Managing Financial Risk: A Guide to Derivative Products, Financial Engineering, and Value Maximization

Rating:
Summary: Not a waste of time and money
Review: A good find in a world full of books based on the same subject. Worth spending your time on. Read it and enjoy it.

Rating:
Summary: Caveat Emptor
Review: I also use this book as part of the Masters course in Sydney and I cannot remember the last time I picked it up to read as I have better things to do with my time than try and work through the glaring errors in formulae, graphs and general commentary. The presentation is verbose and circumlocutory and to add to the frustration often wrong. I feel obliged to warn potential buyers not to make the same mistake that I have. Gallitz on Financial Engineering is a far more interesting and accurate text and for the rigours of applied financial maths Mastering financial calculations teaches you more in 200 pages than Smithson could in a lifetime of trying to improve on this first edition. If anyone would like my copy of Smithson I'm happy to give it away for fear further sales may encourage McGraw Hill to continue publishing the book.

Rating:
Summary: Covers a lot of grounds on derivatives. Great reference.
Review: I bought this book to give myself a thorough education on derivatives. And, I got it. It is very readable, yet it covers all the topics in adequate technical detail, so you can hold your own in the company of derivatives traders and the like. I often refer to this book, to refresh my memory on the different structure of option models, or how to value an interest rate swap. This is the sort of stuff you will not remember unless you use these concepts on a weekly basis. But, with this book, it does not matter, it is easy to refresh your knowledge.

Rating:
Summary: Covers a lot of grounds on derivatives. Great reference.
Review: I bought this book to give myself a thorough education on derivatives. And, I got it. It is very readable, yet it covers all the topics in adequate technical detail, so you can hold your own in the company of derivatives traders and the like. I often refer to this book, to refresh my memory on the different structure of option models, or how to value an interest rate swap. This is the sort of stuff you will not remember unless you use these concepts on a weekly basis. But, with this book, it does not matter, it is easy to refresh your knowledge.

Rating:
Summary: Financial Book, not for begineer
Review: The book is written in a complex way. For example, a simple future contract, was explained in long and complex way. It is not able to show the point directly. Anyway, it is not a bad point. It has some quite excellent practical example. It is the most valuable parts of the book.

Rating:
Summary: Financial Book, not for begineer
Review: The book is written in a complex way. For example, a simple future contract, was explained in long and complex way. It is not able to show the point directly. Anyway, it is not a bad point. It has some quite excellent practical example. It is the most valuable parts of the book.

Rating:
Summary: Needs Better Organization
Review: This book has lots of good information, but it needs better organization. A glossary and a more extensive index would help, but importantly, the author needs to learn to give clear definition at the point at which he introduces a new concept. E.g. there are no references in the index to the different concepts of risk (performance risk, financial price risk, etc.), and where these various concepts are first used there tend to be no introductory and no later (post elaboration) essentializing explanation or definition of the pertinent concept. This is not a book for neophytes to this subject; since I am one, I found it very unwieldy reading.

Rating:
Summary: Examples are enjoyable but plenty of obvious mistakes
Review: We are using it as our textbook for our Master course in Australia. Both the teacher and students found that the practical examples are very interesting. However, there are inconsistencies in the usage of exchange rate presentations. Some mathematical calculations and charts are obviously wrong. Mr Smithson, please spend more time to amend your book. Thanks.

Rating:
Summary: Great "Big Picture" book on Financial Risk
Review: We used this book in an MBA Financial Risk course. I think it' a fantastic book for everyone who want to get a big picutre of derivatives applied to financial risk management. It's a great basic book in order to proceed futher studies in topics like Value at Risk. Smithson amd Smith done a great job in covering many subjects in one book. You learn about the basics of derivatives, numerical methods, engineering products, and handling risk for financial and non financial companies.

Rating:
Summary: Great "Big Picture" book on Financial Risk
Review: We used this book in an MBA Financial Risk course. I think it' a fantastic book for everyone who want to get a big picutre of derivatives applied to financial risk management. It's a great basic book in order to proceed futher studies in topics like Value at Risk. Smithson amd Smith done a great job in covering many subjects in one book. You learn about the basics of derivatives, numerical methods, engineering products, and handling risk for financial and non financial companies.