Book Description
Designed to form the basis of an undergraduate course in mathematical finance, this book builds on mathematical models of bond and stock prices and covers three major areas of mathematical finance that all have an enormous impact on the way modern financial markets operate, namely: Black-Scholes’ arbitrage pricing of options and other derivative securities; Markowitz portfolio optimization theory and the Capital Asset Pricing Model; and interest rates and their term structure. Assuming only a basic knowledge of probability and calculus, it covers the material in a mathematically rigorous and complete way at a level accessible to second or third year undergraduate students. The text is interspersed with a multitude of worked examples and exercises, so it is ideal for self-study and suitable not only for students of mathematics, but also students of business management, finance and economics, and anyone with an interest in finance who needs to understand the underlying theory.
Customer Reviews:
Mathematics for Finance: A useful tool for the unskillled investor.......2007-03-19
I enjoyed reading the book and solving exercises in it. I have a Ph.D.in chemistry and my wife and I did our his and her's MBA in the 1990s. I wanted to learn more concepts in finance and needed an easy entry, something I could enjoy, and without spending much money. The book by Capinski came recommended from a friend who teaches Economics at Cal State. I can speak for myself: I feel reasonably informed and I feel the book gave me concepts I can use to handle my own portfolio.
In the future, this text should be offered with an interactive CD that contains Xls, matrix, calculus, and graphing capabilities so one (I) can visualize the outcomes of proposed solutions.
Incoherent.......2007-01-18
Anyone can scribble a bunch of equations on paper and call it a book. Without sufficient context, they are useless.
Insufficient and disappointing. Not even a good introductury text........2006-05-15
As a graduate student in Financial Engineering I have found this book useless.
The title of the book is "Mathematics for Finance", but can you find in it even an elementary introduction to the stochastic processes? No. Ditto for the Ito's lemma and many other topics. The derivation of the Black Scholes formula is just sketched, and the insight that you can get from it is very limited.
Nevertheless, I wouldn't mind these limitations if this book provided a clear introduction to more advanced topics: unfortunately this book is not good even in that. In comparison to other textbooks the theorems and definitions are convoluted and do not go straight to the point. For example, in Shreve's "Stochastic Calculus for Finance" or Baxter & Rennie "Financial Calculus" the Fundamental Theorem of Asset Pricing is stated in this way: "In a market with risk neutral probability there is no arbitrage". Can you find such a simple and explanatory definition in Capinski's book? Not at all. The theorem at page 83 (you can see it yourself by searching inside the book) basically says the same thing using 8 lines of text and little financial intuition.
The only good thing that I can say about this book is that all exercises are resolved.
Overall, "Mathematics for Finance" has been a big disappointment: it doesn't have either the mathematical depth of Shreve's books or the conciseness in explaining financial concepts of Baxter & Rennie.
Whatever is the level of education that you are pursuing, graduate or undergraduate, I don't see any point in using it.
Great Book for Undergrad Quants.......2005-08-29
Mathematics for Finance (An Introduction to Financial Engineering) is a book intended for undergrad students "IN MATHEMATICS" or other discipline with a relative high mathematical content.
The book assumes some basic notion of Calculus and Probability Theory and it is focused more on the mathematics than in its theory and application of Finance. If you are looking to dwell into the mathematics (Proof of Equations) this is a great book, but if you are looking for a book that is rich in theory and in application then you should consider "Option, Future and Other Derivatives" or "Quantitative Methods for Finance" as an alternative. Both books are "a most" for any finance student and are of great help. Now if you want an introduction into the mathematics behind Finance then this book is a perfect purchase.
Important to state that all the problems presented in this book are solved meaning that it is great for self teaching. Marek Capinsi and Thomas Zastawniak have done a great job on this book.
I gave it four stars, because it has room for impovement.
Joining the chorus.......2005-08-03
I can only echo the other reviewers. As far as I can tell this book has no serious competition. This is an excellent introduction to mathematical finance for those with a solid undergraduate level understanding of higher math but without graduate level exposure. I agree that it is ideal for self study as that is exactly what I am using it for. The price is right especially in contrast with its overpriced brethren. Five stars!
Book Description
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.
Product Description
Book Description
A market leader, this book has detailed but flexible coverage of options, futures, forwards, swaps, and risk management ? as well as a solid introduction to pricing, trading, and strategy allowing readers to gain valuable information on a wide range of topics and apply to situations they may face.
Book Description
This book is both informative and practitioner-orientated and covers all aspects of different derivative products. It includes the origin and growth of derivatives trading. Who uses it - when, why and how? The method of using each derivative product is also given in a simple form with easy to follow examples.
Derivatives or futures trading have just been introduced into the Indian financal market to replace badla.
Book Description
This digital document is a journal article from Journal of Empirical Finance, published by Elsevier in 2006. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.
Description:
This paper tests whether significant changes in stock return volatility, market risk, and foreign exchange rate risk exposures took place around the launch of the Euro in 1999. The experiment analyzes weekly returns for 3220 nonfinancial firms from 18 European countries, the United States, and Japan. We find that though the Euro's launch was associated with an increase in total stock return volatility, significant reductions in market risk exposures arose for nonfinancial firms both in and outside of Europe. We show that the reductions in market risk were concentrated in firms domiciled in the Euro area and in non-Euro firms with a high fraction of foreign sales or assets in Europe. The Euro's introduction led to a net absolute decrease in the foreign exchange rate exposure of nonfinancial firms, but these changes are statistically and economically small. We interpret our findings in the context of existing theories of exchange rate risk management.
Book Description
This digital document is an article from Journal of Risk and Insurance, published by American Risk and Insurance Association, Inc. on March 1, 2003. The length of the article is 1229 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: An Introduction to Derivatives and Risk Management. (Book Reviews).(Book Review) (book review)
Author: Kevin C. Ahlgrim
Publication:
Journal of Risk and Insurance (Refereed)
Date: March 1, 2003
Publisher: American Risk and Insurance Association, Inc.
Volume: 70
Issue: 1
Page: 177(3)
Article Type: Book Review
Distributed by Thomson Gale
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An introduction to municipal derivative products. (part 2)(risk factors of municipal derivative products): An article from: Government Finance Review
Kathryn Engebretson , and
Gary Gray
Manufacturer: Government Finance Officers Association
ProductGroup: Book
Binding: Digital
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ASIN: B000925KRC
Release Date: 2005-07-28 |
Book Description
This digital document is an article from Government Finance Review, published by Government Finance Officers Association on April 1, 1993. The length of the article is 2490 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
From the supplier: The emergence of financial engineering has resulted in more innovative financial instruments. Derivative securities are among the popular new forms of financial instruments. They are called derivatives because their values are based on other asset values or on the interest rate index. Derivative securities which are popular with municipal issuers include swaps, caps, floors, collars and leveraged products. Some factors to consider regarding derivative securities are presented.
Citation Details
Title: An introduction to municipal derivative products. (part 2)(risk factors of municipal derivative products)
Author: Kathryn Engebretson
Publication:
Government Finance Review (Magazine/Journal)
Date: April 1, 1993
Publisher: Government Finance Officers Association
Volume: v9
Issue: n2
Page: p17(3)
Distributed by Thomson Gale
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Assessing Potential: A Biodata Approach
Barrie Gunter , and
Adrian Furnham
Manufacturer: Wiley
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Binding: Paperback
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ASIN: 186156175X |
Book Description
This book is about the identification, measurement and assessment of business potential among possible future or existing employees. It examines research on using biographical information about individuals to determine their potential in a specific organisational environment. Such biodata can be used by managers when recruiting new staff, and when selecting staff for promotion. This is a valuable source book for managers and students who need to gain a better understanding of the prediction of business performance at the level of the employee.
Average customer rating:
- Very Good
- Make it a part of your personal library !
- Great book on Microbiology
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Soil Microbiology: An Exploratory Approach
Mark Coyne
Manufacturer: Cengage Delmar Learning
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Binding: Hardcover
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ASIN: 0827384343 |
Book Description
This is the ideal book for anyone with a beginning interest in soil science or microbiology. This comprehensive, easy-to-follow book describes soil organisms, explains what they do and why. It shows how they directly influence the food we eat, the water we drink and the air we breathe. A must for anyone studying or pursuing a career in the natural sciences and environmentalism.
Customer Reviews:
Very Good.......2007-03-19
This is a very good lab. book, very complete. Is the best choise.
Make it a part of your personal library !.......2002-02-13
This book is well written one and contains a vast and updated knowledge in soil microbiology. The content of this book is easy to digest especially for individuals who are new to the field of soil microbiology. The text is enriched with easy to follow displays and figures. I strongly recommend my fellow students to get this reference and make it a part of their personal library.
Great book on Microbiology.......1999-12-16
This is one of the best science textbooks that I have ever read. It is intended for students and others who are interested in everyday microorganisms and the roles they play in the environment. Topics include the history of soil microbiology, metabolism, enzymes, soil macrofauna and microfauna, microbial interactions, soil as a microbial habitat, nitrogen and other nutrient cycling processes, carbon cycling, heavy metal remediation, bioremediation and composting.
What makes this book unique is the fun way that the information is presented (from fundamental to advanced topics). What I especially liked were the breakout sections that described especially interesting environmental "hot" topics (PCBs in the environment, Se in Kesterson wetland, vermicomposting, and many others) and simple microbial experiments (e.g. making sauerkraut at home, measuring denitrification, and many others) illustrating the role of microorganisms and other procedural steps of the methods. Another aspect that I really liked was that each subject was told in a short story format with enthusiasm and wit.
I would encourage anyone interested in natural sciences to get a copy of this book.
Anonymous Faculty.
Average customer rating:
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Photonics for Space and Radiation Environments: 20-21 September, 1999, Florence, Italy (Proceedings of S P I E)
Manufacturer: SPIE-International Society for Optical Engine
ProductGroup: Book
Binding: Paperback
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ASIN: 0819434671 |
Books:
- Mictostydy Macintosh Version to Accompany Accounting Principles
- Moneyball: The Art of Winning an Unfair Game
- Narrative Practice Set to Accompany Accounting Principles Third Edition
- Offshore Money Book, The : How to Move Assets Offshore for Privacy, Protection, and Tax Advantage
- Petroleum Refining: Technology and Economics
- Planned Giving Simplified: The Gift, The Giver, and the Gift Planner(AFP/Wiley Fund Development Series) (The AFP/Wiley Fund Development Series)
- Political Economics: Explaining Economic Policy (Zeuthen Lectures)
- Power in the Global Age: A New Global Political Economy
- Practical Financial Management (with Thomson ONE - Business School Edition 6-Month Printed Access Card)
- Primal Leadership: Learning to Lead with Emotional Intelligence
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![The impact of the introduction of the Euro on foreign exchange rate risk exposures [An article from: Journal of Empirical Finance]](http://ec1.images-amazon.com/images/I/21HJ92K900L.jpg)