Wilmott explains intuitively then covers the maths after

Wilmott has a knack of explaining a concept intuitively so you"get it", then showing the maths behind it. Far too many other authors take you through pages of derivations, leaving you with a equation which leaves you none the wiser.<br /><br />If you want to impress your boss or friends by leaving a complex, dense looking tome of seemingly indecipherable maths on your desk, go elsewhere. <br />But if you want a light-hearted, consise but thorough introduction to quant finance, I'd highly recommend his book.<br /><br />Note the similarity between the 1 volume ('introduces') and the 3-volume ('on') Wilmott textbooks. You don't need both - the 3-volume is simply the 1-volume with some extra depth in places.<br />

My review

I have read this book from cover to cover at least once and some topic of my interest at least twice or more. <br /><br />I am no new comer when come to investment, but I do get some refreshment on certain bits which I have too long forgotten in my consideration whenever I buy my shares. <br /><br />The author placed a lot of emphasis on buying shares and dedicated almost half of the book on shares. He is in agreement with Warren Buffett style of investing - buy and hold. He placed similar emphasis on bonds (maybe a little lesser than shares). He placed lesser emphasis on real estate investment and alternative investment. <br /><br />I think these forms of investment are just as important as knowing how to invest in stock. I sincerely do think the author should really have placed a bit more of his attention on these areas. I think the details on some of the more sophisticated form of investment (CFD/Spreadbet/Share Options) are covered too briefly in this book. Warnings and danger of these geared products are not discussed in great details. <br /><br />Oh yes, the author has very deep hatred for OEIC/Mutual fund. He would not recommend anyone buying OEIC/Mutual fund. And I see where he is coming from, but perhaps he has been a bit too extreme to certain extent. OEIC/Mutual fund is still a great one-stop solution for investors who do not have the time to study the various different form of investment and still provide a quick diversification. <br /><br />I like the first half of his book, but somewhat feel he had been under pressure to finish the second half of his book. A lot of the important details on the topics covered in the second half of his book has been absent (For example: He discussed about real estate in just few pages whereas he discuss shares in great details. He has not discussed about investing in education or owning a business (to me that is also a form of investment). <br /><br />And I dislike the way he drew his conclusion. The conclusion is in direct contrast with the first half of the book. In the first half of his book, he is almost certain that shares almost always beat any forms of investment in the very long term, with charts and statistic to back him up. In the last chapter of his book, he is not so sure of that, in fact, he is not even sure any form of investing is good (I felt it is as though the conclusion is written by another person altogether). <br /><br />I give it a 5 star for the first half of his book, but 3 star for the second half. If you are interested in shares and bonds, this is the book you should read (discard the second half). If you are interested in other form of investment other than shares and bonds, I suggest you look for other books.

Comprehensive but somewhat technical (not very suitable for most beginners)

I want to agree with the previous, rather brief reviewer who found this book to be somewhat complicated. <br /><br />While it certainly IS very comprehensive (as in it covers all you want to know, plus more), the manner in which the material is presented at times comes accross overly technical and complicated - especially for the novice. Furthermore, the layout, while visually appealing, doesn't seem thought through properly. Much too often, the text discusses key concepts by refering to example-boxes which, for some reason, are inconveniently printed pages away from the complementing text. This often disrupts the learning flow and thus may hinder (easy) comprehension of even the most basic concepts such as standard overhead absorption costing, budgeting, marignal costing, etc.<br />However, not all is amiss! One aspect of the book which deserves utmost praise is the extensive supply of exercise questions (and suggested solutions) to each chapter. These are extremely helpful in gaining a"feel" for the usefulness and necessity of management accounting in business. That alone may justify the purchase of the book. (hence three stars in the rating)<br /><br />All in all I would say that this book isn't best-suited for the novice as stand-alone learning source, but may be a very useful supplement for those who want to apply what they have learned (possibly elsewhere) and those who want to gain a deeper, more technical understanding of already understood management accounting concepts.

AAT - Costing & Reports

If like me you can’t get your head around report writing, BUY THIS BOOK, even if not taking the AAT qulification, it still enables you to write reports in different formats. Excellent!!

A masterpiece

This book is a masterpiece. However, to get the most out of it one really needs to study it carefully. Unfortunately doing so is something of an exercise in textural exegesis. The book is written in the vernacular of 80 years ago and uses expressions which would have been common in New York in 1910 but are obscure now. Similarly it refers to practices and methods of trading which no longer exist. How many people these day could tell you what a bucket shop was (or what bucketing was)? Also remember that the book is based on a series of interview with Jesse Livermore by Edwin Lefevre and although Lefevre was a consumate financial journalist he wasn't a trader himself. I'm not certain if Lefevre always understood precisely the point Livermore was making.

When the book was written it would have been easily accessible for the average reader of the day (provided they had some investment experience). Nowadays you need to have a solid grounding in financial instruments and trading to be able to fully follow what's going on.

One slightly odd thing about the book is that the last 80 or so pages seem to be a random collection of anecdotes that wouldn't fit anywhere else.

ACCA F6 TAX STUDY TEXT

Great book , heavy reading but takes you through the whole syllabus, lots of practice questions and pilot papers at the back of the book to practice with.

Worth it's Weight in Gold

Excellent. Mr Greenblatt certainly know's how to invest with exceptional returns over the long term. This book is a simplified version of what Mr. Grenblatt practices and I look forward with new found confidence and a new investment strategy to reaping above average returns!!

Poor Attempt

Would not recommend this book to non-specialists looking for an overview of Accounting & Finance. It is a tedious read and the examples are unclear, split across pages and jump from one stage to the next without proper explanation. Not a very helpful book at all.

The New Market Wizards

I have probably read almost every trading book out there over the years. As a prop trader and hedge fund manager, I found this book extremely well written and insightful for anyone interested in the industry. The managers in the book are the new breed of some of the best in the business out there. Its a great compilation of macro traders each with their own principal specialty. Its a great book for anyone interested in the business.

Answers the most important question

As a market trader and investor, I have always found the issue of knowing when to sell both puzzling and frustrating. <br /><br />Most beginner traders imagine that the buying is the most difficult part of investing. Wrong. The buying is the easy part. Try holding on to a stock when the price of the share has more than doubled and all your thoughts are saying"sell sell sell"! On the one hand you want to hold on so you don't miss the opportunity for higher profits but on the other hand you are scared of leaving money on the table. <br /><br />Elder intelligently dissects the psychology behind all this, showing us that it is ok to leave money on the table - every trader does it. We cannot predict what will happen so we should always know before hand as to when we should sell the share.<br /><br />

Enlightenment on the issues surrounding the capital markets

Whilst I slightly disagree with the back cover comment that the book is written in a"jargon-free" style (a basic knowledge of Economic theory would be useful), I thought the book was highly useful in unravelling the mysteries surrounding the 'Northern Rock Crisis'. I studied Economics as part of an MBA course and this book improved my understanding of the dismal science. The book is article based which I wasn't aware of when I bought it, so if you're looking for a beginners guide, I recommend you look elsewhere. Try Sloman's Essential Economics or 'Free Lunch' by David Smith.

Simply the best!

Too often we see authors unnecessarily overcomplicate mathematics. Gatheral on the other hand does the reverse. By taking a difficult subject and presenting in a wonderfully concise and pedagogic style he shares with the reader his deep knowledge of volatility. Such an important financial quantity which still appears to be shrouded in fear, Jim Gatheral uses his enviable blend of master practitioner and brilliant academic to combine both the real-world finance principles together with the underlying mathematics to demystify volatility. <br /><br />The working is beautifully laid out, in a manner that is patient, friendly and approachable - and shows that quant finance need not look greek! This is the measure of a true genius!<br /><br />As a teacher of mathematical finance, I have no hesitation in strongly recommending this book to students, researchers and practitioners in the field of derivatives.<br />

Informative

Good detailed book for those new to book keeping or for those working as a book keeper with a lot of unanswered questions. Goes through everything you need to know when running a small business. The questions are easy to go through and there are a lot to give you practice on how to get it right. The book mostly teaches manual skills although computerised layouts and systems are explained. An easy to read workbook and a handy reference book too!