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Butterworth-Heinemann

  • Managing Downside Risk in Financial Markets

    • 1st Edition
    • Frank A. Sortino + 1 more
    • English
    Quantitative methods have revolutionized the area of trading, regulation, risk management, portfolio construction, asset pricing and treasury activities, and governmental activity such as central banking to name but some of the applications. Downside-risk, as a quantitative method, is an accurate measurement of investment risk, because it captures the risk of not accomplishing the investor's goal.'Downside Risk in Financial Markets' demonstrates how downside-risk can produce better results in performance measurement and asset allocation than variance modelling. Theory, as well as the practical issues involved in its implementation, is covered and the arguments put forward emphatically show the superiority of downside risk models to variance models in terms of risk measurement and decision making. Variance considers all uncertainty to be risky. Downside-risk only considers returns below that needed to accomplish the investor's goal, to be risky.Risk is one of the biggest issues facing the financial markets today. 'Downside Risk in Financial Markets' outlines the major issues for Investment Managers and focuses on "downside-risk" as a key activity in managing risk in investment/portfolio management. Managing risk is now THE paramount topic within the financial sector and recurring losses through the 1990s has shocked financial institutions into placing much greater emphasis on risk management and control.Free Software Enclosed To help you implement the knowledge you will gain from reading this book, a CD is enclosed that contains free software programs that were previously only available to institutional investors under special licensing agreement to The pension Research Institute. This is our contribution to the advancement of professionalism in portfolio management.The Forsey-Sortino model is an executable program that:1. Runs on any PC without the need of any additional software.2. Uses the bootstrap procedure developed by Dr. Bradley Effron at Stanford University to uncover what could have happened, instead of relying only on what did happen in the past. This is the best procedure we know of for describing the nature of uncertainty in financial markets. 3. Fits a three parameter lognormal distribution to the bootstrapped data to allow downside risk to be calculated from a continuous distribution. This improves the efficacy of the downside risk estimates.4. Calculates upside potential and downside risk from monthly returns on any portfolio manager. 5. Calculates upside potential and downside risk from any user defined distribution.Forsey-... Source Code:1. The source code, written in Visual Basic 5.0, is provided for institutional investors who want to add these calculations to their existing financial services. 2. No royalties are required for this source code, providing institutions inform clients of the source of these calculations. A growing number of services are now calculating downside risk in a manner that we are not comfortable with. Therefore, we want investors to know when downside risk and upside potential are calculated in accordance with the methodology described in this book. Riddles Spreadsheet:1. Neil Riddles, former Senior Vice President and Director of Performance Analysis at Templeton Global Advisors, now COO at Hansberger Global Advisors Inc., offers a free spreadsheet in excel format.2. The spreadsheet calculates downside risk and upside potential relative to the returns on an index

  • Pipe Drafting and Design

    • 2nd Edition
    • Roy A. Parisher
    • English
    Pipe designers and drafters provide thousands of piping drawings used in the layout of industrial and other facilities. The layouts must comply with safety codes, government standards, client specifications, budget, and start-up date. Pipe Drafting and Design, Second Edition provides step-by-step instructions to walk pipe designers and drafters and students in Engineering Design Graphics and Engineering Technology through the creation of piping arrangement and isometric drawings using symbols for fittings, flanges, valves, and mechanical equipment. The book is appropriate primarily for pipe design in the petrochemical industry. More than 350 illustrations and photographs provide examples and visual instructions. A unique feature is the systematic arrangement of drawings that begins with the layout of the structural foundations of a facility and continues through to the development of a 3-D model. Advanced chapters discuss the customization of AutoCAD, AutoLISP and details on the use of third-party software to create 3-D models from which elevation, section and isometric drawings are extracted including bills of material.

  • Safety and Health Essentials

    OSHA Compliance for Small Businesses
    • 1st Edition
    • William Martin + 1 more
    • English
    Safety and Health Essentials is the leading introductory guide to industrial safety and health. Written by a team of specialist contributors, under the editorship of William Martin, the book covers all aspects of safety management and will be a companion to the more detailed treatment found in Industrial Safety & Hygiene Handbooks.The book is most useful to small companies that do not have or cannot afford a full-time safety officer and to business managers and human resources staff who have responsibilities for health and safety issues in the workplace. The book will cover all the most recent developments in health and safety laws, standards, techniques, and practices.

  • Industrial Waste Treatment Handbook

    • 1st Edition
    • Frank Woodard
    • English
    All industries produce waste products that unless treated or mitigated in some way will be harmful to the human or natural environment. These waste products will generally need to be identified according to the industrial process in question, neutralized or rendered less harmful and finally disposed of into the surrounding land, air or watercourses. It is therefore of vital importance to every environmental, pollution or plant manager or engineer that these processes be fully understood and implemented or the cost to either the company or the environment can be catastrophic.With increasing government regulation of pollution, as well as willingness to levy punitive fines for transgressions, and the ever-present financial imperative to carry out these activities in the most efficient and cost-effective manner it is the responsibility of the professionals in question to ensure that they have the most up-to-date information available at their disposal. This book provides not only that, but the only available methodology for identifying which waste types are produced from which industrial processes, and how they can be treated. This unique feature makes this book one that every environmental, industrial and plant manager, engineer and consultant will want to have on their bookshelf.

  • Modal Analysis

    • 1st Edition
    • Zhi-Fang Fu + 1 more
    • English
    Modal Analysis provides a detailed overview of the theory of analytical and experimental modal analysis and its applications. Modal Analysis is the processes of determining the inherent dynamic characteristics of any system and using them to formulate a mathematical model of the dynamic behavior of the system. In the past two decades it has become a major technological tool in the quest for determining, improving and optimizing dynamic characteristics of engineering structures. Its main application is in mechanical and aeronautical engineering, but it is also gaining widespread use in civil and structural engineering, biomechanical problems, space structures, acoustic instruments and nuclear engineering.

  • Design for Manufacturing

    A Structured Approach
    • 1st Edition
    • Corrado Poli
    • English
    Design for Manufacturing assists anyone not familiar with various manufacturing processes in better visualizing and understanding the relationship between part design and the ease or difficulty of producing the part. Decisions made during the early conceptual stages of design have a great effect on subsequent stages. In fact, quite often more than 70% of the manufacturing cost of a product is determined at this conceptual stage, yet manufacturing is not involved. Through this book, designers will gain insight that will allow them to assess the impact of their proposed design on manufacturing difficulty. The vast majority of components found in commercial batch-manufactured products, such as appliances, computers and office automation equipment are either injection molded, stamped, die cast, or (occasionally) forged. This book emphasizes these particular, most commonly implemented processes. In addition to chapters on these processes, the book touches upon material process selection, general guidelines for determining whether several components should be combined into a single component or not, communications, the physical and mechanical properties of materials, tolerances, and inspection and quality control. In developing the DFM methods presented in this book, he has worked with over 30 firms specializing in injection molding, die-casting, forging and stamping.

  • Foundry Technology

    • 2nd Edition
    • Peter Beeley
    • English
    Foundry Technology brings together basic metal casting phenomena, foundry techniques and product characteristics in a single work of reference. Peter Beeley was a foundry manager before he became a senior lecturer in metallurgy, and subsequently maintained continuous links with the castings industry and associated research activities and publications. His book is designed to serve as a bridge between the study of the basic principles of metal founding and their application in the producing and user industries. A particular aim of Foundry Technology is to assist engineers and engineering students in appreciating the role of castings in design and materials selection. Orthodox and specialized casting processes, and both ferrous and non-ferrous founding are considered on a comparative basis, and the place of castings in design is critically examined and related to other products. The revised edition takes account of the main changes in casting processes and products since the publication of the original edition in 1972. While retaining treatments of basic aspects of molding, solidification, cast structures and feeding, newer developments in modeling and rapid prototyping are reviewed, together with quality, environmental, health and other issues of growing importance.

  • Ocean Circulation

    • 2nd Edition
    • Open Open University
    • English
    This second edition retains the general structure of the first edition, buthas been updated in the light of recent oceanographic research, and improvedas a teaching text on the basis of feedback from past students and otherreaders.Notable additions include new sections addressing the topic ofnumerical modelling, and more discussion of natural oscillations in theocean-atmosphere system (previously confined to the El Niño phenomenon). Inparticular, the Chapter on the North Atlantic now includes a discussion ofthe North Atlantic Oscillation, as well as of the Great Salinity Anomaly. Inthe final Chapter, treatment of water mass formation has been updated toreflect recent ideas about the processes involved and how they relate toclimatic change over different time-scales, from decades to millennia.

  • Analog Circuit Techniques

    With Digital Interfacing
    • 1st Edition
    • T. H. Wilmshurst
    • English
    Analog Circuit Techniques uses an analytical approach, backed up with numerous experimental exercises and worked examples. It is designed to deliver the core content of a three year degree course in a single volume, which makes it an ideal core adoption text, and an essential reference text for a wide range of students. A comprehensive analog electronics text for first degrees and conversion courses. Dr Wilmshurst has drawn on his experience running an MSc conversion and other courses to produce this single volume text which covers all the analog electronics needed in a wide range of higher education programmes: first degrees in electronic engineering, experimental science courses, MSc electronics and electronics units for HNDs. The chapter on audio amplifiers includes an invaluable example of the application of SPICE simulation.

  • Ethical Issues in Advanced Nursing Practice

    • 1st Edition
    • Karen Bartter
    • English
    Nursing staff of many specialities are taking on and developing their roles in new and advanced practice areas. Patients will be offered new services from highly skilled advanced nurse practitioners. Such nurses need guidance, direction and information to assist them in their new roles. This book will offer insight and guidance on a variety of issues that are likely to be encountered by the Nurse Practitioner in everyday practice.

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