This book investigates the strategic application of derivative instruments within portfolio management to mitigate risk and enhance returns. Drawing on established financial theory and practical examples, the author, Don M. Chance, a recognized expert in financial derivatives, presents a framework for understanding how options, futures, and swaps can be integrated into diverse investment strategies. The work aims to equip portfolio managers with the knowledge to effectively utilize these complex financial tools.

This text is recognized as a foundational work for finance professionals seeking to understand the role of derivatives in portfolio management. Its strength lies in its clear exposition of complex concepts and its practical, strategy-oriented approach. The book is likely to be valued by those with existing knowledge of financial markets who wish to deepen their expertise in derivative applications.