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!
Product Description
Book Description
Covering the same topics found in more advanced-level texts, Investments incorporates minimal math and is much more student-friendly, resulting in an increased excitement for and understanding of the basic investment course material. It is the text of choice for the College of Financial Planning. It includes a strong focus on the individual financial planner and features a ?Financial Advisor?s Investment Case? at the end of each chapter. These short cases illustrate how text material applies to real investment decisions. Financial calculators are introduced and utilized throughout the text with explanations employing both interest tables and the calculator. It is also ideal for non-majors courses.
Customer Reviews:
I have the teacher.......2007-05-03
Great book and great teacher...I won't sell this book because I've learned too much from it and it will help me later on in life I'm sure.
One word.........BORING.......2007-03-09
This is by far the worst business book I have ever owned. I could hardley make it half a page without my mind wandering. It needs more real life examples to make it more appealing and understandable to the layperson.
To good for you.......2007-01-18
This book is so full of useful information and detail that I want to keep it to myself.....
Solid Introductory Investment Textbook.......2005-10-20
Mayo's "Investments" captures nearly all the relevant subjects in an increasingly complex financial frontier from simple debt instruments and equity issues to complex option strategies. I would have liked to see further mention of hedge funds though, as significant money seems to be pouring into these instruments and the student of investing would gain by knowing more about the various strategies they employ and the trading mechanisms used. Ditto for Exchange Traded Funds (ETFs). With that said, though, Mayo does a fine job providing a comprehensive basis on the investment world. Solid reference book. Strong 4 Stars.
Excellent review of all possible finance instruments.......1999-05-20
It is a text book vs a simple reading book, however the author has done an excellent job of presenting the concepts in simple to understand format. With well writtem text and informative graphs the concepts easy to understand. Covers all types in investments instruments from stocks, bonds, options, futures and portfolio construction.
Book Description
White's TERRORISM: AN INTRODUCTION, a perennial best-seller, is recognized as the most objective terrorism book in the market. In the latest edition, White has rewritten and incorporated parts of his two books DEFENDING THE HOMELAND and TERRORISM to create one new comprehensive text. To reflect this change, the title has been updated to TERRORISM AND HOMELAND SECURITY: AN INTRODUCTION, Fifth Edition. TERRORISM AND HOMELAND SECURITY: AN INTRODUCTION, Fifth Edition strives to discuss the most sophisticated theories by the best terrorist analysts in the world, while still focusing on the domestic and international threats of terrorism and the basic security issues that surround terrorism today. The student-oriented writing style is complemented by rich pedagogy, and there is an adequate amount of research and theoretical discussion to make this the ideal text for both the undergraduate- and graduate-level courses.
Customer Reviews:
Good Book.......2007-09-13
Excellent book to use as a resource. Good quality and very fast to ship.
Great reading.......2007-09-03
To understand what terrorism is, you have to know how it has evolved. This book shows you! Interesting reading!
A great read.......2007-08-13
Dr. White, an international expert in the field of international terrorism has put together a great book to help the average reader who may be inundated with the "war on terrorism" put the problem in perspective. The book is presented in terms comprehensible to the average reader and is not a doomsday approach that many terrorism authors have today. This is a great read and allows a reader to fully comprehend the global problem we face without the rhetoric. Thanks Dr. White.
Terrorism.......2007-01-22
This book is presently being used in my college course on Terrorism. The author presents the information in a precise and readable way. The book was nothing of what I thought it would be. It presents a unbiased history of terrorism . . .from beginning to the present...with explanations about how terrorism works.
Only problem I have with the book, is the author keeps referring to other Chapters when explaining some of the points. I would have preferred to have everything together.
Definitely a book that will help you understand what is going on in the world today.
What a dilemma......!.......2006-10-18
When local governments prove lack of temerity and live in chattering fear from terrorists in their midst, there will be no measure for panic, and experience indicate that fear breeds atrocities.
Experience also indicate that terrorists atrocities do not remain localized, they tend to spread outside the borders.
The UN should leave no stone unturned until terrorism is defined.
If the UN took, in unison, immediate actions in the past century to quash the plots for terrorist's acts, many sad events on the turn of this century would have not been speeded up so sudden and hysterical.
But the UN remained weak by the `Veto' power.
It is amazing how the `super powers' sat on heaps of weapons delicately stored in their arsenals to be on the look out against each others, tiger vis-à-vis tiger, while the bugs were brewing to bug.
Certainly the chain of events leading to 9/11 was so odd they would have been more fitting the famous James Bond - Agent 007 movies.
But the unfortunate fact is that what happened was gravely true.
The USA is to blame because by remaining so passive in the past and by sitting put and lethargic when bloody acts looked them in the eye, America delivered the `wrong' message.
It is incredible how the American public was left aloof to know if the successive Administrations had been seriously handling, or gathering intelligence, about bloody acts around the world.
It is also incredible how the USA abdicated its responsibilities to the UN waiting in profound ignorance to see how the disasters from `petty' and `localized' wars in small countries will unfold.
We can all recall Jimmy Carter's famous smile (a precursor of inaction) and his inclination towards pacifism. (Rescue attempt of American Hostages in Iran that failed).
Despite Ronald Reagan's gifted articulation, his soft actions were no match to his hard words and the same pacifist messages were again delivered.
The USA must have taken better heed of what went `wrong' in small countries on this planet (Lebanon for example), not to stoop from the slightest incident (the attack, that killed 241 marines, on their compound located at Beirut Airport on October 23, 1983, for example). Immediately after this sad event, the USA pulled their forces out of Lebanon - scuttling away from important pressing responsibilities.
As World Power, the USA should not have been deceived!!!
Georges Bush senior daring reprisals looked pale, later on, when Bill Clinton weakened them by his impulse to deal with internal matters at home mixed what they feared to believe with what they dared not to believe. Despite short periods of `hopes' during his first term, Bill Clinton occupied the media for quite sometime bringing up the image that USA house is crumbling, at its weakest point, leaving a lot to be desired.
Mr White sees the definition of terrorism very difficult to formulate, and it gets more confusing within 'Homeland Security.'
Who should decide what is a terrorist act or otherwise a resistance struggle?
Are the Palestinians terrorists? Were Yitzhak Shamir and Menachem Begin terrorists or resistance?
Are Hizbullah terrorists and who should decide so? Were members of the French resistance terrorists?
Which signposts should support `a definition' to be recognized by all nations? Should references to certain groups in history be taken as signposts, and equated with current ones? And how soon will it be settled?
As long as there are inequities in the pending issues facing the UN there shall never be a universal definition.
Who should take the lead to define the legend `Terrorism' , the UN or the USA. This time, the UN seems to abdicate this responsibility to the USA. Our impression is one that the UN is playing the role of the Carrot and the Stick is relegated to the USA.
Perhaps this very dilemma that has been challenging the USA presidents in the last twenty years of the twentieth century until the beginning of this one, will also determine the shape of nations in our times.
Book Description
Martin Pring's Introduction to Technical Anaylsis: A CD-ROM Seminar and Workbook, produced by leading technical analyst and author Martin Pring, explains and demonstrates tools used by the world's foremost technical analysts to evaluate emerging trends. This technically state-of-the-art package then goes further, to provide specific steps you can take to turn these analyses into profit-producing trades. Using the effective CD-ROM/workbook format, you'll learn how to: Research and construct instantly valuable charts of stock and market activity; Interpret the basic concepts of momentum, and apply the theory to actual trades through a common sense set of trading strategies; Use price and volume pattern to identify breakouts; Analyze and act on peaks and troughs that can signal a change in the prevailing trend; Calculate moving averages and gauge their impact. Pricing also includes savvy advice on when to buy, when to take profits, and how to identify and handle false breakouts. More than three hours of CD tutorial, including video, animated diagrams, realistic movies, and audio clips let you develop and hone your technical analysis skills, with an interactive quiz at the end of each chapter.
Customer Reviews:
Excellent beginners book.......2007-08-28
As a newby and complete beginner in TA, I found this to be a near perfect book for getting your feet wet. The style is simple and straight forward with large print and easy to read charts. While there are a few typos, I did not find the excessive amount stated in the reviews of his second edition. I found the CD to be as valuable as the book. It's one thing to read a book, but actually knowing the material is what counts if you are going to apply it to trading. The CD is in multiple choice quiz format. After choosing your answer, Pring tells you in audio, not text, if you got it right or wrong and why. This way you can see if you actually understand the principals before you start risking money. Think back to your college days- how much did you learn from classes you only audited compared with those that had exams!! I dont own Murphy's book, but apparently it lacks this feature. While there is plenty of free info on the internet now, I would rather know I'm getting it from a known expert in the field. Prings book is compact and concise and can easily be read in 8-12 hours, depending on your style. While I plan to buy Murphy's book as a more comprehensive reference (over 500 pages is alot of reading), another must-have book I found is Elder's "Trading for a Living" (a psychiatrist and trader), with its psychology of crowd theory, very true of the market and an excellent supplement to anyone's collection.
Useful information........2007-01-26
I am just getting started into the world of technical analysis and trading stocks. This book is really helping me to understand some of the things I have been observing in the market. The best thing about the CD is the quizes. The reader's voice can put you to sleep - especially if you read the chapters first - he covers the exact same text.
Not for the beginner.......2006-07-02
The book does not have a glossary in the back of the book so we can look up words that the author failed to tell us the meaning. I emailed the author and asked him what certain trading terms meant in his book and I received an email back from somebody named "Lisa" that told me to look it up in the dictionary if you can't find the answer in the book. I think this person "lisa" was very unprofessional in the way she handled this email and her customer service skills need improving. There are better books than this one. This man is from another country other than America and he uses weird words to describe his examples. It's hard to understand.
Good Introduction for the beginner or as a refresher........2005-12-29
Pring does an excellent job of providing the beginner with all of the basics of technical analysis (TA). I have traded stocks for over 15 years and have been trading the spot Forex market. I learned quite a bit about TA several years ago, but thought I would like to continue my education in this area. My only problem with this particular book/CD is that the CD presentation could/should have been more polished. However, the information is all there if you take the time to look, listen, AND USE it!
View from the beginning trader.......2005-11-29
As a beginning trader I have no previous experience with which to determine the value of this book. But I'm glad that I purchased it. First off it is easy to understand and through some repetition it actually drives home the basic ideas. The CD-ROM could be a little more interactive, but having the quizzes included helps the process of self-learning. I'm sure the material can be found online, but to have it all in one book is wonderful. The basic concepts are probably academic to more sophisticated traders, but are easily applied (eg. I predicted the Intel pull-back in Aug 05 and correctly sold out my position). Whether you aspire to be a technician or a fundamentalist (Or if you're like me, you don't care) this book is a great place to start.
Book Description
This has been the # 1 Intro to Corrections book in the market for nearly 30 years. The newest edition retains the majority of the content that makes it a favorite, namely the comprehensive coverage that spans the field’s history from its inception in the 1800s to present day correctional trends. The text integrates well designed learning aids such as Fast Facts and Correctional Briefs to effectively reinforce the subject matter. An outstanding CD Rom accompanies the book, which includes videos featuring the authors’ overview of each chapter, as well as introducing leading criminologists on pertinent topics. The authors address hot trends, present unbiased views on controversial issues and bring the reader face-to-face with key players in both the world of corrections and the offenders who make the system necessary.
Covers corrections' most controversial issues including female offenders, re-entry, special category offenders, probation, and the hybrid jail system. Presents first-hand true stories from big players in the corrections field to bring the issues, challenges and triumphs to life. Analyzes the efficiency of how today’s correctional programs are functioning. Details the court process and alternatives to imprisonment. Looks at local, state, federal prison systems along with private sector systems.
For courses in Introduction to Corrections, Institutional Corrections, and Crime and Punishment. Also an excellent reference for anyone currently working in the corrections field.
Average customer rating:
- Detailed but Comprehensible
- Good Companion Book
- Good book
- Very thoughtful and clear explanation of financial math
- sophisticated maths
|
Introduction to the Mathematics of Financial Derivatives
Salih N. Neftci
Manufacturer: Academic Press
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Similar Items:
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Options, Futures and Other Derivatives (6th Edition)
-
Principles of Financial Engineering (Academic Press Advanced Finance)
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Financial Calculus : An Introduction to Derivative Pricing
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Heard on the Street: Quantitative Questions from Wall Street Job Interviews
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Stochastic Calculus for Finance II: Continuous-Time Models (Springer Finance)
ASIN: 0125153929 |
Book Description
This popular text, publishing Spring 1999 in its Second Edition, introduces the mathematics underlying the pricing of derivatives. The increase of interest in dynamic pricing models stems from their applicability to practical situations: with the freeing of exchange, interest rates, and capital controls, the market for derivative products has matured and pricing models have become more accurate. Professor Neftci's book answers the need for a resource targeting professionals, Ph.D. students, and advanced MBA students who are specifically interested in these financial products. The Second Edition is designed to make the book the main text in first year masters and Ph.D. programs for certain courses, and will continue to be an important manual for market professionals.
Customer Reviews:
Detailed but Comprehensible.......2007-10-14
This booke really helped me understand topics for a class I was taking. After reading it i almost felt like i understood change of measure and numeraire. one of the few books i'd recommend buying.
Good Companion Book.......2007-08-29
good companion book for the other book "Principles of Financial Engineering" by the same author
Clear and easy to understand treatment. The author does not assume a high level of math knowledge of the reader.
Good book.......2007-05-09
As title states this is a good Introduction to the mathematics of derivatives.
If you're looking for some book with C/C++/C#/Java code samples this isn't the book. Indeed a good mathematical introduction; its pre-requirements are a good mathematical and statistical ones.
Very thoughtful and clear explanation of financial math.......2007-02-05
I turn to this book after I get frustrated with Tomas Bojork's book "Arbitrage Theory in Continuous Time." As I am not from a strict math background, this Neftci's book makes much more sense to me. What I particularly like about this book is explanation in plain English of why the mathematical formulae are so, and how they are connected to the bigger picture. Also Neftci has a good grasp of how many real-life examples included in this book so that it doesn't lose its focus on the real math in finance.
sophisticated maths.......2006-06-16
Neftci takes us on a mathematically sophisticated tour of financial derivatives. The treatment is on a level akin to a senior-level undergrad text on physics or engineering. Indeed, to a reader who might come from that background, there will be a lot of similarities and familiar ideas.
For example, partial differential equations arise naturally in the pricing of derivative assets. But unlike many places in physics, here it is not sufficient to assume smoothly varying variables. The inherently discrete nature of most financial variables means that derivatives have to be approximated numerically.
Neftci also describes the various types of options, like basket, knock-out, multi-asset and so on. Each has a slightly different modelling. Another key idea involves the time aspect of pricing. So Wiener processes naturally arise, and the text shows how to handle these.
Much more is covered in the book. Perhaps just as importantly, it gives you enough maths preparation that you should be able to analyse other new types of financial instruments. Maybe even ones that you create yourself.
Book Description
Created by the experienced author team of Frank Fabozzi, Henry Davis, and Moorad Choudhry, Introduction to Structured Finance examines the essential elements of this discipline. It is a convenient reference guide—which covers all the important transaction types in one place—and an excellent opportunity to enhance your understanding of finance.
Customer Reviews:
Fabozzi is a genius.......2007-07-25
The examples provided break down every part of structured finance you need to know. Fabozzi must understand the importance of a strong foundation because he lays one out for you in every piece he writes. I have learned more from reading his work than studying finance at school. He takes concepts and applies them to the real world in a way we can understand. His method allows us to think up more complex scenarios before he presents them to us himself. I recommend this as a great intro to SF and Fabozzi for any further reading in the sections of the industry that are new to you.
Good Book.......2006-11-21
I am a frequent purchaser of the Fabozzi series.
The Credit Derivatives as well as this Structured Finance book are a must have for any person's library.
They give broad but meaningful explanations of multiple product types.
Strong coverage of Credit Derivatives, Credit Linked Notes, Basis Swaps, Total Return Swaps etc..
These products are only going to pick up in trading volume.
The only downside or improvement I would like to see are discussions of new derivative instruments such as Recovery Locks, and go into more detail of Total Return or Credit-Linked Notes/Swaps that are based on floating rate debt.
Average customer rating:
- modelling financial instruments
- good analysis on data error.
- From the experts in the field
- For the new millenium...that's what we need.
- More Than An Introduction
|
An Introduction to High-Frequency Finance
Ramazan Gençay ,
Michel Dacorogna ,
Ulrich A. Muller ,
Olivier Pictet , and
Richard Olsen
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Similar Items:
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Analysis of Financial Time Series, 2nd Edition (Wiley Series in Probability and Statistics)
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Market Models: A Guide to Financial Data Analysis
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An Introduction to Wavelets and Other Filtering Methods in Finance and Economics
ASIN: 0122796713 |
Book Description
Liquid markets generate hundreds or thousands of ticks (the minimum change in price a security can have, either up or down) every business day. Data vendors such as Reuters transmit more than 275,000 prices per day for foreign exchange spot rates alone. Thus, high-frequency data can be a fundamental object of study, as traders make decisions by observing high-frequency or tick-by-tick data. Yet most studies published in financial literature deal with low frequency, regularly spaced data. For a variety of reasons, high-frequency data are becoming a way for understanding market microstructure. This book discusses the best mathematical models and tools for dealing with such vast amounts of data.
This book provides a framework for the analysis, modeling, and inference of high frequency financial time series. With particular emphasis on foreign exchange markets, as well as currency, interest rate, and bond futures markets, this unified view of high frequency time series methods investigates the price formation process and concludes by reviewing techniques for constructing systematic trading models for financial assets.
Customer Reviews:
modelling financial instruments.......2007-03-08
The book gives an indepth statistical modelling of important financial events, that have time dependency. It is suitable for the financial analyst who wants a semi-empirical approach.
For some quantities, like foreign exchange data, there is a comparison between fully empirical results and various theoretical models. What is investigated are such behaviours like scaling laws, for the absolute returns as a function of frequency. Here, it has been empirically observed that scalings do exist for FX rates.
Whenever possible, the book gives rigorous results, often encapsulated in theorems relating to distributions of independently distributed random variables. The reader should have a background in statistics, with the equivalent of several years of undergraduate courses.
good analysis on data error........2007-01-16
Many type of error the book list are frequently occur in FX data.
This book give good guide on how to filter them.
From the experts in the field.......2002-06-06
Michel Dacorogna and the team at the former Olsen & Associates are well-known experts in the field of foreign exchange rate data analysis, and their book provides us with a vast, useful source of information. Unfortunately for students and other beginners, the book is written like a compilation of papers and review articles, the opposite of pedagogical, and with an awful choice of 'computerese' notation (MA(t,n)=sum(EMA(t',k)... etc) that makes Boudhaud-Potters look easy in comparison. More to the point, even their noncomputerese notation is difficult to follow. I hope for a very different second edition written pedagogically for students of this growing and important field. On the positive side, data analyses are performed using logarithmic returns, not price increments. Workers in the field who consult this text will find it helpful.
For the new millenium...that's what we need........2001-07-23
The book covers a wide range of topics related to high-frequency data in Finance. There is a very detailed approach to tackle a huge amount of data and to deal with its based stylized facts. The book triggers the reader's desire to update his knowledge in the field of finance.
More Than An Introduction.......2001-05-28
This one of the few books on high frequency finance is a most welcome to the literature. The book is useful not only for people who are new to the subject but also for researchers in the field since it is a most uniform treatment of many topics. From adaptive data cleaning (chapter 4) to intraday and weekly seasonality (chapter 6) and real time trading models (chapter 11), it covers a broad range of topics specific to high frequency financial time series analysis. Chapters on volatility modeling (Chapter 8), forecasting (chapter 9) and correlation and multivariate risk (chapter 10) are enlightening especially for risk exposure analysis and risk management purposes. Finally, the the extensive bibliography is a precious source for those who would like to explore certain topics in detail. I highly recommend it for practitioners as well as researchers in the field.
Book Description
Finance is one of the fastest growing areas in the modern banking and corporate world. This, together with the sophistication of modern financial products, provides a rapidly growing impetus for new mathematical models and modern mathematical methods. Indeed, the area is an expanding source for novel and relevant "real-world" mathematics. In this book, the authors describe the modeling of financial derivative products from an applied mathematician's viewpoint, from modeling to analysis to elementary computation. The authors present a unified approach to modeling derivative products as partial differential equations, using numerical solutions where appropriate. The authors assume some mathematical background, but provide clear explanations for material beyond elementary calculus, probability, and algebra. This volume will become the standard introduction for advanced undergraduate students to this exciting new field.
Customer Reviews:
Not bad... but there is better out there.......2007-10-23
A per its title, this is an applied mathematics book, and therefore a minimal level of math is expected from the reader. Taking a PDE approach, the book aims at presenting various methods for pricing financial options. While the first few chapters are pretty good at skimming the surface of the theory and laying down the key principles of options pricing, I find that in general, the book lacks depth. Many results (prices of barrier, lookback, asian, etc...) are simply given without real development (or simply with a little of "hand-waving") while the section on the linearity complementarity problem for the American Option is quite muddled... The book does not provide any new insight into the more difficult areas of option pricing and in that sense, simply goes through the typical presentation without adding much value.
It is nonetheless an acceptable and quick overview if you are looking for a refresher of key concepts. If you are looking for a thorough mathematical introduction to options pricing, You-Lan Zhu's book (for example) does a much better job at covering the PDE approach much more rigorously (proving for example some of the convergence criterias for the finite difference method, covering the linear complementarity approach in much more details as well as presenting other numerical techniques) without being overly formal.
Good Buy.......2007-08-29
maps one to one with many chapters in Hull. more elaborate derivations than Hull. Fixed income area treatment is very slim though. Good Buy for the Price.
Okay but not an introduction.......2006-07-31
If you want an introduction, read another book like Hull. If you want to learn how to apply Partial Differential Equations (PDEs) approach to finance then it is a useful book. However, it is better to read an elementary PDEs book before reading this book. At least, learn how to solve parabolic PDEs analytically because the technical notes in the book would not help much.
Introduction to partial differential equations in finance.......2005-10-13
This book treats only the partial differential equations
in Finance and how to treat them using Finite Differences
and Tree. For this purpose it is very well written and
understandable. A very good beginning for student. Even
undergraduate.
Now after reading it you should understand the martingales reading the baxter and how to implement Monte Carlo using, for example Glasserman (see my reviews)
A good introduction to the PDE approach.......2005-10-10
Contrary to what many readers believe, this book explains the pricing of derivatives much better than Hull. Hull gives an overview of the mechanics and properties of the derivative pricing industry, along with its pricing methodologies, and this book provides an in depth method to one of the pricing methods.
Financial derivatives can be priced by a wide range of methodologies, among some the elegant equivalent martingale measure approach (or risk-neutral pricing), replication, multinomial tree approximation, Monte Carlo simulation, partial differential equations etc etc.
This book gives an excellent introduction, and an insight to the PDE approach. Although being a big fan of the Girsanov-change-of-measure method myself, these analytical methods often fail in the valuation of highly complex derivatives like the exotics. Pricing americans prove to be hard and inefficient too, even with simulation and the risk-neutral approach.
This is where PDE methods come in. Since most derivatives (or term structures) have a PDE describing its evolution, solving the PDE seems to be a good (or sometimes the best) way, no matter how complex the derivative can get. PDEs on the other hand, have very robust and easy methods for solving. Therefore, this book brings the reader through basic PDE solving methods, analytical solutions, techniques for fast and efficient numerical approximations as well as rigorous technical explanations for some of the mathematics of partial differential equations (which arise in the financial industry).
The authors are famous for their research in the field of Industrial and Applied Mathematics, and this book continues to be a classic for undergraduates in mathematics in Oxford. If you want to have an overview of the pde approach to option valuation, without the hassle of learning up Radon-Nikodým and martingales, I highly recommend this book!
Average customer rating:
- Avoid the self proclaimed "criminal profiler"
- Do not buy this book
- Decent criminal justice book
- Heed FBI warnings: Turvey exploits niave wannabe profilers
- I agree with the criticisms of the author
|
Criminal Profiling: An Introduction to Behavioral Evidence Analysis (2nd Edition)
Brent E. Turvey
Manufacturer: Academic Press
ProductGroup: Book
Binding: Hardcover
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Similar Items:
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ASIN: 0127050418 |
Book Description
Criminal Profiling is a unique work centered on the deductive profiling method developed by the author and motivated by the limited knowledge available regarding the criminal profiling process. Deductive profiling is different from other forms of profiling in that it focuses on criminal profiling as an investigative process, solving real crime through an honest understanding of the nature and behavior of criminals. It approaches each criminal incident as its own universe of behaviors and relationships. Throughout the text, the author illustrates and emphasizes the most crucial tenet that any good criminal profiler should adhere to: the enthusiastic desire to investigate and examine the facts.
This Second Edition contains the same core knowledge that made the first edition a best-seller while introducing a wealth of new material. This expanded and thoroughly revised edition includes a completely new set of case studies including the Sam Sheppard trial. New chapters include expanded coverage on false reports, psychological autopsies, criminal profiling in court, stalking, domestic homicide, sexual asphyxia, and staged crime scenes.
Contributors include: John J. Baeza, Eoghan Casey, W. Jerry Chisum, Dana S. La Fon, Michael McGrath, Wayne Petherick.
A unique approach - centred on the author's Deductive Profiling method
The work addresses related issues, such as ethics, clinical perspectives and the essential role of the task force
Written in a style accessible to a wide audience - from the detective performing hands-on casework to the academic in the classroom
Ideal text for courses on criminal profiling or investigative strategy in serial crime and as a supplement to courses involving criminology, arson, stalking, sex crimes or death investigation.
Customer Reviews:
Avoid the self proclaimed "criminal profiler".......2007-10-12
Brent Turvey has placed some nice pictures and logical ideas in his book however, the reader must keep in mind that Mr Turvey is a self proclaimed "criminal profiler." The book is worth a flip through but not recommended to be on your shelf, if you work in the field of forensic psychology. It is this reader's recommendation to stick to books written by Dr. David Canter, Dr. Laurence Alison and academic journals if you are involved on hands on work in the field.
Do not buy this book.......2007-09-24
This book is awful I can't beleave I spent money on it. Brent Turvey must have been turned down for a FBI's BSU for a job. Now he spends his time writing books that make people dUmbEr and slaming some of the best Profilers in the world. Do yourself a favor and save your money and I'll tag it under juck.
Decent criminal justice book.......2007-05-06
No, it's not a perfect book on the subject but so does other books. I think this is still a must-read, but not the only reading material, for anyone interested in the criminal justice field.
Heed FBI warnings: Turvey exploits niave wannabe profilers.......2007-01-21
Please do not buy this book. Mr. Turvey's flawed logic regarding "inductive" and "deductive" profiling is flat out incorrect. He is jealous of the likes of Gregg McCrary, Robert Ressler, and John Douglas (individuals who have actually solved crimes), and his "textbook" is a weak attempt to discredit and insult the FBI. The tragic part of what this man has done is the thousands of dollars he takes from hundreds of American citizens who think they can spend 500 dollars on his online course and then transform themselves into criminal profilers. The ONLY profilers work at the FBI and at other state departments of investigation, those actually responsible for solving crimes. Anyone can be a Monday morning quarterback and testify for desperate defense attornys who would do anything to get their client off.
A Word of Caution from former FBI agent Gregg McCrary:
There are a number of pretenders who claim to be "profilers." The common traits found among these individuals is little or no formal training in profiling and some have no investigative experience at all. The lack of training and experience has not stopped some of these individuals from authoring books about profiling. Some offer workshops or courses on the internet and proclaim that they can teach you to become a profiler - for a fee of course.
I agree with the criticisms of the author.......2007-01-11
The author is a bit condescending in his writing style. He is very clear that HIS way is the ONLY way, and he never shies from insults. Clinicians who practice using a Freudian model are "voyeuristic," and anyone who has an interest in this subject must prove themselves in his method or else they're just morbid and disgusting people who have watched too many movies. Maybe he forgot he came into this field too.
There are a few useful things in here, but I'm sure there are much better books with a more neutral approach. I found the author annoying and unfunny.
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