内容简介
"Getting agreement between finance theory and finance practiceis important like never before. In the last decade the derivativesbusiness has grown to a staggering size, such that the outstandingnotional of all contracts is now many multiples of the underlyingworld economy. No longer are derivatives for helping people controland manage their financial risks from other business andindustries, no, it seems that the people are toiling away in thefields to keep the derivatives market afloat (Apologies for themixed metaphor ) If you work in derivatives, risk, development,trading, etc. you'd better know what you are doing, there's now abig responsibility on your shoulders. In this second edition of"Frequently Asked Questions in Quantitative Finance" I continue inmy mission to pull quant finance up from the dumbed-down depths,and to drag it back down to earth from the super-sophisticatedstratosphere. Readers of my work and blogs will know that I thinkboth extremes are dangerous. Quant finance should inhabit themiddle ground, the mathematics sweet spot, where the models arerobust and understandable, and easy to mend. ...And that's whatthis book is about. This book contains important FAQs and answersthat cover both theory and practice. There are sections on how toderive Black-Scholes (a dozen different ways ), the popular models,equations, formulas and probability distributions, critical essays,brainteasers, and the commonest quant mistakes. The quant mistakessection alone is worth trillions of dollars I hope you enjoy thisbook, and that it shows you how interesting this important subjectcan be. And I hope you'll join me and others in this industry onthe discussion forum on wilmott.com. See you there ""FAQQF2."..including key models, important formulae, popularcontracts, essays and opinions, a history of quantitative finance,sundry lists, the commonest mistakes in quant finance,brainteasers, plenty of straight-talking, the Modellers' Manifestoand lots more. Paul Wilmott has been called "the smartest of thequants, he may be the only smart quant" ("Portfolio"magazine/Nassim Nicholas Taleb), "cult derivatives lecturer"("Financial Times"), "the finance industry's Mozart" ("SundayBusiness"), "financial mathematics guru" (BBC) and "a very naughtyboy" (his mother).