EUR 65,71
  • Tous les prix incluent la TVA.
Il ne reste plus que 1 exemplaire(s) en stock (d'autres exemplaires sont en cours d'acheminement).
Expédié et vendu par Amazon. Emballage cadeau disponible.
Vous l'avez déjà ?
Repliez vers l'arrière Repliez vers l'avant
Ecoutez Lecture en cours... Interrompu   Vous écoutez un extrait de l'édition audio Audible
En savoir plus
Voir les 2 images

The Handbook of Hybrid Securities: Convertible Bonds, CoCo Bonds and Bail–In (Anglais) Relié – 28 mars 2014

1.0 étoiles sur 5 1 commentaire client

Voir les 2 formats et éditions Masquer les autres formats et éditions
Prix Amazon
Neuf à partir de Occasion à partir de
Format Kindle
Relié
EUR 65,71
EUR 62,93 EUR 88,18
Note: Cet article est éligible à la livraison en points de collecte. Détails
Récupérer votre colis où vous voulez quand vous voulez.
  • Choisissez parmi 17 000 points de collecte en France
  • Les membres du programme Amazon Prime bénéficient de livraison gratuites illimitées
Comment commander vers un point de collecte ?
  1. Trouvez votre point de collecte et ajoutez-le à votre carnet d’adresses
  2. Sélectionnez cette adresse lors de votre commande
Plus d’informations
click to open popover

Offres spéciales et liens associés


Description du produit

Présentation de l'éditeur

Introducing a revolutionary new quantitative approach to hybrid securities valuation and risk management

To an equity trader they are shares. For the trader at the fixed income desk, they are bonds (after all, they pay coupons, so what′s the problem?). They are hybrid securities. Neither equity nor debt, they possess characteristics of both, and carry unique risks that cannot be ignored, but are often woefully misunderstood. The first and only book of its kind, The Handbook of Hybrid Securities dispels the many myths and misconceptions about hybrid securities and arms you with a quantitative, practical approach to dealing with them from a valuation and risk management point of view.

  • Describes a unique, quantitative approach to hybrid valuation and risk management that uses new structural and multi–factor models
  • Provides strategies for the full range of hybrid asset classes, including convertible bonds, preferreds, trust preferreds, contingent convertibles, bonds labeled "additional Tier 1," and more
  • Offers an expert review of current regulatory climate regarding hybrids, globally, and explores likely political developments and their potential impact on the hybrid market
  • The most up–to–date, in–depth book on the subject, this is a valuable working resource for traders, analysts and risk managers, and a indispensable reference for regulators

Quatrième de couverture

Hybrid financial securities contain properties of both debt and equity.  Blending the properties of two easy–to–understand asset classes such as equity and bonds into a hybrid does not leave us an instrument with straightforward properties and therefore hybrids are often misunderstood and miss–sold. The high yields offered by these securities attract investors, this yield is a compensation for the particular complex anatomy of these instruments. This complexity results from the introduction of several coupon deferral mechanisms and issuer calls with or without set–up features. The newest member in this asset class is a CoCo bond, where the investor is possibly exposed to a particular loss absorption mechanism.

Through practical examples and case studies, The Handbook of Hybrid Securities: Convertible Bonds, CoCo Bonds and Bail–in guides the reader through the different structures and their particular risks. Starting with an introduction to convertible bonds, the book covers bail–in capital and contingent convertibles (CoCo Bonds). Basel III, the new regulatory framework that has been driving these new developments is discussed as well. The price dynamics and valuation of CoCo bonds are presented in a practical way, using a Black Scholes  approach,  a Constant Elasticity of Variance (CEV) framework, American Monte Carlo techniques, to name a few.

The Handbook of Hybrid Securities offers a quantitative and practical approach for readers at all levels of experience. The book is ideal for the absolute beginner wishing to familiarise themselves with this asset class and its regulatory context.  For more advanced users, working in areas such as trading, portfolio and risk management, the book provides a detailed introduction to the latest advances in numerical techniques in order to value and hedge these instruments.

Aucun appareil Kindle n'est requis. Téléchargez l'une des applis Kindle gratuites et commencez à lire les livres Kindle sur votre smartphone, tablette ou ordinateur.

  • Apple
  • Android
  • Windows Phone
  • Android

Pour obtenir l'appli gratuite, saisissez votre numéro de téléphone mobile.



Détails sur le produit


Commentaires client

Partagez votre opinion avec les autres clients
Voir les 1 commentaires client

Meilleurs commentaires des clients

24 mai 2015
Format: Format Kindle|Achat vérifié
0Commentaire|Ce commentaire vous a-t-il été utile ? Signaler un abus

Où en sont vos commandes ?

Livraison et retours

Besoin d'aide ?