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Опционы, фьючерсы и другие производные финансовые инструменты - Джон Халл

Скачать бесплатно учебник по финансамГод выпуска: 2007

Автор: Джон Халл/John Hull

Жанр: Финансы/Экономика/Бизнес

Язык: книга на английском

Издательство: «Prentice Hall»

Формат: PDF

Качество: Отсканированные страницы

Количество страниц: It is sometimes hard for me to believe that the first edition of this book was only 330 pages and 13 chapters long! Over the last 15 years I have had to expand and adapt the book to keep up with the fast pace of change in derivatives markets. Like earlier editions, the book serves several markets. It is appropriate for graduate courses in business, economics, and financial engineering. It can be used on advanced undergraduate courses when students have good quantitative skills. Many practitioners involved in derivatives markets find the book useful. I am pleased that half the purchasers of the book have historically been analysts, traders, and other market practitioners.
One of the key decisions that must be made by an author who is writing in the area of derivatives concerns the use of mathematics. If the level of mathematical sophistication is too high, the material is Ukely to be inaccessible to many students and practitioners. If it is too low, some important issues will inevitably be treated in a rather superficial way. I have tried to be particularly careful about the way I use both mathematics and notation in the book. Nonessential mathematical material has been either eliminated or included in end-of-chapter appendices and in the technical notes on my website. Concepts that are likely to be new to many readers have been explained carefully, and many numerical examples have been included.
The book provides a comprehensive treatment of derivatives and risk management. It assumes that the reader has taken introductory courses in finance and in probability and statistics. No prior knowledge of options, futures contracts, swaps, or other derivative instruments is assumed. It is not therefore necessary for students to take an elective course in investments prior to taking a course based on this book.
There are many different ways Options, Futures, and Other Derivatives can be used in the classroom. Instructors teaching a first course in derivatives may wish to spend most time on the first half of the book; those teaching more advanced courses will find that many different combinations of chapters in the second half of the book can be used. I find the material in Chapter 32 works well at the end of either an introductory or an advanced course.

  1. List of Business Snapshots
  2. List of Technical Notes
  3. Preface
  4. Introduction
  5. Mechanics of futures markets
  6. Hedging, strategies using futures
  7. Interest rates
  8. Determination of forward and futures prices
  9. Interest rate futures
  10. Swaps
  11. Mechanics of options markets
  12. Properties of stock options
  13. Trading strategies involving options
  14. Binomial trees
  15. Wiener processes and Ito's lemma
  16. The Black-Scholes-Merton model
  17. Options on stock indices, currencies, and futures
  18. The Greek letters
  19. Volatility smiles
  20. Basic numerical procedures
  21. Value at risk
  22. Estimating volatilities and correlations
  23. Credit risk
  24. Credit derivatives
  25. Exotic options
  26. Weather, energy, and insurance derivatives
  27. More on models and numerical procedures
  28. Martingales and measures
  29. Interest rate derivatives: the standard market models
  30. Convexity, timing, and quanta adjustments
  31. Interest rate derivatives: models of the short rate
  32. Interest rate derivatives: HJM and LMM
  33. Swaps revisited
  34. Real options
  35. Derivatives mishaps and what we can learn from them
  36. Glossary of terms
  37. DerivaGem software
  38. Major exchanges trading futures and options
  39. Author index
  40. Subject index

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