higher investment and growth.At the same time, they have posed challenges for policy makers by threatening to fuel inflation, adversely affect international competitiveness, and undermine domestic banking stability.The essays in this volume provide a timely and useful comparison of the experiences of emerging Pacific Basin countries in both Asia and Latin America. ... Read more

Book Description

Book Description

Managing Foreign Exchange Risk, Third Edition, is revised and updated to integrate three major issues that have become central foreign exchange considerations—the euro, emergingmarket currencies and crises, and the effects of technology on the mechanisms of trading. Professional money managers and traders, along with institutional investors, receive a detailed overview of the international monetary system and the mechanics of forex trading along with actual forex market conventions, real-world examples, and in-depth discussion of forward contracts, exotics, and overlay programs.

Reviews (3)

Fair Overview
The book is a fair overview of foreing exchange risk with lots of formulas.I couldn't find much on "advanced strategies for global corporations."For example, less than two pages are used to discusszero-premium collar programs.It might be OK for new global investors butit's got very little for corporate treasurers.

Useful introduction.
This book is a good intro to FX risk.Plenty of real world examples serve to drive key points home.Good deal for those looking to learn the basics very quickly but also provides insight into more sophisticated theory.

Updated Second Edition
This second edition has been greatly expanded with materials on the mechanics of the foreign exchange and options markets.The sections on theinternational monetary system have been updated, especially with respect tothe European monetary system. New sections have been added on exoticcurrency options, specifically on barriers, average rate, basket andquantos options. There are two new chapters, one on currency optionapplications and another on currency overlay management. ... Read more

Book Description

The program provides over 15 minutes of interactive simulated forex dealing.The simulation directly supports the book and the ACI examination. ... Read more

Reviews (2)

The best!
This book is the best guide to FX markets and the corresponding instruments. The book structure and contents are extremely well planned and written to provide not only a beginner with first hand knowledge, but can be a good refresher for others.

Excellent
This book is a definitive masterpiece. ... Read more

Book Description

This book offers a fascinating understanding of the decisions that determine exchange rates. It sheds light on the psychology behind spectacular market phenomena as well as on subliminal processes in daily trading decisions.

In an understandable and engaging analysis of his research with many of the world’s leading market participants, Thomas Oberlechner draws on the first-hand expertise of the professionals whose decisions shape the market. Expanding the field of behavioral finance, The Psychology of the Foreign Exchange Market incorporates new insights from a variety of psychological perspectives - ranging from social market dynamics; the role of affects and intuition in trading decisions; cognitive biases of traders; psychological risk-taking phenomena; subjective attitudes in market expectations; the interdependent relationship between trading institutions and the financial news media; the dynamics of market rumors, and personality characteristics of successful traders; to the role of metaphors in the decisions of participants and the nature of the market.

"Economists propose elegant theories and sophisticated models to explain exchange rates, but to no avail. Traders, however, enjoy uncommon success in these markets. The difference is psychology. Economists deny it. Traders exploit it. And Thomas Oberlechner explains it – very skilfully. Whether you want to be a better economist or a better trader, read this outstanding book!"
—Mark Kritzman, Windham Capital Management Boston, LLC

"Finally, a book that helps us to understand the dynamics of the largest market in the world. As petrodollars and financial trade foreign exchange transactions gave way to pure trading for profit and speculation, it was often difficult to ascertain the dynamics of trading. Thomas Oberlechner has provided an excellent understanding in this book."
—Marshall N. Carter, Chairman/CEO (retired), State Street Bank and Trust Co., Boston

"Financial markets, with their interaction of economic and psychological mechanisms, increasingly attract researchers’ and practitioners’ interests. Thomas Oberlechner brilliantly examines financial markets by taking a psychological perspective. This splendid book impresses by its detailed research and provides a thorough understanding of the complex yet attractive mechanisms of financial markets."
—Professor Erich Kirchler, Institute for Psychology, University of Vienna

"Thomas Oberlechner has pulled together an astonishing array of first-rate research on how financial markets are shaped and shifted through all-too-human interaction and decision. Moreover, he has contributed a good deal of highly original research into the workings of the foreign exchange market and on the people who build and sustain this market. The Psychology of the Foreign Exchange Market summarizes in a most readable way what we know about the people - traders, analysts and journalists - who make markets and whose everyday decision making has, to say the least, far ranging social consequences. A ‘must read’ for anyone who wonders about the seemingly unfathomable mysteries of exchange rates and the making of markets."
—John Van Maanen, Erwin Schell Professor of Organization Studies, MIT ... Read more

Book Description

The Global Money Markets is the ultimate and most comprehensive guide to the world’s money markets and the products that make up this vital element of the global economy. Written in a clear, accessible style, and including the most up-to-date information, this book is a great resource for all finance professionals, including market traders, salespeople, and corporate treasurers.

For the first time, this book brings together the complete range of products used in markets around the world. Through extensive use of real-world examples, case studies, and Bloomberg screens, every aspect of the market is described and analyzed in detail.

The instruments covered include:

• Traditional debt instruments such as bills, CDs, and bankers acceptances
• Corporate debt products, including commercial paper and medium-term notes
• The new range of securitized products, including short-term asset-backed securities and mortgage-backed securities
• Asset-backed CP conduits
• Floating-rate notes
• Derivative instruments, including short-term interest rate futures and swaps
• Repurchase and reverse repurchase agreements

This book is the complete reference work on the global money markets, written by the leading names in the business. The Global Money Markets is vital reading for anyone with an interest in money market products, practices, and mechanics. ... Read more

Reviews (2)

Good overall book on money markets
This is a timely book that covers in great detail virtually all apsects of the markets. Well written and well worth getting.

Stigum (or Success) versus Choudhry
A one-star Amazon review of the late Marcia Stigum's book: "The Money Market" denigrates her work, but recommends this book. Coincidentally it seems to have appeared just after a reviewer recommended her book over "The Repo Handbook" authored by Choudhry, one of the authors of this book.

It hardly seems sporting to denigrate the excellent work of Ms. Stigum when she is no longer able to set the record straight. Her classic work on the U.S. markets that allows one to deduce the dynamics - and equips one to solve the mathematics - of the global money markets deserves high honors.

The unsportsmanlike behavior doesn't end there, since it seems that books with titles that compete with Mr. Choudrhy's upcoming releases have multiple one-star reviews from obvious pseudonyms and free internet accounts. The books that get the most attention from this stalker are the most commercially successful in the competing areas. Perhaps it is a fan gone mad, or perhaps there is a more obvious explanation.

I would have given this book three stars, but I deducted for bad sportsmanship. ... Read more

Book Description

Generalized financial volatility is capitalism's Achilles' heel. And nowhere is the problem of controlling such volatility more acute than in monetary and exchange-rate relationships across countries - the central theme of this book. The Rules of the Game brings together essays, written over the course of thirty years, by a major figure in the field that analyze and compare a wide variety of important international monetary regimes. These range from the establishment of the gold standard in the nineteenth century through Bretton Woods, the dollar standard, floating exchange rates, the European Monetary System, to current proposals for reforming world monetary arrangements. The essays are unique in that they specify precisely the rules of the game for each international monetary regime - past, present, and future. For ease of reference, the book offers boxed summaries of each set of rules and then discusses their advantages and disadvantages from the gold standard down to the author's proposal for a common monetary standard for the twenty-first century. Part I assesses each monetary regime's success in stabilizing prices and exchange rates, while fostering international trade. Part II addresses a central question each country faces: what are the benefits of giving up exchange-rate flexibility to join a common monetary standard? Part III focuses on overall monetary reform for limiting financial volatility and exchange-rate crises in the next century - including whether or not Western Europe should adopt a common currency. The last chapter synthesizes and updates the author's previous writings on rationalizing monetary arrangements among the major industrial countries of North America, Western Europe, and East Asia. ... Read more

Book Description

TRADE THE WORLD WITH CONFIDENCE

"Barbara Rockefeller brings the authority and perspective of a knowing insider to this well-written account of the risks and opportunities in trading highly leveraged markets like interbank currencies and futures."
–Nelson Freeburg, Editor, Formula Research, Inc.

Face it, the U.S. stock market has been analyzed to death. Long- and short-term investors are looking outside domestic markets to enhance portfolio performance and diversify the way they trade. This is why the concept of a global trader has become so prevalent. Whether you are looking to balance your portfolio, generate profits, or hedge risk, The Global Trader can help you make informed decisions about your global investments. Let Barbara Rockefeller unlock the opportunities and help you find the tools, guidance, and resources to make the most of trading in the less efficient yet potentially more profitable global markets of Europe, Asia, and beyond.

www.wileyfinance.com ... Read more