The financial industry’s invention of complex products such as credit default swaps and other derivatives has been … employee of one of the world’s leading investment banks, takes readers behind the scenes of the equity derivatives business at …

The financial industry’s invention of complex products such as credit default swaps and other derivatives has been … employee of one of the world’s leading investment banks, takes readers behind the scenes of the equity derivatives business at …

This paper highlights the role of risk neutral investors in generating endogenous bubbles in derivatives markets. We … propose the following theorem. A market for derivatives, which has all the features of a perfect market except completeness … fundamental values of derivatives, and that extreme price movements like price peaks or crashes may have endogenous origin and …