Interest Rate Swaps and Other Derivatives (Columbia Business School Publishing) Illustrated Edition

Corb's "Interest Rate Swaps and other Derivatives" is all-purpose: a Wall Street reference manual, an introductory to intermediate textbook for business school and financial engineering students, and an entertaining and accessible read for all audiences interested in the $500 trillion rate derivatives market.There are several key elements of this book that are distinct from most other reference books. Firstly, the breadth of topics covered is ideal for market practitioners, and in my fixed income advisory role at an investment bank, I particularly appreciate the organization of the book by product, and the context the book provides for the evolution of different models. There is also some highly relevant discussion about relative value trades and asset swaps, which are essential concepts for money managers and hedge funds.Second, the content is timely. The explosion of structured rate derivatives has received much less coverage in the literature than credit derivatives, and Corb's treatment of forward vol and curve options is superb. There is even a section detailing the implications of Dodd Frank regulations and clearinghouses.Finally, given how broad the intended audience is, the text is quite rigorous and comprehensive. It provides intuition for price movements and hedging strategies, and for those who are academically inclined, there are also sample problems at the end of each section that help to elucidate key concepts. The appendix is very clear and the refresher on option pricing/greeks is particularly useful.Finally, a perfect and comprehensive manual for students, traders, and portfolio managers alike.

Best Book of Rates Derivatives Trading's Practical Knowledge => Strongly RecommendedI am a junior rates trader determined to one day have my own PL trading interest rate derivatives. I just finished reading Prof. Corb's book, and now I am regarding it as my treasure. This book is composed by highly practical & enlightening examples. The expression is so conversational to well explain complex scenarios while spare no efforts to use repetitive emphasis on details requiring us to pay strong attention.Highlights are the Annotations inside, which either deepens your understanding or instantly reminds you that previous chapter's knowledge is applied here. Really really thoughtful and reader-friendly. I believe it will be a catalyst for me to realize my dream of being a real Rates Derivatives Trader. It will always be kept on my desk.- BChen

Corb's conversational style and presentation of the material in a working context are why I strongly recommend this book to practitioners and students looking to gain a more intuitive understanding of derivatives. As a student, this book will expose you to the language of the business and bring you into the mind of a trader / marketer / structurer. If you happen to have a seasoned knowledge of derivatives, this book will enhance the sophistication of your thinking.Potential audience:- Sales and Trading- Risk Management- Consulting- Academia / College- Legal ProfessionOne last comment: don't overlook the footnotes - there are definitely some gems!

Great book overall. It's written at the MBA level, which means it's pretty straightforward and easy to understand. The only thing keeping me from giving it 5 stars is that the Appendix for the end-of-chapter questions provides solutions to only some of the questions. This can be frustrating because you have no idea whether you understand the concept behind the questions. I hope in the next edition the author includes everything, otherwise this is the best swap book I have read to date (as a novice to the industry).

This book needs a revision. Very few books explain well the multicurve contructions.. this book needs to do that.The book sticks to pre-2008 single curve construction. But needs an upgrade on those chapters.

this class and this book changed my life. It sounds absurd, but it's true. If you work in the business someone on your trading floor has taken corb's class at CBS and this book is the MBA course book and then some. If you only buy one book that will move the needle for your love of rate derivatives buy this one.

This book is a must have for anyone in the rates business or anyone who touches the rates markets. It blends perfectly the theory and the intuition behind the products. What is great about this book is that it doesn't focus on just academic theory or pure practice but strikes the right balance between the two. It is a must have!

This is a nice book with some useful things. In particular, it is hard to find worked examples of pricing for interest rate derivatives under the normal model.