Mastering Value at Risk : A Step-by-Step Guide to Understanding and Applying VaR
Author: Cormac Butler
List Price: $39.95
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ISBN: 0273637525
Publisher: Financial Times Prentice Hall (15 October, 1998)
Sales Rank: 50,712
Average Customer Rating: 4.1 out of 5
Customer Reviews
Rating: 3 out of 5
Good Book with lots of printing error
The book is well written by the author. However, the proof reader and the publisher may be the most irresponsible for allowing too many printing error to appear in the book.It is a waste of time to read too many rubblish error in the book. If a reader is innocent and new to the VAR, then he might be mislead by the book.
Without referring to the error, this book is a must-read for a basic understanding of VAR, esp students, new market risk professional who is new to the concept of VAR. Three cheer to the author.
Rating: 3 out of 5
A practical book on VaR
Mastering Value at Risk is 80% practical and 20% theoretical. However, there are a lot of mistakes, specially printing and calculation mistakes. For example, page 24, 25, etc. ambiguous exercises. I require professional solved cases and applications of the real world. Back testing and stress testing themes present a poor development. There is a great practical case on EWMA, but it can not be compared to GARCH model, because there is not a practical case on GARCH. There is no useful application. This model is only mentioned and explained theoretically. On the other hand Montecarlo Simulation presents a certain confusion. It's unclear and imprecise.
Finally, at the end of the book an address and e-mail are written in order to make contact with the author, but such an e-mail doesn't exist. It was impossible for me to contact Cormac Butler by means of that e-mail. Besides, there is a website in order to send your questions and queries named answerback.org. It was not possible for me to access this website.
Well, the book is good for a reader used to calculate VaR, not for beginners, because of printing errors and calculation mistakes. You must to identify them before to continue the next lesson and theme. Well, my rating to this book is 3 stars.
Rating: 5 out of 5
No risk purchase
Liked the book very much. Excellent organization and presentation. Very carefully written and to the point. Practical examples spread around the theory. Highly recommended. Similar Products
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