The only complete resource addressing derivative risk with the fully updated and expanded dynamic hedging, revised edition, readers will learn the proven methodologies for monitoring and managing all the risks associated with managing portfolios containing any nonlinear security. In the black swan taleb outlined a problem, and in antifragile he offers a. Nassim nicholas talebarchive 2 jump to navigation jump to search. Talebs barbell for the economy would be to nationalise banks but let hedge funds go unregulated. Presenting risk from the vantage point of the option market maker and arbitrage operator, this book remolds options. Managing vanilla and exotic options wiley finance book online at best prices in india on. Nassim taleb is one of the finest original thinkers of modern era. The black swan man website comics based on nassim nicholas talebs books. Its strange that someone would accuse the author of dynamic hedging of not understanding financial markets. Taleb is one arrogant dude who loves flooding his books with archaic words which were last employed in the english language by geoffrey chauncer. Managing vanilla and exotic options by nassim nicholas taleb dynamic hedging is the definitive source on derivatives risk. Fooled by randomness is a standalone book in nassim nicholas talebs landmark incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decisionmaking in a world we dont understand. From central banks to brokerages to multinationals, institutional investors are flocking to a new generation of exotic and complex options contracts and derivatives. Dynamic hedging 1997, his first book, is fabulously inaccessible.
Online shopping from a great selection at books store. His actual strategy is highly mathematical and has evolved over the years. Dynamic hedging by nassim nicholas taleb, 9780471152804, available at book depository with free delivery worldwide. Najib taleb, an oncologist and researcher in anthropology, and his wife minerva ghosn. Dynamic hedging is the definitive source on derivatives risk. Bruno dupire, head of swaps and options research, paribas capital markets. Nassim nicholas taleb spent more than 20 years as a derivatives trader specializing in. Nassim nicholas taleb wikipedia republished wiki 2. The debacle in the financial markets in 1998 and the apologetic excuses by famous traders and theoreticians indicates that there is more than a grain of truth in talebs skepticism. Destined to become a market classic, dynamic hedging is the only practical.
The other books in the series are the black swan, antifragile, skin in the game, and the bed of procrustes. Be that as it may, none of talebs other books are like this. From the bestselling author of the black swan and one of the foremost thinkers of our time, nassim nicholas taleb, a book on how some things actually benefit from disorder. A wellacclaimed writer, talebs books have been published in. The only book about derivatives risk written by an experienced trader with. Dynamic hedging, managing vanilla and exotic options by nassim. But the basic position he likes to hold is to sell atthemoney options and buy outofthemoney options. Nassim nicholas taleb find out how to protect your nest egg, why steve jobs was an artisan but elon musk isnt, and so much more. Destined to become a market classic, dynamic hedging is the only practical reference in exotic options hedgingand arbitrage for professional traders and money managers watch the professionals. The definitive book on options trading and risk management if pricing is a science and hedging is an art, taleb is a virtuoso. I dont know the details why he closed down and neither do i care. The definitive book on decisions trading and hazard administration if pricing is a science and hedging is an paintings, taleb is a virtuoso. I also hope to apply to nyus among others mfe program next year, so wish me luck. How exactly does nassim talebs trading strategy work.
Nassim nicholas taleb is currently considered a single author. I am sure i am going to dislike nassim nicholas taleb. Hard cover b00k taleb, nassim nicholas john wiley and sons 1997 1st edition, 15th printing new jersey and other locations hc. The book is a difficult read the first time around while you get used to talebs style. I just want to say thank you for all your writings, not just your books but also the white papers that youve put out. He deserves all attention he gets as he made a bunch of money doing things that other people havent done or havent even dared to do before this elitist, snooty rogue was born in 1960 in amioun, lebanon, a son of dr. This is an excerpt from nassim talebs book dynamic hedging a book on option trading strategies page vii most examples in this book are presented as generic situations. Managing vanilla and exotic options wiley finance book 64 ebook. Nassim taleb a genius trader all about forex world. Unlike other books that offer risk management for corporate treasurers, dynamic hedging targets the realworld needs of professional traders and money managers. Dynamic hedging is an indispensable and definitive reference for market makers, academics, finance students, risk managers, and regulators.
If one or more works are by a distinct, homonymous authors, go ahead and split the author. He spent almost two decades as a businessman and quantitative trader before becoming a fulltime philosophical essayist. Managing vanilla and exotic options wiley finance book 64 by nassim nicholas taleb sold by. Taleb was one of the pioneers of complex derivatives and wrote his first book on the topic dynamic hedging. This first major work by taleb was dynamic hedging. Buy a discounted hardcover of dynamic hedging online from australias leading. Destined to become a market classic, dynamic hedging is the only p. The book is very personal and leaves no doubt what the authors opinion is on var, continuous hedging and other sacred cows of modern finance.
Here is a cartoon showing dynamic hedging as instrumental in the starting of a colorful and intense interoffice romance. For example, he makes some good points on managing option greeks. Managing vanilla and exotic options by taleb, nassim. Nassim nicholas taleb has dedicated his life to problems of knowledge, uncertainty, and probability. Now more than ever, the key to trading derivatives lies in implementing preventive risk management techniques that plan for and avoid these appalling downturns. In his books on the importance of the improbable fooled by randomness and the black swan. Nassim nicholas taleb wikipedia wikipedia article on nassim nicholas taleb. Static and dynamic hedging by nassim nicholas taleb, 97804753478, available at book depository with free delivery worldwide. I am nassim nicholas taleb ask me anything on options and other nonlinear derivatives. Some of his books such as dynamic hedging are top notch and a must read for any serious options trader.
Aside sinclair nowhere else is so much valuable information in public domain on. Dynamic hedging corresponds to any discrete time self financing strategy pair countable sequence qti, btii0 n,r x r where q ti is the quantity of units or shares of the primitive asset s held at time ti, t0. The definitive book on options trading and risk management if pricing is a. It provides a realworld methodology for managing portfolios containing any nonlinear security.
Nassim nicholas taleb is the founder of empirica capital llc, a hedge fund. Nassim nicholas taleb is the founder of empirica capital llc. The book that came out of this solitary investigation in the attic, finally called dynamic hedging, was about the techniques to manage and handle complicated nonlinear derivative exposures. If the prescriptions for getting rich that are outlined in books such as the millionaire next door and rich dad poor dad are successful enough to make the books. Help with understanding point from nassim talebs book. Kindle books kindle unlimited prime reading bestsellers kindle daily deal kindle monthly deals free kindle reading apps buy a kindle content and devices. Nassim taleb uniquely covers both onmodel and offmodel derivatives risks. Nassim nicholas taleb nyu tandon school of engineering. Nassim taleb is a wall street trader who has written one technical book dynamic hedging, 1997 and two books for general audiences fooled by randomness in 2001 and the black swan in 2007 on the impact of uncertaintyparticularly about rare eventsin various aspects of. Written by a leading options trader and derivatives risk advisor to global banks and exchanges, this book provides a practical, realworld methodology for monitoring and managing all the risks associated with portfolio management.
His 2007 book the black swan has been described by the sunday times as one of the twelve most influential books since world war ii. Taleb is the author of the incerto, a five volume philosophical essay on. Nassim taleb is a wall street trader who has written one technical book dynamic hedging, 1997 and two books for general audiences fooled by randomness in 2001 and the black swan in 2007a on the impact of uncertaintyparticularly about rare eventsin. Thoughts inspired by nassim talebs fooled by randomness. A business memoir that owes more to nassim taleb than to jack welch, david shaywitz describes similarities he sees between nassims thinking and the thinking of pixar president ed catmull, as revealed in his memoir creativity inc. Dynamic hedging is an indispensable and definitive reference for market makers, academics, finance school college students, hazard managers, and regulators. Talebs four volume philosophical essay on uncertainty, titled incerto, has been translated into 38 languages. Black cloth spine and title in polished gold letters, hard cover book. When fannie maes secret risk reports landed on talebs desk, it showed that the corporations risk exposure consisted of some moves that brought small profits but opposite moves that brought massive losses.
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