Bonds Books - Page 2

The Treasury Bond Basis (Mcgraw-Hill Library of Investment and Finance)

Galen Burghardt, Terry Belton

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Customer Reviews:
Total reviews: 8 Average rating: 5.0 of 5

THE textbook for basis trading 5 out of 5 stars.
6 of 9 people found this review helpful.

This is simply the only truly readable and authoritative book on its subject. Terry Belton is acknowledged as being the foremost authority on futures research, and this book bears it out. If you're thinking about basis trading, or work in the derivatives market, this book is well worth a look.

(I should also mention that Terry is my boss..doesn't stop it being a good book, though. Hope I get that raise!)

Top class reference 5 out of 5 stars.
5 of 5 people found this review helpful.

I've been working in Futures & Options research for 3 years now, and this has proven to be the best refernce guide available. Terrence elucidates the concepts and mechanisms underlying the treasury bond basis with eloquence and intellect. His other work, Eurodollar Futures and Options, is also a great reference for the shorter end of the curve.

Editorial Review:

Now in its third edition, The Treasury Bond Basis is the mandatory reference text for Treasury bond and note futures trading rooms around the world. This updated edition reflects the numerous market changes, chief among them the Chicago Board of Trade’s decision to switch from an 8 percent to a 6 percent conversion factor. Revisions include greater detail on hedging and trading, updated explanations of options valuation and short delivery options, and discussion of global bonds futures trading and applications.

The Bond Bible

Marilyn Cohen

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Customer Reviews:
Total reviews: 17 Average rating: 4.5 of 5

Editorial Review:

A symbol of security, bonds have long had a place in any well-rounded portfolio. As millions of baby boomers shift their focus from the lure of capital appreciation to the necessity of capital preservation, bonds are moving from a supporting role into the spotlight. Many individual investors, however, know precious little about them. Marilyn Cohen, one of the nation's best known columnists and commentators on the bond market, demystifies bond investing and offers a shopper's guide to finding great bond buys and a master blueprint for building a winning personal bond portfolio. Packed with facts, real-world examples, and savvy advice, The Bond Bible covers: -- The right bonds-to-stocks ratio for a sound portfolio -- How to turn a bond investment from a safety net into a money-maker -- How to identify a genuine bond bargain -- How to determine which "store" gives the best value for different kinds of bonds -- The pitfalls of the bond market and how to avoid them -- The lowdown on bonds and taxes -- How to know when to sell a bond and for the best price -- The scoop on the latest trends, including on-line bond investing

Bond Markets, Analysis and Strategies (6th Edition)

Frank J Fabozzi

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Customer Reviews:
Total reviews: 8 Average rating: 4.0 of 5

Excellent introduction to Bond Markets - VERY well written 5 out of 5 stars.
13 of 14 people found this review helpful.

If you think of this as an introductory book to the world of Bonds rather than a field manual for professionals you will find this to be a wonderful book. I find it to be engagingly written (yes, engaging!) with well-chosen examples. It is very nice to be able to read a book about Bonds and find it stimulating. It would have been easy to write a book that could act as a sleep-aid. Instead, this book provides learning objectives for each chapter and the prose is so inviting that I felt the book to be a page-turner.

The math used is not complicated and is chosen to help understanding rather than demonstrate the sophisticated math used in the actual world of bond trading. If you want that kind of material this isn't the book for you.

I don't know if there is a solutions manual available, but I couldn't find it. If there isn't, there should be. I have never had a college course that used the problems in the book for actual coursework and yet, no matter how simple the problems seem, it is nice for the student to be able to confirm that he or she has indeed found the right answer.

There are also many helpful footnotes that point to materials for further and deeper reading on the subjects introduced in this fine book.

Editorial Review:

Target Market: Fixed Income Securities Courses or Bond Markets Courses

 

Fabozzi's, Bond Markets, prepares students to analyze the the bond market and use the tools for managing bond portfolios.

 

Many texts on the market are far too theoretical, Fabozzi is quite the opposite.  This text covers Bonds, analytical techniques for valuing bonds and quantifying their exposure to changes in interest rates, and portfolio strategies for achieving a client’s objectives.

Salomon Smith Barney Guide to Mortgage-Backed and Asset-Backed Securities

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Customer Reviews:
Total reviews: 8 Average rating: 4.5 of 5

Hayre is lucid and informative! The Best Prepayment book 5 out of 5 stars.
11 of 14 people found this review helpful.

As other reviewers have mentioned this is a must for anyone involved with MBS ABS markets. Outstanding discussions on prepayment. Very detailed analysis of MBS ABS structures and related processes. A must for all people working with MBS.
Some modeling is hidden and not well explained...

Editorial Review:

Mortgage-backed and asset-backed securities are fixed-income securities, like bonds, which derive their return from an underlying mortgage or basket of mortgages, or an asset or basket of assets. This market has increased from about $100 billion in 1980 to over $2.5 trillion today. Filling the void for a new book on fixed-income, Salomon Smith Barney Guide to Mortgage-Backed and Asset-Backed Securities provides a coherent and comprehensive approach to the subject. Featuring material used by the company, this book is an ideal training tool and resource for investment professionals, institutional investors, pension fund investors, and hedge-fund investors.
Lakhbir Hayre (New York, NY) is a mortgage officer at Salomon Smith Barney, and their leading expert on mortgage-backed and asset-backed securities. He is a Certified Financial Analyst and a Doctor of Philosophy.

High Yield Bonds: Market Structure, Valuation, and Portfolio Strategies

Theodore Barnhill, Mark Shenkman, William Maxwell

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Customer Reviews:
Total reviews: 4 Average rating: 4.0 of 5

Editorial Review:

HIGH-YIELD BONDS provides state-of-the-art research, strategies, and toolsÑalongside the expert analysis of respected authorities including Edward Altman of New York UniversityÕs Salomon Center, Lea Carty of MoodyÕs Investor Service, Sam DeRosa-Farag of Donaldson, Lufkin & Jenrette, Martin Fridson of Merrill Lynch & Company, Stuart Gilson of Harvard University, Robert Kricheff of CS First Boston, and Frank Reilly of the University of Notre DameÑto help you truly understand todayÕs high-yield market. For added value and ease of reference, this high-level one-volume encyclopedia is divided into seven sections detailing virtually every aspect of high-yield bond investment. They include: Market structureÑThe role of investment banks in security innovation and market development, evolution of analytical methodologies, and recent leveraged loan market developments; Security risk analysisÑHistorical bond default rates, real interest rate and default rate relationships, and new simulation methodologies for modeling credit quality; Security valuationÑImpact of seniority and security on bond pricing and return, important trading factors, and a Monte Carlo simulation methodology for valuing bonds and options in the context of correlated interest rate and credit risk; Market valuation modelsÑEconometric studies which detail the importance of monetary influences, risk-free interest rates, default rates, mutual fund flows, and seasonal fluctuations; Portfolio managementÑHistorical perspective and comparison to alternative investments, analysis of indices available to investors, and specific portfolio selection and risk management strategies of professional fund managers; Distressed security investingÑHistorical risk and return information, plus an academic overview of the market and decision criteria for uncovering and investing in securities with higher-than-average risk-adjusted returns; Corporate finance considerationsÑEmerging firmsÕ strategic choice between external debt and equity financing, as well as the choice of issuing public versus private (Rule-144a) securities. HIGH-YIELD BONDS provides extensive coverage of bond valuation and the construction and management of high-yield portfolios. Advanced Monte Carlo simulation models for the valuation of bonds and options on bonds as well as risk assessments on portfolios of bonds under conditions of correlated interest rate and credit risk are demonstrated. In todayÕs explosive environment of multiple new issues and high risk versus return relationships, it is paramount that you get advice from analysts and experts who have been influential in shaping and defining the market. HIGH-YIELD BONDS will provide you with a valuable reference to this fascinating and constantly changing class of securities, helping you assemble a stable, diversified portfolio of fixed income investments that provides the greatest returns and the lowest risks.

All About Bonds and Bond Mutual Funds: The Easy Way to Get Started

Esme Faerber

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Editorial Review:

Everything an individual investor needs to know about bonds.

. .

The average income investor doesn't want or need to get bogged down in technical discussions of interest rates and time. So All About Bonds and Bond Mutual Funds gives them what they wantAndshy;Andshy;a simple yet comprehensive treatment of bonds and bond funds. Along with updated bond information, this revised edition also includes new material on:

. .

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• Bond mutual funds .
• Tax-free municipal bonds .
• International bonds and bond funds .

All About Bonds, Bond Mutual Funds, and Bond ETFs, 3rd Edition

Esme Faerber

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Editorial Review:

Access the unprecedented potential of bond investing! . .

Bonds have come a long way in recent years. No longer just a relatively safe and secure investment, bonds now offer the potential for capital appreciation in addition to interest income. All About Bonds, Bond Mutual Funds, and Bond ETFs is the key to understanding both traditional and new types of bond investments.

. .

This detailed but accessible introduction covers everything from basic bond characteristics to fixed-income investment techniques. You'll gain a thorough education on such topics as yield, liquidity, duration, convexity, valuation, and emerging markets and find the answers to many questions a bond investor will ask, such as:

. .
• What percentage of my portfolio should be dedicated to bonds?.
• What are the newest products and where do I find them? .
• What are the risks involved with investing in bonds, bond mutual funds and bond ETFs?.
• How can I use the Internet to my advantage?

. .

Whether you're involved in the bond market already or about to enter it, All About Bonds, Bond Mutual Funds, and Bond ETFs will guide you though the process of choosing the best bonds for your needs, evaluating their performance, and managing a bond portfolio.

.

Inside the Yield Book: The Classic That Created the Science of Bond Analysis, New Edition

Sidney Homer, Martin L. Leibowitz

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Customer Reviews:
Total reviews: 3 Average rating: 3.0 of 5

Insightful! 4 out of 5 stars.
13 of 13 people found this review helpful.

Sidney Homer and Martin L. Leibowitz, the authors of this slim volume, accomplish a tough feat. They utter a piece of rudimentary financial advice in one sentence and then launch into mind-bending explanations of the calculus that makes the rudiments true. Maybe that's why their 1972 classic has been in print for three decades. This updated version of the classic includes new forewords and some material that was cut from the original. Unless you're an experienced bond trader or a finance whiz, this primer isn't exactly easy reading. The authors waste little time on hand-holding. Still, it remains a complete look at its topic after all these years. We suggest this book to investors and traders who need a crash course - or a refresher course - in bond analysis.

Editorial Review:

First published in 1972, "Inside the Yield Book underwent more than twenty-five printings and remains a standard among bond market professionals. Used copies sell for more than $100 online. This new edition brings the still-relevant classic back into print with a new introduction by coauthor Martin L. Leibowitz, now chief investment officer at TIAA-CREF, and a new foreword by Henry Kaufman, former vice chairman of Salomon Brothers and one of the financial community's most-successful and most-respected figures. "Inside the Yield Book takes the bond investor behind the scenes and reveals in nontechnical terms the precise nature of bond yields and the ways in which they're often misunderstood and misused. It corrects many misconceptions about bond prices and yields as calculated in the standard Yield Book, and it provides a set of tools to aid in bond investment strategy that have made it the standard reference on bond math within the field of fixed income.

The Bond King: Investment Secrets from PIMCO's Bill Gross

Timothy Middleton

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Customer Reviews:
Total reviews: 7 Average rating: 3.5 of 5

Editorial Review:

Praise For Investment Secrets From PIMCO's Bill Gross

"No investor is held in higher regard by his peers than Bill Gross. His understanding of the markets and his insights on how to profit from them are unparalleled. Now, Tim Middleton takes you into Gross's world for an insider's view on how the world of finance really works. If this book were a bond, it would be AAA rated with a double-digit yield."
-DON PHILLIPS, Managing Director, Morningstar, Inc.

"The secret to investment success is discipline. In bonds, nobody has displayed better discipline than Bill Gross. And nobody has done a better job of explaining Gross's methods, and instructing private investors how they can exploit his approach, than Tim Middleton."
-JON MARKMAN, Columnist, CNBC on MSN Money

"Warren Buffett, John Neff, Bill Miller, Peter Lynch-the stock market has always had dominant personalities whose long-term success becomes legend. In the bond market, that dominant personality is Gross."
-FORTUNE

"Bill Gross is the Emeril Lagasse of bond managers."
-FORBES

"If you want to get a stock mutual fund manager steamed, ask why his fund can't beat bond guru Bill Gross."
-USA TODAY

The New Masters of Capital: American Bond Rating Agencies and the Politics of Creditworthiness (Cornell Studies in Political Economy)

Timothy J. Sinclair

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Total reviews: 2 Average rating: 4.0 of 5

Editorial Review:

In The New Masters of Capital, Timothy J. Sinclair examines a key aspect of the global economy--the rating agencies. In the global economy, trust is formalized in the daily operations of such firms as Moody's and Standard & Poor's, which continuously monitor the financial health of bond-issuers ranging from private corporations to local and national governments. Their judgments affect unimaginably large sums, approximately $30 trillion in outstanding debt issues, according to a recent Moody's estimate. The difference between an AA and a BB rating may cost millions of dollars in interest payments or determine if a corporation or government can even issue bonds

Without bond rating agencies, there would be no standard means to compare risks in the global economy, and international investment would be problematic. Most observers assume that the agencies are neutral and scientific, and that they interpret their role in narrowly economic terms. But these agencies, by their nature, wield extraordinary power and exert massive influence over public policy. Sinclair offers a highly accessible account of these institutions, their origins, and the rating processes they use to judge creditworthiness. Illustrated with a wide range of cases, this book offers a fresh assessment of the role of an often-overlooked institution in the dynamics of modern global capitalism.