Financial Modeling, 3rd Edition |  | Author: Simon Benninga
Publisher: The MIT Press
List Price: $85.00
Buy New: $55.00
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Seller: toluwalopeajibewa
Rating:  16 reviews
Sales Rank: 4596
Media: Hardcover
Edition: 3
Pages: 1168
Number Of Items: 1
Shipping Weight (lbs): 3.9
Dimensions (in): 9.2 x 7.2 x 1.9
ISBN: 0262026287
Dewey Decimal Number: 332.015118
EAN: 9780262026284
ASIN: 0262026287
Publication Date: February 29, 2008
Availability: Usually ships in 1-2 business days
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Product Description
Too often, finance courses stop short of making a connection between textbook finance and the problems of real-world business. Financial Modeling bridges this gap between theory and practice by providing a nuts-and-bolts guide to solving common financial models with spreadsheets. Simon Benninga takes the reader step by step through each model, showing how it can be solved using Microsoft Excel.
The long-awaited third edition of this standard text maintains the "cookbook" features and Excel dependence that have made the first and second editions so popular. It also offers significant new material, with new chapters covering such topics as bank valuation, the Black-Litterman approach to portfolio optimization, Monte Carlo methods and their applications to option pricing, and using array functions and formulas. Other chapters, including those on basic financial calculations, portfolio models, calculating the variance-covariance matrix, and generating random numbers, have been revised, with many offering substantially new and improved material. Other areas covered include financial statement modeling, leasing, standard portfolio problems, value at risk (VaR), real options, duration and immunization, and term structure modeling. Technical chapters treat such topics as data tables, matrices, the Gauss-Seidel method, and tips for using Excel. The last section of the text covers the Visual Basic for Applications (VBA) techniques needed for the book. The accompanying CD contains Excel worksheets and solutions to end-of-chapter exercises.
Praise for the previous editions:
"Benninga has a clear writing style and uses numerous illustrations, which make this book one of the best texts on using Excel for finance that I've seen."
—Ed McCarthy, Ticker Magazine
"The author describes this as a 'cookbook' and that is a good analogy.... Its breadth is extensive, covering simple present valuing and cost of capital ... to the likes of real options and early exercise of American-style options.... A worthwhile acquisition."
—Paul Dentskevitch, Risk Magazine
"Financial Modeling is highly-recommended to readers who are interested in an introduction to basic, traditional approaches to financial modeling and analysis, as well as to those who want to learn more about applying spreadsheet software to financial analysis."
—Edward Weiss, Journal of Computational Intelligence in Finance
"Financial Modeling belongs on the desk of every finance professional. Its no-nonsense, hands-on approach makes it an indispensable tool."
—Hal R. Varian, Dean, School of Information Management and Systems, University of California, Berkeley
"This is applied finance theory for the professional at its best. As a student, I and countless others learnt the intricacies of Lotus and financial theory from Professor Benninga's first book—Numerical Techniques in Finance. Now, as a professional, I do not have to 're-invent the wheel' in Excel. An invaluable guide. A must for all financial analysts."
—Vikas Nath, Global Strategist, Emerging Equity Markets, Union Bank of Switzerland, London
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| Customer Reviews:
Showing reviews 1-5 of 16
 Solid and Technical October 2, 2009
Marguerite A. Mcafee (Richmond, VA)
I was looking for a detailed book on financial modeling that would provide adaptable formulas and ideas. I found the book super-technical and hard to adapt to the real estate investment banking modeling, but it would be great for corporate modelers.
This is not a book for beginners.
Great September 11, 2009
V. Isoz (Suisse)
It's the best book i know for the moment in english (there is a better one in french...) in this area. I bought 4 other books that are in the trash now and i keep this one.
 Excellent introductory financial modeling book July 17, 2009
C. Ang (Chicago, IL)
2 out of 2 found this review helpful
There are different levels of financial modeling, and this book is excellent for the novice modeler. The author discusses how to create spreadsheet models of financial statements and then moves on to more advanced financial topics, such as mean-variance optimization and binomial trees.
An advantage of using this book is that it teaches you financial modeling using Excel, which most people have or have access to. This means that you can use most of the tools that are used in this book, and you can share your files with other people. If you use programs such as MATLAB or SAS, it is likely that you can only present the results of your analysis without sharing the programs or data. In Excel, all your data and calculations are available for everyone, which makes sharing much easier.
There are many interesting things that are taught in this book. An example of a neat trick you will learn in this book includes the use of the LINEST function and other regression-related functions. These functions are dynamic in that the results of the regression change when you change your data, unlike the use of the Analysis Toolpak's Regression feature which you have to re-run every time you make a change to your data.
In addition, for those that want to harness more of Excel's modeling power, the author includes sections with VBA codes. VBA codes allow the user to program and tell Excel how to perform tasks. For example, you can build your own function that can calculate option values rather than having to input or edit a formula repeatedly. More serious students should attempt to learn to program in VBA. For most purposes, an advanced modeler in Excel can create programs that would yield similar results to those of more powerful software like MATLAB.
Financial Modeling, 3rd Edition - Benninga April 3, 2009
George Crowell
2 out of 2 found this review helpful
Benninga has managed to produce a manuscript that fully qualifies as both an excellent and easily-read text book as well as an outstanding reference manual. And don't let its size put you off. Of the nearly 1,200 pages, only 200 - 300 would serve as a comprehensive review of general financial modeling concepts. The remainder highlight the more esoteric aspects of modeling that would be of interest to analysts in specialized situations, as well as supporting skills such as Visual Basic.
This is in my opinion a required tool for anyone who has any involvement in financial analysis or modeling.
A good detailed book on Financial Modeling January 8, 2009
Essa A. Bohijji (Bahrain)
1 out of 1 found this review helpful
This was recommended by a friend, and it was worth it. A good detailed book on financial modeling that can help anyone get started and understand the subject better.
Showing reviews 1-5 of 16
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