Review of Handbook of Asset and Liability Management, Volume 2: Applications and Case Studies (Hardcover)

I am new to the ALM field and that was the first book i started reading. The book is not a how to do one, it does not have a theorem-proof approach nor does it tell how to implement stochastic programming or teach you how to do so. This is as it says a handbook, it presents the field, the models, the problems, the tools and the open questions. Now if you want to start solving your ALM model, then you go somewhere else that is the details on how to discretize continuous processes, build scenarios, setup a stochastic program in a programming environment you find papers or ask people. In general ALM is a very obscure field where there is no book that collectively tells how to start from scratch like in financial derivatives (you start from measures, go to stoch calculus, finally instruments). Until the time for that book, this will be the main reference on the field



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Review of Handbook of the Economics of Finance: Corporate Finance Volume 1A (Hardcover)

It is a pretty good up-to-date summary of financial economics, with a focus on corporate finance.

But, ..., a big BUT, it is an overpriced book. Why? only 500 some pages. You may argue the intelectual content is worth a lot. My answer: Yes.

You then ask: then why shouldn't we compensate the authors?
My answer: hehehe, they are not the original authors. They are EDITORS, who collect the excerpts from other papers. They did us a favor by systematically (and perhaps subjectively) collating a volume so we dont have to go to the library to collect pieces.

Therefore, I think it is a good, useful book, but overpriced...



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