Background
Arditti, Fred D. was born on January 30, 1939 in New York City. Son of David A. and Marie (Ben Nathan) Arditti.
(The growth of derivative markets during the past decade h...)
The growth of derivative markets during the past decade has been nothing short of astounding and so, of late, has been the misunderstanding of their use. This book is the definitive resource on derivatives. It is the first to explain all four major classes of derivative instruments - options, futures, interest rate swaps, and mortgage securities - in terms of their market structure, applications, and pricing, with a focus on the valuation methods used most commonly by professional market participants. Unlike most treatments of derivatives, this book offers detailed explanations of the institutional procedure and market practice for each class of derivative as well as the pricing and hedging of mortgage-backed securities and the central role of prepayment in both activities. It also covers a wide variety of topics such as the structuring of CMOs, PACs, and TACs; smile option pricing; and pricing and hedging of long-dated swaps.
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Arditti, Fred D. was born on January 30, 1939 in New York City. Son of David A. and Marie (Ben Nathan) Arditti.
Bachelor of Science in Electrical Engineering, Massachusetts Institute of Technology, 1960. Master of Science in Industrial Management, Massachusetts Institute of Technology, 1962. Doctor of Philosophy in Economics, Massachusetts Institute of Technology, 1966.
Economist Rand Corporation, Santa Monica, California, 1965-1967. Lecturer, assistant professor finance University California, Berkeley, 1967-1971. From associate professor to professor finance University Florida, Gainesville, 1971—1973, Walter J. Matherly chair finance and economics, 1974-1980, chairman department economics, 1977-1980.
Vice president research, chief economist Chicago Mercantile Exchange, 1980-1982. President GNP Finance Inc., 1982-1986, GNP Commodities Inc., 1984-1986, Drexel, Burnham, Lambert Quantitative Asset Management Group, Chicago, 1986-1989. Finance consultant, from 1989.
Professor finance DePaul University, 1990-1997. Senior executive vice president for planning and development Chicago Mercantile Exchange, 1997-2000. Professor finance DePaul University, Chicago, 2000—2005.
Visiting professor Hebrew University, 1973, University Toronto, 1976—1977, University Chicago, 1981—1983, 1990.
(The growth of derivative markets during the past decade h...)
Children: Elizabeth Marie, Anne Sarah, David Frederick.
