( 5 reviews )
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( 2 of 2 found this review helpful ) Posted: Apr 21 2003
I used this book extensively for the Financial Risk Management exam and I am pleased to say passed and am a certified FRM now. The contents of the book cover the syllabus of the exam well.
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( 14 of 17 found this review helpful ) Posted: Feb 17 2002
Well, what can I say. I am extremely disappointed and really upset. I want my money back. !!!They ripped me off!!!. I bought this book because Lev Borodovsky is the Chairman of the GARP, but unfortunately he didn't write the book. He didn't developed any theme. He is just a seller who recommends the purchase of the book. He plays a decoy role. It's a dishonest attitude towards the readers and risk management professionals. The professional's handbook of financial risk is no more than a dictionary, a big dictionary on risk management. As a reader said: a summary. There is NO huge and depth development of each subject. In this handbook the themes are presented in a simply and tiny wayOne reader said, this book is for consumers who work in the field of financial risk management. Well, I work as a professional risk management consultant and derivatives lecturer. So, I can use this book as a simple dictionary. It doesn't add anything. I prefer Risk Management by Michel Crouhy as a better professional handbook on risk management. With respect to VaR, Jorion's Value at Risk is tremendously and immensely much better. The second theme: Measuring volatility, ARCH models and GARCH specifically are terribly bad developed, pitiable and vague. There is no useful application. A great, objective, practical discussion on GARCH, estimating volatility and correlations are discussed in Options, Futures & other derivatives by John C. Hull. Believe it or not.!! Every book must have a balance between a theoretical and practical content, let's say 50-50. Borodovsky's Financial risk management has a 90% conceptual (not theoretical) and 10% practical. When I say practical, I mean effortless and unclear exercises, not professional solved cases and applications of the real world. Back testing and stress testing themes present a deficient, incomplete and poor development. A Montecarlo simulation very unsatisfactory and pathetic.The professional's handbook of Financial risk management is a rip-off. Definitely a rip-off!!!. This book should cost $40.00 dollars. It's just a dictionary. It deserves 2 star.
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( 3 of 4 found this review helpful ) Posted: Dec 15 2001
As the previous reviewers have mentioned, this book is most useful for consumers who work in the field of Financial risk management. I however am studying a course in this field at University and what i can say is that this book as bumped up my essay grades. The reference books i work with aren't as comprehensive, upto-date or as well researched as this book. If you want great examples, useful figures and information this is where you should look. If you're a student and have alot of spare cash then this is for you, alternatively as reviewers who work in this field have said- its worth the money. Be warned that although the lay-out is logical and well presented, it isn't in large fonts with pictures and colours like most college text books.
