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Financial Models Using Simulation and Optimization II
Investment Valuation, Options Pricing, Real Options & Product Pricing Models
By Wayne Winston
 Financial Models Using Simulation and Optimization I WAYNE L. WINSTON & TERENCE REILLY This informative, hands-on book shows you how to harness the power of Microsoft Excel and Palisade Corporation's DecisionTools add-ins, including @RISK, StatTools, Evolver, RISKOptimizer, PrecisionTree, NeuralTools, and TopRank. You will learn innovative techniques that will give you the edge in solving real-world financial problems. The fourth edition has been completely revised with new analyses, new Excel example models, and updated data sets. In addition to reorganizing the chapters for quicker learning, new chapters were added to highlight the latest features of DecisionTools, such as efficient frontiers and copulas. Section 1 - Modeling Relationships This section uses statistical procedures to model relationships. For example, we show how to test investment strategies and how to search for market inefficiencies. We use StatTools and NeuralTools throughout Section 1. Section 2 - Decision Analysis and Optimization In this section we model financial systems and find optimal solutions. For example, we learn how to immunize bond portfolios against interest-rate risk; how to minimize the volatility of stock portfolios; and how to manage investments over many periods. We use PrecisionTree and Evolver throughout Section 2. Section 3 - Risk Analysis and Simulation In this section we model those situations when we have uncertainty about the outcomes. Uncertainty and risk analysis are key components in financial models. We learn how to model profitability of new products; how to make trade-offs between risk and return; and how to model discrete and continuous future stock (asset) prices. The pricing of financial derivatives, such as options, is covered, as well as real option theory to evaluate corporate investment opportunities. Value at risk (VaR) analysis for investments is also included. We use @RISK, RISKOptimizer, and TopRank throughout Section 3. The modular nature of the chapters allow you to skip around and investigate models that appear interesting and make the book suitable for self-study or executive education. Portions of the book have been used to teach executives at Eli Lilly, GM, NCR, PriceWaterhouseCoopers, Bristol-Myers Squibb, and Deloitte & Touche. In addition, the text has been class tested for several years in MBA elective courses at both Indiana University and Babson College. The included DVD includes a trial version of Palisade software and a link to download all example models used in the text. Price: \$59.95 Financial Models Using Simulation and Optimization II WAYNE L. WINSTON First published in 1998, Financial Models Using Simulation and Optimization quickly became one of the most widely used references for the application of simulation and optimization techniques to financial problems. Now, author Wayne Winston has done it again with a totally new volume! Financial Models II is packed with real-life examples that demonstrate how @RISK, Evolver and Excel can be used to make better financial decisions. Winston's straightforward, step-by-step approach makes his innovative techniques accessible to anyone who uses Microsoft Excel. Like its predecessor, Financial Models II features years' worth of experience in setting up and solving complicated financial problems using Microsoft Excel and DecisionTools software. You will learn valuable analytical techniques that will help you get the most out of @RISK, Evolver, and Excel. A wide variety of financial examples are presented and solved step-by-step in over 65 chapters. This isn't a book of long-winded theoretical discussions. It's a practical, step-by-step guide that you can use immediately to build the models that you need! Price: \$59.95 Save money when you buy these two popular titles together. Price: \$99.95

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