Facing Up to the Risks: How Financial Institutions Can Survive and Prosper - Rilegato

Casserley, Dominic

Rilegato

ISBN 10: 0471592196 ISBN 13: 9780471592198

Casa editrice: John Wiley & Sons Inc, 1993

Riassunto

Tried-and-tested methods for financial institution success in a risky economy Written by a partner of McKinsey & Company, the world's largest and most influential management consulting firm, this book offers wisdom from the cumulative experience of thousands of financial firms in successful risk management. You'll find out how to make these winning strategies work for your company's success and learn what you must know to cope with the uncertainties of tomorrow's headlines. Facing Up to the Risks:
* Covers the ramifications of the S & L debacle, the Third World debt crisis, the fall of the Iron Curtain, and other major events with an impact on the financial community
* Provides four critical skills that can make or break a financial firm and five proven strategies for successful risk management
* Based on a major research project, on years of international consulting experience, and on contributions from over 40 experts around the globe
Facing Up to the Risks shows you how to embrace today's risks in ways that will help your company prosper and flourish in the '90s.

Su questo libro

L'autore

About the author DOMINIC CASSERLEY is a partner in the New York office of McKinsey & Company He served on the Brady Commission which reviewed the causes of the 1987 stock market crash. Born in London, he holds an MA in history from Cambridge University He lives in Greenwich with his wife Nancy and sons Edward and Henry

Dalla seconda/terza di copertina

Facing Up to The Risks How Financial Institutions Can Survive and Prosper In the financial world, survival, let alone profitability, is no longer a given. The risks facing banks, thrifts, brokerages, insurance companies, and traders are plain for all to see. However, within risks lie rewards. Facing Up to the Risks explains why somewhere in the world nearly every day brings news of another bank, crippled insurance company or busted brokerage laid low by lax vending, swamped by unprofitable business or even mired in scandal. It explores through vivid case studies and colorful anecdotes how financial firms of all types can not only avoid disaster, but grow and prosper as well. Casserley argues that the continuing carnage in the financial world can be traced to the fact that financial firms have forgotten that they are fundamentally different from all other businesses. They must seek out risk and embrace it if they are to grow and prosper. To do this, they must master three basic skills:

• Valuation, to assess the degree and duration of risk
• Flexibility, to seize fleeting profit opportunities and changes as markets change
• Resilience, to endure the inevitable catastrophics that are part of life in the volatile financial world

These skills can then be combined, with varying emphasis and proportion, into one of five strategies:

• Segmentation, often used by credit card and insurance companies as they separate good risks from bad
• Insider, where financiers try to get "inside" a risk to gain advantage as in venture capital or leveraged buy outs
• Technical, where traders, often in derivative markets, use advanced math and computers to predict securities prices
• Inference, where investors attempt to deduce future stock and bond prices from deep analysis of markets and companies
• Scale, where competitors try to win in markets by being larger than their foes

The depiction of these strategies in action, from formulation through fruition is the heart of this essential and provocative book.

Su questa edizione

• Editore: John Wiley & Sons Inc
• Data di pubblicazione: 1993
• ISBN 10: 0471592196
• ISBN 13: 9780471592198
• Rilegatura: Copertina rigida
• Numero di pagine: 323