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Frequently Asked Questions In Quantitative Finance

Frequently Asked Questions In Quantitative Finance

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  • ISBN:9780470748756
  • Editorial: Wiley & Sons Ltd.
  • Fecha de la edición:
  • Número de la edición: 2
  • Encuadernación:Rústica
  • Dimensiones: 0 cm x 0 cm
  • Nº Pág.:662
  • Idiomas:Ingles,Inglés

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This new edition of the bestselling Frequently Asked Questions is fully revised and updated to include new developments in Quantitative finance and bringing it up-to-date with the events of the current financial crisis. The new edition will include all the old material (updated where necessary), 10 extra FAQ's including 12 different ways to define Black Scholes and 5 extra brainteasers. It will also include a new section on where Quants went wrong, and a manifesto (written by Derman and Wilmott) for better, more responsible modelling and some short essays from Paul on improving mathematical models and finance.
Quantitative finance is the most fascinating and rewarding real-world application of mathematics. It is fascinating because of the speed at which the subject develops the new products and the new models which we have to understand. And it is rewarding because anyone can make a fundamental breakthrough.
Having worked in this field for many years, Paul appreciates the importance of getting the right balance between mathematics and intuition.
'Too little maths and you won't be able to make much progress, too much maths and you'll be held back by technicalities. I imagine, but expect I will never know for certain, that getting the right level of maths is like having the right equipment to climb Mount Everest; too little and you won't make the first base camp, too much and you'll collapse in a heap before the top.
Whenever I write about or teach this subject I also aim to get the right mix of theory and practice. Finance is not a hard science like physics, so you have to accept the limitations of the models. But nor is it a very soft science, so without those models you would be at a disadvantage compared with those better equipped. I believe this adds to the fascination of the subject.'
This FAQs book covers some of the most important aspects of financial engineering, and considers them from both theoretical and practical points of view. It explains some of the common questions of Quantitative Finance and gives a short quick answer to the topic first, then a longer explanation afterwards.

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