INTRODUCTION TO DERIVATIVE SECURITIES, FINANCIAL MARKETS, AND RISK MANAGEMENT, AN (SECOND EDITION)

This is an excellent book on derivatives with a focus on intuition. It is also unique in that it approaches the subject with an economics perspective. Finally, it presents the Heath-Jarrow-Morton (HJM) model in an accessible way. Highly recommended!

This book is a great book to introduce the basics of derivatives and financial markets. I like this book. It has really good visualizations to explain the concepts. Especially, when it comes to the few famous financial models. It is super easy to follow and understand the models with clear graphs and examples. Another reason that I like this book is that this book contains a lot of topic related stories which happened in the financial market. I love this part. Normally without stories and cases, I would not remember all the concepts. However, in this book, the stories and case help me understand the concepts well and memorize.

The division sign "/" is missing in every formulas in the kindle Edition. For a book relying so much on mathematics this is a fatal flaw. Same issue on my tablet. Please fix this.UPDATE : I reopened the kindle edition today to see if the issue had been fixed and I was happily surprised to see it was the case ! All the formulas with divisions have been replaced by pictures and are now making sense again. It must have been a lot of work to update the few hundreds of these, so kudos to the writer. I can now recommend this kindle edition and I updated the score from 1 to 5.