Ebook: Financial Markets and Martingales: Observations on Science and Speculation

Is it really possible to make money on the financial markets? This is just one of the questions posed in this practical and thought-provoking book, winner in the original french version, of the "Best financial economics book” prize 1999 from the Institute de Haute Finance, and the "Prix FNAC-Arthur Anderson du meilleur livre d’entreprise 2000”. Starting with games of chance, from which probability theory was born, Nicolas Bouleau explains how the financial markets operate, and demonstrates how the application of mathematics has turned finance into a high-tech business, as well as a formidable and efficient tool. The human side of finance is also considered, with a look at the influence of the trader and the working relationships that are woven into the market rooms. Concise and accessible, with no previous knowledge of finance or mathematics required, the aim of this book is simply to articulate the main ideas and put them into perspective, leading readers to a fresh understanding of this complex area.

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Is it really possible to make money on the financial markets? This is just one of the questions posed in this practical and thought-provoking book, winner in the original french version, of the "Best financial economics book” prize 1999 from the Institute de Haute Finance, and the "Prix FNAC-Arthur Anderson du meilleur livre d’entreprise 2000”. Starting with games of chance, from which probability theory was born, Nicolas Bouleau explains how the financial markets operate, and demonstrates how the application of mathematics has turned finance into a high-tech business, as well as a formidable and efficient tool. The human side of finance is also considered, with a look at the influence of the trader and the working relationships that are woven into the market rooms. Concise and accessible, with no previous knowledge of finance or mathematics required, the aim of this book is simply to articulate the main ideas and put them into perspective, leading readers to a fresh understanding of this complex area.

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Is it really possible to make money on the financial markets? This is just one of the questions posed in this practical and thought-provoking book, winner in the original french version, of the "Best financial economics book” prize 1999 from the Institute de Haute Finance, and the "Prix FNAC-Arthur Anderson du meilleur livre d’entreprise 2000”. Starting with games of chance, from which probability theory was born, Nicolas Bouleau explains how the financial markets operate, and demonstrates how the application of mathematics has turned finance into a high-tech business, as well as a formidable and efficient tool. The human side of finance is also considered, with a look at the influence of the trader and the working relationships that are woven into the market rooms. Concise and accessible, with no previous knowledge of finance or mathematics required, the aim of this book is simply to articulate the main ideas and put them into perspective, leading readers to a fresh understanding of this complex area.
Content:
Front Matter....Pages i-xv
Front Matter....Pages 1-1
Luck in the Casino....Pages 3-6
The Stock Market and Probability....Pages 7-12
Mathematical Development outside the Finance Sector....Pages 13-24
Front Matter....Pages 25-25
The Unexpected Connection....Pages 27-32
A Different Approach....Pages 33-37
Hedging Risks Thanks to the Market....Pages 39-43
Front Matter....Pages 45-45
A Complex Dynamic....Pages 47-50
Illusions of Chance....Pages 51-63
Three Types of Speculation....Pages 65-73
Practical and Moral Values....Pages 75-83
Front Matter....Pages 85-85
Markets and Economy....Pages 87-100
The Special Role of Finance in the Production of Knowledge....Pages 101-105
Power and Innocence in Finance....Pages 107-120
Long Term Risks....Pages 121-125
Back Matter....Pages 127-151

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Is it really possible to make money on the financial markets? This is just one of the questions posed in this practical and thought-provoking book, winner in the original french version, of the "Best financial economics book” prize 1999 from the Institute de Haute Finance, and the "Prix FNAC-Arthur Anderson du meilleur livre d’entreprise 2000”. Starting with games of chance, from which probability theory was born, Nicolas Bouleau explains how the financial markets operate, and demonstrates how the application of mathematics has turned finance into a high-tech business, as well as a formidable and efficient tool. The human side of finance is also considered, with a look at the influence of the trader and the working relationships that are woven into the market rooms. Concise and accessible, with no previous knowledge of finance or mathematics required, the aim of this book is simply to articulate the main ideas and put them into perspective, leading readers to a fresh understanding of this complex area.
Content:
Front Matter....Pages i-xv
Front Matter....Pages 1-1
Luck in the Casino....Pages 3-6
The Stock Market and Probability....Pages 7-12
Mathematical Development outside the Finance Sector....Pages 13-24
Front Matter....Pages 25-25
The Unexpected Connection....Pages 27-32
A Different Approach....Pages 33-37
Hedging Risks Thanks to the Market....Pages 39-43
Front Matter....Pages 45-45
A Complex Dynamic....Pages 47-50
Illusions of Chance....Pages 51-63
Three Types of Speculation....Pages 65-73
Practical and Moral Values....Pages 75-83
Front Matter....Pages 85-85
Markets and Economy....Pages 87-100
The Special Role of Finance in the Production of Knowledge....Pages 101-105
Power and Innocence in Finance....Pages 107-120
Long Term Risks....Pages 121-125
Back Matter....Pages 127-151
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