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Science of inexact mathematics. Investment performance measurement. Mortgages and annuities. Computing algorithms. Attribution. Risk valuation | 
 enlarge | Author: Yuri K. Shestopaloff
Publisher: AKVY Press
Category: Book
List Price: $89.95
Buy New: $49.95
You Save: $40.00 (44%)
New (11) Used (8) from $49.95
Rating:  reviews
Media: Hardcover
Pages: 592
Number Of Items: 1
Shipping Weight (lbs): 2.3
Dimensions (in): 9.1 x 6.1 x 1.4
ISBN: 0980966701
Dewey Decimal Number: 332.678
EAN: 9780980966701
Publication Date: September 22, 2009
Availability: Usually ships in 1-2 business days
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| Editorial Reviews:
Product Description
This book presents a coherent and comprehensive study of mathematical methods for investment performance measurement, attribution analysis, mortgages, annuities, and investment risk measurement. It further discusses other advanced topics such as the linking algorithms for rates of return. For the first time, computational algorithms used in these areas of financial mathematics, and the efficiency of their software implementation receive thorough consideration. Overall, this unique work provides a clear conceptual vision of the entire discipline. The high level academic presentation is very well supported by lots of numerical examples, numerous tables and figures. The book includes extensive material for a wide range of related undergraduate and graduate courses in finance and computational mathematics. Many of these courses can be built entirely on the book's content. Academics, researchers and industry specialists, in particular investment analysts and system designers, will find this book an invaluable and comprehensive source of knowledge, reference material, and new ideas.
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| Customer Reviews:
Very interesting read February 20, 2010
angel
In my view, the pros are the comprehensiveness and depth of the subject coverage; a consistently scrupulous level of detail; flawless clarity of presentation. What appeals is that the reader can start from scratch and get to an advanced level in all areas of investment performance measurement just by reading this one book, in parts or as a whole. The volume combines the qualities of a reference book, well thought through and conceptually seamless monograph, and a handy manual, when it comes to practical application of investment performance methods and computational algorithms. All in one book! As a note, the computational and system implementation parts are unique, both with regards to the subject itself and, again, in the comprehensiveness of coverage. System designers should be happy to have this book when designing financial systems. Financial analysts, like myself, will benefit in all aspects of business knowledge. The good thing is that the book will be up-to-date for a long time, the depth of conceptual thinking that it presents will unlikely change for decades. I am not sure that all people need the small occasional insertions of general considerations, some of them almost of a philosophical level. Personally, I found some of them interesting. However, this is a minor thing. This is not that these insertions should not be there. They are just not for everybody. Otherwise, the book is an excellent buy.
Useful for beginners and professionals August 24, 2009
A. Sharikov (LA, USA)
The author calls this manuscript a reference book. This is true, because beginners who specialize in the given area will find accurate definitions, necessary formulas for compound and non-compound use cases, many illustrations and practical examples of calculations of internal rate of return.
For the wider public, the book will be useful as good reading about the pitfalls of calculating internal rates of return when simple non-compound formulas are used to simplify calculation instead of more accurate compounding approaches.
On the other hand, professional practitioners will find analyses and examples on the implementation of numeric methods and computer algorithms, including a comprehensive first-hand explanation of Shestopaloff's linking (SL) method from its author.
SL allows one to combine internal rates information about different investment periods to find total rate of return. The method can be used to link sequential and non-sequential periods.
The author shows the relationship between SL and well-known geometric linking and how SL extends the geometric linking approach.
The author compares the results of all algorithms available today to prove SL effectiveness.
I found interesting the discussion of the important role of modified Dietz formula and its usage in numeric calculation.
The book describes different mathematical aspects of annuities, mortgages, the internal rate of return equation, investment attribution analysis, and risk assessments, and can probably be used for the development of new trading techniques.
A valued contribution as a graduate level mathematics curriculum supplemental resource June 7, 2009
Midwest Book Review (Oregon, WI USA)
For dedicated mathematicians, there is as much art and beauty as there is science in their calculations, formulas, precepts, concepts, and expositions. There is also utility, practicality, insight, and value in the application of mathematical principals to financial systems and the economy which are complex compilations of factors that mathematicians develop models to explain otherwise inexplicable and seemingly random phenomena. That's why Yuri Shestopaloff's "Science of Inexact Mathematics: Investment Performance Measurement, Mortgages and Annuities, Computing Algorithms, Attribution, Risk Valuation" is such a seminal work in the field of applied mathematics to financial issues and economic performances with respect to investment strategies and interpretations. Offering detailed computing algorithms (including software implementation), the informed and informative text is enhanced with numerical examples, graphical and tabular illustrations throughout. A work of impressive scholarship, Yuri Shestopaloff's "Science of Inexact Mathematics" is especially recommended for academic, governmental, and professional library collections and is a valued contribution as a graduate level mathematics curriculum supplemental resource.
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