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Options, Futures and Other Derivatives: AND Stock-Trak Access Card Hardcover – 29 Sep 2005


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Product details

  • Hardcover
  • Publisher: Prentice Hall; 6 edition (29 Sept. 2005)
  • Language: English
  • ISBN-10: 1405832908
  • ISBN-13: 978-1405832908
  • Product Dimensions: 20.9 x 3.5 x 25.9 cm
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (2 customer reviews)
  • Amazon Bestsellers Rank: 7,427,836 in Books (See Top 100 in Books)

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featured in 5 of the best -- Quality World, November 2006 --This text refers to an out of print or unavailable edition of this title.

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3 of 3 people found the following review helpful By Marcus C Richardson on 8 Feb. 2013
Format: Hardcover Verified Purchase
Well written, clear examples. It is a great foundation for understanding derivatives.

Note of caution: You need to have a good understanding of mathematics as it assumes good knowledge of differentiation. I would suggest you pair this book with a financial mathematics text book.
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13 of 19 people found the following review helpful By Dr. Pedro L. Moran-Raschio on 11 Nov. 2005
Format: Hardcover
One of the perls in my collection. Without doubt, everything that need to be known. Each chapter is organized as a masterclass: a theorical description, an explanation and some examples. I had few other books on the same subject (9) and I sold them because this is the best and the rest is repetition. I combine this with Stochastics Calculus and Financial Applications (ISBN: 0387950168) which is more academic (theorical, plenty of lovely formulas). A must combination in derivatives and futures. See my other reccomendations for English for foreigns, Latin, Maths, Medicine and Economics.
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Most Helpful Customer Reviews on Amazon.com (beta)

Amazon.com: 19 reviews
13 of 15 people found the following review helpful
Best Introductory book for Quantitative Finance 8 Aug. 2006
By Finengineer - Published on Amazon.com
Format: Hardcover
Hull is the one stop shop for learning (and using as a reference once you have learnt "it") almost any topic in Quant Finance. This book really has it all - options, interest rate models, volatility modeling, credit derivatives, you name it. However, use it as an introductory book - learn the main concepts from here and then move on to advanced books. As a current student of quant finance, I find Hull's book to be indispensable.
5 of 5 people found the following review helpful
Great intro 25 April 2008
By wiredweird - Published on Amazon.com
Format: Hardcover Verified Purchase
I started not knowing a "put" from a "call," but I needed to know a fair bit about how financial engineers (coming from a family of PEs, I'm still not used to that term) use math. This has been the introduction I wanted - not the advanced stuff, but enough to help me understand that material.

Methodical pacing leads the reader gradually through the basics, from just what a derivative is on through the brief story of how futures markets work - in short, they abstract buying and selling into buying and selling the right to buy and sell. I tend towards the concrete, so many of these transactions seemed a bit airy to me. Oh, I can follow the reasoning well enough, but I just never saw where the satisfaction of the thing solid and completed comes in. As it turns out, it doesn't. Once you've really got that in the pit of your stomach, then Hull's presentation follows smoothly.

He gradually derives models of increasing complexity. Diligent reader with a little calculus or a lot of trust will follow along easily. Later chapters draw on more advanced concepts in probabilistic modeling, but present the reader with only the aspects needed for the discussion at hand - a mercy, considering the size of the specialized vocabulary involved in the rest of the explanation.

This book ends when the foundation has been built. More advanced needs must be met with other sources - not a problem with this text, just a matter of its chosen scope. I needed that foundation, however, so I recommend this book to anyone with reasonaable math skills and a need to know the material.

-- wiredweird, reviewing the 6th edition
4 of 4 people found the following review helpful
Excellent book for beginners in financial engineering 30 Mar. 2008
By T. H. Wee - Published on Amazon.com
Format: Hardcover
I started a course in Financial Engineering last year and this book has given me all the grounding I need.

Pros:

* Very in-depth treatment of derivative basics, e.g. call, puts, swaps, forwards, futures.
* Many, many examples to complement the material.
* Many good practice problems to help further your understanding.
* Covers binomial, Monte Carlo and Black Scholes pricing of options very well
* Industry standard textbook - all the professionals use it.

I can't think of many negatives for the book. So if you're a student of finance, go get this book!
6 of 8 people found the following review helpful
Best Introductory Book on Mathematical Finance 1 Dec. 2006
By A Reader - Published on Amazon.com
Format: Hardcover
The great strength of this book is its clarity of exposition. Basic principles of derivatives theory, such as no-arbitrage pricing and risk-neutral valuation, are presented in a completely intuitive way. The mathematical apparatus used is systematically stripped down to its essentials, which allows the reader to quickly grasp the key assumptions underlying various models without becoming bogged down in excessive rigor. Those interested in a deeper understanding of the technical details will in any event soon realize that they need to obtain specialized training in mathematics and statistics. Neftci's Introduction to the Mathematics of Financial Derivatives provides a good overview of the relevant topics; and there are any number of excellent mathematics texts that can be consulted for a fully rigorous exposition. Hull's book also provides a good introduction to the structure of derivatives markets in the US. However, readers will not find much information on how derivatives trading operations are organized, and on how traders apply quantitative techniques in their day-to-day operations. Derman, in his memoirs, gives a good flavor of the state of play through about 2003.
1 of 1 people found the following review helpful
One of the most important book in finance 15 Oct. 2009
By Alessandro Caprettini Facchini - Published on Amazon.com
Format: Hardcover Verified Purchase
Thi book is a "compendium" of the most important issues in finance. It's clear, both theoric and practical, very useful for students and workers
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