Book Description
A practical guide to building fully operational financial cash flow models for structured finance transactions
Structured finance and securitization deals are becoming more commonplace on Wall Street. Up until now, however, market participants have had to create their own models to analyze these deals, and new entrants have had to learn as they go. Modeling Structured Finance Cash Flows with Microsoft Excel provides readers with the information they need to build a cash flow model for structured finance and securitization deals. Financial professional Keith Allman explains individual functions and formulas, while also explaining the theory behind the spreadsheets. Each chapter begins with a discussion of theory, followed by a section called "Model Builder," in which Allman translates the theory into functions and formulas. In addition, the companion CD-ROM features all of the modeling exercises, as well as a final version of the model that is created in the text.
Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.
Customer Reviews:
Good Intro to Cash Flow Modeling.......2007-09-20
Anyone needing to learn how structured finance cash flow models work will benefit from going through this book and building the spreadsheet-based model it describes. It will be faster if you are already good at using Excel for complex modeling or pricing, but there is a fair amount of Excel advice for those who need it. The book models a single pool of mortgages that can be described by weighted average statistics incorporating both prepayment and default scenarios. Great care is taken to make the model flexible in terms of the kinds of mortgages in the pool. On the liability side the model allows for the creation of a single senior class and a sub class with an interest rate swap and a reserve. While very good for learning the cash flow consequences of sequential and pro rata payment waterfalls, this model cannot describe the structures actually issued in the market. The skills learned, however, should allow the reader to build models capable of modeling issued structures.
The writing is clear and the examples are explained well. The flow of cash into and out of the structure is emphasized by clear inputs, cash flow modeling and summary outputs.
Excellent introduction to MBS modeling.......2007-08-13
Keith's book saved me hours of trial-and-error effort with Excel for modeling structured transactions. This book takes a simple, step-by-step approach to help the reader understand the mechanics of building the cash flow model for Mortgage Backed Securities (MBS).
Once you understand the basics of model creation and cash flow, then it is a matter of refining your skills by revere-engineering more MBS transactions out there. You will find all the basic tools to become proficient in that task by following this book.
Excellent Hands-On Introduction to Structured Finance.......2007-06-03
In structured finance, there is a tremendous discrepancy between academic literature and practice. In purporting a generalizable, scientific approach, many textbooks avoid explaining the intracacies of actual structured finance deals. The fundamental issue is that the implicit value of deal transparency required for issuer and investor tends to be overlooked by authors approaching the field from an academic background. Technical pyrotechnics that suit liquid markets fail when fees, interest rates, and other deal specifics are malleable constructs negotiated among a handful of parties. At the same time, basic bond math on an unsegregated pool of loans cannot accurately describe how assets generate cash flows and the risks faced by investors.
MFSC is the *only* book (afaik) that demonstrates how real structured finance pros bridge the void between these 2 common pitfalls made by other structured finance books. For one, the calculations that belie each component of a structured finance deal is integrated into a single model rather than considered separately. Other books may describe how cash flows pay out in a senior-sub structure, but they won't, for example, take the time to step through how funding costs and triggers affect the cash flows. The primary model also gives the user flexibility to stress the model and enables the user to treat the model as a base for all structured finance deals. Through a neatly organized inputs sheet, each component in the primary model described painstakingly anticipates the gamut of variations common to these types of deals.
All this in a book that's easy to follow and a delight to read. Five stars.
Modeling of CMBS.......2007-06-03
Keith's book does an excellent job at helping both new analysts to MD's in understanding modeling of complex master tapes (models). If you need to know how to structure a fixed or floating rate transaction this book will give you key tools to understand, build and read strats, term sheets, and OC data. Many of the functions and formulas that are explained are used in real working models but in additon to that this book explains key concepts in the structured finance world. Unlike other books this book has a much more active learning style and really gets you involved.
I look forward to the day when Keith writes a book focusing on CMBS, I will defintely buy that one also.
TM
CIB
CMBS
Very Good for Professionals.......2007-05-07
The book explains very well the building and works of a very huge excell worsheet, for professionals it will be a great and interesting reading, and sometimes it will be like a great novel, when you can't stop reading
and always want to go to the next chapter before leaving it.
For begineers it will be a little hard to understand the concepts and the meanings of each chapter, but it will help too.
Average customer rating:
- HORRIBLE BOOK!
- from a student...
- Wonderful precalculus deep inside the functions and modeling
- Incomplete, discouraging, Unhelpfull book that only hinders the learning process
- A travesty for the money
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Functions Modeling Change: A Preparation for Calculus
Eric Connally ,
Deborah Hughes-Hallett ,
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Karen Rhea ,
Carl Swenson ,
Frank Avenoso ,
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Brigitte Lahme ,
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Functions Modeling Change: A Preparation for Calculus
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Calculus: Single Variable
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Functions Modeling Change, Student Solutions Manual: A Preparation for Calculus
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Calculus: Early Transcendentals Single Variable
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Trigonometry (8th Edition) (Lial/Hornsby/Schneider Series)
Accessories:
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Student Solutions Manual to accompany Functions Modeling Change, 2nd Edition
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Graphing Calculator Guide for the TI-83 to accompany Functions Modeling Change: A Preparation for Calculus, 2nd Edition
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Student Study Guide to accompany Functions Modeling Change: A Preparation for Calculus, 2nd Edition
ASIN: 0471456535 |
Book Description
This is a new edition of the precalculus text developed by the Consortium based at Harvard University and funded by a National Science Foundation Grant. The text is thought-provoking for well-prepared students while still accessible to students with weaker backgrounds. It provides numerical and graphical approaches as well as algebraic approaches to give students another way of mastering the material. This approach encourages students to persist, thereby lowering failure rates. A large number of real-world examples and problems enable students to create mathematical models that will help them understand the world in which they live.
The focus is on those topics that are essential to the study of calculus and these topics are treated in depth.
- Linear, exponential, power, and periodic functions are introduced before polynomial and rational functions to take advantage of their use to model physical phenomena.
- Building on the Consortium's Rule of Four: Each function is represented symbolically, numerically, graphically, and verbally where appropriate.
Customer Reviews:
HORRIBLE BOOK!.......2007-06-27
I am currently taking pre-cac in summer school and I fear I will have to drop the class! This book is ABSOLUTELY HORRIBLE in presenting concepts and helping to guide you through the process on figuring things out. There is no reason why I should read a book, be confused, read it again, be more confused, ask friends to read it and have them be confused. I don't know how educators get away with writting books of such low quality-- and I have even less of an idea how a school chooses to use such a book. Minimally, instructors should be looking here to see the absolutely horrible feedback on this book and CHOOSE A DIFFERENT TEXT! It seems the only reason why my summer school is using this book is due to the fact that it was written by some professors here. For such a prestigous university that surely strikes of a highly unintelligent decision.
from a student..........2007-06-25
I did appreciate the applications approach, but I felt like with almost every lesson that there were not nearly enough practice problems. A formula would be introduced with only two practice problems, only one of which is in the back of the book (of course). In my study groups, we would work those same two problems a few times and feel confident, then bomb the exam. If I remember correctly, I believe you can order an extra workbook in this series. I would recommend this text IN ADDITION to a workbook.
The biggest problem that I saw with my department adopting this textbook is that the instructors really do not teach the applications approach. I would go home to study and find that the text did not follow at all what we were covering in class. The innovative approach of the textbook was thereby lost as we flipped back and forth between the chapters trying to cobble together problems to match lectures.
Wonderful precalculus deep inside the functions and modeling.......2006-05-10
I really have difficulties to understand some reviewers given one star for such a wonderfull book. If you read this book before Uni, you will have a stable ground for calculus.
All frequently used functions and their practical usage as modelling tools are lucidly explained. I finally know what hyperbolic functions are, I finally know how the path from given data to an appropriate model. I finally know how can I practically sketch seemingly complex but simple functions.
It's strength based on model oriented approach to functions. This has pratical value for all candidate engineers...
Without any doubt I'll give five stars to acknowledge the authors.
Incomplete, discouraging, Unhelpfull book that only hinders the learning process.......2006-04-27
This is probably the most incoplete, inarticulate book I've ever used so far in my 3 years in college. It fails to COMPLETELY explain ALL THE MANY concepts you will ,sort-of ummmm, need to pass the class,tests or even complete the problems within the book. Expect to buy at least one other pre-calc text to clearly explain EVERYTHING this book consistently DOESN'T. This book is not a student-friendly one, its more of an EXPERT MATHEMETICIAN-FRIENDLY text book, written for people who already have lots of experience with pre-calculous. First time precalculous students should not actually expect to learn from this book or be able to count on this book as a reliable source to turn to during homework assignments or study sessions... As this book consistently fails to articulate even the most simple of precalculous concepts. If you don't beleive mine along with most other negative ratings of this book, go ahead and compare this book to almost any other precalc text book for yourself. You'll quickly see that EVEN THOUGH YOU'VE PAID A GENEROUS AMOUNT OF MONEY FOR THIS BOOK TO TEACH YOU, this book FAILS TO PERFORM EVERY SINGLE STEP OF THE WAY, PARTICULARLY when you need it to CLEARLY EXPLAIN SOMETHING TO YOU most. REALLY THIS BOOK ONLY MAKES IT HARDER TO UNDERSTAND ANYTHING IT ATTEMPTS TO EXPLAIN. My recommendation is that you buy "THE COMPLETE IDIOTS GUIDE TO PRECALCULOUS" by W. Michael Kelly, an author who thouroughly prooves his TEACHING SKILLS, COMPETENCE and ABILITY TO SUCCESFULLY ARTICULATE concepts so students can actually get some learning out of the time they spend reading his CLEAR, HELPFULL EXPLENATIONS that will actually help you in precalculous.
A travesty for the money.......2006-01-19
The only reason I give it two stars is that the word problems and models are interesting and realistic. The student solutions manual is a rip-off because it does not model each type of problem, nor does it lend itself to greater understanding and clarification. I usually get straight "A's" in math courses because I pour all effort necessary into homework and understanding. I just find myself being frustrated every time I open this book. The examples in each chapter just give me a headache. It is assuming and poorly written. Colleges that require this book for courses in pre-calc and trig should think twice.
Customer Reviews:
Justin London did it again.......2007-07-19
I highlight two points:
1. The inclusion of Matlab and Excel code in almost all topics of the book.
2. All the content is new and more advanced, there is no recovered topics of his previous book.
Offers prebuilt code for immediate use.......2007-06-29
This book offers prebuilt, modifiable code that you can use for energy, power, weather and many other derivatives applications. The download process is fast and easy. For those who use Matlab, C++, or Excel, there is no competition. A great book with unique content and code.
Excellent resource for coding derivatives.......2007-06-16
This book was my ultimate go-to resource on several financial engineering projects (on the buy side). It covers many different derivatives and provides example MatLab and C++ code that is easy to modify and extend.
The instructions for setup and downloading the code could be more clear, perhaps on a CD.
State of the art derivative modeling book.......2007-04-10
Great book. But the code downloading process is a bit weird. Don't know why they just attach a CD.
Describes the Modelling Procedure and Gives the Code.......2007-02-08
Derivatives are not simple things. It almost seems that complexity was a design goal when they were being set up. In order to determine their real value either today or in the future you almost have to model them on a computer.
This book covers dozens of different types of derivatives, including the common ones and some of the new even more esoteric ones. It talks about the structure of the derivative, and then presents models of them. The models are presented in the most common modelling 'languages' in use today. There is a lot of code involved, but there is not a CD included with the book. Instead, an access code providing a one time download for the code. Note, a one time download. Be sure and save the code quickly and on several media. This procedure allows the models to be updated as needed without regard to the time it takes for the book to move from being written to being published, but if you have a disk crash....
The biggest things this book provides are: first, you get to see what an expert in the field has done, and second, you get the code to run his models on your system, and of course you can modify them if you find some other aspect suits your needs better.
This is a new book, first printed in December 2006, so it is current with the derivatives being marketing at that time.
Customer Reviews:
Excellent book.......2004-06-25
This book is definitely very advanced and is very clearly written. The approach will:
- state (and explain) business problems
- explain the rational in choosing the computer tool (despite the title, the book is not entirely focused on Excel).
- walk you step by step through the modeling process
The CD contains some valuable tools for advances topics (monte carlo and discrete event simulation). Frontline Systems were alo kind enough to send free of charge an updated version of the premium solver for education (the version on CD is not compatible with Excel 2003).
I consider the book a great value and recommend it to anyone who is willing to invest the time to learn from it.
Fasten your seatbelts..........2004-01-28
I'll make two separate sets of comments - one for professors and one for students.
Students first... This will be a difficult course no matter which textbook you use. Having said that, I would say that the text is about average in terms of readability in comparison to other texts on the subject. There are plenty of realistic cases to illustrate basic decision/ management science concepts, as well as a very useful CD, with which I recommend that you become well-acquainted as the course moves forward. Not much has changed since the last edition, so you may be able to get by with a previous edition if the textbook (authored by Eppen). Be advised, however, that some of the chapter materials have been re-arranged, including the exercises at the end of each chapter.
For professors... You are probably already aware that this course can be challenging for the professor as well as the student, esp. with respect to how math-intensive you wish the course to be. I think Moore & Weatherford is an excellent text, but it is written as an advanced graduate text. I have been able to "tone it down" for undergraduates by accompanying it with a nice, soft, theory-oriented text on decision/ management science (featuring the teachings of Herbert Simon and some of the early decision science theorists). The text is accompanied with ample instructor resources including a very useful CD with solutions, decision science software. I would engage the students w/ the CD as early as possible. I have also found that the best exams for this course are take-home exams - give the students some moderately challenging decision models to formulate and solve, and focus your evaluation primarily on how well they are able to interpret the results and propose recommendations for decision makers, and secondarily on whether they were able to get the software to spit out the right answers.
Confusing and Poorly Written.......2004-01-22
Had to buy this book for my class. On the surface it looked OK -- plenty to screenshots and examples, but the problems arise when you try to read the long paragraphs. Language could have been clearer.
Book assumes solid knowledge of Excel, which should be expected of students, but still, some things should not be taken for granted :)
Another classic problem -- chapter 4 refers to examples mentioned in chapter 2. I hate this kind of cross-referencing !
Don't buy it if you can live without it.
...
Unnecessarily difficult to understand.......2003-11-08
This book is makes a difficult subject even more difficult. It assumes that you already know alot of the concepts in it. It kin of leaves you stumbling around in the dark. I hate this book and the person who wrote it with a passion. A good author should be able to explain concepts in clear organized language, I do not care how difficult.
Not for the uninitiated.......2003-02-18
I had to buy this book for class. Even the professor stated that the book was heavy going and has to be reread over and over again to understand it. There are examples but they really don't go over them in enough detail. This book is really for someone who already has a good user knowledge of excel and somewhat familiar with solver. Many of my classmates have expressed dissatisfaction with the contents and how it was written. My main complaint is that there are not enough examples to illustrate the many new concepts found in this book. This is a difficult subject and the book doesn't make it easier.
Average customer rating:
- Excelent book
- I thought I did a review for this book immediately when I received it! It was really good! It's like the best textbook!
- Strongly recommended to practitioner
- Good Cookbook
- Excellent book
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Financial Modeling - 2nd Edition: Includes CD
Simon Benninga
Manufacturer: The MIT Press
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Valuation: Measuring and Managing the Value of Companies, Fourth Edition
ASIN: 0262024829 |
Book Description
Too often, finance courses stop short of making a connection between textbook finance and the problems of real-world business. Financial Modeling bridges this gap between theory and practice by providing a nuts-and-bolts guide to solving common financial models with spreadsheets. Simon Benninga takes the reader step by step through each model, showing how it can be solved using Microsoft Excel®. In this sense, this is a finance "cookbook," providing recipes with lists of ingredients and instructions.
Areas covered include computation of corporate finance problems, standard portfolio problems, option pricing and applications, and duration and immunization. The second edition contains six new chapters covering financial calculations, cost of capital, value at risk (VaR), real options, early exercise boundaries, and term structure modeling. A new technical chapter contains a potpourri of tips for using Excel®.
Although the reader should know enough about Excel™ to set up a simple spreadsheet, the author explains advanced Excel® techniques used in the book. The book includes chapters dealing with random number generation, data tables, matrix manipulation, and VBA programming. It also comes with a CD-ROM containing Excel® worksheets and solutions to end-of-chapter exercises.
Customer Reviews:
Excelent book.......2007-09-24
Is an excelent book to learn and undertand how to creat financial models in excel.
I strongly recomend it.
Romer iragorri
I thought I did a review for this book immediately when I received it! It was really good! It's like the best textbook!.......2007-09-16
Beninnga states things very clearly.
And the sophistication is great.
No matter what level you are in, it's good for you.
And these knowledge are really useful in real world!
I mean,I'm really gonna keep this book for myself after I finish the degree.
Strongly recommended to practitioner.......2007-09-03
The book has great practical value. It also applies to those who wish to implement financial models in other computing environment than Excel.
Good Cookbook.......2007-08-23
Very good on giving an introduction on many modeling techniques.
Exceptionally recommended for the new babe.
Excellent book.......2007-07-19
All students of finance must have one, It's great, If I'd have had it when I was student oh, I'd save a lot of time, now I'm teacher of finance and I recomend all my students to buy it.
Customer Reviews:
Good for the real world too.......2007-03-02
This book was meant for use within a university classroom setting.
Surprisingly, unlike most textbooks, you can actually use this book in the real world. For example, a lot of business plan books and articles casually mention business forecasting. Unfortunately, the large majority of them barely mention any details on how to construct them. Well this book covers it in depth. As for other applications with the use of MS Excel, the book will show you the optimal amount of money you should put down into a select number of investments, how to perform project scheduling (with out MS Project), and the list goes on....
This is a good book.
Average customer rating:
- Tufte's Classic Is A Must Read In Our Statistical Times
- Essential for anyone working with charts and graphs
- Good ideas, nice layout, kinda rambling though
- Fascinating. Quick. Friendly for the non-expert
- An absolutely superb book.
|
The Visual Display of Quantitative Information
Edward R. Tufte
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Envisioning Information
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Visual Explanations: Images and Quantities, Evidence and Narrative
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The Cognitive Style of PowerPoint: Pitching Out Corrupts Within, Second Edition
ASIN: 096139210X |
Amazon.com
A timeless classic in how complex information should be presented graphically. The Strunk & White of visual design. Should occupy a place of honor--within arm's reach--of everyone attempting to understand or depict numerical data graphically. The design of the book is an exemplar of the principles it espouses: elegant typography and layout, and seamless integration of lucid text and perfectly chosen graphical examples. Very Highly Recommended.
Customer Reviews:
Tufte's Classic Is A Must Read In Our Statistical Times.......2007-10-06
This book established Tufte as the authority on the subject of graphs, charts, tables, indeed the display of data by any means. The book is readable by most anyone and will add to your library and your ability to make your way intelligently and critically through the flood of statistical and graphical arguments and pitches placed before us every day.
Simply and confidently Tufte lays out the basics of the right and the wrong, the good and the bad (and occasionally ugly) regarding graphical depictions of data and information.
This book (The Visual Display of Quantitative Information, 2nd edition )is the first and the foundation of four books by Tufte (I. The Visual Display of Quantitative Information, 2nd edition. II. Envisioning Information. III. Visual Explanations: Images and Quantities, Evidence and Narrative. IV. Beautiful Evidence.) that should be read in the order of publication. You will be a wiser person for the effort.
His short book, "The Cognitive Style of PowerPoint: Pitching Out Corrupts Within", while not part of the "four volume set" is a withering attack on the ubiquitous software program, an attack based on the fact that it encourages the user to break nearly every principle that Tufte has spent the last 20 years elucidating in his books regarding the reading and the writing and presentation of well thought out and presented arguments and reports. I've read it and was convinced; PP constrains complex thought, argument, and statistical (indeed any form of) reasoning with its "bullet points", and is a very inefficient means of depicting information as well, cluttering the display space with useless clip art, huge fonts, and often misleading cookie-cutter graphs. (His satirical PP presentation of the Gettysburg Address humorously makes his points, while his analysis of a very real NASA PowerPoint slide from the decision-making meetings regarding the danger to the Space Shuttle Columbia before its destruction on re-entry makes his points in a very sobering manner.)
All this being said, The Visual Display of Quantitative Information is a Great Book. In the internet age we all spend many hours per week looking at visual depictions of information. Tufte's book will make you a more critical user of nearly everything, from the newspaper, to websites, to work presentations, the sports pages, and even your car's speedometer and other gauges. It is the foundation to all of his published work from the last two decades.
Buy this book!
Essential for anyone working with charts and graphs.......2007-03-10
This book fuses mathematical information with art to tell the underlying story and get your message across to the viewer. I would reccommend it to anyone responsible for conveying objective information to others.
Good ideas, nice layout, kinda rambling though.......2007-03-08
This book was very nicely laid out, and the ideas for presenting were good. Sometimes it was a little hard to follow because it rambled a little. But I did get some good pointers that I can use to visualize my data.
Fascinating. Quick. Friendly for the non-expert.......2007-01-09
The book strikes a good balance between major concepts and academic nitty-gritty.
An absolutely superb book........2006-11-23
Tufte presents an examination of a frankly under-esteemed method of data analysis that can be accurately described as passionate. As a Behavioural Scientist trained in sophisticated methods of statistical analysis, I previously was arrogantly inclined to regard charts and graphs as simplistic and naive approaches to data interpretation. However, I now apprehend the undeniable utility of graphical representation, and have acquired a fascination with the field through Tufte's contagious enthusiasm.
If you work with data of any form, it is IMPERATIVE that you read this book.
Book Description
Comprehensive instruction on developing real-world financial models
This book, designed for self-study, classroom use, and reference, presents a com-prehensive approach to developing simple to sophisticated financial models in all major areas of finance. The approach is based on the author's 20 years of experience of developing such models in the business world and teaching a popular MBA class in financial modeling. The book assumes only basic knowledge of Excel and teaches all advanced features of Excel and VBA from scratch using a unique simple method. A companion CD includes all working versions of all the models presented in the book and additional useful reference material.
Chandan Sengupta (White Plains, NY) teaches finance in the MBA program at Fordham University's Graduate School of Business. Formerly, he was vice president of the Chase Manhattan Bank for eight years and senior financial advisor for Mobil Corporation for 10 years. He is also the author of The Only Proven Road to Investment Success (0-471-44307-7).
Download Description
Comprehensive instruction on developing real-world financial models
This book, designed for self-study, classroom use, and reference, presents a com-prehensive approach to developing simple to sophisticated financial models in all major areas of finance. The approach is based on the author's 20 years of experience of developing such models in the business world and teaching a popular MBA class in financial modeling. The book assumes only basic knowledge of Excel and teaches all advanced features of Excel and VBA from scratch using a unique simple method. A companion CD includes all working versions of all the models presented in the book and additional useful reference material.
Chandan Sengupta (White Plains, NY) teaches finance in the MBA program at Fordham University's Graduate School of Business. Formerly, he was vice president of the Chase Manhattan Bank for eight years and senior financial advisor for Mobil Corporation for 10 years. He is also the author of The Only Proven Road to Investment Success (0-471-44307-7).
Customer Reviews:
Horrible Experience.......2007-03-09
I ordered this book on 1/30/2007 and todays date is 3/8/2007 and I am still waiting on my order...Actually, I am no longer waiting anymore because my school semester is more than half over and I no longer have a need for this book. TOO LATE!! I have actually called my bank and insisted that I be given back the money that Amazon has charged me for the services (the book) I have never received. Not a good experience at all!
GREAT book for learning excel and Finance.......2006-09-24
I really enjoyed using this book. The author did a great job of explaining the topics...well wortht the time and price.
Not disappointed at all.......2006-08-03
Great book, step by step approach, but still requires basic knowledge of Excel's core functions. The CD provided is definitely a plus.
No access to Excel files for eBook version.......2006-02-02
I spent a lot of money on this eBook only to find out that I would not receive the Excel files that go along with it. I am stuck either going through this book without the files that it uses throughout or shelling out even more money to buy a hardcopy version just for the attached CD.
Not for professional.......2006-01-29
Just for basic models. Not enough description on complex financial models.
Book Description
In today's increasingly competitive financial world, successful risk management, portfolio management, and financial structuring demand more than up-to-date financial know-how. They also call for quantitative expertise, including the ability to effectively apply mathematical modeling tools and techniques. An Introduction to Credit Risk Modeling supplies both the bricks and the mortar of risk management. In a gentle and concise lecture-note style, it introduces the fundamentals of credit risk management, provides a broad treatment of the related modeling theory and methods, and explores their application to credit portfolio securitization, credit risk in a trading portfolio, and credit derivatives risk. The presentation is thorough but refreshingly accessible, foregoing unnecessary technical details yet remaining mathematically precise. Whether you are a risk manager looking for a more quantitative approach to credit risk or you are planning a move from the academic arena to a career in professional credit risk management, An Introduction to Credit Risk Modeling is the book you've been looking for. It will bring you quickly up to speed with information needed to resolve the questions and quandaries encountered in practice.
Customer Reviews:
read this before going for it.......2007-04-23
Well first off I would like to tell anyone who doesn't have a solid working knowledge of calculus (including multivariate) to avoid this book as it requires multiple integrals and infinite series and sequences. Now onto the good and the bad:
THE GOOD:
This text explains concepts very well and is FULL of examples. I mean literally 3/4 of the book, maybe more, is examples. Every chapter also has a section of problems that have partial solutions, which can come in very handy. This is pretty much all that is good about this text, but keep in mind that explaination is the most important part of any textbook.
THE BAD:
The proofs skip plenty of steps. And I mean plenty, so much that a proof in the book would take 5 lines but when my professor proved it in class it would take him nearly 15. Also while there are tonnes of examples, too many are theoretical and very hard. The book costs a hefty amount of change and is suprisingly small, Author couldl have given few more examples to make it interesting. However the worst thing about this book is how the author leaves important things in with the text often. However most these things are small, and overall the text is a good intro to probability theory.
a very good book.......2006-10-31
The authors wanted to write the book that they themselves would have liked to read before starting a profession in risk management. I am working for a treasury consultancy firm. This book was the best of the five I bought. The text is very clear yet does not assume too much prior knowledge. It covers theory as well as industry practice. The book contains much advanced statistics and readers must have some background in order to handle this. The authors keep it simple but not too simple. Their approach is pragmatic throughout. I am really happy to have read this book when I started doing work in credit risk management.
good combination of math and finance.......2006-02-22
As indicated on the back of the book, the authors are aiming at audience who have some knowledge in both math and finance but may be weak in one and strong in another. Either way, this is a good book to read on credit risk.
Clear and comprehensive.......2005-10-27
This book clearly articulates basic concepts of credit risk modeling. At the same time it is mathematically rigorous. This book enables non mathematician with some (basic) knowledge in probability statistic to better understand and develop his risk management skills.
A good read!.......2004-08-19
Easy to understand with not a tremendous amount of complicated math to dicipher. Just what the doctor ordered.
Book Description
Packed with concrete examples, Hatcher's book provides an introduction to more advanced statistical procedures and includes handy appendices that give basic instruction in using the SAS System. Novice SAS users will find all they need to master SAS basics and move into advanced statistical analyses in this one book. Featured is a simple, step-by-step approach to testing structural equation models with latent variables using the CALIS procedure. The following topics are explained in easy-to-understand terms: exploratory factor analysis, principal component analysis, and developing measurement models with confirmatory factor analysis. Other covered topics of note include "LISREL-type" analyses with the user-friendly PROC CALIS and solving problems encountered in real-world social science research.
Supports releases 6.09 and higher of SAS software.
Customer Reviews:
Very Good .......2007-08-06
More detailed explanation of every subject discussed. Nothing was assummed. The appendix include vital information for new SAS users.
Absolutely outstanding.......2007-05-23
This is the single best statistics text I've ever read. It's extremely easy to follow, very practical, and gives outstanding examples. Everything is so clearly described in the book that one might call it Factor analysis and SEM for Dummies. I only wish that the book covered nonrecursive SEM models.
Easy to read.......2006-11-03
Very easy to read. Examples are simple and effective. The book explains the statistical concepts as well as the SAS programming tricks. In fact, the book provides complete code - you will be able to get good amount of analysis done just by copying that code. However, you also need to buy the "The Little SAS Book" if you never used SAS before.
Excellent book.......2003-05-01
This outstanding book was one of the mainstays for my Ph.D. dissertation. It explain factor analysis and SEM techniques in a clear and effective way, with an hands-on approach that guides the reader during all the data analysis and result interpretation phases.
Thank goodness for this book.......2002-10-21
I really needed this for my dissertation. As a computer scientist who is using statistically-based data mining techniques in my PhD dissertation, I needed a good "Quick Course" in factor analysis. More important than just "what is factor analysis", I needed to know how to implement my ideas in SAS. This book did the trick. Now let's hope my advisors think so. :)
Books:
- Modern Control Systems (10th Edition)
- MP for Convective Heat & Mass Transfer
- Nonlinear Control Systems (Communications and Control Engineering)
- Nonlinear Oscillations, Dynamical Systems, and Bifurcations of Vector Fields (Applied Mathematical Sciences Vol. 42)
- Numerical Solution of Partial Differential Equations: An Introduction
- Optimal Control Theory: An Introduction
- Optimal Control Theory: An Introduction
- Optimization by Vector Space Methods (Series in Decision and Control)
- Partial Differential Equations (Graduate Studies in Mathematics, V. 19) GSM/19 (Graduate Studies in Mathematics)
- Petri Nets for Systems Engineering
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Structured Finance Modeling with Object-Oriented VBA (Wiley Finance)
Introduction to Structured Finance (Frank J. Fabozzi Series)
Credit Risk Modeling using Excel and VBA (The Wiley Finance Series)
Collateralized Debt Obligations: Structures and Analysis, 2nd Edition (Wiley Finance)
The Structured Credit Handbook (Wiley Finance)
