Sunday, 8 December 2013

[D258.Ebook] Download PDF Employees First, Customers Second: Turning Conventional Management Upside Down, by Vineet Nayar

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Employees First, Customers Second: Turning Conventional Management Upside Down, by Vineet Nayar

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Employees First, Customers Second: Turning Conventional Management Upside Down, by Vineet Nayar

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Employees First, Customers Second: Turning Conventional Management Upside Down, by Vineet Nayar

MORE THAN 100,000 COPIES SOLD

One small idea can ignite a revolution just as a single matchstick can start a fire.

One such idea—putting employees first and customers second—sparked a revolution at HCL Technologies, the IT services giant.

In this candid and personal account, Vineet Nayar—HCLT’s celebrated CEO—recounts how he defied the conventional wisdom that companies must put customers first, then turned the hierarchical pyramid upside down by making management accountable to the employees, and not the other way around.

By doing so, Nayar fired the imagination of both employees and customers and set HCLT on a journey of transformation that has made it one of the fastest-growing and profitable global IT services companies and, according to BusinessWeek, one of the twenty most influential companies in the world.
Chapter by chapter, Nayar recounts the exciting journey of how he and his team implemented the employee first philosophy by:

• Creating a sense of urgency by enabling the employees to see the truth of the company’s current state as well as feel the “romance” of its possible future state

• Creating a culture of trust by pushing the envelope of transparency in communication and information sharing

• Inverting the organizational hierarchy by making the management and the enabling functions accountable to the employee in the value zone

• Unlocking the potential of the employees by fostering an entrepreneurial mind-set, decentralizing decision making, and transferring the ownership of “change” to the employee in the value zone

Refreshingly honest and practical, this book offers valuable insights for managers seeking to realize their aspirations to grow faster and become self-propelled engines of change.

  • Sales Rank: #145014 in Books
  • Brand: Nayar, Vineet
  • Published on: 2010-06-08
  • Original language: English
  • Number of items: 1
  • Dimensions: 8.50" h x 5.75" w x .75" l, .74 pounds
  • Binding: Hardcover
  • 208 pages

Review
“In this short, personable book, he explains EFCS’s principles and how he put it to work at HCLT, turning the company’s fortunes around in just five years. The good news: EFCS strategies can work at your company, too.” — The Washington Post

“modern classic” — The Financial Times

From the Back Cover
"Rumor is that Vineet Nayar has invented a whole new way of configuring andmanaging an enterprise. I think there's more than a grain of truth to that. I'm onthe verge of the verge of declaring that Mr. Nayar could be the next Peter Drucker."--Tom PetersAuthor of In Search of Excellence"Employees are the heart and soul of every company. Vineet Nayar's book tellsthe story of how management can step out of the way to let employees lead--and to let engagement and productivity soar."--Tony HsiehCEO, Zappos.com"By putting employees first and leveraging the power of social technology,Nayar and his colleagues have created an organization that encourages extraordinarycontribution from everyone, every day. If you doubt that it's possible to turn thepyramid upside down--or wonder whether it's really necessary--I urge you to readthis thoughtful and timely book!"--Gary HamelVisiting Professor of Strategic and International Management, London Business School,and author of The Future of Management"Vineet Nayar has a revolutionary idea--that business relationships are personalrelationships, and that a successful company will understand and integrate thatphilosophy. Nayar's notions of 'trust, transparency, and the romance of tomorrow'will rejuvenate the corporate soul."--Judy McGrathCEO, MTV"Vineet Nayar's new book describes his innovative and practical approach to kindlinga fire in employees and moving the social energy of an organization forward. With themethods described in this book, Nayar enabled his Generation Y 'transformers' torealize their potential faster, increased the capacity of the organization to createvalue for its customers, and built his company into a world leader."--Ram CharanCoauthor of Execution: The Discipline of Getting Things Done"This book offers an abundance of advice for business leaders looking to transformtheir organizations by changing the culture. Nayar's lesson--that even a 'revolution'in corporate culture is really just a series of small, achievable steps--will be invaluablefor both the new manager and the accomplished business leader."--Victor K. FungGroup Chairman, Li & Fung Group

About the Author
Vineet Nayar is the CEO of HCL Technologies Ltd., India’s leading global IT Services Company. Fortune called his leadership style “The World’s Most Modern Management,” and the London Business School labeled him “the leader of organizational innovation.” IDC recognized him as having “the most cohesive and articulate vision” in the IT services sector.

Most helpful customer reviews

26 of 29 people found the following review helpful.
A simple, powerful idea
By Silea
Anyone who's ever been underpaid and undervalued by management can tell you how much harder they would have worked, how much better their work would have been, and how much more satisfied they would have been in their job if their bosses had made any efforts to respect their contributions. This is part of the basic premise of Employees First, Customers second. In short: if you treat your employees well and support them, they do better work and keep your customers happy. When you treat the people at the bottom of the pyramid like interchangeable parts, but they're the ones interacting with your customers, your customers are going to see it and your relationships with customers are going to suffer.

Mr. Nayar's book has several suggestions that apparently worked well for his company, and look great on paper: Realize that your customer-facing employees are far more important than their pay grade indicates, Increase transparency, Admit when times are tough instead of denying the elephant in the room, Make management and service departments accountable to employees. He gives examples of how his company did these things, and most of those methods seem fairly portable. In all, i'd love to work at a company that even tried to do these things, and i'd love to work with companies that respected their employees by putting them first.

I have a two complaints, one substantive and one superficial.

First, the substantive: repeatedly through the course of the book, Mr. Nayar says something to the effect of 'we had many successes, and many failures.' He never once describes a failure, an initiative that flopped, a new policy that did more harm than good. All we see is the raging successes. For an executive trying to reform their company, knowing what worked for Mr. Nayar's firm will be very helpful, but not as helpful as knowing that and what looked like it should work but ended up being a disaster. Mr. Nayar touts transparency, but gave a very self-servingly opaque account of his efforts and results.

Second, the superficial: This book is written by someone who speaks the Indian dialect of English, not the American. Sentence structure, paragraph structure, and word choice are all a little unusual to American eyes. It doesn't interfere with comprehension, but it does take a little bit of habituation.

7 of 8 people found the following review helpful.
nothing new
By Just Me
Decent, but nothing new. Poorly written. Not much meat here, unless you want to know the details (that is, facts) of the author's company (HCL Technologies); unfortunately, there are a lot of dry facts (we had X% of the market; our growth was Y%; etc.). Just not a lot of useful info here. The author references other books, such as The Trusted Advisor and The Starfish and the Spider: The Unstoppable Power of Leaderless Organizations, and I recommend that you just go straight to those books instead.

19 of 25 people found the following review helpful.
Not What I Expected
By Warren Holzem
What business owner wants to say to the world, "I don't put my customers first." But as established in the introduction, even before author Vineet Nayar tells the story of his company's transformation, an employee with a valuable skill set is an asset that's often harder to replace than some customer, especially in a field like information technology.

But this book isn't about theory. It's a case study told in first person. It's an interesting story, but there's not much of an attempt to illustrate how the concepts that worked for Mr. Nayar can work in other situations, too.

As others have pointed out, Mr. Nayar talks about his successes, but only alludes to his failures. That's understandable. We want to understand our failures, but not ncecessarily expose our weaknesses to the world. But it also gave the story of his company's transformation a one-dimensional quality.

I really was hoping for me. I was hoping not for just one company's experience, but some guidence on how a concept can be applied to other companies in other situations as well. I was over half done with the book before I realized that I wasn't going to find that if I just turned one more page.

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Thursday, 5 December 2013

[N835.Ebook] Download PDF Into That Darkness: From Mercy Killing to Mass Murder, by Gitta Sereny

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Into That Darkness: From Mercy Killing to Mass Murder, by Gitta Sereny

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Into That Darkness: From Mercy Killing to Mass Murder, by Gitta Sereny

  • Sales Rank: #11026725 in Books
  • Published on: 1991
  • Format: Import
  • Original language: English
  • Number of items: 1
  • Binding: Paperback
  • 384 pages

Most helpful customer reviews

3 of 3 people found the following review helpful.
Terrific look into the mind of a death camp commandant
By Amazon Customer
Mrs. Sereny Clearly and concisely brings you the viewpoints of SS Haupsturmfuhrer Franz Stangl from his Prison cell in Spandau. Stangl was the commandant of the Sobibor Death camp and then charged with making the Treblinka death camp an efficient killing factory. The book is completely objective, and is the last testament of Herr Stangl before his death in 1971 in the prison. A must read for any holocaust scholar, or those who wish to learn how the mind of a bureaucratic mass murderer. Although it is not light reading, I would recomend this book to anyone as preparation for history repeating itself (which it most certainly will)

13 of 16 people found the following review helpful.
A powerful and important book.
By A Customer
This "in depth" study of Nazi Germany extemination techniques has few equals- written with unrivalled compassion, it thorougly examines the political and moral aspects of mass murder. It openly exposes Hitler"s criminal programs, from Euthanasia to the Final Solution. Very importantly, it uncovers Vaticans role in helping smuggle Nazi war criminals out of Europe after the war's end. A real "must" for everyone involved in Holocaust studies.This book will give you nightmares on end.

10 of 10 people found the following review helpful.
Going into the dark corners of the human soul
By a bolduc
The author does a great job of understanding the reasons which lead Frank Standl to become the Kommandant of Treblinka. Frank Standl allows her to enter his soul and help him understand how he could have committed these attocious things. Through this, she also takes a look at the human soul. Was Frankl that different from anyone of us. Had it been us, would we had done the same thing?

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Tuesday, 3 December 2013

[X317.Ebook] Fee Download My Bread: The Revolutionary No-Work, No-Knead Method (Hardback) , by (author) Jim Lahey, by UK Published

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My Bread: The Revolutionary No-Work, No-Knead Method (Hardback) , by (author) Jim Lahey, by UK Published

  • Published on: 2012
  • Binding: Hardcover

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Thursday, 28 November 2013

[Y418.Ebook] Ebook It's Recorder Time, by Alfred d'Auberge, Morton Manus

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It's Recorder Time, by Alfred d'Auberge, Morton Manus

A basic method of building finger technique, intonation and tonguing through the performance of folk, classical and familiar songs.

  • Sales Rank: #4425 in Books
  • Brand: Alfred
  • Model: 1049837
  • Published on: 1968-06-01
  • Original language: English
  • Number of items: 1
  • Dimensions: 12.00" h x 8.75" w x .50" l, .30 pounds
  • Binding: Paperback
  • 32 pages
Features
  • Used Book in Good Condition

Most helpful customer reviews

9 of 9 people found the following review helpful.
Great Recorder Book!
By tattooedsuess
When I purchased this book, I also purchased the book titled, "Recorder Fun! Teach Yourself the Easy Way!". I like both books for different reasons. This book shows music exactly as it would appear in other actual sheet music that one would use to perform with. The other book shows the name of the notes on each individual note, which helps one to memorize them. This book shows the picture of the recorder from the top to the bottom, and the other book shows the picture of the recorder from bottom to top. Each book contains different songs from the other (which is nice), and each book contains songs with only the notes that have been learned up to that point (which again, is great). Both books also contain lyrics, where appropriate, which are nice for those who want to do duets, trios, etc. This book also gives a 1 page illustration and descriptions of the entire family of recorders, which the other book does not offer. The other book does, however, come with a CD that properly demonstrates how all of the songs in the book should be played, which is a wonderful bonus for those who plan to play the recorder as more than a hobby. Overall I am happy that I decided to purchase both books together. It seems that what one book leaves out, the other one includes - which is why I recommend purchasing both books together.

28 of 29 people found the following review helpful.
Nice way to teach your child to play (price is terrific, too!).
By Miss Darcy
I am using this to refresh my own memory from third grade and to teach my eight-year-old daughter to play. I am very impressed with the way they focus on one note at a time yet manage to pull some songs together so you feel like you're really playing something special vs. just doing a bunch of exercises. By the second lesson, we were playing together.

We have both been amused by the song lyrics, and we are sharing lots of laughs in the process, which is of course priceless.

They also include some parts for a teacher (if one is available), so you can play duets. This has also been a fun feature for us since I already know how to play.

One thing beginners should pay attention to is the timing. As they teach you notes (A,B, C, etc.), they also teach you the aspect of timing (which of course is essential). Be sure to learn that part of the lesson also.

It cost less than $30 for two recorders and this book. For that price, we are making memories and building the foundation for a lifetime of musical enjoyment. You simply can't go wrong with this book.

2 of 2 people found the following review helpful.
Recommend
By Corey L.
We got this along with a few recorders for our children. They love this book. They have learned songs easily. I would recommend this for beginners. My children are 3, 10, and 13.

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Sunday, 17 November 2013

[U935.Ebook] Free Ebook Nanomaterials: Mechanics and Mechanisms, by K.T. Ramesh

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Nanomaterials: Mechanics and Mechanisms, by K.T. Ramesh

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Nanomaterials: Mechanics and Mechanisms, by K.T. Ramesh

This book grew out of my desire to understand the mechanics of nanomaterials, and to be able to rationalize in my own mind the variety of topics on which the people around me were doing research at the time. The ?eld of nanomaterials has been growing rapidly since the early 1990s. I- tially, the ?eld was populated mostly by researchers working in the ?elds of synt- sis and processing. These scientists were able to make new materials much faster than the rest of us could develop ways of looking at them (or understanding them). However, a con?uence of interests and capabilities in the 1990s led to the exp- sive growth of papers in the characterization and modeling parts of the ?eld. That con?uence came from three primary directions: the rapid growth in our ability to make nanomaterials, a relatively newfound ability to characterize the nanomate- als at the appropriate length and time scales, and the rapid growth in our ability to model nanomaterials at atomistic and molecular scales. Simultaneously, the commercial potential of nanotechnology has become app- ent to most high-technology industries, as well as to some industries that are tra- tionally not viewed as high-technology (such as textiles). Much of the rapid growth came through the inventions of physicists and chemists who were able to develop nanotechnology products (nanomaterials) through a dizzying array of routes, and who began to interface directly with biological entities at the nanometer scale. That growth continues unabated.

  • Sales Rank: #3694119 in Books
  • Published on: 2009-05-15
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.21" h x .81" w x 6.14" l, 1.40 pounds
  • Binding: Hardcover
  • 316 pages

Review
From the reviews:

"This is a very well written book: clear, analyzes and teaches you what it is all about, anticipates questions and answers them. Very reader-friendly, a rather rare quality!"

"It covers all the fundamentals of mechanical properties, written by someone who knows them well, with a sensible approach, covering all the literature up to date and giving you the complete picture as well as the details. One learns not only nanomaterials, but materials in general."

"The book is totally self-contained, covers all the necessary background in mechanics and goes to a good enough level of covering molecular dynamics and carbon nanotubes. It will become indispensible for students/researchers in several of the areas covered: from nano-indentation, to grain size effects, to nano-devices."

"The fact that the author is primarily an experimentalist accounts for a presentation grounded on experiments and what they measure and do not measure (due to limitations), with the theory presented as the quantitative modeling of what is observed, rather than abstract theories of material behavior. I find this extremely valuable in shaping a way of approach that is the way of understanding the leading mechanisms of complex physical phenomena."

“This work is a great resource for any advanced undergraduate or graduate course on mechanical properties of nanomaterials. … Each well-structured chapter first discusses general principles and then focuses on special effects. Chapters end with a problems section and suggestions for further reading. The author provides numerous examples throughout the text, both supporting the general conceptual understanding and showing real-case examples. Summing Up: Highly recommended. Upper-division undergraduates through professionals interested in the mechanical properties and behavior of nanomaterials.” (H. Giesche, Choice, Vol. 47 (3), November, 2009)

From the Back Cover

The enabling science in much of nanotechnology today is the science of nanomaterials; indeed in the broadest sense, nanotechnology would not be possible without nanomaterials. Nanomaterials: Mechanics and Mechanisms seeks to provide an entr� into the field for mechanical engineers, material scientists, chemical and biomedical engineers and physicists. The objective is to provide the reader with the connections needed to understand the intense activity in the area of the mechanics of nanomaterials, and to develop ways of thinking about these new materials that could be useful to both research and application. The book covers all of the fundamentals of the mechanical properties of materials in a highly readable style, and integrates most of the literature on the emerging field of nanomaterials into a coherent body of knowledge.

This volume provides a basic understanding of mechanics and materials, and specifically nanomaterials and nanomechanics, in one self-contained text. Graduate and advanced undergraduate students will find well-organized chapters that provide the necessary background in mechanics, mechanical properties and modeling. The writing style illustrates concepts through quantitative modeling techniques, in contrast to theoretical abstractions of materials behavior.� Problem sets within each chapter aim to motivate discussion and further study in this rich and bourgeoning field.

Providing engineers with the knowledge necessary to take full advantage of the tremendous potential of nanomaterials, Nanomaterials: Mechanics and Mechanisms is a valuable teaching/learning tool�for mechanical engineering, physics and materials science audiences.

Most helpful customer reviews

0 of 0 people found the following review helpful.
classical treatment; no quantum mechanics
By W Boudville
Ramesh furnishes a description of nanomaterials well suited for an engineer or scientist from a variety of disciplines. The treatment is characterised by staying in the classical regime. This is not a quantum treatment.

Instead, the descriptions of such important ideas like deformation, elasticity and strain should be familiar from textbooks covering larger scales.

What is perhaps most different is the excursion into experimental methods. Many new techniques have been devised to handle the small scales involved, like nanoindentation and microcompression. Fascinating and ingenious. You should find the explanations easy to follow. Ramesh concentrates on the essentials of each method without drowning you in experimental details.

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Wednesday, 6 November 2013

[L349.Ebook] PDF Download Modeling Derivatives Applications in Matlab, C++, and Excel (paperback), by Justin London

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Modeling Derivatives Applications in Matlab, C++, and Excel (paperback), by Justin London

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Modeling Derivatives Applications in Matlab, C++, and Excel (paperback), by Justin London

Prebuilt Code for Modeling and Pricing Today’s Complex Derivatives

Justin London shows how to implement pricing algorithms for a wide variety of complex derivatives, including rapidly emerging instruments covered in no other book. Utilizing actual Bloomberg data, London covers credit derivatives, CDOs, mortgage-backed securities, asset-backed securities, fixed-income securities, and today’s increasingly important weather, power, and energy derivatives.�His robust models are designed for both ease of use and ease of adaptation, and may be downloaded by the book’s purchasers from a secured Web site.

Modeling Derivatives Applications in Matlab, C++, and Excel will be indispensable to sell-side professionals who model derivatives; buy-side professionals who must understand the derivatives offered to them; experienced quants; developers at Wall Street firms; and any financial engineering practitioner or student entering the derivatives field for the first time.

  • Presents broader coverage and more models than any competitive book Covers everything from swaps to interest rate models, mortgage- and asset-backed securities to the HJM model
  • Includes code for all three leading derivatives development platforms The only book to present models for Matlab, C++, and Excel
  • Addresses the fastest-growing areas of derivatives development Includes models for weather, power, and energy derivatives, CDOs, and more
  • Contains extensive real-world examples.

The�entire book utilizes�Matlab, C++, and Excel.� Users need Matlab installed, Visual C++, and Excel.��In addition, some examples using Matlab toolkits are used: Chapter 1�makes use of the Fixed-Income Toolkit.� Appendix A makes use of the Financial Derivatives Toolkit and Matlab Excel Link.��These toolkits do not come with the book, but can be obtained from Mathworks.

Downloadable models available ONLY to purchasers of this book.

Purchasers receive a unique access code enabling secure access to downloadable, prebuilt code and templates for Matlab, C++, and Excel.

���������������������� Preface� xv

����������������������� Acknowledgments� xix

����������������������� About the Author� xxi

Chapter 1�������Swaps and Fixed Income Instruments� 1�

Chapter�2������ Copula Functions� 67�

Chapter�3������ Mortgage-Backed Securities� 91�

Chapter�4������ Collateralized Debt Obligations� 163

Chapter�5������ Credit Derivatives� 223

Chapter�6�������Weather Derivatives� 299

Chapter�7������ Energy and Power Derivatives� 333

Chapter�8������ Pricing Power Derivatives: Theory and Matlab Implementation� 407�

Chapter�9������ Commercial Real Estate Asset-Backed Securities� 447

Appendix A�����Interest Rate Tree Modeling in Matlab� 473

Appendix B�����Chapter 7 Code� 503

����������������������� References� 543�

����������������������� Index�� 555�

  • Sales Rank: #6765283 in Books
  • Published on: 2006-12-28
  • Original language: English
  • Dimensions: 9.10" h x 1.30" w x 7.00" l, 2.25 pounds
  • Binding: Paperback
  • 600 pages

From the Back Cover
Prebuilt Code for Modeling and Pricing Today's Complex Derivatives Justin London shows how to implement pricing algorithms for a wide variety of complex derivatives, including rapidly emerging instruments covered in no other book. Utilizing actual Bloomberg data, London covers credit derivatives, CDOs, mortgage-backed securities, asset-backed securities, fixed-income securities, and today's increasingly important weather, power, and energy derivatives. His robust models are designed for both ease of use and ease of adaptation, and may be downloaded by the book's purchasers from a secured Web site. "Modeling Derivatives Applications in Matlab, C++, and Excel "will be indispensable to sell-side professionals who model derivatives; buy-side professionals who must understand the derivatives offered to them; experienced quants; developers at Wall Street firms; and any financial engineering practitioner or student entering the derivatives field for the first time.

  • Presents broader coverage and more models than any competitive book Covers everything from swaps to interest rate models, mortgage- and asset-backed securities to the HJM model
  • Includes code for all three leading derivatives development platforms The only book to present models for Matlab, C++, and Excel
  • Addresses the fastest-growing areas of derivatives development Includes models for weather, power, and energy derivatives, CDOs, and more
  • Contains extensive real-world examples.
The entire book utilizes Matlab, C++, and Excel. Users need Matlab installed, Visual C++, and Excel. In addition, some examples using Matlab toolkits are used: Chapter 1 makes use of the Fixed-Income Toolkit. Appendix A makes use of the Financial Derivatives Toolkit and Matlab Excel Link. These toolkits do not come with the book, but can be obtained from Mathworks. Downloadable models available ONLY to purchasers of this book. Purchasers receive a unique access code enabling secure access to downloadable, prebuilt code and templates for Matlab, C++, and Excel. " Preface xv" " Acknowledgments xix" " About the Author xxi" Chapter 1 Swaps and Fixed Income Instruments 1 Chapter 2 Copula Functions 67 Chapter 3 Mortgage-Backed Securities 91 Chapter 4 Collateralized Debt Obligations 163 Chapter 5 Credit Derivatives 223 Chapter 6 Weather Derivatives 299 Chapter 7 Energy and Power Derivatives 333 Chapter 8 Pricing Power Derivatives: Theory and Matlab Implementation 407 Chapter 9 Commercial Real Estate Asset-Backed Securities 447 Appendix A Interest Rate Tree Modeling in Matlab 473 Appendix B Chapter 7 Code 503 References 543 " Index 555 "

About the Author

Justin London has developed fixed-income and equity models for trading companies and his own quantitative consulting firm. He has analyzed and managed bank corporate loan portfolios using credit derivatives in the Asset Portfolio Group of a large bank in Chicago, Illinois, as well as advised several banks in their implementation of derivative trading systems. London is the founder of a global online trading and financial technology company. A graduate of the University of Michigan, London holds a B.A. in economics and mathematics, an M.A. in applied economics, and an M.S. in financial engineering, computer science, and mathematics, respectively.

Excerpt. � Reprinted by permission. All rights reserved.
Preface PREFACE

Given the explosive growth in new financial derivatives such as credit derivatives, hundreds of financial institutions now market these complex instruments and employ thousands of financial and technical professionals needed to model them accurately and effectively. Moreover, the implementation of these models in C++ and Matlab (two widely used languages for implementing and building derivatives models) has made programming skills in these languages important for practitioners to have. In addition, the use of Excel is also important as many trading desks use Excel as a front-end trading application.

Modeling Derivatives Applications in Matlab, C++, and Excel is the first book to cover in detail important derivatives pricing models for credit derivatives (for example, credit default swaps and credit-linked notes), collateralized-debt obligations (CDOs), mortgage-backed securities (MBSs), asset-backed securities (ABSs), swaps, fixed-income securities, and increasingly important weather, power, and energy derivatives using Matlab, C++, and Excel. Readers will benefit from both the mathematical derivations of the models, the theory underlying the models, as well as the code implementations.

Throughout this book, numerous examples are given using Matlab, C++, and Excel. Examples using actual real-time Bloomberg data show how these models work in practice. The purpose of the book is to teach readers how to properly develop and implement derivatives applications so that they can adapt the code for their own use as they develop their own applications. The best way to learn is to follow the examples and run the code. The chapters cover the following topics:

  • Chapter 1: Swaps and fixed income securities
  • Chapter 2: Copulas and copula methodologies
  • Chapter 3: Mortgage-backed securities
  • Chapter 4: Collateralized-debt obligations
  • Chapter 5: Credit derivatives
  • Chapter 6: Weather derivatives
  • Chapter 7: Energy and power derivatives
  • Chapter 8: Also covers model implementations for energy derivatives using Matlab, but is written and based on the proprietary work of its author, Craig Pirrong, professor of finance and director of the Global Energy Management Institute at the University of Houston.
  • Chapter 9: Commercial real-estate backed securities (a type of asset-backed security), which is written and is based on the proprietary work of its author, Tien-Foo Sing, professor in the Department of Real Estate Finance at the National University of Singapore.

In order to provide different perspectives to readers and provide as much useful information as possible, the work and models developed and written by various leading practitioners and experts for certain topics are provided and incorporated throughout the book. Thus, not only does this book cover complex derivatives models and provide all of the code (which can be downloaded using a secure ID code from the companion Web site at http://www.ftpress.com/title/0131962590), but it also incorporates important work contributions from leading practitioners in the industry. For instance, the work of Galiani (2003) is discussed in the chapter on copulas and credit derivatives. The work of Picone (2004) is discussed in the chapter on collateralized-debt obligations. The work of Johnson (2004) is discussed in the chapters on fixed-income instruments and mortgage-backed securities. The valuable work for energy derivatives of Doerr (2002), Xiang (2004), and Xu (2004) is given. In Chapter 8, Craig Pirrong discusses the Pirrong-Jermayakan model, a two-dimensional alternating implicit difference (ADI) finite difference scheme for pricing energy derivatives. In Chapter 9, Tien-Foo Sing discusses using Monte Carlo to price asset-based securities. Moreover, numerous individuals named in the acknowledgments contributed useful code throughout the book.

The book emphasizes how to implement and code complex models for pricing, trading, and hedging using C++, Matlab, and Excel. The book does not focus on design patterns or best coding practices (these issues may be discussed in subsequent editions of the book.) Efficiency and modularity are important design goals in building robust object-oriented code. In some cases in this book, the C++ code provided could perhaps be more modular as with some of the routines in building interest rate trees. The emphasis throughout the book has been to provide working implementations for the reader to adapt. However, the book does provide some discussions and helpful tips for building efficient models. For instance, memory allocation for data structures is always an issue when developing a model that requires use and storage of multi-dimensional data. Use of a predefined two-dimensional array, for instance, is not the most efficient way to allocate memory since it is fixed in size. A lot of memory may be unutilized and wasted if you do not know how large the structure needs to be to store the actual data. On the other hand, the predefined array sizes may turn out not to be large enough.

Although two-dimensional arrays are easy to define, use of array template classes (that can handle multiple dimensions) and vectors (of vectors) in the Standard Template Library in C++ are more efficient because they are dynamic and only use as much memory as is needed. Such structures are used in the book, although some two-dimensional arrays are used as well. Matlab, a matrix manipulation language, provides automatic memory allocation of memory as data is used if no array sizes are predefined. All data in Matlab are treated as matrix objects; e.g., a single number is treated as a 1 x 1 array. Data can be added or removed from an object and the object will dynamically expand or reduce the amount of memory space as needed.

While every effort has been made to catch all typos and errors in the book, inevitably in a book of this length and complexity, there may still be a few. Any corrections will be posted on the Web site.

Hopefully, this book will give you the foundation to develop, build, and test your own models while saving you a great deal of development time through use of pre-tested robust code.

Supplemental Files on the Web Site

To download the code in this book, you must first register online. You will need a valid email address and the access code that is printed inside the envelope located at the back of the book.

To register online, go to http://www.ftpress.com/title/0131962590 and follow the on-screen instructions.

If you have any questions about online registration or downloading the code, please send us an inquiry via the Contact Us page at http://www.ftpress.com/about/contact us/.

NOTE: The code files are Copyrighted � 2006 by Justin London and the contributors thereof. Unauthorized reproduction or distribution is prohibited. All rights reserved.


� Copyright Pearson Education. All rights reserved.

Most helpful customer reviews

5 of 12 people found the following review helpful.
State of the art derivative modeling book
By I. C.
Great book. But the code downloading process is a bit weird. Don't know why they just attach a CD.

1 of 3 people found the following review helpful.
Very Valuable and Comprehensive Code
By Aaron Epstein
I believe this is one of the best written derivatives books--it is the only book the provides code for the most complex pricing models. This book was written to help practitioners, traders, and students alike. This book covers some very complex derivatives including credit derivatives, CDOs, CMOs, MBSs, energy, weather, and electricity derivatives. The author provides a lot of examples. The author does a phenomenal job of providing both the math and theory behind the models as well as robust implementations in Matlab, C++, and Excel. There are chapter contributions from very well respected professionals. It was very easy to adapt the code to actual trading models since real-time data feeds can be integrated.

2 of 4 people found the following review helpful.
Stay clear of this book
By Jim Smith
There are a few good books out there in C++ for Finance. This is definitely not one of them.
Pretty much no intuition, no finance, and lots of sloppy code. So if you are looking for cut-n-paste of code that won't even work you may be into something interesting.
Otherwise, keep looking.

See all 5 customer reviews...

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The Eye: The Physiology of Human Perception (Human Body (Rosen Educational Publishing))From Rosen Education Service

The human eye has been the subject of endless fascination. Indeed, the very nature of sensory perception is shaped by the visual cues the brain receives, thus rendering the eye one of the most crucial elements in our comprehension of the world. The structures and functions of the eye are examined in this exhaustive volume that describes how we are able to process what we observe and react accordingly. Detailed diagrams accompany the text and encourage the reader to consider all aspects of this beautiful and complex area of human anatomy.

  • Sales Rank: #4497501 in Books
  • Published on: 2010-09-01
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.00" h x .80" w x 6.00" l, 1.20 pounds
  • Binding: Library Binding
  • 250 pages

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