Comprehensive, 30 Sep 2008
I just read the book - cover to cover. It is very comprehensive and readable however I have a few gripes:

1. It reads like a book that has "evolved" and is somewhat "lumpy". Some bits are bang up-to-date - others are not; some bits are international some are very US domestic focussed; some bits are amazingly simple (does anyone not know what a direct debit is?) others are highly complex (efficient frontiers and linear programming).

2. The authors should acknowledge that not all CFOs are female and to use "she" in place of "he" whenever they refer to senior decision-makers in fictional companies is both unnecessary and patronising. Feminists will tell you, you've got this wrong - you could easily have used more neutral language (instead of he or she use "they" for example).

3. "Forecasted" is a very clumsy word (on almost every page) - doesn't everyone just say "forecast"?

4. Text refers to "blue lines" on the graphs which are always "black lines" - by the 9th edition you'd think you could have sorted that out!

More technically specific gripes:
1. I believe there are occasions when it makes sense to exercise American options early if you can't short the stock (eg US government has just banned short selling in financial stocks).
2. p649 high yield spreads declined as investors "scurried to the safe haven of high-quality debt" - forgive me but I for one can't work that out!
3. p 788 IOSC is the wrong acronmy for IOSCO (typo?).
4. Swaps are poorly explained. They derived from the arbitrages between international bond markets - which explains how they are structured.
5. The book refers only to the interest calculation basis of actual/360 which is only used in US. It is confusing to only mention this basis and not go on to refer to 30/360 (bond basis) or actual/365 as used in most international markets. In fact, there is a whole section on cash amangement that needs to be reviewed, in my opinion, to make it international and fit with the rest of the book.

Overall, I think it is a good textbook and sound primer - but someone needs a re-edit to freshen it up. The good news is that the Credit Cruch provides that opportunity to take a fresh look at the whole thing and highlight liquidity issues!

Comprehensive, 30 Sep 2008
I just read the book - cover to cover. It is very comprehensive and readable however I have a few gripes:

1. It reads like a book that has "evolved" and is somewhat "lumpy". Some bits are bang up-to-date - others are not; some bits are international some are very US domestic focussed; some bits are amazingly simple (does anyone not know what a direct debit is?) others are highly complex (efficient frontiers and linear programming).

2. The authors should acknowledge that not all CFOs are female and to use "she" in place of "he" whenever they refer to senior decision-makers in fictional companies is both unnecessary and patronising. Feminists will tell you, you've got this wrong - you could easily have used more neutral language (instead of he or she use "they" for example).

3. "Forecasted" is a very clumsy word (on almost every page) - doesn't everyone just say "forecast"?

4. Text refers to "blue lines" on the graphs which are always "black lines" - by the 9th edition you'd think you could have sorted that out!

More technically specific gripes:
1. I believe there are occasions when it makes sense to exercise American options early if you can't short the stock (eg US government has just banned short selling in financial stocks).
2. p649 high yield spreads declined as investors "scurried to the safe haven of high-quality debt" - forgive me but I for one can't work that out!
3. p 788 IOSC is the wrong acronmy for IOSCO (typo?).
4. Swaps are poorly explained. They derived from the arbitrages between international bond markets - which explains how they are structured.
5. The book refers only to the interest calculation basis of actual/360 which is only used in US. It is confusing to only mention this basis and not go on to refer to 30/360 (bond basis) or actual/365 as used in most international markets. In fact, there is a whole section on cash amangement that needs to be reviewed, in my opinion, to make it international and fit with the rest of the book.

Overall, I think it is a good textbook and sound primer - but someone needs a re-edit to freshen it up. The good news is that the Credit Cruch provides that opportunity to take a fresh look at the whole thing and highlight liquidity issues!

Excellent introduction with enough detail for the lay person, 23 Sep 2008
I found this book after searching long and hard for some information about financial instruments in general. Having heard some of the terms described in the book, I was at a loss to know what the heck they were used for. For example SWAPS and Repos where terms I had heard in the financial media but had no idea why they would be used. This book answered my questions and more. It also placed the financial markets into a global context, as the markets are truely world-wide. Thankfully, for me anyway, there are no complex formulae or mathematical terms in the book. It is an "Introduction", therefore high level. Having said that, it still takes some time to put the pieces together, but that is not the fault of the author. Financial markets are complex and hence difficult to understand. In my opinion this book is the best available if you require a high-level, not too detailed, Introduction to Global Financial Markets.

At Last ! A book that has it all for finance newbies, 03 Feb 2008
A FANTASTIC book for all newcomers to finance and a briliant refresher for commercial and investment bankers who need to get a bird eye's view of the markets. How do markets inter-relate? What is the history behind the players, the products and the regulators? Stephen Valdez' years of experience as a financial markets trainer are distilled into a jargon-free guidebook. This book should be recommended reading for all new banking graduate trainees. And anyone selling to the "city" or working in a support role eg: Audit, Regulation, Compliance, Risk, Middle Office, Back Office, Law, HR, Sales/Marketing, Public/Investor Relations etc. Get it ! It's worth every cent.

The best book on finance I've ever read, 27 Sep 2007
This is the best book on finance I've ever read. It's a comprehensive introduction to financial markets written in simple language. BUY IT.

A good readable intro, 20 Feb 2007
This is a great grounding in global markets & written in a plain., straightforward style. I've got this new (5th) edition which has good - broad, but interesting - coverage of Chinese and Indian markets. And the further reading at the back gives good links to books on more specific ares.

Good job, well done., 30 May 2006
The book is an Introduction - a very useful one, which outlines in reasonable detail all the areas of the financial world you are likely to need to know about.

For a beginner, i.e. someone looking to study the industry, or someone looking to make a career in the industry (like me), the book is excellent because the writing is clear and the content jolly interesting!

No, it is NOT a comprehensive guide to risk management, to valuation, or to derivatives trading, or whatever else you hoped it would be. But it IS the place to start - if you happen to have half a brain, you will know after reading it which book(s) to buy next!

Comprehensive, 30 Sep 2008
I just read the book - cover to cover. It is very comprehensive and readable however I have a few gripes:

1. It reads like a book that has "evolved" and is somewhat "lumpy". Some bits are bang up-to-date - others are not; some bits are international some are very US domestic focussed; some bits are amazingly simple (does anyone not know what a direct debit is?) others are highly complex (efficient frontiers and linear programming).

2. The authors should acknowledge that not all CFOs are female and to use "she" in place of "he" whenever they refer to senior decision-makers in fictional companies is both unnecessary and patronising. Feminists will tell you, you've got this wrong - you could easily have used more neutral language (instead of he or she use "they" for example).

3. "Forecasted" is a very clumsy word (on almost every page) - doesn't everyone just say "forecast"?

4. Text refers to "blue lines" on the graphs which are always "black lines" - by the 9th edition you'd think you could have sorted that out!

More technically specific gripes:
1. I believe there are occasions when it makes sense to exercise American options early if you can't short the stock (eg US government has just banned short selling in financial stocks).
2. p649 high yield spreads declined as investors "scurried to the safe haven of high-quality debt" - forgive me but I for one can't work that out!
3. p 788 IOSC is the wrong acronmy for IOSCO (typo?).
4. Swaps are poorly explained. They derived from the arbitrages between international bond markets - which explains how they are structured.
5. The book refers only to the interest calculation basis of actual/360 which is only used in US. It is confusing to only mention this basis and not go on to refer to 30/360 (bond basis) or actual/365 as used in most international markets. In fact, there is a whole section on cash amangement that needs to be reviewed, in my opinion, to make it international and fit with the rest of the book.

Overall, I think it is a good textbook and sound primer - but someone needs a re-edit to freshen it up. The good news is that the Credit Cruch provides that opportunity to take a fresh look at the whole thing and highlight liquidity issues!

Excellent introduction with enough detail for the lay person, 23 Sep 2008
I found this book after searching long and hard for some information about financial instruments in general. Having heard some of the terms described in the book, I was at a loss to know what the heck they were used for. For example SWAPS and Repos where terms I had heard in the financial media but had no idea why they would be used. This book answered my questions and more. It also placed the financial markets into a global context, as the markets are truely world-wide. Thankfully, for me anyway, there are no complex formulae or mathematical terms in the book. It is an "Introduction", therefore high level. Having said that, it still takes some time to put the pieces together, but that is not the fault of the author. Financial markets are complex and hence difficult to understand. In my opinion this book is the best available if you require a high-level, not too detailed, Introduction to Global Financial Markets.

At Last ! A book that has it all for finance newbies, 03 Feb 2008
A FANTASTIC book for all newcomers to finance and a briliant refresher for commercial and investment bankers who need to get a bird eye's view of the markets. How do markets inter-relate? What is the history behind the players, the products and the regulators? Stephen Valdez' years of experience as a financial markets trainer are distilled into a jargon-free guidebook. This book should be recommended reading for all new banking graduate trainees. And anyone selling to the "city" or working in a support role eg: Audit, Regulation, Compliance, Risk, Middle Office, Back Office, Law, HR, Sales/Marketing, Public/Investor Relations etc. Get it ! It's worth every cent.

The best book on finance I've ever read, 27 Sep 2007
This is the best book on finance I've ever read. It's a comprehensive introduction to financial markets written in simple language. BUY IT.

A good readable intro, 20 Feb 2007
This is a great grounding in global markets & written in a plain., straightforward style. I've got this new (5th) edition which has good - broad, but interesting - coverage of Chinese and Indian markets. And the further reading at the back gives good links to books on more specific ares.

Good job, well done., 30 May 2006
The book is an Introduction - a very useful one, which outlines in reasonable detail all the areas of the financial world you are likely to need to know about.

For a beginner, i.e. someone looking to study the industry, or someone looking to make a career in the industry (like me), the book is excellent because the writing is clear and the content jolly interesting!

No, it is NOT a comprehensive guide to risk management, to valuation, or to derivatives trading, or whatever else you hoped it would be. But it IS the place to start - if you happen to have half a brain, you will know after reading it which book(s) to buy next!


A good intermediate finance book, 20 Nov 2003
Although a little long-winded in places, this is a good reference book for anyone wanting a slightly more than basic understanding of various corporate finance concepts, talking about derivatives, hedges, ratios etc. It was certainly useful to me obtaining an A in a module in it at university!

Making corporate finance understandable!, 20 Jul 2000
Economics and finance are not the easiest subjects to understand (well not for me anyway! ). Having looked at all the US finance texts, most of which ressemble the London phone book, it was a relief to find a book that explains the principles of finance in an easy to understand fashion and that gradually introduces you to the more advanced topics. The chapters flow in a logical manner and I found myself almost enjoying studying finance! Finding a book that balances readability and depth is often hard but this book does.

Comprehensive, 30 Sep 2008
I just read the book - cover to cover. It is very comprehensive and readable however I have a few gripes:

1. It reads like a book that has "evolved" and is somewhat "lumpy". Some bits are bang up-to-date - others are not; some bits are international some are very US domestic focussed; some bits are amazingly simple (does anyone not know what a direct debit is?) others are highly complex (efficient frontiers and linear programming).

2. The authors should acknowledge that not all CFOs are female and to use "she" in place of "he" whenever they refer to senior decision-makers in fictional companies is both unnecessary and patronising. Feminists will tell you, you've got this wrong - you could easily have used more neutral language (instead of he or she use "they" for example).

3. "Forecasted" is a very clumsy word (on almost every page) - doesn't everyone just say "forecast"?

4. Text refers to "blue lines" on the graphs which are always "black lines" - by the 9th edition you'd think you could have sorted that out!

More technically specific gripes:
1. I believe there are occasions when it makes sense to exercise American options early if you can't short the stock (eg US government has just banned short selling in financial stocks).
2. p649 high yield spreads declined as investors "scurried to the safe haven of high-quality debt" - forgive me but I for one can't work that out!
3. p 788 IOSC is the wrong acronmy for IOSCO (typo?).
4. Swaps are poorly explained. They derived from the arbitrages between international bond markets - which explains how they are structured.
5. The book refers only to the interest calculation basis of actual/360 which is only used in US. It is confusing to only mention this basis and not go on to refer to 30/360 (bond basis) or actual/365 as used in most international markets. In fact, there is a whole section on cash amangement that needs to be reviewed, in my opinion, to make it international and fit with the rest of the book.

Overall, I think it is a good textbook and sound primer - but someone needs a re-edit to freshen it up. The good news is that the Credit Cruch provides that opportunity to take a fresh look at the whole thing and highlight liquidity issues!

Excellent introduction with enough detail for the lay person, 23 Sep 2008
I found this book after searching long and hard for some information about financial instruments in general. Having heard some of the terms described in the book, I was at a loss to know what the heck they were used for. For example SWAPS and Repos where terms I had heard in the financial media but had no idea why they would be used. This book answered my questions and more. It also placed the financial markets into a global context, as the markets are truely world-wide. Thankfully, for me anyway, there are no complex formulae or mathematical terms in the book. It is an "Introduction", therefore high level. Having said that, it still takes some time to put the pieces together, but that is not the fault of the author. Financial markets are complex and hence difficult to understand. In my opinion this book is the best available if you require a high-level, not too detailed, Introduction to Global Financial Markets.

At Last ! A book that has it all for finance newbies, 03 Feb 2008
A FANTASTIC book for all newcomers to finance and a briliant refresher for commercial and investment bankers who need to get a bird eye's view of the markets. How do markets inter-relate? What is the history behind the players, the products and the regulators? Stephen Valdez' years of experience as a financial markets trainer are distilled into a jargon-free guidebook. This book should be recommended reading for all new banking graduate trainees. And anyone selling to the "city" or working in a support role eg: Audit, Regulation, Compliance, Risk, Middle Office, Back Office, Law, HR, Sales/Marketing, Public/Investor Relations etc. Get it ! It's worth every cent.

The best book on finance I've ever read, 27 Sep 2007
This is the best book on finance I've ever read. It's a comprehensive introduction to financial markets written in simple language. BUY IT.

A good readable intro, 20 Feb 2007
This is a great grounding in global markets & written in a plain., straightforward style. I've got this new (5th) edition which has good - broad, but interesting - coverage of Chinese and Indian markets. And the further reading at the back gives good links to books on more specific ares.

Good job, well done., 30 May 2006
The book is an Introduction - a very useful one, which outlines in reasonable detail all the areas of the financial world you are likely to need to know about.

For a beginner, i.e. someone looking to study the industry, or someone looking to make a career in the industry (like me), the book is excellent because the writing is clear and the content jolly interesting!

No, it is NOT a comprehensive guide to risk management, to valuation, or to derivatives trading, or whatever else you hoped it would be. But it IS the place to start - if you happen to have half a brain, you will know after reading it which book(s) to buy next!


A good intermediate finance book, 20 Nov 2003
Although a little long-winded in places, this is a good reference book for anyone wanting a slightly more than basic understanding of various corporate finance concepts, talking about derivatives, hedges, ratios etc. It was certainly useful to me obtaining an A in a module in it at university!

Making corporate finance understandable!, 20 Jul 2000
Economics and finance are not the easiest subjects to understand (well not for me anyway! ). Having looked at all the US finance texts, most of which ressemble the London phone book, it was a relief to find a book that explains the principles of finance in an easy to understand fashion and that gradually introduces you to the more advanced topics. The chapters flow in a logical manner and I found myself almost enjoying studying finance! Finding a book that balances readability and depth is often hard but this book does.

Highly Recommended!!, 26 Aug 2008
Having contemplated buying this book i can safely say it is definately an invaluable book whether your already working in the financial industry, an undergraduate (such as myself) or just have an interest in understanding the murky world that it the city.

Chapters focus on specific FT articles with detailed analysis to decipher technical jargon and key terms. For myself the best feature of the book is the fact that the author Kevin Boakes provides an insider's view and self-review questions which provides the opportunity for self-study and a crucial book for reference ahead of lectures and exams.

Finally there are Boakes provides web-based activities and online web content to support the publication as well as downloadable podcasts, which is a welcomed changed for students who wish to use a variety of web-based and other media rather than be restricted to to written texts

If your hestitating aobut buying this book dont, its a must have if your considering a career in finance or business related area.

Understand financial jargon!, 14 Mar 2008
If you have ever opened up the financial times and felt overwhelmed by all the jargon then this book is for you. This book will give you a short introduction to a number of major topics in the financial world, such as mergers and acquisitions and private equity. In the process of giving you this quick introduction the author will also equip you with all the tools you need to do further reading on that topic. This is done by explaining all the relevant jargon and referring you to other resources which will further expand your understanding.

The book is split up into a number of bite size chapters, none of which take more than an hour to read. Each chapter begins with a couple of articles on a given topic, taken directly from the financial times. Following this the author "translates" this text into plain English, explaining and defining all the relevant jargon in the process. At the end of each chapter a number of textbook style questions and practical exercises are provided, along with a list of further reading. Links to the author's excellent podcast are also provided.

This book is useful not only to those wishing to quickly learn how to read and understand the financial times (as the title suggests), but also to those looking for a concise introduction to the workings of the financial world. Knowledge gleaned from reading this book would also prove very useful to students applying for jobs in the city.



Excellent book!, 13 Mar 2008
This book played an instrumental role in landing me various placements at international law firms. As a law student my exposure to the business and commercial world was not extensive enough to cater for the "commercial awareness" demands of corporate law firms, but this book helped me grasp the key concepts of business and finance and be able to talk about them. The use of real-life articles and frequent examples demonstrating the key ideas is really helpful when applying the ideas to new situations, as was required in the interviews. The books is also very easy to read, maintaining the reader's interest unlike some of the more heavy-going textbooks in this area. I would definitely recommend this book to anyone who needs to learn about the corporate world, the interplay between the different professional sectors (for example business and law) or even those who wish to develop their understanding of business. Fantastic!

Broaden your understanding of the Finance World, 03 Mar 2008
As a BA Accounting and Finance student, this book is amazing and has helped me revise for my finance module with much ease. This book is ideal for any student who is currently studying Finance, someone who works in Finance, or someone who is just new to the FT. It has articles which relate to each topic helping you understand the topic better. Also a great way to revise as the examples trigger the memory! After each article Kevin has analysed the article giving you a broader understanding of the article. All the FT terms that are important are then defined. Again, easier to memorise in exams as you can associate each definition with the article this also allows you to provide examples in the exam, increasing your chance of a better mark. The book also contains questions and involves loads of different resources for additional learning such as web, books, FT and podcasts. I personally enjoy the podcasts, and think it's a great tool for revising, it's like having a lecturer in front of you, also you can listen to the podcast anywhere. Kevin has created a podcast for each topic, so it's a great way to recap the topic. It also has a glossary, so its like carrying a small dictionary, as it provides a quick reference to all definitions, which is ideal when reading through the FT.

The book overall is a great way for learning, it uses various different ways to broaden your understanding of the Finance world whilst being concise and most importantly easy to carry!

Comprehensive, 30 Sep 2008
I just read the book - cover to cover. It is very comprehensive and readable however I have a few gripes:

1. It reads like a book that has "evolved" and is somewhat "lumpy". Some bits are bang up-to-date - others are not; some bits are international some are very US domestic focussed; some bits are amazingly simple (does anyone not know what a direct debit is?) others are highly complex (efficient frontiers and linear programming).

2. The authors should acknowledge that not all CFOs are female and to use "she" in place of "he" whenever they refer to senior decision-makers in fictional companies is both unnecessary and patronising. Feminists will tell you, you've got this wrong - you could easily have used more neutral language (instead of he or she use "they" for example).

3. "Forecasted" is a very clumsy word (on almost every page) - doesn't everyone just say "forecast"?

4. Text refers to "blue lines" on the graphs which are always "black lines" - by the 9th edition you'd think you could have sorted that out!

More technically specific gripes:
1. I believe there are occasions when it makes sense to exercise American options early if you can't short the stock (eg US government has just banned short selling in financial stocks).
2. p649 high yield spreads declined as investors "scurried to the safe haven of high-quality debt" - forgive me but I for one can't work that out!
3. p 788 IOSC is the wrong acronmy for IOSCO (typo?).
4. Swaps are poorly explained. They derived from the arbitrages between international bond markets - which explains how they are structured.
5. The book refers only to the interest calculation basis of actual/360 which is only used in US. It is confusing to only mention this basis and not go on to refer to 30/360 (bond basis) or actual/365 as used in most international markets. In fact, there is a whole section on cash amangement that needs to be reviewed, in my opinion, to make it international and fit with the rest of the book.

Overall, I think it is a good textbook and sound primer - but someone needs a re-edit to freshen it up. The good news is that the Credit Cruch provides that opportunity to take a fresh look at the whole thing and highlight liquidity issues!

Excellent introduction with enough detail for the lay person, 23 Sep 2008
I found this book after searching long and hard for some information about financial instruments in general. Having heard some of the terms described in the book, I was at a loss to know what the heck they were used for. For example SWAPS and Repos where terms I had heard in the financial media but had no idea why they would be used. This book answered my questions and more. It also placed the financial markets into a global context, as the markets are truely world-wide. Thankfully, for me anyway, there are no complex formulae or mathematical terms in the book. It is an "Introduction", therefore high level. Having said that, it still takes some time to put the pieces together, but that is not the fault of the author. Financial markets are complex and hence difficult to understand. In my opinion this book is the best available if you require a high-level, not too detailed, Introduction to Global Financial Markets.

At Last ! A book that has it all for finance newbies, 03 Feb 2008
A FANTASTIC book for all newcomers to finance and a briliant refresher for commercial and investment bankers who need to get a bird eye's view of the markets. How do markets inter-relate? What is the history behind the players, the products and the regulators? Stephen Valdez' years of experience as a financial markets trainer are distilled into a jargon-free guidebook. This book should be recommended reading for all new banking graduate trainees. And anyone selling to the "city" or working in a support role eg: Audit, Regulation, Compliance, Risk, Middle Office, Back Office, Law, HR, Sales/Marketing, Public/Investor Relations etc. Get it ! It's worth every cent.

The best book on finance I've ever read, 27 Sep 2007
This is the best book on finance I've ever read. It's a comprehensive introduction to financial markets written in simple language. BUY IT.

A good readable intro, 20 Feb 2007
This is a great grounding in global markets & written in a plain., straightforward style. I've got this new (5th) edition which has good - broad, but interesting - coverage of Chinese and Indian markets. And the further reading at the back gives good links to books on more specific ares.

Good job, well done., 30 May 2006
The book is an Introduction - a very useful one, which outlines in reasonable detail all the areas of the financial world you are likely to need to know about.

For a beginner, i.e. someone looking to study the industry, or someone looking to make a career in the industry (like me), the book is excellent because the writing is clear and the content jolly interesting!

No, it is NOT a comprehensive guide to risk management, to valuation, or to derivatives trading, or whatever else you hoped it would be. But it IS the place to start - if you happen to have half a brain, you will know after reading it which book(s) to buy next!


A good intermediate finance book, 20 Nov 2003
Although a little long-winded in places, this is a good reference book for anyone wanting a slightly more than basic understanding of various corporate finance concepts, talking about derivatives, hedges, ratios etc. It was certainly useful to me obtaining an A in a module in it at university!

Making corporate finance understandable!, 20 Jul 2000
Economics and finance are not the easiest subjects to understand (well not for me anyway! ). Having looked at all the US finance texts, most of which ressemble the London phone book, it was a relief to find a book that explains the principles of finance in an easy to understand fashion and that gradually introduces you to the more advanced topics. The chapters flow in a logical manner and I found myself almost enjoying studying finance! Finding a book that balances readability and depth is often hard but this book does.

Highly Recommended!!, 26 Aug 2008
Having contemplated buying this book i can safely say it is definately an invaluable book whether your already working in the financial industry, an undergraduate (such as myself) or just have an interest in understanding the murky world that it the city.

Chapters focus on specific FT articles with detailed analysis to decipher technical jargon and key terms. For myself the best feature of the book is the fact that the author Kevin Boakes provides an insider's view and self-review questions which provides the opportunity for self-study and a crucial book for reference ahead of lectures and exams.

Finally there are Boakes provides web-based activities and online web content to support the publication as well as downloadable podcasts, which is a welcomed changed for students who wish to use a variety of web-based and other media rather than be restricted to to written texts

If your hestitating aobut buying this book dont, its a must have if your considering a career in finance or business related area.

Understand financial jargon!, 14 Mar 2008
If you have ever opened up the financial times and felt overwhelmed by all the jargon then this book is for you. This book will give you a short introduction to a number of major topics in the financial world, such as mergers and acquisitions and private equity. In the process of giving you this quick introduction the author will also equip you with all the tools you need to do further reading on that topic. This is done by explaining all the relevant jargon and referring you to other resources which will further expand your understanding.

The book is split up into a number of bite size chapters, none of which take more than an hour to read. Each chapter begins with a couple of articles on a given topic, taken directly from the financial times. Following this the author "translates" this text into plain English, explaining and defining all the relevant jargon in the process. At the end of each chapter a number of textbook style questions and practical exercises are provided, along with a list of further reading. Links to the author's excellent podcast are also provided.

This book is useful not only to those wishing to quickly learn how to read and understand the financial times (as the title suggests), but also to those looking for a concise introduction to the workings of the financial world. Knowledge gleaned from reading this book would also prove very useful to students applying for jobs in the city.



Excellent book!, 13 Mar 2008
This book played an instrumental role in landing me various placements at international law firms. As a law student my exposure to the business and commercial world was not extensive enough to cater for the "commercial awareness" demands of corporate law firms, but this book helped me grasp the key concepts of business and finance and be able to talk about them. The use of real-life articles and frequent examples demonstrating the key ideas is really helpful when applying the ideas to new situations, as was required in the interviews. The books is also very easy to read, maintaining the reader's interest unlike some of the more heavy-going textbooks in this area. I would definitely recommend this book to anyone who needs to learn about the corporate world, the interplay between the different professional sectors (for example business and law) or even those who wish to develop their understanding of business. Fantastic!

Broaden your understanding of the Finance World, 03 Mar 2008
As a BA Accounting and Finance student, this book is amazing and has helped me revise for my finance module with much ease. This book is ideal for any student who is currently studying Finance, someone who works in Finance, or someone who is just new to the FT. It has articles which relate to each topic helping you understand the topic better. Also a great way to revise as the examples trigger the memory! After each article Kevin has analysed the article giving you a broader understanding of the article. All the FT terms that are important are then defined. Again, easier to memorise in exams as you can associate each definition with the article this also allows you to provide examples in the exam, increasing your chance of a better mark. The book also contains questions and involves loads of different resources for additional learning such as web, books, FT and podcasts. I personally enjoy the podcasts, and think it's a great tool for revising, it's like having a lecturer in front of you, also you can listen to the podcast anywhere. Kevin has created a podcast for each topic, so it's a great way to recap the topic. It also has a glossary, so its like carrying a small dictionary, as it provides a quick reference to all definitions, which is ideal when reading through the FT.

The book overall is a great way for learning, it uses various different ways to broaden your understanding of the Finance world whilst being concise and most importantly easy to carry!

A corporate finance refesher cource (in a book)!!, 22 Sep 2007
I purchased this edition together with Day's other book "Mastering Financial Modelling" recently on a trip to London. I was really looking for an Excel modelling book that had a bent on many of the common problems encountered in everyday corporate finance. These two books answered my brief very well.

For this book, the focus is on the various different theories of corporate finance and applied within a standardised Excel modelling framework. The theorectical detail is light, as the book assumes a certain level of academic training, so as to show the reader how such problems can be structured and modified with layers of complexity as needed. In addition to corporate finance principles, the book summarises the key elements of statistics that are used in most financial evalutaions.

The book is marred by some sloppy editing, spelling mistakes and gramatical errors (most unlike his other books). To me the key advantage of the book is how the author highlights and emphasises the sheer power and potential of Excel. As a result my modelling capabilities just reached a whole new level!

Comprehensive, 30 Sep 2008
I just read the book - cover to cover. It is very comprehensive and readable however I have a few gripes:

1. It reads like a book that has "evolved" and is somewhat "lumpy". Some bits are bang up-to-date - others are not; some bits are international some are very US domestic focussed; some bits are amazingly simple (does anyone not know what a direct debit is?) others are highly complex (efficient frontiers and linear programming).

2. The authors should acknowledge that not all CFOs are female and to use "she" in place of "he" whenever they refer to senior decision-makers in fictional companies is both unnecessary and patronising. Feminists will tell you, you've got this wrong - you could easily have used more neutral language (instead of he or she use "they" for example).

3. "Forecasted" is a very clumsy word (on almost every page) - doesn't everyone just say "forecast"?

4. Text refers to "blue lines" on the graphs which are always "black lines" - by the 9th edition you'd think you could have sorted that out!

More technically specific gripes:
1. I believe there are occasions when it makes sense to exercise American options early if you can't short the stock (eg US government has just banned short selling in financial stocks).
2. p649 high yield spreads declined as investors "scurried to the safe haven of high-quality debt" - forgive me but I for one can't work that out!
3. p 788 IOSC is the wrong acronmy for IOSCO (typo?).
4. Swaps are poorly explained. They derived from the arbitrages between international bond markets - which explains how they are structured.
5. The book refers only to the interest calculation basis of actual/360 which is only used in US. It is confusing to only mention this basis and not go on to refer to 30/360 (bond basis) or actual/365 as used in most international markets. In fact, there is a whole section on cash amangement that needs to be reviewed, in my opinion, to make it international and fit with the rest of the book.

Overall, I think it is a good textbook and sound primer - but someone needs a re-edit to freshen it up. The good news is that the Credit Cruch provides that opportunity to take a fresh look at the whole thing and highlight liquidity issues!

Excellent introduction with enough detail for the lay person, 23 Sep 2008
I found this book after searching long and hard for some information about financial instruments in general. Having heard some of the terms described in the book, I was at a loss to know what the heck they were used for. For example SWAPS and Repos where terms I had heard in the financial media but had no idea why they would be used. This book answered my questions and more. It also placed the financial markets into a global context, as the markets are truely world-wide. Thankfully, for me anyway, there are no complex formulae or mathematical terms in the book. It is an "Introduction", therefore high level. Having said that, it still takes some time to put the pieces together, but that is not the fault of the author. Financial markets are complex and hence difficult to understand. In my opinion this book is the best available if you require a high-level, not too detailed, Introduction to Global Financial Markets.

At Last ! A book that has it all for finance newbies, 03 Feb 2008
A FANTASTIC book for all newcomers to finance and a briliant refresher for commercial and investment bankers who need to get a bird eye's view of the markets. How do markets inter-relate? What is the history behind the players, the products and the regulators? Stephen Valdez' years of experience as a financial markets trainer are distilled into a jargon-free guidebook. This book should be recommended reading for all new banking graduate trainees. And anyone selling to the "city" or working in a support role eg: Audit, Regulation, Compliance, Risk, Middle Office, Back Office, Law, HR, Sales/Marketing, Public/Investor Relations etc. Get it ! It's worth every cent.

The best book on finance I've ever read, 27 Sep 2007
This is the best book on finance I've ever read. It's a comprehensive introduction to financial markets written in simple language. BUY IT.

A good readable intro, 20 Feb 2007
This is a great grounding in global markets & written in a plain., straightforward style. I've got this new (5th) edition which has good - broad, but interesting - coverage of Chinese and Indian markets. And the further reading at the back gives good links to books on more specific ares.

Good job, well done., 30 May 2006
The book is an Introduction - a very useful one, which outlines in reasonable detail all the areas of the financial world you are likely to need to know about.

For a beginner, i.e. someone looking to study the industry, or someone looking to make a career in the industry (like me), the book is excellent because the writing is clear and the content jolly interesting!

No, it is NOT a comprehensive guide to risk management, to valuation, or to derivatives trading, or whatever else you hoped it would be. But it IS the place to start - if you happen to have half a brain, you will know after reading it which book(s) to buy next!


A good intermediate finance book, 20 Nov 2003
Although a little long-winded in places, this is a good reference book for anyone wanting a slightly more than basic understanding of various corporate finance concepts, talking about derivatives, hedges, ratios etc. It was certainly useful to me obtaining an A in a module in it at university!

Making corporate finance understandable!, 20 Jul 2000
Economics and finance are not the easiest subjects to understand (well not for me anyway! ). Having looked at all the US finance texts, most of which ressemble the London phone book, it was a relief to find a book that explains the principles of finance in an easy to understand fashion and that gradually introduces you to the more advanced topics. The chapters flow in a logical manner and I found myself almost enjoying studying finance! Finding a book that balances readability and depth is often hard but this book does.

Highly Recommended!!, 26 Aug 2008
Having contemplated buying this book i can safely say it is definately an invaluable book whether your already working in the financial industry, an undergraduate (such as myself) or just have an interest in understanding the murky world that it the city.

Chapters focus on specific FT articles with detailed analysis to decipher technical jargon and key terms. For myself the best feature of the book is the fact that the author Kevin Boakes provides an insider's view and self-review questions which provides the opportunity for self-study and a crucial book for reference ahead of lectures and exams.

Finally there are Boakes provides web-based activities and online web content to support the publication as well as downloadable podcasts, which is a welcomed changed for students who wish to use a variety of web-based and other media rather than be restricted to to written texts

If your hestitating aobut buying this book dont, its a must have if your considering a career in finance or business related area.

Understand financial jargon!, 14 Mar 2008
If you have ever opened up the financial times and felt overwhelmed by all the jargon then this book is for you. This book will give you a short introduction to a number of major topics in the financial world, such as mergers and acquisitions and private equity. In the process of giving you this quick introduction the author will also equip you with all the tools you need to do further reading on that topic. This is done by explaining all the relevant jargon and referring you to other resources which will further expand your understanding.

The book is split up into a number of bite size chapters, none of which take more than an hour to read. Each chapter begins with a couple of articles on a given topic, taken directly from the financial times. Following this the author "translates" this text into plain English, explaining and defining all the relevant jargon in the process. At the end of each chapter a number of textbook style questions and practical exercises are provided, along with a list of further reading. Links to the author's excellent podcast are also provided.

This book is useful not only to those wishing to quickly learn how to read and understand the financial times (as the title suggests), but also to those looking for a concise introduction to the workings of the financial world. Knowledge gleaned from reading this book would also prove very useful to students applying for jobs in the city.



Excellent book!, 13 Mar 2008
This book played an instrumental role in landing me various placements at international law firms. As a law student my exposure to the business and commercial world was not extensive enough to cater for the "commercial awareness" demands of corporate law firms, but this book helped me grasp the key concepts of business and finance and be able to talk about them. The use of real-life articles and frequent examples demonstrating the key ideas is really helpful when applying the ideas to new situations, as was required in the interviews. The books is also very easy to read, maintaining the reader's interest unlike some of the more heavy-going textbooks in this area. I would definitely recommend this book to anyone who needs to learn about the corporate world, the interplay between the different professional sectors (for example business and law) or even those who wish to develop their understanding of business. Fantastic!

Broaden your understanding of the Finance World, 03 Mar 2008
As a BA Accounting and Finance student, this book is amazing and has helped me revise for my finance module with much ease. This book is ideal for any student who is currently studying Finance, someone who works in Finance, or someone who is just new to the FT. It has articles which relate to each topic helping you understand the topic better. Also a great way to revise as the examples trigger the memory! After each article Kevin has analysed the article giving you a broader understanding of the article. All the FT terms that are important are then defined. Again, easier to memorise in exams as you can associate each definition with the article this also allows you to provide examples in the exam, increasing your chance of a better mark. The book also contains questions and involves loads of different resources for additional learning such as web, books, FT and podcasts. I personally enjoy the podcasts, and think it's a great tool for revising, it's like having a lecturer in front of you, also you can listen to the podcast anywhere. Kevin has created a podcast for each topic, so it's a great way to recap the topic. It also has a glossary, so its like carrying a small dictionary, as it provides a quick reference to all definitions, which is ideal when reading through the FT.

The book overall is a great way for learning, it uses various different ways to broaden your understanding of the Finance world whilst being concise and most importantly easy to carry!

A corporate finance refesher cource (in a book)!!, 22 Sep 2007
I purchased this edition together with Day's other book "Mastering Financial Modelling" recently on a trip to London. I was really looking for an Excel modelling book that had a bent on many of the common problems encountered in everyday corporate finance. These two books answered my brief very well.

For this book, the focus is on the various different theories of corporate finance and applied within a standardised Excel modelling framework. The theorectical detail is light, as the book assumes a certain level of academic training, so as to show the reader how such problems can be structured and modified with layers of complexity as needed. In addition to corporate finance principles, the book summarises the key elements of statistics that are used in most financial evalutaions.

The book is marred by some sloppy editing, spelling mistakes and gramatical errors (most unlike his other books). To me the key advantage of the book is how the author highlights and emphasises the sheer power and potential of Excel. As a result my modelling capabilities just reached a whole new level!

Not particularly skillful or vital, but OK, 14 Sep 2008
Not a very balanced book, tending to press its own agenda instead. Written in a slightly repetitive and even, on occasion, condescending and presumptious tone. Overall a rather amateur effort that doesn't justify the price tag, though as a simple-to-read taster for the field I suppose it is acceptable.

Private Equity made easy, 21 Feb 2007
I got an advanced copy of this text through a friend in publishing as I am currently undertaking a Business Masters; she felt that it might come in useful and I am only too glad that she did. This book is geared very much towards the reader and is consequently why I found a difficult and complex subject matter explained well in an amusing style, set out clearly without the 'fudging' and 'monotany' that many academic texts are presented. The glossary alone reveals a whole new world of knowledge I never before knew exsisted. No one can deny that Private Equity is an area that is rapidy progressing in the private investment sector, business reports in the past month have focused heavily on this, so the timing of this book is spot on and very current.

I strongly believe this is the only definitive textbook in the world on this subject, I am only aware of one other casebook by Josh Lerner, but nowhere else can you find chapter and verse on each and every aspect of this rapidly growing investment sector.

A must have certainly for any business or economics student and just as relevent for all those who work in the investement sector. Fraser-Sampson's book cannot have arrived at a more prudent time.

Private Equity as an Asset Class, 18 Feb 2007
One cannot open a paper, or an online newspaper, these days without private equity being showcased.

The media, depending on its mood, swings between showcasing private equity as the hero or villain of business today. As anyone in the industry knows, private equity are two words which cover a wide range of firms, activities and individuals. It is difficult and wrong to draw generalised conclusions.

Guy in a well written and well timed release brings light to the private equity asset class and dissolves some of the myths being propagated by those who have little understanding of this industry. A must read for anyone new to the industry, and all those who seek to enter or comment on the industry.

Might I recommend that Guy ship a copy of this book to all the major papers in the UK, as it might shed some light on an industry which may in fact be on the "crest of a wave"; but will not be disappearing in the near future. Well, I hope not anyway - as its an industry that has much to offer to the world, especially the venture side.


Brilliantly written ! Makes very easy reading out of what are very complex issues., 31 Oct 2006
I have had the advantage of reading the manuscript of this book in advance, and one of the comments on the cover is my own.

Unlike other books on the subject, this one does not dive straight off into complicated areas such as return analysis, nor does it deal with such nebulous matters as the GP/LP relationship (indeed, the writer states that he considers this last topic to be something of a red herring). Instead, the book sets out to be a comprehensive account of private equity from first principles onwards, and will guide you steadily through the intricacies of the asset class until you find yourself quite happily using very complex analysis models to look at buyout and venture returns. More importantly, it focuses on explaining the principles which underlie all of this, so you will actually understand what you are doing, and why. As the writer says repeatedly "don't just look at the figures - try to think what lies behind them."

Fraser-Sampson has twenty years experience of the private equity industry, and the depth and range of his knowledge shines through every page. I was a great fan (and a reviewer) of his first book "Multi Asset Class Investment Strategy", and ideally they should be read together. The first explains why you should be allocating 25% of your portfolio to private equity, and this one explains how you should actually go about it. Just as the first one came up with a whole new way of looking at investment in general, so this one makes some very innovative points, not all of which will make happy reading in some quarters. For example, he believes that private equity performance should be judged across an investor's whole allocation (what he calls Total Return investing) rather than, as presently, on just that small part of it which may be invested at any one time.

Both books are brilliantly written and make very easy reading out of what are very complex issues.

Comprehensive, 30 Sep 2008
I just read the book - cover to cover. It is very comprehensive and readable however I have a few gripes:

1. It reads like a book that has "evolved" and is somewhat "lumpy". Some bits are bang up-to-date - others are not; some bits are international some are very US domestic focussed; some bits are amazingly simple (does anyone not know what a direct debit is?) others are highly complex (efficient frontiers and linear programming).

2. The authors should acknowledge that not all CFOs are female and to use "she" in place of "he" whenever they refer to senior decision-makers in fictional companies is both unnecessary and patronising. Feminists will tell you, you've got this wrong - you could easily have used more neutral language (instead of he or she use "they" for example).

3. "Forecasted" is a very clumsy word (on almost every page) - doesn't everyone just say "forecast"?

4. Text refers to "blue lines" on the graphs which are always "black lines" - by the 9th edition you'd think you could have sorted that out!

More technically specific gripes:
1. I believe there are occasions when it makes sense to exercise American options early if you can't short the stock (eg US government has just banned short selling in financial stocks).
2. p649 high yield spreads declined as investors "scurried to the safe haven of high-quality debt" - forgive me but I for one can't work that out!
3. p 788 IOSC is the wrong acronmy for IOSCO (typo?).
4. Swaps are poorly explained. They derived from the arbitrages between international bond markets - which explains how they are structured.
5. The book refers only to the interest calculation basis of actual/360 which is only used in US. It is confusing to only mention this basis and not go on to refer to 30/360 (bond basis) or actual/365 as used in most international markets. In fact, there is a whole section on cash amangement that needs to be reviewed, in my opinion, to make it international and fit with the rest of the book.

Overall, I think it is a good textbook and sound primer - but someone needs a re-edit to freshen it up. The good news is that the Credit Cruch provides that opportunity to take a fresh look at the whole thing and highlight liquidity issues!

Excellent introduction with enough detail for the lay person, 23 Sep 2008
I found this book after searching long and hard for some information about financial instruments in general. Having heard some of the terms described in the book, I was at a loss to know what the heck they were used for. For example SWAPS and Repos where terms I had heard in the financial media but had no idea why they would be used. This book answered my questions and more. It also placed the financial markets into a global context, as the markets are truely world-wide. Thankfully, for me anyway, there are no complex formulae or mathematical terms in the book. It is an "Introduction", therefore high level. Having said that, it still takes some time to put the pieces together, but that is not the fault of the author. Financial markets are complex and hence difficult to understand. In my opinion this book is the best available if you require a high-level, not too detailed, Introduction to Global Financial Markets.

At Last ! A book that has it all for finance newbies, 03 Feb 2008
A FANTASTIC book for all newcomers to finance and a briliant refresher for commercial and investment bankers who need to get a bird eye's view of the markets. How do markets inter-relate? What is the history behind the players, the products and the regulators? Stephen Valdez' years of experience as a financial markets trainer are distilled into a jargon-free guidebook. This book should be recommended reading for all new banking graduate trainees. And anyone selling to the "city" or working in a support role eg: Audit, Regulation, Compliance, Risk, Middle Office, Back Office, Law, HR, Sales/Marketing, Public/Investor Relations etc. Get it ! It's worth every cent.

The best book on finance I've ever read, 27 Sep 2007
This is the best book on finance I've ever read. It's a comprehensive introduction to financial markets written in simple language. BUY IT.

A good readable intro, 20 Feb 2007
This is a great grounding in global markets & written in a plain., straightforward style. I've got this new (5th) edition which has good - broad, but interesting - coverage of Chinese and Indian markets. And the further reading at the back gives good links to books on more specific ares.

Good job, well done., 30 May 2006
The book is an Introduction - a very useful one, which outlines in reasonable detail all the areas of the financial world you are likely to need to know about.

For a beginner, i.e. someone looking to study the industry, or someone looking to make a career in the industry (like me), the book is excellent because the writing is clear and the content jolly interesting!

No, it is NOT a comprehensive guide to risk management, to valuation, or to derivatives trading, or whatever else you hoped it would be. But it IS the place to start - if you happen to have half a brain, you will know after reading it which book(s) to buy next!


A good intermediate finance book, 20 Nov 2003
Although a little long-winded in places, this is a good reference book for anyone wanting a slightly more than basic understanding of various corporate finance concepts, talking about derivatives, hedges, ratios etc. It was certainly useful to me obtaining an A in a module in it at university!

Making corporate finance understandable!, 20 Jul 2000
Economics and finance are not the easiest subjects to understand (well not for me anyway! ). Having looked at all the US finance texts, most of which ressemble the London phone book, it was a relief to find a book that explains the principles of finance in an easy to understand fashion and that gradually introduces you to the more advanced topics. The chapters flow in a logical manner and I found myself almost enjoying studying finance! Finding a book that balances readability and depth is often hard but this book does.

Highly Recommended!!, 26 Aug 2008
Having contemplated buying this book i can safely say it is definately an invaluable book whether your already working in the financial industry, an undergraduate (such as myself) or just have an interest in understanding the murky world that it the city.

Chapters focus on specific FT articles with detailed analysis to decipher technical jargon and key terms. For myself the best feature of the book is the fact that the author Kevin Boakes provides an insider's view and self-review questions which provides the opportunity for self-study and a crucial book for reference ahead of lectures and exams.

Finally there are Boakes provides web-based activities and online web content to support the publication as well as downloadable podcasts, which is a welcomed changed for students who wish to use a variety of web-based and other media rather than be restricted to to written texts

If your hestitating aobut buying this book dont, its a must have if your considering a career in finance or business related area.

Understand financial jargon!, 14 Mar 2008
If you have ever opened up the financial times and felt overwhelmed by all the jargon then this book is for you. This book will give you a short introduction to a number of major topics in the financial world, such as mergers and acquisitions and private equity. In the process of giving you this quick introduction the author will also equip you with all the tools you need to do further reading on that topic. This is done by explaining all the relevant jargon and referring you to other resources which will further expand your understanding.

The book is split up into a number of bite size chapters, none of which take more than an hour to read. Each chapter begins with a couple of articles on a given topic, taken directly from the financial times. Following this the author "translates" this text into plain English, explaining and defining all the relevant jargon in the process. At the end of each chapter a number of textbook style questions and practical exercises are provided, along with a list of further reading. Links to the author's excellent podcast are also provided.

This book is useful not only to those wishing to quickly learn how to read and understand the financial times (as the title suggests), but also to those looking for a concise introduction to the workings of the financial world. Knowledge gleaned from reading this book would also prove very useful to students applying for jobs in the city.



Excellent book!, 13 Mar 2008
This book played an instrumental role in landing me various placements at international law firms. As a law student my exposure to the business and commercial world was not extensive enough to cater for the "commercial awareness" demands of corporate law firms, but this book helped me grasp the key concepts of business and finance and be able to talk about them. The use of real-life articles and frequent examples demonstrating the key ideas is really helpful when applying the ideas to new situations, as was required in the interviews. The books is also very easy to read, maintaining the reader's interest unlike some of the more heavy-going textbooks in this area. I would definitely recommend this book to anyone who needs to learn about the corporate world, the interplay between the different professional sectors (for example business and law) or even those who wish to develop their understanding of business. Fantastic!

Broaden your understanding of the Finance World, 03 Mar 2008
As a BA Accounting and Finance student, this book is amazing and has helped me revise for my finance module with much ease. This book is ideal for any student who is currently studying Finance, someone who works in Finance, or someone who is just new to the FT. It has articles which relate to each topic helping you understand the topic better. Also a great way to revise as the examples trigger the memory! After each article Kevin has analysed the article giving you a broader understanding of the article. All the FT terms that are important are then defined. Again, easier to memorise in exams as you can associate each definition with the article this also allows you to provide examples in the exam, increasing your chance of a better mark. The book also contains questions and involves loads of different resources for additional learning such as web, books, FT and podcasts. I personally enjoy the podcasts, and think it's a great tool for revising, it's like having a lecturer in front of you, also you can listen to the podcast anywhere. Kevin has created a podcast for each topic, so it's a great way to recap the topic. It also has a glossary, so its like carrying a small dictionary, as it provides a quick reference to all definitions, which is ideal when reading through the FT.

The book overall is a great way for learning, it uses various different ways to broaden your understanding of the Finance world whilst being concise and most importantly easy to carry!

A corporate finance refesher cource (in a book)!!, 22 Sep 2007
I purchased this edition together with Day's other book "Mastering Financial Modelling" recently on a trip to London. I was really looking for an Excel modelling book that had a bent on many of the common problems encountered in everyday corporate finance. These two books answered my brief very well.

For this book, the focus is on the various different theories of corporate finance and applied within a standardised Excel modelling framework. The theorectical detail is light, as the book assumes a certain level of academic training, so as to show the reader how such problems can be structured and modified with layers of complexity as needed. In addition to corporate finance principles, the book summarises the key elements of statistics that are used in most financial evalutaions.

The book is marred by some sloppy editing, spelling mistakes and gramatical errors (most unlike his other books). To me the key advantage of the book is how the author highlights and emphasises the sheer power and potential of Excel. As a result my modelling capabilities just reached a whole new level!

Not particularly skillful or vital, but OK, 14 Sep 2008
Not a very balanced book, tending to press its own agenda instead. Written in a slightly repetitive and even, on occasion, condescending and presumptious tone. Overall a rather amateur effort that doesn't justify the price tag, though as a simple-to-read taster for the field I suppose it is acceptable.

Private Equity made easy, 21 Feb 2007
I got an advanced copy of this text through a friend in publishing as I am currently undertaking a Business Masters; she felt that it might come in useful and I am only too glad that she did. This book is geared very much towards the reader and is consequently why I found a difficult and complex subject matter explained well in an amusing style, set out clearly without the 'fudging' and 'monotany' that many academic texts are presented. The glossary alone reveals a whole new world of knowledge I never before knew exsisted. No one can deny that Private Equity is an area that is rapidy progressing in the private investment sector, business reports in the past month have focused heavily on this, so the timing of this book is spot on and very current.

I strongly believe this is the only definitive textbook in the world on this subject, I am only aware of one other casebook by Josh Lerner, but nowhere else can you find chapter and verse on each and every aspect of this rapidly growing investment sector.

A must have certainly for any business or economics student and just as relevent for all those who work in the investement sector. Fraser-Sampson's book cannot have arrived at a more prudent time.

Private Equity as an Asset Class, 18 Feb 2007
One cannot open a paper, or an online newspaper, these days without private equity being showcased.

The media, depending on its mood, swings between showcasing private equity as the hero or villain of business today. As anyone in the industry knows, private equity are two words which cover a wide range of firms, activities and individuals. It is difficult and wrong to draw generalised conclusions.

Guy in a well written and well timed release brings light to the private equity asset class and dissolves some of the myths being propagated by those who have little understanding of this industry. A must read for anyone new to the industry, and all those who seek to enter or comment on the industry.

Might I recommend that Guy ship a copy of this book to all the major papers in the UK, as it might shed some light on an industry which may in fact be on the "crest of a wave"; but will not be disappearing in the near future. Well, I hope not anyway - as its an industry that has much to offer to the world, especially the venture side.


Brilliantly written ! Makes very easy reading out of what are very complex issues., 31 Oct 2006
I have had the advantage of reading the manuscript of this book in advance, and one of the comments on the cover is my own.

Unlike other books on the subject, this one does not dive straight off into complicated areas such as return analysis, nor does it deal with such nebulous matters as the GP/LP relationship (indeed, the writer states that he considers this last topic to be something of a red herring). Instead, the book sets out to be a comprehensive account of private equity from first principles onwards, and will guide you steadily through the intricacies of the asset class until you find yourself quite happily using very complex analysis models to look at buyout and venture returns. More importantly, it focuses on explaining the principles which underlie all of this, so you will actually understand what you are doing, and why. As the writer says repeatedly "don't just look at the figures - try to think what lies behind them."

Fraser-Sampson has twenty years experience of the private equity industry, and the depth and range of his knowledge shines through every page. I was a great fan (and a reviewer) of his first book "Multi Asset Class Investment Strategy", and ideally they should be read together. The first explains why you should be allocating 25% of your portfolio to private equity, and this one explains how you should actually go about it. Just as the first one came up with a whole new way of looking at investment in general, so this one makes some very innovative points, not all of which will make happy reading in some quarters. For example, he believes that private equity performance should be judged across an investor's whole allocation (what he calls Total Return investing) rather than, as presently, on just that small part of it which may be invested at any one time.

Both books are brilliantly written and make very easy reading out of what are very complex issues.


Full of glaring mistakes!!!, 03 Feb 2006
Note This review applies only to the 4th edition.

This 4th edition book was recommended on a reading list for an economics related course and I duly bought it. Big mistake! There are numerous errors; decimal points omitted, plus signs where there should be minus signs and x's where there should be y's. Some of these mistakes are more obvious than others. In one example that I noticed 'in' has been left out from the word inefficient and the sentence has a completely different meaning.

Imagine my surprise when I checked a third editon copy and found it free from these mistakes. I wish I'd just bought a second-hand copy of the 3rd edtion. All in all it is a very poorly edited text. Lecturers out there - please do not recomend this edition to your studies so that hours of confusion can prevented!

Use by all students, 29 Nov 2005
Although one of the more expensive books around, it's certainly the best. It's not only useful for MBA and Doctoral students, but I am constantly using it as an Undergraduate taking a Finance course. Highly recommended.

Comprehensive, 30 Sep 2008
I just read the book - cover to cover. It is very comprehensive and readable however I have a few gripes:

1. It reads like a book that has "evolved" and is somewhat "lumpy". Some bits are bang up-to-date - others are not; some bits are international some are very US domestic focussed; some bits are amazingly simple (does anyone not know what a direct debit is?) others are highly complex (efficient frontiers and linear programming).

2. The authors should acknowledge that not all CFOs are female and to use "she" in place of "he" whenever they refer to senior decision-makers in fictional companies is both unnecessary and patronising. Feminists will tell you, you've got this wrong - you could easily have used more neutral language (instead of he or she use "they" for example).

3. "Forecasted" is a very clumsy word (on almost every page) - doesn't everyone just say "forecast"?

4. Text refers to "blue lines" on the graphs which are always "black lines" - by the 9th edition you'd think you could have sorted that out!

More technically specific gripes:
1. I believe there are occasions when it makes sense to exercise American options early if you can't short the stock (eg US government has just banned short selling in financial stocks).
2. p649 high yield spreads declined as investors "scurried to the safe haven of high-quality debt" - forgive me but I for one can't work that out!
3. p 788 IOSC is the wrong acronmy for IOSCO (typo?).
4. Swaps are poorly explained. They derived from the arbitrages between international bond markets - which explains how they are structured.
5. The book refers only to the interest calculation basis of actual/360 which is only used in US. It is confusing to only mention this basis and not go on to refer to 30/360 (bond basis) or actual/365 as used in most international markets. In fact, there is a whole section on cash amangement that needs to be reviewed, in my opinion, to make it international and fit with the rest of the book.

Overall, I think it is a good textbook and sound primer - but someone needs a re-edit to freshen it up. The good news is that the Credit Cruch provides that opportunity to take a fresh look at the whole thing and highlight liquidity issues!

Excellent introduction with enough detail for the lay person, 23 Sep 2008
I found this book after searching long and hard for some information about financial instruments in general. Having heard some of the terms described in the book, I was at a loss to know what the heck they were used for. For example SWAPS and Repos where terms I had heard in the financial media but had no idea why they would be used. This book answered my questions and more. It also placed the financial markets into a global context, as the markets are truely world-wide. Thankfully, for me anyway, there are no complex formulae or mathematical terms in the book. It is an "Introduction", therefore high level. Having said that, it still takes some time to put the pieces together, but that is not the fault of the author. Financial markets are complex and hence difficult to understand. In my opinion this book is the best available if you require a high-level, not too detailed, Introduction to Global Financial Markets.

At Last ! A book that has it all for finance newbies, 03 Feb 2008
A FANTASTIC book for all newcomers to finance and a briliant refresher for commercial and investment bankers who need to get a bird eye's view of the markets. How do markets inter-relate? What is the history behind the players, the products and the regulators? Stephen Valdez' years of experience as a financial markets trainer are distilled into a jargon-free guidebook. This book should be recommended reading for all new banking graduate trainees. And anyone selling to the "city" or working in a support role eg: Audit, Regulation, Compliance, Risk, Middle Office, Back Office, Law, HR, Sales/Marketing, Public/Investor Relations etc. Get it ! It's worth every cent.

The best book on finance I've ever read, 27 Sep 2007
This is the best book on finance I've ever read. It's a comprehensive introduction to financial markets written in simple language. BUY IT.

A good readable intro, 20 Feb 2007
This is a great grounding in global markets & written in a plain., straightforward style. I've got this new (5th) edition which has good - broad, but interesting - coverage of Chinese and Indian markets. And the further reading at the back gives good links to books on more specific ares.

Good job, well done., 30 May 2006
The book is an Introduction - a very useful one, which outlines in reasonable detail all the areas of the financial world you are likely to need to know about.

For a beginner, i.e. someone looking to study the industry, or someone looking to make a career in the industry (like me), the book is excellent because the writing is clear and the content jolly interesting!

No, it is NOT a comprehensive guide to risk management, to valuation, or to derivatives trading, or whatever else you hoped it would be. But it IS the place to start - if you happen to have half a brain, you will know after reading it which book(s) to buy next!


A good intermediate finance book, 20 Nov 2003
Although a little long-winded in places, this is a good reference book for anyone wanting a slightly more than basic understanding of various corporate finance concepts, talking about derivatives, hedges, ratios etc. It was certainly useful to me obtaining an A in a module in it at university!

Making corporate finance understandable!, 20 Jul 2000
Economics and finance are not the easiest subjects to understand (well not for me anyway! ). Having looked at all the US finance texts, most of which ressemble the London phone book, it was a relief to find a book that explains the principles of finance in an easy to understand fashion and that gradually introduces you to the more advanced topics. The chapters flow in a logical manner and I found myself almost enjoying studying finance! Finding a book that balances readability and depth is often hard but this book does.

Highly Recommended!!, 26 Aug 2008
Having contemplated buying this book i can safely say it is definately an invaluable book whether your already working in the financial industry, an undergraduate (such as myself) or just have an interest in understanding the murky world that it the city.

Chapters focus on specific FT articles with detailed analysis to decipher technical jargon and key terms. For myself the best feature of the book is the fact that the author Kevin Boakes provides an insider's view and self-review questions which provides the opportunity for self-study and a crucial book for reference ahead of lectures and exams.

Finally there are Boakes provides web-based activities and online web content to support the publication as well as downloadable podcasts, which is a welcomed changed for students who wish to use a variety of web-based and other media rather than be restricted to to written texts

If your hestitating aobut buying this book dont, its a must have if your considering a career in finance or business related area.

Understand financial jargon!, 14 Mar 2008
If you have ever opened up the financial times and felt overwhelmed by all the jargon then this book is for you. This book will give you a short introduction to a number of major topics in the financial world, such as mergers and acquisitions and private equity. In the process of giving you this quick introduction the author will also equip you with all the tools you need to do further reading on that topic. This is done by explaining all the relevant jargon and referring you to other resources which will further expand your understanding.

The book is split up into a number of bite size chapters, none of which take more than an hour to read. Each chapter begins with a couple of articles on a given topic, taken directly from the financial times. Following this the author "translates" this text into plain English, explaining and defining all the relevant jargon in the process. At the end of each chapter a number of textbook style questions and practical exercises are provided, along with a list of further reading. Links to the author's excellent podcast are also provided.

This book is useful not only to those wishing to quickly learn how to read and understand the financial times (as the title suggests), but also to those looking for a concise introduction to the workings of the financial world. Knowledge gleaned from reading this book would also prove very useful to students applying for jobs in the city.



Excellent book!, 13 Mar 2008
This book played an instrumental role in landing me various placements at international law firms. As a law student my exposure to the business and commercial world was not extensive enough to cater for the "commercial awareness" demands of corporate law firms, but this book helped me grasp the key concepts of business and finance and be able to talk about them. The use of real-life articles and frequent examples demonstrating the key ideas is really helpful when applying the ideas to new situations, as was required in the interviews. The books is also very easy to read, maintaining the reader's interest unlike some of the more heavy-going textbooks in this area. I would definitely recommend this book to anyone who needs to learn about the corporate world, the interplay between the different professional sectors (for example business and law) or even those who wish to develop their understanding of business. Fantastic!

Broaden your understanding of the Finance World, 03 Mar 2008
As a BA Accounting and Finance student, this book is amazing and has helped me revise for my finance module with much ease. This book is ideal for any student who is currently studying Finance, someone who works in Finance, or someone who is just new to the FT. It has articles which relate to each topic helping you understand the topic better. Also a great way to revise as the examples trigger the memory! After each article Kevin has analysed the article giving you a broader understanding of the article. All the FT terms that are important are then defined. Again, easier to memorise in exams as you can associate each definition with the article this also allows you to provide examples in the exam, increasing your chance of a better mark. The book also contains questions and involves loads of different resources for additional learning such as web, books, FT and podcasts. I personally enjoy the podcasts, and think it's a great tool for revising, it's like having a lecturer in front of you, also you can listen to the podcast anywhere. Kevin has created a podcast for each topic, so it's a great way to recap the topic. It also has a glossary, so its like carrying a small dictionary, as it provides a quick reference to all definitions, which is ideal when reading through the FT.

The book overall is a great way for learning, it uses various different ways to broaden your understanding of the Finance world whilst being concise and most importantly easy to carry!

A corporate finance refesher cource (in a book)!!, 22 Sep 2007
I purchased this edition together with Day's other book "Mastering Financial Modelling" recently on a trip to London. I was really looking for an Excel modelling book that had a bent on many of the common problems encountered in everyday corporate finance. These two books answered my brief very well.

For this book, the focus is on the various different theories of corporate finance and applied within a standardised Excel modelling framework. The theorectical detail is light, as the book assumes a certain level of academic training, so as to show the reader how such problems can be structured and modified with layers of complexity as needed. In addition to corporate finance principles, the book summarises the key elements of statistics that are used in most financial evalutaions.

The book is marred by some sloppy editing, spelling mistakes and gramatical errors (most unlike his other books). To me the key advantage of the book is how the author highlights and emphasises the sheer power and potential of Excel. As a result my modelling capabilities just reached a whole new level!

Not particularly skillful or vital, but OK, 14 Sep 2008
Not a very balanced book, tending to press its own agenda instead. Written in a slightly repetitive and even, on occasion, condescending and presumptious tone. Overall a rather amateur effort that doesn't justify the price tag, though as a simple-to-read taster for the field I suppose it is acceptable.

Private Equity made easy, 21 Feb 2007
I got an advanced copy of this text through a friend in publishing as I am currently undertaking a Business Masters; she felt that it might come in useful and I am only too glad that she did. This book is geared very much towards the reader and is consequently why I found a difficult and complex subject matter explained well in an amusing style, set out clearly without the 'fudging' and 'monotany' that many academic texts are presented. The glossary alone reveals a whole new world of knowledge I never before knew exsisted. No one can deny that Private Equity is an area that is rapidy progressing in the private investment sector, business reports in the past month have focused heavily on this, so the timing of this book is spot on and very current.

I strongly believe this is the only definitive textbook in the world on this subject, I am only aware of one other casebook by Josh Lerner, but nowhere else can you find chapter and verse on each and every aspect of this rapidly growing investment sector. <