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Readers reviews of The Vest Pocket Guide to Stock Brokerage Math

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This is a handy workbook for all types of financial calculations. They are all designed to be completed on any simple calculator and can also be quickly transferred into Excel formulas. Unfortunately the book doesn't show you the Excel coding.

 

Calculations covered include dividend yield, margin accounts, options pricing, accrued interest and rights offerings. Fundamental ratios are US based such as current ratio, margin of profit, payout ratio etc. Traders working with US balance sheets will find these calculation tools very useful.

 

The book is particularly useful in explaining bond and bill calculations, both corporate and treasury. Australian traders will find many useful shortcuts. Australian traders active in US markets will find this book a lifesaver.

 

The calculations unintentionally expose an interesting rort in US Markets by providing the decimal equivalents to tick pricing at 1/16, 1/8, 1/4 etc. This imprecision has the potential to cream more off the top of a trade than brokerage or slippage. A stock selling at $45.50 is quoted as 45 1/2 with the next price at 45 5/8, then 45 3/4. These are price gaps of $0.125 which makes precision trading difficult.

 

 

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