- Hardcover: 496 pages
- Publisher: Financial Times/ Prentice Hall; 1 edition (21 Dec 1994)
- Language English
- ISBN-10: 0273615920
- ISBN-13: 978-0273615927
- Product Dimensions: 23.8 x 16.2 x 3.6 cm
- Average Customer Review: 4.0 out of 5 stars See all reviews (1 customer review)
- Amazon Bestsellers Rank: 384,727 in Books (See Top 100 in Books)
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More About the Author
Product Description
Product Description
Financial Engineering is about using financial instruments to reduce or eliminate risk, or to restructure a financial exposure to improve its characteristics. This book shows how to apply the latest techniques by managing financial risks of all kind. The book carefully explains the tools of financial engineering and defines each instrument in depth. It describes the markets on which they are traded, and clearly illustrates how each product is priced and hedged. All applications are illustrated with fully-worked practical examples, and recommended tactics and techniques are "tested" by demonstrating the results with recent historical data. The book provides a solid understanding of the underlying theory as well as a clear demonstration of effective practice. The book:* clearly defines all the tools used in financial engineering* caefully explains instruments such as FRAs, financial futures, options, currency and interest-rate swaps, caps, floors, collars, corridors, swaptions, IRGs, SAFE's and many others* covers advanced products like barrier options, diff swaps, multi-factor and path-dependent options, leveraged floaters and other structured products* considers exactly how each one is used in practice* shows ways in which financial engineering techniques can be applied to manage risks in currencies, interest rates,equities and commodities.
About the Author
Lawrence Gallitz is a Director of ACF Consultans Ltd, and has extensive knowledge and expertise in the fields of banking and finance. He conducts seminars on wide-ranging topics throughout the world, and regularly undertakes specialised consultancy assignments for major banking clients. Dr Galitz was previously Associate Director of the Institute of European Finance, and was Director of Studies in the School of Accounting Banking and Economics at the University College of North Wales, Bangor.
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Customer Reviews
Most Helpful Customer Reviews
1 of 3 people found the following review helpful
Format:Hardcover
This book is very useful for me, a physicist, who likes to obtain general background in financial markets. It would be better if real contract details from markets are added and analysed.
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:
2 reviews
3 of 4 people found the following review helpful
Excellent Resource For Practical Financial Risk Management
22 Feb 2002
Format:Hardcover
This book emphasises the relationship between the debt and currency markets. This relationship can be summarized by the international fisher equation, however this book addresses topics that are typically not addressed in more theoretical texts. If you really want to understand how the international currency and debt markets operate on a practical level, including a rather comprehensive coverage of Swaps, Caps, Collars, FRAs, etc., then this book is a must. The mathematics in this book are rather simple and should pose no problem for a beginner or intermediate level student of finance.
Excellent Book and Worth Buying
23 July 1999
Format:Hardcover
This book is excellent for both academics and practitioners. Because of its low level of mathematics, it can be used at both the undergraduate and graduate levels. The exposition is clear and concise but not formal. The book covers a lot of ground and is written by an expert in the field. Almost each section has plenty of good real world examples. It can be used as an introductory reference to advanced topics such as interest rate option modelling and the Brace-Gatarek-Musiela Approach.
However, the book needs a new edition to include the latest topics in the modelling of interest rates. A visual basic computer disc for practice could improve the book considerably.
At less than $50 the price of the book makes it a bargain.
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