5 comments about Trading Risk: Enhanced Profitability through Risk Control.

1. The current market condition, where virtually no asset class has been spared the bloodbath, is a sober realization for many of us in the investing public on the importance of proper risk management and discipline in investing. In that light this book is a perfect reminder for all of us why risk management is integral part of wealth growth. Normally the media talks about opportunities in the market place and seldom the risks involved. While amateurs look at the opportunities in the market place, the professionals look at the risks ( to rewards) and take appropriate action to mitigate or eliminate the risks. The book does a very good job of explaining why the 1987 equity market crash happened, it then gives us some insights into portfolio insurance business which was initially considered a great innovation but turned out to be one of the key factors behind the crash and the subsequent massive wealth destruction!
   Seems like we never learn, something similar is playing out in the current credit crises of the financial markets. Initially Mortgage Backed Securities and CDOs( Collateralized Debt Obligations) were hailed as the biggest financial innovation of modern times, but now the over engineered financial products are being blamed for trillions of dollars of investors wealth being lost ( Warren Buffet Keeps calling it the Pearl Harbor of financial markets). This goes on to prove that finance is an ever changing field and what worked in the past may not work in the future or may actually have the opposite effect. What can an investor do in such an ever changing landscape? The answer is risk management and this book has some practical suggestions around it. The book talks about discipline as in ..only this time I am bending the rule and over leveraging my investments or adding to a losing position..never again, the author reminds us to never make an exception when it comes to risk management. Actually he tell us that spending money on risk should not be considered an expense, it should be actually considered an investment. An investment which protects us from losses and lets us sleep well in the night. A highly recommended read for all who are interested in making money in the market, the safe way!



2. I think this book covers the topic of risk adequately. I got it last year and finally got around to reading it this week. If I had to buy it today I would probably pass, at $55 its twice what I paid for it in November. Someone must really like it?
   
   I read this book to further refine my risk strategies. What I found was a book that explained risk in detail, but did not seem to offer me much in the way of finetuning my system. Although it did give me more confidence in my system and confirmed to myself that I am on the right road.
   
   I liked the story of one risk manager from the book. This person had pages and pages of complex mathematical formulas to arrive at his funds risk levels. But if you turned over the page it said "equals five percent". LOL. So my 5% risk strategy has been correct all this time and I didn't have to use a Cray supercomputer to arrive at that number!
   
   If you are new to risk assesment or need to figure out complex hedging risk strategies this is a good book. If you have a pretty good understanding of risk already, you may want to pass on this book.



3. I suppose if I had read this when I started to trade 14 years ago, it would have helped me. If you've traded for more than four years, you should already know most of the things covered in this book or you are an ex-trader. The book is mostly targetted towards money managers which is somewhat different from what I do which is proprietary trading in fixed income. The book will help you understand to risk less when you are down and risk more when you are up. Nothing earth shattering. I personally liked "Fortune's Formula" a lot better although the subject matter differs. Overall a good solid book for a novice trader.



4. If you are looking for a book whith detailed risk management techniques this is not your book. This book is oriented to money managers that are currently aplying risk control and want to read some stories about that. There is no practical information that allows the reader to implement a real risk control mechanism. Just ideas like "keep your volatility below 10% of your trading capital" or "make a correlation analysis of your P/L with everything to see if you find something". Too much stuff to say "be prudent"
   
   If you want to understand the mathematics of money management, risk control and position sizing you'd better read RALPH VINCE. I suspect that those that are publicy dissapointed with optimal f do not understand the issue very well. In "the new money management" by Vince you have a clear procedure to obtain the maximum profit from your money with the risk level you are comfortable with. (dynamic fractional f).
   
   If you (like me) are looking for new ways to get the best for your money, with examples and practical demostration of the statements so you understand every single line do not buy this book. I does not provide that.



5. Perhaps some reviewers might disagree but to me this is just an intermediate to advanced level trading book that focuses primarily on risk management with decent coverage of systematic risk management strategies or tools (say, correlation analysis on P/L vs holding period, VAR, number of positions, exposure level etc etc) plus many vividly written stories of traders anonymous that help traders of all levels to sharpen their edge.
   
   To those traders who are willing to go and work the extra mile for better defense in the trading battlefield, it can really help, for sure. In other words, those who are already preparing their own daily trading journals or have somebody else to complete the job will definitely benefit from the advice of this book. However, if you wont bother to do even the minimal daily book keeping job, not to say those relatively complicated analysis made easy by software readily available in the market, please give this book a pass.

2 comments about CBOT Handbook of Futures and Options.

1. This book has helped me understand a lot of difficult concepts and jargons. Definitely recommend this book if you're new to the trading industry.



2. Very useful, full of information regarding futures trading and its history. Great for beginning traders and somewhat experienced traders as well.

1 comments about FX Options and Structured Products (The Wiley Finance Series).

1. This is probably the book to read if you are on the FX trading floor. Uwe has done an excellent job of demystifying things. It is a must read for an FX structurer.

5 comments about The Art of the Trade: What I Learned (and Lost) Trading the Chicago Futures Markets.

1. This is well written and gives you a great sense of what actually can and probably does happen behind the scenes in the world of trading.



2. This book has some really great things about it, and some really iffy things about it. If you do not know, then this is a reprint of the book "Dancing with Lions" written by the same author. I have never read that book, but I was drawn to read this book when I heard some people I know mention it, as well as after I read this guy's other book: 28 rules that work (something like that). Here is the break down:
   
   PROS:
   
   -This book has it; it has the key to trading, and it is right in front of your face. If you pick this book up and throw it down in disgust, you missed something very important. One of the leading causes of trading woes is when people do not understand the true nature of the market. After reading this book, pick up some Mark Douglas, or Rem. of a Stock Operator, or any other book you know that is packed with trading wisdom. You will start to see points from this book in those. Once you understand truly the nature of the markets, then right action becomes self evident, and to not make money in the market, you have to TRY to not make it. Once understanding comes, you will flow with the market and all the riches you imagined can be yours. But do you understand its true nature yet?
   
   -I liked the way this guy told stories, and although some of them were pretty outrageous, without speaking to their validity, they were entertaining. I also think his stories got the points across.
   
   -Some really great lines in this book that point to deep truths about both the markets, and reality. "There are only two realities, yours, and the right one." Also, when talking about the fact that when two people trade, they both believe totally opposite things, he says (I am paraphrasing): "That little thing that makes you believe your trade is right, that is why you lose." These sayings have some really deep truths to them, but you have to truly understand reality, as well as the market for these truths to set you free. This book has these truths, and discusses them in a way that can give you an understanding if you are open to it.
   
   CONS
   
   -This book, while probably better edited than the earlier version (from what I have heard), still is filled with quite a few mistakes. Mostly harmless things, like forgetting to put a space or two after sentences, or some small spelling errors. Still, it is not up to this publisher's standards and the errors in this book should be redone.
   
   -This guy is a pretty sarcastic dude at times. It is actually a bit mind-boggling because at times, he seems very wise, and at others, he is like a closed off Neanderthal. A lot of his stories seem like bragging, but then he acknowledges this and this can be confusing about his intentions.
   
   -It can seriously get annoying with how many times this author says "I wont go into that, but you know," "I wont say the name of this, but you know," or something to that effect. This happens once or twice, its not a big deal. But this guy does it quite a bit, and you start to wonder why he has to do this in the first place, what is he trying to hide? The cloak and dagger stuff he does is the exact opposite to the confident trader that he is trying to portray. Plus the book isn't that long, what is another few pages describing things you mention? This can be all very confusing, and sometimes exasperating, almost like a wise man who every once and awhile turns into a child. But I do not know this guy, nor the circumstances under which he wrote the book, so whatever floats his boat is fine.
   
   Conclusion:
   
   I would say, no matter the downfalls of this book (like mentioning 100% winning traders; seriously? I mean even if you know one, why mention it, its entirely unbelievable), it does have wisdom in it, and it has the type of wisdom in it that you CAN come back to. At its price, it is a no-brain buy because I know for a fact, you can come back to this book and its message will fit what you are currently experiencing. Like all great wisdom, a lot of people will not see it on the first, or even the second run through. That is fine, just keep it on your book shelf and know its there, and one day, you may decide to pick it up and it will speak to you.
   
   That great line "You will Know the Truth, and it will set you free" really is the essence of this book. If you are struggling trading, the truth is right in front of your face, and it has been waiting for a long time to set you free if you open yourself to it. I know I have had to get smacked with a loss bat numerous times to open my eyes. If you are at the point where you are totally exasperated with your performance, your are angry with yourself and your emotions, pick this book up and KEEP YOUR EYES OPEN.



3. This is a reprint of "Dancing With Lions", a 1999 book I already had on my bookshelf. I Liked it better the first time I read it, but maybe that is because I am a better trader now. Or maybe it is because some of the material is somewhat dated. "Dancing With Lions" suffered from poor editing. This book is better, but there are still mistakes. I would not have bought this book if I had known I already had it.
   
   I give this book a cautious (3 star) recommendation because there is so little available from people who really know how to trade. The author also has an audio course, "The Art of Evolving as a Trader" which I do not recommend.



4. I found this book to be supremely helpful. It's difficult to pin down precisely what the book says - - I think it requires several careful reads for it to "sink in." But this is definitely one of the TOP books I'd ever suggest to a friend interested in trading.



5. This book is monumental and it will lead to a paradigm shift in the way you look at trading and conduct technical analysis. As the author stated in this book "trading becomes effortless and a way of life (borrowing his words "meaning of life")."
   
   It's just an incredible transformation process you will go through as you study this book and finally get his points. During this transformation you will look at market and price movements more objectively, subsequently, to exploit market volatility.
   
   The author is brutally honest and straight forward in telling his story, which I appreciate immensely. There're sections of the book you may find irrelavant to what you are seeking, please (PLEASE) don't let it or the author's sarcasm distract your search for gems in this book. Read, re-read, and study this book until you understand and grasp his point of view - market is a mirror of a trader's thoughts/emotions/beliefs...
   
   I am grateful to the author for sharing his trading life in this book. Trading is not about techniques or price, it's a MIND thing! Trading is not hard, it's US - who we are - that makes it hard!
   
   However, I do feel that there're certain points the author failed to follow through or explain completely, maybe intentionally being vague. Mark Douglas' "The Disciplined Trader" did a more systematic and thorough job in explaining psychological aspect of trading...
   
   PS. You can also google and read his interviews, columns, and broadcasts on the web. I find them helpful.

5 comments about Trading Chaos: Maximize Profits with Proven Technical Techniques (A Marketplace Book).

1. I've been trading for more than 5 years since my graduation from college. This book offers lots of questions for philosophical speculation. Indeed, it raises many doubts about our assumptions upon this reality we reside in physically, mentally, or spiritually. Nevertheless, I will not position this book as a guidebook or a know-how methodology for beginners. This book was written or structured with a strong philosophical implications. Some chapters are nothing more than anecdotes of successful traders which I personally don't find appealingly entertaining or useful to my personal account.



2. Williams has been educating traders for many years, and is an effective teacher. His approach of "want what the market wants" and "follow the path of least resistance", are simple but essential lessons. You will learn about these lessons and more in this terrific book, and if you are open minded enough you will be able to benefit from his deeper understanding of how markets and traders behave.
   
   Some of Williams' ideas are "out of the box" for traditional practitioners: he recommends meditation tapes to his students, tapping into a holistic method, and thinking in terms of a more global and universal energy that affects the markets and each trader's mind via their thoughts.
   
   If you like Williams' approach, you may also find Bennett McDowell's system useful. He was a student of Williams' way back when, and has since gone on to become one of the newer educators in the field. McDowell's book, "The ART of Trading" The ART of Trading: Combining the Science of Technical Analysis with the Art of Reality-Based Trading (Wiley Trading) has the same energy that Williams work does, plus it offers money management techniques that complete the success picture.
   
   Williams doesn't lecture at the trade shows anymore, but his teachings can be effectively mastered by reading his books and visiting his website. Recommended reading.



3. When I first started reading this book I thought it was going to be great. He really sounds good talking about Zen and Chaos theory and non-linear vs linear - and I think he is right that the markets behave under these concepts. However, he doesn't really tell us how to apply any of this to trading. Read this book and then look at a chart. Can you trade better now knowing that you should be using a non-linear, chaos approach? No! Why? Because he doesn't tell us how to apply that theory to trading. He tells us to be one with the market and flow with it etc. That's fine and dandy - but how do we do that?
   
   He tells us that ta and mechanical systems don't work, then he reveals the system he uses to trade by - a mechanical system!!! I was shocked to see that his system is just another dime a dozen 3 ma system. How is his system using non-linear chaos theory? How is his system flowing with the market and making you more "in tune" with the market? It's just another mechanical ta system!!!(kind of sad really)
   
   This book started with great promise but ended up being a total disappointment.



4. This is the finest trading-related book ever published; if you are just starting to learn about trading and investing, please pick up a copy of Trading Chaos before you spend another dime on newsletters, software or 'hot tips.'
   
   It's not about trading a system, it's about trading your mind .......



5. Bill and Justine are made me aware of what is driving the markets. Before I met them I was caught in a circle of winning and losing money in trading. The first edition opened my eyes, new trading dimensions got me out of the dream. The home study course showed me that It is possible to trade consistently, The personal workshop with Bill taught me more than enough of the inside of the markets to grasp the why and how. Eventually workshops by Justine in the middle of Chicago made me implement it all.
   
   This new edition of Trading Chaos is refreshing. It's not about "the magic system", it's not about how to design the perfect system. No it's about real life and how the markets fit in. The perfection in the chaos, the perfect repetition of the small in to the bigger picture.
   
   Don't buy this book if you want to know which market to trade and make money. Don't buy this book if you are looking for the magical tip.
   Do buy the book if you want to learn what the market is driving and how you can profit.
   
   Do buy this book if you are clueless (like I was) about your trading mistakes.
   If you are serious go for the book, think of the implications and contact Bill and Justine to do a follow up. I did it 10 years ago and never had a moment of regret.

5 comments about A Complete Guide to Technical Trading Tactics: How to Profit Using Pivot Points, Candlesticks & Other Indicators (Wiley Trading).

1. John L. Person is not only a brilliant trader, but more importantly a very wise and level-headed individual, at least from what I can gather after reading this book. He has a very clear understanding of what it takes to be a successful trader, as well as a very comprehensive understanding of the tools that are required to be at such a level of consistency.
   
   If you can approach this book with a open mind about all the issues he delves into, you will be undoubtedly put in the right direction to success. This is definately one of the best books I have read on trading, from an overall perspective. I only wish someone had referred it to me before I read the 15+ other books prior to obtaining a copy of this one, because it definately would have sped up my learning process.
   
   For whatever it is worth, I thoroughly recommend this book to anyone and everyone who is the field of trading and isn't already highly accomplished (in fact, this select group may even benefit from his carefully selected quotes at the start of each chapter - they are all amazing).



2. What I really wanted to comment on was the website that is frequently mentioned in this book. Navellier does the same thing, for example. These websites are useful as resources, as confirmation of one's own independent analysis and research. A variety of analytical techniques, combined with a rating from one of these websites for some more confirmation, is not a bad way to trade. However, I find subscribing to a lot of these services as not only expensive ($50 a month subscriptions add up quick) but not so useful to RELY ON. (notice I said rely on, rather than not useful to use... they are very useful for providing extra information.)
   
   By the time you move into a suggested position the "real" clients of these trading strategies have already taken their positions and possibly run up the price, making the ideal bottom point of a run difficult to get in on.
   
   It is really common for trading manuals to seem like marketing ploys for their websites. If the site is a FREE SERVICE and provides research and technical details, then use it. Books that get one revved up by saying how much money their clients are making, "Go to my website to see how we do it..." (fine print- thanks for buying my book, but now you have to subscribe to my website) Be wary. Very wary. Use this information as a RESOURCE, not a crutch. As I mentioned earlier, as confirmation of one's own analysis these sites can be excellent informational sources, and can provide easily accessible, time-saving analysis. The more information from a variety of sources you employ, the better off you are.



3. I thoroughly enjoyed the book and appreciated John's candor and willingness to share methods to achieve profitablity in trading.
   I would recommend this book to anyone looking to learn a methodology
   of trading using candlestick formations and pivot points.



4. I agree with a couple of posts that say this is a very basic book, and that most of the information could be found for free on the internet. I would go as far as to say that some information would be better if read on the internet.
   
   The examples about pivots (the key part of the book), one chart after another were not easy to follow. The section on TA was woefully lacking. The author has a section on Gann theory, and more or less advises to go buy the book that Gann wrote. As it turns out, there is some pretty rich information about Gann on the web.
   
   My biggest pet peeve about this book were the continual subliminal references (advertisements) to the author's subscription based website. Besides that, I did not like the blatent plugging of the people who praised his book on the back cover. It's okay for an author to put their website on the back of the book. If the information stands on it's own then I can go to the website to learn more. What's not cool is to give vauge trading strategies, then give some glowing account of how your subscription newsletter called the shots.
   
   I did give the book two stars, which means I wasn't totally dissapointed. He does stress a couple of good points regarding pivots, but it's all pretty basic beginner stuff.



5. This book is very easy to read and follow a lot of concepts the author has mentioned. It provides a very good trading guidelines about how to make a trading decision based on the pivot point calculation and candlestick charting technique. If you know a little bit of candlestick charting, you would enjoy this book very much. In addition, it warns the traders to utilize other technical indicators as well. The more technical indicators support your conclusion, the better of placing a successful trade in the spot market. As you know every technique has some pitfalls. The author mentions that "Once in a while you will lose your shirt, but do not lose your pants because the money is in the wallet.". A very true statement. The trader always tries to survive for the next trading opportunity. I have started incorporating a lot of concepts in my trading decisions. I would encourage every trader to read this book. Learning is the ultimate way of surviving in this very volatile market.

5 comments about The Mathematics of Financial Derivatives: A Student Introduction.

1. Good Book but it lacks lots of basic information to understand the material. In order to solve the problems, you will use more Google that the book if you are new to this area.



2. This book is awkwardly written. Quite summarised, the approach used for discussing the PDEs is not familiar - see other reviews. The book as a whole doesn't fill any gab, e.g. it is not a mathematical finance book, definitely not., see Shereve or Neftcie for an example. On the other hand it is not a tools or recipes book for pricing derivatives. It doesn't do any function for me, just a waste of space. For every book I have - many, I can pick something useful from time to time, apart from that book, total waste. I am surprised of the book name, and who would be the target reader!!



3. I bought this book to learn about financial derivatives by myself. It is very easy to read for a first timer, no prior knowledge is required. It is also very comprehensive in its coverage of the subject. Overall it is a very good first book for the subject.



4. Wilmott's book was one of the first to tackle options pricing from a PDE point of view. The original book (now out of print) was a little more detailed and later superseded by this cheaper "Student Edition" overview on one hand and the "Wilmott on Quantative Finance" 3-volume set on the other hand. A per its title, this is an applied mathematics book, and therefore a minimal level of math is expected from the reader (so please, do not compare with Hull...).
   
   Taking a PDE approach, the book aims at presenting various methods for pricing financial options. While the first few chapters are pretty good at skimming the surface of the theory and laying down the key principles of options pricing, the book, in general, lacks depth. Many results (prices of barrier, lookback, asian, etc...) are given without real development or simply with a little "hand-waving". As soon as things get a little complicated, Wilmott just outlines the way forward and drops buzz-words.
   
   In that sense, the book, while attempting go beyond introductory level topics in some details, does not provide great insight into the more difficult areas of option pricing and, lacking courage, simply goes through what has become the standard presentation without adding much value. Not for beginers, but not for more advanced readers either !
   
   It is nonetheless an acceptable quick overview if you are looking for a refresher of key concepts. For a more thorough mathematical introduction to options pricing, You-Lan Zhu's book (for example) does a much better job at covering the PDE approach rigorously (proving for example some of the convergence criterias for the finite difference method, covering the linear complementarity approach as well as presenting other numerical techniques) without being overly formal.



5. maps one to one with many chapters in Hull. more elaborate derivations than Hull. Fixed income area treatment is very slim though. Good Buy for the Price.

5 comments about The Evaluation and Optimization of Trading Strategies (Wiley Trading).

1. Excellent detailed book. Really lays out the process in an understandable way yet is loaded with the techno-speak to see how it all works. Used it a lot in designing a strategy. The importance of avoiding curve-fitting and over-optimizing was made very clear. Happened to have consulted with one of the people on the back jacket that praised the book before we even discovered this book. THAT really gave us confidence that the book would help and it did. Our system is through the moon!



2. You would be better off watching the free trading videos on Trade Station to learn about creating trading systems and optimization. This book seems to be one long commercial for Pardos Group forward testing software which is no longer available. The book is basically useless since the premise is that in order to test a trading strategy you must first test it in out of sample data. This makes perfect sense but you need software and a data feed to do this otherwise time consuming testing.
   The software recommended of coerce is Pardos group which they no longer sell.



3. the book is very intersting, maybe sometimes it appears too long regarding the content but it is OK



4. This book is precisely written and gives a great educational foundation on the concepts of trading system analysis and proper optimization. TradeStation, TradersStudio and the other testing platforms are tremendous tools and can be used to develop robust trading systems but at the same time they can be quite dangerous to the novice trader. With the computational power and data that it available today, a new system developer can easily get carried away and over curve fit their trading scheme. Bob tells how not to do this. The book also covers the most important performance metrics and how they should be used to determine the robustness of a trading plan. Also Bob has worked with Bill Dunn for many years and this is definitely an indicator that Bob knows what he is writing about. If you are interested in developing robust trading systems or analyzing one to purchase, you can't go wrong buying EOTS.



5. I use Tradestation for my day trading and thought I might learn something new from this book to help me better optimize my strategy ideas. Maybe my expectations were too high. The book is a basic concepts book about strategy optimization with nothing revolutionary (in my opinion). If you are new to Tradestation and are curious about Walk Forward Analysis or Optimization, just Google it... I really need to screen the books I am considering buying more at the bookstores before I buy them. grrrr

5 comments about Schwager on Futures: Technical Analysis.

1. if you are serious about learning and understanding futures, read Schwager on Futures Tech and fundamental analysis. if you want to understand it better and remember what you learnt get the 2 study guides..
   
   simply put they are just questions on the material in the book, but it gives you the advantage of actually questioning what you have learnt. its a great start for people just learning about the cause and effects of futures markets with practical and useful questions from each chapter of the main book which help the reader gain a better understanding of concepts.
   
   great for novices, and anyone looking to better their understanding.
   
   happy trading!!



2. For anyone interested in a technical rather than fundamental approach to trading (like we are), this book has to be considered the definitive text. Although oriented around futures trading, all the information presented is equally relevant to any instrument type with a little thought and adaptation.
   
   This is more of a reference text, and contains too much information to simply read it once and put it back on the shelf. If you study this book, by the time you get to the end you will know as much about technical analysis as you ever needed to know, and will probably have thought of a significant number of ideas for new trading systems as well.



3. I found other books on TA to be more useful for reading straight through and overcoming the learning curve on TA (e.g. Technical Analysis Explained, Martin Pring *****).
   
   Although, because this book contains so much information, it is a great reference to have in your library. You will find yourself looking for more information on topics that other books don't cover in a lot of depth, so it is important to have a few good reference books.
   
   It also contains sections on developing strategies which some may find useful, although, "THE" single best resource on developing a strategy is Schwager's Market Wizards series (5x*).



4. Schwager's book is great - it covers technical analysis, price risk management and even a bit on system development.



5. I read this book ... I was thoroughly impressed.

   I had read Schwager Market Wizards books after I had read this Technical books on trading. And although I liked it, I found many of the charts and graphs quite tedious. On the other hand was thoroughly impressed at level of information that was being presented. This book is a permanent part of my collection solely because it reads more like a college text book than a commercial investment book. He really delves deep and makes you think about what futures really are and what it takes to decipher their movements. I am looking forward to his comments on single stock futures.

5 comments about Real Options, Revised Edition: A Practitioner's Guide.

1. Is a good book, however, be aware that you need a very good foundation in finance and valuation. Do not pretend to learn ROA with gaps doing a simple NPV excersice. THE BAD its really a shame been a Practitioner's guide not found the end chapter solutions to the problems, even giving you a supposed internet address to obtain it. The address does not exists.



2. The book satisfies someone who is interested in alternative concepts on how whether widely accepted view of calculating the estimate of future project or ROA gives more precise estimation.
   
   Good graphs, easy to read but good to know simple concepts like SML and CAPM model before reading the book



3. This book is a little confusing but if you have a background in finance, it is very helpful. It is also a valuable book for anyone, especially with the way the market is.



4. I'm feeling very frustrated with this book, and here's why. The text contains sample questions, and directs to a website for the solutions. The website requires registration in order to access the material. After filling out the necessary details, I received an email from the publisher stating that I did not qualify as I am not a lecturer. I pointed out that the text claims to be a practitioners guide, not a lecturers guide. After numerour emails back and forth I've given up - I'll return it instead.
   
   Most curiously I was never offered to purchase the material, so I can't even feel conned - just pissed-off.



5. I regret not requiring this text for my students this semester. While there are a few typo's, that is not the point, as the problems are all easy to work out and solve.
   
   A very, very good book. If you are teaching a senior level course that uses even just a few weeks of real options (like my engineering economy course) use this book! You can cover the whole book in 10 or 12 lectures. The end of chapter problems (while a trifle scant) are well done!