A non-techie's perspective
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I am not a risk specialist, I'm an internal auditor. As such, I was looking for a book that would give me a good overall perspective on VaR and what sort of risk issues I should be aware of. This book suits that purpose down to the ground. It basically sets out how VaR is calculated, but in a highly accessible way (I've got a slightly dodgy A level in maths, and I could follow it) so that a non-statistician can cope. There is enough detail to be useful, but not so much that it doesn't make sense to the non-specialist. And it's written in plain English too, rather than a rather stilted management/risk-speak like some books. It also sets out the weaknesses of the different approaches (also invaluable to me as an auditor). I am sure that there are plenty of better books if you want to plunge into the minutiae of the subject. But if you want to grasp the key issues, this is the best I have found so far.
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Not for risk management professionals
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This book is not for risk management professionals in the financial industry. Its probably a kind of introduction for students in areas not related to finance as it contains several short and very general tales about how important risk management is. No examples, no formulae, just plain text. You'll not learn about data series, methods, systems, caveats, practice, current trends or whatsoever. The good news - it is an easy read and isn't expensive. I bought it after reading a recommendation and regard it as waste of time and money.
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Interesting book in a now-crowded market as it has been said
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Interesting book, a definitely good introduction to the subject. I would recommend it to anyone that is seriously intrested in exploring various topics in finance.
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A very good book
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This book gives a practical dimension to understanding VaR. It is aimed at the introductory market and its Excel spreadsheets makes it very interactive. I would recommend it without hesitation
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Very good overview book in a now crowded market
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I like the FT Market Edition series as they are very well laid out and contain excellent straightforward examples. This book is no exception. If you are new to market risk management then I would strongly recommend this book as a method of getting up to speed and I have purchased this book for junior staff in my company. The book also covers some credit risk aspects. This book is not for those with high levels of market risk experience as the examples are too simplistic. The book does contain typos which should have been edited out and I would have liked some of the mathematics to have been expanded (e.g. calculation of correlation coefficients). All in all a very good introductory book for the price.
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