Callum Henderson

Currency Strategy (eBook, PDF)

The Practitioner's Guide to Currency Investing, Hedging and Forecasting

• Format: PDF

Produktbeschreibung

Currency Strategy, Second Edition develops new techniques and explains classic tools available for predicting, managing, and optimizing fluctuations in the currency markets. Author Callum Henderson shows readers ho to use mathematical models to assist in the prediction of crises and gives practical advice on how to use these and other tools successfully. Given there such huge focus on China at the moment, the timing of this new edition is particularly important. The new edition will feature a thorough update on the key developments in the past 3 years, new chapters on emerging markets, an in-depth review of the markets of China and India and their currencies and much more.

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 264
• Erscheinungstermin: 1. Mai 2006
• Englisch
• ISBN-13: 9780470029732
• Artikelnr.: 37289644

Autorenporträt

CALLUM HENDERSON is Head of FX Strategy for a leading international bank, based in Singapore. A wide-quoted authority of both emerging and currency markets, Mr Henderson has spent the past 16 years in the financial markets in various capacities and has written articles for many leading financial journals and given seminars around the world on global currency markets. Mr Henderson is the author of three previous books covering the Asian economic story: the bestseller Asia Falling, China on the Brink (awarded Best Business Book of 1999 by the Library Journal of the US) and Asian Dawn.

Inhaltsangabe

Preface to the Second Edition. Acknowledgements. About the Author.
Introduction. PART ONE: THEORY AND PRACTICE. 1 Fundamental Analysis: The
Strengths and Weaknesses of Traditional Exchange Rate Models. 1.1
Purchasing Power Parity. 1.2 The Monetary Approach. 1.3 The Interest Rate
Approach. 1.4 The Balance of Payments Approach. 1.5 The Portfolio Balance
Approach. 1.6 Summary. 2 Currency Economics: A More Focused Framework. 2.1
Currencies are Different. 2.2 Currency Economics. 2.3 Summary. 3 Flow:
Tracking the Animal Spirits. 3.1 Some Examples of Flow Models. 3.2
Speculative and Non-Speculative Flows. 3.3 Summary. 4 Technical Analysis:
The Art of Charting. 4.1 Origins and Basic Concepts. 4.2 The Challenge of
Technical Analysis. 4.3 The Art of Charting. 4.4 Schools of (Technical)
Thought. 4.5 Technical Analysis and Currency Market Practitioners. PART
TWO: REGIMES AND CRISES. 5 Exchange Rate Regimes: Fixed or Floating? 5.1 An
Emerging World. 5.2 A Brief History of Emerging Market Exchange Rates. 5.3
Fixed and Pegged Exchange Rate Regimes. 5.4 Exchange Rate Regime
Sustainability - A Bi-Polar World? 5.5 The Realworld Relevance of the
Exchange Rate Regime. 5.6 Summary. 6 Model Analysis: Can Currency Crises be
Predicted? 6.1 A Model for Pegged Exchange Rates. 6.2 A Model for Freely
Floating Exchange Rates. 6.3 Summary. PART THREE: THE REAL WORLD OF THE
CURRENCY MARKET PRACTITIONER. 7 Managing Currency Risk I - The Corporation:
Advanced Approaches to Corporate Treasury FX Strategy. 7.1 Currency Risk.
7.2 Types of Currency Risk. 7.3 Managing Currency Risk. 7.4 Measuring
Currency Risk - VaR and Beyond. 7.5 Core Principles for Managing Currency
Risk. 7.6 Hedging - Management Reluctance and Internal Methods. 7.7 Key
Operational Controls for Treasury. 7.8 Tools for Managing Currency Risk.
7.9 Hedging Strategies. 7.10 Optimization. 7.11 Hedging Emerging Market
Currency Risk. 7.12 Benchmarks for Currency Risk Management. 7.13 Budget
Rates. 7.14 The Corporation and Predicting Exchange Rates. 7.15 Summary. 8
Managing Currency Risk II - The Investor: Currency Exposure within the
Investment Decision. 8.1 Investors and Currency Risk. 8.2 Currency Markets
are Different. 8.3 To Hedge or not to Hedge - That is the Question! 8.4
Absolute Returns - Risk Reduction. 8.5 Selecting the Currency Hedging
Benchmark. 8.6 Relative Returns - Adding Alpha. 8.7 Examples of Active
Currency Management Strategies. 8.8 Emerging Markets and Currency Hedging.
8.9 Summary. 9 Managing Currency Risk III - The Speculator: Myths,
Realities and How to be a Better Currency Speculator. 9.1 The Speculator
- From Benign to Malign. 9.2 Size Matters. 9.3 Myths and Realities. 9.4 The
Speculators - Who they are. 9.5 The Speculators - Why They Do It. 9.6 The
Speculators - What They Do. 9.7 Currency Speculation - A Guide. 9.8
Summary. 10 Applying the Framework. 10.1 Currency Economics. 10.2 Flow
Analysis. 10.3 Technical Analysis. 10.4 Long-Term Valuation. 10.5 The
Signal Grid. 10.6 Risk Appetite Indicators. 10.7 Exchange Rate Regimes.
10.8 Currency Crises and Models. 10.9 Managing Currency Risk I - The
Corporation. 10.10 Managing Currency Risk II - The Investor. 10.11 Managing
Currency Risk III - The Speculator. 10.12 Currency Strategy for Currency
Market Practitioners. 10.13 Summary. 11 EmergingWorld: New Growth Markets
for Global FX. 11.1 The Growth of Emerging Markets as an Asset Class. 11.2
Increasing Importance of EM Currencies. 11.3 Explosive Growth in Asian
Currencies. 11.4 Asian NDF Markets: Growth and Liberalization. 11.5
Emerging European Currencies. 11.6 Latin American Currencies. 11.7 Summary.
Conclusion. Index.