Es gibt nur wenige Management-Bücher, die gleichzeitig als Lehrbuch und Nachschlagewerk für Praktiker ein weltweit so hohes Renommee geniessen wie Optionen, Futures und andere Derivate. Die vorliegende zehnte Auflage beinhaltet u.a. neue Kapitel zu den Themen Swaps, Bewertungsanpassungen und...

We define long shots as investment projects with four features: (1) low probabilities of success; (2) long gestation lags before any cash flows are realized; (3) large required up-front investments; and (4) very large payoffs (relative to initial investment) in the unlikely event of success....

We consider a trader who is responsible for managing a portfolio of derivatives that evolves stochastically and depends on a single underlying asset. We use reinforcement learning to develop a strategy for bringing options into the portfolio to manage gamma and vega risk. The options are subject...