HOULTON, Maine and THOMPSON’S STATION, Tennessee — Houlton native Tim Bishop has released his latest book, this one to help businesses curb financial risk.
“Hedging Demystified: How to Balance Risk and Protect Profit” was released July 1 from Open Road Press.
“‘Hedging’ and ‘derivatives’ aren’t dirty words,” Bishop said in a press release. “They’re not for every business, but some companies are bleeding profits because they don’t understand how derivatives work. ‘Hedging Demystified’ will bring them clarity and direction.”
A CPA and former corporate treasurer with over 30 years of business experience, Bishop has seen hedging from all angles — as a scout, strategist, tactician, trader, accountant, supervisor and treasurer. He hedged heating oil for 14 years for a New England company.
Designed as a primer with clear examples and straightforward explanations, the book describes seven types of risk that futures, options and swaps can mitigate. Hedging them will help avoid operating losses for businesses and financial catastrophes for their owners. In addition to conventional commodity risk topics, the book addresses risks associated with foreign currency exchange rates, interest rates, and weather.
Joe Smith, who has managed price risk for businesses large and small, said this in the foreword: “Although Bishop’s book can be readily understood without prior experience with hedging, there is still a substantial amount of pertinent information for readers who already have a solid understanding of the topic. He has written an excellent introductory book on hedging.”
Bishop and his co-authoring wife, Debbie, have received acclaim in recent years for their award-winning book “Wheels of Wisdom,” which captured 52 “Aha” moments from their bicycling adventures across America, winning eight book awards.
“Writing is writing,” Bishop said. “Whether you are trying to describe a breathtaking bicycle ride through Lolo Pass or how a futures contract can reduce risk, writing comes down to understanding your audience and the topic, and then delivering your message with enough clarity, conviction, and skill that it resonates with readers.”
Learn more about Bishops’ book at http://hedging.openroadpress.com.
