Simply a must own for anyone with any use for Quant Finance:
Neftci is one of those rare authors who can begin at the begining, explain his major point and logic without excessive jargon or short-cuts, and do so without sacrificing depth and substance. In a field were the readable texts are for MBAs or elementary practioneers or for the initiated members of the priesthood, here is one of a few handful of authors (Wilmott and Joshi as well) that are both clear and serious, rigorous and accessible, insightful and a plerasure to read.
great book:
Prof. Neftci gave one of our mandatory course - Financial Engineering, in HEC Lausanne. This book is the reference book for this course. His lecture is great, a lot of jokes and funny stories as well as insights about financial engineering. However, I find out that the book is even better than his lecture.
terrible bookbinding:
This rating is definitely not for the content of this book - the author did a superb job creating this text. Unfortunately, my pre-ordered copy of second edition came up in a binding which teared right away and I do take a good care of my books. No cost-cutting and financial crisis can justify using sub par glue and binding materials for a $100 book. I am tempted to go further with analogies for the whole field of financial engineering where so many brilliant (and really working) ideas were thrown into mud by horrible execution and shallow greed.
great resource:
Does anyone know if there is an errata available for the recent second edition yet? Neftcis' website has a preprint errata from 2004.
If you have one book at work, this one should be it:
I've read of few books about financial products and their application, but this one is by far the best. The author's intent is to share his knowledge, rather than show it off. This title has served as a very helpful starting point quite a few times, especially when I have to get something done in a hurry. I bought a number of copies over the years to give them to colleagues - especially those new to the financial industry. The explanations and derivations can be followed by mortals - the author does not leave out big chunks of the explanation using the old "as it can EASILY be shown". Instead, he tells the whole story to build a solid understanding of the subject matter.
| Author: | Salih N. Neftci | | Binding: | Hardcover | | Dewey Decimal Number: | 332 | | EAN: | 9780123735744 | | Edition: | 2 | | ISBN: | 0123735742 | | Number Of Pages: | 720 | | Publication Date: | 2008-11-21 |
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