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I enjoyed the book so much that I purchased the revised edition and purchased additional copies and gave them to my friends as Xmas presents.
Indeed, this book has its place in Black History, next to the Isis Papers.
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The numerical methods applied with the help of Excel are useful to understand the various facets of Financial Engineering.
The salient aspects are
- provides the VBA introduction along with the features of Excel
- Equities Risk management and portfolio optimization
- Option pricing using Binomial trees and Black Scholes formula applied in Excel
- Bond option Valuation Formula using the Vasicek, Cox Ingersoll and Ross using the assumptions of Risk neutral process are easily worked out and the examples elucidate the readers understanding
- Interest rate models, valuation of Bond options using the different approaches are done well.
I also highly recommend Tavakoli's "Credit Derivatives" (Second Edition) for product descriptions and performance characteristics.
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Now that I'm finished with it I have a few quick thoughts:
GOOD: The book tries to strike a balance between being technical and practical - It explains some of the "concepts" well, but then goes into specific deatil about "WHO" to call for things (i.e. credit reporting agencies, SBA etc.)
GOOD: The book touches on all the major subjects that people unfamiliar with personal money mgmt trip over. Insurance, home-buying, investing, insurance, credit, avoiding scams etc. are all topic that you MUST understand (to some extent) to avoid financial pitfalls.
BAD: Occassional references to the bible are a nice idea, but there aren't enough of them to have a substantial meaning to a reader. In the end they are jsut distracting.
BAD: The book doesn't have much of a "recommended reading" or additional reading section. Very helpful for those just starting out.
GOOD: Chapters are easy to read during lunch. At 15-25 pages, it is easy to read this books during lunchtime over the course of 2 weeks.
GOOD: Forget the msgr and your issues with him. The advice is solid, and right in line with what most financial planners would tell you (although, it is NO substitute for a professional - which the authors give advice on how to hire one)
BAD: May be helpful to have a good dictionary handy if you are a novice reader.
KB
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I just recently found this book and recommend it to everyone doing genealogy work. The draw back is that it is out of print.
I feel that a reprint would definitely be in order. I understand the first time around was a huge success and see it doing the same again. Who ever would make this decision would be well advised to give it very serious consideration.
A superb book on the location of many old and forgotten cemeteries as well as a great source of lost historical information on old villages and their peoples and lives.