The Mathematics of Financial Models: Solving Real-World Problems with Quantitative Methods

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Praise for The Mathematics of Financial Models

“Dr. Kannoo Ravindran does a great job in using applied quantitative methods to solve financial problems encountered in practice while discussing the practical nuances associated with the problem. The book explains the concept intuitively so it is very easy for readers to ‘get it.’ This book is a must-read for anyone new to mathematical modeling in finance and serves as a great complement to any good book on finance and derivatives.”
—Dr. Pin Chung, FRM, ASA, MAAA, Chief Financial Officer and Chief Investment Officer, R+V International Business Services Limited, Dublin, Ireland

“This is a unique work that provides easy-to-follow practical solutions in addition to the underlying theory for solving problems using quantitative methods. A must read for the new practitioner and a great refresher for the experienced practitioner.”
—Kirk Evans, FSA, MAAA, CFA, FRM, Vice President, Product Development & Pricing and Risk Management, Sammons Retirement Solutions

“The actuary or financial quant entering variable annuity risk management faces a bewildering array of new terminology, concepts, and practices. Dr. Ravindran’s book provides a comprehensive but compact introduction for new practitioners—including clear spreadsheet models for building intuition and practical bench marking.”
—Daniel D. Heyer, FCAS, CQF, Vice President, Quantitative Risk Management, Nationwide Financial

“This book and the accompanying Excel worksheets are a valuable resource for quants and would-be quants.”
—John Hull, Maple Financial Chair in Derivatives and Risk Management, Joseph L. Rotman School of Management, University of Toronto

“Dr. Kannoo Ravindran’s book is a welcomed addition to a student’s or practitioner’s library alike, given the range of topics it covers, the accompanying spreadsheet examples, and all the solid references that can be found at the end of each chapter. The author has done a great job of covering the diverse subject matter, like the chapter on financial guarantees embedded in life insurance products, and the one on hedge strategy effectiveness, and leaving readers with a set of building blocks to help them tackle real risk management problems they would face in the field.”
—Peter M. Phillips, Managing Director, Aon Benfield Securities, Inc.

“Dr. Ravindran has written a valuable book that bridges the all-too-wide gap between theory and practice in mathematical finance. It is useful and should be required reading for students in quantitative finance programs, and yet is immediately accessible to many who work in the field, from front-office users to risk managers, modelers, programmers, and operations staff.”
—Paul Staneski, Ph.D., Principal, Derivatives Solutions, LLC