TAIL RISK HEDGING: Creating Robust Portfolios for Volatile Markets by Vineer Bhansali
TAIL RISK HEDGING: Creating Robust Portfolios for Volatile Markets by Vineer Bhansali PDF, ePub eBook D0wnl0ad
"TAIL RISKS" originate from the failure of mean reversion and the idealized bell curve of asset returns, which assumes that highly probable outcomes occur near the center of the curve and that unlikely occurrences, good and bad, happen rarely, if at all, at either "tail" of the curve. Ever since the global financial crisis, protecting investments against these severe tail events has become a priority for investors and money managers, but it is something Vineer Bhansali and his team at PIMCO have been doing for over a decade. In one of the first comprehensive and rigorous books ever written on tail risk hedging, he lays out a systematic approach to protecting portfolios from, and potentially benefiting from, rare yet severe market outcomes.
Tail Risk Hedging is built on the author's practical experience applying macroeconomic forecasting and quantitative modeling techniques across asset markets. Using empirical data and charts, he explains the consequences of diversification failure in tail events and how to manage portfolios when this happens. He provides an easy-to-use, yet rigorous framework for protecting investment portfolios against tail risk and using tail hedging to play offense. Tail Risk Hedging explores how to:
- Generate profits from volatility and illiquidity during tail-risk events in equity and credit markets
- Buy attractively priced tail hedges that add value to a portfolio and quantify basis risk
- Interpret the psychology of investors in option pricing and portfolio construction
- Customize explicit hedges for retirement investments
- Hedge risk factors such as duration risk and inflation risk
Managing tail risk is today's most significant development in risk management, and this thorough guide helps you access every aspect of it. With the time-tested and mathematically rigorous strategies described here, including pieces of computer code, you get access to insights to help mitigate portfolio losses in significant downturns, create explosive liquidity while unhedged participants are forced to sell, and create more aggressive yet tail-risk-focused portfolios. The book also gives you a unique, higher level view of how tail risk is related to investing in alternatives, and of derivatives such as zerocost collars and variance swaps. Volatility and tail risks are here to stay, and so should your clients' wealth when you use Tail Risk Hedging for managing portfolios.
PRAISE FOR TAIL RISK HEDGING:
"Managing, mitigating, and even exploiting the risk of bad times are the most important concerns in investments. Bhansali puts tail risk hedging and tail risk management under a microscope--pricing, implementation, and showing how we can fine-tune our risk exposures, which are all crucial ways in how we can better weather our bad times." -- ANDREW ANG, Ann F. Kaplan Professor of Business at Columbia University
"This book is critical and accessible reading for fiduciaries, financial consultants and investors interested in both theoretical foundations and practical considerations for how to frame hedging downside risk in portfolios. It is a tremendous resource for anyone involved in asset allocation today." -- CHRISTOPHER C. GECZY, Ph.D., Academic Director, Wharton Wealth Management Initiative and Adj. Associate Professor of Finance, The Wharton School"Bhansali's book demonstrates how tail risk hedging can work, be concretely implemented, and lead to higher returns so that it is possible to have your cake and eat it too! A must read for the savvy investor." -- DIDIER SORNETTE, Professor on the Chair of Entrepreneurial Risks, ETH Zurich
From reader reviews:
Tammi Kendrick:
Do you have favorite book? When you have, what is your favorite's book? Publication is very important thing for us to know everything in the world. Each guide has different aim or even goal; it means that guide has different type. Some people feel enjoy to spend their time for you to read a book. They are really reading whatever they get because their hobby is actually reading a book. What about the person who don't like looking at a book? Sometime, man feel need book if they found difficult problem or perhaps exercise. Well, probably you will need this TAIL RISK HEDGING: Creating Robust Portfolios for Volatile Markets.
Maria Carlin:
Spent a free time for you to be fun activity to perform! A lot of people spent their free time with their family, or their own friends. Usually they performing activity like watching television, about to beach, or picnic inside the park. They actually doing same every week. Do you feel it? Will you something different to fill your free time/ holiday? Could be reading a book is usually option to fill your free of charge time/ holiday. The first thing that you will ask may be what kinds of guide that you should read. If you want to test look for book, may be the book untitled TAIL RISK HEDGING: Creating Robust Portfolios for Volatile Markets can be excellent book to read. May be it may be best activity to you.
Aida Zambrana:
The actual book TAIL RISK HEDGING: Creating Robust Portfolios for Volatile Markets has a lot of information on it. So when you read this book you can get a lot of help. The book was compiled by the very famous author. Tom makes some research before write this book. This book very easy to read you will get the point easily after scanning this book.
Read TAIL RISK HEDGING: Creating Robust Portfolios for Volatile Markets by Vineer Bhansali for online ebook
TAIL RISK HEDGING: Creating Robust Portfolios for Volatile Markets by Vineer Bhansali Free PDF d0wnl0ad, audio books, books to read, good books to read, cheap books, good books, online books, books online, book reviews epub, read books online, books to read online, online library, greatbooks to read, PDF best books to read, top books to read TAIL RISK HEDGING: Creating Robust Portfolios for Volatile Markets by Vineer Bhansali books to read online.
Comments
Post a Comment