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Introduction To Quantitative Finance, An: A Three-principle Approach (Hardcover)
Loot Price: R1,615
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Introduction To Quantitative Finance, An: A Three-principle Approach (Hardcover)
Expected to ship within 12 - 17 working days
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This concise textbook provides a unique framework to introduce
Quantitative Finance to advanced undergraduate and beginning
postgraduate students. Inspired by Newton's three laws of motion,
three principles of Quantitative Finance are proposed to help
practitioners also to understand the pricing of plain vanilla
derivatives and fixed income securities.The book provides a
refreshing perspective on Box's thesis that 'all models are wrong,
but some are useful.' Being practice- and market-oriented, the
author focuses on financial derivatives that matter most to
practitioners.The three principles of Quantitative Finance serve as
buoys for navigating the treacherous waters of hypotheses, models,
and gaps between theory and practice. The author shows that a
risk-based parsimonious model for modeling the shape of the yield
curve, the arbitrage-free properties of options, the Black-Scholes
and binomial pricing models, even the capital asset pricing model
and the Modigliani-Miller propositions can be obtained
systematically by applying the normative principles of Quantitative
Finance.
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