Financial Derivatives And Their Importance In International Financial Management
For some the word "derivative" is synonymous with everything that is wrong with capital markets, trading for trading sake, rampant profiteering, nothing to do with the financial needs of real people. These are a few of the charges ranged against the financial derivative but is that a fair reflection or is there a softer side to this apparently irredeemable beast. The origins of derivative contracts do indeed begin with meeting the needs of ordinary folks. Farmers in the Mid-west in the mid 1800's were faced with financial ruin due to severe fluctuations in the price of corn. By the time they had paid for seed corn plus the expense of growing it and harvesting it they faced the probability of having to sell it for a loss. ...
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