Real Options, Revised Edition: A Practitioner's Guide

Average customer rating:

NOT a practitioners guide

Excellent intro for students

Useful but hard to understand

Excellent book for the practitioner

Cecilia Gaye Uruguay

Real Options, Revised Edition: A Practitioner's Guide
Tom Copeland , and Vladimir Antikarov
Manufacturer: Texere
ProductGroup: Book
Binding: Hardcover

General | Business & Investing | Subjects | Books
General | Investing | Business & Investing | Subjects | Books
Options | Investing | Business & Investing | Subjects | Books
Professional Development | Education | Professional & Technical | Subjects | Books
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Real Options Analysis: Tools and Techniques for Valuing Strategic Investment and Decisions, 2nd Edition (Wiley Finance)

Real Options: Managerial Flexibility and Strategy in Resource Allocation

Modeling Risk: Applying Monte Carlo Simulation, Real Options Analysis, Forecasting, and Optimization Techniques (Wiley Finance)

Investment under Uncertainty

Real Options: Managing Strategic Investment in an Uncertain World (Financial Management Association Survey and Synthesis Series)

ASIN: 1587991861

Book Description

This revised edition of the highly successful book, Real Options, offers corporate decision-makers the ability to assess the profitability of their ventures and decide which avenue of expansion or investment to go down and, crucially, when to take that leap. The reader goes on a journey through real options, from the basics to more advanced topics such as options and game theory. It provides expert guidance on how to implement the theory to maximize investment opportunities by utilizing uncertainty as an asset and reducing downside risk.

Customer Reviews:

NOT a practitioners guide.......2007-07-03

I'm feeling very frustrated with this book, and here's why. The text contains sample questions, and directs to a website for the solutions. The website requires registration in order to access the material. After filling out the necessary details, I received an email from the publisher stating that I did not qualify as I am not a lecturer. I pointed out that the text claims to be a practitioners guide, not a lecturers guide. After numerour emails back and forth I've given up - I'll return it instead.

Most curiously I was never offered to purchase the material, so I can't even feel conned - just pissed-off.

Excellent intro for students.......2006-04-29

I regret not requiring this text for my students this semester. While there are a few typo's, that is not the point, as the problems are all easy to work out and solve.

A very, very good book. If you are teaching a senior level course that uses even just a few weeks of real options (like my engineering economy course) use this book! You can cover the whole book in 10 or 12 lectures. The end of chapter problems (while a trifle scant) are well done!

Useful but hard to understand.......2005-10-08

I use this book as a required book in a course on my graduate study. It is hard to understand and writen like a novel. However, it is very up-to-date. Readers should have a bit strong background on options, finance and investment.

Excellent book for the practitioner.......2005-08-21

I would rate this 5 stars from a practitioner's perspective, which is the intended audience. But, in terms of actual coverage of real options, Trigeorgis is better. However, Copeland and Antikarov do a great job with this book in introducing real options. There are sufficient examples and you get a good understanding of the topic off the bat. Copeland is a very good author, and he is one of my favorites. It's a good thing that there is a revised edition already, because the first one just had many typos.

Cecilia Gaye Uruguay.......2004-10-14

Copeland and Antikarov, demonstrate in excellent form that NPV is flawed and tends to undervalue the investment opportunities. NPV is a static calculations that fails in the consideration of the many opportunities that management has over the lifetime of a project. Unfortunately the intent of the authors of offering solutions to the questions posed at the end of each chapter as well as real options models, flaw since www.etexere.com/realoptions doesn't exist.

Project Valuation Using Real Options: A Practitioner's Guide

Average customer rating:

Picking a Project that adds Value

Project Valuation Using Real Options: A Practitioner's Guide
Prasad Kodukula , and Chandra Papudesu
Manufacturer: J. Ross Publishing
ProductGroup: Book
Binding: Hardcover

Corporate Finance | Finance | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Options | Investing | Business & Investing | Subjects | Books

Systems & Planning | Management & Leadership | Business & Investing | Subjects | Books

Project Management | Management & Leadership | Business & Investing | Subjects | Books

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All Titles | Qualifying Textbooks - Fall 2007 | Stores | Books
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ASIN: 1932159436

Product Description

"To invest or not to invest?" Business leaders frequently are faced with this question on new and ongoing projects. The challenge lies in deciding what projects to choose, expand, contract, defer, or abandon. The project valuation tools used in this process are vital to making the right decisions. Traditional tools such as discounted cash flow/net present value assume a "fixed" path ahead. But real world projects face uncertainties, forcing you to change the path often. This book introduces a more practical approach to project valuation known as real options analysis. Derived from options theory in modern finance, this approach is based on the Nobel Prizewinning work of three MIT economists.

Project Valuation Using Real Options provides a systematic approach to project valuation that will enable you to minimize investment risks, exercise flexibility in decision making, and maximize returns.

Key Features

Discusses why traditional valuation methods such as discounted cash flow, net present value and decision tree analysis are not sufficient in today's uncertain world
Explains the real options approach in a step-by-step manner which is easily understood and does not require an extensive financial background on the part of the reader
Shows you how to make the correct investment decisions, achieve strategic alignment of projects, increase project flexibility, and sustain competitive advantage
Presents multiple scenarios and real world examples from technology, telecommunications, pharmaceuticals, and other industries to illustrate success stories, challenges, and the true value of real options analysis
WAV offers free downloadable assessment tools and solutions to problems presented in the book available from the Web Added Value Download Resource Center

Customer Reviews:

Picking a Project that adds Value.......2006-10-26

This is the book for those serious about improving project selection results. This is the only book of its kind for today's project management professional. Finally, I feel I understand how to use this unique approach to evaluate all the options available in selecting projects that will significantly contribute to an organization's bottom line.

Lee R. Lambert, A Founder of PMP

Average customer rating:

This is a ýpartialý practioners giude
Errors
Delivers on content, but fails badly on presentation
Real Options Finally Deliver On Their Promise
Packed with Knowledge!

Real Options: A Practitioner's Guide
Thomas E. Copeland , Vladimir Antikarov , and Tom Copeland
Manufacturer: W. W. Norton & Company
ProductGroup: Book
Binding: Hardcover

Strategy & Competition | Management & Leadership | Business & Investing | Subjects | Books

General | Popular Economics | Business & Investing | Subjects | Books

Corporate Finance | Finance | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Options | Investing | Business & Investing | Subjects | Books

General | Business & Finance | New & Used Textbooks | Stores | Books

Book Description

Tom Copeland's landmark book Valuation: Measuring and Managing the Value of Companies sold in excess of 200,000 copies and was translated into more than 10 languages. The Financial Times declared that its "clarity and competence" made it "one of the best practitioners' guides to valuation." Now, Tom Copeland and Vladimir Antikarov offer the first practical tool explaining the latest state-of-the-art thinking sweeping the corporate world: real options. While option theory itself may have originated in the highly complex world of financial trading, the concept is now firmly placed within the corporate arena, as demonstrated by recent media coverage in The Economist, Business Week, and CFO Europe. Utilizing real options can transform the shifting business landscape into a strategic weapon by creating flexibility in decision making. Given the volatility of the new economy, real options are set to become the key management tool for today's businesses. In this book, the authors offer corporate decision makers the ability to assess the profitability of their ventures and decide which avenue of expansion or investment to go down and, crucially, when to take that leap. The authors take the reader on a journey through real options, from the basics of what they are and how to implement the ideas, through to more advanced topics such as options and game theory, and managing portfolios of options. Throughout the text, analogies, examples, sample problems, illustrations, and reviews are used to explain the techniques. Real Options provides expert guidance on how to implement the theory to maximize investment opportunities by utilizing uncertainty as an asset and reducing downside risk. The book will be accompanied by a website offering solutions to the end of chapter problems prepared by the authors together with a suite of real option models.

Customer Reviews:

This is a ýpartialý practioners giude.......2003-12-09

Be warned! This is a "partial" work.
Mr. Copeland's work is great and insightful (once you download 26 pages of errata and keep it close by). He starts off with NPV and builds up to "rainbow" options. The detail is comprehensive and the chapter end questions are challenging. And this is my beef. You have to pay The Monitor Group an additional $US 30.00 for the solutions to the problems. This is not what I would call "a parishioners guide" but another example of an American corporate rip-off!.

Due to the fact that the errata was the longest I have come across, that the editing was generally so poor, and the solutions are an additional charge, I feel that Texere owes me a complete parishioners guide to real options. By using Real option analysis or NPV, the additional costs in time and money can not justify an investment in this book. A real sunk cost for me.

Mr. Copeland, do not let your name go on such a poorly finished product again.

Errors.......2003-07-16

Is there a list available with all the errors in the book? Does anyone know where to get it?

Delivers on content, but fails badly on presentation.......2003-03-19

Content : A
The book enables the reader to understand the world of real options without having to take a course on stochastic calculus, which is good because otherwise Real Options would be too hard to sell to management. The book is rich on examples and presents the building blocks of almost every combination imaginable. More case studies though would have been a big plus.

Presentation : F
You absolutely should not read the book without first [knowing] the corrections.... There are so many errors everywhere - in formulas, calculations and text (a total of 177 for 350 pages of relevant content !!) - that I could only shake my head in disbelief. Quite obviously, nobody has made even a half-baked attempt to proof-read the book.

Real Options Finally Deliver On Their Promise.......2002-09-06

Accessible to practitioners but occasionally superficial with some flaws in structure and content real options.

Packed with Knowledge!.......2002-05-14

The phrase, "stochastic differential equations" may not trip off your tongue and you may not initially see the joy of learning that replicating portfolio value = mV + B. Yet Tom Copeland and Vladimir Antikarov guarantee that their book is a practical, everyman's guide to the sometimes serious math world of Real Options Analysis (ROA). Thanks to the availability of personal computers and modeling software, everyone can now use ROA. Before PCs, only doctoral students of finance or economics would have been safe attempting it. Sure, ROA is harder than the traditional valuation methods or Net Present Value (NPV), but real options allow you to understand the full value of an asset by taking into account the factors of flexibility, risk and uncertainty. Company case models, the theory behind ROA and equations are all showcased in the book. This can be a challenging text, but we from getAbstract strongly recommend it to all CFOs and anyone charged with evaluating business strategies.

Book Description

Becoming Bankable is the best guide to teach entrepreneurs how to successfully get money from the bank. Banker, entrepreneur and instructor Kimberly Evans explains in five steps how to become bankable.

"You don't have to be an accountant or financial pro to grasp the concepts in this book."--Kimberly Evans, Author

Read what business owners and banking professionals are saying about Becoming Bankable.

"Every entrepreneur or business owner who desires to have a relationship with a bank, and get approved for a loan should read this book."--Tracey Hawthorne, owner The Hawthorne Group

"I recommend this book to anyone who is not familiar with the lending process. Applying for a loan can be intimidating, but Becoming Bankable explains in a step-by-step, easy to read manner how to improve your chances of successfully getting through the process."--LaShaun Coard, Vice President and Commercial Lender

Author Kimberly Evans offers valuable information in addition to the five steps, such as:

How to Improve Your Credit Score
Information on Financing Start-Ups
What Items to Include in a Loan Package
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Becoming Bankable is a refreshing guide to understanding how financial institutions decide to whom to lend money.

Book Description

This Elibron Classics book is a facsimile reprint of a 1866 edition by Nicolai'sche Verlagsbuchhandlung (G. Parthey), Berlin.

Average customer rating:

Good Learning Tool

Introductory Chemistry: An Active Learning Approach (with ChemistryNOW Printed Access Card)
Mark S. Cracolice , and Edward I. Peters
Manufacturer: Brooks Cole
ProductGroup: Book
Binding: Paperback

General & Reference | Chemistry | Science | Subjects | Books
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ASIN: 0495013323

Book Description

The new Third Edition of INTRODUCTORY CHEMISTRY: AN ACTIVE LEARNING APPROACH gives you the tools you need to teach the course your way. As the book's "Active Learning Approach" subtitle suggests, the authors provide a question-and-answer presentation that allows students to actively learn chemistry while studying an assignment. This approach is reflected in three words of advice and encouragement that are repeated throughout the book: Learn It Now! When students encounter the Learn It Now! icon, an example leads them through a series of steps where they "listen" to the authors guide them step by step to the solution. As they solve the problem, they actively write each step, covering the answer with the shield provided in the book. This feature turns the common passive "read the author's solution" approach to examples into an active "work the problem while guided by the authors" methodology. As with previous editions, this text allows professors to tailor the order of chapters to accommodate their particular needs through two flexible formats--a standard paperbound edition and loose-leaf edition. This flexibility is achieved not only by carefully writing each topic so it never assumes prior knowledge, but also by including any and all necessary preview or review information needed to learn that topic. The new Third Edition has been streamlined and now integrates new features such as helpful technological resources, coached problems, and enhanced art and photography, all of which dovetail with the text's active learning approach.

Customer Reviews:

Good Learning Tool.......2005-10-04

"Introductory Chemistry" by Cracolice and Peters is very well written, and well organized as far as textbooks go.I always found their ability to explain the basic concepts of Chemistry to be superior to many of the other General Chem books on the market. I used this book in conjunction with "The Complete Idiot's Guide to Chemistry" by Ian Guch to self-teach myself almost all of the General Chem curriculum. Admittedly, I used Cracolice's work as a supplement to the Complete Idiot's Guide because Guch's book is heads above just about any textbook I have ever encountered in terms of an ability to present the "nned to know" info in an accessible framework. I only used Cracolice when I didn't feel satisfied with Guch, and was never really dissapointed. Recommended.

Active Learning Workbook for Introductory Chemistry - An Active Learning Approach

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Active Learning Workbook for Introductory Chemistry - An Active Learning Approach
Cracolice & Peters
Manufacturer: thomson Brooks/Cole
ProductGroup: Book
Binding: Paperback
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ASIN: B000M5FDVY

Introductory Chemistry: An Active Learning Approach

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Introductory Chemistry: An Active Learning Approach

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Introductory Chemistry: An Active Learning Approach Non-Infotrac Version

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Introductory Chemistry: An Active Learning Approach Non-Infotrac Version
Mark S. Cracolice , and Edward I. Peters
Manufacturer: Brooks/Cole Pub Co
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Binding: Paperback

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Book Description

This exciting new book discusses the morphodynamic processes that link coastal physical oceanography to the geomorphology and geologic evolution of inner continental shelves. Topics include:oclassical models of inner shelf or "shoreface" equilibriumothe geological history of inner shelvesoinner shelf physical oceanography, bottom boundary layer dynamics on the inner shelfoinner shelf sediment transport processesothe development, maintenance, and evolution of inner shelf morphologyThroughout the book, theories, concepts, and models are grounded by application to real-world examples. Specifically, comparsions are made among four cases: Middle Atlantic Bight, the Louisiana Shelf, the shelf off southeastern Australia, and the epicontinental shelf of the Gulf of Bohai, China.

Book Description

This book presents a survey of the theory of coherent states, wavelets, and some of their generalizations, emphasizing mathematical structures. The point of view is that both the theories of both wavelets and coherent states can be subsumed into a single analytic structure. Starting from the standard theory of coherent states over Lie groups, the authors generalize the formalism by associating coherent states to group representations that are square integrable over a homogeneous space; a further step allows one to dispense with the group context altogether. In this context, wavelets can be generated from coherent states of the affine group of the real line, and higher-dimensional wavelets arise from coherent states of other groups. The unified background makes transparent otherwise obscure properties of wavelets and of coherent states. Many concrete examples, such as semisimple Lie groups, the relativity group, and several kinds of wavelets, are discussed in detail. The book concludes with physical applications, centering on the quantum measurement problem and the quantum-classical transition. Intended as an introduction to current research for graduate students and others entering the field, the mathematical discussion is self- contained. With its extensive references to the research literature, the book will also be a useful compendium of recent results for physicists and mathematicians already active in the field.

Customer Reviews:

A demanding work by true experts and enthusiasts.......2007-10-05

The authors of this book are probably the world's most knowledgeable experts on the topic. They have a tremendous enthusiasm for their subject and there is great beauty in the way they present it. Coherent states arise from quantum mechanics and allow the user to take a classical (non-quantum) view of quantum states in physics. Wavelets, on the other hand, arise from signal and image processing and provide a time-frequency view of a signal, showing which frequencies are present in a signal at each time point (or which spatial scales are present in an image at each location). The book ties these two theories together very elegantly, thereby showing the full power of coherent states. The book assumes extensive knowledge of quantum mechanics and pure mathematics, and demands a lot of the reader.

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