Book Description

"An excellent and comprehensive source of information on hedge funds! From a quantitative view Lhabitant has done it once again by meticulously looking at the important topics in the hedge fund industry. This book has a tremendous wealth of information and is a valuable addition to the hedge fund literature. In addition, it will benefit institutional investors, high net worth individuals, academics and anyone interested in learning more about this fascinating and often mysterious world of privately managed money. Written by one of the most respected practitioners and academics in the area of hedge funds." -Greg N. Gregoriou, Professor of finance and research coordinator in the School of Business and Economics at Plattsburgh State University of New York.

"This is a landmark book on quantitative approaches to hedge funds. All those with a stake in building hedge fund portfolios will highly profit from this exhaustive guide. A must read for all those involved in hedge fund investing."-Pascal Botteron, Ph.D., Head of Hedge Fund Product Development, Pictet Asset Management

"François-Serge Lhabitant's second book will prove to be a bestseller too - just like Hedge Funds: Myths and Limits. He actually manages to make quantitative analysis 'approachable'- even for those less gifted with numbers. This book, like its predecessor, includes an unprecedented mix of common sense and sophisticated technique. A fantastic guide to the 'nuts and bolts' of hedge fund analysis and a 'must' for every serious investor."-Barbara Rupf Bee, Head of Alternative Fund Investment Group, HSBC Private Bank, Switzerland

"An excellent book, providing deep insights into the complex quantitative analysis of hedge funds in the most lucid and intuitive manner. A must-have supplement to Lhabitant's first book dealing with the mystical and fascinating world of hedge funds. Highly recommended!"-Vikas Agarwal, Assistant Professor of Finance, J. Mack Robinson College of Business, Georgia State University

"Lhabitant has done it again! Whereas most books on hedge funds are nothing more than glorified marketing brochures, Lhabitant's new book tells it how it is in reality. Accessible and understandable but at the same time thorough and critical."-Harry M. Kat, Ph.D., Professor of Risk Management and Director Alternative Investment Research Centre, Cass Business School, City University

"Lhabitant's latest work on hedge funds yet again delivers on some ambitious promises. Successfully bridging theory and practice in a highly accessible manner, those searching for a thorough yet unintimidating introduction to the quantitative methods of hedge fund analysis will not be disappointed."-Christopher L. Culp, Ph.D., Adjunct Professor of Finance, Graduate School of Business, The University of Chicago and Principal, Chicago Partners LLC ... Read more

Book Description

The best-selling, best known text in Mathematical Economics course, Chiang teaches the basic mathematical methods indispensable for understanding current economic literature.the book's patient explanations are written in an informal, non-intimidating style.To underscore the relevance of mathematics to economics, the author allows the economist's analytical needs to motivate the study of related mathematical techniques; he then illustrates these techniques with appropriate economics models.Graphic illustrations often visually reinforce algebraic results.Many exercise problems serve as drills and help bolster student confidence.These major types of economic analysis are covered:statics, comparative statics, optimization problems, dynamics, and mathematical programming.These mathematical methods are introduced:matrix algebra, differential and integral calculus, differential equations, difference equations, and convex sets. ... Read more

Reviews (20)

Great Introduction to Mathmatical Economics
I used Chaing's book for an intro the mathematical economics as an econ undergrad. Much of the material is useful for both advanced undergraduates and graduate studies. I especially found the optimization (applied differential calculus) and matrix algebra useful. Using an input output coefficient matrix (as described in the text) we were able to see how Russia operated under the communist regime. We used GAMMS for the mathematical programming. Overall the course and this book were an eye opening experience to applying mathematical models to real world problems. I hope to explore this realm of thinking further in my graduate studies. I highly recommend this book, even to people with a somewhat limited math background (1 calculus course).

A must read for graduate students in economics
Alpha Chiang's text should serve as the foundation for all quantitive analysis done in economic theory. It is an invaluable teaching tool for graduate students in economics and will help them better understand the mathematical techniques that have become so necessary for economic modeling.(p)

I am not a highly quantitative person myself, but I found Chiang's book comprehensible and a useful reference guide in my gradaute economics classes. Along with Hal Varian's "Microeconomic Theory" and Jan Kmenta's "Econometrics", I would say that Chiang's "Fundamentals of Mathematical Economics" should serve as sacred literature for any prospective graduate student in economics.

Wonderful Book
I used this book as a review of the mathematical concepts before entering my Ph. D. program. It is extremely helpful and well-written. From the very beginning, Chiang does a good job in explaining things. I initially complained about the dragging discussion on convex sets. Later on, I realized the importance of such in optimization, and finally understood why Chiang had the reader go through that much detail. A decent background in calculus and statistics is probably sufficient to get you through this book on your own. Although the last edition of this book was written in 1984, I think that it's still one of the best reference books that you can have.

Never quite goes to the point
I am writing my PhD dissertation in Economics. I was first assigned this book almost 10 years ago during my second year undergraduate course in mathematics for economists. This book has then kept resurfacing, for instance in the summer course in math that preceded my master.
Actually, I quite dislike the book. Lukily, I was given the choice between this book and Simon&Blume and I chose the latter. I unfortunately bought Chang first and started studying this becuase it was the "preferred text".
It turns out that Chang tries to make it too easy. It's great when books make the subject easy, and I abhor formalism for its own sake, but when you have to wade through pages and pages of bubbling and exercises to find out what the chapter is all about, then it is too sloppy. Please have nicely stated assumption, theorem, nicely worked out examples and explanations. No! Chang thinks that it is better to work out for you tons of examples without bothering to put it all together in a nice statement. I get lost in this! Too easy is wrongly easy, if the text book omit to clearly state all the assumptions (because it would be too difficult) you can be sure that my profs put a tricky case in the exam in which the assumptions are violated and you don't know what to do, because Chang never stated them, nor bothered to solve that specific case - or maybe he did solve that case but it got lost among the others.

Have a look at the table of content. The first half of the book is appropriate for a first undergraduate course in mathematics for economists, and the second half for a second course. It won't lead you much further than that.
Most masters will require you to learn at least hamiltonians (but that's easy). True problem is that this book does not really give you good basis for thinking mathematically in graduate school.

Fundamental Methods of Mathematical Economics
Mathematicians should like this book, not economists. The text focuses on mathematic theory, not on calculations and economic applications. This text is not good for applied economics or business. ... Read more

Reviews (5)

Wordy and confusing text not worth the cost
This book was required for my intermediate macroeconomics course at Cornell University. I found the book to be very confusing, especially on the more technical topics such as the Solow growth model. I give Abel and Bernanke credit for trying to develop a unified, balanced approach to macro... which they do; unfortunately, the exposition is not clear and the book is extremely wordy and not concise. I highly recommend N. Gregory Mankiw's Macroeconomics text instead.

Great book from a great professor
I have the good fortune of studying under Prof. Abel at The Wharton School. Of course, we use this book as our required text! The book is excellent, and is very easy to understand. A good introduction for the layperson interested in the macro economy.

People Who Know Economics Choose This Book.
The book is a favorite at the University of Chicago, an institution that has produced 20 Nobel Prize Laureates in Economics. You couldn't ask for a better recommendation.

Brillant and Well Written
This book makes me feel like I am studing macroeconomics. I could not find any book in the library that is as comprehensive and detailed like this publication. An invaluable text for undergraduate economics majors dying to understand the economy and enonomic policies. A marvellous book I will treasure.

Economic Nightmare
This is the worst economics book i have ever come across in my 4 years as a student. The book is not only colorless and boring, but it does not seem to ge the main points across. Worse yet, the homework questions sometimes draw on information not explained in the text. Examples are very few, and the confusion is much. I would advise economic teachers to look elsewhere for a text. ... Read more

Book Description

This unique book applies economic theory to the business of sports. It deals mainly with professional team sports (with a section devoted to college team sports), showing how supply and demand join at the market level, and how team owners act together through their leagues (or athletic departments through the NCAA) to facilitate their market power. This book will help the reader understand the business side of sports and how it impacts the games seen at the stadium or in the arena.Topics covered in this book are: demand, supply, and sports market outcomes; the market for talent and labor relations; government and the sports business; and college sports.With amusing anecdotes and interesting stories about sports business personalities, this book is for anyone who is involved in the economic side of sports and sports management. ... Read more

Book Description

Fueled in part by some extraordinary theoretical developments in finance, an explosive growth of information and computing technology, and the global expansion of investment activity, investment theory currently commands a high level of intellectual attention. Recent developments in the field are being infused into university classrooms, financial service organizations, business ventures, and into the awareness of many individual investors. Modern investment theory using the language of mathematics is now an essential aspect of academic and practitioner training.

Representing a true breakthrough in the organization of finance topics, Investment Science will be an indispensable tool in teaching modern investment theory. It presents sound fundamentals and shows how real problems can be solved with modern, yet simple, methods. David Luenberger gives thorough yet highly accessible mathematical coverage of the standard and recent topics of introductory investments: fixed-income securities, modern portfolio theory and capital asset pricing theory, derivatives (futures, options, and swaps), and innovations in optimal portfolio growth and valuation of multiperiod risky investments. Throughout the book, he uses mathematics to present essential ideas of investments and their applications in business practice. The creative use of binomial lattices to formulate and solve a wide variety of important finance problems is a special feature of the book.

In moving from fixed-income securities to derivatives, Luenberger increases naturally the level of mathematical sophistication, but never goes beyond algebra, elementary statistics/probability, and calculus. He includes appendices on probability and calculus at the end of the book for student reference. Creative examples and end-of-chapter exercises are also included to provide additional applications of principles given in the text.

Ideal for investment or investment management courses in finance, engineering economics, operations research, and management science departments, Investment Science has been successfully class-tested at Boston University, Stanford University, and the University of Strathclyde, Scotland, and used in several firms where knowledge of investment principles is essential. Executives, managers, financial analysts, and project engineers responsible for evaluation and structuring of investments will also find the book beneficial. The methods described are useful in almost every field, including high-technology, utilities, financial service organizations, and manufacturing companies. ... Read more

Reviews (8)

One of the few books I have purchased twice.
This is the best book by far on the theory of finance. The book covers all the important fundamental concepts and develops them into practical models without going overboard and introducing every possible variation on the model. the style is both conversational and mathematical. It is replete with discussions about the material, but it doesnt gloss over the math. I took professor Luenbergers course at Stanford, and it piqued my interest in finance enough to pursue it professionally. (At the time, I was a masters student in electrical engineering.) I purchased several other books in finance. I dont even know where they are now, every time I have a question or need to build a new model, I go straight to Luenberger. This book is so good, I bought a second copy just as a backup, in case I lose my copy and the book goes out of print.

Excelent book! Great clarity and depth in the subject
I attended his courses at Stanford and indeed he's an eminence in the subject, and all his wisdom has been printed in this excellent book. This book provides you with the required tools to fully understand the theory and practical methods for valuation. A plus is the introduction of Real Option valuation concept. It's adequate for advanced undergraduates or mainly for graduate studies in preparation for deeper courses.

Perfect for advanced undergraduated courses.
It is very difficult to find a book on investments with a clear quantitative background that fits the necessity of advanced students. Luenberger's explanations and exercices are the finest I have ever read. His book is a good step for those who want to keep on studying portfolio analysis, CAPM, asset pricing and stochastic process.

Very useful tool for students
I think this is a very good book for students and professionals working in the world of modern finance.

One of my favorite finance books
This should be a required text for all financial engineering and computational finance students. Dr. Luenberger's treatment of portfolio allocation and derivatives is the best I have read. Finance is finally beginning to make sense. Bala Shetty is a professor of information and operations management at Texas A&M University in College Station,Texas. ... Read more

Book Description

Authors James D. Gwartney, Richard L. Stroup, Russell S. Sobel, and David Macpherson, believe that a course on principles of economics should focus on the power and relevance of the economic way of thinking.It is this belief and corresponding writing approach that has made Microeconomics: Private and Public Choice one of South Western Thomson Learning's most solid and enduring texts.Throughout this text, the authors integrate applications and real-world data in an effort to make the basic concepts of economics come alive for the reader. ... Read more

Book Description

Why make statistics harder than it has to be?Lind/Marchal/Mason: STATISTICAL TECHNIQUES IN BUSINESS AND ECONOMICS, 11/e is a perennial market best seller due to its comprehensive coverage of statistical tools and methods delivered in a student friendly, step-by-step format.The text is non-threatening and presents concepts clearly and succinctly with a conversational writing style.All statistical concepts are illustrated with solved applied examples immediately upon introduction. Modern computing tools and applications are introduced, but the text maintains a focus on presenting statistics content as oppose to technology or programming methods, and the eleventh edition continues as a ‘students' text with increased emphasis on interpretation of data and results. ... Read more

Reviews (8)

Good Book
This was a useful book and had helpful examples using excel. I had hoped that it would have had examples using the TI83 calculator but other than that this was a good book for statistics.

GOOD Stats book
Many examples. The formulas were easily explainable and understandable. However, I had hoped that it would have provided additional uses on the calculator like the TI83 - but the CD that accompanies this book was well done to help you do additional excercises on excel. So I give this book 5 stars!

Not a bad book
First of all, I would like to say that this is not a bad book, but I personally found that many of the examples were a little hard to follow. I felt that in many cases steps seemed to be left out, and it was assumed that you would know how to get to these points in the examples that were shown in the book. Unfortunately in my case the professor teaching our statistics class really does not seem to care to follow the material in the book. He's not a bad buy, but I'm not so sure he should be teaching statistics. In addition we use Microsoft Excel and the Megastat add-in on some of the example problems. So what happens is that the answers I get vary depending on whether I follow the book, my professor, or the Megastat program. All of this adds up to massive confusion on my part, and on the part of my fellow classmates.

The Paperback, International Ed. is Great
The paperback international edition is the best deal out there! It will save you a load of cash and is EXACTLY the same content wise as the hardback USA edition. As far as the quality of the textbook goes I'm not exactly a math minded person and this book seems to explain stuff fairly well or at least as good as Quantitative Methods can be explained.

Excellent Book!
Reading this Book helps anyone understand all Basic Statistics; this allows continue with more advanced textbooks. I recommend it to all, who need to start up with essential statistics and need a friendly, introductory but very efficient approach! ... Read more

Book Description

Steve Nison revolutionized the world of technical analysis when his two bestselling books introduced Japanese candlestick charting techniques to the western world. "Candles," he discovered, can signal shifts in trends and price patterns with amazing accuracy, and these "storyteller" charts also contain powerful applications for today’s volatile short-term markets.

In The Candlestick Course, Nison breaks new ground once again. From the basics through the more complex stages of pattern recognition, each chapter includes specific learning objectives, key terms, clear-cut instruction, and practical applications. Plus, each end-of-chapter quiz allows readers to perfect their charting abilities before moving on. This book is the ideal training tool for newcomers, and perfect for veterans looking to refine and hone their skills.

Focused on the needs of today’s active traders and investors, Nison:

• Provides a solid foundation to candlestick charts–reinforcing key skills as you go
• Reveals how to pinpoint critical market opportunities as they arise, by recognizing key candle signals
• Tests your ability to accurately analyze and interpret candle charts
• Demonstrates how candlestick concepts can trigger potent decision-support tools that can confirm–or enhance–buy/sell signals
• Includes a valuable "progressive charting" case study
• Ties all the aspects of candlesticks together through interactive examples and visual tests

Whether viewed as a supplement to Steve Nison’s other books and courses, or as your introduction to candlestick charting, this course book will familiarize you with the intriguing world of The Morning Star, The Hammer, The Dark Cloud Cover–and the many other powerful and precise patterns Nison shares with fellow traders and investors.

Not just a one-time read, The Candlestick Course can be used as a valuable reference source, and quick refresher course, time and again. ... Read more

Reviews (8)

Frustrating
The content of this book is good. My criticism is that the layout is badly planned. You have to refer to charts on different pages, then look at the questions on another different page, then refer to the answers on another different page etc. Lots of flipping pages back and forth, kind of ruined it for me.

Shooting Stars and Belt Holds and Dark Cloud Cover
This is a great basic primer on candlestick charting techniques by the guy who allegedly introduced it into the west fifteen years ago. All the basic one, two, and three formations from spinning tops and high wave candles to piercing lines and cloud covers to three soldiers, harami cross and evening doji stars are there. It is pretty amazing that candlesticks are so much simpler but contain more information than standard western tick and point-and-figure charts. Among the things I learned were that hammers must have shadows twice as long as the real body, and the way windows (gaps) are used for support in Japanese trading. The book is arranged with quizzes, and while repetive (and there are a couple of minor mistakes, including on one of the questions), Nisson really drives home the message. Among the things he emphasizes are that candlesticks are best for signaling reversals, and that they are best supplemented by western techniques for price targets and confirmation. Although not quite a complete novice, I'm a slow reader but it only took me three hours to read this in the library. The last part of the book takes you through a chart and points out the formations-dispelling the common critique that technical analysis is completely subjective. Highly recommended and quite a contrast to the information overload of many other trading books.

Outstanding book! A must have for any technical trader
I'm reading this book now and it's amazing how much you can learn in so short a time. This is a small book but the information and the way it's presented is outstanding. I wish all of the books that required study put their material in this format. Each section has a quiz to determine that you understand the material. Not only that but detailed answers to each of the questions is included. You're getting double re-enforced learning. While it starts with the basics of candlesticks the book concludes with real examples of applying these patterns. What's really the kicker is that Steve shows how he integrates Western charting techniques with candlesticks to greatly improve the odds in trading.

I don't expect to be a trading wizard after reading through this book but I do expect my trades will be thought out more thoroughly with the right techniques.

Get this book even if you don't use candle charts now.

very useful book
this book is more likely study guide for candlestick charting techniques. it contains a lot of useful exercises to test your understanding on candlestick. i strongly suggest to read other nison books before you buy this book. i give this book 4 stars because this book very useful and give more knowledge to understand candlestick

Learn Candlesticks
This is a wonderful book. It does exactly what it claims. I've read a lot of trading books, and this is probably the only one that I've given 5 stars. Every trader has some familiarity with candlesticks, usually just enough to get into trouble trying to use them. Candlesticks can show changes in market psychology much more rapidly than traditional bar charts, but you need to know how to properly use them before using them as a major trading tool. This book really is a course that starts with the basics, then steps you through graduated complexity to using candlestick signals to trade a historical chart. Each section is followed by a quiz, with the answers provided. The answers are actually expanded course material. I learned the difference between a valid and an invalid signal. More than that, I learned how to properly use the signals. The book moves along rapidly, without a lot of irrelevant discussion or philosophy. It stays focused on the subject. I completed it in just a few hours. Get this book! Learn how to properly use candles in your trading. This course has made a difference in my trading. What more can I say? ... Read more

Book Description

Departing from the encyclopedic nature of most Principles texts, which encourages students to simply memorize concepts and see economics as a collection of unrelated terms, formulas, graphs, and theories, this text provides students with a picture of economics as a unified discipline; a set of interrelated tools and ideas that can be used to look at the world in a different way.This book's concise, less is more approach has been carefully crafted in terms of both content and supporting pedagogy to keep students focused on learning and applying the central ideas used in economic analysis.It uniquely employs a simple methodology throughout to emulate how economists look at problems, and teaches students how to use this same analytical process in developing their own economic analysis skills.Hall/Lieberman's careful focus on core theoretical ideas as well as systematically applying the theoretical tools to interesting real-world questions conveys the message that economics is an integrated, powerful body of knowledge that can be used to address important issues. ... Read more

Reviews (3)

Nice pictures, bad book
I was required to use this book for a college macro course.I found this to be one of the worst business textbooks I've seen so far.I think it fails its job at giving the average college student a good understanding of the macro economy.

When explaining simple concepts that should be easy to grasp, the book loads the reader down with obscure mathematical equations and other gobblygook.On rather complicated topics where additional details would help, they try to condense the topics making it difficult to see the big picture.To figure out what I was supposed to learn, I had to use other sources to help me out (i.e. websites and other business books).I also think the authors are poor at making comprehensible analogies.

Perhaps the most annoying aspect was the author's injected liberal opinion.In a few chapters, they innuendo their griefs about how businesses are unfair to poor people and that successful individuals should have their winnings reallocated to the less privileged.They also gripe about how not everyone can find a job in a capitalist society.It seems that the authors have little understanding of concepts like competition and motivation to be successful.

If you are a course coordinator considering this book for a macroeconomics class, please do your students a favor and seek a different book.As a student, it is more helpful to have a book free of opinions.A book that uses clear explanations rather than confusing lines and charts.If the websites and other sources I used can clearly state the material, so can a textbook!

Way more interesting than the course
This book helped me pass my exam!The course is so boring and very dull, but this book uses everyday situations to explain the concepts.Marc Lieberman is a professor at my school and I wish I had him as a professor because all of the students who did have him said that his class is awesome.So if his class is awesome, his book has got to be awesome...right?

This book uses alot graphics and colors, which makes it more fun to read.This the exactly how I would want to be taught economics.There is also a little humor in the book too, which makes it even more fun.So for those students who are taking economics or are going economics, this book helps ALOT.It covers the basics very well.

Make sure you buy the most updated edition though.This book was just updated last year, so beware of those 1st edition books because they're old.

Superb textbook
Easy and fun to use.Excellent blend of academia and real-life examples.Charts, graphs, and illustrations were colorful and easy to understand.Also, authors Hall and Liberman provide readers access to their macroeconwebsite for additional study. I used this text at thepostgraduate level -great for undergrads, too. ... Read more

Book Description

Comprehensive text with enough background material to refresh and reinforce earlier courses in corporate finance and enough advanced material to stimulate the most advanced learner.The predominant strengths of clarity, current coverage, and friendliness to learner and instructors continues in this new edition.Some of the areas where coverage has been expanded include corporate governance and reform, valuation, value based management, cash flow, and newly updated material on real options.The instructor's resources enable outstanding presentations and learning. ... Read more

Reviews (5)

One of the best Economic textbooks I've read
Heyne begins w/ the first principles of economics: how human beings interact on a mass scale, and the positive consequences of those actions, and the negative consequences of interferring w/ voluntary human interaction. He then carries the reader through the traditional economic concepts of Supply and Demand, Specialized Labor, Externalities...all focused through the lens of the "Economic Way of Thinking".

Make no mistake--this book is a substantive, philosophical refutation of "Statism". Heyne hits Comparative Advantage, Price Theory, Rule of Law, and Private Property hard (in the affirmative), and if you're for tariffs, regulated prices, arbitrary Gov't intervention, and public property, your views won't be validated. All the more reason for you to read this book, and understand why so many stamp their foot down against politicized economic policies that superficially sound and feel so good. Heyne's lesson is to think on a macro-scale, think about the unintended consequences of mass social change, for that is the Economic Way of Thinking.

Comparative Advantage in Price Theory
Heyne's text explains what it explains well. It is a good Freshman level price theory text. Its strengths are in explaining informational and coordination issues in markets. It does more to explain how the price system works as a communications network than any other text I have seen. It also explains the issues of property rights and transactions costs clearly.

When it comes to the public sector, it is vastly better than many other texts. There are other texts, like Gwartney and Stroup, and Ekelund and Tollinson, which are arguably better at explaining the public sector.

The biggest weaknesses of this book are in macro and international economics. Its chapters on money are ok, but it explains far too little about trade cycles. It has some good material on growth, but could explain more and in more detail. The chapter on international economics could go further as well. The shortcomings of this book likely reduce its sales. So, it seems that the marginal benefits of such revisions exceed their marginal costs.

Heyne is no longer around to revise this book, but the co-authors who took over for him could improve this book greatly for the next edition.

Outstanding
Dr. Heyne was an outstanding professor. In fact, the most memorable and influential of my college "career." You will understand from reading his books how brilliant he was.

Excellent
This book makes the complex subject of economics very easy to understand, and will cause you to think very differently about social issues. Paul Heyne is also one of the best teachers I've ever had.

Very usefull book. VERY USEFULL ONE!
If you need a textbook on Economic, and you do not know the theory, you HAVE to read it before you get started. It's also very usefull for businessmen. I've read it in Russian ... Read more

Book Description

Pricing, 3/e, synthesizes economic and marketing principles with accounting and financial information to provide a basis for analyzing pricing alternatives within legal and corporate constraints. This revision of this classic text brings readers an understandable writing style, a more complete discussion of the quantitative issues, and a greater number of clear-cut examples. The material on the economics of pricing now reflects recent research in pricing by applied economists and marketing researchers trained in economics. ... Read more

Book Description

Provides an overview of fixed-income markets and their derivative markets including treasury, corporate, agency, mortgage-backed securities and debt options, futures and swap markets.Helps the students understand the theory relevant to these markets enabling them to participate in a more intelligent and confident way as corporate customers, traders, bankers, or investors. ... Read more

Reviews (5)

BORING
If you want to waste your money then spend it on Sundaresan.
This book is highly disappointing. If your professor tells you buy it then you can tell him or her to .....
If you want to master fixed income securities, then you only need to purchase one and only one book, namely "Fixed Income Securities: Valuation, Risk Management, and Portfolio Strategies" by Martellini and Priaulet. That's the best book out there.

Much better books out there, Poorly written :(
Only a good book for reference. Difficult to understand author's explaination of analysis of Fixed Income products. Many instances key steps are skipped in problems used for examples. Look for an alternative.

Disappointing
I found this book to be of marginal usefulness. The writing style is not to the point and at times disorganized. The book does not come with spreadsheets despite all the screenshots in the chapters. What good is that? Additionally, it is quite expensive. There are other much better books out there for the same price.

A robust book that covers with breadth and detail
I had the pleasure of taking Professor Sundaresan's Debt Markets course at Columbia. He has tremendous experience in the marketplace. This book does a good job of covering the theory while also covering the practical aspects of the marketplace. One of my complaints is that some topics lacked a step-by-step approach, and you found yourself looking at a huge equation and wondering where it came from.

Hits: Duration, Convexity,Term Structure, Auctions, Treasuries, Corporates, Mortgages.

Misses: Futures, Unsightly 3-dimensional graphs

I also have Fabozzi's Handbook and Fabozzi's Bond Markets, Analysis and Strategies. This book is comparable to the latter.

technical book focused on the debt markets specificities
This very book provides a very objective detailed overview of the debt markets. The author is at his best discussing fixed income securities. Since it is the first edition, there are several minor technical mistakes which I am sure going to be corrected by the author in the second edition. I wish the author had focused more on the derivative side of the fixed income part of the paradise. I also expected to encounter more actual application coverage, i.e. hedging, speculation, arbitrage etc. One chapter in the end of the book encompassing advanced strategies with fixed income derivatives would be very helpful for various segments of readers. Otherwise, it is a very good non-textbook textbook. Vladi Shlepkov St.Petersburg, Russia ... Read more

Reviews (2)

Straightforward
The authors have put approached this topic in a step by step way. It explains important background topics as well. I bought this book for a class, so I really didn't have much choice in the matter. I expect that most buyers will do so for the same reason. To them, I say "don't worry about it," this won't hurt as much as you think." If you are considering this for pleasure reading, well, don't let me stop you.

Complete, Comprehensive, but lengthy
Probably one of the few only books available that talks about CBA. Lacks in real life examples, otherwise a good read for grasping basic concepts and tools. ... Read more

Reviews (5)

Dinosaurs Live!
This is one of the worst entry-level that I have ever seen. It is badlyorganized. The material on Macroeconomics precedes the material onMicroeconomics. It is out of date. Much of the content of this bookconsists of "Old Keynesian" economics of the 1950's that nobody-not even today's "New Keynesians"- believes in anymore. Theauthors briefly mention a few of the major changes in economic theory overthe past 30 years, but do a poor job of explaining these new and dominantconcepts. It is badly written. I have heard many students complain that itis a boring read, and that much of it is difficult to understand. It isunsophisticated and superficial. Its' muddled discussions lack depth, andfail to explore the subtleties of the faulty concepts it presents (this isthe best things about this book). In short, this text is an embarrassmentto the economics profession. The authors have failed to amend the contentof their text in response to advances in economic theorizing, and continueto organize their text in accordance with the faulty and discreditedKeynesian theories of the 1950's. If you must read this for a class,remember that its' content is as bad its' presentation.

Let's not sugar coat this review....
I can't believe after fourteen editions of this book, the quality is still so poor.First of all, this book is too simple even for a high school AP economics class (the one I'm in now).The examples are stuipid anduninteresting.Secondly, this book is difficult to read because of thefont type, the graphics and other things annoying to the eye.This meansreading this book will put a student to sleep.Thirdly, one look at thetable of contents will reveal that the book is totally out of order.Itjumps into macroeconomics without saying anything about supply and demandessential to microeconomics (that's later in the book).Lastly, readingthis book will not increase your knowledge of economics unless you attendthe lectures.So reading this book on your own will only make a vagueimpression of what's said but no understanding.So, teachers andprofessors, do your students a favor by choosing another textbook.

Average.
In my experience, students usually violently disagree on the quality and difficulty of this text. Predictably, the division goes something like this: Camp 1 - it's too difficult, in places there is not enoughexplanation, and the writing style is turgid. Camp 2 - it rambles on fortoo long on irrelevant issues, it does not provide all the necessaryformulae (let alone working out), and is basically high schoolmaterial.

In my opinion, there is truth in both camps' evaluations. Inplaces it does tend to ramble - especially with respect to boring examples,and it does not provide the necessary mathematical appendices for thosestudents going on to intermediate study. In addition to these (justified)student-based complaints, I have my own: the first chapter on methodologyis, as with just about every textbook written these days, pathetic. It doesno service to the discipline of economics to patronisingly peddle the linethat "economics is a science" when there is abolutely no evidenceof a properly developed (let alone explained) scientific approach beingused in the textbook itself. Introductory economics texts have to move intothe late 20thC and admit that economics is not infact a covert physicalscience, and further, does face serious methodological questions about whatit is actually capable of knowing. My other complaint is that there is nosystematic linking together of the microeconomic (quasi-)normative chapters(e.g. the economising problem, general equilibrium, functions ofgovernment, and the section on current social issues). A more coherentapproach that at least introduced students to Arrow, Rawls, Nozick and Senwould not only bring dispirate ideas neatly together, but would also supplystudents with a basic grounding in distributional theories of justice whichthey should encounter in more advanced subjects.

That said, somecriticisms are unwarranted. For example, I don't believe that the text is'too hard'. I have always found this complaint somewhat puzzling, giventhat it is probably the easiest text this side of the bombasically simple"Principles of Economics" by N. Gregory Mankiw. One suspects thatthis reaction is due largely to first year university students not havingmuch experience with economics texts (i.e., not realising that it only getsMUCH harder from first year onwards). Also, it must be said that on thewhole it is reasonably balanced in its political inclinations (in that itdoes not rant about the evils of trade unions or oligopolies). Finally,while the text does ramble, it is nonetheless well written. For the mostpart, those students coming to economics for the first time should havelittle difficulty in comprehending what is being articulated.

In thefinal analysis, the 'pros' and 'cons' balance each other out, making for aneminantly average textbook. This is not to say it's Bad - it's merely tosay that buying it will not set you 'afire with desire' to do moreeconomics...just like most textbooks currently on the market.

McConnell and Brue: Economics
An economists book that does little for the aspiring Economics student.The reader must have a background in Economics before reading this book, and should be accompanied by with a lecture when used for instructionalpurposes.It covers a great depth of economics knowledge that is uselessunless you are planning a degree in this field.Five stars for the"nose-in-the-book economist," and zero for he or she that wantsto learn a little more about econ.

One of the best books in Foreign Policies Problems
The best problem solver ever. GREAT!!! ... Read more

Book Description

This modern principles book has a strong foundation in demand and supply—the most important topic in learning principles of economics. Its improved coverage of change in demand vs. change in quantity demanded (also in supply coverage) enables learner to better visualize and truly understand the difference between these two fundamental concepts.A seven-part presentation covers an introduction and key principles; the basic concepts in macroeconomics; the economy in the long run; economic fluctuations; inflation, unemployment, and economic policy; and the international economy.For individuals using the tools of economics to help them grasp the logic of economic reasoning. ... Read more

Reviews (2)

Not perfect, but pretty good
The book is by no means perfect, but it's a darn good book. Its major imperfection is that many important concepts are spread around and not specifically brought to the forefront alone. Otherwise, though, it allows for a great foundation in Macroeconomics for your GECO 200 or equivalent class.

Macroeconomics: Principles & Tools Review
This book gives a great overview of the study of economics. I used it for an Introduction to Global Economics class in college and found it to be easy to read and understand. The information is extremely up-to-date, and is displayed not only through text, but by charts and graphs as well. There also additional materials (practice test questions, a CD rom, and a guide to researching economics on the internet) which accompany the text which are available as well. Overall, a great book for the study of basic economics! ... Read more

Book Description

Essentials of Economics is the market leader for the one-semester survey course.In just over 400 pages, it provides a solid introduction to the core concepts of economics with an emphasis on real-world examples and current events.Essentials has earned its popular success because, unlike other books on the market, it is free of the abstract and complex theory that require more time than this course allows.Instead, the text is clean and concise, with many examples of significance to students today, including Headlines and Policy Perspectives that use current events to help illustrate the topics discussed.This real-world policy emphasis is a distinctive feature of Schiller’s text and is integral to its dominance of the survey text market. ... Read more

Book Description

A market leader, this book has detailed but flexible coverage of options, futures, forwards, swaps, and risk managementas 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. ... Read more

Reviews (4)

A Must Have
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
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.
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.

Understanding Option Theories
This is a wonderful book to have on your shelf for any finance major looking for an understanding of options, futures, and other types of contracts sold in the OTC and exchange markets. The text is fairly easy to follow and provides good examples to help students understand the theories behind option and future markets.

However, I do not feel that this book is for just anyone. Without some financial background I think that this book can be difficult to follow. It is hard to understand the mathmatics behind the theories presented in the text. The diskette is also somewhat disappointing as an aid for understanding the material. The disk only gives Excel generated financial models that you find in the book such as the Black-Shcoles pricing model.

With a good professor, this is a wonderful aid in constructing a foundation for option investing and pricing. And even giving some of its downfalls I would still recommend buying this book. ... Read more