Options, Futures, and Other Derivatives with Derivagem CD (7th Edition) (Prentice Hall Series in Finance) | 
 enlarge | Author: John C Hull
Publisher: Prentice Hall
Category: Book
List Price: $200.00
Buy New: $92.99
You Save: $107.01 (54%)
New (41) Used (15) from $90.00
Rating:  72 reviews
Sales Rank: 22231
Media: Hardcover
Edition: 7
Pages: 848
Number Of Items: 1
Shipping Weight (lbs): 3.6
Dimensions (in): 10.1 x 8 x 1.6
ISBN: 0136015867
Dewey Decimal Number: 332.645
EAN: 9780136015864
ASIN: 0136015867
Publication Date: May 18, 2008
Availability: Usually ships in 1-2 business days
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| Also Available In:
| • | Hardcover - Options, Futures, and Other Derivatives (4th Edition) | | • | Hardcover - Options, Futures, and Other Derivatives | | • | CD-ROM - HULL:Derivagem CD SSP_7 | | • | Hardcover - Options, Futures, and Other Derivative Securities | | • | Hardcover - Options, Futures, and Other Derivatives (5th Edition) | | • | Paperback - Options Futures and Other Derivatives with Derivagem Cd | | • | Hardcover - Options, Futures and Other Derivatives (6th Edition) | | • | Hardcover - Options, Futures, and Other Derivatives with Derivagem CD (7th Edition) | | • | Paperback - Student Solutions Manual for Options, Futures, and Other Derivatives for Options, Futures, and Other Derivatives with Derivagem CD | | • | Paperback - Options, Futures and Other Derivative Securities | | • | Hardcover - Options, Futures, and Other Derivative Securities | | • | Hardcover - Options, Futures, and Other Derivatives | | • | Paperback - Options, Futures and Other Derivatives: WITH Modern Investment Theory (International Edition) AND Performing Financial Studies - A Methodological Cookbook AND The Psychology of Investing | | • | Paperback - Options, Futures and Other Derivatives: AND Solutions Manual | | • | Hardcover - Options, Futures and Other Derivatives: AND Stock-Trak Access Card | | • | Paperback - Options, Futures and Other Derivatives: AND Student Solutions Manual | | • | Paperback - Options, Futures and Other Derivatives: AND Psychology of Investing | | • | Paperback - Options, Futures, and Other Derivatives: AND Student Solution Manual |
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Product Description
Updated and revised to reflect the most current information, this introduction to futures and options markets is ideal for those with a limited background in mathematics. Based on Hull's Options, Futures and Other Derivatives, one of the best-selling books on Wall Street, this book presents an accessible overview of the topic without the use of calculus. Packed with numerical samples and accounts of real-life situations, the Fifth Edition effectively guides readers through the material while providing them with a host of tangible examples. For professionals with a career in futures and options markets, financial engineering and/or risk management.
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| Customer Reviews: Read 67 more reviews...
 Best book on the subject November 26, 2008
Andres Jaramillo (California)
This is by far the best book on the subject., September 20, 1996
By A Customer (A. Jaramillo)
I have read most of the books on derivatives and mathematical finance. I have also read the most important papers on the subject, and no book covers the subject so extensively and so carefully. The difficult math is explained by Hull in a brilliantly intuitive way, without sacrificing the mathematical rigor. He explains succinctly and accurately the heart of the most advanced papers in the subject, in unpretentious terms, and always with the reader in mind (unlike most of the other academics' attempt at writing a book.) Having studied the subject in depth, from a practical and a theoretical point of view, I can say, without reservation, that (up to 1996) this book is all you need to learn about the subject. In fact, I dare say that if you read the book cover to cover you will be an expert in the subject. I read the second version, and some of the most recent topics (like Value at Risk) are not treated in it, but it is my understanding that the third edition includes all of these newer developments. If they are explained as all the other subjects in the 2nd edition, then they should be the best explanations around. Excellent book for novices in the subject, excellent reference book for experts, great mathematical education for finance people, and great financial exposition for mathematicians. (From a mathematical point of view, the only details missing are the mathematical foundations of risk-neutral valuation, i.e. Girsanov's theorem) This book should be read (and more importantly CAN be read) by any financial officer, county treasurer (is Orange County listening?), trader, regulator investor and banker. I also recomend this book to unemployed mathematicians, physicists, and engineers. The starting salary for these quantitative disciplines goes up by $30,000 a year after reading that book.
The gold standard (although you may not need to upgrade to the seventh edition) November 6, 2008
David R. Harper (Los Angeles, CA USA)
1 out of 1 found this review helpful
This is the definitive introduction to derivatives. As evidence of its relevance, the following chapters are assigned to Financial Risk Manager (FRM) candidates: Hedging Strategies using Futures (Chapter 3), Determination of Forward and Futures Prices (5), Interest Rate Futures (6), Swaps (7), Properties of Stock Options (9), Trading Strategies Involving Options (10), Binomial Trees (11), Black-Scholes-Merton Model (13), Greeks (15), Volatility Smiles (16), Exotic Options (22).
Given that this is an expensive text, the most frequent question I get is, do I need to buy the latest edition? Perhaps you do not: the updates from fifth to sixth edition, and from sixth to seventh edition, have both been modest "version" upgrades. Here is a rule-of-thumb: the more introductory the topic (i.e., the earlier the chapter), the less likely you want/need the upgrade. The early chapters on futures, hedging, interest rate futures, swaps, and option pricing have barely changed since the fifth edition. Further, from what i can tell, the end-of-chapter questions are largely the same/similar.
In regard to the seventh, in addition to a number of refinements (e.g., some reorganization), the two noticeable differences are: a new chapter on valuation of employee stock option (a particular expertise of Hull's) and more material on certain credit derivatives (CDOs, credit default swap) including a bit more help on Gaussian copula. However, in regard to credit derivatives, in total, Hull gives a quick tour which may be challenging to the new learner. It is maybe not the best place to start for credit derivatives per se.
But, this is the gold standard, a work of art, as far as finance texts go. It may be an introduction but it offers encyclopedic breadth. I've read it several times over, worked most of the problems, taught from it, argued with it, and yet I keep needing to refer to it--Hull is the trusted adviser you call in a crunch, because you know he knows--full mastery is probably still years away.
Awesome! October 1, 2008
Indira Sambo
0 out of 1 found this review helpful
That's a fantastic book. For people who wants to learn about derivatives and finantial markets it helps a lot. Because the book has a lot of maths I do not recommend it for people who does not have a good math support. Still, I think it is a good buy. If you have any doubt concerning this topic it can always give you an aid.
classical book September 15, 2008
F. N. Tavares (Rio de Janeiro, Brazil)
I was planning to buy this book for a few years.
This is a classical book on Derivatives. A must have for anyone that is interested in learning how derivatives work and how to price them.
It provides good reasoning and intuitive ideas on risk-neutral pricing. I tried learning that from other books before but the main ideas are so well explained here that now I can understand what those other books say (concepts like market price of risk and the equivalent martingale result for change of numeraire). Interest rate derivatives are well introduced here and the new chapter on more numerical procedures extends the results from previous chapters to dynamics with stochastic volatility and so on.
So, this is a must have and basic reading book for any quant analyst.
Easy for complex September 14, 2008
Oscar Manuel Mendoza (Peru, Sudamerica)
Even the subject cover by the book. The author masters in explaning it a lot of examples, comprehensive language and a lot of exercises.
I enjoyed the book and started to use it as a course book.
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