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An Introduction to Derivative Securities, Financial Markets, and Risk Management : Includes a Special Supplement on the Indian Subcontinent

An Introduction to Derivative Securities, Financial Markets, and Risk Management : Includes a Special Supplement on the Indian Subcontinent

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Written by two of the most distinguished finance scholars in the industry, this introductory textbook on derivatives and risk management is highly accessible in terms of the concepts as well as the mathematics.With its economics perspective, this rewritten and streamlined second edition textbook, is closely connected to real markets, and: Beginning at a level that is comfortable to lower division college students, the book gradually develops the content so that its lessons can be profitably used by business majors, arts, science, and engineering graduates as well as MBAs who would work in the finance industry.

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About the Book

This is a superb book for many reasons but the most important one is it makes you think properly about Derivatives and Financial Markets. Since Hull's book is considered as the "bible" in many business school, I would like to mention some characteristics that you have here and not in Hull's book, of course in my opinion: 1. The book is concise(despite being thick), gives lots of examples, including case studies and industry examples. 2. Covers firstly equity derivatives and then moves into interest rate derivatives (HJM), and who else to teach the HJM model better than it's creator Prof. Jarrow. 3. The book covers the usage of Models. We all know that BS is strongly rejected by Market Data, why do we still use it, then. In Hull's it says, well because that's what practice does. First time I read it from Hull, it didn't make sense to me. In this book it covers why the model can still be applied and in what cases (used as a statistical model), but don't hedge with it in the normal sense, since the theoretical model was rejected by market data. 4. Market manipulation is covered and what to do with the models if you believe market manipulation is present and how to see that 5. Price Bubbles. Prof. Jarrow has been doing research in the last 10 years about Price Bubbles and he talks about the validity and usage of models when you can see price bubbles in the market (see = advanced statistical tools of checking market assumptions) Overall, I am very happy with this book, and I am glad I bought and it's on my book shelf.


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Product Details
  • ISBN-13: 9788130923390
  • Publisher: W W Norton & Company
  • Binding: Paperback
  • Language: English
  • Weight: 449.06 gr
  • ISBN-10: 8130923394
  • Publisher Date: 2016
  • Height: 109.982 mm
  • No of Pages: 880
  • Width: 110 mm

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    An Introduction to Derivative Securities, Financial Markets, and Risk Management : Includes a Special Supplement on the Indian Subcontinent
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