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Simply the best book written on mathematical finance. Bouchaud brings a physicist's clarity, insight and deft use of mathematical tools to finance. There has never been a better generalisation of the Black-Scholes hedging recipe. I know of no book in finance where equal attention is paid to data and the models used to describe them. Practical concerns are what drive the book from front to end. Furthermore, Bouchaud writes superby and elegantly, in sharp contrast to standard finance books, which are unrivalled for their pedantry. Mathematical finance was for years hijacked by individuals with no experience of, and interest in, real life modelling. We desperately need the insights and methods of applied science that an approach like Bouchaud's brings. A first in this field.
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