Merton Miller on Derivatives

Merton Miller on Derivatives offers a unique opportunity to learn from one of the most respected financial thinkers of our time. Miller, a Nobel laureate, provides a refreshingly accessible overview of derivatives, debunking common misconceptions and highlighting their value in price discovery and risk management. Through a collection of his recent essays, Miller tackles critical derivatives issues, from the supposed disasters involving Procter & Gamble and Barings Bank to the role of derivatives in hedging risk. He argues that derivatives have made the world safer, not more dangerous, and that the so-called 'derivatives revolution' has enabled organizations to manage risks effectively./n/nThe book also features Miller's insights on financial regulation, Japanese-American trade relations, and corporate governance. His unique perspective on a wide range of topics, from the future of China to the lessons learned from the Crash of 1987, makes this collection a compelling read. Miller's clear thinking and witty analysis provide a much-needed counterpoint to the often negative portrayals of derivatives in the media and by regulators.