Satyajit Das

[pauly]

has anyone read his derivatives/risk management library (4 volumes I think)? If so, any thoughts regarding its usefulness for an absolute beginner to understand derivative pricing, particularly someone with a very weak math background.

 

[Tsotne]

has anyone read his derivatives/risk management library (4 volumes I think)? If so, any thoughts regarding its usefulness for an absolute beginner to understand derivative pricing, particularly someone with a very weak math background.

I don't know anything about his editions but weak math background is gonna make you "suffer" while studding derivatives. Consider it as the highest math-application discipline. You should begin with math, statistics and then move to derivatives. I learned from Robet McDonalds derivatives and currently studding from Willmot 3 volumes book. If you anyway decide to study derivatives with no math walk-through (which I'd strongly dis-recommend) then my advice would be to try Willmot. It begins with the simplest math (continuous compounding) and takes you through well-sequenced materials over derivatives in general, covering very interesting parts. But again, you're gonna suck with math somewhere in the middle if you directly embark on it.

Best
Tsotne

 

[bigbadwolf]

has anyone read his derivatives/risk management library (4 volumes I think)? If so, any thoughts regarding its usefulness for an absolute beginner to understand derivative pricing, particularly someone with a very weak math background.

I've seen one of his books. He writes clearly. I don't remember how much math he uses -- I'm fairly (but not completely) sure there's no stochastic calculus in his oeuvre. If you can, glance at a copy of McDonald's Derivatives Markets. If the first few chapters are within your ken, that book might be preferable. Incidentally, I prefer it to Hull.

 

[Tsotne]

@pauly

I've seen one of his books. He writes clearly. I don't remember how much math he uses -- I'm fairly (but not completely) sure there's no stochastic calculus in his oeuvre. If you can, glance at a copy of McDonald's Derivatives Markets. If the first few chapters are within your ken, that book might be preferable. Incidentally, I prefer it to Hull.

Good suggestion. I occasionally came across this edition recently and basically I can say that it reinforces my thoughts about derivatives books. Some of them explain the concepts clearly (like for example Options, Futures an Other derivatives by Hull) and concentrates on less math, while others like McDonalds derivatives which I learned concentrates mainly on mathematical modeling while giving less(and in some cases not enough explanation of the concept being discussed). Wilmott on the other hand blends both of the techniques and explains in detail what he finds to be interesting and important while (I can provide many topics) some of the concepts are just reviewed quickly.

If you decide to get the McDonalds Derivatives Markets, write me in conversation and I'll help you get the written in-detail explanation (by professors at various universities) of the concepts which are covered in this book and also on the above books mentioned.

 

[pauly]

@pauly


Good suggestion. I occasionally came across this edition recently and basically I can say that it reinforces my thoughts about derivatives books. Some of them explain the concepts clearly (like for example Options, Futures an Other derivatives by Hull) and concentrates on less math, while others like McDonalds derivatives which I learned concentrates mainly on mathematical modeling while giving less(and in some cases not enough explanation of the concept being discussed). Wilmott on the other hand blends both of the techniques and explains in detail what he finds to be interesting and important while (I can provide many topics) some of the concepts are just reviewed quickly.

If you decide to get the McDonalds Derivatives Markets, write me in conversation and I'll help you get the written in-detail explanation (by professors at various universities) of the concepts which are covered in this book and also on the above books mentioned.

Thanks, much appreciated. Anything you can send my way would be great

 

[Tsotne]

@pauly

Write me your mail and I'll send some useful readings.