Customer Reviews

Professional's Handbook of Financial Risk Management

5 star:		(4)
4 star:		(0)
3 star:		(0)
2 star:		(1)
1 star:		(0)

 

 

Excellent & Comprehensive - This handbook, while expensive, is an excellent, up-to-date summary of all major areas of risk management. It is a must have for risk managers and a very useful addition to any financial analyst's bookshelf. It provides a comprehensive overview of market risk, credit risk, appropriate VaR models, operational risk management, regulation, risk-based capital, liquidity risk, and risk adjusted performance measurement. It focuses on practical financial risk management techniques, and is designed to guide the risk professional, or others who would like to know more about risk management, step-by-step through the implementation of a firm-wide risk management framework.

Risk professionals will get information on the latest standards that represent best practice in the risk industry. The book is a good balance between practice and theory, with the risk practitioner in mind.

I just received a copy of this book and briefly reviewed the content. While I must say that this is an expensive publication in the field I nevertheless regard it as being value for money. Particularly useful for Consultants and Professionals (not so much Academics) this title is about application and covers an extremely wide area (from derivatives basics to VAR - market risk, credit risk, also Operational Risk Measurement and Risk Adjusted Profitability Management) and puts all the techniques available into "a big picture". Definetly 5 Stars !

Well, what can I say. I am extremely disappointed and really upset. I want my money back. !!!They ripped me off!!!. I bought this book because Lev Borodovsky is the Chairman of the GARP, but unfortunately he didn't write the book. He didn't developed any theme. He is just a seller who recommends the purchase of the book. He plays a decoy role. It's a dishonest attitude towards the readers and risk management professionals. The professional's handbook of financial risk is no more than a dictionary, a big dictionary on risk management. As a reader said: a summary. There is NO huge and depth development of each subject. In this handbook the themes are presented in a simply and tiny way

One reader said, this book is for consumers who work in the field of financial risk management. Well, I work as a professional risk management consultant and derivatives lecturer. So, I can use this book as a simple dictionary. It doesn't add anything. I prefer Risk Management by Michel Crouhy as a better professional handbook on risk management. With respect to VaR, Jorion's Value at Risk is tremendously and immensely much better.

The second theme: Measuring volatility, ARCH models and GARCH specifically are terribly bad developed, pitiable and vague. There is no useful application. A great, objective, practical discussion on GARCH, estimating volatility and correlations are discussed in Options, Futures & other derivatives by John C. Hull. Believe it or not.!! Every book must have a balance between a theoretical and practical content, let's say 50-50. Borodovsky's Financial risk management has a 90% conceptual (not theoretical) and 10% practical. When I say practical, I mean effortless and unclear exercises, not professional solved cases and applications of the real world. Back testing and stress testing themes present a deficient, incomplete and poor development. A Montecarlo simulation very unsatisfactory and pathetic.

The professional's handbook of Financial risk management is a rip-off. Definitely a rip-off!!!. This book should cost $40.00 dollars. It's just a dictionary. It deserves 2 star.

I used this book extensively for the Financial Risk Management exam and I am pleased to say passed and am a certified FRM now. The contents of the book cover the syllabus of the exam well.

As the previous reviewers have mentioned, this book is most useful for consumers who work in the field of Financial risk management. I however am studying a course in this field at University and what i can say is that this book as bumped up my essay grades.

The reference books i work with aren't as comprehensive, upto-date or as well researched as this book. If you want great examples, useful figures and information this is where you should look.

If you're a student and have alot of spare cash then this is for you, alternatively as reviewers who work in this field have said- its worth the money. Be warned that although the lay-out is logical and well presented, it isn't in large fonts with pictures and colours like most college text books.