《金融学教学课件》bodie2e_chapter10复习课程.pptVIP

Copyright ? 2009 Pearson Education, Inc. Publishing as Prentice Hall Insuring Insuring is the payment of a premium to avoid losses Insurance is not hedging because you maintain ownership in the upside potential A farmer has the right, but not the obligation to sell soy to the government at a set price Hedge vs. insurance Hedge: forward contracts A forward contract is an agreement to buy or sell an asset (commodity, currency, stock or stock index) at a certain time in the future for a certain price (the delivery price) Insurance: options A call option is an option to buy a certain asset by