The endorsement printed on the back cover was not the full original text of the endorsement; the original endorsement was longer and would not have fit on the back cover.
The full original text:
As a quantitative finance practitioner-turned-academic, I read Dr. Henrard's Interest Rate Modelling in the Multi-curve Framework with great interest and excitement. Seven years after the onset of the infamous financial crisis that started in 2007, credible reference textbooks refurbishing our approach to interest rate modelling remain sparse, leading to a dichotomous gap between the interest rate models taught in a university and the interest rate models applied in practice. In the academic world, all too often the teaching of important concepts about time value of money, discounting and forwarding becomes commingled under the single-curve framework. Students consequently lose context, and graduate with only a loose understanding of the key concepts, without grasping the essence and salient points of interest rate models. On the other hand, from a practitioner's perspective, while numerous leading investment banks have since rolled out a multi-curve interest rate pricing architecture, a good rigorous reference textbook laying out the theoretical foundation and filling in the necessary mathematics with germane rigour is still lacking.
This book provides all the vital missing links for academic and practitioners alike, effectively bridging the gap between theory and practice. Unlike many textbooks which only focus on theory, Dr. Henrard's book takes a unique bottom up approach, guiding the reader all the way from the formulation of fundamental mathematical framework to actual implementation in a production environment, delving along the way into advanced topics including collateralisation, multi-curve calibration, implication on portfolio management as well as exposition on a wealth of interest rate products. This book more than delivers what it promises as far as foundations, evolution and implementation go. Dr. Henrard's elucidating and engaging writing style makes this highly informative book a pleasure to read. On top of that, this a book that also furnishes you with intuition, perspectives and a solid understanding of what forward rates and discount factors really mean. There's little doubt that this will be the de facto textbook on interest rate modelling for many years to come.
Prof. Chyng Wen Tee
Assistant Professor of Quantitative Finance, Singapore Management University