Book Description
Paul Wilmott on Quantitative Finance, Second Edition provides a thoroughly updated look at derivatives and financial engineering, published in three volumes with additional CD-ROM.
Volume 1: Mathematical and Financial Foundations; Basic Theory of Derivatives; Risk and Return.
The reader is introduced to the fundamental mathematical tools and financial concepts needed to understand quantitative finance, portfolio management and derivatives. Parallels are drawn between the respectable world of investing and the not-so-respectable world of gambling.
Volume 2: Exotic Contracts and Path Dependency; Fixed Income Modeling and Derivatives; Credit Risk
In this volume the reader sees further applications of stochastic mathematics to new financial problems and different markets.
Volume 3: Advanced Topics; Numerical Methods and Programs.
In this volume the reader enters territory rarely seen in textbooks, the cutting-edge research. Numerical methods are also introduced so that the models can now all be accurately and quickly solved.
Throughout the volumes, the author has included numerous Bloomberg screen dumps to illustrate in real terms the points he raises, together with essential Visual Basic code, spreadsheet explanations of the models, the reproduction of term sheets and option classification tables. In addition to the practical orientation of the book the author himself also appears throughout the book—in cartoon form, readers will be relieved to hear—to personally highlight and explain the key sections and issues discussed.
Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.
Customer Reviews:
If you plan to work in quant interest rate derivatives, you *must* read it.......2007-09-01
I have used this book to teach a quantitative course on Fixed Income and Interest Rate Derivatives to those Master-of-Science students who are ready to enter the job market. Several of them got jobs in the quant finance industry as a result of this course. They told me what kind of questions they had on interviews, e.g., "derive the risk-neutral drift of the general HJM model." This interview question may sound intimidating to the uninitiated. But thanks to the extraordinarily simple exposition given in Wilmott, my students were able to answer this and many other such questions.
The math in this book is not complicated, if you read the book carefully. With some modest effort, you can figure out where the equations come from. Wilmott does a great job of showing only the relevant equations and hiding the less-important intermediate steps. Of course, if a reader bounces from section to section and expects to see everything clearly at the first glance, then he/she has unrealistic expectations of a quant book.
As for the comment by one of the reviewers about Wilmott's cartoons and jokes. There are quite a few of those. But you are free to ignore them if you think they distract you. It's always up to you what to read and what not to.
A big disappointment.......2007-07-20
I bought this book following all the good reviews Turned out to be a heartbreaker.
1. Artificially bloated -- too many cartoons, flippant and unnecessary jokes mask the whole purpose of the book. Bloomberg pictures are totally unnecessary.
2. Very complicated equations suddenly pop up from nowhere. Author starts from a sound theory. All on a sudden he jumps to completely esoteric equiation and the whole explanation is completely lost. It would be better to dispense with the whole analysis and just give out the final formula.
One of well written books ever in the field of risk management.......2007-04-23
I bought tons of books before this set. This is the place to start. It is written with style and humor coupled with a pace that is simple to adjust to. I judge a book by how many equations it has - more is BETTER! This set strikes a balance. The exposition is solid. It covers many specialized topics like Energy Derivatives (just a taste, mind you, but it is there to get us thinking). I guess the bottom line is this book allowed me to start thinking like a Financial Quant and less like a mathematical physicist. I have gotten much more out of the other more mathematical works because I understand how the Quants think. I still like The Physics of Finance by Ilinsky. This is more than the past Derivatives book (that makes up the first 65% of volume 1) and sets a real tone to understanding - this is just what I was looking for as I re-tool. Buy this FIRST. Read the TOC, and Get moving!
Good summary, but of no use to a job seeker.......2007-04-01
I totally agree with the review of James Ward below. It really doesn't make sense to complain that a SUMMARY of any kind "doesn't cover x" or "glosses over y" because that's unavoidable.
However, I'd like to shed some light of how large the "non-coverage" can be. For instance, you may think that if you have read what Wilmott has to say on Fixed Income Securities, you are at least familiar with the basics, but that's not the case. If you are an entry-level quant looking for a job who claimed to "know the fixed income" you are likely to answer the first 2-3 fixed income interview questions, but fail the rest - unless you add, like, 500 or more pages of fixed income material to what is given in Wilmott.
So if your goal is to be able to claim (even a basic) knowledge of a certain QF topic in your resume, it's necessary to purchase a few good books dedicated entirely to that topic. And to find out what books are good, you don't really need Wilmott's references - using Amazon search and customer reviews should do the job.
A must have for anyone interested in finance.......2007-03-08
I'm only through the first book of the set, and already can't wait to start the second one. This is the best book I've read on quantitative finance (and I thought Hull was pretty good). The language is easy, the math is not cumbersome, everything is clear.
If I had to make a suggestion, it would be in text references. They specify the author and publishing year, but often omit the name of the book (e.g. Wilmott refers to Neftci's 1996 book as the best on stochastic calculus for beginners, yet Amazon doesn't show anything by this author from that year)
Book Description
In this updated student edition, Paul Wilmott updates and extends his earlier classic, Derivatives: The Theory and Practice of Financial Engineering. Included on CD are numerous Bloomberg screen dumps to illustrate, in real terms, the points raised in the book, along with essential Visual basic code, spreadsheet explanations of the models, and the reproduction of term sheets and option classification tables. The author presents all the current financial theories in a manner designed to make them easy to understand and implement.
Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.
Customer Reviews:
An accessable introduction to a vast field of inquiry.......2007-02-06
An "Introduction" to anything is going to alienate half the readers. Why? Well, of necessity it is going to compress large topics, simply summarize complex topics, and leave whole swaths of material untouched. Most complaint reviews here fall roughly in to one or more of those buckets.
Let' face some facts: finance is a huge field of inquiry; mathematics is a huge field of inquiry; practical execution is a huge topic in itself (see the offerings of excellent books on Excel (Walkenbach, Benninga) and C++ (Joshi) and VBA (pick one)). An introduction of the intersections of these topics is no small area of inquiry. I stress using AMAZON's "look inside" feature for a table of contents rather than repeat the litany of topics, but major issues like risk, random, returns, and standard methods are all covered in a fine first approximation.
So how well does Paul Wilmott do? The answer is not bad. This is a great first book to use with folks crossing over to quantitative finance from other areas (Theology in my case), or for folks who will work and talk with quants but not be one themselves. It will probably appear frustratingly simple to math or engineering majors, but this is an *introduction* and believe me, the heavy lifting comes latter.
As a teaching text, the lack of exercises is a frustrating, but the CDROM has lots of fun spreadsheets with simple built in macros that make practical lecturing a breeze.
Wilmott's style is light, and he does make some logical leaps that can look sloppy but are transparently obvious to folks like him (trained in math), but it is often difficult to know what others don't know and explain without over explaining. Any author has to pick where to compress explanations and no one is going to be completely pleased with all of where Wilmott squeezes. Still, with a minimum bit of extra effort (you are sitting at a computer reading this, and Google Scholar is about two clicks away) anything that isn't clear can be found in an expanded technical address at Wolfram or other helpful sites.
This book is also a great filter. My students who complain it is too easy I move quickly along. Those who still don't get it I steer towards careers in financial sales, those that are lulled into a false sense of power I hand them Shreve to invoke humble silence.
In short, this is an admirable work for its purpose: an *introduction* to a vast, complex, and growing field. The perfect book to discover the field while drinking a beer. Just don't let the beer talk you into thinking you've mastered the subject with this book alone, and you'll be fine.
Good Informal Intro to Financial Math.......2006-08-02
Doesn't require post-graduate college courses (if you've ever done calculus and simple statistics, you're in, but you can get by with less). Definitely keeps it light and fun while pouring lots of info into your brainpan.
One caution, which Paul Wilmott points out: the "Stochastic Calculus" is different in some significant ways from the usual "Calculus" you take--Ito's Lemma looks downright wrong to the "Calculus" crowd!
May depend on your background.......2006-02-10
Not interesting, dry and lacks math details. Lacks economic intuition. For me, Hull's book even does a better job explaining Ito's calculus. But Math/Physics guys may like it.
Teaching-like stuff.......2005-08-10
I recently adopted Paul Wilmott textbook for a course on financial engineering I regularly give. I have always thought that stochastic calculus and derivatives are subjects very difficult to teach in a friendly manner. Wilmott textbook is very helpful in that regard.
Introduction to Quantitative Finance.......2003-06-18
A first rate book to accompany the likes of Hull. Wilmott has produced a comprehensive piece of work which address' the subject matter in a less formal approach with accompanying thoughts on the practical relevance of the theory. The inclusion of Bloomberg screenshots and workable examples in the form of a CD rom has resulted in a book more relevant to the real world. For those who can't get enough there is even a discount included to upgrade to the double volume set entitled 'Quantitative Finance'. Well worth the read.
Book Description
Paul Wilmott writes,
"Quantitative finance is the most fascinating and rewarding real-world application of mathematics. It is fascinating because of the speed at which the subject develops, the new products and the new models which we have to understand. And it is rewarding because anyone can make a fundamental breakthrough.
"Having worked in this field for many years, I have come to appreciate the importance of getting the right balance between mathematics and intuition. Too little maths and you won't be able to make much progress, too much maths and you'll be held back by technicalities. I imagine, but expect I will never know for certain, that getting the right level of maths is like having the right equipment to climb Mount Everest; too little and you won't make the first base camp, too much and you'll collapse in a heap before the top.
"Whenever I write about or teach this subject I also aim to get the right mix of theory and practice. Finance is not a hard science like physics, so you have to accept the limitations of the models. But nor is it a very soft science, so without those models you would be at a disadvantage compared with those better equipped. I believe this adds to the fascination of the subject.
"This FAQs book looks at some of the most important aspects of financial engineering, and considers them from both theoretical and practical points of view. I hope that you will see that finance is just as much fun in practice as in theory, and if you are reading this book to help you with your job interviews, good luck! Let me know how you get on!"
Book Description
The only comprehensive reference encompassing both traditional and new derivatives and financial engineering techniques
Based on the author's hugely successful Derivatives: The Theory and Practice of Financial Engineering, Paul Wilmott on Quantitative Finance is the definitive guide to derivatives and related financial products. In addition to fully updated and expanded coverage of all the topics covered in the first book, this two-volume set also includes sixteen entirely new chapters covering such crucial areas as stochastic control and derivatives, utility theory, stochastic volatility and utility, mortgages, real options, power derivatives, weather derivatives, insurance derivatives, and more. Wilmott has also added clear, detailed explanations of all the mathematical procedures readers need to know in order to use the techniques he describes.
Paul Wilmott, Dphil (Oxford, UK), is one of Europe's leading writers and consultants in the area of financial mathematics. He is also head of Wilmott Associates, a leading international financial consulting firm whose clients include Citibank, IBM, Bank of Montreal, Momura, Daiwa, Maxima, Dresdner Klienwort Benson, Origenes, and Siembra.
Customer Reviews:
Truly a must-have!.......2006-03-27
This is the most comprehensive overview on derivatives available. Following a very light and humourous but at the same time rigorous approach, Wilmott manages to make even very complex aspects of modeling, pricing and hedging accessible. This is a must-have for every practitioner.
THE place to start.......2005-08-09
I bough 20 books before this set. I was wondering if the older Derivatives book was really worth $450 used without the CD. This is the place to start. It is written with style and humor coupled with a pace that is simple to adjust to. I judge a book by how many equations it has - more is BETTER! This set strikes a balance. The exposition is solid. It covers many specialized topics like Energy Derivatives (just a taste, mind you, but it is there to get us thinking). I guess the bottom line is this book allowed me to start thinking like a Financial Quant and less like a mathematical physicist. I have gotten much more out of the other more mathematical works because I understand how the Quants think. I still like The Physics of Finance by Ilinsky. This is more than the past Derivatives book (that makes up the first 65% of volume 1) and sets a real tone to understanding - this is just what I was looking for as I re-tool. Buy this FIRST. Read the TOC. Get moving!
Insufficient.......2003-11-24
This is not as good as Wilmott's earlier work, and even that could have benefited from better definition of terms. Wilmott needs to brush up on the latest techniques and talk to some practitioners to learn how to apply math to real world examples. It seems there is a lack of depth of understanding evidenced by the writing. The sections of self-expose are an embarrassment.
Old Material.......2003-11-23
This is recycled Wilmott, but not even as good as earlier work. His first book was better, probably because his co-authors talked some sense into him. His personal anecdotes demonstrate a low emotional IQ. It is as if Wilmott thinks that if readers agree with the finance they must agree with his incessant and juvenile self-regard. My reaction to the inappropriate self-expose was: "Who cares? Get some friends, they might help on the financial aspects of this book".
Wilmott's financial IQ is only average, if this book is to be the evidence. It seems Wilmott isn't up on the latest techniques, or can't be bothered to research them. Stochastic calculus for example. Lack of real world practical examples demonstrates lack of knowledge of how financial instruments work in practice.
Not practical or academic enough.......2003-11-15
The finance market is flooded with paper, but much is redundant and some isn't even very useful. This book manages to be both. "Market Models" by Carol Alexander is a fabulous resource. There are a lot of books and articles on quantitative finance and if you want only that, look through the literature and choose, but this book won't give enough comprehensive coverage to make it a buy.
Book Description
November 11th 2003 saw a landmark event take place in London. As the first conference designed for quants by quants the Quantitative Finance Review 2003, moved away from the anonymous bazaars that have become the norm, and instead delivered valuable information to market practitioners with the greatest interest. The roster of speakers was phenomenal, ranging from founding fathers to bright young things, discussing the latest developments, with a specific emphasis on the burgeoning field of credit derivatives. You really had to be there. Until now, at least.
The Best of Wilmott 1: Including the latest research from Quantitative Finance Review 2003 contains these first-class articles, originally presented at the QFR 2003, along with a collection of selected technical papers from Wilmott magazine. In publishing this book we hope to share some of the great insights that, until now, only delegates at QFR 2003 were privy to, and give you some idea why Wilmott magazine is the most talked about periodical in the market.
Including articles from luminaries such as Ed Thorp, Jean-Philippe Bouchaud, Philipp Schoenbucher, Pat Hagan, Ephraim Clark, Marc Potters, Peter Jaeckel and Paul Wilmott, this collection is a must for anyone working in the field of quantitative finance. The articles cover a wide range of topics:
* Psychology in Financial Markets
* Measuring Country Risk as Implied Volatility
* The Equity-to-Credit Problem
* Introducing Variety in Risk Management
* The Art and Science of Curve Building
* Next Generation Models for Convertible Bonds with Credit Risk
* Stochastic Volatility and Mean-variance Analysis
* Cliquet Options and Volatility Models
And as they say at the end of (most) Bond movies The Best of Wilmott... will return on an annual basis.
Download Description
November 11th 2003 saw a landmark event take place in London. As the first conference designed for quants by quants the Quantitative Finance Review 2003, moved away from the anonymous bazaars that have become the norm, and instead delivered valuable information to market practitioners with the greatest interest. The roster of speakers was phenomenal, ranging from founding fathers to bright young things, discussing the latest developments, with a specific emphasis on the burgeoning field of credit derivatives. You really had to be there. Until now, at least. The Best of Wilmott 1: Including the latest research from Quantitative Finance Review 2003 contains these first-class articles, originally presented at the QFR 2003, along with a collection of selected technical papers from Wilmott magazine. In publishing this book we hope to share some of the great insights that, until now, only delegates at QFR 2003 were privy to, and give you some idea why Wilmott magazine is the most talked about periodical in the market. Including articles from luminaries such as Ed Thorp, Jean-Philippe Bouchaud, Philipp Schoenbucher, Pat Hagan, Ephraim Clark, Marc Potters, Peter Jaeckel and Paul Wilmott, this collection is a must for anyone working in the field of quantitative finance. The articles cover a wide range of topics: * Psychology in Financial Markets * Measuring Country Risk as Implied Volatility * The Equity-to-Credit Problem * Introducing Variety in Risk Management * The Art and Science of Curve Building * Next Generation Models for Convertible Bonds with Credit Risk * Stochastic Volatility and Mean-variance Analysis * Cliquet Options and Volatility Models And as they say at the end of (most) Bond movies The Best of Wilmott... will return on an annual basis.
Average customer rating:
|
Communicating Effectively in an Information Age
William H. Bonner , and
Lillian H. Chaney
Manufacturer: Dame Publishing
ProductGroup: Book
Binding: Hardcover
 Communications
| Skills
| Business & Investing
| Subjects
| Books
General
| Business & Investing
| Subjects
| Books
All Titles
| Qualifying Textbooks - Fall 2007
| Stores
| Books
Business & Investing
| Qualifying Textbooks - Fall 2007
| Stores
| Books
ASIN: 0759313067 |
Book Description
A brief review of grammar, punctuation, numbers, and other communication fundamentals is provided in the end of chapter material for seven early chapters. Exercises students use to verify and to expand their understanding of these fundamentals, follow most of the chapters, with additional exercises in the study guide. Topics include nonverbal communication, ethical considerations, groups/teams, modern technology, graphics preparation, business etiquette, intercultural communication, and verbal communication. Instruction is provided for preparing -mail messages, letters, reports, and oral presentations.
Books:
- Pay Dirt
- Political Cycles and the Macroeconomy
- Practical Business Forecasting
- Principles of Macroeconomics Active Book (7th Edition)
- Principles of Managerial Finance (11th Edition)
- Principles of Retailing
- Principles of Transportation Economics (Addison-Wesley Series in Economics)
- Private Capital Markets: Valuation, Capitalization, and Transfer of Private Business Interests
- Risk, Uncertainty and Profit (Dover Books on History, Political and Social Science)
- Search Marketing Strategies: A Marketer's Guide to Objective Driven Success from Search Engines (Emarketing Essentials)
Books Index
Books Home
Recommended Books
- History: Fiction or Science
- All About Us
- Revolutionary Biology: The New, Gene-Centered View of Life
- Student Study Guide to accompany Anatomy and Physiology: The Unity of Form and Function
- Thomson Advantage Books: Sustaining the Earth: An Integrated Approach
- Beyond Teams: Building the Collaborative Organization
- Writ of Execution
- Architect's Essentials of Presentation Skills
- The Penguin Dictionary of Architecture and Landscape Architecture: Fifth Edition
- From Earth to Herbalist: An Earth-Conscious Guide to Medicinal Plants
Options, Futures and Other Derivatives (6th Edition)
The Volatility Surface: A Practitioner's Guide (Wiley Finance)
Frequently Asked Questions in Quantitative Finance (Wiley Series in Financial Engineering)
The Complete Guide to Option Pricing Formulas
Heard on the Street: Quantitative Questions from Wall Street Job Interviews
