Rating: Summary: Decent Review: The Kellison book has its advantages and disadvantages, but it depends on what your objective is. If you want to pass Actuarial exams use this book as a reference but don't bother with the excercises, use the Actek Manuals in past exams. It does an excelllent job at describing the Theory of Interest, Bonds but it really falls short on more advanced subject material such as Interest Rate Immunization, Brownian Motion/Stochastic Theory, derivatives and portfolio theory. Granted that these subjects might be beyond the scope of the text. But overall go out and buy it, I still haven't found a finance book that has completely fulfilled me but maybe that's because I'm too picky.
Rating: Summary: Decent Review: The Kellison book has its advantages and disadvantages, but it depends on what your objective is. If you want to pass Actuarial exams use this book as a reference but don't bother with the excercises, use the Actek Manuals in past exams. It does an excelllent job at describing the Theory of Interest, Bonds but it really falls short on more advanced subject material such as Interest Rate Immunization, Brownian Motion/Stochastic Theory, derivatives and portfolio theory. Granted that these subjects might be beyond the scope of the text. But overall go out and buy it, I still haven't found a finance book that has completely fulfilled me but maybe that's because I'm too picky.
Rating: Summary: Horrible Review: This book is required for my Math of Investment class at NYU:its practical examples are terrible. I had to buy another book to understand the subject matter. (FYI the other book I purchased was the Schaum's College Outline Series-Math of Finance)
Rating: Summary: books for advanced econ learner Review: this is really a good book.it shows u the very correct concept on interest, which is different from the other economics' text.if u are interested in the most orthdox way of economics learning, this is an excellent choice!!!!
Rating: Summary: Patient and thourough but too dense for most Review: This text has everything you could possibly want to know about present value, future value, annuities certain, bond amoritization and virtually any subject in mathematical finance. It's an excellent introduction to actuarial study and notation but is frankly too dense for the average reader. It throws one new symbol after another at you and if you want to make it through the text you have to gobble them all up. For an actuarial candidate the alternate text by Parmenter (Theory of Interest, Life Contingencies, and Pension Applications) offers a more manageble option and gives an introduction to higher level subject matter to boot.
Rating: Summary: Not as helpful as other material Review: This text is not very helpful at all. I used it in my Interest Theory class and started to use it for Course 2 exam, but both times came out confused. Luckily, in school, I had a great professor who did not bother using it as a teaching tool, rather as a source for homework problems. He used his own material to actually teach us the concepts. As for studying for Course 2, you will do much better using one of the manuals, such as Actex or BPP. Still, it does provide some good explanations of concepts, if you can just figure out what it's saying. A bit wordy at times.. :-)
Rating: Summary: A bible to financial mathematical knowledge Review: Whoever masters this book will love and master any area of finance. However, readers must note that this is not a "light" book. It's rather academic and will require a good knowledge of calculus, statistics (for chapters beyond #9) and even stochastic process. If you are enrolling in an actuarial education program this is THE BOOK
Rating: Summary: A bible to financial mathematical knowledge Review: Whoever masters this book will love and master any area of finance. However, readers must note that this is not a "light" book. It's rather academic and will require a good knowledge of calculus, statistics (for chapters beyond #9) and even stochastic process. If you are enrolling in an actuarial education program this is THE BOOK
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