currency-hedging Books

I work in the securities industry, and this book accurately described the markets and products without the detailed mathematics. I would recommend this book as a first reading before the Hull and White book which is much more mathematical.

Too bad it's out of print. I'd like everyone in my group to have a copy.

I consider the book a perfect guide written by a professional for professionals. If you are looking for scientific completeness and complication, go somewhere else. If you are looking for a competent down-to-earth reference, this is your book. I wonder when the third edition of this valuable tool will be published.

DeRosa has picked excellent papers. If one reads the papers in detail, the currency derivatives literature, as well as related derivatives literature, becomes very easy to understand.

This book presents highly technical papers on diverse topics from variuous academics. It would be very helpful to anyone looking to understand theoretical aspects of FX derivatives. Since most papers are written by different authors, notation is not consistent. In addition, academics do not always write like Hemingway. Nevertheless, the book covers everyhting from vanillas to exotics very well.

I was looking for a book on foreign currency strategy well suited for readers with MBAs or degrees in economics - people not afraid to delve into the theory, but not necessarily well-versed in this particular topic. The "Wiley Finance" imprint usually does a good job of exactly this - a thorough serious treatment of a subject, but without differential equations. However, this book was too basic. It breezed by the theory at 10,000 feet with few references to academic papers/studies that could take you farther. Also, the book was poorly edited (shame -it is a 2nd edition) with repetition, rambling and grammatical errors. Callum Henderson clearly knows his subject, but demands too little of his readers and was not helped by his editors. That said, there are few alternatives on the subject that aren't trading books replete with technical analysis or thick academic tomes that are aimed at shaping public policy rather than informing market participants. So read the book and get what you can out of it.

This is a good introduction to exchange rate determination in theory and in practice. Useful for someone with a little bit of background into economics or exchange rates who wants to delve a bit more. It is slightly frustrating in that the theories are explained but little is provided in terms of whether the evidence shows it works or not. It also lacks adequate references.

One outstanding feature of this book, and indeed a lot of work by this author, is that it moves beyond just exchange rate forecasting into the realm of exchange rate risk management and other issues pertinent to those who deal in this space.

As a professional trader who deals with the ups and downs of the FX market from Monday to Friday for years, particularly with the extreme volatility of USD from last October till now, I am obliged to comment that the book is of little practical/predictive use. Unless you really wanna study academic theories about FX like different kinds of exchange rate regime or exchange rate model (which seldom held themselves), or get reasons to hedge your exposure "completely" for your company's or your own investment portfolio, please give this book a pass.

If you're a hedge fund manager I think might be the right book for you. There is a lot of information for the individual but it doesn't seem to come together in the end. The book makes many good points about the use of fundamental as well as technical analysis. But the fundamental data is mentioned but Sources are not included. I've spent to hours and hours trying to locate the data.

In 1971, President Richard Nixon ended the convertibility of the dollar into gold and thereby scotched the mechanism of international agreements and regulations that had governed the world monetary system since the end of World War II. Over the ensuing decades, the once-stable global monetary environment became an exciting, volatile new source of risk and opportunity. Manufacturers saw their fortunes rise and fall as currency shifts favored them or, alternatively, their competitors overseas. Financial institutions discovered new opportunities and dangers in fast-moving currency markets. We recommend this book for its detailed and generally clear, albeit often tedious, introduction to the tools, techniques and strategies readers may use to manage risk or speculate in the world's biggest financial arena - the unregulated international currency market.

Somehow, Mr. Zask manages to take all the excitment out of the facinating topic of global investment risk management. Keep plenty of water or one of one of your favorite beverages handy... This book has the power to dehydrate. Stack some fruit on top of it overnight for a tasty and non-perishable treat! Homemade fruit leather anyone?

This volume offers an excellent group of papers that address all aspects of international investment risk management. The contributors are uniformly excellent, knowledgeable and their chaper well written. The coverage of equities, currencies, interest rates is excellent. The papers cover all the world's regions inlcuding emerging and developed markets. Finally, the tools covered, including options and value-at-risk, are written from a practitioners viewpoint. Should be read by anyone interesgted in international investments.

There are better books out there to spend your money on. The copy I have was printed in 1993 and a lot of things have changed since this first edition.

It is useless for individual traders.

You would be better off to buy John Murphy's books; Mark Douglas' books and John L. Person's book.

Just my humble opinion.

Good book for a feel on cross-rates. Unfortunately written before the advent of the EURO, therefore partially osolete nowadays.