For the first time a book, presents a large assemblage of statistical techniques and analytic measures that have been devised and deployed to control and hedge risk in the cold light of the post-2008 realities.
Hoboken, NJ (PRWEB) September 05, 2014
First Title to Focus on Post-2008 Financial Engineering and Risk Management Methods:
Students preparing for careers in quantitative finance have a new resource to help them understand real-world applications of financial engineering and risk. A new book, Practical Methods of Financial Engineering and Risk Management, written by Rupak Chatterjee, PhD, is now available.
Practical Methods of Financial Engineering and Risk Management integrates a real-world view with the applications that are most relevant to the ever-changing marketplace. The author is an Industry Professor and the Deputy Director of the Financial Engineering Division at Stevens Institute of Technology and former director of the multi-asset quantitative research group at Citigroup in New York.
“For the first time between the covers of a single book, Practical Methods of Financial Engineering and Risk Management presents in a fiercely pragmatic way a large assemblage of statistical techniques and analytic measures that have been devised and deployed to control and hedge risk in the cold light of the post-2008 realities,” said Dr. Chatterjee.
This book is the first in an innovative series focused on the fast-growing field of quantitative finance being published through a partnership between Stevens Institute of Technology, a private research university located in Hoboken, New Jersey, and Springer/Apress, global publishers of high-quality STM content for technology professionals and researchers in academia.
“Events from the collapse of Lehman Brothers to the Greek sovereign debt crisis demonstrate the urgent need for adequate knowledge and tools to measure and anticipate the amplitude of potential swings in the financial markets,” said Dr. Chatterjee. “Yet many on Wall Street continue to rely on standard models based on artificially simplified assumptions that can lead to systematic (and sometimes catastrophic) underestimation of real risks.”
Dr. Chatterjee, drawing on more than 15 years of experience as a financial analyst for many of Wall Street’s top firms, covers the core set of concepts and skills that practitioners today must master, including fundamental analysis of financial instruments using Bloomberg terminals, statistical analysis of financial data, simulation of stochastic processes, statistical modeling of trading strategies, optimal hedging Monte Carlo (OHMC) methods, credit derivatives valuation, counterparty credit risk (CCR) and credit valuation adjustment (CVA), Basel II and III risk measure, power laws and extreme value theory (EVT), and hedge fund replication.
For students, this volume serves as a comprehensive introduction to the current state of the industry. For finance professionals, it provides a salutary update on the latest concepts, tools, valuation techniques, and analytic measures being deployed by Wall Street’s most astute quants.
Forthcoming titles in the Stevens̶Springer/Apress series will range from topics such as derivatives pricing, hedge fund modeling, market microstructure, portfolio theory, and securities law to the financial applications of optimization models, high-performance computing, knowledge engineering, systems technology, big data migration, munging, computational methods, programming tools, data visualization, algorithmic strategies, and object-oriented design patterns.
Practical Methods of Financial Engineering and Risk Management is available in both hard copy and electronic versions, distributed through all major retail channels, including Amazon, iTunes, and Barnes & Noble, as well as via SpringerLink (Springer’s industry-leading electronic distribution channel to academic and industry customers worldwide), Books24x7, and Safari.
About the Author
Dr. Rupak Chatterjee has over fifteen years of experience as a quantitative analyst working for various top-tier Wall Street firms. His last role before returning to academia was as Director of the Multi-Asset Hybrid Derivatives Quantitative Research group at Citigroup in New York. He was also the Global Basel III coordinator for all modeling efforts needed to satisfy the new regulatory risk requirements. Previously, he was a quantitative analyst at Barclays Capital, a vice president at Credit Suisse, and a senior vice president at HSBC. His educational background is in theoretical physics where he studied at Stony Brook University and the University of Chicago. His research interests have included discrete time hedging problems using the Optimal Hedging Monte Carlo (OHMC) method and the design and execution of systematic trading strategies that embody the hallmarks of capital preservation and measured risk taking.
Stevens Institute of Technology, The Innovation University®, is a premier, private research university situated in Hoboken, N.J. overlooking the Manhattan skyline. Founded in 1870, technological innovation has been the hallmark and legacy of Stevens’ education and research programs for more than 140 years. Within the university’s three schools and one college, more than 6,300 undergraduate and graduate students collaborate with more than 350 faculty members in an interdisciplinary, student-centric, entrepreneurial environment to advance the frontiers of science and leverage technology to confront global challenges. Stevens is home to four national research centers of excellence, as well as joint research programs focused on critical industries such as healthcare, energy, finance, defense, maritime security, STEM education and coastal sustainability. The university is consistently ranked among the nation’s elite for return on investment for students, career services programs and mid-career salaries of alumni. Stevens is in the midst of a 10-year strategic plan, The Future. Ours to Create., designed to further extend the Stevens legacy to create a forward-looking and far-reaching institution with global impact.
About Apress Media
With more than 1,500 books in print and e-formats, Apress is the authoritative source for IT professionals, software developers, and business leaders all over the world. Apress provides high-quality, no-fluff content that helps serious technology professionals build a comprehensive pathway to career success. Since 2007, Apress has been part of Springer Science+Business Media, one of the world's leading scientific, technical, and medical publishing houses, enabling global distribution of Apress publications. For more information, please visit http://www.apress.com.
Springer Science+Business Media (http://www.springer.com) is a leading global scientific, technical and medical publisher, providing researchers in academia, scientific institutions and corporate R & D departments with quality content via innovative information products and services. Springer is also a trusted local-language publisher in Europe – especially in Germany and the Netherlands – primarily for physicians and professionals working in healthcare and road safety education. Springer published roughly 2,200 English-language journals and more than 8,400 new books in 2013, and the group is home to the world’s largest STM eBook collection, as well as the most comprehensive portfolio of open access journals. In 2013, Springer Science+Business Media generated sales of approximately EUR 943 million. The group employs more than 7,000 individuals across the globe.