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7 of 7 people found the following review helpful
on 14 April 2011
This is a bit different from some of the other books around on this subject. Physically, it is a well-produced hardback rather than a paperback, though selling at a reasonable price. (I see there is also a Kindle edition out now.) The content can be read by anyone with an interest in finance and avoids complex mathematics by using lots of simple examples. It follows a logical sequence: 'step-by-step' as it says in the title. Overall a great introduction and easy to follow.
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5 of 5 people found the following review helpful
on 9 September 2010
I have a copy of the first edition but this is a great update. It starts from basics and is very easy to follow. It then covers a lot of ground, including the more exotic options and products such as CDOs, but always in a very clear way. I would thoroughly recommned the book for anyone who wants to get to grip with financial derivatives.
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1 of 1 people found the following review helpful
If you've read John Hull's Options, Futures and Other Derivatives and found it difficult to understand then this book may be for you. Focused on the various products that make up the derivatives marketplace (both exchange-listed and over-the-counter) this book provides a general introduction to the marketplace and is useful to someone new to the industry. It's also good for people familiar with some aspect of the market and wanting to further their understanding.

Each chapter refers to a particular aspect of the market and an example scenario is given which is worked through the chapter. This helps the reader understand why a particular product may be traded but is general enough to be relevant for any reader. In terms of detail, enough is provided but this is not as strong a reference as Hull's book I mentioned earlier. For example, Black-Scholes method for options pricing is described in good detail but not as much as other references.

For me this is an excellent book to broaden your knowledge and increase your understanding. I would recommend reading it alongside the Hull book as it means you can combine both books to get the greater knowledge but perhaps use this one as a starting point.

The only negative I would say about this book is that it is a little US-centric with its descriptions, although given the main derivatives exchange is American this isn't that much of a criticism.
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7 of 8 people found the following review helpful
on 31 July 2010
I am a big fan of Chisholm's books and judging from the favourable reviews from the first edition and his 'Introduction to capital markets' that sentiment is shared by many. There is no waffle here just clearly explained concepts that cover the major derivative markets. There is no 'geeky' mathematics as any numerical examples are relevant and clearly laid out.

This is a comprehensive guide that will answer most readers' queries without having to refer elsewhere.
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