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Paul Wilmott book

Posted: April 4th, 2008, 4:40 pm
by TraderJoe
QuoteOriginally posted by: jawabeani've heard two opposite opinions from 2 friends of mine. one said that it's the best book on QF, the other guy said it's crap.I'd say the other guy was not a very good quant.

Paul Wilmott book

Posted: April 4th, 2008, 5:56 pm
by quantmeh
QuoteOriginally posted by: TraderJoeQuoteOriginally posted by: jawabeani've heard two opposite opinions from 2 friends of mine. one said that it's the best book on QF, the other guy said it's crap.I'd say the other guy was not a very good quant.i bet he'll read this quip

Paul Wilmott book

Posted: April 5th, 2008, 9:37 am
by biofa
ahah she's ex, but this isn't due to Paul's 3 volume set!!! but it could be a dangerous weapon ahah!!q]Originally posted by: DCFCYour ex girlfriend ?Is getting a copy of Paul's Big book of banking grounds for breakup ?

Paul Wilmott book

Posted: April 5th, 2008, 1:00 pm
by ppauper
QuoteOriginally posted by: TraderJoeQuoteOriginally posted by: jawabeani've heard two opposite opinions from 2 friends of mine. one said that it's the best book on QF, the other guy said it's crap.I'd say the other guy was not a very good quant.Some folks for no rational reason have a favorite standard quant text, be it wilmott or hull or kwok or...., and when they hear that someone else has a different favorite, rather than say "that's good too", they somehow suppose that knocking the other book makes there's look better.

Paul Wilmott book

Posted: April 5th, 2008, 4:10 pm
by TraderJoe
QuoteOriginally posted by: ppauperQuoteOriginally posted by: TraderJoeQuoteOriginally posted by: jawabeani've heard two opposite opinions from 2 friends of mine. one said that it's the best book on QF, the other guy said it's crap.I'd say the other guy was not a very good quant.Some folks for no rational reason have a favorite standard quant text, be it wilmott or hull or kwok or...., and when they hear that someone else has a different favorite, rather than say "that's good too", they somehow suppose that knocking the other book makes there's look better.Thanks for the clarification. So its a pride thing rather than an ability thing?

Paul Wilmott book

Posted: April 5th, 2008, 10:24 pm
by Maelo
QuoteOriginally posted by: mjQuoteOriginally posted by: PaulMaelo,You'll have to speak to publisher about commission, they make all the money, not the author. (Although I suspect they spend a lot of it on drink!)Pthe key thing is to get the editor to buy lunch...Boy!!! That's really hard!!

Paul Wilmott book

Posted: April 6th, 2008, 4:50 pm
by ppauper
QuoteOriginally posted by: TraderJoeThanks for the clarification. So its a pride thing rather than an ability thing?it could be either or both

Paul Wilmott book

Posted: April 6th, 2008, 8:45 pm
by mj
QuoteOriginally posted by: MaeloQuoteOriginally posted by: mjQuoteOriginally posted by: PaulMaelo,You'll have to speak to publisher about commission, they make all the money, not the author. (Although I suspect they spend a lot of it on drink!)Pthe key thing is to get the editor to buy lunch...Boy!!! That's really hard!!actually, it's quite easy -- they have generous expense accounts

Paul Wilmott book

Posted: September 19th, 2008, 9:52 pm
by TraderJoe
No doubt Paul will have some serious updating and expanding to do now after the subprime malarchy in the chapter entitled "Derivatives F**k Ups".

Paul Wilmott book

Posted: September 19th, 2008, 11:47 pm
by Paul
Maybe more examples, but there's nothing new happening.In the chapter where I say how bad CDO models are ("I have to say that some of these instruments and models being used for these instruments fill me with some nervousness and concerns for the future of the global financial markets") I might add an "I told you so."P

Paul Wilmott book

Posted: September 20th, 2008, 12:11 am
by TraderJoe
Two things are different about this hundred year storm:1. The scale - multiply the worst derivatives f**k up in your chapter by 100 and you have the subprime fallout.2. The type - this is systemic, not confined to just one bank or hedge fund.This is a disaster of truly biblical proportion.The folly of man...

Paul Wilmott book

Posted: September 20th, 2008, 2:35 am
by barny
Personally, I've found the book very bad so far. It jumps from equation to equation and from statement to statement and expects you to fill in the blanks - a lot of the points are very ambigious and I'm simply puzzled as to how they've been arrived at - for a newbie to quant finance this is impossible! I bought the book because I'm brand new to derivatives and from the reviews it seems as if it was a good study guide for beginners. I've found the complete opposite, I also really hate the way the book is printed(font, layout). I'm finding Hull much more satisfying(nice equations, nice step-by-step explanations of what's going on behind the equations) and then I sometimes read the Wilmott book for a more intuitive overview. In general as a first book for quant finance I don't recommend the Single Volume version of Paul Wilmott on Quantitative Finance..

Paul Wilmott book

Posted: September 20th, 2008, 8:07 am
by Paul
TJ, that's really just people being even more sheep-like than usual!barny, they do warn in the book's publicity that you'll either love it or hate it! The definition of 'beginners' includes knowledge of calculus, depending on the level of your maths you might think things are skipped when others wouldn't. If I give an 'advanced' course these days I find that a lot of people attend have what I would call very mediocre skills. This wasn't the case a decade ago. This is unfortunate for everyone concerned. But then that's not just quant finance that's education in the west. If you are struggling, barny, then read some of the Schaum books. If you PM me I can give you a list. I can help you get through my terrible book! (BTW you'll probably hate the three-volume PWOQF2 even more!)P

Paul Wilmott book

Posted: September 20th, 2008, 8:39 am
by TraderJoe
QuoteOriginally posted by: barnyPersonally, I've found the book very bad so far. It jumps from equation to equation and from statement to statement and expects you to fill in the blanks - a lot of the points are very ambigious and I'm simply puzzled as to how they've been arrived at - for a newbie to quant finance this is impossible! I bought the book because I'm brand new to derivatives and from the reviews it seems as if it was a good study guide for beginners. I've found the complete opposite, I also really hate the way the book is printed(font, layout). I'm finding Hull much more satisfying(nice equations, nice step-by-step explanations of what's going on behind the equations) and then I sometimes read the Wilmott book for a more intuitive overview. In general as a first book for quant finance I don't recommend the Single Volume version of Paul Wilmott on Quantitative Finance..Keep going young man, and some day you will find books like "Wilmott" easy. Then you will start to read books by Revuz & Yor .

Paul Wilmott book

Posted: September 20th, 2008, 3:17 pm
by Paul
QuoteOriginally posted by: TraderJoeThen you will start to read books by Revuz & YorA good mathematics book. But I don't think they claim it has much to do with finance. At least I hope they don't!P