DUBLIN--(BUSINESS WIRE)--Dublin - Research and Markets (http://www.researchandmarkets.com/research/e7bf0c81/the_number_that_ki) has announced the addition of John Wiley and Sons Ltd's new book "The Number That Killed Us: A Story of Modern Banking, Flawed Mathematics, and a Big Financial Crisis" to their offering.
A Critical Look at the Risk Measurement Tool That Has Repeatedly Hurt the Financial World
The Number That Killed Us finally tells the "greatest story never told": how a mysterious financial risk measurement model has ruled the world for the past two decades and how it has repeatedly, and severely, caused market, economic, and social turmoil. This model was the key factor behind the unleashing of the cataclysmic credit crisis that erupted in 2007 and which the effects are still being felt around the world. The Number That Killed Us is the first and only book to thoroughly explain this hitherto-uncovered phenomenon, making it the key reference for truly understanding why the malaise took place.
The very number financial institutions and regulators use to measure risk (Vale at Risk/VaR) has masked it, allowing firms to leverage up their speculative bets to unimaginable levels. VaR sanctioned and allowed the monstrously geared toxic punts that sank Wall Street, and the world, during the latest crisis. We can confidently say that VaR was the culprit.
- Contains controversial analysis of the hotly debated risk metric Value at Risk (VaR) and its central role in the credit crisis
- Denounces the role of regulators and academics in forcing the presence of the inevitably malfunctioning in financeland
- Describes how bonus-hungry traders can use VaR as an alibi to take on the most reckless of bets
- Reveals how the most recent financial crisis will simply repeat itself if the problems behind VaR are not unmasked
- Pablo Triana is also the author of Lecturing Birds on Flying
Authors Bio:
- Pablo Triana is a professor at ESADE Business School, and the author of Lecturing Birds On Flying (also by Wiley) and Corporate Derivatives. He has published widely on risk management, derivatives, and banking regulation in many of the world's leading financial and business imprints. He has held various roles in the financial industry.
For more information visit http://www.researchandmarkets.com/research/e7bf0c81/the_number_that_ki
Source: John Wiley and Sons Ltd