Financial Markets and Martingales: Observations on Science and Speculation

Is it really possible to make money on the financial markets? This is just one of the questions posed in this practical and thought-provoking book, winner in the original french version, of the Best financial economics book prize 1999 from the Institute de Haute Finance, and the Prix FNAC-Arthur Anderson du meilleur livre d entreprise 2000 . Starting with games of chance, from which probability theory was born, Nicolas Bouleau explains how the financial markets operate, and demonstrates how the application of mathematics has turned finance into a high-tech business, as well as a formidable and efficient tool. The human side of finance is also considered, with a look at the influence of the trader and the working relationships that are woven into the market rooms. Concise and accessible, with no previous knowledge of finance or mathematics required, the aim of this book is simply to articulate the main ideas and put them into perspective, leading readers to a fresh understanding of this complex area.