Credit derivatives and risk management

Author: Michael H. Kracha, Translated by Qi Xiang
Publisher:
Publish Date: 2002-06-01
Features: Credit derivatives have brought about a dramatic transformation in global investment. However, this rapidly growing investment product provides tools for diversifying portfolio credit risk. If a company acts hastily without understanding the nature of credit derivatives and their impact on profits, these popular "hot" instruments can lead to devastating consequences. Dr. Dimitri N. Kracha, a world-renowned expert in derivatives, demystifies credit derivatives through personal experience and insights from 128 senior executives at 72 global institutions. This includes: the rapid evolution of the credit derivatives market; the various instruments facilitating transactions; information that credit derivatives issuers and users need to understand; current popular credit risk models; new derivatives, new hedging strategies, and credit rating agencies; and "hot" products such as catastrophe insurance and energy derivatives. From this book, you will gain the information you need to make the most of this new generation of investment tools, minimize application insurance, and ensure that the credit derivatives you invest in do not become junk bonds.