 Trade In this Item for up to £19.65
Trade in Commodities and Commodity Derivatives: Modeling and Pricing for Agriculturals, Metals, and Energy (The Wiley Finance Series) for an Amazon.co.uk gift card of up to £19.65, which you can then spend on millions of items across the site. Trade-in values may vary (terms apply). Find more products eligible for trade-in.
|
Frequently Bought Together
Product details
|
More About the Author
Product Description
Review
"...expect to see this book become the bible of the field..." (Short Book Review, June 2006)
Product Description
The last few years have been a watershed for the commodities, cash and derivatives industry. New regulations and products have led to an explosion in the commodities markets, creating a new asset for investors that includes hedge funds as well as University endowments, and has resulted in a spectacular growth in spot and derivative trading.
This book covers hard and soft commodities (energy, agriculture and metals) and analyses:
- Economic and geopolitical issues in commodities markets
- Commodity price and volume risk
- Stochastic modelling of commodity spot prices and forward curves
- Real options valuation and hedging of physical assets in the energy industry
It is required reading for energy companies and utilities practitioners, commodity cash and derivatives traders in investment banks, the Agrifood business, Commodity Trading Advisors (CTAs) and Hedge Funds.
In Commodities and Commodity Derivatives, Hélyette Geman shows her powerful command of the subject by combining a rigorous development of its mathematical modelling with a compact institutional presentation of the arcane characteristics of commodities that makes the complex analysis of commodities derivative securities accessible to both the academic and practitioner who wants a deep foundation and a breadth of different market applications. It is destined to be a "must have" on the subject.”
—Robert Merton, Professor, Harvard Business School
"A marvelously comprehensive book of interest to academics and practitioners alike, by one of the world′s foremost experts in the field."
—Oldrich Vasicek, founder, KMV
Inside This Book
(Learn More)
First Sentence
Commodity price risk is an important element of the world physionomy at this date, as it has an impact on the economy of both developed and developing countries: in a rough approximation, one can state that the latter include most commodity producing countries, the former being originators, marketers and manufacturers. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index
Commodity price risk is an important element of the world physionomy at this date, as it has an impact on the economy of both developed and developing countries: in a rough approximation, one can state that the latter include most commodity producing countries, the former being originators, marketers and manufacturers. Read the first page
Explore More
Concordance
Browse Sample PagesConcordance
Front Cover | Copyright | Table of Contents | Excerpt | Index
Tags Customers Associate with This Product(What's this?)Click on a tag to find related items, discussions, and people.
|
Sell a Digital Version of This Book in the Kindle Store
If you are a publisher or author and hold the digital rights to a book, you can sell a digital version of it in our Kindle Store.
Learn more
What Other Items Do Customers Buy After Viewing This Item?
Customer Reviews
|
Share your thoughts with other customers:
|
||||||||||||||||||||||
|
Most Helpful Customer Reviews
6 of 6 people found the following review helpful:
4.0 out of 5 stars
The best reference on commodity markets,
By
This review is from: Commodities and Commodity Derivatives: Modeling and Pricing for Agriculturals, Metals, and Energy (The Wiley Finance Series) (Hardcover)
As a structurer on commodity markets I must agree that this is not a book for quantitative analysts. Dr. Douglas R. Mclean is certainly disappointed, but this was not a book for him. I must say that the mistakes are really there and this is quite disappointing: for that reason I only give it 4 stars.
Having said that, this book is a reference for anyone working on commodities. I have not found any book that is as complete and insightful as this one. The first 2 chapters give some notions on market fundamentals such as spot forward and futures markets and their relationships, these are quite important to understand on commodities markets. The chapters 3 to 6 are about stochastic price modeling, option pricing and risk neutral concepts. These are not my favourite chapters as they are quite technical, and requires some advanced mathematical knowledge, which I have: but it was not the funniest part! The following chapters - the core value of the book - presents various commodities and their market with unequaled insight. This chapters are essentials for people working on commodities and are useful to novice to learn and experienced financiers to remember. You'll get familiar with the commodities, their characteristics and how they impact their market and price movements. It is difficult for me to make a review good enough to describe how useful this book is, but as a junior structurer on commodities it really helped me get insight and start with my new job.
8 of 9 people found the following review helpful:
1.0 out of 5 stars
Riddled with mistakes,
By
This review is from: Commodities and Commodity Derivatives: Modeling and Pricing for Agriculturals, Metals, and Energy (The Wiley Finance Series) (Hardcover)
As a quantitative analyst in the energy industry I was very disappointed in Pr Geman's recent text. To put it politely would be to say that it has been written somewhat in a hurry. To be blunt would be to say it is riddled with mistakes, its notation being uncoventional and confusing. The book contains the entire spectrum of errors from those which are blatantly mathematical or financial to those which are grammatical or typographical. One of the numerous mathematical mistakes states that the mean of the log-normal variable on line 2 of page 100 is -F^{T_1}(sigma^2/2)(t-t') where it is in fact F^{T_1}(t') exp{-sigma^2 [t-t'-1] / 2}. It is clear to me that no one has proof read the text as its many typographical errors show. In short, the subject matter the text purports to report upon is new, interesting and exciting and this book should have been very good given the reputation of its author. The interested buyer would do well to wait for the next edition or consider better written books such as "Energy and Power Risk Management" by Eydeland and Wolyniec Energy and Power Risk Management: New Developments in Modeling, Pricing and Hedging (Wiley Finance) or the more technical "Stochastic Modelling of Electricity and Related Markets" by Benth, Saltyte-Benth and Koekebakker STOCHASTIC MODELING OF ELECTRICITY AND RELATED MARKETS: 0 (Advanced Series on Statistical Science & Applied Probability).
2 of 2 people found the following review helpful:
5.0 out of 5 stars
A good roundup of all the important concepts,
By
This review is from: Commodities and Commodity Derivatives: Modeling and Pricing for Agriculturals, Metals, and Energy (The Wiley Finance Series) (Hardcover)
This book starts with the necessary financial background to understand commodities and commodity markets. It then goes into detail of what features all or most commodities share, then looks at the specifics of the different commodity assets, as well as covering issues like index investing. I've read it cover to cover, and go back to it whenever I want a refresher on a particular topic. It usually has what I'm looking for.
Other commodity books go into more depth, but often they get bogged down in tedious detail. This book doesn't.
Share your thoughts with other customers: Create your own review
Would you like to see more reviews about this item?
|
Most Recent Customer Reviews |
Listmania!
Look for similar items by category
Look for similar items by subject
Feedback
- Would you like to update product info or give feedback on images?
- I am the Author, and I want to comment on my book.
- I am the Publisher, and I want to comment on this book.
|
