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From the reviews:
"This book presents a comprehensive overview of how statistics can be used to solve problems in quantitative finance. The breadth and depth of the topics covered is impressive.... The authors have succeeded in writing a book that bridges the gap between theory and practice in financial markets.... how this book links finance theory to market practice via statistical modeling makes it original and fresh. As a result the book reflects the power of the intergrarion of financial and statistical methods in finance." (Lasse Koskinen, International Statistical Review, 2009, 77, 1)
"The book is divided into two parts: the first part introduces basic statistical methods and financial applications. ... Part two deals with advanced topics in quantitative finance. ... The book is not only useful for financial market economists, but, due to the wide range of special topics in the second part, also for students in the fields of engineering, mathematics, and statistics." (Herbert S. Buscher, Zentralblatt MATH, Vol. 1149, 2008)
“This text by Lai and Zing was completed as the tumult of 2008 was unfolding, but its methods are...timeless, and future students and teachers can benefit in better times from the clear and cohesive exposition that this text provides. ...a useful text that anyone who teaches this material will want to consider. The list of topics covered is remarkably extensive; the exposition is always compact―and often quite elegant. ...” ((Journal of the American Statistical Association, September 2009, Vol. 104, No. 487)
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