1.风险管理与金融衍生品.pptVIP

liang_jin@mail.tongji.edu.cn Chapter 1 Risk Risk - uncertainty of the outcome bring unexpected gains cause unforeseen losses Risks in Financial Market asset (stocks, …), interest rate, foreign exchange, credit, commodity, ………… Two attitudes toward risks Risk aversion Risk seeking Financial Derivatives Many forms of financial derivatives instruments exist in the financial markets. Among them, the 3 most fundamental financial derivatives instruments: Forward contracts Future Options If the underlying assets are stocks, bonds etc., then the corresponding risk management instruments are