- Hardcover: 416 pages
- Publisher: Harvard Business School Press (30 Jan 1996)
- Language English
- ISBN-10: 0875845606
- ISBN-13: 978-0875845609
- Product Dimensions: 24.3 x 19.6 x 3 cm
- Amazon Bestsellers Rank: 1,690,581 in Books (See Top 100 in Books)
- See Complete Table of Contents
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Product Description
Product Description
The growth of derivative markets during the past decade has been nothing short of astounding and so, of late, has been the misunderstanding of their use. This book is the definitive resource on derivatives. It is the first to explain all four major classes of derivative instruments - options, futures, interest rate swaps, and mortgage securities - in terms of their market structure, applications, and pricing, with a focus on the valuation methods used most commonly by professional market participants. Unlike most treatments of derivatives, this book offers detailed explanations of the institutional procedure and market practice for each class of derivative as well as the pricing and hedging of mortgage-backed securities and the central role of prepayment in both activities. It also covers a wide variety of topics such as the structuring of CMOs, PACs, and TACs; smile option pricing; and pricing and hedging of long-dated swaps.
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5 reviews
9 of 9 people found the following review helpful
EXCELLENT AND IN PATCHES OUTSTANDING
8 Aug 2000
Format:Hardcover
This book is an excellent resource for beginning and intermediate level fund managers who want to understand the derivatives to be able to use them in risk hedging and income maximization.
The book is excellently organized in four sections and each section is self sufficient. Each of the sections begin with basics, illustrates the concepts with example, introduces the mathematics of pricing and methodology of hedginag of risks
Every section has also a nice subsection on terminology and definitions.
The book is an excellent attempt to explain a highly technical and complex subject.The section on Interest Rate swaps is outstanding. A must read for all corporate money managers and a must addition to all financial libraries.
4 of 5 people found the following review helpful
He knows how to design derivatives and make them work
28 July 2003
Format:Hardcover
I am completely satisfied with this book. He knows how to design derivatives and make them work. This book does a remarkable job of explaining the theory and practice of derivative securities.
1 of 2 people found the following review helpful
Very good Book for a practitioner
9 Dec 2005
Format:Hardcover
I found the book very useful in practice. It gave you a lot of details.
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