Paul Wilmott Introduces Quantitative Finance

by Paul Wilmott

Paul Wilmott Introduces Quantitative Finance, Second Edition is an accessible introduction to the classical side of quantitative finance specifically for university students. Adapted from the comprehensive, even epic, works Derivatives and Paul Wilmott on Quantitative Finance, Second Edition, it includes carefully selected chapters to give the student a thorough understanding of futures, options and numerical methods. Software is included to help visualize the most important ideas and to show how techniques are implemented in practice. There are comprehensive end-of-chapter exercises to test students on their understanding.

Genres: Finance, Textbooks, Mathematics, Nonfiction, Economics

736 pages, Paperback

First published June 1, 2001

About the author

Paul Wilmott is a researcher, consultant and lecturer in quantitative finance. He is best known as the author of various academic and practitioner texts on risk and derivatives, and for Wilmott magazine and Wilmott.com , a quantitative finance portal.
He is the co-owner and Course Director for the Certificate in Quantitative Finance (CQF), a half year distance learning course on mathematical finance at 7City Learning, a London-based company providing training for the financial services industry. He is a founding partner of Caissa Capital, a volatility arbitrage hedge fund. He is on the editorial board of the academic journal International Journal of Theoretical and Applied Finance. He founded the Diploma in Mathematical Finance at Oxford University and the journal Applied Mathematical Finance. He is a director of Wilmott Electronic Media, which manages Wilmott.com, a website for the quantitative analyst community, and is a director of Paul & Dominic Quant Recruitment.
He studied mathematics at St Catherine’s College, Oxford University, where he received his D.Phil in Applied mathematics in 1985.

Reviews

[Dmitri · Rating 4 out of 5]

A good starter book, but not perfect. Unlike books which try not to show any math and books which show advanced math, this book often starts with simple things but then jumps into stochastic calculus or probability that most of its target audience simply won’t get. For example, you start reading on the binomial model then suddenly you’re into delta-hedging and next thing you know you’re using lognormal assumptions without anyone having explained to you why and what for.

I like this book and I think it’s great, but lots of people are going to be annoyed with it because to ‘grok’ it, you basically need to read a dozen other books. However, it’s excellent for understanding options, for example – far better than Natenberg’s or McMillan’s books. Go go ahead and get it, or get PWOQF, which is yet more complete.

[David · Rating 2 out of 5]

The book is OK, but not adequate as a standalone introduction to quantitative finance. In particular, while the author gives numerous formulas, little attempt is made to derive them or give the reader an understanding of their source. The exposition is sometimes humerous in a usually non-irritating way (for example, the chapter on "Derivative Fuckups").

[Daniel · Rating 4 out of 5]

A good, fun, no-nonsense read; maths appears a bit sloppy at times though.

[Franco Arda · Rating 5 out of 5]

the most "entertaining" book on quantitative finance.

[Paul Erickson · Rating 5 out of 5]

Wilmott’s ability and willingness to cater to beginners is noteworthy. This is a great reference material.

[Luaba · Rating 5 out of 5]

Paul Wilmott makes quantitave finance fun