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Introduction

In: Hands-On Value-at-Risk and Expected Shortfall

Author

Listed:
  • Martin Auer

    (Raiffeisen Bank International)

Abstract

Financial markets let people trade promises of future payments. These payment promises are called financial assets. asset Prominent examples are bonds or company stocks. A bond bond is a way to borrow money, and it promises its buyer a future debt repayment with interest. Stock stock is used to raise capital and promises its holder future dividend payments. In addition to those, many other types of assets exist, but at their core they all are tradable contractual claims on future cash flows. Supply and demand determine the prices at which to buy or sell them—the prices at which to enter positions. position

Suggested Citation

  • Martin Auer, 2018. "Introduction," Management for Professionals, in: Hands-On Value-at-Risk and Expected Shortfall, chapter 1, pages 1-2, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-319-72320-4_1
    DOI: 10.1007/978-3-319-72320-4_1
    as

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