Book Description
The definitive MBS guide, with fully updated material on the latest mortgage-backed products, methods, models, and portfolio strategies
By providing hands-on information vital to market participants, previous editions of The Handbook of Mortgage-Backed Securities were instrumental in fueling the growth of the mortgage-backed securities market. The sixth edition contains all the elements that made previous editions so successful and influential, and provides you with more than 25 new chapters on topics including collateralized mortgage obligations, prepayment derivatives, loan level determinants of repayments, new approaches to MBS valuation, and a survey of non-U.S. mortgage rates.
Customer Reviews:
Definitely lacking, but OK for traditional mortgage products.......2007-03-27
I have to say that Fabozzi has the formula down pat--he gets "guest writers" to contribute various chapters to this book and does very little writing himself. The result is a disjointed, sometimes repetitious, other times incomplete volume. This book focuses extensively on agency mortgages--Ginnies, Fannies, Freddies--and speaks only a bit to the Alt-A, subprime and more exotic privately-originated mortgage markets. To call this book comprehensive would be a lie. Although this book was highly recommended to me by a PM at a traditional long-only manager, I can only guess that previous versions were better, because this one was certainly a high-priced primer that still left many areas of the market uncovered. Areas that are glaringly missing (beyond non-agency topics) include the role of hedge funds, loss mitigation/foreclosure processes, more info on EPDs, and the erosion of lending standards/rise of the subprime market. I think that a chapter on common mortgage origination fraud issues is also merited.
This book is good for the basics, on agencies. Beyond that, it may leave you scratching your head and wondering, "And...." because there is a palpable sense of incompletion. Borrow this book from someone else that already has it--don't buy it!
Good book.......2007-01-26
If youre in the MBS business, you gotta have this as a reference book if nothing else. Its the industry standard. Item showed up brand new and good delivery.
Excellent but Compiled Work.......2003-02-15
I have seven years of experience selling these products, and I use Fabozzi's book often. This is a good reference, and a good treatment of mortgage and asset backed securities. I only gave it four stars because the fact that this is a compiled work of research material interrupts the flow of ideas. On the other hand, there is some merit to getting different angles on the subject from different viewpoints.
One caveat. Mortgage derivatives used to mean calls and puts on mortgage backed securities. Today, however, entire portfolios of mortgage risk are laid off in the form of credit derivatives.
Tavakoli has the best treatment of that topic in the book: "Credit Derivatives".
A major reference.......2000-08-02
A vast collection of articles by practitioners on Wall Street, this book covers a broad number of topics on Mortgage Backed Securities. While not a scholarly approach, 'street research' typically aims to educate the fixed income portfolio manager.
Fabozzi handbooks are overrated.......2000-06-28
It's the industry standard. Everyone has one. It stands alone in its field. And if you're reading this you're probably going to buy regardless of what is written here.
But I've found this book (along with some of the other Fabozzi 'Handbooks') to be overrated. Basically, the format of 30 or so different authors each writing a chapter in the form of an article diminishes the usefulness of the book. There is no narrative, pedagogical or otherwise. The format leads to significant gaps in coverage. The quality of the chapters is uneven, as is the level of detail covered.
Don't misunderstand me -- the Handbook isn't bad, by any strecth of the imagination. It's just not as good as it could be. It has almost no fluff, and all the information in it is good. And the competition is a very slim field. For many things Fabozzi is not only your best choice, it's your only one.
Book Description
A new paradigm in facility management
A unique, just-in-time resource from profession leader Eric Teicholz, Facility Design and Management Handbook empowers you to make your facility state of the art. Packed with tips from U.S. and international case studies from government, health care, retail, finance, manufacturing, and academia, this guide gives you access to the productivity tools, technologies, and stratagems that have revolutionized the field in the last five years, helping you to:
Find the best, most cost-effective solutions for issues from “greenness” and sustainability to disaster recovery and technology integration
Use new tools for space and asset allocation, project management, process coordination, and systems integration
Improve accuracy in financial forecasting, budgeting, architectural and interior design planning, and market research
Create cost-effective “smart” buildings with state-of-the art security, energy management, lighting strategies, and maintenance efficiency
Discover innovative solutions for human resources needs
Integrate the Internet into your management program
Automate nearly all your tasks for major productivity gains
Apply benchmarking standards and other measurements that demonstrate and assure facility management productivity
Accompanying time-saving, efficiency-boosting CD-ROM is loaded with sample documents—from budgets, schedules, plans to cost-benefit analyses, checklists, forms and audits; standards for communications and database, integration, building and construction, CAD conventions; Web links and other resources.
Customer Reviews:
Excellent FM handbook for 2001 and beyond.......2001-05-07
A very comprehensive manual (31 chapters, over 500 pages) for any level of facilty management professional. Each chapter is written by practicing professionals and "expert" consultants. Given that the field of FM covers so many areas, it is useful to have many different perspectives from professionals in the field formed into one big book. Chapters are grouped into phases of FM disciplines, i.e, planning, design, management, technology. There are high level topics such as Strategic Facility Planning, Sustainable Design, Portfolio Management and Business Transformation. Also very detailed, nuts & bolts for topics such as Financial Management for FM's, Energy Management, System Implementation for CMMS (Maintenance systems, Benchmarking, Condition Assessment, and case studies for CAFM technology. Brief chapter summaries are provided to assist reader with content coverage. There are lots of graphics/figures which help readability of this thick book, as well as a CD with websites and templates for RFP's, standards and process related functions.
Book Description
The Handbook of Real Estate Portfolio Management provides a comprehensive perspective of these changes. Inside, more than fifty of the world's finance experts detail leading practices, techniques, and strategies, including how to: apply modern portfolio theory (MPT) concepts to real estate investment; develop and implement a real estate strategy; understand investor psychology/biases in the real estate investment setting.
Customer Reviews:
an overall great reference book.......2000-02-04
As a real estate student I found this book to be a great a reference for me. It is great for a beginner or an expert. If you are at all interested in real estate then I definately recommend this book.
Book Description
``Harold's diligent and scholarly approach to investing theory makes Wealth Management a thoughtful book that should be on every advisor's reading list.''--Charles R. Schwab, Chairman & CEO, The Charles Schwab Corporation. Wealth Management outlines the current state-of-the-art in financial planning, and describes respected financial planning speaker and author Harold Evensky's effective, optimal asset allocation policy that is designed to account for each client's unique goals and constraints. It provides you with concise yet thorough information on current investment theories, along with detailed reference for further study.
Customer Reviews:
A Great Treatise on Wealth Management.......2001-07-20
Mr. Evensky's book has had a profound impact on my wealth management philosophy. He is very effective in blending the broad scope of investment management theory with "real world", practical application. I found it particularly useful because it is not a book written by an academic who has never sat across the table from a client and held their hand through the good times and the tough. This is a must read for any serious manager of wealth.
A. Todd Black, CFP
Excellent mixture of practical advice and theory.......1999-02-27
I had expected a typical fluff, despite Evensky's fine reputation. I has very surprised at this mixture of practical advice and theory. Pointers are given to other sources for those more theoretically inclined. Some of the practical advice (software recommendations and such) won't age as gracefully as the text itself, these packages will become obsolete before the book. Nevertheless, I'd highly recommend it for anyone who is looking to understand the basics of risk/reward, the importance of asset allocation, and the theoretical material that led to these ideas.
A must read for all investment advisors!.......1997-03-16
Harold generously shares his knowledge, not only in solid investment thought, but in practical application. If you've ever wanted to know how to practically apply investment research to your own portfolios, this is the book that will do it
Book Description
Effective management of taxable accounts and portfolios rarely gets the attention it deserves from investment managers and advisers, often leaving investors with a larger-than-necessary tax bite. Tax-Aware Investment Management details new research, new analytic tools, and new thinking that can change that. This book punctures received wisdom and dispels misconceptions about how to account for tax effects; how to allocate assets; how and when to buy, sell, and rebalance; and how to communicate with clients and with other professionals involved in managing their assets. Douglas Rogers, widely considered the authority in this growing field, details the trading strategies and fund evaluation criteria essential to the task and presents critical considerations for investment managers. He also covers the expanding area of separate accounts.
Customer Reviews:
Tax Aware Investing doesn't need to be an oxymoron.......2007-07-10
I have yet to meet a prudent investor that thinks the government would do a better job of spending the money that the investor has accumulated, than they would do spending it themselves.
Doug Rogers' Tax-Aware Investment Management guide is timely. Doug gives you questions to ask your advisor. He provides a historical prospective while injecting humor. Doug even synthesizes the implications of taxation on investment results in a readable fashion.
Wall Street serves institutions (they live in world of relative "better than the benchmark or at least awfully darn close to it so they can keep their job" performance evaluation.
Private clients are often sold what institutions bought 5 or 10 years ago. The individual investor's best interests would be better served by thinking about this topic before, during and after they invest. You can only spend what you have after tax, after fee. I suggest you invest some time in thinking about the wisdom that Doug shares.
Importance of Tax Aware Investing Brought to the Forefront.......2006-03-08
This book could/should be used as a handbook for investment professionals considering tax aware investing. Doug has compiled years of research, insight and practice into a concise "manual" to shed some light on this complicated,and ever-changing aspect of investment management. Billions of dollars are needlessly lost each year from investors' portfolios because investment professionals fail to consider the impact of taxes when constructing and managing investment portfolios.
The book is very well written and organized. Hopefully, more people will realize the importance of taxes on portfolio performance and be drawn to firm's who can add value by having the knowledge and the ability to "play the game". This is especially true in a low return environment where the tax burden can have a meaningful impact in overall returns.
Book Description
The Investor's Guide to Active Asset Allocation offers you the background and analytical tools required to take full advantage of the opportunities found in asset allocation, sector rotation, ETFs, and the business cycle.
Written by renowned technical analyst and best-selling author Martin Pring, the book presents Mr. Pring's unique Six Business Cycle Stages, explaining why certain asset categories perform better or worse during different phases of the business cycle, and demonstrating how to use intermarket tools and technical analysis to recognize what business cycle stage the market is in.
Pring shows you how to apply active asset allocation, rotating among sectors and major markets (stocks, bonds, and futures) as the business cycle stage changes, to develop optimum allocation strategies. He focuses on exchange traded funds (ETFs) as the best vehicle for asset allocation rotation, since they are easily traded and have much more flexibility than mutual funds. He also offers specific guidelines for what sectors to be in, depending on the business cycle stage.
The Investor's Guide to Active Asset Allocation provides you with proven investing expertise on:
Basic Principles of Money Management
How the Business Cycle Drives the Prices of Bonds, Stocks, and Commodities
The Pring Six Business Cycle Stages
Technical Tools that Help to Identify Trend Reversals
Putting Things into a Long-Term Perspective
Recognizing Stages Using Easy-to-Follow Indicators as well as Models
How the Ten Market Sectors Fit into the Rotation Process
How Individual Sectors and Groups Performed in Each of the Six Stages
Asset Allocation for Specific Stages
This dynamic investing resource features a CD-ROM, which contains supplementary information that will help you execute the strategies described in the book. You'll find live links to useful web sites that contain a wide-ranging library of ETFs, database sources, historical data files in Excel format, and a collection of historical multi-colored PowerPoint charts.
An essential tool for improving your analytical skills, The Investor's Guide to Active Asset Allocation shows you how to move from a passive to an active allocation model and explains the link between business cycle and stock market cycle for more effective - and profitable - trading and investing.
Customer Reviews:
An interesting Subject.......2007-04-07
This book covers the subject of how to invest regarding business cycles. This is an interesting subject and this is a well organized book, yet not well written/composed, that is, it is hard to comprehend the matter because of the way it is written with too many unnecessary details. There is another book of this kind, John Murphy's "Intermarket Analysis". But this time, although the Murphy's book is well written/composed, it is not well organized that much of the Pring's book. In fact, Pring's book is a derivation from his book "Technical Analysis Explained". Perhaps reading Pring's book on technical analysis together with Murphy's book could be better to comprehend the subject.
Business Cycle Approach to ETF Asset Allocation.......2006-08-30
Asset allocation is one of the most critical aspects of investing. Unfortunately, too many investors do not pay as much attention to asset allocation as they should, typically resulting in inferior investment performance. After reading Pring's book, investors will have a clear-cut methodology on which factors are important to a well-adjusted portfolio, as well as how to use ETFs to build the portfolio.
Based upon the author's extensive knowledge of technical analysis, his numerous educational seminars, his newsletter, and previous books, Pring provides investors with a detailed step-by-step guide to asset allocation. In addition, the book comes with a very useful CD-ROM and workbook reference to provide additional insights and further clarification of his key points.
After reviewing the basics of diversification and wonders of compounding, Pring focuses on the typical business cycle covering the rate of change, chronological sequence of events, and using indicators to determine the sequence. In a later chapter he depicts the six business cycle stages and how to recognize each one using specific indicators. He also covers trend lines, moving averages, overbought/oversold, relative strength (not RSI), divergences, and his unique KST indicators.
Pring explains long-term cycles and ways to determine the direction of the secular trend, and then how the business cycle drives prices of stocks, bonds and commodities. He illustrates how the ten market sectors move in a rotational process through the six stages.
Pring believes that ETFs are a good way to diversify a portfolio and provides and introductory chapter on ETF families and their make-up. He shows how to use ETFs in a sector rotation approach.
In summary, Pring provides investors and traders with a well thought out methodology combining the business cycle changes, sector rotation, and ETF portfolio. This 370-page book and accompanying CD-ROM require many hours of study to get the most from it, but the impact on an investor's portfolio performance can be substantial.
Book Description
A fully updated guide to equity style management
Pioneered by Nobel laureate William Sharpe, equity style management is derived from a correlation analysis of various equity style categories, such as value, growth, small cap, large cap and foreign stocks. In the Third Edition of The Handbook of Equity Style Management, twenty contributors from industry and academia help readers understand various equity style management issues, including equity style indices, different approaches to equity style measurement, foreign stock investing, tactical style management, behavioral aspects of equity style, and equity style benchmarks for manager selection and performance attribution. This updated edition gives readers the rationale behind equity style management, and shows how new strategies can be used to manage risk and improve returns.
T. Daniel Coggin, PhD (Charlotte, NC), is an investment management consultant who has coauthored three books and numerous articles on investment management. Frank J. Fabozzi, PhD, CFA (New Hope, PA), is Editor of The Journal of Portfolio Management and author or editor of over 100 books on finance and investing.
Customer Reviews:
Expected more practical stuff from it.......2004-10-25
I bought this book in hope to learn about the practical side of style management - how to calculate information coefficients and how to explain them, how to do single and multivariate regressions on the portfolio, etc. If that is what you want, get another book. Once you read it, come back and read this book, and it will give you a deeper understanding of the usage, history, theory behind it.
Book Description
The Handbook of Portfolio Mathematics
"For the serious investor, trader, or money manager, this book takes a rewarding look into modern portfolio theory. Vince introduces a leverage-space portfolio model, tweaks it for the drawdown probability, and delivers a superior model. He even provides equations to maximize returns for a chosen level of risk. So if you're serious about making money in today's markets, buy this book. Read it. Profit from it."
—Thomas N. Bulkowski, author, Encyclopedia of Chart Patterns
"This is an important book. Though traders routinely speak of their 'edge' in the marketplace and ways of handling 'risk,' few can define and measure these accurately. In this book, Ralph Vince takes readers step by step through an understanding of the mathematical foundations of trading, significantly extending his earlier work and breaking important new ground. His lucid writing style and liberal use of practical examples make this book must reading."
—Brett N. Steenbarger, PhD, author, The Psychology of Trading and Enhancing Trader Performance
"Ralph Vince is one of the world's foremost authorities on quantitative portfolio analysis. In this masterly contribution, Ralph builds on his early pioneering findings to address the real-world concerns of money managers in the trenches-how to systematically maximize gains in relation to risk."
—Nelson Freeburg, Editor, Formula Research
"Gambling and investing may make strange bedfellows in the eyes of many, but not Ralph Vince, who once again demonstrates that an open mind is the investor's most valuable asset. What does bet sizing have to do with investing? The answer to that question and many more lie inside this iconoclastic work. Want to make the most of your investing skills Open this book."
—John Bollinger, CFA, CMT, www.BollingerBands.com
Customer Reviews:
High level Mathematics but not useful for real life applications........2007-09-11
Ok. To begin with I am giving only 2 stars for this book , and the reason for this high rating is some good mathematics it covers.
Part 1 of the book covers statistics, normal distribution, binomial distribution and all other concepts applied to trading systems. However this has been covered inadequately. Author should have either presumed that people reading this book are already aware of this and avodied it altogether or he should have covered it in enough details. Some 150 pages are lost on this but again 150 pages are not enough for covering all this material. The examples given are kind of weird, one page author speaks of coin toss examples and immediately after that he goes to example of horse racing and its probabilities. Instead it would have been great had he taken single example of a trading system and evolved his work around it.
Part 2 of the book comes back to Vince favourite concept of optimal F. Another 100 pages are spent on this. The problem is nobody in real life is going to trade optimal F as it is too risky to trade in real life. The whole discussion rounds on optimal f, its characteristics etc.
These two sections (part 1 & 2 ) are straight from Ralph Vince previous books. So in case you have read those books then there is nothing new here.
Part 3 is where it becomes slightly interesting. Author speaks about portfolio management, space leveraged model, and gives overview of what professionals have done. But all the computations on this are presuming that you are trading optimal F. In case you have already decided not to trade optimal f as it is too risky, then there is not much advise here for you on how to adjust your portfolio. The section on "What professionals have done" is slightly interesting though.
The whole book is full of complex mathematics (You must have done majors in mathematics at graduation level in your college), and author presumes that you know most of that mathematics so there is little explaination for those notations.
The book may be interesting for a large futures fund who can afford to employ an army of mathematicians and programmers to try all those concepts. However if you trade for yourself, or have a small fund then you are not likely to gain much from the book. If you have read any of Ralph Vince previous books then I will suggest not to go for this one.
I will rate Ryan Jones "The number Game" much higher on subject of money management for its ease of application in real life.
The greatest book in the history of trading!.......2006-01-19
The greatest book in the history of trading!
Book Description
The Handbook of Exotic Options is the first book to explain the theoretical foundations, structures, and applications of these exciting new instruments. Edited by Israel Nelken, one of the foremost experts in the field, this handbook provides an in-depth explanation of the latest uses of exotic options by institutional investors and corporate treasurers, as well as the latest thinking on advanced topics. Readers will find valuable discussions of: Options theory, volatility, and pricing; The Brownian Motion and the Black Scholes Model; Risk management applications of exotic options.
Customer Reviews:
Misleading title.......2001-11-25
Dr. Nelken has compiled a series of articles
by a variety of authors dealing with particularly
diverse aspects of exotic options.
Although some of the papers contain useful
information, the book does not deserve to
be called a "handbook": it is more like a
loose compilation, thus making it useless
as a reference.
I ordered the book in 1998 at my local
bookstore and felt cheated after the
first browsing. The extra star is there
to praise the occasional pearl of wisdom
you will encounter while reading through
all 15 chapters.
Finally, the cover advertises with
"valuable software included", referring
to a demo (!) of EXOTICOP (c). I strongly
disagree: the program is nothing more
than a black-scholes type exotics pricer
with a primitive interface, barely touching
the level of an undergraduate paper.
To add insult to injury, some of the
input parameters are frozen in the
demo version.
To put it in dealer's phraseology, this
book is a big yours.
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- Understanding Health Policy (Lange)
- Valuation: Measuring and Managing the Value of Companies, Fourth Edition
- Value-at-Risk: Theory and Practice
- West Federal Taxation 2007: Corporations, Partnerships, Estates, and Trusts (with RIA Checkpoint and Turbo Tax Business CD-ROM)
- Wiley CPA Examination Review Impact Audios, 2nd Edition Business Environment and Concepts Set (CPA Examination Review Impact Audios)
- Wiley GAAP 2007: Interpretation and Application of Generally Accepted Accounting Principles (Wiley Gaap)
- Wiley GAAP 2007: Interpretation and Application of Generally Accepted Accounting Principles (Wiley Gaap)
- Workflow Modeling: Tools for Process Improvement and Application Development
Books Index
Books Home
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- Giants in Their Tall Black Hats: Essays on the Iron Brigade
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- Cases in Financial Accounting: Computerized Practice Set
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General
| Popular Economics
| Business & Investing
| Subjects
| Books
Salomon Smith Barney Guide to Mortgage-Backed and Asset-Backed Securities
The Handbook of Fixed Income Securities
Collateralized Debt Obligations: Structures and Analysis, 2nd Edition (Wiley Finance)
Fixed Income Mathematics, 4E
The Securitization Markets Handbook: Structures and Dynamics of Mortgage- and Asset-Backed Securities
