Rating: 
- Great Real Life Commentary on Financial Markets
This book can be seen as consisting of 2 parts:
1) Arb basics which "everyone knows" (assuming you have a serious interest in the field). These include description of financial instruments, their pricing and valuation, arb strategies, etc. This information is available from many other sources.
2) Author's commentary on these instruments and strategies (drawing from hands-on arb experience). This is the real value of this book. The author's writing is clear and witty. I really enjoyed it. This is certainly not a book for "dry finance course" as one reviewer noted. Given the subject matter (very abstract and dry in itself) the book is a suprisingly good read. Also, this is a real-life book written by a real-life practitioner. It provides you with many useful insights into the financial markets.
A great supplement to the advanced course in finance.
Rating:
- Complete Arbitrage MathBook
I am a 18 year old College Freshman, majoing in Finance & Economics. This book was very good but like the opening few pages state this is meant for junipr pro's. The Math is about on the level of statistics and applied calc. I know a little of each, as I have not taken the classes yet, but I can see where the formulas are getting at. I am sure in a few years I will greatly apperciate all the info and math this book provides.
Rating:
- definitely not technical !
I bought this book in order to improve my knowledge on arbitrage. I was expecting to find some practical applications on the market like on (equity) pairs trading, yield curve arbitrage. The book provides a very broad and general overview on the concept of arbitrage and it is a very good book for someone who wants to understand the meaning of arbitrage and how and where he can do it. If you already know what arbitrage is, you dont need to read it.
Rating:
- good introduction, but lack of depth...
This is a broad introduction into equity arbitrage world, but not much depth is provided. There is a better book on risk arb by Moore. I am still looking for a "real" book on statistical arb.
Rating: - Very comprehensive, but may not suit all time frames
Reverre has written a very comprehensive book, covering all instruments. Quite importantly, he has gone beyond conventional merger arbitrage for the equity markets, and details both fundamentally based equity arbitrage techniques and statistical arbitrage, based on return correlations. The optimal audience is probably financial institutions with a speculative timeframe of a few days and upwards. The outlined methodologies do not include intraday arbitrage; however, the astute trader could probably modify the interday strategies to the intraday trading horizon, by constantly monitoring evolving bid and ask spread differentials at the microscopic level, rather than monitoring conventional interday spreads (without placing too much, if any, emphasis on bid-ask differentials).
For the private trader, the book does provide some food for thought; however, unless a private trader has access to cutting edge technology and the appropriate price feeds, he will not be able to effectively execute too many of the posited strategies.
- Great Real Life Commentary on Financial MarketsThis book can be seen as consisting of 2 parts:
1) Arb basics which "everyone knows" (assuming you have a serious interest in the field). These include description of financial instruments, their pricing and valuation, arb strategies, etc. This information is available from many other sources.
2) Author's commentary on these instruments and strategies (drawing from hands-on arb experience). This is the real value of this book. The author's writing is clear and witty. I really enjoyed it. This is certainly not a book for "dry finance course" as one reviewer noted. Given the subject matter (very abstract and dry in itself) the book is a suprisingly good read. Also, this is a real-life book written by a real-life practitioner. It provides you with many useful insights into the financial markets.
A great supplement to the advanced course in finance.
Rating:
- Complete Arbitrage MathBookI am a 18 year old College Freshman, majoing in Finance & Economics. This book was very good but like the opening few pages state this is meant for junipr pro's. The Math is about on the level of statistics and applied calc. I know a little of each, as I have not taken the classes yet, but I can see where the formulas are getting at. I am sure in a few years I will greatly apperciate all the info and math this book provides.
Rating:
- definitely not technical !I bought this book in order to improve my knowledge on arbitrage. I was expecting to find some practical applications on the market like on (equity) pairs trading, yield curve arbitrage. The book provides a very broad and general overview on the concept of arbitrage and it is a very good book for someone who wants to understand the meaning of arbitrage and how and where he can do it. If you already know what arbitrage is, you dont need to read it.
Rating:
- good introduction, but lack of depth...This is a broad introduction into equity arbitrage world, but not much depth is provided. There is a better book on risk arb by Moore. I am still looking for a "real" book on statistical arb.
Rating:
- Very comprehensive, but may not suit all time framesReverre has written a very comprehensive book, covering all instruments. Quite importantly, he has gone beyond conventional merger arbitrage for the equity markets, and details both fundamentally based equity arbitrage techniques and statistical arbitrage, based on return correlations. The optimal audience is probably financial institutions with a speculative timeframe of a few days and upwards. The outlined methodologies do not include intraday arbitrage; however, the astute trader could probably modify the interday strategies to the intraday trading horizon, by constantly monitoring evolving bid and ask spread differentials at the microscopic level, rather than monitoring conventional interday spreads (without placing too much, if any, emphasis on bid-ask differentials).
For the private trader, the book does provide some food for thought; however, unless a private trader has access to cutting edge technology and the appropriate price feeds, he will not be able to effectively execute too many of the posited strategies.