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A hands-on guide to navigating the new fuel markets Fuel Hedging and Risk Management: Strategies for Airlines, Shippers and Other Consumers provides a clear and practical understanding of commodity price dynamics, key fuel hedging techniques, and risk management strategies for the corporate fuel consumer. It covers the commodity markets and derivative instruments in a manner accessible to corporate treasurers, financial officers, risk managers, commodity traders, structurers, as well as quantitative professionals dealing in the energy markets. The book includes a wide variety of key topics related to commodities and derivatives markets, financial risk analysis of commodity consumers, hedge program design and implementation, vanilla derivatives and exotic hedging products. The book is unique in providing intuitive guidance on understanding the dynamics of forward curves and volatility term structure for commodities, fuel derivatives valuation and counterparty risk concepts such as CVA, DVA and FVA. Fully up-to-date and relevant, this book includes comprehensive case studies that illustrate the hedging process from conception to execution and monitoring of hedges in diverse situations. This practical guide will help the reader: Gain expert insight into all aspects of fuel hedging, price and volatility drivers and dynamics. Develop a framework for financial risk analysis and hedge programs. Navigate volatile energy markets by employing effective risk management techniques. Manage unwanted risks associated with commodity derivatives by understanding liquidity and credit risk calculations, exposure optimization techniques, credit charges such as CVA, DVA, FVA, etc. Praise for Fuel Hedging and Risk Management «Risk Management is an art, not a science, but it certainly helps to know a lot of science. In this book, the authors provide an excellent overview of both qualitative and quantitative aspects of risk management and how to design and implement effective win-win fuel oil hedging strategies that will achieve the desired objectives under normal and extreme market conditions. In addition to discussing key foundational issues, the book also discusses a framework to understand and manage hugely important second-order effects, such as credit risk or margin calls or asset-liability mismatches, which have the potential to turn a good idea into a bad outcome. A must read for anyone in the finance department of a corporate, trade house, or financial firm involved in fuel oil hedging.» —Diego Parrilla, Former Global Head of Commodity Solutions and Head of Commodities, Bank of America «This book provides highly useful insights into hedging and risk management methodologies, as well as theory, for the users of energy products. Dafir provides intuition stemming from not just top-tier commodity structuring expertise, but also broader insight from his earlier experience as a credit derivatives and exotics trader.» —Mitch Matharu, former Head of Structuring, Merrill Lynch «An Absolute Must Read. From the fundamentals of oil markets to the key points in negotiating a credit agreement and minimizing hedging costs, passing by the subtleties of implied volatility surface construction and its implications in derivatives pricing, this book offers you the indispensable practitioner's toolbox, useful whether you are a novice or a seasoned fuel trader.» —Frederic Cogny, Global Head of Commodities Structured Products Trading, Standard Chartered Bank «In this book, Dafir blends his deep knowledge of the commodity markets and the vagaries of the financial market with his incredible mathematical ability to explore fuel hedging in a manner accessible to Fuel Procurement Departments, CFOs and board members.» —Mark Lo

Professional investors have long understood the importance of bonds in a successful portfolio strategy. Now you can too. That's because Wall Street bond expert Michael Brandes takes a unique approach to this complex subject—he makes it simple. In Naked Guide to Bonds: What You Need to Know, Stripped Down to the Bare Essentials, technical jargon and complicated subject matter are translated into a straightforward, easy-to-read style with plenty of examples. What's more, rather than writing an all-inclusive book on the bond market, Brandes uses his expertise to eliminate the information that is not relevant to individual investors. The result is a practical and succinct guide that empowers you to make informed investment decisions. Naked Guide to Bonds is written so that each chapter builds upon the information that precedes it. That way you'll never be thrown for a loop. It begins with basic questions such as: Who issues bonds, and why? And how are bonds bought and sold? Then you'll learn about the structure of these securities and the characteristics that distinguish them from stocks. Once you're armed with the fundamentals, you'll discover how inflation, interest rates, and changes in the economy impact bond prices. Naked Guide to Bonds also provides insights about different types of bonds, including those issued by the U.S. government and its agencies, municipalities, corporations, and international issuers. Most importantly, you'll understand how to identify the bonds that are most appropriate for you. In the final sections, you'll determine how to: Assess your risk profile and set goals Construct a portfolio to meet your objectives Implement a customized strategy Evaluate individual bonds and mutual funds Monitor and maintain your portfolio Avoid the most common mistakes Filled with helpful charts and informative «Bare Essentials» summary points at the beginning of each chapter, Naked Guide to Bonds provides an effective way to become a smart and successful bond investor. Take a look for yourself and you'll see how enjoyable and rewarding learning about bonds can be.

For fans of ‘Fifty Shades of Grey’, discover the author who dares to spell out what women really want; succumb to Nikki Gemmell’s smartly seductive Threesome.This sensational ebook collection includes Nikki’s latest book, ‘I Take You’.‘The Bride Stripped Bare’On honeymoon, a young wife makes a shocking discovery that will free her to explore her most dangerous desires.‘With My Body’A mother escapes from married life in overwhelmingly passionate memories of her first love.‘I Take You’A woman consents to submit to her husband’s every desire, but can she bear to remain under lock and key when true intimacy beckons?

For fans of Fifty Shades of Grey comes an eBook which combines the international bestseller THE BRIDE STRIPPED BARE and its sensational follow-up, WITH MY BODY. An explosive novel of sex, secrecy and escape is followed by a powerful tale of marriage and desire.The runaway international bestseller and its sensational follow-up in a single eBook volume.THE BRIDE STRIPPED BARE: On honeymoon, in the heat and shadows of sultry Marrakech, a conventional young wife makes a shocking discovery. Although confused by her husband’s betrayal, she finds it gives her the freedom to explore her deepest desires and rediscover the true self she has kept hidden from view so long.But her new life is clouded by complication and the raw desire that threatens to overwhelm her. She finds herself torn between need for her husband and her yearning for something more. THE BRIDE STRIPPED BARE is the story of a woman whose powerful awakening is erotic as it is dangerous.WITH MY BODY: Smothered by marriage and family, a woman feels life slipping through her fingers. She becomes preoccupied with thoughts of her early education in love at the hands of Tol, a man like no other she has known. Memories of the affair – Tol’s appetite for her pleasure and her trusting desire – consume her. But the mysterious end to their intimacy left her confused and unwilling to love again with all her heart. Discovering the woman she once was is an erotic journey back into the past and an exploration of reawakened passion.

A woman disappears. She leaves behind an incendiary diary chronicling her journey of sexual awakening. To all who knew her she was the Good Wife: happy, devoted, content. But the diary reveals a secret self – a woman who has desires her husband cannot fulfill.She has been leading a double life – and tasted for the first time the intoxicating power of knowing what she wants and how to get it. The only question is: how long can she sustain her secret?Originally published anonymously, THE BRIDE STRIPPED BARE tells shocking truths about love and sex.