The book is a step–by–step guide to derivative products. By distilling the complex mathematics and theory that underlie the subject, Chisholm explains derivative products in straightforward terms, focusing on applications and intuitive explanations wherever possible. Case studies and examples of how the products are used to solve real–world problems, as well as an extensive glossary and material on the latest derivative products make this book a must have for anyone working with derivative products.
Derivatives Demystified
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From the Inside Flap
Derivatives Demystified follows a sequence that is designed to show that, although there are many applications of derivatives, there are only a small number of basic building blocks, namely forwards and futures, swaps and options. The book shows how each building block is applied to different markets and to the solution of various risk management and trading problems. Thoroughly up–to–date, the author includes explanations of later–generation products such as barrier options, cliquets and choosers. There are also sections on credit default and equity swaps and there are full chapters devoted to convertible and exchangeable bonds and to structured products such as equity–linked notes and bonds issued through synthetic securitization. The final chapter has information on the financial calculations that underpin the derivatives market, for those who wish to explore this topic.
From the Back Cover
Derivatives are everywhere in the modern world and it is important for everyone in banking, investment and finance to have a good understanding of the subject. Derivatives Demystified provides a step–by–step guide to the subject, enabling the reader to have a solid, working understanding of key derivative products. Adopting a highly accessible approach, the author explains derivative products in straightforward terms and without the complex mathematics that underlie the subject, focusing on practical applications, case studies and examples of how the products are used to solve real–world problems. Derivatives Demystified follows a sequence that is designed to show that, although there are many applications of derivatives, there are only a small number of basic building blocks, namely forwards and futures, swaps and options. The book shows how each building block is applied to different markets and to the solution of various risk management and trading problems. Thoroughly up–to–date, the author includes explanations of later–generation products such as barrier options, cliquets and choosers. There are also sections on credit default and equity swaps and there are full chapters devoted to convertible and exchangeable bonds and to structured products such as equity–linked notes and bonds issued through synthetic securitization. The final chapter has information on the financial calculations that underpin the derivatives market, for those who wish to explore this topic. Derivatives Demystified is essential reading for everyone who operates in the financial markets or within the corporate environment who requires a good understanding of these important financial instruments.
Inside This Book
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First Sentence
A derivative is an asset whose value is derived from the value of some other asset, known as the underlying. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index
A derivative is an asset whose value is derived from the value of some other asset, known as the underlying. Read the first page
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Browse Sample PagesConcordance
Front Cover | Copyright | Table of Contents | Excerpt | Index
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Customer Reviews
Most Helpful Customer Reviews
9 of 9 people found the following review helpful
Format:Paperback
I have not yet completed this book - however, as someone outside of finance wanting to bridge a gap of knowledge in this area, I found this book to be the only one written in a clear and concise manner.
I've only had to re-read a couple of early sections to get over confusion and in the main found most topics sunk in pretty quickly.
In terms of pages for money, it's expensive. However, I'd rather pay for this and understand what's going on than have a 1000 page monster that serves as nothing more than confusion.
Would highly recommend this to anyone wishing to get an understand of derivatives and it's associated products. The fundamentals are actually clear once they sink in and you soon see how they relate to trading in the real world.
I've only had to re-read a couple of early sections to get over confusion and in the main found most topics sunk in pretty quickly.
In terms of pages for money, it's expensive. However, I'd rather pay for this and understand what's going on than have a 1000 page monster that serves as nothing more than confusion.
Would highly recommend this to anyone wishing to get an understand of derivatives and it's associated products. The fundamentals are actually clear once they sink in and you soon see how they relate to trading in the real world.
17 of 18 people found the following review helpful
By A Customer
Format:Paperback
This is a really good introduction to derivative products. I have tried a lot of other books in this field and ended up thinking that they were far too complicated and obscure. This book is written in a very clear and simple way, and finally I have a real understanding of what is going on derivative products, a subject I need to understand for my job in banking.
14 of 15 people found the following review helpful
Format:Paperback
This book cuts through the jargon and the mystique surrounding derivatives. It explains the essentials in a very simple and intuitive way, with lots of examples and cases. The writing style is very polished. I would strongly recommend it to people working in banking and financial services generally. It would also serve as a good introductory text on options and derivatives for students.
3 of 3 people found the following review helpful
By Timbers
Format:Paperback
I struggled over this subject for a long time but this book really helped me to get to grip with derivatives. It uses a sort of case study method based on lots of examples to show how derivatives are used in practice. Thoroughly recommended.
1 of 1 people found the following review helpful
Format:Paperback
This book starts from explaining major types of derivatives, then moves to risks addressed (IR, FX, etc.) and OTC/exchange traded. Then in several chapters it step by step explains greeks and trading/hedging strategies and ends with chapter on structured products. The book is full of examples and moves from simple to not so simple.
I highly recommend this book to everyone who wants to understand derivatives. Wiley Finance series is very diverse in quality and this book is one of the best - no irritating errors, very well structured. Author is lecturing on the subject for many years and you can feel that the book is built on this experience and feedback from numerous participants. It is very likely that you will find answers to your questions.
The only minor disadvantage is that it is slightly outdated. Second edition is out in July 2010!
I highly recommend this book to everyone who wants to understand derivatives. Wiley Finance series is very diverse in quality and this book is one of the best - no irritating errors, very well structured. Author is lecturing on the subject for many years and you can feel that the book is built on this experience and feedback from numerous participants. It is very likely that you will find answers to your questions.
The only minor disadvantage is that it is slightly outdated. Second edition is out in July 2010!
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