Prentice Hall - Financial Times

The book is a story of the derivatives industry. The evolution of the industry into its current form has been charted. In the process of doing so the author has discussed all major innovations in the industry, their advantages and disadvantages.

He discusses the theoretical development (models etc) related to the industry.

Also discussed are the various disasters that have happened in the global financial industry.

The author seems to be someone totally frustrated with the industry as such and maybe this frustration is what has resulted in this masterpiece. The concepts related to the industry, and cases related to the industry have been discussed in a very entertaining fashion.

Entertaining it is, due to the brilliant wit of the author, cracking the best quality sarcastic jokes at the least expected places. Entertaining it is, because almost every major theoretical proposition related to portfolio management and options, futures and other derivatives has been torn apart ruthlessly. Entertaining it is because similar treatment has been meted out to the biggest financial institutions in the world, and to other major companies which have dabbled with the industry.

The book runs into 350 odd pages now. It would have been a tome as thick as the vedas had it been written after the current global meltdown ;)