on December 11, 2006
This is the most disgusting book I have ever read.
This not actually a textbook, but a bunch of statistical data. Authors even do not try to teach you, what they try is to make you familiar with techniques and tools used in the world. Yes, they do provide you with some simple examples, but do not teach you how to apply. They try to be concise, instead of being concise, they just ommit a lot of information and provide book references for you to search on your own.
If you want to get familiar with the most modern financial tools, you can buy it, but if your goal is to learn, get a profound understanding of concepts, train yourself, then look for another option.
The authors, from my point of view, just scholars, who do know a lot, but unfortunately, cannot teach and explain.
The book lacks exercises. There are some, but do not pretend to master swaps or hedging doing them. Book is just a statistical summary on current situation in financial markets, some theories, which of little value for a real job and that is all.
Do not pay for it, unless you are Warren Buffet. :))
on June 12, 2008
I've just completed a masters level subject in international finance at a top 20 university (in the world) where this "good for nothing but toilet paper" book was the prescribed text.
I have never encountered a textbook that fails so spectacularly at what it's supposed to do - help the reader learn.
Difficult topics become impossible and simple topics are made quite difficult.
My whole class saved itself a LOT of angst by deciding early on in the course to stop reading it. Immediately, our understanding of the subject improved.
My advice? If this is prescribed, save yourself money and pain - don't buy it - you'll actually be better off.