Book Description
Designed specifically for managers, this groundbreaking book emphasizes how to use derivatives to maximize firm value through risk management - instead of just using derivatives to speculate. It presents the crucial tools necessary for executives and derivatives players to effectively hedge with derivatives in order to protect firms from losses. Coverage includes all the pricing tools needed to use derivatives seriously, as well as the tools to evaluate how to use a particular derivative to reduce risk. Risk Management and Derivatives takes a general approach to derivatives, illustrating how to use existing derivatives for risk management - as well as derivatives that do not yet exist.
Customer Reviews:
Wealth of information and very detailed.......2007-01-31
This is one of the best books I ever had. Being able to understand every detail is not easy , but the author does a great job in bringing mathematical concepts with an application perspectives
One of the worst book i've ever read.......2006-04-18
Do not buy this book. It's one of the most poorly written book i've ever read. The author likes to use long winded sentenses to explain simple concepts and he does a piss poor job at it. In addition, this book lack quality example problems to help you learn the concepts. When there are examples, they are deeply burried in text rather than clearly shown in a designated area. Imagine an algebra or calculus book with examples explained in text rather than numbers. (.i.e two plus two equals four ... as opposed to 2+2=4) This is how bad this book is. This book is not worth the money. The only way that it's worth the price I paid is if I get a chance to throw it that the author.
If anyone out there know of a well written risk management book, please let me know. I'd greatly appreciate it.
Encountered feelings.......2004-04-16
I have encountered feelings about this book. I liked that it relates corporate finance topics with risk management, giving a better picture of how finance should be understood. I definitely agree that it is full of very valuable insights that increase our knowledge and understanding of finance and risk management. Some of my impressions about the book are:
-The book is sometimes easy to follow, but many times it is very difficult to follow.
-Many difficult parts to follow were unnecessarily complicated by the author.
-Many times the book didn't follow clearly an idea, as if each following sentence or paragraph was written by different people with something different in his mind each.
-Many times it used several lines and paragraphs to explain something simple that could be stated in one sentence.
-Some topics were explained very clearly but others were dreadfully explained.
-Some numeric examples were clear and some were very difficult to follow
My opinion is that you should look for another book on the subject; unfortunately I cannot give an advice about an alternative book.
Anyway, before reading this book you should have a good understanding about the CAPM, derivatives (futures, forwards, options), and basic probability.
This book could become a great book if the author took the time to improve its readability and coherence, because it has very valuable knowledge embedded in it.
Derivatives and hedging for everyone.......2003-06-26
Risk Management and Derivatives by Rene Stulz is a pioneering book into the need, value, and how to of corporate risk management. Rene Stulz is one of the leaders in this area of finance and has researched and studied it over many years, he is one of the leading experts in the understanding and managing of firm risk. The book motivates the subject by presenting existing and new arguments for the use of risk management by corporations. The book is designed to prepare current and future managers and executives for the world and value of derivatives. To assist the reader, learning objectives are presented at the beginning of each chapter. Many books approach the subject in a very technical or overly simplistic method to the use of derivatives to manage a firms risk, this book gives enough detail for a good understanding and use of derivatives for managing a firm's risk but is not to technical for the non-derivatives expert. All necessary quantitative background is provided in the book.
The book begins by discussing derivatives and how they are used to manage risks. It then goes on to look at the value of risk management from the investor as well as the firms viewpoint. The book then examines the basic derivatives tools used for managing risk, including forwards, futures and options. To help the manager in the use of these instruments the book uses many real world examples and discusses the identification and measurement of exposures. To help the reader understand the use and value of the most commonly used derivatives instruments, the author discusses their use and even explains the pricing of options using the Black-Scholes as well as the binomial pricing models. There is even a chapter on interest rate risk, which is the must common risk that is hedged. In the last several chapters of the book, the author goes beyond the basics and discusses more advanced risk management tools and instruments along with a chapter on swaps, which is a fast growing and flexible tool for hedging interest and exchange rate risks. The book concludes with an extensive discussion of the practice of risk management that examines the recent academic studies and predictions of the future of this valuable and growing field.
If you are interested in risk management or are a manager that is interested in increasing firm value and reducing risk, then this is a must read. This book is the state of the art in this exciting area of finance and is written by one of its leading pioneers.
Book Description
Designed to form the basis of an undergraduate course in mathematical finance, this book builds on mathematical models of bond and stock prices and covers three major areas of mathematical finance that all have an enormous impact on the way modern financial markets operate, namely: Black-Scholes’ arbitrage pricing of options and other derivative securities; Markowitz portfolio optimization theory and the Capital Asset Pricing Model; and interest rates and their term structure. Assuming only a basic knowledge of probability and calculus, it covers the material in a mathematically rigorous and complete way at a level accessible to second or third year undergraduate students. The text is interspersed with a multitude of worked examples and exercises, so it is ideal for self-study and suitable not only for students of mathematics, but also students of business management, finance and economics, and anyone with an interest in finance who needs to understand the underlying theory.
Customer Reviews:
Mathematics for Finance: A useful tool for the unskillled investor.......2007-03-19
I enjoyed reading the book and solving exercises in it. I have a Ph.D.in chemistry and my wife and I did our his and her's MBA in the 1990s. I wanted to learn more concepts in finance and needed an easy entry, something I could enjoy, and without spending much money. The book by Capinski came recommended from a friend who teaches Economics at Cal State. I can speak for myself: I feel reasonably informed and I feel the book gave me concepts I can use to handle my own portfolio.
In the future, this text should be offered with an interactive CD that contains Xls, matrix, calculus, and graphing capabilities so one (I) can visualize the outcomes of proposed solutions.
Incoherent.......2007-01-18
Anyone can scribble a bunch of equations on paper and call it a book. Without sufficient context, they are useless.
Insufficient and disappointing. Not even a good introductury text........2006-05-15
As a graduate student in Financial Engineering I have found this book useless.
The title of the book is "Mathematics for Finance", but can you find in it even an elementary introduction to the stochastic processes? No. Ditto for the Ito's lemma and many other topics. The derivation of the Black Scholes formula is just sketched, and the insight that you can get from it is very limited.
Nevertheless, I wouldn't mind these limitations if this book provided a clear introduction to more advanced topics: unfortunately this book is not good even in that. In comparison to other textbooks the theorems and definitions are convoluted and do not go straight to the point. For example, in Shreve's "Stochastic Calculus for Finance" or Baxter & Rennie "Financial Calculus" the Fundamental Theorem of Asset Pricing is stated in this way: "In a market with risk neutral probability there is no arbitrage". Can you find such a simple and explanatory definition in Capinski's book? Not at all. The theorem at page 83 (you can see it yourself by searching inside the book) basically says the same thing using 8 lines of text and little financial intuition.
The only good thing that I can say about this book is that all exercises are resolved.
Overall, "Mathematics for Finance" has been a big disappointment: it doesn't have either the mathematical depth of Shreve's books or the conciseness in explaining financial concepts of Baxter & Rennie.
Whatever is the level of education that you are pursuing, graduate or undergraduate, I don't see any point in using it.
Great Book for Undergrad Quants.......2005-08-29
Mathematics for Finance (An Introduction to Financial Engineering) is a book intended for undergrad students "IN MATHEMATICS" or other discipline with a relative high mathematical content.
The book assumes some basic notion of Calculus and Probability Theory and it is focused more on the mathematics than in its theory and application of Finance. If you are looking to dwell into the mathematics (Proof of Equations) this is a great book, but if you are looking for a book that is rich in theory and in application then you should consider "Option, Future and Other Derivatives" or "Quantitative Methods for Finance" as an alternative. Both books are "a most" for any finance student and are of great help. Now if you want an introduction into the mathematics behind Finance then this book is a perfect purchase.
Important to state that all the problems presented in this book are solved meaning that it is great for self teaching. Marek Capinsi and Thomas Zastawniak have done a great job on this book.
I gave it four stars, because it has room for impovement.
Joining the chorus.......2005-08-03
I can only echo the other reviewers. As far as I can tell this book has no serious competition. This is an excellent introduction to mathematical finance for those with a solid undergraduate level understanding of higher math but without graduate level exposure. I agree that it is ideal for self study as that is exactly what I am using it for. The price is right especially in contrast with its overpriced brethren. Five stars!
Book Description
The Third Edition of Credit Derivatives is a complete reference work offering comprehensive information on credit derivative products, applications, pricing/valuation approaches, documentation issues and accounting/taxation aspects of such transactions.
Previous editions have consisted of a number of chapters written by the author and a collection of papers from leading market practitioners. This edition departs from the previous format -- all chapters have been written by the author, Satyajit Das.
Key areas of new and enhanced coverage include:
- Inclusion of latest developments in documentation (the 2003 Credit Derivative Definitions and market developments such as Master Confirmations).
- Description of developments in structured credit products, including portfolio products, up-front credit default swaps, quanto credit default swaps, credit swaptions, zero recovery credit default swaps, first-to-default swaps/ N
th -to-default swaps, and many more.
- Increased coverage of credit linked notes including repackaging structures.
- Detailed discussion of the collateralized debt obligations (CDO) market, including CDO structures, pricing and valuation, rating methodology, CDO variations, single tranche CDOs, hedging of CDO tranches, behavior of CDO tranche (equity, mezzanine, senior and super senior) investments.
- Increased coverage of pricing of credit default swaps (including models and valuation approaches) and discussion of cash-synthetic basis and its causes and behavior.
- Coverage of E2C (equity to credit) hedging.
- Detailed examples of applications of credit derivatives by different market participants.
- Discussion of trading in credit derivatives including more complex trading strategies such as basis trading and capital structure arbitrage trades.
- Updated coverage of regulatory framework for credit derivatives.
- Updated discussion of market structures, developments and prospects.
Order your copy of this comprehensive work today.
Book Description
The Das Swaps & Financial Derivatives Library – Third Edition Revised is the successor to Swaps & Financial Derivatives, which was first published in 1989 (as Swap Financing). A second edition was published in 1994 (as Swaps & Financial Derivatives – Second Edition (in most of the world) and Swaps & Derivative Financing – Second Edition (in the USA). The changes in the market since the publication of the second edition have necessitated this third edition.
The Das Swaps & Financial Derivatives Library – Third Edition Revised is a four-volume set that incorporates extensive new material in all sections to update existing areas of coverage. In addition, several new chapters covering areas of market development have been included. This has resulted in a significant expansion in the size of the text. The four volumes in this set are:
Derivative Products & Pricing
Risk Management
Structured Products Volume 1: Exotic Options, Interest Rates & Currency
Structured Products Volume 2: Equity, Commodity, Credit & New Markets
Book Description
The essential premise of this book is that theory and practice are equally important in describing financial modeling. In it the authors try to strike a balance in their discussions between theories that provide foundations for financial models and the institutional details that provide the context for applications of the models. The book presents the financial models of stock and bond options, exotic options, investment grade and high-yield bonds, convertible bonds, mortgage-backed securities, liabilities of financial institutions -- the business model and the corporate model. It also describes the applications of the models to corporate finance. Furthermore, it relates the models to financial statements, risk management for an enterprise, and asset/liability management with illiquid instruments. The financial models are progressively presented from option pricing in the securities markets to firm valuation in corporate finance, following a format to emphasize the three aspects of a model: the set of assumptions, the model specification, and the model applications. Generally, financial modeling books segment the world of finance as "investments," "financial institutions," "corporate finance," and "securities analysis," and in so doing they rarely emphasize the relationships between the subjects. This unique book successfully ties the thought processes and applications of the financial models together and describes them as one process that provides business solutions. Created as a companion website to the book readers can visit www.thomasho.com to gain deeper understanding of the book's financial models. Interested readers can build and test the models described in the book using Excel, and they can submit their models to the site. Readers can also use the site's forum to discuss the models and can browse server based models to gain insights into the applications of the models. For those using the book in meetings or class settings the site provides Power Point descriptions of the chapters. Students can use available question banks on the chapters for studying.
Customer Reviews:
Not recommended.......2007-09-17
"Hodge-podge" is the first term that comes to mind after reading this book. The breadth of topics is notable, but the material itself is far from satisfactory as applied to the real world. If someone offers to pay you to read this book, it would be worth reading. Also, please note that several five-star reviews were written professionally for promotional purposes.
Much worse than Hull's book.......2005-05-20
Ho and Lee's book is not bad, but not as good as Hull's book. First, this book tries to include everything, making it not easy to learn for beginners. Second, the definition in this book is not very clear as hull's book. Third, after reading the book, I really don't know what are models for and how to implement these models; hence, I still have to refer these model from Hull's book.
Excellent Book.......2004-10-07
The field of quantitative financial modeling, young as it is, has seen a massive explosion of published books in recent times. While it may appear that there is now a wealth of literature on financial modeling out there, the sad reality is it has become very difficult to find well-written comprehensive books. Dr T. S. Y. Ho and Prof S. B. Lee's book is in my opinion the most comprehsive book on financial modeling since J. Hull's book. Their book even takes a big step further than John Hull in setting a mathematical framework for consistent valuation of derivatives, corporate liabilities and valuation of firms (Corporate Finance).
This is a an excellent book for researchers, practitioners and students alike. Readers will benefit from a wealth of academic and industrial experience of the two authors, which is very well portrayed in every section of the book. In addition to the book they provide a free interactive website (www.thomasho.com) where one can be more intimate with the financial models discussed in book. One may recall that Dr Ho and Prof Lee are the authors of the Ho-Lee model.
Fake reviewers.......2004-07-17
I am afraid that the 3 reviewrs before me are the same person.
Amazon makes it quite easy for promotional wizards to do that so sales can be increased.
So far there is not even one review that tackes or critisizes this book. Are we all that perfect or should we become a victims of made up book?
Brilliant educational project.......2004-04-04
Most textbooks on financial modeling are devoted to describing specific models, such as those for stocks, bonds, or options, or to their specific applications such as arbitrage trading and portfolio management. Few books describe the financial principles behind the models and tie the models to business solutions.
The Oxford Guide to Financial Modeling by Thomas S.Y. Ho and Sang Bin Lee (yes, the authors of the Ho-Lee model, the first arbitrage-free interest rate model) successfully ties the thought processes and applications of the financial models together and describes them as one process which provides business solutions. The authors very ably explain all the models used in finance, take the financial theory and modeling to the next level and develop a business model framework that integrate the fields of corporate finance, fixed income, derivatives, and Asset & Liability management.
Each chapter begins by introducing a practical problem. The financial models that provide solutions to the problem are then described. The chapter concludes with how the models can be applied. Because of the nature of the material on financial models, the book presents many results as mathematical formulations, yet the text is very enjoyable as the more rigorous mathematical derivations are deferred to the appendices and to the epilogue.
What really makes The Oxford Guide to Financial Modeling a brilliant educational project and just not another excellent textbook is the companion web site that serves as an interactive workbook designed specifically for the book. The site is designed to further enhance understanding of the use and applications of the models referred to in the book and it is accessible free of charge.
Book Description
Fully revised and updated
Here is the only comprehensive source that explains the various instruments in the market, their economic value, how to document trades, and more. This new edition includes enhanced treatment of U.S. and worldwide regulatory issues, and new product structures.
"If you want to know more about credit derivatives--and these days an increasing number of people do--then you should read this book."
--Merton H. Miller, winner, Nobel Prize in Economics, 1990
"Tavakoli brings extraordinary insight and clarity to this fascinating financial evolution . . ."--Carl V. Schuman, Manager, Credit Derivatives, West LB New York
Janet M. Tavakoli (Chicago, IL) is Vice President of the Chicago branch of Bank of America, where she directs the company's overall marketing of global derivatives and manages its CreditMetrics initiative.
Customer Reviews:
Great Book.......2007-03-31
Great book for introduction of CDS and other structured products. I work in risk and this book helped clarify several things.
a practical guide.......2006-10-31
This is a good book about how credit risk derivatives are handled in the daily practice of a big international bank. Although the author clearly knows her math the book contains hardly any formula. Since I am a model builder and most clients of our treasury consultancy firm are medium seize companies there initially was a misfit. However this book is a very good antidote for people putting too much faith in mathematical models. I can not help being one of them. I liked the down to earth approach very much. In the end I learned a lot more than I thought I would.
Recommendation from a Credit Derivatives Trader.......2005-10-15
This is my fourth purchase; this one is for a new analyst I hired. I have read Janet Tavakoli's book as well as all of the current literature on credit derivatives. This book is one of the best books on derivatives I have read in terms of style of writing and content (I'm not after the mathematics on finance; there are plenty of those). I am a current successful credit derivatives trader.
Good collection.......2005-03-27
I am a Fin Math student and by now a Google search expert. I do have this book from my library and it requires patience .
Personally I would keep it that way borrow from a library and read free research on the net with more math. It is a good buy for a practioner who needs to refer various structures and market structure in one place. The author has definetely put in effort to collate all her years of market experience.
Derivatives Sales view:.......2004-03-24
POSITIVE POINTS: Best indepth book on Credit Derivatives. Very readable. Explains very nicely why this derivatives are so important for banks. Non technical.
NEGATIVE POINTS: Focus on banks with only a little chapter on Credit Derivatives as investment products. No explanation how those derivatives are priced (but hey, there are loads of technical books)
Book Description
The credit derivatives market has developed rapidly over the last ten years and is now well established in the banking community and is increasingly making its presence felt in all areas of finance. This book covers the subject from credit bonds, asset swaps and related ‘real world’ issues such as liquidity, poor data, and credit spreads, to the latest innovations in portfolio products, hedging and risk management techniques. The book concentrates on practical issues and develops an understanding of the products through applications and detailed analysis of the risks and alternative means of trading. Credit Derivatives: Risk Management, Trading and Investing provides:
- A description of the key products, applications, and an analysis of typical trades including basis trading, hedging, and credit structuring
- Analysis of the industry standard ‘default and recovery’ and Copula models including many examples, and a description of the models’ shortcomings
- Tools and techniques for the management of a portfolio or book of credit risks including appropriate and inappropriate methods of correlation risk management
- A thorough analysis of counterparty risk
- An intuitive understanding of credit correlation in reality and in the Copula model
The CD in the back of this book includes an Evaluation Version of Mathcad® 12 Single User Edition, which is reproduced by permission. This software is a fully-functional trial of Mathcad which will expire 30 days from installation. For technical support or more information see http://www.mathcad.com.
Download Description
The credit derivatives market has developed rapidly over the last ten years and is now well established in the banking community and is increasingly making its presence felt in all areas of finance. This book covers the subject from credit bonds, asset swaps and related real world issues such as liquidity, poor data, and credit spreads, to the latest innovations in portfolio products, hedging and risk management techniques. The book concentrates on practical issues and develops an understanding of the products through applications and detailed analysis of the risks and alternative means of trading. Credit Derivatives: Risk Management, Trading and Investing provides: A description of the key products, applications, and an analysis of typical trades including basis trading, hedging, and credit structuring Analysis of the industry standard default and recovery and Copula models including many examples, and a description of the models shortcomings Tools and techniques for the management of a portfolio or book of credit risks including appropriate and inappropriate methods of correlation risk management A thorough analysis of counterparty risk An intuitive understanding of credit correlation in reality and in the Copula model
Customer Reviews:
The Chaplin's book does not contain any useful guide for quants.......2007-09-09
I bought this book following misleading title and comments posted here. What I expected the book to contain is not only ISDA documentation and some description of some types of CD but also how to model CD for pricing and hedging. Unfortunately even few formulas presented at the book are not correct (e.g. f. 9.10 at p. 86). The author does not explain how to calculate recovery rates (he seems to believe this is only an assumption without any link to balance sheet!) and does not mention about expected time CD holders have to wait for payoff in case of default. There are only timid attempts to give some approach for pricing models (without Monte Carlo method, Black-Sholes world, measurement of credit risk and explanation why investors should not pay much attention to credit ratings assigned to CD). Taking into account unwinding credit crunch emanating in part from inadequate risk pricing by shaming rating agencies, we should not model CD much based on date from any rating agencies. The book provides a reader with nothing but calculation of probability of default through transition matrices which don't depend on risk-free interest rates.
I found only common wording in form of blah-blah and nothing more, some charts and math attached at appendix are absolutely irrelevant to the main text. Thus I feel disappointed with that I bought. It is not worth money I spent for it. I have rated this book with two stars due to ISDA documentation (it may help those who tend to deep into legislation) and description of some types of CD.
Unfortunately there is a lack of good books covering CD modeling.
If you are a quant, don't buy this book.
Great Blend Between Practical and Academic Structured Credit.......2006-11-19
Outstanding reference for serious traders, analytsts, and desk quants. Valuable insight into market structure, data sources, and practical implementation of pricing models. Overall I think the text is much better than its peer group for single-name credit derivatives with good overviews for CDS-Bond basis trading, CDS forwards and curve trading, Digital recovery and recovery oriented trading strategies.
The material on correlation, baskets, and tranche trading is fine, but probably not that much better than many other texts, as the correlation space is already geared for a more quantitative crowd and there are many fine books that already cover that material.
That said, for a practical approach with quantitative depth for single name trading, it is by far the best text on the market.
The Credit Derivs MARKET, not just the products.......2006-01-11
I unexpectedly found myself working on a computer project for a credit derivatives desk. I bought several books (Bomfin, Tavakoli, Choudhry) about credit derivatives but found they limited their discussion to just the specific products (TRS, CDS, CDS Index, Baskets, Synthetics, etc.) and their pricing analytics. Chaplin's book is the only one I've read that provides a broader view of the credit derivatives market. For instance, when he discusses the vanilla CDS product he includes such detail as the ISDA based agreement that must be signed by both seller and purchaser, the history of how the terms of the agreement evolved, and how a 'credit event' defined in the agreement is actually settled.
Chaplin's book is the 'how things really work' book of the credit derivatives market. A great resource.
Comprehensive with a very practical approach!.......2005-12-07
This book gives a very good insight into the world of credit derivatives. The main products are decribed from a trading as well as from a pricing point of view. The software that comes with it, demonstrates various pricing methods as well as problems and deficits, these modells have.
A must read for everybody who wants to get an insight into the world of credit derivatives.
Well done!
managing member jaz capital.......2005-10-25
A well written and concise book. Geoff Chaplin has the ability to express complex concepts in a clear and lucid manner. One off the most problematic areas of credit is the area of correlation. Geoff does an excellent job of explaining the problems and developing solutions to include conventional solutions from the street.
It is very apparent that Geoff has the practitioner's background to go along with the academic experience.
An excellent teaching tool. Should be a part of anyone's book shelf involved in credit derivatives or with the aspirations of entering that field
Book Description
Based on an enormously popular "derivative instruments and applications" course taught by risk expert Christopher Culp at the University of Chicago, Risk Transfer will prepare both current practitioners and students alike for many of the issues and problems they will face in derivative markets. Filled with in-depth insight and practical advice, this book is an essential resource for those who want a comprehensive education and working knowledge of this major field in finance, as well as professionals studying to pass the GARP FRM exam.
Christopher L. Culp, PhD (Chicago, IL), is a Principal at CP Risk Management LLC and is also Adjunct Professor of Finance at the University of Chicago. He is the author of Corporate Aftershock (0-471-43002-1) and The ART of Risk Management (0-471-12495-8).
Download Description
Based on an enormously popular "derivative instruments and applications" course taught by risk expert Christopher Culp at the University of Chicago, Risk Transfer will prepare both current practitioners and students alike for many of the issues and problems they will face in derivative markets. Filled with in-depth insight and practical advice, this book is an essential resource for those who want a comprehensive education and working knowledge of this major field in finance, as well as professionals studying to pass the GARP FRM exam.
Christopher L. Culp, PhD (Chicago, IL), is a Principal at CP Risk Management LLC and is also Adjunct Professor of Finance at the University of Chicago. He is the author of Corporate Aftershock (0-471-43002-1) and The ART of Risk Management (0-471-12495-8).
Book Description
You'll find detailed but flexible coverage of options, futures, forwards, swaps, and risk management as well as a solid introduction to pricing, trading, and strategy in AN INTRODUCTION TO DERIVATIVES AND RISK MANAGEMENT. A collection of figures illustrate links between puts, calls, stocks, risk-free bonds, futures, options, forwards, Black-Scholes call/put pricing, etc. Included with your purchase is a StockTrack Coupon.
Customer Reviews:
Read Hull.......2006-06-29
I dislike Don Chance both as a person and as a writer. I find him arrogant and intolerable and that bleeds through into his writing. So, yes, I am biased.
I highly recommend instead that you seek out John Hull, a much better author, he has two books; one for undergrad and another for grad (which is the 'bible' on this subject).
A Great Introduction for under or MBA.......2004-11-27
Dr. Chance did a excellent job in carefully introducing the concept and outline of derivatives markets to students with basic business school training. I used the 4th edition in my undergraduate course couple years ago, and built up a solid conceptual understanding in this field. The newest version still keep its pleasant style and contain some thing more about risk management.
This book offers the best introduction to undergraduate business school students or MBA student who need not to work with financial derivatives much.
But for those non-business students wants get into mathematical finance industry, to buy a book only for concept intro may not a economy choice. Refer this book if you find the first half in Hull's "Option, futures and other derivatives" not clear enough.
A Must Have.......2003-08-09
If you are a student just taken up a course in derivatives or risk management you should have this book. if you find john hull more technical, you have Don Chance who covers options and other derivatives in a greater detail and in more words. everything you want to know about how banks etc have risk mangaement systems in place and market risk instruments is here.
in case you want a greater coverage of options and pricing options, you should definatly take a look at Black Scholes and Beyond by Neil Chriss, a work of art.
Excellent book for concepts.......2003-05-09
This is an excellent book for non finance majors who would like to grasp the physical concepts behind different derivatives products traded in the OTC markets. The book is ideal for a preperation read for all aspiring to take Financial Engineering / Derivatives as majors in graduate programs.
An excellent books for Derivatives concepts........2003-05-08
If you are interested in the basic concepts governing derivatives without getting into the mathematics of it then this is the ideal book. I recommend this book for any one who is contemplating taking Derivatives as an advanced level course. The book would give a solid foundation to the concepts of risk management.
Average customer rating:
|
Managing Risk in the Foreign Exchange, Money and Derivative Markets
Heinz Riehl
Manufacturer: McGraw-Hill
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ASIN: 0070526737 |
Book Description
A professional's guide to controlling risk when investing in the foreign exchange and money markets. Particular emphasis on the use of derivatives. The book offers a unique perspective combining coverage of all three areas.
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- Schaum's Outline of Principles of Accounting I (Schaum's)
- Seeing Systems
- Small Business Kit for Dummies
- Spreadsheet Modeling and Decision Analysis (with CD-ROM and Microsoft Project 2003 120 day version)
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- The Economics of Petroleum Supply: Papers by M. A. Adelman, 1962-1993
- The Elegy of Lady Fiammetta
Options, Futures and Other Derivatives (6th Edition)
Credit Derivatives: Application, Pricing, and Risk Management
Understanding Market, Credit, and Operational Risk: The Value at Risk Approach
Fixed Income Securities: Tools for Today's Markets, Second Edition
Financial Institutions Management+Standard & Poor's+Ethics in Finance Powerweb (Mcgraw Hill/Irwin Series in Finance, Insurance and Real Estate)
