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1 von 1 Kunden fanden die folgende Rezension hilfreich
5.0 von 5 Sternen Wilmott did it again--another mother of all QF books
After looking at my colleague's copy of this new fantastic, super-duper book, I had to get a copy. How does this guy write so well? Also, I like his approach of uncovering the mysteries of mathematics.
Often, QF papers are ridden with symbols that only a select people would understand. With Wilmott's book, anybody with college training in math and motivation can...
Veröffentlicht am 7. Juli 2000 von M. Kim

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3 von 3 Kunden fanden die folgende Rezension hilfreich
2.0 von 5 Sternen rather limited
The theory of derivatives pricing is the observation by Black and Scholes that the randomness in the value of an option can be balanced by the randomness of the underlying stock. This leads to a partial differential equation for the price of the option known as the Black-Scholes equation. Following on from this, mathematical finance has developed into a burgeoning...
Am 26. Juli 2000 veröffentlicht


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3 von 3 Kunden fanden die folgende Rezension hilfreich
1.0 von 5 Sternen Just buy the Derivatives book, 29. Juli 2000
Von Ein Kunde
Rezension bezieht sich auf: Paul Wilmott on Quantitative Finance, 3 Vols. w. CD-ROM (Wiley Frontiers in Finance) (Gebundene Ausgabe)
I was hoping for something more than the derivatives book. I was really disappointed. Not only it is mostly repeating the other book. It is even less detailed. I love Paul Wilmott's books.. However, this last one you can do without.. Just buy the derivatives the theory and practice book and you will be happy you did. I am sending this one back...I was really hoping for more Juice from Wilmott..
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2.0 von 5 Sternen rather limited, 26. Juli 2000
Von Ein Kunde
Rezension bezieht sich auf: Paul Wilmott on Quantitative Finance, 3 Vols. w. CD-ROM (Wiley Frontiers in Finance) (Gebundene Ausgabe)
The theory of derivatives pricing is the observation by Black and Scholes that the randomness in the value of an option can be balanced by the randomness of the underlying stock. This leads to a partial differential equation for the price of the option known as the Black-Scholes equation. Following on from this, mathematical finance has developed into a burgeoning field. The PDE approach has however been largely superceded by the more advanced martingale-based risk-neutral evaluation approach.
This book is an extended edition of Wilmott's previous book Derivatives and suffers from similar defects. It is a good basic introduction to the PDE approach to pricing but is limited in scope and viewpoint. Trees, risk-neutral pricing and martingales barely rate a mention. Every problem is fitted into the PDE approach whether it makes sense or not.
If you want to spend a lot of money learning Wilmott's view on finance then this is the book for you. But if you want a good overview of modern financial techniques then save your pennies.
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1 von 1 Kunden fanden die folgende Rezension hilfreich
5.0 von 5 Sternen Wilmott did it again--another mother of all QF books, 7. Juli 2000
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M. Kim (WEST LINN, OR) - Alle meine Rezensionen ansehen
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Rezension bezieht sich auf: Paul Wilmott on Quantitative Finance, 3 Vols. w. CD-ROM (Wiley Frontiers in Finance) (Gebundene Ausgabe)
After looking at my colleague's copy of this new fantastic, super-duper book, I had to get a copy. How does this guy write so well? Also, I like his approach of uncovering the mysteries of mathematics.
Often, QF papers are ridden with symbols that only a select people would understand. With Wilmott's book, anybody with college training in math and motivation can understand and internalize the concepts. I wish other academics follow his examples.
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5.0 von 5 Sternen Wilmott strikes again, 6. Juli 2000
Von Ein Kunde
Rezension bezieht sich auf: Paul Wilmott on Quantitative Finance, 3 Vols. w. CD-ROM (Wiley Frontiers in Finance) (Gebundene Ausgabe)
I have been an appreciative reader of the previous books by Paul Wilmott, and I eagerly bought this updated edition of Derivatives right away. There was no surprise: this is possibly the most comprehensive book on mathematical finance up to date. Several new chapters have been added, some of them addressing very interesting subjects such as stochastic control (one of my favourites), and many others have been expanded. For instance, American options are explained more thoroughly in this edition. You won't need a PhD in math to read the book: it takes little mathematical knowledge to understand the models to a good level of accuracy (strange as it may sound, the author succeeds in demonstrating it is so), and the derivation of more subtle quantitative subjects is straightforward. Wilmott as usual includes some funny lines throughout the text that make the reading light and enjoyable. The drawing boxes depicting the author himself providing concise advice on what issues to focus on may certainly look childish, yet I think they are of some help to the reader. Actually, I think it's impossible to conceive a topic in derivatives theory (and practice, as the author reminds) not covered in these volumes. Do not expect Paul Wilmott on quantitative finance to provide a useful quick reference for formulas and basic ideas, though. The thick and heavy two volumes are a nightmare to carry around (despite the stylish box that accomodates them) and you won't like to browse through the index jumping from one book to the other. Overall, I think this book is a must for all those interested in financial mathematics. Students and first-timers can not, in my humble opinion, find a better textbook for developing a wide knowledge of mathematical finance, and they will certainly read it cover to cover and will have hard time putting it down. More experienced readers might find the level of exposition, especially in the first chapters, quite introductory, but they certainly will appreciate the broad scope of the book and the unconventional yet very enjoyable style with which the subjects are explained. Moreover, Wilmott is available for answering questions and exchanging ideas and opinions, and I think that's a huge resource, considering how greatly knowledgeable he is. There are only two small drawbacks with this book: the price tag and the ugly suit worn by the author (who, surprisingly enough, seems proud of it) in a picture on the back cover of one of the volumes, but serious Wilmott enthusiasts will happily accept both. As a matter of fact, I'm already looking forward to hear about his next (4 volumes, 2K pages?) release.
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5.0 von 5 Sternen Wilmott is now the quant to beat, 5. Juli 2000
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Rezension bezieht sich auf: Paul Wilmott on Quantitative Finance, 3 Vols. w. CD-ROM (Wiley Frontiers in Finance) (Gebundene Ausgabe)
Who should buy this book? The real question is who shouldn't buy this book. For the Phd Quant this book is a tour de force in how to explain technical topics clearly and concisely. For the newbie, this is simply the lowest barrier to entry available.
Interestingly, QF does not "replace" a bookshelf of quant books -- rather it nicely compliments many that you're likely to have such as Taleb, Neftci etc. As sales of QF increase, it is likely that readers will be less likely to buy a derivatives book that is over their head.
Volume 1 covers 37 chapters of the equities/currency derivatives world, While Volume 2 covers the Fixed Income World, Risk Measurement , Miscellaneous Topics and Numerical Methods.
Chapter 10 has an excellent and all too rare discussion of Probability Density Functions and First Exit Times, whilst Chapter 14 has an outstanding Trading Game invented by one of Paul Wilmott's former students.
Chapters 16 through 21 cover the Path Dependent world while the balance of the chapters cover extensions to Black Scholes.
Its in these sections that Wilmott delivers some surprising thoughts and insights into Stochastic Volatility Surfaces that are currently the rage.
Throughout both volumes I continue to be astonished at how clear, concise and effective his explanations are. The icons are not annoying at all -- rather I found myself skimming the icons to find out what was required to be committed to memory in each section versus what was background.
As obvious as it sounds, a glaring weakness in Derivatives texts is the inability of authors to elucidate what must be memorized as rote for the student to make further progress. Paul's easy to follow icons lay out a precise plan of study.
I can't say enough about what a leap this is over competing texts.
In Volume 2, Chapters 38 through 50 cover models that Wilmott likes as well as ones that he doesn't [again, a rather novel approach]
Some surprises in Chapters 51 and 52 are an excellent overview of Portfolio Management and a survey of Robert Merton's Asset Allocation in Continuous Time.
Sprinkle in outstanding chapters on Derivatives Fiascos, Real Options, Energy Derivatives and 5 chapters on Numerical Methods and an astonishing survey of Quantitative Finance is complete.
Throughout the books Paul's practical use of Term Sheets and quick and dirty VB code and spreadsheet tricks [you just have to see his Excel shortcut for approximating the Normal distribution] leave the reader constantly wanting to rev ahead.
To round out a tremendous effort, Wilmott also pays homage to authors that he's found helpful and he's generous with suggestions on further reading. This builds sorely needed confidence when attempting new material.
The comparison with Richard Feynman is apt but misses an important detail...Feynman was not noted for turning out hordes of talented understudies. Paul Wilmott has turned out enough talented graduate students that maybe he will be a bona fide cult leader someday.
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5.0 von 5 Sternen Throw all your other quant books away!, 24. Juni 2000
Von Ein Kunde
Rezension bezieht sich auf: Paul Wilmott on Quantitative Finance, 3 Vols. w. CD-ROM (Wiley Frontiers in Finance) (Gebundene Ausgabe)
This is the only quantitative finance book you will ever need, whether you are a student or a rocket scientist. This is an update of his book Derivatives. It is written so as to make finance easy and fun. Most books seem to want to make this subject as complicated as possible (why?). But if you read this you will realise how straightforward quantitative finance really is. One of the best things about it is that the author tells you what he thinks about different models. The book is not just another no brain copy of other text books.
Wilmott's books are always easy to read with some jokes thrown in. A small percentage of people don't seem to appreciate this style, but that is more a bad reflection on them than on Wilmott!
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5.0 von 5 Sternen Quantitative Finance for Everyone, 20. Juni 2000
Rezension bezieht sich auf: Paul Wilmott on Quantitative Finance, 3 Vols. w. CD-ROM (Wiley Frontiers in Finance) (Gebundene Ausgabe)
This is a breakthrough book in quantitative finance: comprehensive, up-to-date, mathematically rigorous, fun and easy to read and eminently practical. It covers all aspects of quantitative finance, each area progresses from abstract mathematical theory to real application. The author has used sidebars, graphics and cartoons to ease the reader along. This is essential because most readers will be interested in only certain aspects: some will just want a formula, others want to understand the intuition behind a concept, still others will want to see a practical example. The arrangement makes it easy to locate what you need. It could be read from cover-to-cover by someone who wanted to teach themselves to be a quantitative finance expert, or as a reference book, or anything in between. It replaces a bookshelf full of quantitative finance books.
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5.0 von 5 Sternen Mathematical finance for non rocket-scientist, 17. Juni 2000
Rezension bezieht sich auf: Paul Wilmott on Quantitative Finance, 3 Vols. w. CD-ROM (Wiley Frontiers in Finance) (Gebundene Ausgabe)
Put it this way, this book won't make you an expert in financial engineering. Yet, if you are the sort of people don't have a very good background in mathematics (i.e. only have a first degree in science/engineering) but want to have a rough idea about financial engineering, then this is the book for you.
Of course, if you want to be a quant earning mega-buck and deriving your own model, then probably you still need to learn the things in the hard way. In other words, learn all the martingales and stochastic integral and be a geniune rocket scientist. This book won't offer you a short cut.
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Paul Wilmott on Quantitative Finance, 3 Vols. w. CD-ROM (Wiley Frontiers in Finance)
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