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Frequently Asked Questions in Quantitative Finance Paperback – November 2, 2009
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Top Customer Reviews
A great interviews book. The 60 FAQs that are the main part of the book are amazing! For each one of them, a short answer is given (the kind you would give on a phone interview), followed by a brief example (very useful in understanding both the question and the answer) and by a long detailed answer.
Reading the short answers and the example on topics that were never taught to me was very useful in getting out of questions which I did not know the topic but wanted to answer something correct without going in details.
The book also has great brainteasers (although a lot more difficult than what usually asked on interviews). I was told all PhDs looking for finance jobs must read this book and masters students can get ahead by reading it.
One first impression that jumped out was the author's (PW) delightful sense of humor. ("Magicians and mathematicians!")
PW has taught and practiced this stuff, and it shows.
A big part is mathematical finance, and a big part of this is based on certain stochastic differential equations, the Black-Scholes equation for the computation of the value of options.
It uses the geometric Brownian motion which is also explained from a practical viewpoint.
The book takes both a narrow and a wide view.
Illustration: (i) It offers both short answers and long ones; the latter include mathematical formulae.
(ii) For the particular tasks at hand, the author offers an overview of the tools needed, mathematical tools figuring prominently.
(iii) List of keywords, with enlightening discussion and answers. Guides to the literature, etc.
(vi) There is a list of options and derivatives that are used: Accrual, American, European, Asian, Asset swap, Balloon option, Barrier option, Basket option, Bermuda option, Call and put options, Cap, Cliquet option, and more.
The book concludes with a list of tips for folks interviewing in banks and in the financial industry: typical questions! What to say, and what not! Review by Palle Jorgensen, July 2011.
Most Recent Customer Reviews
Ironically, compared to Wilmott's other offerings (such as the 3 volume set and his introduction to quant. Read morePublished on May 10, 2014 by College Student