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
Structured Products Volume 1 consists of
4 Parts and
20 Chapters covering applications of derivatives, the creation of synthetic assets using derivatives (such as asset swaps, structured notes and repackaged assets), exotic options, non-generic derivative structures used in interest rates and currency markets (including non-generic swaps, basis (floating-to-floating) swaps, swaptions (options on interest rate swaps), callable bonds, CMT products, IAR products, interest rate and currency structured products.
Book Description
Interest rate swaps--used globally by both corporate finance departments and investment firms to control interest payments, manage debt, and enhance investment portfolios--constitute a growing 1.9 trillion market. Now, financial personnel, swap traders, corporate treasurers, and professional cash managers can turn to this clear, authoritative guide to master all the methodologies used in the international swap market. Written for anyone whose work is touched by swap market activity, the guide uses diagramming techniques to first explain what swaps are, and how and why they are traded. It then addresses more sophisticated financial transactions, such as rate setting, analysis of swap desks, market-to-market, speculating, and financial statements. Readers will find detailed coverage of more than two dozen derivative products, including spreadlocks, swaptions, caps, and flows, and learn how swap trading works in foreign currencies and interest rates. Critical light is also shed on questions regulators are currently raising about the security and future of the swaps markets.
Customer Reviews:
Me thinks some reviewers protest too much.......2004-07-11
This book has been damned for being too simplistic, therefore consign it to the trash cart, or so we are expected to do. But given the relative novelty of these financial products simplicity in the best sense of word could be seen as a virtue in any work dealing with this topic. So, why the evident annoyance from some. Could it be that this work dissolves some of the mystery involved, and threatens some closed shop in these markets ?
Outdated and Shallow.......1999-09-02
The book easily shows its age in its focus on standards and issues which have long ago fallen by the wayside in this dynamic market. Far worse is that the book is preciously short on quantitative and analytic methods, and long on third-grade-teacher types of admonishments. I read the whole book becasue I paid for it, there are better, more up-to-date volumes out there. Could possibly be re-named "Swaps for English Majors", although, English majors as a group might correctly be upset at this association.
Book Description
Addresses recent developments in the market and analyzes new swap structures. Explains the banking innovations, techniques and players that spawned this financial revolution. Specific topics include: The structure and operation of all major swap markets in North America, Europe and Asia; The economics and pricing of a wide variety of swap structures; Techniques for hedging swaps and managing a swap inventory; Using swaps to access low-cost funding and to manage asset/liability positions; Accounting, taxation, legal and documentary issues.
Customer Reviews:
Excellent review.......2005-10-19
I find Satyajit Das's books to be quite comprehensive. Indeed, the material is encyclopedic in its coverage of swaps, derivatives and other structured products.
Mr. Das provides original source material on swap structures and paces the reader through difficult material with ease. Anybody who is willing to spend the time will find the material well written from structurer, marketer and client perspectives. This makes it very useful for trading desks of investment banks and hedge funds. The level of detail may appear daunting at first but is necessary to acquire knowledge in this specialized field.
I have bought most of his books including the current boxed set of 4 books that covers newer areas of credit and interest rate derivatives, and structured products. I am therefore at a loss to see where one of the reviewers has given him a poor rating which I feel is wholly undeserved!
I'd encourage Mr. Das to continue his prolific output as it serves a real need in the investment community.
Comprehensive coverage.......2000-10-01
This is a very comprehensive book on this subject. Covers all the aspects of Swaps and related issues. Although, some isues like BIS guidelines are changed since the last publication of this book, it gives good idea of the regulatory and taxation issues of swaps & other related derivatives. This book can be used as a reference in this field. (not for first time reader of this topic)
Dense, mostly unreadable.......2000-06-28
This book is probably useful as a reference for practitioners. (Or was useful -- as another reviewer points out, much material is dated.) As a text or learning tool it is not particularly good. While I understand that my disppointment was probably from a misunderstanding of the books target, in the sections that I have read, the author sometimes suffers from failing to see the forest for the trees.
Comprehensive, but information/technology is dated........1998-03-29
Good source of basic information, but not much on hedging which is key. Also, information is somewhat outdated. Good to have for a reference book on daycounts, basic structures, etc.
Book Description
One of Riskbook.com's Best of 2005 - Top Ten Finance Books The Libor market model remains one of the most popular and advanced tools for modelling interest rates and interest rate derivatives, but finding a useful procedure for calibrating the model has been a perennial problem. Also the respective pricing of exotic derivative products such as Bermudan callable structures is considered highly non-trivial. In recent studies, author John Schoenmakers and his colleagues developed a fast and robust implied method for calibrating the Libor model and a new generic procedure for the pricing of callable derivative instruments in this model. Within a compact, self-contained review of the requisite mathematical theory on interest rate modelling, Robust Libor Modelling and Pricing of Derivative Products introduces the author's new approaches and their impact on Libor modelling and derivative pricing. Discussions include economically sensible parametrisations of the Libor market model, stability issues connected to direct least-squares calibration methods, European and Bermudan style exotics pricing, and lognormal approximations suitable for the Libor market model. A look at the available literature on Libor modelling shows that the issues surrounding instabilty of calibration and its consequences have not been well documented, and an effective general approach for treating Bermudan callable Libor products has been missing. This book fills these gaps and with clear illustrations, examples, and explanations, offers new methods that surmount some of the Libor model's thornier obstacles.
Customer Reviews:
Good exposition.......2006-05-12
The book is quite technical, but at the same time quite clear. It's definitely a good source to learn from.
Book Description
State-of-the-art instruction for understanding and using structured financial products
For financial professionals, the ability to understand the basic design and uses of structured financial products is critical for modern investing, as well as client retention. Derivatives Demystified: Using Structured Financial Products contains up-to-date and in-depth information on a complete range of derivative-based financial instruments.
Critical Praise for Derivatives Demystified
"Derivative financial products are an increasing part of global finance. Braddock narrates us through this mystical world in a way non-professionals can understand."âAmbassador James R. Jones, Former Chairman and CEO of the American Stock Exchange
"John Braddock has accomplished the impossible. Derivatives Demystified breaks down hypercomplex subject matter into manageable units and then explains them using easily understood prose. This is a must read for everyone in the securities industry."âProfessor Jeffrey J. Hass, Professor of Securities Law and Corporate Finance, New York Law School
"The word 'derivatives' is a hot-button topic in Washington. Derivatives Demystified is an eminently readable book and goes a long way toward correcting many of the misconceptions about this fascinating new area of global finance."âDr. Douglas E. Schoen, Political Strategist, Penn & Schoen
"Braddock's 'inside look' at the activities of the financial wizards who structure these instruments is, by itself, worth the price of admission."âEdward H. Fleischman, Consultant, Linklaters & Paines, Former Commissioner of the Securities and Exchange Commission
"A clear and indispensable guide for the serious investor."âMichael Metz, Chief Investment Strategist, Oppenheimer & Co., Inc., New York
Structured products are financial instruments that are engineered to meet specific investment objectives. In this comprehensive new book, financial engineering expert John Braddock provides both technical and non-technical readers with valuable insights into some of today's most innovative financial instruments.
Essential tools used by many financial professionals, these non-traditional securitiesâwhose values are linked to, or "derived" from, such underlying assets as stocks, bonds, currencies, and commoditiesâare increasingly available to investors at every level. Structured products can facilitate the movement of risk exposure into and out of investment portfolios with greater efficiency than many conventional securities. And due to their sensitivity to price fluctuations, they often provide investors with early insights into the behavior of the assets and markets on which they are based.
Beginning with a thorough and timely overview of the main types of structured products in use todayâhow and why they are used, investment risks, and customer suitability requirementsâDerivatives Demystified: Using Structured Financial Products also offers an extensive examination of the development and marketing process and the responsibilities of officers and directors overseeing derivative transactions. With up-to-date and authoritative explanations, it is packed with essential information on:
- Warrants and index linked notes
- Convertible securities and equity linked notes
- Exotic and custom-made options
- Monetization and hedging strategies for restricted or low cost basis stock
A key element of Derivatives Demystified: Using Structured Financial Products is the special Resource Guide. This unique section provides valuable information on many important aspects of financial engineering, including the investment banking, marketing, and underwriting activities that relate to the creation of structured products. It includes sample product development checklists, marketing materials, management presentations, cost studies, and a comprehensive glossary.
An indispensable tool for grasping the complexities of derivative securities, and their use as the building blocks for structured products, this clear and concise guide provides an invaluable addition to any financial library.
Customer Reviews:
Too simplistic.......2003-07-10
This book is too simplistic for the real world.
Great for the odrinary investor too!.......2000-09-30
"Derivatives Demystified" is a real find. It explains this complex subject simply and thoroughly. Read it!
Good introduction book.......1999-03-13
The book covers the basic retail products very well, but don't expect highly sophisticated products.
Average customer rating:
|
Chinese Yuan (renminbi) Derivative Products: Derivatives Products
Peter G. Zhang
Manufacturer: World Scientific Publishing Company
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ASIN: 981238927X |
Book Description
With the CNY revaluation perspectives, hundreds of billions of US dollars have been invested in various types of CNY-related derivative products. As a derivatives specialist with more than ten years' experience in the international financial market and with a working experience in China in the past few years, the author offers a volume on trading and other practical issues of CNY- related derivative products in the offshore marketplace.
Average customer rating:
- Dated and with plenty of mistakes
- Very much better than some people might think!
- Covers a lot of grounds on derivatives. Great reference.
- Caveat Emptor
- Financial Book, not for begineer
|
Managing Financial Risk: A Guide to Derivative Products, Financial Engineering, and Value Maximization
Charles W. Smithson
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Futures, Options, and Swaps
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An Introduction to Derivatives and Risk Management (with Stock-Trak Coupon)
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Valuation of Fixed Income Securities and Derivatives, 3rd Edition
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The Volatility Surface: A Practitioner's Guide (Wiley Finance)
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Fixed Income Securities: Tools for Today's Markets, Second Edition
ASIN: 007059354X |
Book Description
Managing Financial Risk is the most authoritative and comprehensive primer ever published for financial professionals who must understand and successfully use derivaties. The previous edition of this professional financial classic sold over 18,000 copies and emerged as a leading training tool in the derivatives industry. The book covers derivative products from the most basic to the most complex and explains how derivatives are used by each major player in the market: dealers, financial firms, and corporations. In addition, the book includes short contributions from a variety of experts from leading companies such as Citibank, J.P. Morgan, British Petroleum, and Ciba-Geigy. Completely updated to include new material on new products such as commodity swaps and credit swaps, this edition will cover every aspect of the derivatives marketplace with insight and authority.
Customer Reviews:
Dated and with plenty of mistakes.......2006-03-01
I had to buy this book as it was the text book for one of the subjects that I am studying.
Dated: e.g. Many examples that deal with European currencies that were replaced by the Euro.
Errors: In the illustrations, there are some calculations that take incorrect parameters to derive the results (obviously yielding wrong results). This is misleading and time consuming.
Verbosity: The book explains in twenty pages something that can be explained in five.
No good.
Very much better than some people might think!.......2005-11-30
For those of you who may not be aware, Charles Smithson is the "father" of the building-block approach to making derivatives understandable, showing a linked, family-tree approach, rather than each explaining each one separately with no clear connections. He is both a top practitioner with many years of senior-level experience, as well as an academic for more theoretical work.
I am amazed at some of the negative reviews. I can only think that is because there aren't enough partial differential equations and complex pricing/hedging models (there really aren't any, but that doesn't make this a simplistic book). I also teach finance at the Masters level, as well as teaching practical applications of derivatives to various bank clients.
In my oppinion, this is the single best book on derivatives for non-specialists that I have seen (and I have seen most of the derivatives books around). Even people on the trading floor would benefit from the clear forest-for-the-trees approach. This is not an easy book, though it doesn't require any more than school algebra (with the exeption of one chapter on option pricing, contributed by Cliff Smith and, even there, the calculus could be skipped over lightly). This book will give the reader a very good understanding of the most important aspects of derivatives and their applications. This is something that is often woefully lacking in banks, where the focus is on the minutiae of quantitative models, treated almost as an exercise in math, without a very clear understanding of the finance that the math is there to model. The treatment is broad and balanced, from pure product knowledge to issuer applications to investor applications and to banks managing their own market risk. This breadth is very rare in derivatives books.
My only criticisms are that there are some mistakes (as in most technical books that are not textbooks, benefiting from the review of many students, if you look hard enough for them) and there is insufficient emphasis now on credit derivatives and the management of credit risk, though I feel sure Charles Smithson will address that in the next edition - he has written a separate book "Credit Portfolio Management."
Perhaps someone should take up the offer of a free copy from a previous reviewer - a real "free lunch." I highly recommend this book to relative beginners, as well as to experienced practitioners who want more breadth.
Covers a lot of grounds on derivatives. Great reference........2003-05-29
I bought this book to give myself a thorough education on derivatives. And, I got it. It is very readable, yet it covers all the topics in adequate technical detail, so you can hold your own in the company of derivatives traders and the like. I often refer to this book, to refresh my memory on the different structure of option models, or how to value an interest rate swap. This is the sort of stuff you will not remember unless you use these concepts on a weekly basis. But, with this book, it does not matter, it is easy to refresh your knowledge.
Caveat Emptor.......2001-10-04
I also use this book as part of the Masters course in Sydney and I cannot remember the last time I picked it up to read as I have better things to do with my time than try and work through the glaring errors in formulae, graphs and general commentary. The presentation is verbose and circumlocutory and to add to the frustration often wrong. I feel obliged to warn potential buyers not to make the same mistake that I have. Gallitz on Financial Engineering is a far more interesting and accurate text and for the rigours of applied financial maths Mastering financial calculations teaches you more in 200 pages than Smithson could in a lifetime of trying to improve on this first edition. If anyone would like my copy of Smithson I'm happy to give it away for fear further sales may encourage McGraw Hill to continue publishing the book.
Financial Book, not for begineer.......2000-09-16
The book is written in a complex way. For example, a simple future contract, was explained in long and complex way. It is not able to show the point directly. Anyway, it is not a bad point. It has some quite excellent practical example. It is the most valuable parts of the book.
Average customer rating:
- A little dated but a great reference
- Excellent content, but misleading title.
- Great Collection of Papers
- Great Collection of Papers
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Risk Management and Analysis, New Markets and Products (Wiley Series in Financial Engineering)
Manufacturer: Wiley
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Risk Management and Analysis, Measuring and Modelling Financial Risk (Wiley Series in Financial Engineering)
ASIN: 0471979597 |
Book Description
The author/editor has produced two stand-alone or companion volumes. Only one third of the original material remains.
New Markets and Products begins with two chapters on emerging markets. The book then goes on to cover markets and products of increasing complexity: standard equity and interest rate derivatives, exotic options, swap (and swaptions), volatility trading and finally credit derivatives.
The contributors are all acknowledged experts in their fields: Michael Howell, Mark Fox, Ian King, Chris Rogers, Andrew Street, Riccardo Rebonato, Edmond Levy, Bryan Thomas, Vincent Lacoste, Desmond Fitzgerald and Blythe Masters.
New Markets and Products will be an essential reference tool for risk managers, institutional investors, fund managers, bankers, corporate treasurers and financial consultants.
"In this volume Carol Alexander has gathered together ten articles that are concerned with important recent developments in financial markets. Two of the articles are concerned with emerging markets. They explore the reasons for their growth and the nature of the investment opportunities available. The remaining eight articles are concerned with derivatives. There are chapters on equity derivatives, interest rate derivatives, exotic options, volatility trading, and credit derivatives. The final chapter on credit derivatives is particularly timely. This market is in the process of transforming the way banks manage credit risk. I have seen no other discussion of the market as comprehensive and useful as that provided by Blythe Masters.
Market participants and students alike will find much useful and thought-provoking information in this volume."
- John Hull, August 1998
Customer Reviews:
A little dated but a great reference.......2005-04-02
The articles presented in this book definitely provide a good foundation of concepts required for FRM and Financial Markets.
Excellent content, but misleading title........2001-10-11
This book is a continuation of volume 1 - being that it is purely focused on financial markets and financial products. I was looking for a book on managing risk surrounding the development of new products (i.e. goods) and services for the market place. These issues are VERY different than those surrounding financial products in a nearly efficient market. I'll keep the book for the excellent content, but beware - it's probably not what you might expect!
Great Collection of Papers.......1997-07-24
The chapters on Interest Rate Option Models (Riccardo Rebonato) and Calculating Risk Capital (Thomas Wilson) are great critical surveys on their respective topic
Great Collection of Papers.......1997-07-23
The chapters on Interest Rate Option Models (Riccardo Rebonato) and Calculating Risk Capital (Thomas Wilson) are great critical surveys on their respective topic
Book Description
Authoritative and practical resource to mastering derivatives markets. Includes glossary of tools, terms and techniques.
Customer Reviews:
Good Start.......2002-12-14
This is a good reading for someone with no Futures & Options knowledge. I find it quite useful how the author clearly defines various swaps namely-- Currency, Interest Rates and Energy. However, this book would not cover newer Derivs stuff i.e. Credit Derivatives (though it provides a simple snapshot of CDS and TRS). I commend the author for not taking the GEEK approach.
Basic and thorough understanding on Derivatives.......2001-07-06
You may seldom locate a book telling you one of the most practical aspect in recent regime of financial accountng - booking the derivatives. Nevertheless, it spent a few paragraphs together with some examples showing you the booking of three major types of derivatives in the financial market. Other topics also illustrate comprehensively the functioning of the derivatives as well as accompanied with various examples. Had it not been for the limited pages in explaining the booking methodology, it would have been the best derivatives related book that I have met before.
Easy to follow.......1999-04-24
An excellent introduction to options and the over-the- counter foreign exchange markets.Lays out in simple plain English trading strategies and goes about removing some of the mystery that surrounds this subject
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