Managerial-finance

~~~~~You are wrong if you think that this is a pure accounting or finance book. I am taking Profoessor Ryan's class of "Finanial Instruments and Financial Institutions" in NYU right now. The stength of Professor Ryan in the book is his in-depth understanding and effective description of economics, finance and accounting issues. So many case studies covered in the book blend with macroeconomic events, financial implication and accounting disclosures. Therefore, you need some background~~ knowledge of accounting and finance to fully take advantage of his insights in the book. This book discusses the yield curve, interest risk, credit and market risks, and fair value accounting for financial instruments. It analyzes the finacial and accounting issues for thrifts, mortgage bank, securitizations, commercial banks, derivatives and hedging, lessors and lease accountings. After reading through the book, you will have clear pictures about each finnancial instruments and institutions.~~ You won't be afraid of these topics any more. This book can be used as an advanced textbook for finance or accouting majors in business school, or a reference book if you are interested in financial and accounting issues of the above topics.~

This is a good big picture book. Additional reference books will be required to fully appreciate theory.

Book integrates various segments of investment banking to give the reader a overall perspective. Simple to read with a practical outlook. First few chapters appx 100 pgs too much of elementary reading...overall good big picture book

J. Michael Payte brings to the financial engineering arena a viewpoint that one can only surmise after having been at the "top". Dangerous though the top may be, he seems to have a solid grasp on what it takes to succeed.