Rating  - Outstanding
Taleb once again. Although you may require some knowledge on futures and option trading to understand the bottom of the story, it is nice book, light to read and usefull. If you trade on futures and options you should take a look inside, not becuase of the technical content but to have a close look at the man's ideas.
Rating - Excellent book, intuitive approach although not to be used for introductory purposes
Before starting as a trader I had studied Hull in college and took some 'advanced' investments classes. On the first day of work I was told to read 'Dynamic Hedging'.
My impression: Hull teaches you the (very) basics and Taleb gives you insight in the concepts that are truly relevant. However, do not expect to read it and get everything he writes. As it is written from a practicioner's point of view, things will probably only become cristal clear when you re-read it after spending a considerable amount of time in the dealing room.
Rating - Quick Question
This isn't so much a review as an inquiry -
I'm still working through this book, but I've noticed that it is replete with algebraic errors. Taleb doesn't always go through every step of his calculations, so they're difficult to follow.
Does anyone else notice these errors or am I getting caught in the algebra? An example is on page 38 towards the top:
He says that 12,500,000/.985 is 1,269,000. Even with the rounding (shaving off the 355), I'd say he's off by a factor of 10. Shouldn't the answer by 12,690,000? To confirm this, in the next paragraph he writes that a 1 cent rise in the futures price will yield $125,000 in profits on the future (12,500,000*.01) or $126,900 on the forward hedge. Intuitively, it seems that to get $126,900, you could divide $125,000 by .985 or multiply 12,690,000 (the answer you should've previously arrived at) by .01.
There are other errors like this throughout the book - anyone else notice them?
Rating  - Revised edition?
Books-A_Million lists a revised edition, ISBN: 0471353477, with December, 2008, as a publication date. Their advance order price is $76.95.
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