Customized Derivatives: A Step-by-Step Guide
Customized Derivatives: A Step-By Step Guide To Using Exotic Options, SWAPS, And Other Customized Derivatives (418 pages, $70.00, 1997), by K. Ravindran, a principal of Consolidated Risk-Management Solutions, Inc., and published by McGraw-Hill. The world of powerful derivatives and derivative products is explored in detail within these pages. Customized Derivatives teaches the building blocks from which all derivatives are calculated. With this knowledge of the basics, it is possible to understand new derivatives as they are introduced as well as construct other products of one's own design. Ravindran includes the long-used models by which derivatives are priced, and teaches the way to use these models to quickly ascertain the fair value for the product.
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Investment Management (466 pages, $49.95 hardcover, 1998), edited by Peter L. Bernstein and Aswath Damodaran, also published by John Wiley, was written by experts in the investment management field for those who manage large portfolios for themselves or for others.
Though the book would be helpful to anyone managing large amounts of investment capital, its wording, as well as many of the charts, tables and graphs, is directed toward the fund manager. The editors set out to make Investment Management a perspective on the process of investing. The end game is to create a portfolio with the optimum balance of risk to reward.
Until such time as perfect investment managers are found, there will be a need for books that show the best ways to deal with the realities of the marketplace. The organization of the book by its editors and the information imparted by the authors assure the reader a valuable experience.
Wiley Book Order Dept., 1 Wiley Drive, Somerset, NJ 08875. Phone 800 225-5945. Internet https://www.wiley.comBACK TO LIST
The Mind Of A Trader: Lessons In Trading Strategy From The World's Leading Traders (288 pages, $34.95 hardcover, 1997), by Alpesh B. Patel, published by Financial Times Pitman Publishing. The really successful traders seem to have an edge. Finding out what that edge is by getting into the thinking of some of those traders is the focus of this book. The Mind Of A Trader is a collection of interviews with 10 of the world's best traders. While their individual tactics vary, as do the markets they trade, there is a definite thread in the way they think.
This is a series of what each of these master traders believes to be the thinking that brought them to where they are today. The interviews are fascinating, the implied wisdom well-given and the book an excellent source of knowledge.
Financial Times Pitman Publishing, Suite 444, 1101 King St., Alexandria, VA 22314. Phone 703 519-2172, fax 703 739-6484. Distributed by National Book Network, 800 462-6420. STOCKS & COMMODITIES readers qualify for a discount if they purchase this work from Traders' Library (800 272-2855, ext. A150): $28.BACK TO LIST
Financier: The Biography Of Andre Meyer, A Story Of Money, Power And The Reshaping Of American Business (392 pages, $29.95 hardcover, 1998), by Cary Reich, published by John Wiley. This is a fascinating look at an American icon of business. Reich, who died of pancreatic cancer as STOCKS & COMMODITIES went to press, looks at financial giant Meyer through many eyes, some of which adored him, some of which hated him, and often the difference was only time. He was cunning, ruthless and very insecure, a volatile combination that often displayed itself in a very unbusiness-like manner. At the same time, he could be an enchanter, often becoming close friends with the men whose wives had fallen under his charm.
The main thrust of this biography looks at the business skills of this master of negotiation. Meyer worked from early morning to late at night, not because he needed to, but because he loved it. Presidents sought his advice. Corporations owed him their very existence. When it came to money and power, even the Rockefellers acknowledged his genius. The life of Meyer, combined with the award-winning story-telling ability of Reich, make this a book hard to put down.
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Cashing In On The Dow: Using Dow Theory To Trade And Determine Trends In Today's Markets (320 pages, $29.95 hardcover, 1998), by Michael D. Sheimo, published by AMACOM. The Dow theory is well over 100 years old. It is about the oldest news there is in technical analysis. It is also the basis for much of what technical analysis is today. Sheimo, a well-known expert on the Dow theory, uses his knowledge of the subject to provide his readers with a clear understanding of how the Dow theory came about in the first place, the history of changes made to it over the years and the strength it holds today.
Charts, graphs and formulas allow both the novice and the veteran to understand and enjoy this work. This book is the streamlined, computer-enhanced, 1998 concept vehicle built on the basics of the 1884 original.
AMACOM, 1601 Broadway, New York, NY 10019. Phone 800 262-9699. Internet https://www.amanet.orgBACK TO LIST
