The Team at Wilmott is very proud to present this compilation of Wilmott magazine articles and presentations from our second year. We have selected some of the very best in cutting-edge research, and the most illuminating of our regular columns. The technical papers include state-of-the-art pricing tools and models. Youll notice theres a bias towards volatility modelling in the book. Of course, its one of my favourite topics, but volatility is also the big unknown as far as pricing and hedging is concerned. We present research in this area from some of the best newcomers in this field. Youll see ideas that make a mockery of received wisdom, ideas that are truly paradigm shattering - for we arent content with a mere shift. We know youll enjoy it! The Best of Wilmott will return again next year...