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Do you remember reading The Divine Comedy and getting (finally) to the part where the two poets (apparently on an extended smoke break from their barista jobs in Brooklyn) get to the ninth circle of Hell only to think to yourself, "Brutus and Cassius? Really? I mean Judas I totally get, and these guys are distasteful and all, but the inner circle?" Well, your discombobulation is pardonable because, in fact, it was Dante who was confused. We may forgive Signor Alighieri for his error, for he was
Useful reference for anybody who trades options. A lot of practical wisdom not found in classical options literature.
high quality. makes you surprised at who the author chose to become. Best part is the trader wisdom. (traders don't often write books)
Heavy on exotics
"Guys this is a very difficult book! But there comes a time where you have to overcome difficulties if you really want to learn. (Though I assure you: if you have not previously studied John C. Hull's book, it is hard to jump out already in the simplest things)"
This is a good book on the subject. A little technical in parts.
A long time read finally finished today, though it is more of an investment reference book than a read. Somewhat complex and not for the everyday investor.....
This book will be of zero interest to anyone not involved in the securities trading industry and of small interest still to those not involved with derivatives. To those remaining, this is rightly regarded as essential reading. It is an entertaining combination of intuitive explanations, mathematical derivations, and war stories from the trading floor. Taleb's book is one of the best at teaching derivatives concepts by heuristics rather than pedagogy; while the latter is important, the former is...
Taleb is one arrogant dude who loves flooding his books with archaic words which were last employed in the English Language by Geoffrey Chauncer. But alas, Dynamic Hedging is a strong advanced text which goes through many nuanced topics. For example, he makes some good points on managing option greeks. Some chapters I really enjoyed which are hugely important in practice that you don't learn in any classroom: soft American options, discrete delta vs continuous delta, fungibility. Just a warning
Nassim in action -- one can't go wrong.
I read this book when I was still studying. At that time I found it interesting because some topics were discussed in a different way than other standard references (such as Options, Futures and Other Derivatives). However, I opened this book again many years later, after I had been working as a practitioner on a trading floor for many years, and found most of it utter nonsense. In particular the paragraph about the risk manager enquiring about an infinite delta close to the expiration of a bina...
Good analysis of exotic options hedging.
Best comprehensive and practical book on option. Period.