Risk management may have been the single most important topic in finance over the past two decades. To appreciate its complexity, one must understand the art as well as the science behind it. And in order to do so, investment professionals must have a solid framework for understanding the theory, philosophy, and development of the practice of risk management.Risk Management: Foundations for a Changing Financial World outlines the evolution of risk management with key contributions from the top minds in the field, such as Richard Bookstaber, Aswath Damodaran, Philippe Jorion, Clifford Asness, and Andrew Lo, among others. They show how the discipline has adapted to address the future of managing risk. Covering the full range of risk management issues, the book first provides an overview of the past two decades of risk management. It goes on to discuss the various aspects of measuring risk-from how risk management can benefit portfolio managers to understanding and monitoring the liquidity cycle, and more. The last section of the book examines the practical aspects of managing risk, including risk management for hedge funds, the uses and risks of derivatives, the management of geopolitical risks, and other critical topics.For
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September 26, 2010
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