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Dynamic Hedging.

4.03  ·  Rating details ·  345 ratings  ·  12 reviews
Written by a leading options trader and derivatives risk advisor to global banks and exchanges, this book provides a practical, real-world methodology for monitoring and managing all the risks associated with portfolio management. Fills a big gap in investment literature -- the only book to share complex options trading strategies and advanced risk management methods with ...more
Hardcover, 528 pages
Published December 31st 1996 by John Wiley & Sons
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4.03  · 
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 ·  345 ratings  ·  12 reviews

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Sep 05, 2009 rated it did not like it
Shelves: non-fiction, finance
Do you remember reading The Divine Comedy and getting (finally) to the part where the two poets (apparently on an extended smoke break from their barista jobs in Brooklyn) get to the ninth circle of Hell only to think to yourself, "Brutus and Cassius? Really? I mean Judas I totally get, and these guys are distasteful and all, but the inner circle?" Well, your discombobulation is pardonable because, in fact, it was Dante who was confused. We may forgive Signor Alighieri for his error, for he was ...more
May 20, 2007 rated it it was amazing
This book will be of zero interest to anyone not involved in the securities trading industry and of small interest still to those not involved with derivatives. To those remaining, this is rightly regarded as essential reading. It is an entertaining combination of intuitive explanations, mathematical derivations, and war stories from the trading floor. Taleb's book is one of the best at teaching derivatives concepts by heuristics rather than pedagogy; while the latter is important, the former is ...more
Carl Yang
Dec 10, 2012 rated it it was amazing
Taleb is one arrogant dude who loves flooding his books with archaic words which were last employed in the English Language by Geoffrey Chauncer. But alas, Dynamic Hedging is a strong advanced text which goes through many nuanced topics. For example, he makes some good points on managing option greeks. Some chapters I really enjoyed which are hugely important in practice that you don't learn in any classroom: soft American options, discrete delta vs continuous delta, fungibility. Just a warning ...more
Dec 24, 2011 rated it it was ok
Shelves: unfiled
I read this book when I was still studying. At that time I found it interesting because some topics were discussed in a different way than other standard references (such as Options, Futures and Other Derivatives).

However, I opened this book again many years later, after I had been working as a practitioner on a trading floor for many years, and found most of it utter nonsense. In particular the paragraph about the risk manager enquiring about an infinite delta close to the expiration of a bina
Franco Arda
Sep 29, 2011 rated it it was amazing
Nassim in action -- one can't go wrong.
Feb 25, 2012 rated it it was ok
Recommends it for: Nobody
Recommended to Dmitri by: The Internet
Shelves: finance
This book is only interesting for the anecdote postings that Taleb makes - everything else is either ego inflation or wishy-washy nonsense that doesn't really feel like it's in any way connected to dynamic hedging, which is what this book is about. I know that, for some bizarre reason, this book became almost a 'classic' among option traders (why???), but I recommend anyone interested in hedging take the pragmatic approach and read books such as Option Volatility & Pricing: Advanced Trading ...more
Feb 24, 2010 rated it it was amazing
Not for the beginner but an excellent book. It shows you the actual mechanics of successful trading strategies and systems. You need a solid background in statistics before you attempt to tackle this book.
Shaun Pai
Jan 03, 2019 rated it really liked it
A bit challenging for a newbie, yet a must read to understand options.
Dec 31, 2018 rated it really liked it
Shelves: wall-street
high quality. makes you surprised at who the author chose to become. Best part is the trader wisdom. (traders don't often write books)
"Guys this is a very difficult book! But there comes a time where you have to overcome difficulties if you really want to learn. (Though I assure you: if you have not previously studied John C. Hull's book, it is hard to jump out already in the simplest things)"
May 02, 2016 rated it liked it
A long time read finally finished today, though it is more of an investment reference book than a read. Somewhat complex and not for the everyday investor.....
Frank Palardy
Aug 13, 2013 rated it really liked it
Shelves: business-finance
This is a good book on the subject. A little technical in parts.
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Nassim Nicholas Taleb spent 21 years as a risk taker (quantitative trader) before becoming a flaneur and researcher in philosophical, mathematical and (mostly) practical problems with probability.

Taleb is the author of a multivolume essay, the Incerto (The Black Swan, Fooled by Randomness, Antifragile, and Skin in the Game) an investigation of opacity, luck, uncertainty, probability, human error