Mathematics and Statistics for Financial Risk Management

The first edition of this work was clear, comprehensive, and up-to-date. The Second Edition is all that and includes important new material on Bayesian and classical methods. Extensive examples and problems make clear how these concepts are used in the world's top financial institutions. The book is perfect for self-study or classroom use.--Aaron Brown, author of Red-Blooded Risk, A World of Chance, and The Poker Face of Wall StreetMichael B. Miller provides a very accessible ride across the daunting waters of mathematics for quantitative risk management.--Attilio Meucci, founder, SYMMYSAt every turn, this book shows the relevance of mathematical and statistical concepts to risk management. They are no longer the desiccated notions found in most textbooks but assume a sense of vibrancy. So, if you're trying to hone your skills, this book is a great place to start.--Seeking AlphaA practical guide to modern financial risk management for both practitioners and academicsNow in its second edition, with more topics, more sample problems, and more real-world examples, this popular guide to financial risk management introduces readers to practical, quantitative techniques for analyzing and managing financial risk.This incisive resource:* Covers basic statistical concepts--from standard deviation and correlation to regression analysis and hypothesis testing* Explores widely used risk models, including value at risk, factor analysis, Monte Carlo simulation, and stress testing* Contains numerous sample problems and end-of-chapter exercises (with answers)* Includes a companion website with Excel examples and templates* Features two new chapters, which cover multivariate distributions, copulas, and Bayesian analysisMathematics and Statistics for Financial Risk Management is an indispensable reference for today's financial risk professional.