Options, Futures and Other Derivatives (6th Edition) | John C. Hull

Options, Futures and Other Derivatives (6th Edition) | John C. Hull | Outstanding, but lacks depth

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Options, Futures a...

	Options, Futures and Other Derivatives (6th Edition) John C. Hull Prentice Hall, 2005 - 816 pages average customer review:based on 72 reviews view larger image
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highly recommended

One of the great foundation texts in finance(******) 6 stars

I am a huge fan of this book. The fourth edition was the single most influential text in my study for my MBA. It opened new kinds of thinking for me and helped me understand the intuitions and they methods for valuing the various kinds of derivatives. While the language is not simple, it is not arcane. Some complain that the mathematics are not rigorous. So what? There are such books on the market and are suitable for those that want them. This is the standard book for thousands of MBAs who need a solid foundation, but do not need to be able to higher math to understand how a binomial tree works or to even create one my hand. Certainly, it is helpful to understand the math as deeply as you can. However, the reality is that most of the time practitioners use pre-made tools to run their Monte Carlo simulations rather than programming from scratch.

There are several new chapters on very helpful and interesting topics (using futures for hedging, numerical procedures, swaps, credit risk, real options, insurance, derivative crises, and more). Some of this is new and some adapted from previous editions. Other material has been rewritten and clarified.

DerivaGem 1.5 is included with the book, but a URL is provided to get the latest version from Prof. Hull's website.

This is a terrific book and I consider it one of the most valuable on my shelf of business texts. It is one I would never want to be without and one of the few I am willing to keep up with the new editions. While no book is perfect for every use in every situation, this is one of the great foundation texts.

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Outstanding, but lacks depth

This is a solid and intuitive book on Derivatives. If you need an intro, this is the way to go. If you need something with measures and topological spaces look into Karatzas. I believe this book has all the required material for a quant, at an early stage. However some of the Fixed Income discussions lack intuition, for example the discussions on Duration are not in depth and not as good as some of the other books with a focus on Fixed Income. The discussions on Fixed Income instruments are weak in general, for example, mortgages are barely touched on -only a couple of pages.
Discussions on Credit are also lacking depth

Generally a good source for a beginner quant, also a good quant reference. However not a good source for learning Fixed Income
e.

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Very useful manual for practitioners

This is a great manual for market practitioners. It does not use detailed math, does not go into issues of corporate finance. But it is very easy to follow and it is "complete". More than that, the book is to the point and very clear. Market professionals will find the examples spread around the book very useful for their daily work. The surprising new book by Nefci which I just got, but did not have time to study in detail, seem to provide all the missing links.

I had used an earlier edition of Hull, and it appears that John Hull adds all the relevant material needed for market finance with each new edition. In fact I have purchased several books on Mathematical Finance and Derivatives but few of them remain on my desk for future consultation.

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Simply the Best!

This is the bible of options and futures markets. It is very well written, clear, and relatively easy to understand. However, you have to read it carefully as it minces its words. Every sentence is packed with information and is important. You may find `easier' books, but they will not go the distance. So, save your money and get the best of them all. Risk Magazine lists this book as #4 among most widely cited papers/books between 1988 and 2003. No surprise there!

The book must be updated with the emergence of BICs

This book is just great. I just wish there could be a new edition that incorpoarate the BICs paradigm. More info on BICs can be found at http://www.4bics.org - BICs appears to be a too important concept to ignore,I understand its very recent but I hope prof hull will think about it

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reviews: 1, 2, 3, 4, 5, 6, 7, page 8, 9, 10, 11, 12, 13, 14, 15

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