Product Description
Although many modelers can master the basic techniques of construction, it is with the painting and finishing of their kits that many begin to struggle. It is this skill that gives the model its distinctive look and feel and separates the good model form the truly great one. This title will present a detailed, step-by-step approach to addressing the difficulties involved in creating realistic, colorful finishes to armor and aviation models using a variety of different media and techniques. The book swill be aimed at both the beginner and the intermediate modeler looking to improve their skills and, through clear text and photography will give a chapter-by chapter guide to the subject. Each stage will deal with a particular element of the painting and finishing process, whether it be creating camouflage schemes or dealing with markings and decals, to build into a comprehensive study of the subject. Relevant tools and materials will be included in sidebars, whilst a Gallery feature will highlight the range of color schemes and finishes available throughout the world of military and aviation modeling. ... Read more

Customer Reviews (3)

Nice book on painting a model
I was looking for a model book that had good color illustrations, which this book does very well.There are excellent photos on how to paint a model.Gives nice tips on how to paint camouflage, airplanes, tanks, and even military figures.

A range of different models are illustrated in this fine guide, packed with color photos and insights
Painting and Finishing Techniques is a recommended pick for any library strong in modeling: it covers finishing techniques for kit modelers, offering beginners and intermediate modelers alike fine step-by-step guide to overcoming common problems in painting and finishing. A range of different models are illustrated in this fine guide, packed with color photos and insights.

An excellent resource for wargamers, modellers, & dioramists
Typical of Osprey's books for military miniature enthusiasts and wargaming hobbyists, this book offers several full color plates and illustrations, and is chock full of tips, advice, and lessons learned from some of the finest painters of military miniatures, model airplanes & tanks, vehicles, etc. It goes through set-up, tools, work spaces, painting tips, weathering, dry brushing, detailing, highlighting, shading and various other tips that are of great value to the novice painter, and even can help more experienced veteran painters and modelers. Well worth a look if you are into model military machines. ... Read more

Product Description
Financial Modelling in Practice: A Concise Guide for Intermediate and Advanced Level is a practical, comprehensive and in-depth guide to financial modelling designed to cover the modelling issues that are relevant to facilitate the construction of robust and readily understandable models.

Based on the authors extensive experience of building models in business and finance, and of training others how to do so this book starts with a review of Excel functions that are generally most relevant for building intermediate and advanced level models (such as Lookup functions, database and statistical functions and so on).  It then discusses the principles involved in designing, structuring and building relevant, accurate and readily understandable models (including the use of sensitivity analysis techniques) before covering key application areas, such as the modelling of financial statements, of cash flow valuation, risk analysis, options and real options. Finally, the topic of financial modelling using VBA is treated. Practical examples are used throughout and model examples are included in the attached CD-ROM.

Aimed at intermediate and advanced level modellers in Excel who wish to extend and consolidate their knowledge, this book is focused, practical, and application-driven, facilitating knowledge to build or audit a much wider range of financial models.

Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.
... Read more

Customer Reviews (3)

Powerful Excel modeling guide
Michael Rees has produced a text that reaches its goal for advanced users. In addressing Excel functionality as well as practical model design, Rees ensures that the reader is exposed to good logic rules and expanded capabilities that enhance the value of the models the reader will go on to create. In completing the book, the reader will be much better versed in the entirety of the modeling process. It is not enough to know Excel or financial theory alone. Synthesizing the two areas in the context of practicality makes this book invaluable.

Incorporating add-in tools (Palisade Corp's @RISK and PrecisionTree) to extend the model analysis demonstrates how in an uncertain world better tools can make better models generate more information for valuations and decisions. Rees' book demonstrates his many years of experience in the areas of modeling, finance and risk.

How to Rev Up Your Financial Modeling Skills Set
Michael Rees succeeds to a large extent in his endeavor of writing a text that addresses the financial modeling process instead of Excel functionality, financial theory, or mathematical models.To his credit, Rees has put together a large number of useful modeling examples in the CD-ROM that is sold with the text.Rees' book assumes that readers have at least an intermediate knowledge of both statistical and financial concepts.

After reviewing select Excel functions and tools relevant to financial modeling, Rees gives his audience of modelers many practical tips about how to design, structure, and build models that are relevant, accurate, and easily understandable.Whoever has experience with models will probably agree with Rees when he writes that the majority of models built are in practice of mediocre quality.Someone other than the author of the model will often experience several challenges in dealing with the model at hand, i.e., too much time spent on understanding the model, complexity of the auditing and validating processes, hard to share with others, over-reliance on the original modeler to maintain or use it, lack of clarity of objectives, and presence of errors and implicit assumptions.

Rees then goes into the modeling of financial statements that is often required in the world of corporate finance for forecasting profit and cash, assessing financing requirements, analyzing credit risk and valuation, etc.This chapter is a little gem.It contains many practical tips.Once again, readers will be reminded that there is not always 100% agreement on the definition of some financial concepts.

Rees then uses Palisade Corporation's add-ins @RISK and PrecisionTree for many modeling examples in the two chapters that he dedicates to risk modeling and real option modeling, respectively.Having some understanding of both statistical and financial concepts is particularly important here to benefit from reading both chapters.Probably, many readers with an advanced knowledge of Excel 2007 will regret that the above-mentioned functionality that Palisade Corporation offers has not yet been systematically integrated into at least Microsoft Office Professional.

Finally, Rees discusses the use of Visual Basic for Applications (VBA) in a range of practical financial modeling situations. Rees points out that many otherwise competent modelers never learn VBA.For this reason, Rees makes the assumption that his audience is not very familiar with VBA.Rees shows how macros, i.e., subroutines and user-defined functions, can be used in a variety of modeling contexts.

In conclusion, Rees has made a valuable contribution to the field of financial modeling.The CD-ROM that is sold with the text plays a key role in achieving this objective.

goes far beyond standard Excel usage
Rees demonstrates how you can use Excel to perform quite sophisticated modelling. This takes the general ability to define functions and relationships between cells in a spreadsheet and pushes it far beyond simple tabular usages.

Many useful tasks are shown. One example is to perform sensitivity analysis, where you tweak the values or range of values of an input and see the resulting range of output values. This is important, because it lets you get beyond an apparent accuracy in the significant figures of your output. Often, these are just a function of the resolution of the Excel calculator. The book walks thru a sensitivity analysis that lets you see how, with a given model, the output really depends on the input range.

Another important section of the book deals with risk modelling. A stochastic analysis using various important and common probability distributions in your model. This really needs an entire book to itself. But the current discussion is enough for you to start doing nontrivial risk modelling. ... Read more

Product Description
The aircraft modeling hobby has undergone dramatic changes in the last ten years. New manufacturing technologies and the rise of China have combined to make this a golden age in terms of the variety and availability of models. But these advancements can also make the hobby intimidating for those starting out.

In this new edition in Osprey's Masterclass series, Brett Green describes the kits, accessories, decals and references that are now available and demonstrates a wide variety of paint types, thinners and application methods in both words and pictures. He also covers painting effects such as mottling, soft-edged camouflage demarcation, masking and weathering. This is the perfect book for the beginner and the seasoned modeler alike. ... Read more

Product Description
This is a thoroughly revised and updated edition of an authoritative introduction to ecological modelling. Sven Erik Jørgensen, Editor-in-Chief of the journal Ecological Modelling, and Giuseppe Bendoricchio, Professor of Environmental Modelling at the University of Padova, Italy, offer compelling insights into the subject. This volume explains the concepts and processes involved in ecological modelling, presents the latest developments in the field and provides readers with the tools to construct their own models.

The Third Edition features:

• A detailed discussion and step-by-step outline of the modelling procedure.

• An account of different model types including overview tables, examples and illustrations.

• A comprehensive presentation of the submodels and unit processes used in modelling.

• In-depth descriptions of the latest modelling techniques.

• Structured exercises at the end of each chapter.

• Three mathematical appendices and a subject index.

This practical and proven book very effectively combines the theory, methodology and applications of ecological modelling. The new edition is an essential, up-to-date guide to a rapidly growing field.
... Read more

Product Description

Building an accurate representation of firm-wide credit exposure, used for both trading and risk management, raises significant theoretical and technical challenges. This volume can be considered as a roadmap to finding practical solutions to the problem of modelling, pricing, and hedging counterparty credit exposure for large portfolios of both vanilla and exotic derivatives, usually traded by large Investment Banks. It is divided into four parts, (I) Methodology, (II) Architecture and Implementation, (III) Products, and (IV) Hedging and Managing Counterparty Risk. Starting from a generic modelling and valuation framework based on American Monte Carlo techniques, it presents a software architecture, which, with its modular design, allows the computation of credit exposure in a portfolio-aggregated and scenario-consistent way. An essential part of the design is the definition of a programming language, which allows trade representation based on dynamic modelling features. Several chapters are then devoted to the analysis of credit exposure across all asset classes, namely foreign exchange, interest rate, credit derivatives and equity. Finally it considers how to mitigate and hedge counterparty exposure. The crucial question of dynamic hedging is addressed by constructing a hybrid product, the Contingent-Credit Default Swap.

This volume addresses, from a quantitative perspective, recent developments related to counterparty credit exposure computation. Its unique characteristic is the combination of a rigorous but simple mathematical approach with a practical view of the financial problem at hand.

"...a fantastic book that covers all aspects of credit exposure modelling. Nowhere else can the interested reader find such a comprehensive collection of insights around this topic covering methodology, implementation, products and applications. A "must read" for practitioners and quants working in this space." Jörg Behrens, Fintegral Consulting, CH

"In the aftermath of the credit crunch, nobody will need convincing of the importance of managing counterparty risk. This unique book provides a consistent approach to the subject, taken all the way from underlying concepts to the nuts and bolts of computer architecture. It opens up many avenues for future research and throws down a challenge to the industry at large: any organization whose techniques are not at least as good as the ones described here had better shape up!" Mark Davis, Imperial College London, UK

"…impressive mathematical monograph … first unified and comprehensive approach to pricing and measuring counterparty credit exposures and, therefore, an essential must-have for all quantitatively oriented credit risk manager, academic researchers, and mathematics students alike … takes into account a unified approach for modelling the future economic scenarios across all asset classes under risk-neutral measure while generating a theoretic as well as technical framework for calculating credit and debit valuation adjustments …easily adapted to calculating the price of credit risk … flexible enough to price complex and hybrid financial derivatives in a completely scenario consistent way. These features make the book an absolutely outstanding and highly recommendable treatise…" Marcus R.W. Martin, Darmstadt University of Applied Sciences, D

Product Description
Mathematical models are increasingly being used to examine questions in infectious disease control. Applications include predicting the impact of vaccination strategies against common infections and determining optimal control
strategies against HIV and pandemic influenza.

This book introduces individuals interested in infectious
diseases to this exciting and expanding area. The
mathematical level of the book is kept as simple as
possible, which makes the book accessible to those who have
not studied mathematics to university level. Understanding
is further enhanced by models that can be accessed online,
which will allow readers to explore the impact of different
factors and control strategies, and further adapt and
develop the models themselves.



The book is based on successful courses developed by the
authors at the London School of Hygiene and Tropical
Medicine. It will be of interest to epidemiologists, public
health researchers, policy makers, veterinary scientists,
medical statisticians and infectious disease researchers. ... Read more

Product Description

Customer Reviews (5)

Very interesting and thought provoking, but not as your first book in modelling
This is an extremely rich book which deals with the basics and philosophy of mathematical modelling. Despite it's age, the book has a lot to give to those who already have experience in the field of mathematical modelling and who certainly will see through the oddities of the book and appreciate its many subtleties. The book is affordable and is well written, albeit in a form that seems "ancient". The author was not only an outstanding scientist but also a gifted writer and a highly educated person. His prose might therefore feel strange for people not used to read philosophical or more verbose "social science"-type texts. I enjoyed the book indeed, but I would not recommend it as your first approach to mathematical modelling. For that purpose you might choose Edward A. Bender's book instead.

Very Interesting
Interesting read for anyone with background in math or related modeling, in general. Great book.

are we reading the same book ?!?
I read the previous two reviews and purchased this book... and now I am quite disappointed. Frankly, I wonder if these reviews are made by real users, or...

First of all, this book is a mere reprint of a 1978 edition. The fonts are typewriter-style of three decades ago, so symbols are awkward and difficult to read. Many drawing and sketches are handwritten.

The first two chapters it talks in general about what is a model. These chapters are mainly philosophical, pretty boring in my opinion.

The third chapter "How to formulate a model" should contain what I was looking for. However, it describe in very general terms how you can put down a model. The description is in my opinion too general, discussing trivial well known principles. There is not a clear, well-stated method of approach. I expected a discussion based on examples of real life problems, firstly simple ones then going to more complex ones. Instead the author make a foggy presentation on how to deal with a problem, jumping to another one, without a clear line of thought.

The treatment is incredibly jumpy: the third equation of this chapter is already involving integrals, page 38 starts with "How to formulate a model", page 41 there is an example involving triple integrals on a volume...

If you are interested in a modern book that guides you or your students to the art of putting down a mathematical model of a system you want to describe, I do not think this book is for you and I do not suggest you to purchase it.

Honestly, I have no idea how this book can be useful at all these days.

MR

Mathematical Modelling Genius
One thousand word limit to this review, eh?Well, I could do it in one word: Fantastic.

This book approaches mathematical modelling from a conceptual level, with Rutherford explaining how to make numbers dance through equations any which way you want them.His depth of knowledge as a Chemical Engineer, combined with his fantastic mathematical skills means that he has knows what needs to be done in various situations and how best to do it.

The attribute that makes this, and all of Rutherfords work stand out from the rest of the pack, is his undeniable presence when writing.Rhetoric, personal insights and may the dry-and-dusty-academic world forgive him, humour (!) can be found throughout this book, making its reading quite pleasurable.

Finally, a number of thoughtful articles of his have been bound into the back of this edition, providing useful "food for thought" for those people for whom modelling is a way of life.If you are considering any of the finer points of mathematical modelling (I was doing a PhD on the subject), this book is a must-have (not just a must-read).You'll come back to it time and time again for the articles, long after you've digested the rest of the book.

This book is an excellent introduction to the area.
This book gives an amazing introduction to mathematical modelling techniques for engineers and scientists along withexcellent useful tools for model development. Further, the appendices provide very illustrative example cases of the methods developed. ... Read more

Product Description
An advanced guide to using Microsoft Excel and VBA to create spreadsheets in Excel that calculate various mathematical models in finance. Includes a CD-ROM which contains the VBA functions, macros and spreadsheets used in the text. System requirements not listed. ... Read more

Customer Reviews (15)

i did not receive the book
I have been waiting for a month, I still did not receive the book I ordered.

A good book for beginners
I actually found this book very helpful.The explanations were incredibly accessible and thorough. I did not use the accompanying disc, but I'm sure it's helpful as well, given the examples that the book goes through appear fairly straight forward.

Advance Modelling in Finance purchase
right on hands ont he job, useful material, most of the book are applications so that is just what people looking for practical apps are looking for, no excess theorie alreasdy known to practicioners, excellent

Not worth buying, don't get fooled by the reviews
Have a look first before buying. I am surprised by the 5 stars reviews!
To summarize, it is like a very simple recipes book about some models in finance. It is not to teach you VBA, and definitely will not teach you anything about finance. It is a collection of VBA implementation of some algorithms used in finance.
The algorithms implemented are the simple ones, mostly of no practical use.
You better buy a VBA book and Hull. If you are however, more knowledgeable about the topic, buy Justin London book, modeling derivatives in C++.

This book will not teach you anything, and the code included will not help you. there is muchbetter code available online for free.

Absolutely Great!
Advanced Modeling is a fantastic book, and pretty easy to follow with relatively few coding errors.There are some books out there that have errors in the code that they use, which makes it difficult or someone to learn the techniques.Even for those without a solid background in VBA, this book can benefit you to start learning how to code properly.Anyone who is relatively proficient with Excel can definitely gain a new trick or two from reading this book.All you really need to start using this book is a basic understanding of finance concepts (e.g. portolio theory, capital budgeting, binomial options pricing, Black-Scholes, etc.).The techniques that are taught are also useful in other modeling exercises, and not necessarily just for finance-related topics. ... Read more

Product Description
All organisations face more and more complex decision making, while the risks dependent on their decisions require increasingly explicit understanding of potential outcomes. This special larger format guide is full of practical help on how to build the best, most flexible, and easy-to-use business models for analysing the upside or potential downside of anything from a small development of an existing business to large-scale mergers and acquisitions. Tennent and Friend have completely revised and updated the acclaimed first edition.

For anyone who wants to get ahead in business and especially for those with bottom-line responsibilities, this is an invaluable guide to how to build spreadsheet models for assessing business risks and opportunities. ... Read more

Customer Reviews (2)

Good introduction, but not enough about modelling uncertainty
This Guide is a workmanlike introduction to the craft of modelling in Excel business cash flow and financial statements, but it could do a lot more in the area of modelling uncertainty.

The strong point of the book is its emphasis on structuring the model and the modelling process. Models tend to take on a life of their own after the initial development, and sometimes even before the first build is complete, and time spent in thinking, planning and design is usually a very worthwhile investment. This is particularly important if there are multiple people involved in the model's design and use, and the book covers how one might organise a modelling project.

The principal modelling task is designing the mathematical model that produces the desired time series of sales, costs, etc, over time, based on a handful of input parameters. The book goes into some detail about the formulae needed to render the different kinds of time series one might encounter in a typical business model, covering areas such as macroeconomics, forecasting revenue (with good discussion of times series analysis and regression techniques), operating costs, capital expenditure, working capital, and funding, along with ancillary issues such as depreciation, tax, financial statements and company valuation methods.

Also welcome are the chapters on the often overlooked topics of testing, debugging and documenting a model. There is an introduction to recording macros and programming simple Visual Basic code, but anyone serious about programming Excel with VBA can find better material elsewhere.

As I said, a good introduction. It assumes some basic understanding of Excel and business terminology, but not a lot else. There are lots of practical spreadsheet examples with the formulae all well explained, although sometimes the text description is a little disconnected from the screenshot. It is a pity the authors did not go further in several key areas.

* The book introduces the concept of Excel range names, but does not do them enough justice. The naming of ranges is the single most important underused feature in Excel, and mastering its use will dramatically reduce the bugs in a model and, if names are chosen sensibly, provide instant documentation and a model that has a fighting chance of being understood by the next modeller who picks it up and has to maintain or update it.

* Sensitivity analysis is covered in just three paragraphs, when this is probably the single most important use of a model. Anyone can create a model that produces an answer (eg, the NPV of a business opportunity) for a given set of assumptions. But we all know these assumptions, if they represent forecasts of the future, are wrong. Regarding the model as a simulation and playing with ranges of assumptions (testing various "what-ifs"), so that you build a full understanding of the drivers of value and risk in the business situation, is where the real value of modelling lies.

* Monte Carlo simulation is again covered only briefly and with a rudimentary DIY approach. There is no mention of the many tools available that can drive a well-designed model through probabilistic analysis.

Finally, I have to comment on the chapter on macroeconomics, which makes use of the sine function to model economic cycles. Given the discussion in the press about the current recession and whether it will be V- or U-shaped (or maybe W- or--preserve us!--L-shaped), this seems hopelessly simplistic for any practical use. This jibes with the rest of the book, which is practical. However, the example does help introduce how to parameterise a time series, in this case with the cycle time and amplitude.

Tips and tricks you want to know
This book goes beyond the basic or even advanced Excel how-to book.It focuses on business modeling and how to structure any spreadsheet you build, a topic completely missed by any other Excel book.This book has been written by people who build spreadsheet models, not programmers.

Use this book as a good reference on building spreadsheet, be it for business modeling or just plain use of Excel.For years I sought for this a book.Finally I found it.... ... Read more

Product Description
Modeling forms an implicit part of all engineering design, but many geotechnical engineers are insufficiently aware of the assumptions they make, or the nature and consequences of those assumptions. This book will enable practicing engineers to make informed decisions concerning soil model, boundary conditions and the choice of elements in Finite Element models. ... Read more

Customer Reviews (1)

Great
The book gives you the basic knowledge of modeling in geotechnical engineering.
Recommended for teachers and professors and students of postgraduate study. ... Read more

Product Description
Bayesian methods combine the evidence from the data at hand with previous quantitative knowledge to analyse practical problems in a wide range of areas. The calculations were previously complex, but it is now possible to routinely apply Bayesian methods due to advances in computing technology and the use of new sampling methods for estimating parameters. Such developments together with the availability of freeware such as WINBUGS and R have facilitated a rapid growth in the use of Bayesian methods, allowing their application in many scientific disciplines, including applied statistics, public health research, medical science, the social sciences and economics.

Following the success of the first edition, this reworked and updated book provides an accessible approach to Bayesian computing and analysis, with an emphasis on the principles of prior selection, identification and the interpretation of real data sets.

The second edition:

• Provides an integrated presentation of theory, examples, applications and computer algorithms.
• Discusses the role of Markov Chain Monte Carlo methods in computing and estimation.
• Includes a wide range of interdisciplinary applications, and a large selection of worked examples from the health and social sciences.
• Features a comprehensive range of methodologies and modelling techniques, and examines model fitting in practice using Bayesian principles.
• Provides exercises designed to help reinforce the reader’s knowledge and a supplementary website containing data sets and relevant programs.

Bayesian Statistical Modelling is ideal for researchers in applied statistics, medical science, public health and the social sciences, who will benefit greatly from the examples and applications featured. The book will also appeal to graduate students of applied statistics, data analysis and Bayesian methods, and will provide a great source of reference for both researchers and students.

Praise for the First Edition:

“It is a remarkable achievement to have carried out such a range of analysis on such a range of data sets. I found this book comprehensive and stimulating, and was thoroughly impressed with both the depth and the range of the discussions it contains.” – ISI - Short Book Reviews

“This is an excellent introductory book on Bayesian modelling techniques and data analysis” – Biometrics

“The book fills an important niche in the statistical literature and should be a very valuable resource for students and professionals who are utilizing Bayesian methods.” – Journal of Mathematical Psychology ... Read more

Customer Reviews (3)

Outstanding book!
The book is simply awesome - it covers a very wide range of topics with pretty in-depth discussion in a practical way. Combined with the freely available WinBUGS programs on the author's site, this would be pretty hard to beat. I have read quite a few Bayesian analysis books and this is definitely one of the best or simply the best. Looking forward to reading the author's latest book just published.

nice coverage of Bayesian methods
Congdon presents a very nice and modern treatment of Bayesian methods and models emphasizing implementation using BUGS or WINBUGS. The book covers Bayesian models for regression including linear, log-linear, robust and nonparametric regression. Covers association and classification, mixture models, latent variables, problems of missing data, survival analysis, hierarchical models for pooling information, time series and other correlated data methods (e.g. spatial processes), multivariate analysis, growth curves and model assessment criteria.
The book is loaded with techniques and applications covering a wide variety of topics with reasonable depth.

It also has a very large bibliography with many very relevant and useful references. But there is also a negative side to the bibliography. It was not carefully proofread and there are some annoyances as you will see the same reference listed two, three or more times in the bibliography. Also for such a nice reference text it should have included an author index as well as an ordinary index.

Gibbs sampling is one of the primary estimation techniques in the book but the details are put off until section 10.1 where we get a nice introduction to Gibbs sampling and also the Metropolis algorithm with several excellent references.

This is a good book to start implementing Bayesian methods through the MCMC technique. It contains mostly medical applications which is a nice feature for biostatisticians.

It is not clear what the purpose of this book is
One of the reasons that I am giving this book such a low review is that it's not clear from the book's title, preface, or blurb on the back cover, nor from the first chapter what the purpose of this book and its intended audience are.The back cover is outright misleading; it calls this book an "introductory book on Bayesian modeling techniques".In my opinion, this book seems to be aimed at researchers who already have a strong mastery of most of the techniques used in this book and want a comprehensive overview of the literature as well as a philosophically-sound guide of how to put this theory to use.

The book is quite well-written.The prose is clear, and the author uses just the right amount of mathematical notation and graphs.The author has a comprehensive understanding of the literature, and gives numerous and appropriate references both to justify his points, and to point the reader to further reading.

My objection to this book is that it is not a good place to go to learn any of the material--especially the theoretical material.There is not much exposition of the theory; in contrast to many books, this book provides a good justification of the "why" but a poor explanation of the "how".While I deeply appreciate the "why", I am not satisfied without both.One can have a fairly solid general background in statistics and yet still have trouble understanding this book: this book requires a solid prior background in Bayesian inference, MCMC sampling, and the appropriate areas of regression.This book would not be very useful to people who did not already know most of the material contained in it.

In my opinion, this book would be greatly improved by being more honest and forward about the purpose, intended audience, and required background.I would also deeply appreciate it if the authors would do a better job of pointing to references which are better places to learn this material--most of the references are to the primary literature, and although they do reference a few very good textbooks, there are a ton of key subjects for which they do not point the reader to any good learning sources.I might be convinced to give this book five stars if the author could address these shortcomings. ... Read more

Product Description
With every major choice we face we "run through the numbers" to guide our decision-making and legitimise the outcomes. Financial modelling helps managers to make more informed decisions and, crucially, win corporate commitment for those decisions. The ability to construct useful financial models with speed and accuracy is becoming a key skill for all executives to master.However, this is a skill few managers and businesses know how to develop. For the busy executive or finance officer, an Excel user-manual is no place to start - today's financial models have moved a long way from the original single-sheet spreadsheets that most of us feel comfortable manipulating. Modern spreadsheets allow advanced managers to adopt advanced decision-making and analysis tools, but few have time or programming skills to use the spreadsheets to the full. This book will show managers how they can extend their decision-making capabilities by mastering the use and abuse of financial models. This is the ultimate book and disk combination that will help finance professionals and business students alike to become more proficient in building Microsoft Excel models and applying corporate finance concepts.The Mastering Series are your practical guides to gaining the knowledge you need to succeed in the financial world. With the very latest practical examples, exercises and templates used throughout for ease of understanding, The Mastering Series covers every aspect of the topic from the basic essential skills you need to perform your job effectively to the more advanced skills to get you to the top. Written by practitioners for practitioners, these books give you just what you need - and nothing more - to succeed in finance. Several of the titles also come with companion CDs to allow you to put the book's ideas into action straightaway. The Mastering Series: Practical, comprehensive, essential. ... Read more

Customer Reviews (5)

Nice Sheets but Impossible to find out How to Create it?
This is the kind of book that will give you hard time trying to find out how the author really built the model. I felt the author is so proud of his work that he kept for himself the details of building the sheets but unfortunately this is what any reader would look for in any financial modeling book. I would never recommend this book for any serious person looking for a detailed book in financial modeling.

I gave the book two stars because I copied the sheets in the CD, built it again from scratch, used some of the formulas to save time in building my model which in fact gave me longer time but helped in a way or another to achieve my objective.

Needs a massive revision
This book suffers from lack of organization of the material in a cohesive way that a user can follow.While the examples on the CD are great, but following the book is quite impossible.I agree with the other reviewers, that despite over 8 years of Excel/VBA experience I could not grasp this book.

My suggestion: Learn from the examples on the CD instead.

Needs better use of the language such as English
I've been making Excel models on and off for almost 20 years.I've wished for someone to write this book badly.And now someone has!

It would be difficult to overstate the violence this book does to the English language.But I'll say this: I now have a handy rejoinder to anyone who ever claims that the Americans are killing the language.The author, Alastair Day, is from the U.K.

The net result: This book is impossible to read.It's ironic, since the entire book is geared toward helping us make our Excel presentations more, well, presentable; the author seems to have a decent understanding of how to lay out data in an attractive, informative way.Yet the book itself is rambling, vague, imprecise, confusing, and ultimately pointless.

With mangled sentences on every page, no single example can suffice, but here's one anyway:

"Another feature is the sign for the cash flows.You make fewer errors if you consider money out to be negative and money in to be positive. It means that you never have to add cash flows rather than inserting more complex positive and negative statements. In this example, the depreciation is negative in the workings; however, the expenditure saves tax so this is positive."

You might think that this makes more sense in context.I assure you: There is no context.

The book needs an editor.

Very Difficult Read and hard to follow examples
I would not recommend this book because it was very difficult to follow the examples demonstrated in the book. The author jumps around frequently and does not lay out the examples in step by step format.

I have been using Excel VBA for 10+ years and still could not figure out how most of these examples were put together.

Mastering Financial Modelling in Microsoft Excel: A practitioner's guide to applied corporate finance (2nd Edition)
Mastering Financial Modelling in Microsoft Excel: A practitioner's guide to applied corporate finance (2nd Edition) (Financial Times Series)

The book was in very good conditions! ... Read more

Product Description

New software (Lisrel and AMOS) has made the techniques of Structural Equation Modelling (SEM) increasingly available to students and researchers, while the recent adoption of AMOS as part of the SPSS suite has improved access still further.

As an alternative to existing books on the subject, which are customarily very long, very high-level and very mathematical, not to mention expensive, Niels Blunch's introduction has been designed for advanced undergraduates and Masters students who are new to SEM and still relatively new to statistics.

Illustrated with screenshots, cases and exercises and accompanied by a companion website containing datasets that can be easily uploaded onto SPSS and AMOS, this handy introduction keeps maths to a minimum and contains an appendix covering basic forms of statistical analysis.

Customer Reviews (3)

User Friendly & Practical
As someone with limited SEM experience I found this book practical and user friendly.I had previously taken a class in SEM and latent variable modeling in graduate school using great texts like Loehlin's, but it wasn't until this book that things began to sink in on a how-to basis.

I didn't rate this selection as a 5 only, because I haven't finished the book, but I liked it enough so far that I wanted to review it.

A Great Introduction
Niels book is written as an introduction to SEM and as such it is outstanding. My students learning about SEM for the first time find this to be a great conceptual and practical guide to exploring SEM in its different applications. The usual errors that occur in a first edition are corrected on the website for the text. The examples are clear and useful and the introduction to AMOS is outstanding. Data files are included so students can replicate the examples in the text. I strongly recommend this as a user friendly introduction to SEM.

Quality suffers in this book
The quality of this book is low.It has many errors making it hard to follow.I purchased the book based on the fact that the author was making the files associated with the analysis in the book available.Well the data files do not match what is in the book.Second, there is very little help in showing how to use SPSS or AMOS properly.Your better choice are the texts from Barbara Byrne. ... Read more

Product Description
In financially constrained health systems across the world, increasing emphasis is being placed on the ability to demonstrate that health care interventions are not only effective, but also cost-effective. This book deals with decision modelling techniques that can be used to estimate the value for money of various interventions including medical devices, surgical procedures, diagnostic technologies, and pharmaceuticals. Particular emphasis is placed on the importance of the appropriate representation of uncertainty in the evaluative process and the implication this uncertainty has for decision making and the need for future research. This highly practical guide takes the reader through the key principles and approaches of modelling techniques. It begins with the basics of constructing different forms of the model, the population of the model with input parameter estimates, analysis of the results, and progression to the holistic view of models as a valuable tool for informing future research exercises.Case studies and exercises are supported with online templates and solutions.This book will help analysts understand the contribution of decision-analytic modelling to the evaluation of health care programmes.ABOUT THE SERIES: Economic evaluation of health interventions is a growing specialist field, and this series of practical handbooks will tackle, in-depth, topics superficially addressed in more general health economics books.Each volume will include illustrative material, case histories and worked examples to encourage the reader to apply the methods discussed, with supporting material provided online.This series is aimed at health economists in academia, the pharmaceutical industry and the health sector, those on advanced health economics courses, and health researchers in associated fields. ... Read more

Customer Reviews (2)

Methods for health care rationing in the UK
The book reviews materials taught by this group on methods they use in submissions and reviews for the UK's National Institute of Health and Clinical Excellence. It is worth reading because it gives background on what one of several groups believes is the correct methodology for such decisions. Limitations include: (1) not acknowledging areas were there is less expert convergence of opinion (e.g., the relevance of probabilistic sensitivity analysis), (2) suboptimal program routines, and (3) couching issues with political undertones within a veil of scientific discourse (e.g., does applying their approach tacitly permit the UK government to ration healthcare based on age or disability status?).

Poorly written and confusing
I've read this book from cover to cover, and was not able to get much from it.It is a very puzzling text.

Someone who is not already familiar with the basics of economic evaluation would probably not understand the book.That's because quite a bit of background seems to be assumed, and little basic explanation is given.

Others -- like me -- who do know the basics are likely to be confused because of the poor writing style and the authors' frequent allusions to matters they do not discuss.Take pages 176-179 for instance.There, the authors say that information, once generated "has public good characteristics and is nonrival".As an economist, I know what that means; non-economists will not have a clue.On page 177, they refer to "negative threshold space" -- whatever that is?!?Fig 6.4 on page 178 is missing a curve that is referenced in the text proper.And on page 179, we learn that "... there is no such thing as perfect information but it does place an upper bound on the returns to research".If it does not exist, then how can it "place an upper bound" on anything?

The authors love to claim -- repeatedly that "clearly" something is so and that "it should be clear that" other things are true.I didn't find it so. ... Read more

Product Description
Even after the paint dries, there is still one important decision left to the modeler: how to display the finished work? In this new instructional guide, expert modeler Richard Windrow covers all the common and many less common display techniques including dioramas, simple display cases, mirror stands, domes for individual figures, deep 'picture frame' boxes, and even light boxes. This is backed by a survey of the various reference books, materials, tools and paints that can help enhance a model display. In a book crammed with pictures of beautiful models on display, from World War II tanks to modern-day rally cars, Richard Windrow instructs novice and expert modelers alike on how to take a simple model and display it as a work of art. ... Read more

Product Description

The book gives an introduction to computer-based modelling of oceanic processes. It is the first of its kind and contains over twenty practical exercises, using freely available Open-Source software, and covers a wide range of topics from long surface waves, geostrophic flows, through to the general wind-driven circulation including western boundary currents and mesoscale eddies. Results are animations rather than still images. Model codes and animation scripts for all exercises are supplied on a CD-ROM. The reader can adopt model codes for own independent studies. This author offers excellent interactive learning material for graduate students and researchers interested in dynamical processes occurring in the ocean and the computer-based modelling thereof. Only minimum mathematical background knowledge is required and the many exercises of this book are based on freely available open-source software. Complete model codes and animation scripts are provided for each exercise.

Product Description
The last few years have been a watershed for the commodities, cash and derivatives industry. New regulations and products have led to an explosion in the commodities markets, creating a new asset for investors that includes hedge funds as well as University endowments, and has resulted in a spectacular growth in spot and derivative trading.

This book covers hard and soft commodities (energy, agriculture and metals) and analyses:

• Economic and geopolitical issues in commodities markets
• Commodity price and volume risk
• Stochastic modelling of commodity spot prices and forward curves
• Real options valuation and hedging of physical assets in the energy industry

It is required reading for energy companies and utilities practitioners, commodity cash and derivatives traders in investment banks, the Agrifood business, Commodity Trading Advisors (CTAs) and Hedge Funds.

In Commodities and Commodity Derivatives, Hélyette Geman shows her powerful command of the subject by combining a rigorous development of its mathematical modelling with a compact institutional presentation of the arcane characteristics of commodities that makes the complex analysis of commodities derivative securities accessible to both the academic and practitioner who wants a deep foundation and a breadth of different market applications. It is destined to be a "must have" on the subject.”
—Robert Merton, Professor, Harvard Business School

"A marvelously comprehensive book of interest to academics and practitioners alike, by one of the world's foremost experts in the field."
—Oldrich Vasicek, founder, KMV ... Read more

Customer Reviews (8)

Worth Reading
There just aren't enough good books on commodities.This fills a gap but suffers from incompleteness.The overviews are good, but there should be more scope and depth.The modeling and pricing aspects are ok, but I expected more there too.

However, I am glad I have it.It is well written and contains a lot useful information.A good primer.

Readable and Thorough Introduction
Two aspects of Prof. Geman's book are immediately distinguishing:it is quantitative and it is not propaganda.You won't read about how you can make millions trading commodities NOW! in this book; you will read about some of the quirks of these markets and how those quirks an affects the modeling.

Equally important is that I found the book eminently readable.As one reviewer noted, there are occasionally clumsy phrases that read like transliterated French; however, I preferred Geman's chapters to those written by "guest authors."Overall, the tone and order of exposition are so engaging that I read the book completely (instead of skimming or reading only for needed information).

The only suggestion I would make is to also purchase Dunsby et al.'s book on commodities; the two are great complements.

Not good
Having done some work in commodities, and more recently in commodities derivatives, I was looking forward to reading this book.Helyette Geman has an excellent reputation in both the academic "ivory tower" and the practitioner "real world".While the book definitely attempts to cover a large and hereto unmet demand, it does not deliver a coherent, consistent and careful analysis of the commodities markets.

In offering an introductory overview of commodities spot and futures markets, the book does a decent job.Chapters 1 - 6 are probably the best chapters in the book and reflect the good understanding and thought leadership of the author.These chapters would have benefited from some careful linguistic editing.Frequently, the text reads French although the book is written in English; this linguistic dissonance is at times frustrating.

The last eight chapters are quite uneven.Each chapter is supposed to describe and introduce a commodity market, such as ags, metals, energy, etc, but few of the chapters are able to fully penetrate the material.The chapters and the material in these chapters are uneven, often bordering to the somewhat disorganized, and occasionally challenging to follow a logical flow in the exposition.Granted, the mathematics are there and they are correct for the most time (some steps in chapter 12 only make sense when you switch around the notation, which can be annoying). The chapter on gas markets is somewhat confusing and the treatment of electricity markets is very uneven. The two better chapters in the second half of the book - on metals and oil - are not written by prof Geman.

Is this a useful book?Notwithstanding the problems, it is a useful book as long as the reader and user recognizes its limitations.

Disappointing
Mrs Geman is a refernce in the commodities world and I would have expected to see less talk and more models. I defnitely would not recommend this book to any quant who have to deal with the real world!

Excellent introduction to many aspects of commodities
As I had background in equity and credit derivatives I found the book to be an excellent introduction to commodities as it coversmany aspects that I currently support at Barclays Capital as a technologist; the mathematical notations are not complicated and you can always dig deeper then the book.Definitly a book in your reference library.

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Product Description
Quantitative methods and mathematical modelling are of critical importance to fishery science and management but, until now, there has been no book that offers the sharp focus, methodological detail, and practical examples needed by non-specialist fishery scientists and managers, and ecologists. Modelling and Quantitative Methods in Fisheries fills that void. To date, methodology books in fisheries science have been limited to cookbook approach to problems; simple compilations; or expositions in which either too much theory or insufficient methodological detail is given. The text is organized into three sections: an introduction to modelling in fisheries and ecology, a straight methodology section covering a range of methods, and a section focusing on specific fields in fisheries science. This book is timely as it addresses a topic of recent debate in fisheries and ecology, describing and comparing the uses of Least Squares, Maximum Likelihood, and Bayesian quantitative methods.Designed as stand-alone units, each chapter provides examples from both classic and recent literature and comes with dedicated Excel spreadsheets that permit you to delve into every detail of the analysis. All of these spreadsheets serve as active examples, which can easily be modified and customized and can be used as templates for analyzing your own data. The spreadsheets permit you to learn at your own speed and cover the simplest linear regression to the more complex non-linear modelling using maximum likelihood.Data analysis and modelling are best learned by doing and not just by reading. This book illustrates, step by step, the analyses it covers. More detailed in terms of introductory quantitative methods and modelling as applied to fisheries than any other book available, Modelling and Quantitative Methods in Fisheries gives you the advantage by supplying the full details of the analysis so that understanding the material is a matter of following the book. ... Read more

Customer Reviews (2)

The best DIY book for fisheries modelling & quantitative methods
This book is successful in teaching and guiding the readers (especially the novice) on how to understand the often confusing concepts of modelling and quantitative methods in fisheries; not to mention the daunting math works. Other books written by great authors may be great in underlying theory and what not; but this book is the BEST in providing clear and focused step-by-step guide, even for the most complex theory. Malcolm Haddon had made modelling and quantitative methods in fisheries very easy. The math works can be followed easily and he gave enough leads between equations. The compilation of the math works in the appendices also really helps. The language used throughout the book is also very simple and to the point for non-native English speaker. The accompanying Excel spreadsheets are essential for readers to practice using simple examples. Four thumbs up for this book! :-)

A primerfor all of us
In my opinion, Malcolm Haddon has managed a "tour de force" with this book. He not only covered most of the modern methods of quantitative analysis and modelling in fisheries science but he did so in a clear and relatively simple language.His book is approachable to all biologists with a basic understanding of mathematics and statistics.Yet, he managed to cover both the theoretical underpinnings of the methods and the practical aspects of their use (options, pitfalls ... etc.). In addition, the book gives MS Excel examples of the methods which should allow those of us who are not programmers to fully appreciate the methods by using them interactively.The Excel spreadsheets are also available for download on two web sites. ... Read more

Product Description
Mathematical modelling is increasingly applicable to the practical sciences. Here, mathematical approaches are applied to the study of mechanisms of digestion and metabolism in primary animal species. Farmed animals - ruminants, pigs, poultry and fish are comprehensively covered, as well as sections on companion animals. Common themes between species, such as energy and amino acid metabolism, are explored with a worldwide approach. Leading researchers from around the world have contributed to France and Kebreab's volume to provide an integrated approach to mathematical modelling in animal nutrition. ... Read more

Product Description
Conway has a strong reputation for its model making publications, emphasized by the continued popular success of Model Shipwright journal. This new title addresses the requirements and taste of today's model makers.

Customer Reviews (1)

Excellent and inspirational guide to building your own R/C yacht
The RacingSparrow750 is a 770mm long, 1371mm tall yacht which was designed to be built using simple tools.

The construction process is as follows:
1) First, a backbone is fitted with bulkheads to form a balsawood 'skeleton'.
2) The hull is shaped using thin planking strips.
3) A thin fibreglass 'skin' is placed on the hull and impregnated with resin.
4) You'll need to build a keel bulb, make a mould of it.
5) Then, melt some lead fishing weights and cast your own lead keel bulb, shaped like a torpedo!
6) The keel is then constructed.
7) The internal structure is then built, to support the servos, r/c receiver and batteries.
8) The r/c equipment, servos, switch, wiring, etc. is installed.
9) The deck is constructed.
10) The keel is CAREFULLY installed into the hull.
11) Painting.
12) Deck fittings are then installed carefully.
13) Then, the aluminium mast is fabricated and the rigging is fitted.
14) The sails are made from Architectural Drafting Film.
15) Hatch covers, with water resistant rubber linings are fabricated.
16) The rudder is constructed.
17) The yacht is set up and fine-tuned.

The book is simple and looks easy to follow. I jumped at the chance to buy it as I've wanted something like this ever since seeing plans for a racing yacht similar to the RacingSparrow in some Readers Digest book of things to make, along with a Thames barge back in high school. Sadly, the library burnt down and I have no idea what happened to that book. Seeing Bryn Heveldt's book brought back a lot of memories and I just had to have it!

No regrets, this book will teach you how to build your own radio-controlled racing yacht with minimal tools, and (mostly) easily attainable materials and components. Buy a copy now!

[...] ... Read more