Probability And Statistics For Finance

The recent upheaval of the global financial system has enhanced the need for improved statistical tools for financial modeling and analysis. To fill that need, expert authors Svetlozar Rachev, Markus Hochstotter, Frank Fabozzi, and Sergio Focardi have written Probability and Statistics for Finance.

Filled with in-depth insights and practical advice, this book guides readers from the basic elements of probability and statistics to the most advanced topics. Along the way, it covers everything from the application of probability to portfolio managment, asset pricing, risk management, and credit risk modeling to probability distributions that deal with extreme events and statistical measures.

Written with financial professionals, academics, and aspiring students in mind, Probability and statistics for Finance has what you need to stay current and succed in this fast-moving field.

In order to remain competitive in the intensely quantitative field of finance, you need a firm understanding of the foundations of finance: probability and statistics. Expert authors Svetlozar (Zari) Rachev, Markus Hochstotter, Frank Fabozzi, and Sergio Focardi have written Probability and Statistics for Finance for that reason.

Engaging and informative, this reliable guide not only covers introductory material on probability and statistics for students and practitioners, but also provides unique coverage of specific topics that are of special interest to finance professionals, researchers, and academics.

To provide readers with a complete understanding of the various topics touched upon throughout, the book includes appendices that cover the fundamentals of functions and their features, matrix operations, and binomial and multinomial coefficients.

Written for both financial professionals and individuals aspiring to enter this field, Probability and Statistics for Finance addresses an array of important issues---from applying probability to portfolio management, asset pricing, risk management, and credit risk modeling to probability distributions that deal with extreme events and statistical measures. With this book, discover how probability and statics can help you effectively navigate even the most complex financial terrrain.

Svetlozar T. Rachev, Phd, DSc, is chair Professor at the University of Karlsruhe in the School of Economics and Business Engineering, and Professor Emeritus at the University of California, Santa Barbara, in the Department of Statistics and Applied Probability. He was cofounder of Bravo Risk Management Group, acquired by FinAnalytica, where he currently serves as Chief Scientist.
Markus Hochstotter, PHD, is an Assistant Professor in the Department of Econometrics and Statistics, University of Karlsruhe.
Frank J. Fabozzi, PHD, CFA, CPA, is Professor in the Practice of Finance and Becton Fellow at the Yale School of Management and Editor of the Journal of Portfolio Management. He is an Affiliated Professor at the University of Karlsruhe's Institute of Statistics, Econometrics and Mathematical Finance, and is on the Advisory Council for the Department of Operations Research and Financial Engineering at Princeton University.
Sergio M. Focardi, PHD, is a Professor of Finance at EDHEC Business School and founding partner of the Paris-based consulting firm Intertek Group plc.