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Financial Simulation Modeling in Excel, + Website: A Step-by-Step Guide 1st Edition

4.3 out of 5 stars 4 customer reviews
ISBN-13: 978-0470931226
ISBN-10: 0470931221
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Editorial Reviews

From the Back Cover

As simulation techniques become more prominent within the financial community, a thorough understanding of the theory behind, and implementation of, those techniques is critical for those involved in portfolio management, risk management, pricing, and other essential financial activities.

Created by the expert author team of Keith Allman, Josh Laurito, and Michael Loh, Financial Simulation Modeling in Excel contains valuable theoretical insights as well as practical exercises that will help you transform financial concepts into dynamic, usable models. And because simulation has its place in many different parts of finance, this well-rounded resource takes you step by step through the process of creating multiple, smaller models—using Microsoft® Excel® and VBA—as opposed to a single unified model.

Each section begins with a discussion of theory—with enough background and mathematical formulas provided to reinforce the concept covered—and then moves on to a Model Builder exercise where the theory is transferred to an application in Microsoft® Excel®. Along the way, this accessible guide:

  • Works through random number generation, explains Brownian motion, and explores correlation between variables with specific examples

  • Takes you through simulating interest rate paths to price bonds

  • Creates a corporate default simulation based on structural and reduced form models

  • Provides a thorough look at simulating pools of assets

  • Addresses data deficiencies and how to manage data as it relates to a simulation

Complete with a companion website that contains information including Model Builder files, this book is an essential guide—for both seasoned professionals and those new to the world of financial simulation modeling—to understanding the intricacies of this discipline and excelling at it.

About the Author

Keith A. Allman is an investment manager at Bamboo Finance, a private equity fund that invests in for-profit, commercially viable companies that provide a good or service that beneficially impacts the lives of low-income individuals. Previously, he was the director of analytics and modeling at Pearl Street Capital Group. Allman also founded Enstruct, which services clients worldwide in capital markets and equity valuation, distressed valuation, and quantitative-based training. He is the author of the Wiley titles Corporate Valuation Modeling, Modeling Structured Finance Cash Flows with Microsoft® Excel®, and Reverse Engineering Deals on Wall Street with Microsoft® Excel®. Allman holds bachelor degrees from UCLA and a master's degree from Columbia University.

Josh Laurito, CFA, is a co-founder and Principal of Lumesis, a leading provider of credit analysis software and solutions to the municipal finance market. In addition, he directs corporate modeling for Hexagon Securities, a boutique merchant bank that advises and invests in banks and specialty finance companies.

MichaelL Loh currently works for Tech-X Corporation where he is actively engaged in complex data management and high-performance computing using accelerated hardware. Prior to Tech-X, Loh developed and implemented financial models at RangeMark Financial Services

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Product Details

  • Paperback: 216 pages
  • Publisher: Wiley; 1 edition (October 11, 2011)
  • Language: English
  • ISBN-10: 0470931221
  • ISBN-13: 978-0470931226
  • Product Dimensions: 7.5 x 0.4 x 9.3 inches
  • Shipping Weight: 10.4 ounces (View shipping rates and policies)
  • Average Customer Review: 4.2 out of 5 stars  See all reviews (4 customer reviews)
  • Amazon Best Sellers Rank: #1,976,440 in Books (See Top 100 in Books)

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Top Customer Reviews

By BB_NYC on November 29, 2012
Format: Paperback Verified Purchase
Not for novices, or even intermediates. If you're an engineer with significant programming experience, it might be useful. But it leaves too many steps unexplained. Coding short-cuts are difficult to follow -- nested For Next loops simply say 'Next', not Next i or Next j. Moreover, frequent use of functions rather than subs which call a function make it hard to follow in de-bug mode. I bought this book for a class; but other than providing canned programs, it wasn't particularly useful.
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Format: Paperback
Great book. Barely into Chapter 2, and I'm noticing a TON of typos on the book.

Typos (I'll update this as I read further)
1. If you have the kindle version, and you copy paste over the COUNTIF formula...the quotes "" used need to be reentered...Kindle copies over a fancy kind of quote that excel does not recognize.
2. On page 20, C4:AF207 should read C8:AF207.....C4 is already has another value used.
3. On page 20, the COUNTIF forumla uses a semi colon..it should be using a comma. It will not run with a semi colon.
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Format: Paperback
Working at a private equity firm and modeling numerous financial scenarios on a daily basis, I continue to seek out more efficient and better methods to incorporate into our analysis. After reviewing several books, I decided to purchase this book, "Financial Simulation Modeling in Excel". My team and I have been very pleased with the layout of the book, the ease in understanding the information, and more importantly, the techniques learned that greatly enhanced our investment modeling process. The increased accuracy in our modeling have produced better results and paid for our investment in this book several times over. In addition, if you have a personal stock portfolio, these techniques are transferable and have helped me and my friends in managing our positions. I would highly recommend this book to any person doing financial modeling and seeking out ways to improve their tools for their financial analysis.
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As an engineering student, this book helped me land a finance internship. Unlike many books in this field, the authors recognize that simulation has many skeptics, and they explain how to overcome these issues. They do a nice job of explaining how simulation can still be used to expand an analyst’s tool kit. The authors discuss the basics of simulation before delving into more complex models. Overall, it is a thorough step-by-step guide to learning simulation.
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