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Dynamic Hedging: Managing Vanilla and Exotic Options (Wiley Finance)
Dynamic Hedging is the definitive source on derivatives risk. It provides a real-world methodology for managing portfolios containing any nonlinear security. It presents risks from the vantage point of the option market maker and arbitrage operator. The only book about derivatives risk written by an experienced trader with theoretical training, it remolds option theory to fit the practitioner's environment. As a larger share of market exposure cannot be properly captured by mathematical models, noted option arbitrageur Nassim Taleb uniquely covers both on-model and off-model derivatives risks. The author discusses, in plain English, vital issues, including: - The generalized option, which encompasses all instruments with convex payoff, including a trader's potential bonus.
- The techniques for trading exotic options, including binary, barrier, multiasset, and Asian options, as well as methods to take into account the wrinkles of actual, non-bellshaped distributions.
- Market dynamics viewed from the practitioner's vantage point, including liquidity holes, portfolio insurance, squeezes, fat tails, volatility surface, GARCH, curve evolution, static option replication, correlation instability, Pareto-Levy, regime shifts, autocorrelation of price changes, and the severe flaws in the value at risk method.
- New tools to detect risks, such as higher moment analysis, topography exposure, and nonparametric techniques.
- The path dependence of all options hedged dynamically
Dynamic Hedging is replete with helpful tools, market anecdotes, at-a-glance risk management rules distilling years of market lore, and important definitions. The book contains modules in which the fundamental mathematics of derivatives, such as the Brownian motion, Ito's lemma, the numeraire paradox, the Girsanov change of measure, and the Feynman-Kac solution are presented in intuitive practitioner's language. Dynamic Hedging is an indispensable and definitive reference for market makers, academics, finance students, risk managers, and regulators. The definitive book on options trading and risk management "If pricing is a science and hedging is an art, Taleb is a virtuoso." —Bruno Dupire, Head of Swaps and Options Research, Paribas Capital Markets "This is not merely the best book on how options trade, it is the only book." —Stan Jonas, Managing Director, FIMAT-Société Générale "Dynamic Hedging bridges the gap between what the best traders know and what the best scholars can prove." —William Margrabe, President, The William Margrabe Group, Inc. "The most comprehensive, insightful, intuitive work on the subject. It is instrumental for both beginning and experienced traders."— "A tour de force. That rare find, a book of great practical and theoretical value. Taleb successfully bridges the gap between the academic and the real world. Interesting, provocative, well written. Each chapter worth a fortune to any current or prospective derivatives trader."—Victor Niederhoffer, Chairman, Niederhoffer Investments.
Price: $57.99
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I'm Chocolate, You're Vanilla: Raising Healthy Black and Biracial Children in a Race-Conscious World
This superb, rational, and highly readable volume answers a deeply felt need. Parents and educators alike have long struggled to understand what meanings race might have for the very young, and for ways to insure that every child grows up with a healthy sense of self. Marguerite Wright handles sensitive issues with consummate clarity, practicality, and hope. Here we have an indispensable guide that will doubtless prove a classic.--Edward Zigler, sterling professor of psychology and director, Yale Bush Center in Child Development and Social Policy A child's concept of race is quite different from that of an adult. Young children perceive skin color as magical--even changeable--and unlike adults, are incapable of understanding adult predjudices surrounding race and racism. Just as children learn to walk and talk, they likewise come to understand race in a series of predictable stages. Based on Marguerite A. Wright's research and clinical experience, I'm Chocolate, You're Vanilla teaches us that the color-blindness of early childhood can, and must, be taken advantage of in order to guide the positive development of a child's self-esteem. Wright answers some fundamental questions about children and race including: - What do children know and understand about the color of their skin?
- When do children understand the concept of race?
- Are there warning signs that a child is being adversely affected by racial prejudice?
- How can adults avoid instilling in children their own negative perceptions and prejudices?
- What can parents do to prepare their children to overcome the racism they are likely to encounter?
- How can schools lessen the impact of racism?
With wisdom and compassion, I'm Chocolate, You're Vanilla spells out how to educate black and biracial children about race, while preserving their innate resilience and optimism--the birthright of all children. .
Price: $7.99
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Vanilla Beans & Brodo: Real Life in the Hills of Tuscany
Isabella Dusi, a native Australian, settled in Montalcino, a beautiful mountain eyrie famous for its wine and the proud nature of its inhabitants Her acceptance into this close-knit community was a hard-won thing and has inspired Isabella to capture the true spirit of Montalcino. Vanilla Beans & Brodo tells of the violent history of this medieval village, which has lefts its mark on the character traits of the Montalcinese, and also offers a rare insight into the anxiety, joy, fun, and pressure of daily life as it unfolds with the seasons. An evocative story of the rivalry between village neighborhoods, of football fever and festival pageantry, Isabella Dusi destroys the myth that Tuscan villages are tranquil places, and instead reveals a life infinitely rich and full of dramas. .
Price: $7.97
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Chocolate and Vanilla
Love Vanilla?Award-winning pastry chef and Food Network star Gale Gand considers vanilla the lingerie of baking: It’s an invisible essential, the thing you put on before anything else; but when given the spotlight, it’s every bit as sexy and alluring as chocolate–vanilla fans would say even more so. In this flip/cookbook, Gand offers tips on working with both vanilla beans and vanilla extract, revealing which is best for what, and includes a helpful substitution guide. And then it’s on to the good stuff: recipes for irresistible sweets that showcase vanilla’s beguiling flavor. With one section devoted to desserts using whole vanilla beans–think Vanilla Raspberry Rice Pudding with Lemon-Vanilla Caramel and Late-Night Vanilla Flan–and another focusing on extract–such as Vanilla-Blueberry Crumb Cake and Boston Cream Cupcakes–these are recipes that are anything but plain vanilla. Love Chocolate?Say the word chocolate and a chocoholic’s face lights up with visions of utterly satisfying, rich pleasures. In this fun flip/cookbook, award-winning pastry chef and Food Network star Gale Gand shares her favorite ways to indulge family and friends–and yourself. Gand offers tips on buying and working with chocolate, including demystifying those ever-confusing cacao percentages, before getting down to business with more than thirty luscious, tempting recipes. Organized by type of chocolate–dark, semi-sweet, milk, and white–they run the gamut from simple treats such as Chocolate-Praline Cake in a Jar and Creamy Dreamy Walnut Fudge to impress-the-guests desserts that include Mexican Hot Chocolate Fondue and Chocolate-Almond Upside-Down Cake. Accompanied by amusing anecdotes, helpful make-ahead notes, and clear, uncomplicated techniques, Gand’s creations are as much fun to make as they are to eat..
Price: $8.64
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Vanilla: Travels in Search of the Ice Cream Orchid
From Papantla in Mexico-"the city that perfumed the world"-to the Indian Ocean islands, Vanilla traces the story of the vanilla plant and its secretive trade. From the golden cups of Aztec emperors to the ice-cream dishes of U.S. presidents, Vanilla has mystified and tantalized man for centuries. The only orchid that produces an agriculturally valuable crop, vanilla can mask unpleasant tastes and smells, but also makes pleasant tastes stronger, smoother, and longer lasting. Because it has over four hundred separate flavor components, choosing premium vanilla beans is as complex as judging the aroma and taste of fine wine. Vanilla finds its way into over half of all dessert products sold worldwide, as well as the finest perfumes, well-known brands of rum and vodka, and even Coca-Cola and Pepsi. Americans consume more vanilla than anyone else on Earth-a fact that has forced growers and traders to mount armed guard over their plants in the tropical jungle. The traders who travel the world in search of America's favorite flavor are a small and secretive elite. Vanilla is a globetrotting adventure that follows buccaneers, aristocrats, and gourmets, all in search of the ice cream orchid..
Price: $5.75
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Finding Kylie
What if... after laying your mother to rest, the mother who has been the only real family you ve ever known, you discover her secretive past in a set of hidden journals? What would you do if she was the only link to the father you never knew? A father you'd been told was dead, but was indeed very much alive... Twenty-five year old Chastity searches through her mother's belongings in hopes of finding any shred of evidence that leads to her father. A man, she'd always felt was out there...somewhere. Any glimmer of hope is dashed when she reads one tiny line scrawled across the back page of her mother's notebook. One traumatic sentence is all it takes to unravel her life long desire in a matter of seconds. Chastity uncovers the sordid truth, a truth that her mom, Kylie, tried to hide at all costs. This newfound information plunges Chastity into a new world of control, power, and hurt. With the help of her mother s best friend, Cheryl, and Timothy, a handsome attorney hired before her mother's death, Chastity sorts her way through her new found family ties and the costs that come with it..
Price: $13.45
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Vanilla Bright like Eminem
M ichel Faber is not only a master storyteller but a daring innovator as well. Here are the pitch-perfect prose, indelible characterizations, and deep empathy for which he has been highly acclaimed. Here also is a satirical streak that depicts individuals at uncanny and all-too-familiar turning points in their lives. The alienated find sanctuary in ÒThe Safehouse,Ó their histories and diagnoses written like endless ads on their T-shirts. In ÒAndy Comes Back,Ó a man awakens after a five-year coma, only to flee his home. In ÒThe Eyes of the Soul,Ó perpetual televised beauty replaces the derelict view from a suburban picture window. In ÒFinesse,Ó a dictator holds his surgeon’s family hostage to the outcome of a risky operation. These sixteen stories move from unspeakable sadness through moments of exquisitely distilled happiness. (07/01/2007).
Price: $1.64
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Lucifer's Calling
Lucifer is his name... creating masterpieces and autographing the dead is his twisted protocol. Homicide Detective Brian Jeffers is sent to the scene of a triple murder, where Lucifer has left a cryptic message for all to see. What Detective Jeffers uncovers tells him Lucifer is not only killing, he's using a drug to render his victims defenseless. Jeffers enlists the help of Medical Examiner, Dr. Alan Sanderson, and his good friend and fellow investigator, Toby Wall. They provide insight into Lucifer's methodology and give Jeffers the knowledge he needs to end the madman's reign of terror. Detective Jeffers familiarity of the criminal mind is certain to be tested, as Lucifer decides to pinpoint someone close to Jeffers to add to his collection. Will the intelligent and devious killer be caught, or slip back into the darkness undetected?.
Price: $14.61
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Aromatherapy: This little manual helps you to learn about essential oils, lotions and balms. It also educates you to know differ
“Aromatherapy is the art and science of utilizing naturally extracted aromatic essences from plants to balance harmonies and promote the health of body, mind and spirit. It is an art and science which seeks to explore the physiological and psychological and spiritual realm of the individual’s response to aromatic extracts to reduce stress and enhance the individuals healing process. As a holistic medicine, Aromatherapy is both a preventative and an active treatment during illness or disease”..
Price: $2.31
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