Mathematics and Statistics for Financial Risk Management - (Wiley Finance) 2nd Edition by Michael B Miller (Hardcover)
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<p/><br></br><p><b> About the Book </b></p></br></br>"This is an excellent book to grasp the basics of financial risk management. Everything in the book is explained from scratch and the concepts are very well exemplified with real life situations. Accompanied with a website filled with excel sheets for application, the book is great for future course material. This Second Edition of Mathematics and Statistics for Financial Risk Management includes 2 new chapters. The first chapter is on Bayesian Analysis and covers Bayes' Theorem, Many State Problems, Continuous Distributions, Bayesian Networks, and Bayesian Networks versus Correlation Matrices. The second new chapter is on Hypothesis Testing & Confidence Intervals and is on The Sample Mean Revisited, Sample Variance Revisited, Confidence Intervals, Hypothesis Testing, Chebyshev's Inequality, and Application: VaR. All chapters will have problems for testing and answers online"--<p/><br></br><p><b> Book Synopsis </b></p></br></br><p><i>Mathematics and Statistics for Financial Risk Management</i> is a practical guide to modern financial risk management for both practitioners and academics.</p> <p>Now in its second edition with more topics, more sample problems and more real world examples, this popular guide to financial risk management introduces readers to practical quantitative techniques for analyzing and managing financial risk.</p> <p>In a concise and easy-to-read style, each chapter introduces a different topic in mathematics or statistics. As different techniques are introduced, sample problems and application sections demonstrate how these techniques can be applied to actual risk management problems. Exercises at the end of each chapter and the accompanying solutions at the end of the book allow readers to practice the techniques they are learning and monitor their progress. A companion Web site includes interactive Excel spreadsheet examples and templates.</p> <p><i>Mathematics and Statistics for Financial Risk Management</i> is an indispensable reference for today's financial risk professional.</p><p/><br></br><p><b> From the Back Cover </b></p></br></br><p>The first edition of this work was clear, comprehensive, and up-to-date. The <i>Second Edition</i> is all that and includes important new material on Bayesian and classical methods. Extensive examples and problems make clear how these concepts are used in the world's top financial institutions. The book is perfect for self-study or classroom use.<br /> --Aaron Brown, author of <i>Red-Blooded Risk, A World of Chance</i>, and <i>The Poker Face of Wall Street</i></p> <p>Michael B. Miller provides a very accessible ride across the daunting waters of mathematics for quantitative risk management.<br /> --<b>Attilio Meucci</b>, founder, SYMMYS</p> <p>At every turn, this book shows the relevance of mathematical and statistical concepts to risk management. They are no longer the desiccated notions found in most textbooks but assume a sense of vibrancy. So, if you're trying to hone your skills, this book is a great place to start.<br /> --<i>Seeking Alpha</i></p> <p><b>A practical guide to modern financial risk management for both practitioners and academics</b></p> <p>Now in its second edition, with more topics, more sample problems, and more real-world examples, this popular guide to financial risk management introduces readers to practical, quantitative techniques for analyzing and managing financial risk.</p> <p>This incisive resource: </p> <ul> <li>Covers basic statistical concepts--from standard deviation and correlation to regression analysis and hypothesis testing</li> <li>Explores widely used risk models, including value at risk, factor analysis, Monte Carlo simulation, and stress testing</li> <li>Contains numerous sample problems and end-of-chapter exercises (with answers)</li> <li>Includes a companion website with Excel examples and templates</li> <li>Features two new chapters, which cover multivariate distributions, copulas, and Bayesian analysis</li> </ul> <p><i>Mathematics and Statistics for Financial Risk Management</i> is an indispensable reference for today's financial risk professional.</p><p/><br></br><p><b> About the Author </b></p></br></br><p><b>Michael B. Miller</b> studied economics at the American University of Paris and the University of Oxford before starting a career in finance. He is currently the CEO of Northstar Risk Corp. Before that, he was the Chief Risk Officer of Tremblant Capital Group, and prior to that, Head of Quantitative Risk Management at Fortress Investment Group. Mr. Miller is also a certified FRM and an adjunct professor at Rutgers Business School.</p>
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