Extremely useful reference book. As a grad student studying mineralogy, I couldn't do without it. A+

This is what distinguishes this book from its competitors.
The author is well known in financial circles as one of a handful of quants who is capable of meaningfully contributing new results to this fascinating field. The book contains many results which cannot be found elsewhere in the public domain.
Although the book title suggests that the results apply only to
foreign exchange, it is straightforward to adapt the results to

equities, commodities, and many other underlyings.

Wall Street is a very secretive place and it is not easy to get a glimpse of the kind of things that consume a quant's time.
I suspect that the only reason that this book was able to come to light is due to the acquisition of Banker's Trust, the author's former employer. Banker's was well known to be a fertile training ground for the best derivative minds and this book should prove to be a lasting legacy to that view.

The range of this book is impressive.
Although the author chose to focus on currency
options, his book really is a treatise on
a wide spectrum of problems and methodologies
which any quant wishing to tackle the
sophisticated world of option pricing at a high level
must master.

The author demonstrates his mastery of
the arsenal of the classic applied mathematician,
asymptotic analysis, self-similarity, Laplace
and Fourier transform, and uses these to give an
incisive analysis of both standard topics
such as American options and more exotic topics
such as options on one currency with
barriers on the other currency, passport
options (for which he was a pioneer in developping
pricing tools) , asian options and much much more.

No, this is not as easy a read as Willmott's
books. Willmott's books were and remain
an important contribution with their
quick and intuitive explanation of a variety
of instruments. Lipton- Lifschitz's
book is more challenging and the reader will
have to pull up his sleeves on
occasions where the author, while dealing
with a case analogous to one just treated
says " the details are left to the reader".
But let's face it, if you work on Wall Street
or nearby, you'll have to tackle those details
alone at some point and Lipton-Lifschitz
gives you all you need to know to do
pull this off.

And. last but not least, let's not forget the price. At less than 50$ thisbook is a real bargain and for a first
printing, unusually free of typos or others
errors.

I highly recommend you buy this book now before the publisher
doubles the price.

As a quant in one of the Wall Street investment banks, I found this book a very valuable resource. Though written on a fairly high level, this book remains a readable and consistent exposition of latest methods of foreign exchange modeling. I particularly appreciated that the author does not skip steps in his derivations and gives out all those little practical details that are so important to people planning to use these methods in their work. The range of topics covered is fairly wide, with main emphasis on derivative pricing. I found the two chapters on path-dependent options to be particularly interesting and extensive. Some of the results included in the book came out of author's original work at Deutsche Bank. I also had an impression that some of his latest work was not included in the book, which is a pity.

All in all, an excellent book. Well worth the price.

If you are a skilled pianist, try the Op. 28 Fantasie. This work, sadly, is rarely recorded but is one of the most incredibly gorgeous things ever written for piano. The only other copy of this I own is in a Hungarian edition not available in the US, so rejoice if you play piano.

Dover prints music that is easy to read and the editing is usually blameless. This book is no exception. Highly recommended for serious piano students.

This collection of mostly unrelated works by AlexanderNicolyavich Scriaban (1872-1915) is most undoubtedly the crown jewelof Twentieth-Century piano music; yet it is almost totally overlooked historically as well as musically. It represents not his ordered compositions, as do his preludes and etudes, but rather his sporadic, sometimes psychotic thoughts; it is a veritable musical diary of the very bizarre and mystical life of the great Russian enigma. It belongs on the shelf of any serious music student, especially those of Russian music, for in this myriad of masterworks are the very core of the underappreciated and often entirely overlooked Alexander N. Scriabin.