3 of 3 people found the following review helpful
Excellent introduction and reference to derivatives (listed and off-exchange),
This review is from: Derivatives Demystified: A Step-by-Step Guide to Forwards, Futures, Swaps and Options (The Wiley Finance Series) (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.
Derivatives Demystified: A Step-by-Step Guide to Forwards, Futures, Swaps and Options (The Wiley Finance Series)(5 customer reviews)