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am 30. Juni 2000
Finally, I have discovered the most comprehensive book on derivative pricing and structuring I could imagine. For some time now I have been looking for a companion to Hull to detail the processes, theory and mathematics involved in derivative pricing which has either been forgotten or not studied. The level at which the book is pitched is superb - it starts low enough to be grasped with little advanced mathematical knowledge, but advances rapidly in depth to please those advanced in mathematics and finance. I have not been through the book thoroughly enough to comment on errors, but in its second edition I would assume many of the errors in the 1st edition have been resolved. With seven new chapters, exercises and most of the 1st editions 15 chapters revised and expanded, it is without doubt the best book on derivative mathematics I have bought.
0Kommentar|6 Personen fanden diese Informationen hilfreich. War diese Rezension für Sie hilfreich?JaNeinMissbrauch melden
am 20. Juni 2000
I greatly enjoyed the first edition of this book. It is a great introduction. It may be hard to believe but the second edition is even more useful. The vast number of practical and insightful problems have added a completely new dimension. Also, for interest rate derivatives, if you are a beginner, don't go anywhere else. First read this book. It should clarify several confusing points. The treatment of the main concepts in stochastic calculus on the other hand are to be enjoyed forever.
0Kommentar|Eine Person fand diese Informationen hilfreich. War diese Rezension für Sie hilfreich?JaNeinMissbrauch melden
am 20. Juli 2000
Along with Paul Wilmott's books, I used this book to solidify my understanding of derivatives pricing. This book is accessible to those with elementary calculus and probability college courses.
A must-have for those who want to understand the nuts-and-bolts of math behind derivatives pricing.
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am 8. Oktober 2006
Neftci provides an introductory text on the valuation of derivatives and discusses basic concepts without focussing on mathematical details. His casual and undemanding writing style allows for easy reading, and the reader quickly gains an overview of the field. To complete the somewhat superficial treatment, references and exercises are given at the end of each chapter. The book serves its goal as a primer and is apparently considered as a standard text by many financial practicioners (and recruiters).

However, the book was definitely not written with reasonable care. A great number of mistakes and typos can be found (even in the second edition), and you can never trust the formulas. Readers who feel confident of their mathematical skills will be okay, but since the book aims at beginners, this is a severe drawback. Also, the exercises do not always fit to the text and the solutions on the author's homepage are often faulty. With respect to the writing style, I normally embrace presentations that focus on insight rather than mathematical rigor. But still, handwaving is an art that goes beyond omitting proofs, and the text sometimes lacks clarity. On other occasions, statements are repeated again and again in almost the same words, which is not really helpful.
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am 18. Juni 2000
Great book! However, solutions guide (is not yet available).I loved the first edition of this book, and have read most of thesecond. I worked through some of the book's exercises, but need the solutions guide to ensure I'm answering them correctly. Hopefully, publisher will allow these to be sold. Looks like author took account of our book reviews when he revised the text. Salih Neftci, keep up the good work. END
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am 21. Juni 2000
Author finally added much neeeded exercises, and has expanded book by 7 new chapters. Make sure you get the solutions manual to ensure you're doing them correctly.
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