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Showing posts with label Futures. Show all posts
Showing posts with label Futures. Show all posts

Saturday, July 27, 2013

Framework for Marketing Management (5th Edition), Paperback, Philip Kotler


This book contains page after page of definitions and reads like a dictionary in paragraph form. The test bank (that my professor uses) is full of definition questions. At an MBA level, this is a mockery of the students' abilities. By graduate school it is safe to say we know how to memorize definitions. We are looking for applicable marketing skills, which are not addressed in this book. Waste of money!

As a Graduate student in an MBA program my focus has been in financial and sales. Not having any experience with marketing put me at a disadvantage.
This text managed to cover all aspects of this subject in an effective way and also provide real world examples.
A good read.

It is basically page after page of definitions and descriptions of concepts. Not many examples of good strategies. It is like reading a thesaurus. I hate this book.

This review is only for this book, not for any other books by the same authors. Yes, there is great information in this book about marketing, but I must say the greatest talent is wasted in poor writing (if they call this a book). The information is told in a very dry manner and rarely there are examples provided for ideas. It assumes you already know the author's other work. The authors' other books are much thicker, which makes me believe that this is just a "book of outlines" of all the great details in the other books. What I don't get the most is the cost, $113 at Amazon!!! Wow, I start to question the messages the authors are teaching on marketing! Who would buy this book?!! If I am not forced, I would never. There are many good marketing books out there that are fitting to modern day markets. Shame on the professors who only provide this book for the MBA classes and not providing the real marketing books!

"As a college professor I assign this book for several reasons; (1) it is concise and gives a summary overview of major topics in marketing; (2) this means that I as the teacher add in REAL TIME examples to supplement the book so the student aren't reading out-dated material; (3) it is MUCH cheaper than 'other' marketing textbooks since it is concise. I believe it is up to your teacher to add in any material that will make the content come alive for the class. This book clearly does what it intends to do - provides a concise summary of major topics so the creative teacher can add in his/her own examples, cases, simulations etc to enrich the content."



Product Details :
  • Paperback: 360 pages
  • Publisher: Prentice Hall; 5 edition (March 3, 2011)
  • Language: English
  • ISBN-10: 0132539306
  • ISBN-13: 978-0132539302
  • Product Dimensions: 0.6 x 7.3 x 8.9 inches

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Monday, April 8, 2013

Options, Futures, and Other Derivatives and DerivaGem CD Package, 8th edition, John C. Hull



This review is written for many of those switching to quantitative finance from other fields. Hull's book will become an essential foundation-builder for such people.

Let's assume you want to become a quantitative analyst or a risk manager switching from another, preferably quantitative, field. Then in order to get a job you need to have the following:

1. Knowledge of derivatives and markets;
2. Knowledge of statistical methods and data analysis with applications in finance;
3. Computational methods supported by software such as C++ and R to be able to apply theoretical knowledge obtained in 1 and 2;
4. Proof that you have decent understanding of finance through obtaining a designation such as PRM (Since, under our assumption, you enter finance from a different field, you don't have work experience. That is why PRM will be the most suitable for you as you will just need to be well prepared academically to pass the exams and get the designation).

The book under review will be absolutely essential for you for clearing steps 1 and 4. It has been written with the care for the reader in mind.

Hull, in contrast to many other authors, does not try to show off his intellectual superiority by using complicated and abstract language which would normally be designed to make the reader feel miserable. In contrast, he wants the reader to become knowledgeable by carefully guiding him through complicated topics with numerous examples and explanations. The friendliness of exposition does not mean that the rigor is lost though; the book is written with the perfect rigor, but it is achieved without making it too dry and abstract. The scope of coverage is amazing: all major aspects of derivatives and markets connected with them have been covered. Particular importance is that Hull gives lots of practical exercises which should be completed to obtain fluency in the theory and its applications. Only after you work carefully through the book, you can strengthen your skills of (1) by working through other texts, such as Joshi's The Concepts and Practice of Mathematical Finance (Mathematics, Finance and Risk) and More mathematical finance.

To get the grasp of (2) and (3), you can work through Ruppert's Statistics and Data Analysis for Financial Engineering (Springer Texts in Statistics) and Joshi's C++ Design Patterns and Derivatives Pricing (Mathematics, Finance and Risk).

This book, together with the official handbook, will definitely prepare you for PRM, thus fulfilling (4). Without it, preparation for the PRM will be difficult, if you don't have prior financial experience.

I don't know about another high-quality, reader-friendly resource which could compete with Hull's book in providing a strong foundation in becoming a serious financial engineer. When one is entering new field, a good starting book is essential as it will either make the transition easy or frustrating. The book under review will make such transition painless.

One of the most thorough and clearly written texts on the complex subject of Derivatives Finance, this book is very well suited for academic purposes as well as for practicioners of finance. An impressive feature of the style in which the material is presented is that the author does not try to impress the reader with sophisticated mathematics, but instead adopts a more intuitive approach to communicating the way in which financial instruments are priced. This is a rare feature of high-level finance books, and makes the reading experience more fluid and instructive.

I have read many books before this book, including Shreve, Cont and Tankov, etc. All those books are supposed to be "standard" textbooks for MFE students or students in other fields who want to become Quants. However, Hull's Book is the only one that taught me "why" besides "how". After reading this book, all mathematical formulas finally become clear to me. The pain in studying quantitative finance is that you understand various pricing models but don't know why they are useful. Hull did an excellent work in bridging the two.

Product Details :
Hardcover: 864 pages
Publisher: Prentice Hall; 8 edition (February 12, 2011)
Language: English
ISBN-10: 0132777428
ISBN-13: 978-0132777421
Product Dimensions: 8.2 x 1.4 x 10.3 inches

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