Extreme Events in Finance

Francois Longin has assembled an authoritative handbook on extreme value theory and its applications in financial risk — 602 pages drawing on more than forty contributors from academia, banking, insurance, and regulation. Market risk, credit risk, stress testing, tail-risk portfolio management: the coverage is thorough, and the pairing of theoretical foundations with real-world institutional case studies is exactly what the field needs. This fills a genuine gap in specialist literature. The honest caveat is that 'specialist' means exactly that: without a solid grounding in advanced statistics and finance, this book will be impenetrable. There's no popular reception and no general-audience relevance. For a graduate student or working risk manager, though, it's a reference worth having.