Understanding Risk by David Murphy
Risk management combines considerable quantitative skills with practical and intuitive competencies. Presenting both mathematical aspects and practical skills, this book introduces the foundations of risk management and shows how these concepts are used to create practical risk management systems.“David Murphy has used his extensive knowledge to provide a comprehensive guide to market, credit, and operational riskWritten at a fairly nontechnical level, the text is accessible to those with only a basic knowledge of financial mathematics, option theory, and financial markets. Murphy focuses on practical problems, presenting numerous examples and exercises. Stressing intuition rather than detailed mathematical analysis, he brings readers a clear insight to the current challenges facing professionals today.
This up-to-date treatment of risk is a welcome change from many other texts currently available. The contents are extremely comprehensive and, most importantly, relevant to the profession. It is not easy to select highlights, but the chapter on credit risk and credit risk capital models stands out. It covers all the latest concepts including securitization, tranching, CDOs, structuring, index products, and more. And notably this is one of the few texts that deals with liquidity risk properly, even though it is one of the most challenging areas of risk management today.
Few professionals with experience equal to Murphy’s have the time or the ability to provide accounts as detailed and accessible as this. I urge risk managers, traders, regulators, financial consultants, researchers, teachers, and students of risk management to read this book.”
—Professor Carol Alexander, Chair of Risk Management and Director of Research, University of Reading, UK
| SKU | Unavailable |
| ISBN 13 | 9781584888932 |
| ISBN 10 | 1584888938 |
| Title | Understanding Risk |
| Author | David Murphy |
| Series | Chapman And Hall Crc Financial Mathematics Series |
| Condition | Unavailable |
| Binding Type | Paperback |
| Publisher | Taylor & Francis Inc |
| Year published | 2008-04-23 |
| Number of pages | 470 |
| Cover note | Book picture is for illustrative purposes only, actual binding, cover or edition may vary. |
| Note | Unavailable |