Derivatives : The Tools That Changed Finance

By Phelim P. Boyle

This title sets out to equip the lay reader with a clear and thorough explanation of financial derivatives and how they work. It features an introduction to the entire realm of derivatives, utilising... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 189933288X
• ISBN13: 9781899332885
• Release Date: June 2001
• Publisher: Risk Publications
• Length: 203 Pages
• Weight: 1.40 lbs.

Customer Reviews

Eric Reiner, UBS Warburg

"This book admirably fills the long-standing gap between highly technical texts on derivatives mathematics which often leave their readers unaware of the financial contexts and uses of these instruments and popularizations which tend to emphasize disaster stories at the expense of communicating the key ideas behind derivatives and the valid reasons for the rapid growth of these markets over the past decade." Eric S. ReinerManaging Director, UBS Warburg

Professor John Hull

"A great read... perfect for senior managers and directors who need a non-technical understanding of what derivatives are all about." John HullMaple Financial Chair in Derivatives and Risk ManagementDirector, Bonham Centre for Finance

Paul Embrechts

he authors are to be congratulated on the gem produced. Through this book, the whole field of financial derivatives comes to live in all its colorful apsects. The historical drama, with several ups and downs, unfolds in a masterly written way. Everyone, from the most non-quantitative trader to the more mathematically oriented rocket scientist will learn a lot from reading this lovely book. I can also highly recommend it as extra reading for any course on derivatives. Paul Embrechts Department of Mathematics ETH Zurich

Harvard Business School - Working Knowledge

Derivatives: The Tools That Changed Finance by Phelim P. BoyleRisk Books, 2001HBSWK Pub. Date: Oct 22, 2001 If you start to feel queasy when the conversation turns to derivatives, this is the book for you. Finance professor Phelim Boyle and his fund manager son, Feidhlim, have teamed up to demystify derivatives for the layman in Derivatives: The Tools That Changed Finance. Starting with the underlying concepts behind derivatives, this dynamic duo explains what derivatives are, how they can decrease (or increase) risk, and how they work. Using analogies of tennis matches, hanging chads, and walks in the woods, the authors bring the concept of derivatives down to earth. If your company uses derivatives to manage risk, or you just want to know what they are all about, you'll get a great education with this small investment.

Entertaining Yet Informative

Flipping through your standard book on derivatives it is easy to become frustrated by the amount and complexity of mathematical formulas used. What sets Derivatives: The Tools that Changed Finance apart is that it provides a thorough overview of what derivatives are, how they work and why they are so important without burdening the reader or hurting the flow of the book with elaborate and intricate mathematically equations. Using pop culture examples to help illustrate complex ideas in an easily understandable format, the authors provide an intriguing and highly informative overview of one of the most important financial instruments in use today. Because these examples correspond to real life scenarios they provide a much more effective method of explaining financial concepts than traditional math laden descriptions.The authors seem to be enjoying the topic, which makes it easier for the reader to get caught up in their enthusiasm. This amusing yet highly informative approach is the greatest strength of Derivatives, however it also should be noted that because of this approach this book might not be as satisfying for those looking to learn about the detailed mathematics upon which these instruments are based. That being said, this book will be enjoyed by a wide range of individuals from those with no financial background to those who are familiar with derivatives but are seeking a richer understanding of the field.