The emphasis is on a description of the various products, as well as how to price them. The emphasis stays on the theory of pricing, rather than delving right down into computer algorithms, so if you need to write derivatives software, I recommend the excellent 'C++ Design Patterns and Derivatives Pricing' by Mark Joshi - but read this book first.

This should definitely be your first book on derivatives. Only after reading several other books on derivatives, after first reading 'Hull', did I realise how clear his book is, and how some other authors manage to make things so confusing.


Buy it, learn it, love it   December 13, 2004
 3 out of 3 found this review helpful

THE definitive derivatives introduction - everyone in the industry has read and they will expect you to have done the same. Ten years ago nothing could touch it for its breadth and depth of coverage. In recent times its position as the best has come under attack from a number of pretenders to the crown (probably Wilmott most notably) but in my opinion it still holds the title.