Investor Behavior In The Market For Bank Issued Structured Products
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| Author | : Sebastian Schroff |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2020 |
| Genre | : Business & Economics |
| ISBN | : 9783896446961 |
This work investigates the trading behavior of retail investors in the largest European market place for bank-issued structured products - the European Warrant Exchange (EUWAX). Structured products are designed to grant retail investors access to a broad range of risk-return combinations, ranging from conservative investment products to high-risk leverage products. The focus of the analysis is on the question, how retail investors react to new information and which sources are taken into account when speculating and investing.The key finding is that retail investors actively trade on information, but their trading behavior exhibits various behavioral biases and irrational trading patterns such as herding, overconfidence as well as excessive optimism and risk-taking.In sum, the informational efficiency of retail investor trading in structured products is limited, which underscores the demand for increased efforts by policy makers and financial institutions to improve the financial literacy of retail investors.
| Author | : Andreas Bluemke |
| Publisher | : John Wiley & Sons |
| Total Pages | : 605 |
| Release | : 2009-11-03 |
| Genre | : Business & Economics |
| ISBN | : 0470684879 |
This book is essential in understanding, investing and risk managing the holy grail of investments - structured products. The book begins by introducing structured products by way of a basic guide so that readers will be able to understand a payoff graphic, read a termsheet or assess a payoff formula, before moving on to the key asset classes and their peculiarities. Readers will then move on to the more advanced subjects such as structured products construction and behaviour during their lifetime. It also explains how to avoid important pitfalls in products across all asset classes, pitfalls that have led to huge losses over recent years, including detailed coverage of counterparty risk, the fall of Lehman Brothers and other key aspects of the financial crisis related to structured products. The second part of the book presents an original approach to implementing structured products in a portfolio. Key features include: A comprehensive list of factors an investor needs to take into consideration before investing. This makes it a great help to any buyer of structured products; Unbiased advice on product investments across several asset classes: equities, fixed income, foreign exchange and commodities; Guidance on how to implement structured products in a portfolio context; A comprehensive questionnaire that will help investors to define their own investment preferences, allowing for a greater precision when facing investment decisions; An original approach determining the typical distribution of returns for major product types, essential for product classification and optimal portfolio implementation purposes; Written in a fresh, clear and understandable style, with many figures illustrating the products and very little mathematics. This book will enable you to better comprehend the use of structured products in everyday banking, quickly analyzing a product, assessing which of your clients it suits, and recognizing its major pitfalls. You will be able to see the added value versus the cost of a product and if the payoff is compatible with the market expectations.
| Author | : Brian P. Lancaster |
| Publisher | : John Wiley & Sons |
| Total Pages | : 545 |
| Release | : 2008-06-20 |
| Genre | : Business & Economics |
| ISBN | : 047036923X |
Filled with the insights of numerous experienced contributors, Structured Products and Related Credit Derivatives takes a detailed look at the various aspects of structured assets and credit derivatives. Written over a period spanning the greatest bull market in structured products history to arguably its most challenging period, this reliable resource will help you identify the opportunities and mitigate the risks in this complex financial market.
| Author | : Frank J. Fabozzi |
| Publisher | : John Wiley & Sons |
| Total Pages | : 544 |
| Release | : 1998-09-15 |
| Genre | : Business & Economics |
| ISBN | : 9781883249434 |
Finance professionals will welcome Frank Fabozzi's Handbook of Structured Finance Products. This one-of-a-kind guide helps you stay on top of continuing developments in the U.S. structured finance product field-as well as developments concerning these products in overseas markets. Here, Fabozzi assembles a roster of highly regarded professionals who provide their findings and opinions on a multitude of investment subjects.
| Author | : Jennifer E. Bethel |
| Publisher | : |
| Total Pages | : 33 |
| Release | : 2008 |
| Genre | : |
| ISBN | : |
The structured products market has experienced explosive growth in the United States over the last five years. The market is expected to continue growing 20%-25% each year, given the still comparatively small size of the U.S. market and the expected increase in demand for fixed-income type investments by retiring baby-boomers. While often performing an invaluable role in facilitating the transfer of risk and improving the ability of investors to more fully diversify their portfolios, these products also raise important investor protection concerns. Investment banks are increasingly offering structured products to retail investors through their broker networks. Whether retail investors adequately understand the complicated payoff structure of these products, which often include embedded options, and the implicit fees being charged for these products is the source of these investor protection concerns. The illiquidity of most structured products, including even listed ones, heightens these concerns. The current regulation of structured products and possible reforms are examined with these investor protection concerns in mind.
| Author | : Roberto Knop |
| Publisher | : Wiley |
| Total Pages | : 0 |
| Release | : 2002-02-15 |
| Genre | : Business & Economics |
| ISBN | : 9780471486473 |
Over the past decade there has been a great escalation in thesophistication of the financial markets and technology and as a result many newderivatives products have been developed. Structured Products offers practical details on the mainstructured products developed over the last ten years. The booklooks in detail at the risks, valuation and key elements of eachstructured product in turn. It explains the basic principles andunderlying philosophies behind the concept giving investors athrough understanding of each product in a conceptual and practicalway.
| Author | : H. Kent Baker |
| Publisher | : Emerald Group Publishing |
| Total Pages | : 447 |
| Release | : 2017-03-20 |
| Genre | : Business & Economics |
| ISBN | : 1787142531 |
Investment Traps Exposed helps investors and investment practitioners increase their awareness about the external and internal traps that they or their clients can encounter.
| Author | : Jerome Yen |
| Publisher | : Routledge |
| Total Pages | : 161 |
| Release | : 2014-11-27 |
| Genre | : Business & Economics |
| ISBN | : 1317638883 |
Exotic options and structured products are two of the most popular financial products over the past ten years and will soon become very important to the emerging markets, especially China. This book first discusses the products' recent development in the world and provides comprehensive overview of the major products. The book also discusses the risks of issuing and buying such products as well as the techniques to price them and to assess the risks. Volatility is the most important factor in determining the return and risk. Therefore, significant part of the book's content discusses how we can measure the volatility by using local and stochastic volatility models — Heston Model and Dupire Model, the volatility surface, the term structure of volatility, variance swaps, and breakeven volatility. The book introduces a set of dimensions which can be used to describe structured products to help readers to classify them. It also describes the more commonly traded exotic options with details. The book discusses key features of each exotic option which can be used to develop structured products and covers their pricing models and when to issue such products that contain such exotic options. This book contains several case studies about how to use the models or techniques to price and hedge risks. These case analyses are illuminating.
| Author | : Frank J. Fabozzi |
| Publisher | : |
| Total Pages | : |
| Release | : 2005 |
| Genre | : |
| ISBN | : |
The largest sector of the U.S. investment-grade fixed-income market is structured products - mortgage-backed securities and asset-backed securities. Issues and challenges currently facing investors who participate in this market sector include legal issues (e.g., consumer lending legislation), market structure (e.g., the role of the government-sponsored enterprises), and analytical methods (e.g., prepayment modeling). An important current concern is the need for education and training in the structured products area - particularly for investment policy compliance staff and for equity analysts.
| Author | : Tobias Stuber |
| Publisher | : Herbert Utz Verlag |
| Total Pages | : 264 |
| Release | : 2011 |
| Genre | : |
| ISBN | : 3831640114 |
