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Derivatives Demystified: A Step-by-Step Guide to Forwards, Futures, Swaps and Options (The Wiley Finance Series) Hardcover – 16 Jul 2010

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Product details

  • Hardcover: 288 pages
  • Publisher: John Wiley & Sons; 2nd Revised edition edition (16 July 2010)
  • Language: English
  • ISBN-10: 0470749377
  • ISBN-13: 978-0470749371
  • Product Dimensions: 17.5 x 2.3 x 25.1 cm
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (4 customer reviews)
  • Amazon Bestsellers Rank: 149,927 in Books (See Top 100 in Books)
  • See Complete Table of Contents

Product Description

About the Author

Andrew Chisholm, (London, UK) is an independent consultant providing derivatives and capital markets training services to the investment banking industry.  He has taught finance for major investment banks and portfolio management firms around the world since 1986 and was formerly head of training for JP Morgan in Europe. He was co–founder of Chisholm Roth and Company Ltd., a specialist in computer simulation–based training for traders, investors and risk managers in the capital markets industry. Andrew was educated at Edinburgh and Oxford Universities and Dartmouth College in the US and also has an MBA from the Warwick University Business School.


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Top Customer Reviews

Format: Hardcover
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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Format: Hardcover
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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Format: Hardcover
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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Format: Hardcover
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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Most Helpful Customer Reviews on Amazon.com (beta)

Amazon.com: HASH(0x90ca06f0) out of 5 stars 14 reviews
13 of 14 people found the following review helpful
HASH(0x90c8c60c) out of 5 stars Excellent update 15 Sept. 2010
By Timbers - Published on Amazon.com
Format: Hardcover
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 recommend the book for anyone who wants to get to grip with financial derivatives.
4 of 4 people found the following review helpful
HASH(0x90c8c684) out of 5 stars A Really Good Introduction to Derivatives 24 July 2012
By Howard - Published on Amazon.com
Format: Hardcover Verified Purchase
I used the prior edition of this book as the text for a law school course on derivatives and it worked very well. I have since recommended this book to students who wanted an introduction to the subject as well as to an instructor of a course on the taxation of financial instruments. It is an excellent introduction, well-written and easily understood.
2 of 2 people found the following review helpful
HASH(0x90d26dc8) out of 5 stars Great for beginners 4 Jan. 2012
By Jason R. Connell - Published on Amazon.com
Format: Hardcover Verified Purchase
"This book is great for people with little or no knowledge of derivative investment products. The author develops your understanding of these products through simple explanations and easy to understand investment strategy examples. I would highly recommend this book for anyone looking to further there understanding of these financial products."
5 of 7 people found the following review helpful
HASH(0x90dd7c6c) out of 5 stars Superior Product 25 April 2011
By Hodge - Published on Amazon.com
Format: Hardcover
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.

Derivatives Demystified: A Step-by-Step Guide to Forwards, Futures, Swaps and Options (The Wiley Finance Series)
HASH(0x9101d9e4) out of 5 stars Valuable for the appendix alone! If new to options trading, give it a read 19 Feb. 2014
By R. Garnica - Published on Amazon.com
Format: Hardcover
(Quickly: never took finance or accounting in college. I love math, but highest I took was pre-calc in high school. Never thought I'd be eager to read a book on derivatives yet here I am.)

I'm reading the first edition of this book. I got this from a friend of mine who had heard I was looking at whetting my appetite in the stock market. At first, I didn't think much of it since it seemed to fall into what I had dubbed at the time, "complex trading." (A phrase of mine.)

During more research with regards to the market, I came across covered call writing, which is one way of hedging with options. Look Alan Ellman on this. He's got great tutorials online and a slew of books on the subject.

I knew this book had a section on options and boy, does it have a section on options. Granted, it provides a nice overview in theory. Heck, all of these books are in theory until they're history books about how people misapplied those theories. But, the author does so with a clear prose that's accessible and does not leave you feeling stupid. Also, the book is guided to that in the options section, he does not bring up futures or swaps. Each aspect of derivatives gets its own set of chapters so you can dive in on the topic you'd like to learn/refresh.

It's not dumbed-down, mind you. For me, it takes several readings of some paragraphs to let this sink in. But, anyone with the wherewithal to learn this can do so. For those in the finance industry, it will add as a nice reference book to help gather thoughts that a busy life sends into disarray--a refresher, as it were.

What helped me out and what I loved was the appendix with the mathematical calculations. I'm sure I could have found that on the net, but, who knows, it could be wrong info with even worse instructions. This way, I'm good, and I get a nice explanation and examples.

Good investment to have in your arsenal.
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