Risk Management: Foundations For A Changing Financial World《风险管理》

Foreword.
Acknowledgments.
Introduction.
PART I: OVERVIEW—TWO DECADES OF RISK MANAGEMENT.1990–1999.
　CHAPTER 1: A Framework for Understanding Market Crisis (Richard M.Bookstaber)
　　Reprinted from AIMR Conference Proceedings: Risk Management:Principles and Practices (August 1999):7–19.
　CHAPTER 2: Practical Issues in Choosing and Applying RiskManagement Tools (Jacques Longerstaey)
　　Reprinted from AIMR Conference Proceedings: Risk Management:Principles and Practices (August 1999):52–61.
　CHAPTER 3: The Three P's of Total Risk Management (Andrew W.Lo)
　　Reprinted from the Financial Analysts Journal (January/February1999):13–26.
　CHAPTER 4: Reporting and Monitoring Risk Exposure (Robert W.Kopprasch, CFA)
　　Reprinted from AIMR Conference Proceedings: Risk Management(April 1996): 25–33.2000–Present.
　CHAPTER 5: Risk Management: A Review (Sébastien Lleo, CFA)
　　Modifi ed from The Research Foundation of CFA Institute (February2009).
　CHAPTER 6: Defining Risk (Glyn A. Holton)
　　Reprinted from the Financial Analysts Journal (November/December2004): 19–25.
　CHAPTER 7: Value and Risk: Beyond Betas (Aswath Damodaran)
　　Reprinted from the Financial Analysts Journal (March/April2005):38–43.
　CHAPTER 8: A Simple Theory of the Financial Crisis; or, WhyFischer Black Still Matters (Tyler Cowen)
　　Reprinted from the Financial Analysts Journal (May/June2009):17–20.
　CHAPTER 9: Managing Firm Risk (Bluford H. Putnam)
　　Reprinted from AIMR Conference Proceedings: Ethical Issues forToday’s Firm (July 2000):51–61.
　CHAPTER 10: Risk Measurement versus Risk Management (D. SykesWilford)
　　Reprinted from AIMR Conference Proceedings: Improving theInvestment Process through Risk Management (November2003):17–21.
PART II: MEASURING RISK.
　CHAPTER 11: What Volatility Tells Us about Diversifi cation andRisk Management (Max Darnell)
　　Reprinted from CFA Institute Conference Proceedings Quarterly(September 2009):57–66.
　CHAPTER 12: Risk2: Measuring the Risk in Value at Risk (PhilippeJorion)
　　Reprinted from the Financial Analysts Journal (November/December1996): 47–56.
　CHAPTER 13: How Risk Management Can Benefi t Portfolio Managers(Michelle McCarthy)
　　Reprinted from AIMR Conference Proceedings: Risk Management:Principles and Practices (August 1999):62–72.
　CHAPTER 14: Merging the Risk Management Objectives of the Clientand Investment Manager (Bennett W. Golub)
　　Reprinted from AIMR Conference Proceedings: Exploring theDimensions of Fixed-Income Management (March 2004):13–23.
　CHAPTER 15: The Mismeasurement of Risk (Mark Kritzman, CFA, andDon Rich)
　　Reprinted from the Financial Analysts Journal (May/June2002):91–99.
　CHAPTER 16: Riskiness in Risk Measurement (Roland Lochoff)
　　Reprinted from AIMR Conference Proceedings: Exploring theDimensions of Fixed-Income Management (March 2004):40–51.
　CHAPTER 17: The Second Moment (Don Ezra)
　　Reprinted from the Financial Analysts Journal (January/February2009): 34–36.
　CHAPTER 18: The Sense and Nonsense of Risk Budgeting (Arjan B.Berkelaar, CFA, Adam Kobor, CFA, and Masaki Tsumagari, CFA)
　　Reprinted from the Financial Analysts Journal (September/October2006): 63–75.
　CHAPTER 19: Understanding and Monitoring the Liquidity CrisisCycle (Richard Bookstaber)
　　Reprinted from the Financial Analysts Journal (September/October2000):17–22.
　CHAPTER 20: Why Company-Specifi c Risk Changes over Time (James A.Bennett, CFA, and Richard W. Sias)
　　Reprinted from the Financial Analysts Journal (September/October2006): 89–100.
　CHAPTER 21: Black Monday and Black Swans (John C. Bogle)
　　Reprinted from the Financial Analysts Journal (March/April2008):30–40.
　CHAPTER 22: The Uncorrelated Return Myth (Richard M. Ennis,CFA)
　　Reprinted from the Financial Analysts Journal (November/December2009):6–7.
PART III: MANAGING RISK.
　　Alternative Investments.
　CHAPTER 23: Risk Management for Hedge Funds: Introduction andOverview (Andrew W. Lo)
　　Reprinted from the Financial Analysts Journal (November/December2001): 16–33.
　CHAPTER 24: Risk Management for Alternative Investment Strategies(Leslie Rahl)
　　Reprinted from AIMR Conference Proceedings: Exploring theDimensions of Fixed-Income Management (March 2004):52–62.
　CHAPTER 25: Sources of Change and Risk for Hedge Funds (CliffordS. Asness)
　　Reprinted from CFA Institute Conference Proceedings: Challengesand Innovation in Hedge Fund Management (August 2004):4–9,13–14.
　CHAPTER 26: Risk Management in a Fund of Funds (S. LukeEllis)
　　Reprinted from CFA Institute Conference Proceedings: Challengesand Innovation in Hedge Fund Management (August 2004):31–39.
　CHAPTER 27: Hedge Funds: Risk and Return (Burton G. Malkiel andAtanu Saha)
　　Reprinted from the Financial Analysts Journal (November/December2005): 80–88.
　　Credit Risk.
　CHAPTER 28: Credit Risk (Jeremy Graveline and MichaelKokalari)
　　Modifi ed from The Research Foundation of CFA Institute (November2006).
　CHAPTER 29: Tumbling Tower of Babel: Subprime Securitization andthe Credit Crisis (Bruce I. Jacobs)
　　Reprinted from the Financial Analysts Journal (March/April2009):17–30.
　CHAPTER 30: Applying Modern Risk Management to Equity and CreditAnalysis (Robert C. Merton)
　　Reprinted from CFA Institute Conference Proceedings Quarterly(December 2007):14–22.
　　Derivatives.
　CHAPTER 31: The Uses and Risks of Derivatives (Joanne M.Hill)
　　Reprinted from AIMR Conference Proceedings: Investing WorldwideVI (January 1996):46–58.
　CHAPTER 32: Effective Risk Management in the Investment Firm (MarkC. Brickell)
　　Reprinted from AIMR Conference Proceedings: Risk Management(April 1996):48–55.
　CHAPTER 33: Risk-Management Programs (Maarten Nederlof)
　　Reprinted from AIMR Conference Proceedings: Risk Management(April 1996):15–24.
　CHAPTER 34: Does Risk Management Add Value? (Charles W.Smithson)
　　Reprinted from AIMR Conference Proceedings: Corporate FinancialDecision Making and Equity Analysis (July 1995):47–53.
　CHAPTER 35: Risk Management and Fiduciary Duties (Robert M.McLaughlin)
　　Reprinted from AIMR Conference Proceedings: Risk Management:Principles and Practices (August 1999):20–31.
　　Global Risk.
　CHAPTER 36: Financial Risk Management in Global Portfolios (R.Charles Tschampion, CFA)
　　Reprinted from AIMR Conference Proceedings: Investing WorldwideVI (January 1996):67–73.
　CHAPTER 37: Universal Hedging: Optimizing Currency Risk and Rewardin International Equity Portfolios (Fischer Black)
　　Reprinted from the Financial Analysts Journal (July/August1989):16–22.
　CHAPTER 38: Strategies for Hedging (Mark P. Kritzman, CFA)
　　Reprinted from AIMR Conference Proceedings: Managing CurrencyRisk (November 1997):28–38.
　CHAPTER 39: Currency Risk Management in Emerging Markets (H.Gifford Fong)
　　Reprinted from AIMR Conference Proceedings: Investing WorldwideVII (September 1996):18–23.
　CHAPTER 40: Managing Geopolitical Risks (Marvin Zonis)
　　Reprinted from CFA Institute Conference Proceedings Quarterly(September 2009):22–29.
　CHAPTER 41: Country Risk in Global Financial Management (Claude B.Erb, CFA, Campbell R. Harvey, and Tadas E. Viskanta)
　　Reprinted from The Research Foundation of CFA Institute (January1998).
　CHAPTER 42: Political Risk in the World Economies (MarvinZonis)
　　Reprinted from AIMR Conference Proceedings: Investing WorldwideVIII: Developments in Global Portfolio Management (September1997):1–6.
　　Nonfi nancial Risk.
　CHAPTER 43: A Behavioral Perspective on Risk Management (Andrew W.Lo)
　　Reprinted from AIMR Conference Proceedings: Risk Management:Principles and Practices (August 1999):32–37.
　CHAPTER 44: Behavioral Risk: Anecdotes and Disturbing Evidence(Arnold S. Wood)
　　Reprinted from AIMR Conference Proceedings: Investing WorldwideVI (January 1996):74–78.
　CHAPTER 45: The Ten Commandments of Operational Due Diligence(Robert P. Swan III)
　　Reprinted from CFA Institute Conference Proceedings: Challengesand Innovation in Hedge Fund Management (August 2004):47–52.
　CHAPTER 46: Models (Emanuel Derman)
　　Reprinted from the Financial Analysts Journal (January/February2009):28–33.
　CHAPTER 47: The Use and Misuse of Models in Investment Management(Douglas T. Breeden)
　　Reprinted from CFA Institute Conference Proceedings Quarterly(December 2009): 36–45.
　CHAPTER 48: Regulating Financial Markets: Protecting Us fromOurselves and Others (Meir Statman)
　　Reprinted from the Financial Analysts Journal (May/June2009):22–31.
　　Pension Risk.
　CHAPTER 49: Budgeting and Monitoring Pension Fund Risk (William F.Sharpe)
　　Reprinted from the Financial Analysts Journal (September/October2002):74–86.
　CHAPTER 50: The Plan Sponsor's Perspective on Risk ManagementPrograms (Desmond M...