Risk Transfer: Derivatives in Theory and Practice
Christopher L. CulpISBN: 0-471-46498-8; 9780471464983;
Praise for Risk Transfer "Culp?s book is a masterly account of the economics of risk and the development of derivatives. It is not only soundly based in theory but it serves as a splendid practical guide to the multiplicity of traded risks in the financial markets." ?Sir Alan Walters, Chief Economic Advisor to Margaret Thatcher (1980-85 and 1989) and former Vice Chairman, AIG Trading Group (1990-2000) "As always, Chris Culp makes me rethink things I thought I already understood. The idea he champions in this book?that derivatives can be viewed through the lens of an asset lending instrument?helps in understanding the behavior of the producers and users of derivatives. And Culp?s historical notes add color to the tapestry of risk management." ?Charles Smithson, Managing Director, Rutter Associates "Derivatives are the highest financial life form on the planet, and Culp does a great job of explaining why. I was especially...