The material in this book is necessary for anyone who is responsible for managing money or involved with a business entity doing trading in financial markets. Increasingly this is "everyone." The good news is that the conclusions and punchlines are presented clearly and simply. A person who does not want to follow the math (there is a lot of it) can skip to the arguments and conclusions and get an enormous amount of valuable information. The bad news is that little effort has been expended to make the math attractive. A person wishing to slog through the math will have to be prepared to sit down with pencil & paper & patience. Some editing by someone who cared would have made this book much more attractive to the average student. Martin Baxter & Andrew Rennie's "Financial Calculus" gives a good example of how this can be done.