Average customer rating:
- Pithecanthropus
- Excellent practical book for the beginners
- Great help for trainers
- Not recommended for anyone who has previous experience
- Excellent Book
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An Introduction to Foreign Exchange & Money Markets (Reuters Financial Training Series)
London, UK Reuters Limited
Manufacturer: John Wiley & Sons
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ASIN: 047183128X |
Book Description
The Reuters Financial Training Series An Introduction to Foreign Exchange & Money Markets A new concept in financial education training, An Introduction to Foreign Exchange & Money Market is guides novices through the intricacies of the world's wealthiest capital exchange markets. This book sets out to give a clear understanding of how and why these markets function, and explains the associated jargon. Readers will be able to take a more detailed look at Money Market and Foreign Exchange instruments and will be able to examine, in particular, the parameters which must be defined in order to place a value on these instruments, together with basic valuation techniques. Key features include:
* Introductory sections defining terms and giving background to theories
* Examples and calculations of various types of foreign exchange and money market transactions and instruments
* Summaries and overviews at the end of each chapter recapitulating key points and definitions
* Quick quiz questions and answers to reinforce learning
* Further resources which point to other books, articles and internet tools to widen readers' comprehension and entrench their foundation in the subject.
Each book in the series is supported by the Wiley-Reuters Financial Training web site (www.wiley-rft.reuters.com). This regularly updated site offers a range of screens taken directly from the Reuters terminal, information on professional exams, web links to key institutional finance web sites and much more. This book will be of particular interest to novice traders, investors and trainers in financial institutions looking for a key introductory text. Endorsed by ACI Education, the educational arm of ACI - The Financial Markets Association, the book provides a comprehensive study for anyone and everyone involved in Foreign Exchange and Money Markets.
Customer Reviews:
Pithecanthropus.......2001-09-10
The book contains a wealth of practical information however there are errors in the mathematical formulas, dates and etc. This is most frustrating from a reader point of view and dampened the confidence in the material presented. However, it is relatively a easy read for general understanding of the money and FX markets. I hope the author does a more thorough check in the future edition in order to do this book justice.
Excellent practical book for the beginners.......2000-10-02
This is a great practical book for the beginners and intermediate people in the market. When I started in the market as a business analyst, with no prior experience, it was a confused world of trading. After reading this book, things make much more sense. In addition, the book explains brief analytics on how to price and when and why certain instruments will be used for trading. It is geared towards trading. Refer to other books if you are more interested in middle/back office functionality (like settlements, P&L calc, risk management etc.)
Great help for trainers.......2000-07-26
Many a times, trainers in the banking industry find it very difficult to teach complex subjects like foreign exchange and money markets to relatively junior guys. This book will prove to be of great help to those trainers. Probably the first ever attempt in this subject.( Luca's text book can easily be replaced by this book just because of its excellant padagogy). Hope other titles advertised by RFT will also become available soon, specially the one on Risk Management.
Not recommended for anyone who has previous experience.......1999-08-12
If you have some experience of foreign exchange trading, this book is not for yourself. You would learn everything written here within the first six weeks of your job as a foreign exchange trader.
However, this book is great for the REAL beginners who want to learn about foreign exchange from the very beginning and for trainers or teachers who teach those who has little knowledge the foreign exchange. This book starts from explaining what bids and asks are and explains so far up to the mechanics of foreign exchange derivatives. The most remarkable feature of this book is illustrations of deal components and market segments showing how each deal components and markets are related to each other. Detail explanation on different market conventions applied to different currencies is also useful. Short questions at end of chapters are good to review what you should take away from the chapters.
Excellent Book.......1999-07-09
This book is excellent for beginner as well as for advance. It covers all the details right from bottom to top in a very lucid language. It also covers enough diagrams that explains the subject very well.
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.
Customer Reviews:
Must have for anyone interested on Derivatives.......2006-09-15
I really must thank John Hull for this book. The way every topic is covered gives you basic knowledge to enter the depths that await you regarding futures, options and other derivatives. The book is so masterfully written that the approach to every topic is very fluid. Once you've covered the book, you are ready to go on with a more complicated book, including Hull's "Options, Futures, and Other Derivatives" which has a more anylitical approach than this introductory book. The examples are the easiest ones and you can understand everything so clearly I wish there were more books like this.
The best nontechnical introduction book on Derivtatives.......2000-09-04
Hull wrote a classic book for the introduction to futures and options markets. It's for the serious reader who doesn't want to all the deviations and basics of option pricings. If, after reading this book, you're still interested in derivatives you cann proceed with Hull's "Options, Futures, and Other Derivative Securities", Kolb's "Futures, Options, and Swaps", or for the very ambitious student Wilmott's "Derivatives or Quantitative Finance".
Excellent book, must have for finance nuts........1998-08-31
The material is similar to his other book, Options Futures and Other Derivatives, but much more easy to read. With Brealy & Myers, this forms a good complementary text.
A must read for finance specialists.......1998-08-27
If you dont understand what the words Futures/options are and you want to know it, this is the place to start. hull(from McGil i think!) has excellently presented information on these subjects for the student as well as for the practitioner. As a student of MBA(finance) this was the prescribed text and I can safely say this compares with the best. sepcifically this book deals with the entire gamut of Futures/Options/Swaps with mathematical models where required. From CBOT to this day!!
Great introduction book but..........1998-06-18
I reommend readers who are familiar with the derivatives should buy Hull's "Options, Futures and other Derivatives" since it goes faster trough the basics and covers more advanced topics.
Book Description
In Financial Risk Taking, trader and psychologist Mike Elvin explores the complex relationship between human behaviour patterns and the markets, offering the reader a context in which to assess their own strengths and weaknesses as investors. The book offers an apposite and uncomplicated system of skills development in the form of competences and competencies that can be applied anywhere along the continuum from casual investor to full-time day trader. Elvin presents a Comprehensive Model of Trading Competence (the MOT) as well as the concepts of analysis and refutation, the paramouncy principle, and self-sabotaging behaviours such as the Santa Claus syndrome and Bohica effect.
Areas covered include:
- Emotions - are they functional or disabling? How do the mechanisms of fear, greed and panic work?
- Motivation and perception - how do belief paradigms affect perception and performance?
- What perceptual errors influence decisions to the trader's detriment?
- Information processing and risk assessment - how does information overload affect Stress How does stress affect investment decisions?
- Technological and mathematical anxiety - why do we avoid learning the skills we most need? What levels of ability are required?
- Can psychological and biological theories assist in our understanding of investors' performance?
Download Description
"In Financial Risk Taking, trader and psychologist Mike Elvin explores the complex relationship between human behaviour patterns and the markets, offering the reader a context in which to assess their own strengths and weaknesses as investors. The book offers an apposite and uncomplicated system of skills development in the form of competences and competencies that can be applied anywhere along the continuum from casual investor to full-time day trader. Elvin presents a Comprehensive Model of Trading Competence (the MOT) as well as the concepts of analysis and refutation, the paramouncy principle, and self-sabotaging behaviours such as the Santa Claus syndrome and Bohica effect.
Areas covered include:
- Emotions - are they functional or disabling? How do the mechanisms of fear, greed and panic work?
- Motivation and perception - how do belief paradigms affect perception and performance?
- What perceptual errors influence decisions to the trader's detriment?
- Information processing and risk assessment - how does information overload affect Stress How does stress affect investment decisions?
- Technological and mathematical anxiety - why do we avoid learning the skills we most need? What levels of ability are required?
- Can psychological and biological theories assist in our understanding of investors' performance?
"
Customer Reviews:
Trading and Emotional IQ.......2005-08-17
This is the first 'trading' book I've read that explicitly offers advice on suicide. Here is the final sentence of the last chapter, the one on depression and suicide: "...seek out a counselor, to find your way to God as you understand Him, or whatever it is that you need to do to end your pain, loneliness, and hopelessness. If you can manage this, and do something very small every day, I know you will get through your period of loss, and I will feel tremendously grateful for having shared some of your experience with you through this book."
This is not a book on 'how to trade'. Loosely, the book is a psychologist's autobiographical 5 years in the trading pit (ok, in front of a trading screen). The first section covers Dr. Elvin's frustrations with finding a teacher and the second lightly touches on trading techniques. This is all rather flimsy material, but represents a fair picture of the pitfalls facing anyone trying to 'learn' trading by sitting in classes.
The 3rd section on 'perceptual bias' is very good, and obviously takes advantage of Dr. Ervin's 'real job', clinical psychology. There is brief but concise descriptions of the 'primacy error' (we are unduly influenced by experiences immediately prior to a decision), the 'availability error' (we tend to take the easy way out) and the 'Halo effect' (a good trait blinds us to the bad). Other topics include the 'misplaced consistency theory, the 'sunk cost error', 'prospect theory', 'self-deception bias', 'representativeness bias', and 'sampling bias' (law of small numbers). As an answer to this, Dr. Elvin briefly argues against the Neo-Platonic efforts to exclude emotion from decision making, and recommends assessing one's Emotional IQ with a view to improve it. A few well placed emotional disasters pulled from the author's trading experiences illustrate the points nicely.
Concluding that emotional issues are the primary blame for trading disasters, the 4th section covers the delights of Zen meditation and taking on the self-image of a warrior-trader. The book suggests this is the path the author finally chose. We don't end here, though. Instead, Dr. Elvin launches into a fascinating discussion suicide, the suicides of famous traders and gambling addiction, again with personal insights to his own dark moments.
All of these materials are covered in more detail elsewhere, but Dr. Elvin's consistent reference to his own trading experiences provide a relevance missing in more academic work. The summary chapter suggests the author was trying to write a model of trading competence. Using this goal as a measure, the author has failed to deliver. The offered measures of competence seem designed for accountants. The messy comments on assessing one's emotional IQ are hard to package in terms of competence. The juxtaposition of brave 'warrior trader' and 'suicidal trader' illusions speak to the difficulty of the subject. I suspect the author recommends we meditate on these issues.
Get the book, read and apply it - worth the effort.......2005-02-17
I don't normally write reviews, but I think that this is a great book. Serious traders should consider adding this to their library of reference material.
I have a trading library that contains most of the classic trading books, including more than a dozen on trading psychology. The key is to find the "gems" in each one and figure out how to apply them in our own personal style of trading.
This book is unique in three ways:
1. It pulls together some of the "gems" from the classics so the information is more accessible in one place.
2. The author lays down an excellent framework (structure) for being a successful trader - not just today, but a broad set of integrated skills the must be mastered & balanced. This is actually a interrelated set of "competencies" that the author outlines.
3. A "Model of Trading" is identified at a high level, and presented in a strategic and tactical flow chart. Some text supports the flow charts.
There is no "one book" that covers it all, but applying the information in this book would help the individual trader develop his trading career and bring it to a more professional level.
Another view.......2004-11-17
Well, I don't know if "fascinating" is the word I'd choose for this book, though I'm not entirely sure that the word "book" is appropriate to describe it either.
I'm sure Elvin is a very nice person and I applaud him for the journey he undertook to achieve trading competence, assuming that he ever did (achieve trading competence). However, this is not so much a book as a very long -- and I mean VERY long -- research paper. In effect, Elvin provides the glue to hold together not only the views of others but also sometimes lengthy passages from their books. Rather than contribute anything new to the literature, he provides what is called a "review of the literature", and that review is somewhat shallow. For example, the facility with which he assumes the value of certain elements, such as Fibonacci, even though there is no evidence that they have any demonstrable value at all, toots "new trader", giving the book a sort of What I Learned During My Summer Vacation After Being Screwed By A Guru quality.
In a way, it reminds me of those compilations one sees advertised on late-night television: a few minutes of one movement from some symphony, a sampling of an aria from some opera. If this style encourages one to investigate the source material, all to the good. But at $45 ($70 MSRP), it's a bit steep for a sampler.
I suggest, therefore, that dear reader get this book from the library first in order to find out if it's truly what he wants. It may instead provide leads to those books which might actually benefit the reader in the way he had in mind when he sought out the book in the first place.
Commodity, stock and options traders need this book.......2004-09-03
Financial Risk Taking by M. Elvin contains a fascinating blend of practical trading ideas from the trading masters and psychological studies from the academic world. It covers more than the title implies and discusses trading methods, trading as a business, trading standards and trading psychology. Dr. Elvin is himself a trader, clinical psychologist and business person whose illustrations on trading covers his own errors as well as his developing wisdom as a trader. Recommended for traders at any level, from novice to advanced. If you need a first book on trading or a last book on trading, this is it.
Average customer rating:
- Excellent book for the newcomer to options pricing/analysis
|
Options: An Introduction
Robert W. Kolb
Manufacturer: Blackwell Publishing Limited
ProductGroup: Book
Binding: Hardcover
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ASIN: 157718064X |
Book Description
The third edition of Options is a comprehensive look at the most simple to the more complex use and structure of options. Presented in a non-mathematical format, the reader will be able to understand how options are priced, how they are traded and what their payoffs might be.Although there is a significant discussion of American options, there is also extensive coverage of foreign currency options including European options as well. A new chapter covering exotic options has been added to allow the reader to explore some of the more contemporary and complex class of options.The book is accompanied by an IBM-PC compatible program called OPTION! This program consists of nine modules and can compute all of the model prices and examples in the book. The more than 50 exercises can also be computed using the OPTION! software.
Customer Reviews:
Excellent book for the newcomer to options pricing/analysis.......2001-07-23
This book is a good general overview of options pricing for those who do not have a strong mathematical background. It emphasizes the practical aspects of the subject and the author endeavors to be as concrete as possible. There is accompanying software with the book, but since I have written my own software for options pricing I did not use it and cannot attest to its utility or reliability.
The first chapter defines the call and put option, and gives a short history of the options markets. The author discusses taxation of option transactions briefly, which is not usually found in books on options.
In chapter 2, the author discusses options payoffs from using various options strategies. The important principle of arbitrage is discussed, and the assumption of no transaction costs is made throughout the chapter. The author gives a good example of how small differences in price can persist in actual markets, thus showing how transaction costs can effect option pricing. Option combinations, such as straddles, strangles, bull, bear, box, butterfly, spreads, and condors. All of these are summarized nicely in table form. The important area of portfolio insurance is treated with brief discussions on mimicking portfolios and synthetic instruments. Helpful references are given that study the cost of portfolio insurance.
In chapter 3, the author considers the factors that contribute to the pricing of an option using the principle of arbitrage. Complete financial markets are assumed, and the goal is to find how these assumptions can be used to put bounds on option prices. The chapter could be viewed as an elementary exercise in the mathematical formalism of optimization with constraints, but the arguments are mostly qualitative. The effect of interest rates on option prices is also considered in this chapter. Here, the principle of arbitrage is employed to show the price of a put must fall as interest rates rise, while call option prices increase with higher interest rates. Also, the author begins an attempt to show how stock prices influence option prices, and he shows that the riskier the underlying stock, the greater the value of an option.
Then in chapter 4, the author takes up issues of a more mathematical nature, wherein he uses the single-period and multi-period binomial models to price European options. These are used to derive the famous Black-Scholes option pricing model. The author's approach is very practical as he discusses various methods of using historical data to estimate the stock's standard deviation. He cites the Crash of 1987 as an example of why one should use current data to estimate the volatility. This motivates the development of other techniques, such as implied volatility, for estimating the standard deviation.
The 'Greeks', called option sensitivity measures by the author, are discussed in chapter 5. He does use partial differential calculus, but motivates it well, so readers without the mathematical preparation can follow the presentation. It is shown how to combine options with the underlying stock or into portfolios, one can construct positions with the desired risk exposure.
The more difficult job of pricing American options is dealt with in chapter 6, the Black pseudo-American call option pricing model being treated first. The binomial model is applied to American options with various kinds of dividends.
In chapter 7, the author considers options on stock indices, foreign currency, and futures. The Merton model leads off the discussion, and both European and American options are treated in the chapter.
Then in chapter 8, the techniques developed in the book are applied to corporate securities. It is an interesting discussion, and the author gives straightforward examples to illustrate various corporate financing strategies. It should prepare the reader for more advanced reading on the subject.
The last chapter is the most interesting of all as it deals with exotic options. The author considers nine types of exotic options, namely forward-start, compound, chooser, barrier, binary, loopback, average price, exchange, and rainbow options, all of these studied as European options. Closed-form solutions for these types of options are given and numerical examples are given. Several helpful references are given at the end of the chapter. The author gives an interesting real-world example of the use of chooser options, namely the case of hedging with a chooser option on the Mexican peso before the NAFTA agreement in 1993.
Average customer rating:
- A truly wonderful book
- Introduction to option pricing theory
|
Introduction to Option Pricing Theory
Gopinath Kallianpur , and
Rajeeva L. Karandikar
Manufacturer: Birkhäuser Boston
ProductGroup: Book
Binding: Hardcover
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ASIN: 0817641084 |
Book Description
Since the appearance of seminal works by R. Merton, and F. Black and M. Scholes, stochastic processes have assumed an increasingly important role in the development of the mathematical theory of finance. This work examines, in some detail, that part of stochastic finance pertaining to option pricing theory. Thus the exposition is confined to areas of stochastic finance that are relevant to the theory, omitting such topics as futures and term-structure. This self-contained work begins with five introductory chapters on stochastic analysis, making it accessible to readers with little or no prior knowledge of stochastic processes or stochastic analysis. These chapters cover the essentials of Ito's theory of stochastic integration, integration with respect to semimartingales, Girsanov's Theorem, and a brief introduction to stochastic differential equations. Subsequent chapters treat more specialized topics, including option pricing in discrete time, continuous time trading, arbitrage, complete markets, European options (Black and Scholes Theory), American options, Russian options, discrete approximations, and asset pricing with stochastic volatility. In several chapters, new results are presented. A unique feature of the book is its emphasis on arbitrage, in particular, the relationship between arbitrage and equivalent martingale measures (EMM), and the derivation of necessary and sufficient conditions for no arbitrage (NA). {\it Introduction to Option Pricing Theory} is intended for students and researchers in statistics, applied mathematics, business, or economics, who have a background in measure theory and have completed probability theory at the intermediate level. The work lends itself to self-study, as well as to a one-semester course at the graduate level.
Customer Reviews:
A truly wonderful book.......2000-07-28
I am a relatively new student of stochastic processes. The first 4 chapters which are essentially devoted to explaining the theoretical concepts (Ito inetgration, semi-martingales, etc..) are so lucidly written that it is very easy for someone with a limited idea of stochastic process to comprehend them. After establishing these concepts, the book discusses how the earlier theory is applied to pricing by discussing the options pricing models under different scenarios. I felt that although i understood the earlier discussions regarding arbitrage, the part on how it relates with equivalent martingales was quite difficult to understand. But it is probably because i am new to this subject. In all this is an excellent effort by the authors to make a difficult topic readable and understandable. Finally i feel that people, who are genuinely interested in investing their hard earned money in options, should take the time and effort to learn from this book rather than the typical stereotype "How I Became a Millionaire Overnight Trading Options" books.
Introduction to option pricing theory.......2000-06-23
Introduction to option pricing theory.
Stochastic calculus.
Average customer rating:
- Great book.
- Clear introduction
|
Introduction to Derivatives (The Reuters Financial Training Series)
London, UK Reuters Limited
Manufacturer: John Wiley & Sons
ProductGroup: Book
Binding: Hardcover
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ASIN: 047183176X |
Book Description
The Reuters Financial Training Series An Introduction to Derivatives A new concept in financial training, An Introduction to Derivatives guides novices through the often complex and challenging world of Derivatives. Full of definitions, concise descriptions, quizzes and examples, the book studies financial instruments - futures, options and swaps - from basic concepts to applications in trading, hedging and arbitrage. Key features include:
* Introductory sections defining terms and giving background to theories
* Examples of transactions and futures contracts
* Summaries and overviews at the end of each chapter recapitulating key points and definitions
* Quick quiz questions and answers to reinforce learning
* Further resources which point to other books, articles and internet tools to widen readers' comprehension of derivatives and entrench their foundation in the subject.
Each book in the series is supported by the Wiley-Reuters Financial Training web site (www.wiley-rft.reuters.com). This regularly updated site offers a range of screens taken directly from the Reuters terminal, information on professional exams, web links to key institutional finance web sites and much more. This book will be of particular interest to novice traders, investors and trainers in financial institutions looking for a key introductory text. By allowing readers to progress through the fundamentals and applications in a simulated trading environment at their own pace, the book will be an invaluable starting block for those new to the field of derivatives.
Customer Reviews:
Great book........2005-04-01
I have been through 75% of the book and I love it. I have no previous education in finance and I just got into the financial world as a programmer; I wanted to get a basic understanding of different financial products. This book is very easy to follow and does a good job at explaining difficult concepts. The examples are great.
Clear introduction.......2000-06-15
This guide provides an extremely clear introduction to derivatives, including futures, options and swaps. The book's heavy use of charts and other graphics, and friendly layout, makes it especially easy to follow. Though it provides only basic information about strategy and pricing, it does clearly outline the risk profiles of several common derivatives trades. This book won't help you master the Black-Scholes option pricing formula, but it will give you a solid understanding of how derivatives work. Overall, a very good introduction.
Book Description
The objective of this textbook is to provide a very basic and accessible introduction to option pricing, invoking only a minimum of stochastic analysis. Although short, it covers the theory essential to the statistical modeling of stocks, pricing of derivatives (general contingent claims) with martingale theory, and computational finance including both finite-difference and Monte Carlo methods. The reader is led to an understanding of the assumptions inherent in the Black & Scholes theory, of the main idea behind deriving prices and hedges, and of the use of numerical methods to compute prices for exotic contracts.
The author's style is compact and to-the-point, requiring of the reader only basic mathematical skills. In contrast to many books addressed to an audience with greater mathematical experience, it can appeal not only to students entering the discipline, but also to many practitioners, e.g. in industry, looking for an introduction to this theory without too much detail.
Customer Reviews:
Option Mathematics.......2006-03-13
This is a highly mathematical introduction to the Option Theory at university level and can be read and understood only with the necessary background in higher mathematics particularly in the field of stochastic analysis. Bearing this in mind, this is a great book for it covers the theoretical background for statistical methods applied to the financial science.
The definitive one.......2004-08-27
If you are really interested on learning quantitative finance this is the first book you must read. Dr Shreve is not only one of the world's leading researcher on finance but also, perhaps, the most pedagogic writer on the topic
If you are looking for a very readable and unvaluable book, you have fond it, buy it!
Average customer rating:
- DON'T EX"O"RCISE YOUR DERIVATIVE DEMONS
|
An Introduction to Derivatives
Don M. Chance ,
Don Chance , and
Chance
Manufacturer: Harcourt Brace College Publishers
ProductGroup: Book
Binding: Hardcover
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ASIN: 0030244838 |
Customer Reviews:
DON'T EX"O"RCISE YOUR DERIVATIVE DEMONS.......2000-04-27
I am a graduate who majored in finance working as a financial analyst. Well, what I should say of this book is that it tells you how the mechanism works in the whole derivatives world in terms of trading and pricing in a comprehensive manner. As a corporate finance and banking finance expert who has recently got interest in the field of derivative securities this book turns out to be a good starting point in understanding derivatives. However, if you want to know more about in this field, you should also spend time on other textbooks and read academic papers. Furthermore, one had better take some empirical exercises especially on derivative pricing by using computer programmes. (A good comprehensive and easy to follow text is Simon Benninga's Financial Modelling with Excel) Also a good statistical and econometric background would be helpful in understanding derivatives. What I find as a shortcoming in this book is that it doesn't provide answers to the end of chapter questions nor does it supply a computer aid material (a disk whatever) even though it is mentioned in the book.
Average customer rating:
- Excellent Seller; Will do business again
- A Student's Perspective
- Futures and Options Markets: An Introduction
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Futures and Options Markets: An Introduction
Colin A. Carter
Manufacturer: Prentice Hall
ProductGroup: Book
Binding: Hardcover
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Similar Items:
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Derivatives: Valuation and Risk Management
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Options, Futures and Other Derivatives (6th Edition)
ASIN: 0135983681 |
Book Description
/*0-13-598368-1, 59836-7, Carter, Colin A., Futures and Options Markets: An Introduction*/ This book provides an economic understanding of the development and operation of futures and options markets with numerous relevant examples. It is up to date in material, and provides readers with an intuitive explanation of the complicated nature of futures and options markets. KEY FEATURES: A perfect blend of material relating to options, futures, commodities and financials is offered as well as excellent websites for further information. For those in the field of financial planning or money management.
Customer Reviews:
Excellent Seller; Will do business again.......2005-09-10
Extremely fast delivery and product as advertised. Would do business again.
A Student's Perspective.......2002-12-10
The word BORING is what usually comes to mind when I read textbooks for my classes. They are not something I look forward to because I typically drift off into never-never-land. Usually they're missing some dynamic, and as a result they just don't seem to capture my attention.
However, this textbook sparked a DIFFERENT reaction in me. First off, I found the futures and opinions market interesting and the material in the textbook easy to understand. It was teeming with examples and diagrams that enhanced my grasp on the fundamentals behind the market. Unlike other textbooks, I found that I ENJOYED the reading. In particular, I enjoyed the numerous real-world applications provided in the boxes throughout the chapters.
I believe the greatest asset in this book are these real-world applications like: how price movements in the orange juice markets market could forecast freezing temperatures better than the U.S. National Weather service, to the enormous role hedging plays for the airline industries. By intertwining stimulating examples into the required nitty-gritty, it held my attention. I thought reading this textbook was both educational and FUN. It sparked in me a new-found enthusiasm in futures and opinions.
Futures and Options Markets: An Introduction.......2002-11-15
An outstanding introduction to futures and options markets, clear, concise and bursting with examples and current issues and controversies. Unlike most futures and options textbooks this text focuses on all types of assets - commodity, financial, energy etc. The book's blend between theory and applications and examples is outstanding. The applications, which are an intergral part of each chapter makes this a must for students and established researchers who want to gain a full understanding of the current state of the futures and options industry.
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