Customer Reviews

An Arbitrage Guide to Financial Markets (The Wiley Finance Series)

5 star:		(3)
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Probably the single best introduction to financial markets' mechanics. The complex workings of the financial world are decomposed into simple building blocks, that have their foundation upon the principle of risk-sharing. Maybe of all books about hedge fund strategies, this is one of the clearest and most useful expositions of the principles upon which absolute return strategies are based - even though it has no magic 'hedge fund' words in its title to capture the reader's attention. Amid a flood of useless marketing stuff about hedge funds (including some of the works of Dr. Nicholas) and extremely boring expositions of minute details about the institutional and regulatory details of various markets this is a very good achievement indeed. Although truly sophisticated readers would probably want to look elsewhere, this book gives you something essential, which painfully misses from many fields of modern knowledge - a broad picture, without which we risk not to see the wood for the trees.

A very clear way of presenting the complex material. This is my favorite book with advanced coverage. Author uses a lot of examples with actual numbers so that it's easier to understand what the numbers are and what they mean.

From someone who not only read the book but also worked for the author in the risk management field, I highly recommend this book, specifically for the clarity of style and good explanations.