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Author: Ilia Bouchouev
Publisher: Springer Nature
ISBN: 3031361512
Category : Mathematics
Languages : en
Pages : 345
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Book Description
The global oil market is no longer solely influenced by the supply and demand of physical oil barrels. In today's landscape, financial barrels traded by hedge funds using quantitative algorithms and dealers managing large portfolios of oil derivatives are equally crucial in determining the price of oil. This book offers a fascinating insight into the world of oil derivatives, exploring the quantitative models and trading strategies used by professional market participants. With a focus on oil options and volatility trading, the reader is taken on a journey through the story of this market, narrated by one of its pioneers who managed a highly successful trading business for almost a quarter of a century. Bridging the fields of energy economics and mathematical finance, this book demonstrates how the science of trading can unearth unique opportunities in the oil market. Written for aspiring quantitative traders and academic researchers alike, it offers a rare glimpse into the opaque and secretive world of oil derivatives, showcasing how it operates in practice.
Author: Ilia Bouchouev
Publisher: Springer Nature
ISBN: 3031361512
Category : Mathematics
Languages : en
Pages : 345
Get Book Here
Book Description
The global oil market is no longer solely influenced by the supply and demand of physical oil barrels. In today's landscape, financial barrels traded by hedge funds using quantitative algorithms and dealers managing large portfolios of oil derivatives are equally crucial in determining the price of oil. This book offers a fascinating insight into the world of oil derivatives, exploring the quantitative models and trading strategies used by professional market participants. With a focus on oil options and volatility trading, the reader is taken on a journey through the story of this market, narrated by one of its pioneers who managed a highly successful trading business for almost a quarter of a century. Bridging the fields of energy economics and mathematical finance, this book demonstrates how the science of trading can unearth unique opportunities in the oil market. Written for aspiring quantitative traders and academic researchers alike, it offers a rare glimpse into the opaque and secretive world of oil derivatives, showcasing how it operates in practice.
Author: Ilia Bouchouev
Publisher: Springer
ISBN: 9783031361500
Category : Mathematics
Languages : en
Pages : 0
Get Book Here
Book Description
The global oil market is no longer solely influenced by the supply and demand of physical oil barrels. In today's landscape, financial barrels traded by hedge funds using quantitative algorithms and dealers managing large portfolios of oil derivatives are equally crucial in determining the price of oil. This book offers a fascinating insight into the world of oil derivatives, exploring the quantitative models and trading strategies used by professional market participants. With a focus on oil options and volatility trading, the reader is taken on a journey through the story of this market, narrated by one of its pioneers who managed a highly successful trading business for almost a quarter of a century. Bridging the fields of energy economics and mathematical finance, this book demonstrates how the science of trading can unearth unique opportunities in the oil market. Written for aspiring quantitative traders and academic researchers alike, it offers a rare glimpse into the opaque and secretive world of oil derivatives, showcasing how it operates in practice.
Author: Robert McNally
Publisher: Columbia University Press
ISBN: 0231543689
Category : Business & Economics
Languages : en
Pages : 336
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Book Description
As OPEC has loosened its grip over the past ten years, the oil market has been rocked by wild price swings, the likes of which haven't been seen for eight decades. Crafting an engrossing journey from the gushing Pennsylvania oil fields of the 1860s to today's fraught and fractious Middle East, Crude Volatility explains how past periods of stability and volatility in oil prices help us understand the new boom-bust era. Oil's notorious volatility has always been considered a scourge afflicting not only the oil industry but also the broader economy and geopolitical landscape; Robert McNally makes sense of how oil became so central to our world and why it is subject to such extreme price fluctuations. Tracing a history marked by conflict, intrigue, and extreme uncertainty, McNally shows how—even from the oil industry's first years—wild and harmful price volatility prompted industry leaders and officials to undertake extraordinary efforts to stabilize oil prices by controlling production. Herculean market interventions—first, by Rockefeller's Standard Oil, then, by U.S. state regulators in partnership with major international oil companies, and, finally, by OPEC—succeeded to varying degrees in taming the beast. McNally, a veteran oil market and policy expert, explains the consequences of the ebbing of OPEC's power, debunking myths and offering recommendations—including mistakes to avoid—as we confront the unwelcome return of boom and bust oil prices.
Author: Adi Imsirovic
Publisher: Springer Nature
ISBN: 3030717186
Category : Business & Economics
Languages : en
Pages : 262
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Book Description
This is a book about the international oil market. It takes a historical perspective on how the market emerged, developed, and became what it is today—the biggest commodity market in the world. It is mature and complex, but far from perfect. Throughout most of its 150-year history, the oil market has been monopolised by companies and governments. For only a fraction of that, oil traded in a relatively free market. As a result, we had to live with ‘big oil’, economic shocks, high oil prices, instability and wars. Using a simple concept of market power, this book will explain the meaning of ‘oil price’ and how it is established while offering a valuable lesson for other commodities. Market power is the key to understanding the ‘price of oil’. This book uses a simple concept of price-makers and price-takers to examine the evolution of oil markets, their structure, and prices. The early decades of the oil industry were competitive with low barriers to entry. Barely 25 years later, the Standard Oil company created a refining monopoly, buying oil at its own ‘posted’ price. In the following century, the cartel of major oil companies, helped by their governments, did the same at the international level. OPEC helped producing governments regain control of their own resources, but the organisation was never able to retain a similar level of control. After 1986 price collapse, OPEC abdicated the price-making function in favour of the market. While it never gave up attempts to influence prices, OPEC had to link their official prices to one of the global oil benchmarks. Modern international oil markets function because of oil benchmarks such as Brent, WTI and Dubai. This book showcases: • How oil traders played a prominent role in development of the industry • How policies of consuming nations helped oil cartels • Why and how the US price of oil was negative • How AI has changed the way markets operate and the way in which the markets are likely to change in future This book explores how oil markets grew, functioned, and have occasionally failed to do their job. The ecosystem of derivatives or ‘paper barrels’ trading in far greater volume than physical oil plays a very important role in mitigating risk. With this core tenant, setting the ‘price of oil’ is explained in detail.
Author: Salvatore Carollo
Publisher: John Wiley & Sons
ISBN: 1119962722
Category : Business & Economics
Languages : en
Pages : 212
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Book Description
It’s a fair bet that most of what you think you know about oil prices is wrong. Despite the massive price fluctuations of the past decade, the received wisdom on the subject has remained fundamentally unchanged since the 1970s. When asked, most people – including politicians, financial analysts and pundits – will respond with a tired litany of reasons ranging from increased Chinese and Indian competition for diminishing resources and tensions in the Middle East, to manipulation by OPEC and exorbitant petrol taxes in the EU. Yet the facts belie these explanations. For instance, what really happened in late 2008 when, in just a few weeks, oil prices plummeted from $144 dollars to $37 dollars a barrel? Did Chinese and Indian demand suddenly dry up? Did Middle East conflicts magically resolve themselves? Did OPEC flood the market with crude? In each case the answer is a definitive no – quite the opposite in fact. Industry expert Salvatore Carollo explains that the truth behind today’s increasingly volatile oil market is that over the past two decades oil prices have come untethered from all classical notions of supply and demand and have transcended any country’s, consortium’s, cartel’s, or corporate entity’s powers to control them. At play is a subtler, more complex game than most analysts realise (or are unwilling to admit to), a very dangerous game involving runaway financial speculation, self-defeating government policymaking and a concerted disinvestment in refinery capacity among the oil majors. In Understanding Oil Prices Carollo identifies the key players in this dangerous game, exploring their competing interests and motivations, their moves and countermoves. Beginning with the 1976 oil embargo and moving through the 1986 Chernobyl incident, the implementation of the US Clean Air Act Amendments of 1990, and the precipitous expansion of the oil futures market since the turn of the century, he traces the vast structural changes which have occurred within the oil industry over the past four decades, identifying their economic, social and geopolitical drivers, and analysing their fallout in the global economy. He explores the oil industry’s decision to scale down refining capacity in the face of increasing demand and the effects of global shortages of petrol, diesel, jet fuel, fuel oil, chemical feedstocks, lubricants and other essential finished products, and describes how, beginning in the year 2000, the oil futures market detached itself almost completely from the crude market, leading to the assetization of oil, and the crippling impact reckless speculation in oil futures has had on the global economy. Finally he proposes new, more sophisticated models that economists and financial analysts can use to make sense of today’s oil market, while offering industry leaders and government policymakers prescriptions for stabilising the market to ensure a relatively steady flow of affordable oil. A concise, authoritative guide to understanding the complex, oft misunderstood oil markets, Understanding Oil Prices is an important resource for energy market participants, commodity traders and investors, as well as business journalists and government policymakers alike.
Author: Dimitris N. Chorafas
Publisher: John Wiley & Sons
ISBN: 0471269360
Category : Business & Economics
Languages : en
Pages : 338
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Book Description
"This book provides a very helpful and informative insight into an aspect of finance that has become quite intricate and complex but is nevertheless very fascinating." —Dr. Henry Kaufman, President, Henry Kaufman & Company, Inc. Strategies and advice on balancing financial risk for leveraged companies In today's highly leveraged economy, good liabilities management has become vitally important. Entire sectors of the economy, and some of the biggest financial and industrial companies, face dramatic overexposure problems. But adequate internal liability controls can greatly reduce risk. Featuring case studies in a number of industries and examples of both proper and improper liabilities management in major organizations, Liabilities, Liquidity, and Cash Management shows managers, accountants, investment advisors, and other professionals who deal with liabilities and overexposure how they can implement good internal controls on liability and overexposure. It provides modern tools, critical strategies, and timely advice specifically tailored to the needs of companies facing overexposure and debt risk in a volatile economy. Topics include: Loss of capitalization Derivatives Risks of globalization Sensitivity analysis, gap analysis, stress testing, and value-added solution Real-time financial reporting and virtual balance sheets Liquidity management Money markets, yield curves, and interest rates Mismatch risk profiles Credit risk Risk in the new economy
Author: Grzegorz Drożdż
Publisher: John Benjamins Publishing Company
ISBN: 9027266662
Category : Language Arts & Disciplines
Languages : en
Pages : 284
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Book Description
The leitmotif, but not exclusive theme, of the present volume is Ronald Langacker’s (1987) thesis that “lexicon, morphology, and syntax form a continuum of symbolic units serving to structure conceptual content for expressive purposes”. The concept of the lexicogrammar continuum contrasts especially with mainstream generative grammar, but also, although less radically, with other cognitive linguistic paradigms, such as Construction Grammar. The contributors to this volume explore the lexicogrammar continuum and other issues of the architecture of language mostly from a cognitive linguistic perspective. A wide range of theoretical and methodological themes is covered such as the integration of discourse and interactional phenomena into Cognitive Grammar, the status of introspective data, figurative language and thought (i.e. metaphor and metonymy), morphosyntactic constructions, and phonological structure. Besides English (including Old English), languages analyzed in some detail include Polish, Czech, Dutch, Estonian, Georgian, German, Danish, and Portuguese. The volume will be of interest to scholars and graduate students in cognitive linguistics, especially Cognitive Grammar, Construction Grammar, metaphor and metonymy, and corpus linguistics.
Author: F. Paul Pacult
Publisher: John Wiley & Sons
ISBN: 1119599938
Category : Business & Economics
Languages : en
Pages : 242
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Book Description
Learn about one of the most impactful distilleries in American history in this comprehensive tale Buffalo, Barrels, & Bourbon tells the fascinating tale of the Buffalo Trace Distillery, from the time of the earliest explorations of Kentucky to the present day. Author and award-winning spirits expert F. Paul Pacult takes readers on a journey through history that covers the American Revolutionary War, U.S Civil War, two World Wars, Prohibition, and the Great Depression. Buffalo, Barrels, & Bourbon covers the pedigree and provenance of the Buffalo Trace Distillery: The larger-than-life personalities that over a century and a half made Buffalo Trace Distillery what it is today Detailed accounts on how many of the distillery’s award-winning and world-famous brands were created The impact of world events, including multiple depressions, weather-related events, and major conflicts, on the distillery Belonging on the shelf of anyone with an interest in American spirits and history, Buffalo, Barrels, & Bourbon is a compelling must-read.
Author: Earl Fairfeild
Publisher: AuthorHouse
ISBN: 1496938305
Category : Fiction
Languages : en
Pages : 151
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Book Description
This story that is a series of volumes begins with a man being brought to a lake shore in Scotland by what would be described as Sasquatch or Big Foot to be reintroduced to his actual selfa life like no other, a life that would span the ages of earth, and all of the life forms that dwelled upon her. This story may explain many mysteries of this world, blending science with lore and ancient tales told to children before bed. Even more so that the tales of old are not just imaginative minds conjuring a good yarn, but molecular memory of the first five ages of man on this earth mother. Each being wiped out by the Purges as directed by the greater powers of the universe, only to begin again with a new age. This age of man, the one you and I live in now being the only mortal age for the Greater Powers are not without curiosity. A need to knowwhat if?
Author: Joe Kissell
Publisher: alt concepts
ISBN: 199078318X
Category : Computers
Languages : en
Pages : 130
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Book Description
Easily create and enter secure passwords on all your devices! Version 6.2, updated March 20, 2024 Annoyed by having to type hard-to-remember passwords? Let 1Password do the heavy lifting. With coverage of 1Password version 8 for Mac, Windows, Linux, iOS/iPadOS, Android, and Apple Watch, author Joe Kissell shows you how to generate and enter secure passwords, speed up your online shopping, and share and sync web logins and other confidential data. Wrangling your web passwords can be easy and secure, thanks to 1Password, the popular password manager from AgileBits. In this book, Joe Kissell brings years of real-world 1Password experience into play to explain not only how to create, edit, and enter web login data easily, but also how to autofill contact and credit card info when shopping online, audit your passwords and generate better ones, handle two-factor authentication (2FA), sync data across devices using a hosted 1Password account (individual, family, or business), and securely share passwords with family members, coworkers, and friends. This fully revised sixth edition covers 1Password version 8 for Mac, Windows, Linux, iOS/iPadOS, Android, and Apple Watch. It does not include instructions for using earlier versions of 1Password. Topics include: Meet 1Password: Set your master password, explore the various 1Password components, and decide on your ideal usage strategy. What's New in Version 8: 1Password 8 unifies features and interface across platforms and adds important new features—but it also includes some controversial changes. Learn what has changed, how to migrate from older versions, and what new behaviors you must adjust to. Master logins: In 1Password, a typical login contains a set of credentials used to sign in to a website. Find out how to create logins, sort them, search them, tag them, and more. You’ll also find help with editing logins—for example, changing a password or adding further details. Understand password security: Get guidance on what makes for a good password, and read Joe’s important Password Dos and Don’ts. A special topic covers how to perform a security audit in order to improve poor passwords quickly. Go beyond web logins: A primary point of 1Password is to speed up web logins, but 1Password can also store and autofill contact information (for more than one identity, even), along with credit card information. You’ll also find advice on storing SSH keys, passwords for password-protected files and encrypted disk images, confidential files, software licenses, scans of important cards or documents, and more. Sync your passwords: Discover how a hosted 1Password account can sync all your data securely across your devices. Share your passwords: Learn to store passwords within a family or team hosted account, or even with people who don't already use 1Password at all. You’ll also discover the answers to key questions, including: • Should I keep using my web browser’s autofill feature? • What about iCloud Keychain? Should I use that too? • Do I need the full 1Password app, or is the browser extension enough? • How does the Universal Autofill feature for Mac work across browsers and apps? • What are passkeys, and what can 1Password do with them? • How can 1Password help me with sites where I sign in with my Apple, Google, or Facebook account? • What's the easy way to prevent sensitive information from falling into the wrong hands at a border crossing? • What can I do quickly to get better password security? • How can I find and update weak passwords I created long ago? • What should I do about security questions, like the name of my pet? • How can 1Password provide a time-based one-time password (TOTP)?
