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The Vega Factor: Oil Volatility and the Next Global Crisis by Kent Moors ➤ Wiley 2011 1st Edition
The Vega Factor: Oil Volatility and the Next Global Crisis by Kent Moors John Wiley & Sons Inc, 2011 First Edition
Title: The Vega Factor: Oil Volatility and the Next Global Crisis
Author: Kent Moors
Format: Hardcover
Publisher: John Wiley & Sons Inc, 2011
Edition: First Edition
ISBN: 9780470602089
Size: 6.25 X 9.25 X 1.4 * 431 pages
Synopsis: From the jacket: There is a sleeping dragon at the heart of the financial system. Soon the beast will awake and rear its terrible head, and we will look back on the days of the subprime disaster with nostalgia. In this riveting book by oil industry expert Kent Moors, you will meet the dragon he refers to as oil vega, and you'll discover why it poses such a grave threat to world economic and political stability.
Those familiar with the options and currency markets will recognize vega as the term traders use to denote the rate of price volatility. Expanding upon that traditional usage, Moors coined the expression oil vega to describe the dramatic increase of price volatility seen in the oil markets over the past several years. In The Vega Factor, he describes how, contrary to popular belief, the current environment of runaway volatility in the markets is not the work of diminishing reserves, manipulation by oil producing nations, or increased competition among nations. Rather, it is a result of a structural flaw in the trading system itself.
Oil futures contracts, Moors explains, while once a valuable source of liquidity and price stability, have exceeded their historic mandate, leading to an upending of the traditional relationship between "wet barrels" and "paper barrels." With oil now as much a financial asset as a commodity, and an oil derivatives market currently worth thousands of times more than the world's combined oil reserves, a perverse dynamic has evolved in which the price of crude chases the price of paper barrels in a race it can never win. In some of the most gripping passages of the book, Moors considers the global mayhem and destruction that will likely result from an ongoing failure by policymakers and industry to peg the value of oil-literally the fuel that drives industrialized economies-to anything more tangible than the greed, fear, and superstition of financial speculators.
In the closing chapters of The Vega Factor, Moors explores ways in which oil companies, governments, and traders must revise their priorities vis-Ã -vis oil, as well as the radically new strategic understanding of energy that will be required if we are to meet market realities in an age of oil vega. He also suggests steps consumers and investors can take to protect them- selves against the depredations of oil price volatility.
We live in a world where the quality of everyone's life and the economic stability of every nation are directly tied to the price of oil. Read The Vega Factor and get to know the face of the dragon that even now is beginning to stir at the heart of global financial systems.
Overall Condition: Gently read book in a fine jacket.
Secure shipping bubble-wrapped in a new box.
2026--U.S. shipping for this (Two Pounds Media Mail) is $5.22 with tracking.
Multiple items will be combined for the lowest shipping price.
International Shipping cost is based on the destination so inquire before buying. Mobile users must scroll to the bottom and click on 'use desktop site' to bring up the Ask a Question link which sends me an email.
(PLEASE CONTACT ME BEFORE MAKING ANY PAYMENT FROM OUTSIDE THE U.S.)
==========================================================================================================================
Just about all the books are USED books. Some have been used more gently than others. Some have been in libraries and have typical library extras. Some are so old and/or interesting that they are being offered for the sake of preservation regardless of the condition they are in. If the condition of the book is very important to you, please feel free to click the 'Ask seller a question' link and I will tell you more.
=========================================================================================
Title: The Vega Factor: Oil Volatility and the Next Global Crisis
Author: Kent Moors
Format: Hardcover
Publisher: John Wiley & Sons Inc, 2011
Edition: First Edition
ISBN: 9780470602089
Size: 6.25 X 9.25 X 1.4 * 431 pages
Synopsis: From the jacket: There is a sleeping dragon at the heart of the financial system. Soon the beast will awake and rear its terrible head, and we will look back on the days of the subprime disaster with nostalgia. In this riveting book by oil industry expert Kent Moors, you will meet the dragon he refers to as oil vega, and you'll discover why it poses such a grave threat to world economic and political stability.
Those familiar with the options and currency markets will recognize vega as the term traders use to denote the rate of price volatility. Expanding upon that traditional usage, Moors coined the expression oil vega to describe the dramatic increase of price volatility seen in the oil markets over the past several years. In The Vega Factor, he describes how, contrary to popular belief, the current environment of runaway volatility in the markets is not the work of diminishing reserves, manipulation by oil producing nations, or increased competition among nations. Rather, it is a result of a structural flaw in the trading system itself.
Oil futures contracts, Moors explains, while once a valuable source of liquidity and price stability, have exceeded their historic mandate, leading to an upending of the traditional relationship between "wet barrels" and "paper barrels." With oil now as much a financial asset as a commodity, and an oil derivatives market currently worth thousands of times more than the world's combined oil reserves, a perverse dynamic has evolved in which the price of crude chases the price of paper barrels in a race it can never win. In some of the most gripping passages of the book, Moors considers the global mayhem and destruction that will likely result from an ongoing failure by policymakers and industry to peg the value of oil-literally the fuel that drives industrialized economies-to anything more tangible than the greed, fear, and superstition of financial speculators.
In the closing chapters of The Vega Factor, Moors explores ways in which oil companies, governments, and traders must revise their priorities vis-Ã -vis oil, as well as the radically new strategic understanding of energy that will be required if we are to meet market realities in an age of oil vega. He also suggests steps consumers and investors can take to protect them- selves against the depredations of oil price volatility.
We live in a world where the quality of everyone's life and the economic stability of every nation are directly tied to the price of oil. Read The Vega Factor and get to know the face of the dragon that even now is beginning to stir at the heart of global financial systems.
Overall Condition: Gently read book in a fine jacket.
Secure shipping bubble-wrapped in a new box.
2026--U.S. shipping for this (Two Pounds Media Mail) is $5.22 with tracking.
Multiple items will be combined for the lowest shipping price.
International Shipping cost is based on the destination so inquire before buying. Mobile users must scroll to the bottom and click on 'use desktop site' to bring up the Ask a Question link which sends me an email.
(PLEASE CONTACT ME BEFORE MAKING ANY PAYMENT FROM OUTSIDE THE U.S.)
==========================================================================================================================
Just about all the books are USED books. Some have been used more gently than others. Some have been in libraries and have typical library extras. Some are so old and/or interesting that they are being offered for the sake of preservation regardless of the condition they are in. If the condition of the book is very important to you, please feel free to click the 'Ask seller a question' link and I will tell you more.
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