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by Robert W. Kolb
Product Group: Book
Publisher: Blackwell Publishers (1997-07-31)
ISBN: 1577180852
EAN: 9781577180852
Paperback: 72 pages
Edition: 2
SKU: 081408030
Condition: Used: Very Good
Comments: ...No noticeable Underlining or Highlighting...
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Editorial Reviews
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Product Description
An instructor's manual to a full treatment of the three main types of financial derivatives - futures, options and swaps - which are linked by a common pricing framework, the proposition that rational prices preclude arbitrage profits. (FREE to adopters of the main text only.)
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Customer Reviews
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Good Coverage of Several Types of Financial Derivatives
Rating  (4)
Date: 2007-12-12
"Futures, Options and Swaps" offers good coverage of several major types of financial derivatives (futures, options and swaps). This book was a core reading for one of the CFA (Chartered Financial Analyst) examinations when I took such examinations a number of years ago...a strong suggestion that this is an authoritative publication in the financial sector.
Robert Kolb does a good job covering the subject matter from the perspective of how to accomplish something with a future, option or swap. Moreover, Kolb makes a point of consistently offering commentary as to why one might use a certain financial instrument for a given task/problem.
For those readers with an interest in learning more about futures, options and swaps, this is a good source of information.
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Much better than many realize
Rating (4)
Date: 2005-09-19
12 out of 13 customers found this reveiw helpful
Let's face it: the big Kahuna in this space is Hull's 6th Edition of "Options, Futures, and Other Derivatives" (I actually prefer the 5th Edition), which is frequently referred to as "The Bible" by financial quants. Paul Wilmott's two volume "Quantitative Finance" also has a solid following, in addition to growing appreciation for Mark Joshi's "The Concepts and Practice of Mathematical Finance." Robert Kolb's "Futures, Options, and Swaps" therefore is often confined to an "also-ran" and treated as unserious because of its inclusion in the CFA curriculum. This is unfair, and for most undergraduate and MBA students who are not destined for derivatives dealing desks, and even many who are, Kolb is the better volume.
Critics of Hull frequently cite that he is dry and technical to the point of somnolence. For Wilmott the opposite is the case. Critics hold his tone is flippant and that he glosses over major dimensions. My own view is these harsh reactions to these fine authors are exaggerations, but do have some evidence to support their expression. This, as a professor, leads me to the conclusion that for many students the author's tone is a major factor in their successful engagement with a fundamental teaching text.
This leads me to Kolb's excellent works. Many undergraduate and some MBA students of derivatives use "Hull lite" ("Fundamentals of Futures and Options Markets"), but I encourage the wider adoption and use of Kolb's "Futures, Options, and Swaps." Kolb is superior to Hull for tone, accessibility, lucidity, and utility. Where Hull reaches for a completist coverage of obscure pricing models, Kolb's coverage is instead complete in a practical sense, while not abandoning treatment of less well-known options and their pricing models. Kolb's clarity is commendable, and never dry. Kolb does not gloss over or ignore difficult topics, and his style is never pedantic or superficial.
This text does, however, contain any number of horrible errors and editing snafus that frustrate the reader. The errata sheet from the publisher does little to ameliorate the pain from these howlers. One wonders how a book can contain so many errors in such a competitive field. But it is fairly easily explained: because of Kolb's adoption by the CFA curriculum, there is a floor of near guaranteed sales that creates a non-competitive economic rent.
I particularly recommend Kolb over Hull and Wilmott for those students whose background is not mathematics, engineering, or hard sciences. While the book is technical, it is not written in near-code geek speak. For my MBA students who are "poets" rather than "rocket scientists" Kolb wins as hands down favorite. Hull remains excellent for experts, PhD students, technicians, and pricing specialists, however, Kolb certainly deserves wider respect and use by the majority of students of derivatives. In short, while flawed, Kolb is an excellent and accessible work. I recommend the wide adoption of Kolb's "Futures, Options, and Swaps," and in fact, all his other works, for most students of finance.
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This book delivers on its title
Rating (4)
Date: 2003-05-29
2 out of 4 customers found this reveiw helpful
After studying this book, you will know the technical intricacies of futures, options, and swaps. It has also excellent definitions of all the "Greek" risk measures (Delta, Vega, Gamma, etc...). The book is well organized. The chapter sequence makes good sense. This is a good book overall.
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I bought it becasue I had to....
Rating  (1)
Date: 2001-06-21
19 out of 21 customers found this reveiw helpful
Many of us ended up with this book on the shelf because it was recommended by the AIMR for the CFA course. This book was so badly edited that it was distracting - figures in tables not matching figures in the text, some calculations just plain wrong, and everything covered at a very superficial level. This had the potential to bridge the gap between a Hull-type presentation and an undergrad-type. Sadly, this book really disappoints.
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Comprehensive book on Derivatives
Rating  (5)
Date: 2000-04-13
13 out of 14 customers found this reveiw helpful
Got many books on derivatives, but Kolb's is my favourite one. He covers the topic in a slightly less quantitative way than Hull does and goes straight to all the different derivatives while avoiding any further explanations like Ito's Lemma etc. I especially liked the part on swaps with many examples like flavoured swaps or equity swaps. Nevertheless, if you're looking for a good software, than I would recommend The Complete Guide to Option Pricing Formulas (build on Excel VBA).
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by Bill Clarke
Product Group: Book
Publisher: Tab Books (1992-06)
ISBN: 0830625704
EAN: 9780830625703
Dewy Decimal #: 629.133340297
Paperback: 342 pages
Edition: 3rd
SKU: 082108018
Condition: Used: Good
Comments: ...No noticeable Underlining or Highlighting...minor wear on cover
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Editorial Reviews
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Product Description
"... one of the best volumes available... "-Aviation Newsletter. There are a lot of makes and models available on the used aircraft market, and deciding which one to buy can be challenging. The Illustrated Buyer's Guide to Used Airplanes, Fourth Edition offers a fully-tested step-by-step financial formula to calculate and negotiate the best possible purchase of any aircraft. Also included: updated pricing and availability information; advice on securing the proper insurance coverage; tips on maintaining and storing planes; guidance on where to go for airplane repair and parts; FAA Airworthiness Directives governing specific aircraft; profiles of more than 100 plane types. Featuring scores of photos, this smart, time-saving tool enables readers to acquire today's hottest used airplanes-without getting financially burned.
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Customer Reviews
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A good book for comparing aircraft models
Rating (4)
Date: 2006-01-21
3 out of 3 customers found this reveiw helpful
If your looking for one book to read before buying an airplane, then dont buy an airplane. You have to read EVERY book you can get your hands on plus lots of Trade a Planes, and spend a year or more looking before you buy a plane. When it comes to aircraft, you must know all you can about your purchase or it can break you. I know this because I am an Aircraft Mechanic.
This book does give you a basic knowledge of whats involved in buying a plane and basic data about each model shown. Unfortunatly books are never accruate price guides because values change quickly. They do give a prospective buyer lots to think about.
It is a great read for aviation buffs who want to compare different models of light singles and twins. I spent hours thumbing thru it. Would have liked color pictures but there is at least one picture and specifications for pretty much every production light aircraft.
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A reasonable guide to an unreasonable decision
Rating  (3)
Date: 2004-05-08
7 out of 15 customers found this reveiw helpful
Owning a personal aircraft,except for a very few people in unusual circumstances, simply does not make economic sense. It's a toy and, invariably, an expensive one. However, for those who want to fly, it's the best toy in the world, a source of immense satisfaction.
Sadly, many people try to make what is invariably a purely emotional expenditure into a "sensible" one, and wind up spending almost as much money for a boring and unrewarding aircraft as they would have to go all the way and buy an airplane that will do what they really would like. The General Aviation industry, obsessed with promoting its wares as rational business decisions, foundered at the very time the speedboat, exotic car, and expensive motorcycle (read: Harley-Davidson) businesses blossomed. The reason is that these business openly vended their wares for what they were: expensive toys. No one tried, as Cessna and Piper have for forty years, to get even the most gullible affluent buyer of Cigarette boats and Ferraris that they were buying anything but fun and snob appeal. Personally, I find the wares of Wichita pretty deficient in the fun factor as compared to homebuilts and warbirds, and I'm not one of the few people with a legitimate business case-and there still are a (very) few-for owning a 310 or a Bonanza. But if you want to buy a certificated light aircraft, this book does offer a good insight into their respective strong and weak points and explains how the procedure of buying one is best managed. My main disagreement is with how the word "investment" is used with regard to aircraft not in revenue service. (If it isn't, it isn't an investment-and leaseback doesn't count.) If you want an investment, buy stocks, bonds or real estate-but, unless you're Southwest Airlines, never, ever an airplane.
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Lacked detailed info
Rating  (2)
Date: 2002-03-26
16 out of 16 customers found this reveiw helpful
I ordered this book hoping to get detailed info on a number of airplanes. It listed specifications, exterior dimensions, weights and fuel capacities for many aircraft but lacked any real details on individual aircraft models. The Aviation Consumer Guides are better and have more detailed analysis of accidents and aircraft systems. I returned it.
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Best in Class
Rating (4)
Date: 2000-10-27
6 out of 8 customers found this reveiw helpful
This book would benefit from more photos and specifics on various models but is the best book of its kind. The information found in "the illustrated buyers guide" is a bargain even if you are not serious about buying.
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Just the plane facts!
Rating (4)
Date: 2000-10-09
7 out of 7 customers found this reveiw helpful
I am new to general aviation and was looking for information about the different types of general aviation planes: what they look like, how they perform, and a ballpark estimate on how much they cost. (I'm not seriously planning to buy one (not yet anyway), but price is a useful piece of information). This book delivers all that.The book could be improved by providing a few more photographs and by including a few more pieces of data for each plane (e.g., cruising range, ceiling, fuel consumption, Vmc, etc.). Another improvement would be to increase the information in the narratives for each type of plane, better describing flying quirks and typical problems for the purchasers (e.g., expensive ADs, commonly found damage, etc.); detailed narratives like those contained in the dated "Buying and owning your own airplane" by J. E. Ellis would be a benefit. With these few improvements, the book would be perfect.
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