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Rating: 
Summary: A good book with yet misleading intro
Review: I have to agree with one of the earlier reviewers who rates the book only 3-star. As a reader from engineering background who is determined to grasp the gist of stochastic calculus, I found at the beginning this book hard to carry on. It is only after taking on some readings about theoretical probability and measure theory that I find this book enjoyable. Thus, the statement of 'only a basic knowledge of calculus and probability is required' in the preface is misleading. One has to realize what is considered 'basic knowledge' for mathematicians may not be basic for engineerings, and vice versa.But, this is indeed an excellent book on the subject without burdening the readers with every rigorous proofs. I would have rated it 5-star if not for the misleading statement. As long as one has a basic knowledge in real analysis, indeed very basic, one will find this book highly enjoyable.
Rating: 
Summary: One of the best concise and readable books on the subject
Review: I've seen lot's of other books, (Karatzas, Protter, etc.) but none of them were so well and concisely written. I do recommend this book to anybody who wants to get a quick but still pretty thorough intro to the matter, without spending too much time on the proofs.
Rating:
Summary: A good book with yet misleading intro
Review: Readers will find that they need advanced calculus to get anything out of this book. Despite what the author states about the book being easy for a beginning derivatives math student to follow, I think you'll find that the level of math needed to keep up with the reading is fairly high level. This is why I gave the book only 2 stars.
Rating:
Summary: Excellent introduction to stochastic processes
Review: This is a very nice book. Looking forward to the 2nd edition with more material particularly on interest rate models.
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