Derivatives Markets (2nd Edition)
by Robert L. McDonald
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Book Reviews of Derivatives Markets (2nd Edition)
Book Review: Better than John C. Hull
Summary: 5 Stars
Very easy to understand. IMO, it is the only book that is at par with, if not better than, John C. Hull's "Options, Futures And Other Derivatives."
Strongly recommended for everyone with even an oblique interest in the study of derivatives.
If Shreve and Karatzas is/are too dense, read this instead.
With all due respect, this book should inspire the Broadies and Dermans of the world to write such textbooks themselves, and the Sundaresans and Glassermans of the world to (also) cater to less scholarly minds (such as the undersigned).
-Kunal Kunde
Book Review: What a good one!
Summary: 5 Stars
I got this book few months back, though little pricy but someone recommended it. I found it to be a wonderful blend of the economics and mathematics of derivatives pricing. After reading the book, i was comfortable with :
understanding of derivatives pricing models &
derivatives markets
I strongly recommend people giving their FRM, CFA and / or SOA certifications to get their hands on this book.
You would like it. A good reference book. Only issue is it is little too heavy, hence you cannot lie down and read it for a long time ;-)
Book Review: Not a good book
Summary: 2 Stars
This book is actually quite weak. While, the other books recommended by Actuarial Societies are quite strong, this one does not hold up. There are not enough examples or problems in the book. In addition, the book continually reuses the same information in its examples requiring less thought to get through them.
My biggest complaint is how the book approaches Put-Call Parity. This book offers the worst explanation for that concept I have ever read, which is sad because it is the basis for pricing calls and puts.
Book Review: Textbook
Summary: 5 Stars
I used this book in an actuarial Exam FM/2 prep course at my university. We only covered the material through swaps (i believe chapter 8). Easily understandable. I had trouble understanding the swaps portion of the text. Definitely a more valuable source if accompanied with instruction. Tons of information... no information on directional trading and prediction of market movements, but that is not what the book was intended for.
Best Regards
Book Review: Good supplementary textbook for Actuary Exam MFE
Summary: 5 Stars
For those studying for the Actuary Exam MFE, this is a decent textbook to refer back to. I am also using Weishaus's Exam MFE study manual. It's nice to read the textbook and get the background for what is basically just included as Cliff's notes in Weishaus's study manual. The two paired together provides a comprehensive background for the material.