The only comprehensive reference encompassing both traditional and new derivatives and financial engineering techniques
Based on the author's hugely successful Derivatives: The Theory and Practice of Financial Engineering, Paul Wilmott on Quantitative Finance is the definitive guide to derivatives and related financial products. In addition to fully updated and expanded coverage of all the topics covered in the first book, this two-volume set also includes sixteen entirely new chapters covering such crucial areas as stochastic control and derivatives, utility theory, stochastic volatility and utility, mortgages, real options, power derivatives, weather derivatives, insurance derivatives, and more. Wilmott has also added clear, detailed explanations of all the mathematical procedures readers need to know in order to use the techniques he describes.
Paul Wilmott, Dphil (Oxford, UK), is one of Europe's leading writers and consultants in the area of financial mathematics. He is also head of Wilmott Associates, a leading international financial consulting firm whose clients include Citibank, IBM, Bank of Montreal, Momura, Daiwa, Maxima, Dresdner Klienwort Benson, Origenes, and Siembra.
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In this two-volume work Paul Wilmott, described by the Financial Times as a "cult derivatives lecturer", updates and extends - with 18 new chapters - his earlier classic Derivatives: The Theory and Practice of Financial Engineering (also published by John Wiley). The new material includes chapters on technical trading, volatility modeling, utility theory, trader options, modeling dividends, real options, energy derivatives and analysis of recent derivatives-led fiascos.
Throughout the book's incredibly wide breadth, the author presents to the reader all current financial theories in a manner designed to make them easy to understand and implement. The reader will discover what the author thinks of certain theories, and where an existing concept is dismissed as impractical or unworkable it is always replaced with one of the author's own, alternative theories. Reviews of Derivatives: The Theory and Practice of Financial Engineering.
"It is a serious work that takes the reader all the way from the simplest of notions to the most complicated of recent models. In short, it is the most comprehensive and up-to-date textbook on options that I have seen ... The style is jocular, but the content heavyweight. The aim is to use a mathematical approach at all times but to motivate the development of models with intuition and to use diagrams and spreadsheet solutions whenever possible. It sounds like an impossible mission. Whoever heard of a mathematician who could convey the intuition of a result to those with a less complete training in the subject? Wilmott is an exception: he knows when a result is hard to understand and treats the reader in a sympathetic manner. ... I cannot imagine any derivatives specialist in an investment bank who would not want to have the book available." The Times Higher Educational Supplement.
"...this book has all the qualities necessary to attract impulse buyers expecting the novel which does for/to high finance what Malcolm Bradbury's 'The History Man' does for/to literary academia. ...What the reader gets is a text which will probably come to rank alongside Fabozzi's collected works of Leibowitz as a comprehensive practical reference source for finance theory." Futures and OTC World "Paul Wilmott has succeeded in simplifying the mathematics of financial engineering and he deserves praise for that. Unlike any other mathematical texts, the book uses a crisp and accessible language, relying on plain calculus and avoiding unnecessary formalism of topology and measure theory. It is rich in illustrations and graphs, making it easy for someone with limited maths to understand." --Risk Magazine.
"Paul Wilmott has produced one of the most exciting and classic reference volumes on derivatives which is a must for both students, practitioners, risk managers and the misunderstood."-- Global Trading. Volume 1: This first volume of Paul Wilmott on Quantitative Finance incorporates Parts I-III of this two-volume, seven-part publication. This new book by Paul Wilmott is an extensively updated and expanded edition of the bestselling Derivatives: The Theory and Practice of Financial Engineering. The first third of this volume (introducing the classic financial and mathematical concepts) remains largely the same as in Derivatives, with the remaining two-thirds incorporating the majority of the updating and expansion, plus the addition of a number of completely new chapters, including: Technical methods for predicting market movement Utility theory Derivatives and stochastic control The exercise of American options at non-optimal times Stochastic volatility and mean-variance analysis Dividend modeling.
The author has included numerous Bloomberg screen dumps to illustrate in real terms the points he raises, together with essential Visual Basic code, spreadsheet explanations of the models, the reproduction of termsheets and option classification tables. In addition to the practical orientation of his new publication the author himself also appears throughout the text - in cartoon form only, many readers will be relieved to hear - to personally highlight and explain the key sections and issues discussed. And if that wasn't enough, there is also a movie quiz hidden within the pages...
Volume 2 This second volume of Paul Wilmott on Quantitative Finance incorporates Parts IV-VII of this two-volume publication. Throughout this volume, many of the chapters which also appeared in the first edition - Derivatives: The Theory and Practice of Financial Engineering - have been extensively expanded and updated and in addition there are 11 completely new chapters, including: Mortgage-backed securities Pricing and optimal hedging of derivatives Increased uses of non-probabilistic interest-rate models Valuing a firm and the risk of default An analysis of financial crashes The modeling of bonus compensation for traders Real options Energy derivatives.About the Author:
Paul Wilmott is one of the world's leading experts on quantitative finance and derivatives. He is renowned for his criticism of popular models and concepts and for his unique, informal writing style. Dr Wilmott is principal of the financial consultancy and training firm Wilmott Associates, a director of two software companies and the editor of several academic journals. He is the Editor-in-Chief of the monthly newsletter Derivatives Memo. He has written and published widely on quantitative finance.
Volume 1: Paul Wilmott is a financial consultant, trainer, author and software developer. But more importantly... His favorite songs to dance to are Iggy Pop's "Lust for Life" and "I'm a Believer" by The Monkees. The song "Ever Fallen in Love" by the Buzzcocks is guaranteed to bring a lump to his throat, being the story of his usually unrequited love life. He has been trying to learn to play the guitar for 27 years, but can still only manage the three chords D, A and E. Paul has been much more successful with his juggling; he was the performer-manager for The Dab Hands troupe of jugglers. His hobbies are brunettes and mid-life crises. Volume 2: Paul Wilmott has written several critically acclaimed books on derivatives and over 100 research articles. However,... He remains single, despite valiant efforts in his local pubs around Bayswater. He has two children, Oscar and Zachary, from his first marriage and a chemical dependency from his second. He competed for Oxford University at Ballroom Dancing, was awarded three half Blues and was voted (joint) best dancer in 1984. But since then he has taken no exercise whatsoever. His motto for the next millennium is "No more Mister Nice Guy".
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Book Description John Wiley & Sons Australia, 1975. Book Condition: Good. Shows some signs of wear, and may have some markings on the inside. Bookseller Inventory # GRP69883650
Book Description John Wiley & Sons Australia Ltd, 1975. Hardcover. Book Condition: Very Good+. No Jacket. Book Description: John Wiley & Sons Australia,1975. Blue Hard Cover. Book Condition: Very Good + with the previous owners name to the ffep and covered in a clear plastic cover. A solid, tightly bound and clean copy. Small 4to - over 9¾ - 12" tall, 404pp, 1kg. "Having worn out my 1948 first edition of Edwards and Magee's Technical Analysis of Stock Trends, I thought I knew a lot about chart patterns. Thomas Bulkowski's Encyclopedia of Chart Patterns showed me how much more there is to learn. Meticulously researched, complete, and insightful, the Encyclopedia has earned a permanent place on my trading desk as a highly valued resource."-(Thomas A. Bierovic, Manager, Strategy Testing & Development, Omega Research, Inc.) May be extra postage costs. Bookseller Inventory # 2581183ACK. Bookseller Inventory # 001183
Book Description John Wiley & Sons, 1975. Book Condition: Fair. This is an ex-library book and may have the usual library/used-book markings inside.This book has hardback covers. In fair condition, suitable as a study copy. No dust jacket. , 1050grams, ISBN:0471874396. Bookseller Inventory # 6436554