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Resumo
As operações de hedge adquirem um significado macroeconômico com a expansão dos mercados de derivativos financeiros. A especificação do conceito dessas operações de cobertura de riscos introduz modificações no de especulação. As operações de arbitragem intensificam-se, mas suas fronteiras com a especulação nem sempre são delimitadas. Ambas fazem intenso uso da alavancagem que pode resultar em vultosos prejuízos
Abstract
Hedging operations acquire macroeconomic significance with the expansion of financial derivatives. The specification of the concept of such operations of risk transfer leads to modifications in the concept of speculation. Arbitrage operations intensify, but their frontiers with speculation are not always clear. Both make intense use of leverage which can result in heavy losses.
Key words: Financial markets. Financial derivatives, Hedge. Speculation. Arbitrage.. Leverage. Financial instability. Expectations. Risks
Referências
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