Financial Engineering: Tools and Techniques to Manage Financial Risk [Hardcover]

Lawrence Galitz (Author)

Book Description

ISBN-10: 078630362X | ISBN-13: 978-0786303625 | Publication Date: February 1, 1995 | Edition: 1

Written with a clear and concise style, this book provides a solid foundation of theory and a clear demonstration of effective practice. It also: covers the tools of financial engineering; defines each instrument and describes the markets in which they are traded; explains how each product is priced and hedged.

Editorial Reviews

From Library Journal

The collapse of the fixed exchange rate system in the early 1970s and its replacement by floating rates created remarkable opportunities for financial innovations. Such innovations supported by recent technological breakthroughs have enabled market participants to deal effectively with the financial risks associated with currency, interest-rate, and commodity transactions. This book is unusual in treating its subject comprehensively. Galitz, a financial consultant, clearly defines and illustrates the customized derivative securities for managing financial risk. He explains the hedging schemes, pricing mechanisms, and applications of the FRAs, SAFEs, futures, forwards, currency, and interest-rate swaps and both single and multiperiod options. He also highlights how and why these instruments are built and describes the capital, foreign exchange, and commodity markets in which these products are traded. Recommended for professionals as well as advanced undergraduate and graduate classes in finance.
Ali D. Abdulla, East Carolina Univ., Greenville,
Copyright 1995 Reed Business Information, Inc.

About the Author

Lawrence Gallitz is a Director of ACF Consultans Ltd, and has extensive knowledge and expertise in the fields of banking and finance. He conducts seminars on wide-ranging topics throughout the world, and regularly undertakes specialised consultancy assignments for major banking clients. Dr Galitz was previously Associate Director of the Institute of European Finance, and was Director of Studies in the School of Accounting Banking and Economics at the University College of North Wales, Bangor. --This text refers to an out of print or unavailable edition of this title.

Product Details

• Hardcover: 304 pages
• Publisher: McGraw-Hill; 1 edition (February 1, 1995)
• Language: English
• ISBN-10: 078630362X
• ISBN-13: 978-0786303625
• Product Dimensions: 9.3 x 6.4 x 1.6 inches
• Shipping Weight: 1.9 pounds
• Average Customer Review: 4.5 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #2,376,027 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

3 of 4 people found the following review helpful:

4.0 out of 5 stars Excellent Resource For Practical Financial Risk Management, February 22, 2002

By 

Abraham Brody (Encino, Ca United States) - See all my reviews

This review is from: Financial Engineering: Tools and Techniques to Manage Financial Risk (Hardcover)

This book emphasises the relationship between the debt and currency markets. This relationship can be summarized by the international fisher equation, however this book addresses topics that are typically not addressed in more theoretical texts. If you really want to understand how the international currency and debt markets operate on a practical level, including a rather comprehensive coverage of Swaps, Caps, Collars, FRAs, etc., then this book is a must. The mathematics in this book are rather simple and should pose no problem for a beginner or intermediate level student of finance.

5.0 out of 5 stars Excellent Book and Worth Buying, July 23, 1999

By A Customer

This review is from: Financial Engineering: Tools and Techniques to Manage Financial Risk (Hardcover)

This book is excellent for both academics and practitioners. Because of its low level of mathematics, it can be used at both the undergraduate and graduate levels. The exposition is clear and concise but not formal. The book covers a lot of ground and is written by an expert in the field. Almost each section has plenty of good real world examples. It can be used as an introductory reference to advanced topics such as interest rate option modelling and the Brace-Gatarek-Musiela Approach.

However, the book needs a new edition to include the latest topics in the modelling of interest rates. A visual basic computer disc for practice could improve the book considerably.

At less than $50 the price of the book makes it a bargain.