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3 of 3 people found the following review helpful
5.0 out of 5 stars Simply The Best
This is simply the best book on the mathematics of derivative products that there is. This vast (yet incredibly cheap) tome explains how to value an enormous range of derivative products in a simple, direct, witty and mathematically satisfying way. I teach a final year University course in this subject and there is no better book than this. Granted, I only use the first...
Published on 12 Jan 2001

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5 of 6 people found the following review helpful
3.0 out of 5 stars Wide but lopsided coverage
Paul Wilmott's book has an impressive but lopsided coverage. Paul is clearly an expert in numerical solutions of Partial Differential Equations (with a leaning towards non-linear ones, I would guess) and this topic does find useful applications in derivatives valuation. His expositions of techniques and concepts in this area is lucid and helpful. Unfortunately the...
Published on 1 Sep 2000


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3 of 3 people found the following review helpful
5.0 out of 5 stars Simply The Best, 12 Jan 2001
By A Customer
This review is from: Derivatives: The Theory and Practice of Financial Engineering (Paperback)
This is simply the best book on the mathematics of derivative products that there is. This vast (yet incredibly cheap) tome explains how to value an enormous range of derivative products in a simple, direct, witty and mathematically satisfying way. I teach a final year University course in this subject and there is no better book than this. Granted, I only use the first 50 pages or so of the book, and do not really exploit the depth of the book at all. But for practitioners, students, postgraduates, traders and anybody interested in how to value derivatives PROPERLY it's a must-buy.
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2 of 2 people found the following review helpful
5.0 out of 5 stars This book got me a job!, 25 Oct 2000
By A Customer
This review is from: Derivatives: The Theory and Practice of Financial Engineering (Paperback)
As maths textbooks go it's very easygoing and informative. And it gave me enough background in a couple of hours to land a job trading derivatives... brilliant! Some people find it a bit mathematical, but derivatives are, and I feel that without the mathematical background you'll struggle to deal derivatives anyway. Try it - the maths is much more accessible than most such books.
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2 of 2 people found the following review helpful
4.0 out of 5 stars Read on ..., 16 Aug 1999
By A Customer
This review is from: Derivatives: The Theory and Practice of Financial Engineering (Paperback)
This is a strange book. On the one hand, it gives the reader a wide perspective on the theory of financial derivatives. For the novice reader, or even for the expert seeking to expand his horizons, it can be recommended wholeheartedly. Nowhere else can you find such a comprehensive introduction, in such an easy style. However, promising everything, it falls short on delivery. Just as you begin to get interested, the text simply gives up on you. I mean that it's woefully short on detail, and doesn't get you anywhere near the level of "practice" as the title promises. It's more of a "handbook" than anything else. Buy the book, it's great, but get Rebonato and Musiela-Rutkowski aswell ... you'll still need them.
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2 of 2 people found the following review helpful
5.0 out of 5 stars One of the Greatest Books on Implementing Derivatives Models, 16 April 1999
By A Customer
Paul Wilmott has written one of the most comprehensive books on derivative models. The book includes numberous C, Excel spreadsheet, and Matlab examples. The best feature is that the author writes clearly and explains all of the math and steps involved - too many other authors make too many assumptions about what the reader knows and write books which can only be understood by other Ph.D's. Wilmott's book is a great book for both students and practitioners.
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1 of 1 people found the following review helpful
5.0 out of 5 stars The Mother of All Derivatives Books, 23 Sep 1999
By A Customer
The Mother of All Derivatives Books I spent a fortune out of my meager salaries, buying derivatives and financial engineering books for the past 5 years. This book could replace all of them and more. I wish I had known about this book before. I recommend this book to anyone who is a serious student of derivatives.
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5 of 6 people found the following review helpful
3.0 out of 5 stars Wide but lopsided coverage, 1 Sep 2000
By A Customer
This review is from: Derivatives: The Theory and Practice of Financial Engineering (Paperback)
Paul Wilmott's book has an impressive but lopsided coverage. Paul is clearly an expert in numerical solutions of Partial Differential Equations (with a leaning towards non-linear ones, I would guess) and this topic does find useful applications in derivatives valuation. His expositions of techniques and concepts in this area is lucid and helpful. Unfortunately the 'martingale revolution' seems to have by-passed him altogher. Not only he avoids probabilistic techniques and jargon in his treatment (this could be an intelligent choice), but he gives far too scant treatment to very important related concepts - such as the change of numeraire - which have very powerful practical applications and are coneptually very far reaching. Similalry, the treatment of interest rate models is far too centered on the 'traditional' approaches, to the detriment of a serious analysis of such approaches as the BGM (in this context, I found his dismissive commnents about his colleagues in poor taste). The book would have been very good in the early 90s. Finance has moved on too much, though, for such as weeping title as 'Derivatives' to be warranted today.
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4.0 out of 5 stars Great Reference book for Derivatives, 31 Jan 2000
By A Customer
This review is from: Derivatives: The Theory and Practice of Financial Engineering (Paperback)
Wilmott's book assumes a certain level of knowledge (both mathematical and financial) but covers subjects at a level appropriate to people working in the industry. I found this a great source for as someone in the IT industry wanting to improve their financial knowledge. Loses a point for poor indexing - most info is there but you need yo dig for it!
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5.0 out of 5 stars fascinating for anyone interested in markets, 25 Aug 1999
By A Customer
This review is from: Derivatives: The Theory and Practice of Financial Engineering (Paperback)
Even though it has a forbidding and dry title, this book is great fun to read. The author, a renowned finance guru, explains with clear examples. He has a knack for spicing up the most sleep-inducing topics. He covers a lot of ground in one book so that you only need to buy this one book and then you will be all set. Basically, good value for money and a good read.
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5.0 out of 5 stars Excellent, 6 May 1999
By A Customer
This review is from: Derivatives: The Theory and Practice of Financial Engineering (Paperback)
A comprehensive textbook on all issues in stochastic derivatives pricing, covering every product, area and technique with further references to other sources. By far the best, most complete and most clearly written account of the subject matter I have read.
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5.0 out of 5 stars remarkable & immensely enjoyable, 9 Mar 1999
By A Customer
a beautiful book indeed and a must-have on anyone's shelf. It is always a pleasure for cartesian-minded people like me to read such a book, where everything is built from first principles. Very clear exposition and very rigorous (despite the author's self deprecating commments), at least much more rigorous than a lot of wordy books out there on the same subject. Dynamic hedgers will love the 2 or 3 chapters about modified Deltas due to discrete hedging, transaction cost or jump processes. In its scope and breadth, is reminiscent of such classics as Jackson's Classical ElectroDynamics or Weinberg's Gravitation and Cosmology, even though the field of Financial Engineering still has some catch-up to do with such elders.
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Derivatives: The Theory and Practice of Financial Engineering
Derivatives: The Theory and Practice of Financial Engineering by Paul Wilmott (Paperback - 20 Oct 1998)
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