by Simon Benninga
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Product Description
Too often, finance courses stop short of making a connection between textbook finance and the problems of real-world business. Financial Modeling bridges this gap between theory and practice by providing a nuts-and-bolts guide to solving common financial models with spreadsheets. Simon Benninga takes the reader step by step through each model, showing how it can be solved using Microsoft Excel®. In this sense, this is a finance "cookbook," providing recipes with lists of ingredients and instructions.
Areas covered include computation of corporate finance problems, standard portfolio problems, option pricing and applications, and duration and immunization. The second edition contains six new chapters covering financial calculations, cost of capital, value at risk (VaR), real options, early exercise boundaries, and term structure modeling. A new technical chapter contains a potpourri of tips for using Excel®.
Although the reader should know enough about Excel™ to set up a simple spreadsheet, the author explains advanced Excel® techniques used in the book. The book includes chapters dealing with random number generation, data tables, matrix manipulation, and VBA programming. It also comes with a CD-ROM containing Excel® worksheets and solutions to end-of-chapter exercises.
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Average Customer Review:
0 of 0 people found the following review helpful:
 Great addition to the Toolbox..., 2007-11-01
Beninnga's modeling book is a superior product for its intended audience: beginning to intermediate Excel users. I just used for one of my graduate courses in Finance at Florida International University, and it was spot on for what we needed. I knew exactly what to do on a financial calculator but not how to set those applications up in Excel. Beninnga's chapters cover many of the applications you'll see out there in the real-world. As a added bonus, he includes the CD, so you'll have the exact spreadsheets he uses in the chapters. Keep in mind that being able to read those actual commands/text in the cells give you all the necessary building blocks to enhance your knowledge. No matter what any textbook teaches, you still need your own "intellectual horsepower" and financial acumen to make Excel spreadsheets. To his credit, Beninnga has openly stepped up and posted an errata sheet for the known errors and you'll need to download those. Taken on whole, I salute Benninga for being the pioneer in bringing Finance to Excel applications and I'm eagerly awaiting his 3rd edition. If you're a Finance guy looking to learn finance in Excel, then this a "5-star" gotta have!
0 of 0 people found the following review helpful:
 Did someone mention the errors yet?, 2007-10-30
It's kind of a drag, especially for a book of this type, that there are so many errors in both the text AND in the provided source code. Some of the code has clearly never been tested as published, since it actually doesn't run. Uninitialized variables, incorrect derivation of (calculus) derivatives, function names used as variables within the same function (causes infinite recursion crash on some systems), etc., etc., etc. All of these errors that I found in a single chapter have not been published in the book's extensive errata, so presumably have not been found yet. If something doesn't check out in this book, don't blame yourself, check another reference to verify the correct calculation method.
0 of 0 people found the following review helpful:
Excelent book, 2007-09-24
Is an excelent book to learn and undertand how to creat financial models in excel.
I strongly recomend it.
Romer iragorri
0 of 0 people found the following review helpful:
I thought I did a review for this book immediately when I received it! It was really good! It's like the best textbook!, 2007-09-16
Beninnga states things very clearly.
And the sophistication is great.
No matter what level you are in, it's good for you.
And these knowledge are really useful in real world!
I mean,I'm really gonna keep this book for myself after I finish the degree.
2 of 2 people found the following review helpful:
Strongly recommended to practitioner, 2007-09-03
The book has great practical value. It also applies to those who wish to implement financial models in other computing environment than Excel.
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