Saturday, April 26, 2014

New Iris Mack Book on Energy

Iris emails:
Attached is the publisher's marketing flyer for my new energy book, Energy Trading and Risk Management: A Practical Approach to Hedging, Trading and Portfolio Diversification

 BTW, the textbook, for my 2 fall MBA courses that I am teaching at Tulane Energy Institute, is my new book!
From the book's blurb:
 Energy Trading and Risk Management: provides a comprehensive overview of global energy markets from one of the foremost authorities on energy derivatives and quantitative finance. With an approachable writing style, Iris Mack breaks down the three primary applications for energy derivatives markets – Risk Management, Speculation, and Investment Portfolio Diversification – in a way that hedge fund traders, consultants, and energy market participants can apply in their day to day trading activities.

Moving from the fundamentals of energy markets through simple and complex derivatives trading, hedging strategies, and industry-specific case studies, Dr. Mack walks readers through energy trading and risk management concepts at an instructive pace, supporting her explanations with real-world examples, illustrations, charts, and precise definitions of important and often-misunderstood terms.

From stochastic pricing models for exotic derivatives, to modern portfolio theory (MPT), energy portfolio management (EPM), to case studies dealing specifically with risk management challenges unique to wind and hydro-electric power, the bookguides readers through the complex world of energy trading and risk management to help investors, executives, and energy professionals ensure profitability and optimal risk mitigation in every market climate.

For those who may not recall, Iris manged to climb from the back streets of New Orleans to get a a PhD in applied mathematics from Harvard. She moved on to Harvard Management Corporation, where she warned then-Harvard president Larry Summers that HMC was applying some very risky interest rate trading strategies in the portfolio of the Harvard endowment fund.. She was fired for the warnings, but later the trading strategy blew up exactly the way she said it would. (SEE: Is a Big Problem Brewing for Larry Summers?)

Iris was also an early supporter of Ron Paul. (SEE: Iris Mack Blog Crashes on Ron Paul Endorsement)

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