Mastering Financial Calculations: A Step-by-Step Guide the Mathematics of the Markets | Date: 05 May 2011, 16:46
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Practical and interactive, the book contains worked examples throughout.
From the Back Cover
Success in today's sophisticated financial markets increasingly depends on a firm understanding of key financial concepts and mathematical techniques. This book explains them in a clear and comprehensive way for a wide audience.
Mastering Financial Calculations starts by introducing the fundamentals of financial market arithmetic, including the core concepts of discounting, net present value, effective yields and cashflow analysis and then shows you step-by-step how to master the essential calculations and financial techniques for using the full range of products in the markets. The links between the different instruments and the resulting arbitrage opportunities are fully explored, together with the practical difficulties.
Making use of many worked examples and practical exercises, the book goes on to explain concepts such as forward pricing, duration analysis, the different approaches to bond yield calculations, zero-coupon and yield curve analysis, swap valuation and option pricing in a clear and accessible way, at each stage illustrating their application using a programmable calculator.
Whether you are a trader, fund manager, corporate treasurer, programmer, accountant, risk manager or market student, this book will give you the ability to manipulate and apply the relevant techniques with speed and confidence in your marketplace.
Reviews
Summary: Excellent Book !!!!!!!!!!
Rating: 5
This book is excellent for learning how to do financial mathematics. It covers the topic from a global perspective, looking at the conventions in different markets in the world such as Australia, UK, France, Germany, Japan, US etc. and shows you how to convert calculations among different market conventions. A truly global book and quite clearly explained!!! Makes a great teaching tool and an excellent reference tool.
Summary: Great value
Rating: 5
This book does a nice job of explaining the wide array of financial calculations and I'm particularly benefiting from the HP12C steps in the text.
Summary: Stellar content, wretched printing quality
Rating: 4
It would be hard to overstate the clarity and comprehensiveness of the content. Similarly, it would be hard to overstate the shoddiness of the printing. It looks like it was run off on a third rate copier, so badly printed that some of the equations are impossible to read as they are printed on a gray background. Fortunately, the equations are reprinted in an appendix.
Summary: Un Excelente Libro Para Entender Las Matematicas Financieras!
Rating: 4
Es dificil encontrar un libro que te explique con tanta claridad (sencillo) el tema de las matematicas financieras. Vale la pena tenerlo.
Summary: Concise, informative & well communicated to intended readers
Rating: 5
I am using the most recent edition (1999, ISBN027362587X) of this excellent book published by FT Prentice Hall.
This book is a concise and informative guide to the concepts and mechanics (maths) and application of financial instruments.
The author has managed to cover the wide area of financial instruments and business maths in the most concise and informative manner possible.
The added bonus of this book is that it could have been "unintentionally" written as a companion with HP financial calculator-the HP12c and the HP19BII.
New & existing owners of the HP12c, would find this book to be an excellent and indispensible guide and practice workbook.
Working through the examples in the book with my HP12c has helped me familarise with the RPN mode/logic of performing financial maths at the same time as I apply my understanding of the underlying concepts to the exercise questions and illustrative examples.
I am impressed that the author had even included detailed key strokes of both the HP 12c and 19BII calculators with each illustrated examples and answers to practice questions as well! Although there is afew minor errors but the overall effort is great efforts and attention to details.
This book is really true to its name, I would certainly recommend Mr Steiner's excellent work and effort to anyone who needs a refresher or an introductory course into financial instruments for both work and study.
Judging by the author's excellent effort, it would be difficult for the author himself to improve on his own work unless there are major new developments in the subject matter or if the author wishes to cover more complex and specialist areas.
A five star+ effort in my humble opinion.
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