Many people have contributed to this text. First, I wish to personally thank Stephen Smith, Brandywine Global Investment Management, and the Smith Center for the Study of Capitalism and Society for their backing and support. I also thank my colleagues and students at Xavier University for their many years of support and encouragement. My appreciation is extended to the editors and staff at John Wiley & Sons, Inc., particularly Bill Falloon, executive editor; Jeremy Chia, project editor; Sharmila Srinivasan, production editor; and Cheryl Ferguson, copy editor. My appreciation is also extended to Stephen Isaacs, Bloomberg Press, for his support, help, and encouragement on this project.

I also wish to thank my children and their spouses, Wendi, Jamey, Matt, Shayna, and Scott, and my grandchildren, Bryce, Kendall, Malin, Kylee, and Ryan, and Mary Frances Johnson and Marlyn Erhart for their support, encouragement, and understanding. I also would like to recognize the pioneers in the academic study of derivatives: Fischer Black, Myron Scholes, Robert Merton, Stephen Ross, Mark Rubinstein, and others cited in the pages that follow. Without their contributions, this text could not have been written. Finally, I extend my gratitude to the many people who make up the soul of the Bloomberg system—analysts, programmers, systems experts, reps, and journalists. It is truly a remarkable system.

I encourage you to send your comments and suggestions to me: [email protected].