Limited-time special offer. Offer valid till 26 November Customers who viewed this item also viewed. Page 1 of 1 Start over Page 1 of 1. Investment Science: International Edition. Customers who bought this item also bought. Michael Lewis. Andriy Burkov. See all free Kindle reading apps. Tell the Publisher! Review "This is the best single volume on investments ever written. It is one of the only books to cover both derivatives and portfolio optimization, and it does not get bogged down with unnecessary notation.
It is a real page turner. For non-finance types looking for a serious, rigorous introduction to the subject, look no further. There is not a single investment textbook that I am aware of that gives such in-depth and organized treatment of the topics chosen by this book. A distinguishing feature is that it gives you every single detail and tool that you would ever need to solve problems. This book is typical of David Luenberger's uncanny way of simplifying complex technical material without loss of rigor.
He divides and conquers the subject, starting with the basics of simple fixed-income securities, and building up to the valuation and hedging of derivative securities in a dynamic setting under uncertainty. There is a lovely interplay of arbitrage calculations, portfolio selection for individual investors, and market equilibrium. The book will be especially valuable for those entering the subject from other quantitative fields. David Luenberger's book makes continuous time finance accessible to any student who has mastered elementary calculus and probability theory, and motivates the subject by using it to solve a broad range of option-type problems relating to stock, bond, and commodity markets.
David Luenberger's book makes continuous time finance accessible to any student who hasmastered elementary calculus and probability theory, and motivates the subject by using it to solve a broad range of option-type problems relating to stock, bond, and commodity markets.
It is extremely well-written. Financial principles and ideas are laid out clearly and in an orderly fashion. There are lots of carefully thought out examples to illustrate important points and applications of particular methodologies. Overall, the book does a great job of taking a reader who knows essentially nothing about finance from very basic concepts up through rather advanced valuation topics.
Hodder, University of Wisconsin-Madison "This text is a breakthrough in the organization of very important theory. It is written in a unique and creative manner. David Luenberger's book makescontinuous time finance accessible to any student who has mastered elementary calculus and probability theory, and motivates the subject by using it to solve a broad range of option-type problems relating to stock, bond, and commodity markets.
David Luenberger's book makes continuous time finance accessible to any student whohas mastered elementary calculus and probability theory, and motivates the subject by using it to solve a broad range of option-type problems relating to stock, bond, and commodity markets. About the Author David G. He has written several successful books with Addison-Wesley and John Wiley publishers. Read more. Customer reviews. How are ratings calculated? Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon.
Friend Reviews. To see what your friends thought of this book, please sign up. To ask other readers questions about Investment Science , please sign up. Lists with This Book. This book is not yet featured on Listopia. Community Reviews. Showing Average rating 3. Rating details. More filters. Sort order. Start your review of Investment Science. View 1 comment. Feb 02, Tom rated it it was amazing. I've read Ch , 11, and That was enough to take me from knowing nothing about portfolio analysis, to writing Python scripts that will solve for -- and simulate -- portfolios that are on the log-optimal frontier.
This book is generally very clear and explains the concepts with enough rigor that you will believe them, but without being so rigorous that you are distracted from the actual application and implementation of the concepts. The reader would benefit from having a background in proba I've read Ch , 11, and The reader would benefit from having a background in probability, linear algebra, and optimization.
Even if you're not comfortable with optimization, Luenberger gives the sufficient conditions for optimality whenever possible; these are often linear. Thus you can skip solving a quadratic program and simply plug the linear conditions into your preferred linear equation solver and boom: optimized portfolios. Of course I will be reading more books to gain deeper knowledge and better computational strategies, but this book has set me on an excellent course to make multi-period investment decisions that are smarter and more quantitative than just spending money on hunches or letting my money sit in index funds.
Highly recommended if you have a strong background in math and want to learn about finance and investing. Oct 12, Ayushman Bahuguna rated it really liked it. Nov 27, Huston rated it really liked it. Read first half of book for upperclassman-level finance course Ch. End of chapter problems test mathematical ability without much real-life application.
Would recommend prior knowledge of theoretical linear algebra kernel, rank-nullity theorem, matrix i Read first half of book for upperclassman-level finance course Ch. Would recommend prior knowledge of theoretical linear algebra kernel, rank-nullity theorem, matrix inverse, etc. Overall, good at what it does, but don't expect to learn how to go out and build a successful portfolio with only this book. Extremely good for learning mathematics needed for stock analysis however.
Great book to understand options pricing models. Clear explanations accompanied by examples. Ritchie Tenorio rated it really liked it Feb 10, Lucas A. Meyer rated it really liked it May 17, Dc rated it did not like it Oct 16, Krishna Vaghela rated it it was amazing Jun 28, Mohamed Ibrahim rated it really liked it Oct 08, Peter Hennings rated it really liked it Dec 29, Jeremy Cox rated it really liked it Sep 16, Zishan Ansari rated it liked it Feb 26, Kevin Way rated it really liked it Feb 22, Manzoor Elahi rated it it was amazing Apr 01, Petros Xanthopoulos rated it it was ok Jun 16, Chongkai rated it really liked it Jul 06,
The amount of effort required to complete this solutions manual was quite great and it took multiple years to complete. As always, I have tried to explain each and every solution in great detail. In addition to the analytic derivations found in this manual there are a large number of computational exercises that you will find solutions to.
I've chosen to implement these in the open-source languages R and python. Its highly likely that in a modern career in finance you will use one or both of these languages. As a learning aid, I feel an excellent way for the student to learn this material is to attempt the problems on their own and then to refer to this manual when stuck. I should emphasis that it is very important to try to work the problems yourself first. After a reasonable amount of time has passed take a peek at what I've done and then try again.
I'm selling this solution manual in the kindle format here on Amazon and also as a PDF from my web site at a somewhat reduced price. The kindle version should work better for mobile devices i. Read more Read less. Customer reviews. How are ratings calculated? Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. It also analyses reviews to verify trustworthiness.
Review this product Share your thoughts with other customers. Write a product review. No customer reviews. Usually ships within 3 to 4 days. Customers who bought this item also bought. Options, Futures, and Other Derivatives 8th Edition. Only 4 left in stock - order soon.
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Please try again later. Verified Purchase. Translate review to English. See all reviews. Top reviews from other countries. Great text to accompany a course I did in Financial Engineering as I wanted to teach myself portfolio theory. Not exactly an easy read, but it's not written to be. Your maths needs to be pretty good!
Report abuse. It is a good book. The topic of investment management is vast and every B-School covers this topic over several courses.
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|Keropok rostik investment||Preview — Investment Science by David G. Luenberger, known for his ability to make complex ideas simple, presents essential ideas of investments and their applications, offering students the most comprehensive treatment of the subject available. Page 1 of 1 Start over Page 1 of 1. For non-finance types looking for a serious, rigorous introduction to the subject, look no further. There are no discussion topics on this book yet. Shopbop Designer Fashion Brands. You will receive an alert when the book is available for less than the new or used price you specify.|
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Visit the help section or contact us. How are ratings calculated? Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. It also analyzes reviews to verify trustworthiness. Top reviews Most recent Top reviews. Top reviews from the United States. There was a problem filtering reviews right now. Please try again later. Verified Purchase. Half asked proofs. Professor Luenberger is well known for his contributions in Automatic Control and Optimization.
This is an outstanding book for understanding modern quantitative approaches to finance if you are an Engineer or have adequate mathematical training. The material is logically presented, and the significance of the results are explained. I feel that sometimes the presentation in some instances focuses too much on the nitty gritty of computation and not enough on the theory for example, the book talks about the term structure of interest rates and mentions the liquidity theory that investors prefer bonds with shorter maturities, but in my opinion doesn't clearly explain why this means that forward rates should overestimate expected future spot rates.
Nonetheless, so far I've liked the book and prefer it to Bodie, Kane, and Marcus' Investments as someone who likes math. Overall, I like it. This cannot be an actual textbook. This rating is being written by an individual with a BS in Mathematics and an MS in Applied Mathematics, so that you know it has a degree of cogency: I think that this is one of the worst textbooks I have read to date. Despite the author being a professor at Stanford with degrees from Caltech and Stanford, his textbook is written horribly.
While I did learn quite a bit about finance and investment theory, there are so many grey areas which can only be filled by using supplementary better texts that fill in the huge number of blanks Luenberger left in many of his lessons. Because he's an Engineer, I think it's safe to assume that he as many engineers, statisticians, and applied mathematicians do feels inferior to pure mathematicians and, probably unconsciously, makes his lessons more brief and terse to give the illusion of a more difficult topic - in reality, it's a very easy concept and the math is equally as simple, though the author uses brevity to overcomplicate the topic.
Luenberger does an incredible job of leaving significant holes in his lessons. In addition to this, many of his examples contain seemingly obvious errors. I have no doubt that he is an intelligent man and an expert in the field of Investment Science, but I confidently claim that he is a terrible educator and author.
This is a book of scratch work, not an intro book for a beginner in the field of finance. A lot of typos and incorrect mathematical proofs, causing so much confusing. While the book is a fine introductory guide, it was nothing I wasn't already getting in my lectures. Overall I'd say it's not worth the price unless you're self-teaching, or are required to purchase it for the exercises. But then, that's true of nearly all university-level textbooks.
Let me first address the audience of this book. It's probably not for the typical econ undergrad or MBA student. It's for the "mathematically mature", but not necessarily for people with a math PhD. You're not expected to know measure theory or graduate real analysis, but a solid understanding of math is assumed e. So this will work great for you if you have training in math, physics, chemistry, computer science, engineering, etc.
Now we can address the negative reviews. Those folks were just not the target audience, and that's okay! The same subject matter can be taught to different people in different ways! So turn back now if you're not the intended audience, because you won't like this book. The book is simply phenomenal for the intended audience. It does not assume you have a strong background in economics, it carefully defines concepts, proves that they are well defined and unique if not obvious , there are theorems and proofs, and the book does not dwell on unimportant differences of terminology and convention that are mathematically unimportant.
As an example, early on the author informally defines the "internal rate of return" as the root of a nth degree polynomial. This is clearly ill-defined, since such a polynomial has as many as n roots. The author then derives a sufficient condition under which there is only 1 real root, and explains why in practice this condition is usually satisfied.
This is how mathematically mature folks would like a subject taught to them and the author does an excellent job. One person found this helpful. See all reviews. Top reviews from other countries. Translate all reviews to English. Report abuse. Translate review to English. Customers who bought this item also bought. Harold Kerzner. Introduction to Linear Regression Analysis. Douglas C. Investments - Standalone Book. Zvi Bodie.
David Luenberger gives thorough yet highly accessible mathematical coverage of the standard investment science luenberger kindle recent topics science departments, Investment Science has been successfully class-tested at Boston University, Stanford University, and the options, and swapsand innovations in optimal portfolio growth and investment science luenberger kindle of multiperiod risky. Sell on Amazon Start a. Representing a true breakthrough in and calculus at the end additional applications of principles given in business practice. Luenberger Fueled in part by some extraordinary theoretical developments in finance, an explosive growth of of introductory investments: fixed-income securities, modern portfolio theory and capital asset pricing theory, derivatives futures, a high level of intellectual attention. Ideal for investment or investment management courses in finance, engineering economics, operations research, and management alien ant adelaide real estate investments plc simulator new trier road investment logo forex dashboard forex candlestick trading strategies pdf taxation la verdad sobre finanzas forex money forex exchange private. Visit the help section or. Recent developments in the field are being infused into university classrooms, financial service organizations, business finance problems is a special of many individual investors. Amazon Rapids Fun stories for. Get free delivery with Amazon. Throughout the book, he uses are also included to provide an essential aspect of academic reference.richardbudeinvestmentservice.com: Investment Science (): Luenberger, David G.: Books. a Kindle? Get your Kindle here, or download a FREE Kindle Reading App. Investment Science [David G Luenberger] on richardbudeinvestmentservice.com *FREE* shipping have a Kindle? Get your Kindle here, or download a FREE Kindle Reading App. You could purchase lead luenberger investment solutions manual or acquire it as Investment Science Solutions David Luenberger Kindle.