Satyajit Das

Liar's Pokerwith more lies and more insight, Traders, Guns & Moneyis a sensational insider's view of the business of trading and marketing derivatives for a living. It reveals the nature of the business, the players and how the real money is made and lost. An accessible companion, a wise counsel and a great read. A sensational and controversial first-person account of the business of derivatives trading and the financial products industry. Offers a true insider's view. Funny and poignant, written in a wry and wickedly comic style. Reveals how shareholders, clients, regulators, and the tax paying ordinary public bear most of the risk in the trading rooms. Reveals the story of how one set of clients discovered the perils of unknowns in a derivatives deal. Traders, Guns & Money cleverly weaves together: the dazzling world of derivatives and how to work out what you know, don't know and need to know; an insider's, expert witness account of the rise and rules of the world of derivatives and the astonishing story of how one set of clients discovered the perils of unknowns in a derivatives deal. Benchmark: Liar's Poker 0340767006.Das now offers more lies and is set in today's derivatives market, and Traders Gun's and Moneyis written not by a journalist but by a world-famous insider.

Knowns and Unknowns in the Dazzling World of Derivatives

Traders, Guns & Money

Everything from home mortgages to climate change has become financialized, as vast fortunes are generated by individuals who build nothing of lasting value. Das shows how "extreme money" has become ever more unreal; how "voodoo banking" continues to generate massive phony profits even now; and how a new generation of "Masters of the Universe" has come to domiinate the world.

Masters of the Universe and the Cult of Risk

Extreme Money

"Originally published as A banquet of consequences by Penguin Random House Australia in August 2015"--Title page verso.

Why Perpetual Growth is Unattainable and the Global Economy is in Peril

The Age of Stagnation

"Risk Management and Financial Derivatives: A Guide to the Mathematics meets the demand for a simple, nontechnical explanation of the methodology of risk management and financial derivatives." "Risk Management and Financial Derivatives provides clear, concise explanations of the mathematics behind today's complex financial risk management topics. An ideal introduction for those new to the subject, it will also serve as an indispensable reference for those already experienced in the field."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved

A Guide to the Mathematics

Risk Management and Financial Derivatives

Risk Management consists of 8 Parts and 18 Chapters covering risk management, market risk methodologies (including VAR and stress testing), credit risk in derivative transactions, other derivatives trading risks (liquidity risk, model risk and operational risk), organizational aspects of risk management and operational aspects of derivative trading. The volume also covers documentation/legal aspects of derivative transactions (including ISDA documentary framework), accounting treatment (including FASB 133 and IAS 39 issues), taxation aspects and regulatory aspects of derivative trading affecting banks and securities dealers (including the Basel framework for capital to be held against credit and market risk). RISK MANAGEMENT PRINCIPLES. 17. Framework For Risk Management. MARKET RISK. 18. Market Risk Measurement. 19. Stress Testing. 20. Portfolio Valuation/Mark-To-Market. CREDIT RISK. 21. Derivative Credit Risk: Measurement. 22. Derivative Credit Exposure: Management & Credit Enhancement. 23. Derivative Product Companies. OTHER RISKS. 24. Liquidity Risk. 25. Model Risk. 26. Operational Risk. ORGANISATION OF RISK MANAGEMENT. 27. Risk Management Function. 28. Risk Adjusted Performance Management. OPERATIONAL ASPECTS. 29. Operational, Systems & Technology Issues. 30. Legal Issues and Documentation. 31. Accounting Issues. 32. Taxation Aspects of Swaps and Financial Derivatives. REGULATORY ASPECTS OF DERIVATIVES. 33. Credit Risk: Regulatory Framework. Appendix: Basle II. 34. Market Risk: Regulatory Framework. Appendix: Basle 1996.

The Swaps & Financial Derivatives Library

Risk Management

Informed, impassioned, insightful and witty, Satyajit Das returns with a substantially updated edition of his 2015 classic. A Banquet of Consequences: RELOADED is the only book you need to understand how we got into our current economic, environmental and social mess – and how we might find our way out. For ordinary individuals, the goal of a steady job, a home of one's own, a comfortable retirement and better opportunities for their children is receding. In this brilliant, clear-eyed account, updated to include over 150 pages of new insights and analysis, Satyajit Das links past, present and future to show that it's not just our unrealistic expectations but poor choices that are to blame. The strategies after the Great Recession have failed, not least because such growth cannot continue indefinitely. The COVID-19 pandemic was merely the pin that pricked an ever-expanding bubble of fake prosperity and false hopes. It is the first trial of many to come. The solution – fundamental change – involves cost and is therefore ignored. Das explains why the ultimate adjustment, whether stretched out over time or in the form of another sudden collapse, will be life-changing. Essential reading for anyone concerned about the dire fate of the global economy, the fallout of the COVID-19 pandemic, the deepening environmental crisis and the alarming deterioration of our social fabric, A Banquet of Consequences: RELOADED is a ground-breaking book of our times, and a cautionary window into our future. An internationally respected commentator on financial markets, credited with predicting the Global Financial Crisis and featured in the 2010 Oscar-winning documentary Inside Job, Satyajit Das is our finest writer about the forces underlying society and the global economy.

How we got into the mess we’re in, and why we need to act now

A Banquet of Consequences RELOADED

John Authers

Mark Zandi

How the financial crisis really happened, and what it really meant: 3 books packed with lessons for investors and policymakers! These three books offer unsurpassed insight into the causes and implications of the global financial crisis: information every investor and policy-maker needs to prepare for an extraordinarily uncertain future. In Financial Shock, Updated Edition, renowned economist Mark Zandi provides the most concise, lucid account of the economic, political, and regulatory causes of the collapse, plus new insights into the continuing impact of the Obama administration's policies. Zandi doesn't just illuminate the roles of mortgage lenders, investment bankers, speculators, regulators, and the Fed: he offers sensible recommendations for preventing the next collapse. In Extreme Money, best-selling author and global finance expert Satyajit Das reveals the spectacular, dangerous money games that are generating increasingly massive bubbles of fake growth, prosperity, and wealth, while endangering the jobs, possessions, and futures of everyone outside finance. Das explains how everything from home mortgages to climate change have become fully financialized... how "voodoo banking" keeps generating massive phony profits even now... and how a new generation of "Masters of the Universe" has come to own the world. Finally, in The Fearful Rise of Markets, top Financial Times global finance journalist John Authers reveals how the first truly global super bubble was inflated, and may now be inflating again. He illuminates the multiple roots of repeated financial crises, presenting a truly global view that avoids both oversimplification and ideology. Most valuable of all, Authers offers realistic solutions: for decision-makers who want to prevent disaster, and investors who want to survive it. From world-renowned leaders and experts, including Dr. Mark Zandi, Satyajit Das, and John Authers

The Financial Crisis in Perspective (Collection)

A definitive cultural history of high finance from one of theindustry's most astute analysts Written by internationally respected financial expert SatyajitDas, Extreme Money shows how real engineering was replacedby financial engineering in the twentieth century, enabling vastfortunes to be made not from goods produced or services performed,but from supplying and trading money. Extreme Money focuses on this evisceratedreality—the monetary shadow of real things—and what itmeans today. The high levels of economic growth and the wealth thatinevitably follows, driven by cheap debt, financial engineering,and speculation, were never sustainable, and the last few yearshave borne this out. The book shows how policy makers andregulators unknowingly underwrote the risks, substantially reducingtheir ability to control economic outcomes. Extreme moneyconcentrated economic power, wealth, and risk in the hands of asmall community of gifted, dynamic financiers largely outside theregulatory purview and the democratic process, and there's no goingback. Explains the extreme money games (via private equity,securitization, derivatives, hedge funds, and other means) inventedby the elite financiers of last century Raises deeper questions about the nature of the economicstructure and assumptions about ongoing financially engineeredprosperity that readers, politicians, and financial figures need tobe asking The book is timed to coincide with the next phase of thefinancial crisis, as prospects of recovery diminish and the globaleconomy becomes mired in a Western version of Japan's "LostDecade" Ambitious in scope and coverage, the book is the indispensible,in-depth guide to the age of modern money. An age defined byextremes of financial behavior.

The Masters of the Universe and the Cult of Risk

Structured Products Volume 2 consists of 5 Parts and 21 Chapters covering equity derivatives (including equity swaps/options, convertible securities and equity linked notes) , commodity derivatives (including energy, metal and agricultural derivatives), credit derivatives (including credit linked notes/collateralised debt obligations ("CDOs")), new derivative markets (including inflation linked derivatives and notes, insurance derivatives, weather derivatives, property, bandwidth/telephone minutes, macro-economic index and emission/environmental derivatives ) and tax based applications of derivatives. It also covers the structure and evolution of derivative markets including electronic trading markets and the origins, evolution and prospects for derivative markets. EQUITY LINKED STRUCTURES 1 Equity Derivatives - Equity Futures; Equity Options/Warrants & Equity Swaps 2 Convertible Securities 3 Structured Convertible Securities 4 Equity Linked Notes 5 Equity Derivatives - Investor Applications 6 Equity Capital Management - Corporate Finance Applications of Equity Derivatives COMMODITY LINKED STRUCTURES 7 Commodity Derivatives - Commodity Futures/Options, Commodity Swaps and Commodity Linked Notes 8 Commodity Derivatives - Energy (Oil, Natural Gas and Electricity) Markets 9 Commodity Derivatives - Metal Markets 10 Commodity Derivatives - Agricultural and Other Markets CREDIT DERVIATIVES 11 Credit Derivative Products 12 Credit Linked Notes/Collateralised Debt Obligations 13 Credit Derivatives/Default Risk - Pricing and Modelling 14 Credit Derivatives - Applications/Markets NEW MARKETS 15 Inflation Indexed Notes and Derivatives 16 Alternative Risk Transfer/Insurance Derivatives 17 Weather Derivatives 18 New Markets - Property; Bandwidth; Macro-Economic and Environmental Derivatives 19 Tax and Structured Derivatives Transactions EVOLUTION OF DERIVATIVES MARKETS 20 Electronic Markets and Derivatives Trading 21 Financial Derivatives - Evolution and Prospects

Equity; Commodity; Credit and New Markets (The Das Swaps and Financial Derivatives Library)

Structured Products Volume 2

The emphasis is on actual transactions that are stripped down to analyse and illustrate the dynamics of individual structures and to understand the types of products available. The text is structured either to be read through from start to finish, or to be used as a reference source. Australian author.

Products, Pricing, Applications and Risk Management

Swaps/financial Derivatives

Interest Rate and Currency Swaps, LTFX, FRAs, Caps, Floors and Collars : Structures, Pricing, Applications and Markets

Swap Financing

Jhalak Modi

Over 50 recipes covering all you need to know about AWS networking About This Book Master AWS networking concepts with AWS Networking Cookbook. Design and implement highly available connectivity and multi-regioned AWS solutions A recipe-based guide that will eliminate the complications of AWS networking. A guide to automate networking services and features Who This Book Is For This book targets administrators, network engineers, and solution architects who are looking at optimizing their cloud platform's connectivity. Some basic understanding of AWS would be beneficial. What You Will Learn Create basic network in AWS Create production grade network in AWS Create global scale network in AWS Security and Compliance with AWS Network Troubleshooting, best practices and limitations of AWS network Pricing model of AWS network components Route 53 and Cloudfront concepts and routing policies VPC Automation using Ansible and CloudFormation In Detail This book starts with practical recipes on the fundamentals of cloud networking and gradually moves on to configuring networks and implementing infrastructure automation. This book then supplies in-depth recipes on networking components like Network Interface, Internet Gateways, DNS, Elastic IP addresses, and VPN CloudHub. Later, this book also delves into designing, implementing, and optimizing static and dynamic routing architectures, multi-region solutions, and highly available connectivity for your enterprise. Finally, this book will teach you to troubleshoot your VPC's network, increasing your VPC's efficiency. By the end of this book, you will have advanced knowledge of AWS networking concepts and technologies and will have mastered implementing infrastructure automation and optimizing your VPC. Style and approach A set of exciting recipes on using AWS Networking services more effectively.

AWS Networking Cookbook

Banquet of Consequences RELOADED, A

“The current environment of zero-cost money, concentrated bank power, and anaemic productive growth has coalesced not by accident or economic cycle but by wilful choice. Das warns that without significant change, the only possible future holds dire consequences for all but an elite few. His tone is as urgent as the problem. All central bankers, politicians, and citizens should heed his words.” Nomi Prins, author of Other People’s Money and All the Presidents’ Bankers “Written with passion and insight, and laden with facts, the book provides a clear explanation of the economic, social, and political issues that lie ahead, and the difficulty in solving them.” Jon Markman, Forbes columnist and president and publisher of Markman Capital Insight A Banquet of Consequences is an intricately researched, decisively written and devastating analysis of today’s economy. Satyajit Das connects disparate strands of a story, and in doing so delivers a damning critique of global economic policies of the last 50 years. He argues that governments and citizens of every political hue are now so addicted to growth and resistant to change, that a prolonged period of chronic stagnation, sustained by large infusions of monetary morphine and continuous interventions, or an unavoidable financial, political and social breakdown are the only possible outcomes.

The reality of our unusually uncertain economic future

A Banquet of Consequences

Addresses recent developments in the market and analyzes new swap structures. Explains the banking innovations, techniques and players that spawned this financial revolution. Specific topics include: The structure and operation of all major swap markets in North America, Europe and Asia; The economics and pricing of a wide variety of swap structures; Techniques for hedging swaps and managing a swap inventory; Using swaps to access low-cost funding and to manage asset/liability positions; Accounting, taxation, legal and documentary issues.

The Global Reference to Products, Pricing, Applications and Markets

Swap & Derivative Financing

The Third Edition of Credit Derivatives is a complete reference work offering comprehensive information on credit derivative products, applications, pricing/valuation approaches, documentation issues and accounting/taxation aspects of such transactions. Previous editions have consisted of a number of chapters written by the author and a collection of papers from leading market practitioners. This edition departs from the previous format -- all chapters have been written by the author, Satyajit Das. Key areas of new and enhanced coverage include: Inclusion of latest developments in documentation (the 2003 Credit Derivative Definitions and market developments such as Master Confirmations). Description of developments in structured credit products, including portfolio products, up-front credit default swaps, quanto credit default swaps, credit swaptions, zero recovery credit default swaps, first-to-default swaps/ Nth ?to-default swaps, and many more. Increased coverage of credit linked notes including repackaging structures. Detailed discussion of the collateralized debt obligations (?CDO?) market, including CDO structures, pricing and valuation, rating methodology, CDO variations, single tranche CDOs, hedging of CDO tranches, behavior of CDO tranche (equity, mezzanine, senior and super senior) investments. Increased coverage of pricing of credit default swaps (including models and valuation approaches) and discussion of cash-synthetic basis and its causes and behavior. Coverage of E2C (equity to credit) hedging. Detailed examples of applications of credit derivatives by different market participants. Discussion of trading in credit derivatives including more complex trading strategies such as basis trading and capital structure arbitrage trades. Updated coverage of regulatory framework for credit derivatives. Updated discussion of market structures, developments and prospects. Order your copy of this comprehensive work today.

CDOs and Structured Credit Products

Credit Derivatives

Credit Derivatives Trading & Management of Credit & Default Risk Written by some of the industry’s leading names, Credit Derivatives - Trading & Management of Credit and Default Riskprovides a comprehensive overview of this increasingly important financial instrument. Credit Derivatives promise to revolutionise the management of credit risk in banking and capital markets. Credit Derivatives will be essential for commercial and investment banks as well as brokers active in credit derivative products; liability and investment managers who utilise or are looking at utilising credit derivatives; consultants, IT firms and accountants active in advising traders or users of these instruments; and, regulatory agencies. It can also be used in practical in-house training programmes as well as in post-graduate programmes such as MBA or Applied Finance courses in credit risk management, either as the primary text or supplementary reading. Credit Derivatives is edited by the author of Swaps & Financial Derivatives, Satyajit Das, who is also the major contributor to the book. There are additional specialist chapters by practitioners drawn from industry leaders including: Citibank Limited Clifford Chance JP Morgan KMV Corporation Moody’s Investors Service Price Waterhouse "In a rapidly developing area of finance, where knowledge and information are jealously guarded, this book offers a means of ‘getting up to speed’ on a topic that may well fundamentally alter the way the banking and investment community handles credit risk." - Mark Schneider, Head of New Markets Société Générale Australia Limited "In his usual style, Das has produced…one of the most extensive discussions of credit derivatives…A must have reference for students and market practitioners alike." - Quentin K. Hills, Head, Derivatives Marketing - Asia Citibank, N.A. "…too often this kind of ‘real world’ material does not get included in derivatives books…This has the right combination of basic explanation and technical material." - Nick Reed, Director, RVC Associates "…a comprehensive collection of material on…this relatively new field of banking practice." - Ralph Yiehmin Liu, Managing Director, Advanced Risk Management Solutions Pte Ltd

Trading & Management of Credit & Default Risk

Over 50 recipes covering all you need to know about AWS networkingAbout This Book* Master AWS networking concepts with AWS Networking Cookbook.* Design and implement highly available connectivity and multi-regioned AWS solutions* A recipe-based guide that will eliminate the complications of AWS networking.* A guide to automate networking services and featuresWho This Book Is ForThis book targets administrators, network engineers, and solution architects who are looking at optimizing their cloud platform's connectivity. Some basic understanding of AWS would be beneficial.What You Will Learn* Create basic network in AWS* Create production grade network in AWS* Create global scale network in AWS* Security and Compliance with AWS Network* Troubleshooting, best practices and limitations of AWS network* Pricing model of AWS network components* Route 53 and Cloudfront concepts and routing policies* VPC Automation using Ansible and CloudFormationIn DetailThis book starts with practical recipes on the fundamentals of cloud networking and gradually moves on to configuring networks and implementing infrastructure automation. This book then supplies in-depth recipes on networking components like Network Interface, Internet Gateways, DNS, Elastic IP addresses, and VPN CloudHub. Later, this book also delves into designing, implementing, and optimizing static and dynamic routing architectures, multi-region solutions, and highly available connectivity for your enterprise.Finally, this book will teach you to troubleshoot your VPC's network, increasing your VPC's efficiency. By the end of this book, you will have advanced knowledge of AWS networking concepts and technologies and will have mastered implementing infrastructure automation and optimizing your VPC.Style and approachA set of exciting recipes on using AWS Networking services more effectively.

Satyajit Das

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