Book description
Paul Wilmott
writes,
"Quantitative finance is the most fascinating and
rewarding real-world application of mathematics. It is fascinating
because of the speed at which the subject develops, the new products
and the new models which we have to understand. And it is rewarding
because anyone can make a fundamental breakthrough.
"Having worked in this field for many years, I have come to
appreciate the importance of getting the right balance between
mathematics and intuition. Too little maths and you won't be able to
make much progress, too much maths and you'll be held back by
technicalities. I imagine, but expect I will never know for certain,
that getting the right level of maths is like having the right
equipment to climb Mount Everest; too little and you won't make the
first base camp, too much and you'll collapse in a heap before the top.
"Whenever I write about or teach this subject I also aim to get
the right mix of theory and practice. Finance is not a hard science
like physics, so you have to accept the limitations of the models. But
nor is it a very soft science, so without those models you would be at
a disadvantage compared with those better equipped. I believe this
adds to the fascination of the subject.
"This FAQs book looks at some of the most important aspects of
financial engineering, and considers them from both theoretical and
practical points of view. I hope that you will see that finance is
just as much fun in practice as in theory, and if you are reading this
book to help you with your job interviews, good luck! Let me know how
you get on!"
Paul Wilmott is a researcher, consultant and
lecturer in quantitative finance in London, UK. He is founder
of Wilmott Associates, a financial consultancy and training firm, from
which he publishes Wilmott magazine. The Financial Times called
him a “cult derivatives lecturer.” He is one of the world's leading
experts on quantitative finance and derivatives and is renowned for
his criticism of popular models and concepts and for his unique,
informal writing style.
