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Table of Contents
Part I: Income Taxes, Lottery, and Lion Hunting-Elementary Mathematics
1. "We Take over Your VAT!" How Big Is the Actual Discount?
2. Millions Every Week, but Not for Me. Six Numbers in the Lottery
3. Where Did My Money Go? Loss Compensation After a Price Drop
4. How Do You Catch a Lion? Finding a Zero by Halving the Interval
5. Upside Down and Up Again. How Many Zeros Does a Polynomial Have?
6. "According to Adam Ries, that Comes to..." About Fusti, Freight, and Cartage
7. How to Invest? The Cost-Average Effect
8. 32a, the Politician and the Coaster. Calculating the Income Tax of a Person
9. This Makes the Taxpayer Shudder. What Does "Cold Progression" Actually Mean?
Part II: Interest Rates, Prices, Yields-Classical Financial Mathematics
10. A Fair Deal? Or: There's Nothing Like Starting Young
11. Should I Pay the Bill Quickly? Cash Discount
12. The Children of the Interest Rate Are the Grand-Children of the Capital. Compound Interest
13. When Will Scrooge McDuck Be Satisfied? The Doubling Problem
14. How Real Is Nominal? The Actual Rate of Return on a Principal
15. "Have I Learned to Calculate Correctly?" Why Dr. X. from Gifhorn Was Wrong
16. "What, I Have to Pay that Long?" Full Repayment of a Loan
17. The Widow of the General and the Painter. A Loan à la Chekhov
18. Why Does Nominal not Equal Effective? The Effective Interest Rate of an Immediate Loan
19. Sandwich with a Car Inside. Financing with Hooks and Eyes
20. The Assiduous Clerk. Capital Certificates and Federal Bonds
21. 7500 Euros Monthly: A Lifetime. Or Better Yet, Two Millions Right Away?
22. Financing a Car with Zero Percent: A Bargain?- 23. Interest Payments Anytime: Isn't That Wonderful? Continuous Compounding of Interest
24. Bearer Bonds and Coupons. Bond Prices and Returns of Bonds
25. Oops! A Law Containing Formulas and Numerical Methods? The Calculation of the Effective Interest Rate According to the German Price Indication Ordinance
Part III: Financial Products and Strategies-Modern Financial Mathematics
26. Fair Prices and Market Prices
27. The Short End and the Long End. Yield Curves, Spot Rates, and Forward Rates
28. Simple as Vanilla Ice Cream. On Standard Financial Products
29. Exchanges for Mutual Benefit. Swaps
30. The Telescope That Has Been Pushed Together. How to Calculate a Swap Rate?
31. Pull out Yourself of the Swamp by Your Own Hair. The Bootstrapping Method
32. No Risk, No Fun! Risk Indicators of Fixed-Income Securities
33. Sleep Well Despite Turbulent Markets? The Immunization Property of the Duration
34. Rising Like a Phoenix from the Ashes. New Shine for Your Depot?
35. The Crop of Standing Corn. Are Speculators Really Bad People?
36. Orange Juice and Pork Bellies. Forward Transactions
37. Empty Pockets and No Money. About Short Sales and No-Arbitrage Portfolios
38. Earning Money Without Capital and Risk. Arbitrage Transactions and Fair Prices
39. Fibonacci and His Rabbits. A Few Words About Technical Analysis
Part IV: Only Rights, No Obligations-Options
40. A Trip Around the World: Different Types of Options
41. Two Triumvirates: From Arbitrage to Speculation
42. Nothing Is for Free: The Arbitrage Principle
43. How Much Do I Have to Pay for My Right? Option Pricing According to Black and Scholes
44. It Takes Two: Option Pricing in the Binomial Model
45. Safe Behind the Hedge: Hedging of Stock Positions
46. Wrong Calculation-Right Result: Can This Really Be? The Correct Derivation of the Risk Measure Delta
47. The Greeks and the Risk: About Risk Indicators for Stock Options
48. "In, At and Out of the Money" The Language of the Actors at the Financial Markets
49. Volatility Determines the Option Price-Really?
50. Speculating with Options: Rich by Using Leverage?
Part V: It Is All in the Mix-Portfolio Theory
51. A Portfolio of Shares
52. Risky Investments: Everything Under Control
53. Negative with a Positive Impact: Risk Reduction Using Correlation
54. Above Your Needs and Maybe Even More? The CPPI Strategy
55. High Risk Pays Off!? Sometimes: On Strategies in Stock Market Games
Part VI: The Collective Against Risks-Insurance
56. A Duo Taming Uncertainty: The Law of Large Numbers and the Central Limit Theorem
57. Do You like Classics? A German Life Insurance Concept
58. More Opportunities: Dynamic Hybrid Products
59. A Million Dollar Roulette in the Financial and Insurance Market? The Monte Carlo Method
60. Insurance for Millions-Millions for the Insurer
61. CRK: One Number for Risk and Return. Classification of Pension Products
62. Living with the Mortality Table
63. What Relates Honoré de Balzac and 30 Young Geneva Girls with Life Annuities and Life Tables?
64. Sometimes It Clicks and Sometimes Not. A Riester Pension Product with Index Participation
Part VII: Theoretical Foundations-Classical and Stochastic Financial Mathematics
Classical Financial Mathematics
66. Stochastic Financial Mathematics.
1. "We Take over Your VAT!" How Big Is the Actual Discount?
2. Millions Every Week, but Not for Me. Six Numbers in the Lottery
3. Where Did My Money Go? Loss Compensation After a Price Drop
4. How Do You Catch a Lion? Finding a Zero by Halving the Interval
5. Upside Down and Up Again. How Many Zeros Does a Polynomial Have?
6. "According to Adam Ries, that Comes to..." About Fusti, Freight, and Cartage
7. How to Invest? The Cost-Average Effect
8. 32a, the Politician and the Coaster. Calculating the Income Tax of a Person
9. This Makes the Taxpayer Shudder. What Does "Cold Progression" Actually Mean?
Part II: Interest Rates, Prices, Yields-Classical Financial Mathematics
10. A Fair Deal? Or: There's Nothing Like Starting Young
11. Should I Pay the Bill Quickly? Cash Discount
12. The Children of the Interest Rate Are the Grand-Children of the Capital. Compound Interest
13. When Will Scrooge McDuck Be Satisfied? The Doubling Problem
14. How Real Is Nominal? The Actual Rate of Return on a Principal
15. "Have I Learned to Calculate Correctly?" Why Dr. X. from Gifhorn Was Wrong
16. "What, I Have to Pay that Long?" Full Repayment of a Loan
17. The Widow of the General and the Painter. A Loan à la Chekhov
18. Why Does Nominal not Equal Effective? The Effective Interest Rate of an Immediate Loan
19. Sandwich with a Car Inside. Financing with Hooks and Eyes
20. The Assiduous Clerk. Capital Certificates and Federal Bonds
21. 7500 Euros Monthly: A Lifetime. Or Better Yet, Two Millions Right Away?
22. Financing a Car with Zero Percent: A Bargain?- 23. Interest Payments Anytime: Isn't That Wonderful? Continuous Compounding of Interest
24. Bearer Bonds and Coupons. Bond Prices and Returns of Bonds
25. Oops! A Law Containing Formulas and Numerical Methods? The Calculation of the Effective Interest Rate According to the German Price Indication Ordinance
Part III: Financial Products and Strategies-Modern Financial Mathematics
26. Fair Prices and Market Prices
27. The Short End and the Long End. Yield Curves, Spot Rates, and Forward Rates
28. Simple as Vanilla Ice Cream. On Standard Financial Products
29. Exchanges for Mutual Benefit. Swaps
30. The Telescope That Has Been Pushed Together. How to Calculate a Swap Rate?
31. Pull out Yourself of the Swamp by Your Own Hair. The Bootstrapping Method
32. No Risk, No Fun! Risk Indicators of Fixed-Income Securities
33. Sleep Well Despite Turbulent Markets? The Immunization Property of the Duration
34. Rising Like a Phoenix from the Ashes. New Shine for Your Depot?
35. The Crop of Standing Corn. Are Speculators Really Bad People?
36. Orange Juice and Pork Bellies. Forward Transactions
37. Empty Pockets and No Money. About Short Sales and No-Arbitrage Portfolios
38. Earning Money Without Capital and Risk. Arbitrage Transactions and Fair Prices
39. Fibonacci and His Rabbits. A Few Words About Technical Analysis
Part IV: Only Rights, No Obligations-Options
40. A Trip Around the World: Different Types of Options
41. Two Triumvirates: From Arbitrage to Speculation
42. Nothing Is for Free: The Arbitrage Principle
43. How Much Do I Have to Pay for My Right? Option Pricing According to Black and Scholes
44. It Takes Two: Option Pricing in the Binomial Model
45. Safe Behind the Hedge: Hedging of Stock Positions
46. Wrong Calculation-Right Result: Can This Really Be? The Correct Derivation of the Risk Measure Delta
47. The Greeks and the Risk: About Risk Indicators for Stock Options
48. "In, At and Out of the Money" The Language of the Actors at the Financial Markets
49. Volatility Determines the Option Price-Really?
50. Speculating with Options: Rich by Using Leverage?
Part V: It Is All in the Mix-Portfolio Theory
51. A Portfolio of Shares
52. Risky Investments: Everything Under Control
53. Negative with a Positive Impact: Risk Reduction Using Correlation
54. Above Your Needs and Maybe Even More? The CPPI Strategy
55. High Risk Pays Off!? Sometimes: On Strategies in Stock Market Games
Part VI: The Collective Against Risks-Insurance
56. A Duo Taming Uncertainty: The Law of Large Numbers and the Central Limit Theorem
57. Do You like Classics? A German Life Insurance Concept
58. More Opportunities: Dynamic Hybrid Products
59. A Million Dollar Roulette in the Financial and Insurance Market? The Monte Carlo Method
60. Insurance for Millions-Millions for the Insurer
61. CRK: One Number for Risk and Return. Classification of Pension Products
62. Living with the Mortality Table
63. What Relates Honoré de Balzac and 30 Young Geneva Girls with Life Annuities and Life Tables?
64. Sometimes It Clicks and Sometimes Not. A Riester Pension Product with Index Participation
Part VII: Theoretical Foundations-Classical and Stochastic Financial Mathematics
Classical Financial Mathematics
66. Stochastic Financial Mathematics.