- Hardcover: 344 pages
- Publisher: John Wiley & Sons (20 Aug 2004)
- Language English
- ISBN-10: 0470853328
- ISBN-13: 978-0470853320
- Product Dimensions: 25.2 x 16.9 x 2.4 cm
- Amazon Bestsellers Rank: 1,366,072 in Books (See Top 100 in Books)
- See Complete Table of Contents
An Arbitrage Guide to Financial Markets
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Product Description
Product Description
An Arbitrage Guide to Financial Markets is the first book to explicitly show the linkages of markets for equities, currencies, fixed income and commodities. Using a unique structural approach, it dissects all markets the same way: into spot, forward and contingent dimensions, bringing out the simplicity and the commonalities of all markets. The book shuns stochastic calculus in favor of cash flow details of arbitrage trades. All math is simple, but there is lots of it. The book reflects the relative value mentality of an institutional trader seeking profit from misalignments of various market segments.
The book is aimed at entrants into investment banking and dealing businesses, existing personnel in non–trading jobs, and people outside of the financial services industry trying to gain a view into what drives dealers in today’s highly integrated marketplace. A committed reader is guaranteed to leave with a deep understanding of all current issues.
"This is an excellent introduction to the financial markets by an author with a strong academic approach and practical insights from trading experience. At a time when the proliferation of financial instruments and the increased use of sophisticated mathematics in their analysis, makes an introduction to financial markets intimidating to most, this book is very useful. It provides an insight into the core concepts across markets and uses mathematics at an accessible level. It equips readers to understand the fundamentals of markets, valuation and trading. I would highly recommend it to anyone looking to understand the essentials of successfully trading, structuring or using the entire range of financial instruments available today."
—Varun Gosain, Principal, Constellation Capital Management, New York
"Robert Dubil, drawing from his extensive prior trading experience, has made a significant contribution by writing an easy to understand book about the complex world of today’s financial markets, using basic mathematical concepts. The book is filled with insights and real life examples about how traders approach the market and is required reading for anyone with an interest in understanding markets or a career in trading."
—George Handjinicolaou, Partner, Etolian Capital, New York
"This book provides an excellent guide to the current state of the financial markets. It combines academic rigour with the author’s practical experience of the financial sector, giving both students and practitioners an insight into the arbitrage pricing mechanism."
—Zenji Nakamura, Managing Director, Europe Fixed Income Division, Nomura International plc, London
From the Inside Flap
"This is an excellent introduction to the financial markets by an author with a strong academic approach and practical insights from trading expereince. At a time when the proliferation of financial instruments and the increased use of sophisticated mathematics in their analysis, makes an introduction to financial market intimidating to most, this book is very useful. It provides an insight into the core concepts across markets and uses mathematics at an accessible level. It equips readers to understand the fundamentals of markets, valuation and trading. I would lighly recommend it to anyone looking to understand the essentials of successfully trading, structuring or using the entire range of financial instruments available today." Varun Gosain, Principal, Constellation Capital Management, New York.
Inside This Book
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First Sentence
Financial markets play a major role in allocating wealth and excess savings to productive ventures in the global economy. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index
Financial markets play a major role in allocating wealth and excess savings to productive ventures in the global economy. Read the first page
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Concordance
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Front Cover | Copyright | Table of Contents | Excerpt | Index
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3 reviews
15 of 17 people found the following review helpful
Excellent undertaking!
27 Dec 2004
Format:Hardcover
Probably the single best introduction to financial markets' mechanics. The complex workings of the financial world are decomposed into simple building blocks, that have their foundation upon the principle of risk-sharing. Maybe of all books about hedge fund strategies, this is one of the clearest and most useful expositions of the principles upon which absolute return strategies are based - even though it has no magic 'hedge fund' words in its title to capture the reader's attention. Amid a flood of useless marketing stuff about hedge funds (including some of the works of Dr. Nicholas) and extremely boring expositions of minute details about the institutional and regulatory details of various markets this is a very good achievement indeed. Although truly sophisticated readers would probably want to look elsewhere, this book gives you something essential, which painfully misses from many fields of modern knowledge - a broad picture, without which we risk not to see the wood for the trees.
3 of 5 people found the following review helpful
Comprehensive Intro with Excellent style
27 Aug 2008
Format:Hardcover
A very clear way of presenting the complex material. This is my favorite book with advanced coverage. Author uses a lot of examples with actual numbers so that it's easier to understand what the numbers are and what they mean.
3 of 14 people found the following review helpful
An excellent book by a well known professional
14 April 2005
Format:Hardcover
From someone who not only read the book but also worked for the author in the risk management field, I highly recommend this book, specifically for the clarity of style and good explanations.
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