Average customer rating:
- Very useful reference
- So far so good
- good overall reference
- the default reference
- nice overview of a wide range of topics
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The Handbook of Fixed Income Securities
Frank Fabozzi
Manufacturer: McGraw-Hill
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Binding: Hardcover
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Similar Items:
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Fixed Income Mathematics, 4E
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Fixed Income Securities: Tools for Today's Markets, Second Edition
-
The Handbook of Mortgage-Backed Securities
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Bond Markets, Analysis and Strategies (6th Edition)
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Options, Futures and Other Derivatives (6th Edition)
ASIN: 0071440992 |
Book Description
The world’s #1 fixed income book, now with 21 all-new chapters
The Handbook of Fixed Income Securities occupies the top spot as the most authoritative, widely read reference in the global fixed income marketplace. First published in 1983, this comprehensive survey of current knowledge features contributions from leading academics and practitioners and has carved out a niche that cannot and will not be equaled by any other single sourcebook.
Now, the thoroughly revised and updated seventh edition gives finance professionals the facts and formulas they need to compete in today’s transformed marketplace. It places increased emphasis on applications, electronic trading, and global portfolio management, and features new chapters on topics including:
- Eurobonds
- Emerging market debt
- Credit risk modeling
- Synthetics
- CDOs
- Transition management
- And many more
Customer Reviews:
Very useful reference.......2007-08-31
Good reference for bond math and a great thing to have on any debt capital markets desk.. I use it very frequently.. its a classic ..
So far so good.......2007-08-03
Great purchase. The authors do a superb job of describing topics in basic terms then escalate to the nitty gritty number crunching behind the concepts. I recommend for anyone needing a complete guide to FI securities.
good overall reference.......2007-04-19
very good as a reference and general overview; if you want more detail and in-depth analysis you should look for something else but there's lots of specific lieterature out there so this still makes a good starting point
the default reference.......2007-01-06
this is the de facto desk reference for fi securities. it is thorough and well presented. if you are working with fi, you probably have it, if not, you should. also highly recommend the fixed income mathematics text as well.
nice overview of a wide range of topics.......2006-04-16
i give 4.5 stars.
many reviewers comment that this book lacks depth, but hey, it just tries to give a general overview on a variety of fixed income securities, that's what it is, and this book does reasonably well on this purpose. it never means to contain everything on every fixed income securities.
the only thing i am concerned is that the page numbers listed on the index sometimes do not match.
Book Description
This comprehensive book on bonds takes a practical real-world approach to the subject, and includes a detailed discussion of each type of bond including a wide range of products. Specific chapter coverage discusses not only the instruments, but their investment characteristics, the state-of-the art technology for valuing them, and portfolio strategies for using them. For portfolio managers, fixed income trades, and salespeople.
Customer Reviews:
Don't be misled by the title........2007-03-19
I purchased this book with a lot of expectations. But this book contains neither analysis nor strategies. It only contains glossary of terms used in various Bond markets. Don't be fooled by the planted reviews :)
I reviewed this book for the publisher (prior edition).......2004-04-22
I was a major peer reviewer for the publisher of "Bond Markets, Analysis and Strategies," and have used it several times (perhaps as many as 10 semesters) for both undergrads and MBAs. I have no incentive to give this book any particular rating, but I HIGHLY RECOMMEND IT TO EITHER PRACTITIONERS AND ACADEMICS, AS IT IS AN EXCELLENT TEXT! There are very few weaknesses, and I disagree with most of those cited by the other reviewers listed here. It is clear, concise, loaded with examples, and beautifully written. It is also closely tied to real-world practice without sacrificing the mathematical modeling. Of course, it is no high-level bond pricing text, but it is not supposed to be--it is a broad introduction to bond markets. As such, it succeeds remarkably. In fact, I often refer to it to refresh my own understanding of the structure and pricing of these markets.
I highly endorse it, and will continue using it.
Lots of Jargon.......2002-11-06
I am a senior majoring in finance at the Curtis L. Carlson School of Management, at the University of Minnesota-Twin Cities. I just got done taking a bond course called: Financial Markets and Interest Rates. For the class we used this text book. Although it is a well-rounded book on bonds, it is very hard to understand if you do not have other examples describing what is going on. My professor who holds an MBA had alternative notes on Microsoft PowerPoint made for us to supplement the hard to understand text. The examples do not fully give a clear idea of what is happening, especially to the beginner learning bonds. I would rate this book 2/5 stars and would look elsewhere for an easier type of book, perhaps a tutorial. This book is used at high level universities including mine and Princeton University. Fabozzi is not fooling around when displaying info on bonds.
Excellent introduction to Bond Markets - VERY well written.......2002-06-15
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.
A lot of hand waving, but does help.......2002-04-04
A little too wordy, but as a management text, I guess its a prerequisite. It covers the gamut of fixed income securities, but only approaches the problems deterministically. The first thirteen chapters are "text" chapters, with the real math starting in chapter 14. However, the math used is elementary, and will not be of much help in the real world. For the fixed income math portion look into "Bond Pricing and Portfolio Analysis" by Olivier de La Grandville.
For a first course in bonds, and if the student has no prior background, this book will indeed be useful. But, for advanced students the book mentioned above should be more insightful.
Book Description
Praise for the Classic Guide to the Bond Market
"This is simply the most comprehensive, useful look-it-up book on municipal bonds I've ever read (said with all due respect to The ABC of Municipal Bonds my dad wrote in 1937 when I was nine). Read Fundamentals cover to cover. I'm keeping mine in my briefcase, under my arm, at my fingertips. No accountant, financial advisor, attorney, new bond salesman, reporter, regulator, test-writer, cautious, suspicious first-time investor in municipal bonds, or dinner guest is ever going to catch me again with a question about municipal bonds I can't answer."-Jim Lebenthal, Chairman, Lebenthal & Co.
"Judy Wesalo Temel gives us the Rosetta stone of the municipal bond market, the key to unraveling the many mysteries of `muni's.' Her book, a fresh take on the old standard Fundamentals of Municipal Bonds, updates chapter and verse on everything from investing to underwriting, from over-the-counter to over-the-Internet. The style is clean, crisp, and as simple as this complex subject can be. Are you a novice who wonders how to invest in bonds? She lays out the basics. Examples are easy to follow-even the mathematical ones that are critical to explaining how municipal bonds work. At the same time, there is plenty of meat for the pros. Whether you need to start from square one and learn all about municipal bonds and how they work, or need a ready reference for specific technical questions you run across as a market professional, this book is for you."-Kathleen Hays, Economics Editor, Credit Markets Reporter, and "Bond Belle" CNBC
"This is a must-read for every scholar, banker, and public official concerned with local government finance in the United States. Judy Wesalo Temel has done the impossible: she has clearly and insightfully explained how we finance the development of the nation's vital public infrastructure. This is an important book, one that will be required reading for professionals responsible for planning, designing, and evaluating publicly financed projects-the health care, transportation, and educational facilities that all citizens rely upon. The bond market is an essential element in the life of local and state government, and this book makes it understandable to all Americans."-Mitchell Moss, Henry Hart Rice Professor of Urban Planning and Director, Taub Urban Research Center, Robert F. Wagner Graduate School of Public Service, New York University
Customer Reviews:
A very well written book........2001-04-11
After a few years in waiting, I am glad to see that the Bond Market Association has released the 5th addition of The Fundamentals of Municiple Bonds. The author of this book did a great job capturing the signifigance of the municiple bond, and exaplining it clearly with graphs and charts. I highly recomend this book and give it a 5 star rating.
WOW!.......2001-03-02
This book was amazing. Not only was it a great read (I couldn't put it down) but I learned more about derivatives and muni bonds in this book than i could have in any classroom or read in any other book on bonds.
WOW!.......2001-03-02
This book was amazing. Not only was it a great read (I couldn't put it down) but it was also very informative. I learned more about derivatives in this book than I could have in any classroom or any other book on bonds.
Book Description
Trying to trade stock, bond, commodity and currency markets without intermarket awareness is like trying to drive a car without looking out the side and rear windows—very dangerous. In this guide to intermarket analysis, the author uses years of experience in technical analysis plus extensive charts to clearly demonstrate the interrelationshps that exist among the various market sectors and their importance. You'll learn how to use activity in surrounding markets in the same way that most people employ traditional technical indicators for directional clues. Shows the analyst how to focus outward, rather than inward, to provide a more rational understanding of technical forces at work in the marketplace.
Customer Reviews:
Must Read.......2006-04-13
This is a book that everyone should read. Even if you don't trade this is a great book about economics and will help anyone to understand what moves the markets and why. There are numerous charts in this book comparing different markets to each other in a plain easy to understand format. As a technical book goes this one is easy to comprehend will give the reader a much greater knowledge of the markets and the economy in general. As a trader myself this is one of the best books out on this subject I know of and one of the best books I have read on trading period. As an example a few years ago lots of economists were talking deflation. If you had of read this book you would have known that we were not heading into a period of deflation but inflation. What is presented in this book is not an exact science but will give the reader insight to what the future economic situation will be.
If you liked this book, you'll love his new book...........2004-01-09
Those who were reluctant to accept the benefits of intermarket analysis after reading Intermarket Technical Analysis (1991) will find making the paradigm shift much easier after reading his latest book published in February 2004 called Intermarket Analysis. Murphy has the benefit of some monumental market events in the last three decades to demonstrate his case and he uses them to great effect.
As John pointed out in an interview for Stocks & Commodities magazine I did with him in December 2003, it was his original goal to write the quintessential intermarket book but then found the topic so involved that each chapter could have become a book. There is just so much to discuss. Attempting to cover anything but a small snippet in a review is sheer folly. It is also impossible to do the book justice.
Markets have become so interdependent in the last decade, a correlation that continues to strengthen with time. If those who suffered financial ruin between 2000 and 2002 had read Intermarket Technical Analysis, how many of them could have avoided huge losses and even profited from what occurred? We will never know for sure but is it a risk they anyone can afford to take, especially when considering that the cost of avoidance (cost of the book) is less than $50? For those serious about making money in the market and keeping it, his new book, Intermarket Analysis is an absolute must!
Matt Blackman - Technical writer/review and regular contributor to Technical Analysis of Stocks & Commodities Mag, Traders Mag (Europe), Working Money, Traders.com Advantage, SFO Magazine
The textbook on market forecasting.......2003-11-05
You'll learn a lot from this book. Most investors sit obsessively focused on the market averages. They'll cut on their TV and see the ticker on CNBC be in the green and feel elated or else they'll see it red and get worried. Murphy's book will show you how a study of the bond, currency, and commodities markets along with an analysis of the stock market will help you see the big picture and get a better feel for where the economy and all of the markets are going. The past 3 years has proven to us that just because the stock market has a rally doesn't mean we are on the verge of a big economic boom or a new bull market.
Murphy demonstrates how each of these four sectors interact with one another and the business cycles and if you can grasp the lessons he teaches you then you'll have a clearer understanding of what drives the financial markets. Once you understand these cycles you will be able to forecast the intermediate term trend of the markets. It really isn't that complicated.
The only negative about this book is that it reads like a textbook. It takes a theory of how these markets rotate with one another and demonstrates it with example after example. It takes work to get through the book, but the payoff is well worth it. In fact the lessons in this book are critical to anyone who wants to become a successful investor. In today's environment of rapid boom and bust in which market timing is critical they are more important than ever. Even though it is 10 years old, this is the best book on the subject.
Covers insights many miss.......2003-06-01
This book and its concept dwells into the area of the financial markets and how they affect each other. Its theory meshes with various other market theories in that if one market goes up, another may respond differently. This is one of the handful of books i would recommend to anyone beginning to get serious about the financial markets. I first picked this up in a state library, much to my amazement it was brand new and never borrowed, much like a lot of the information in it.
Badly needs updating & poorly executed.......2002-11-18
This book is old (1991) and does not cover the important
facet of sector rotation or how to intrepret this book into a meaningful stock play. Murphy in this book does not even hint at it, thus allot of this information is not truly useful. The concept is superb but the execution quite flawed.
Instead get the other Murphy book:Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications OR Martin Pring's new edition to his updated Complete Technical Analysis. Even Murphy's chapter in New Thinking in Technical Analysis: Trading Models from the Masters
was better than this book, despite its short 25 page conciseness.
Funnily his video on this topic DOES update the book and cover Sector Rotation so Murphy obviously is aware of the oversight.
This book is boring with no payoff. There is too much repitition with no real payoff (sector rotation); if you are truly interested in this important field of study look elsewhere.
Book Description
The yield curve is the defining indicator of the global debt capital markets, and an understanding of it is vital to the smooth running of the economy as a whole. All participants in the market, be they issuers of capital, investors or banking intermediaries, will have a need to estimate, interpret and understand the yield curve. Fund managers that accurately predict the shape and direction of the curve will consistently outperform those that do not.
This groundbreaking new book offers:
- An intuitive account of a very important technical subject, cutting through the mathematics to reveal key concepts
- Market approaches to enable fund managers to evaluate the current and expected shape of the yield curve
- An opportunity for market professionals to have an understanding of the latest analytical techniques.
Written by an experienced market practitioner, this book is a clear and accessible account of an important financial topic.
Customer Reviews:
Excellent Synopsis for an Important and Much Ignored Topic.......2007-01-06
If you ever tried to research yield curves, then you will most likely find yourself reading a paragraph or a chapter in at least two books and / or articles. The author's capacity to summarize different bits of information to allow the reader to digest more efficiently this specfic topic is impressive. The book is primarily for an intremediate or expert fixed income person, but he does a good job in the beginning chapters to teach entry level fixed income people. The fixed income universe is divergent in products from bonds, derivative contracts and structured vehicles and it is people like Moorad Choudhry and his talent to amalgamate subject matter that any financial market person should read. All readers will ascertain a top down view of yield curves and if they need to go down to a granular level (i.e. find another book or article), then Choudhry has prepared the reader not to be lost between two trees in a forest.
Excellent all-in coverage.......2006-01-11
This book brings together all related points and saves the practitioner from having to buy 2 or 3 books. It covers bond yield, yield curve estimation and modelling, and then brings it all together in a chapter on relative value trading and yield curve spread trading. An excellent, well-written book that I think all government bond and Eurobond traders and portfolio managers will want to check out.
Get this without a doubt!!.......2006-01-11
It is so rare to find an author whose work is aimed at the rank and file of the finance world. Choudhry has excelled himself once again and clearly knows his work. His writing style is quite the most concise yet detailed and also quite convivial. i am quite sure he is an extremely successful person both personally and professionally.
Finally, an excellent book about the Yield Curve.......2004-04-21
There have been so many books about the yield curve, and all of them so mediocre. It is good to finally have one that describes and analyses the curve for everyone - money managers, bankers, investment analysts. Written in the author's trademark accessible style, this book is like nothing out there, highly recommended.
Mediocre.......2004-04-03
There have been so many good books written about the yield curve that it is hard to imagine why this one was written. It is actually very similar, if not remarkably the same, to a couple of other books previously published. If you have the better written books on this subject, there is no need to buy this. If you don't have them, buy them instead.
Book Description
In today’s volatile financial environment, growing numbers of investors are looking to flee the stock market in search of safer ground. While the bond market has often been a “safe haven,” confusing new bonds and bond funds make it increasingly difficult for unfamiliar investors to choose the correct fixed income investments. The Bond Book provides investors with the information and tools they need to make bonds a comforting, important, and profitable component of their portfolios. Thoroughly revised, updated, and expanded from its bestselling first edition, this all-in-one sourcebook includes: *A new section on using the Internet to research, buy, and sell bonds *A new chapter devoted to increasingly popular foreign bonds *Detailed information on the inflation-linked Treasury bonds *Explanation of the new categories of bond funds *Tips on how to evaluate and buy bond funds
Customer Reviews:
A solid introduction.......2007-09-28
A great introduction to bonds and there place in a portfolio. The perfect place for the individual to start if they are considering purchasing individual bonds for their portfolio.
However, anyone looking for more in-depth information and strategies will likely be disappointed. Relatively little information about Zeros, TIPS and other products that are likely to be of interest. Start here, and then increase your knowledge with a title specific to your interests (i.e. municipal bonds, etc.).
God book but too general.......2007-01-04
I ordered this book for my business library. I enjoyed the book, but if you want more specifics on the methods of detailed bond calculations, I would recommend a good financial investments text book.
Primer on Fixed Income Products.......2005-09-09
Am nearly finished reading the 2nd printing of this excellent tutorial. Although I have been an avid buyer & seller of fixed income products for many years, the author did a superb job of furthering my mid-level expertise especially in the area of municipal bonds. Her plain language explanations were most welcome as opposed to the plethora of financial techno-babble tomes that share the bookshelf. 5 Stars without reservation.
Too Complicated.......2005-04-19
Thau over complicates her points. The book is too difficult to understand. I am an attorney who has been investing in stocks and bonds for over 10 years. This book is not appropriate for any level investor.
Highly Recommended!.......2004-12-22
This is an accessible introduction to bonds by a financial professional whose first book - as unlikely as it may seem - was a study of Max Jacob, the French poet. The literary background of the author, Annette Thau, may account for her book's clear, easy-to-read style. Most authors who write about bonds tend to get lost in the complex mathematics and specialized jargon of the bond markets. Not Annette Thau. Whether you are an individual investor trying to balance your portfolio with bonds, or a student of finance looking for a more lucid explanation of the subject than you can find in your textbooks, we highly recommend this book to you.
Customer Reviews:
Great book.......2007-09-30
The book is clearly satire, and definitely exaggerates a bit, but it still gives you a sense of the Wall Street culture, where people are extremely wealthy but also extremely unrefined (scarfing greasy cheeseburgers while making millions). Very funny. Also extremely informative on topics such as the rise of mortgage bonds and junk bonds as financial tools. The book gives a great portrayal of the genius of the people behind these financial innovations. In fact, its portrayal of people in general is very funny and memorable. One final upside: there are some books, where, if you don't read them for about a week, you have no clue what's going on anymore. This is not one of those. There are relatively few people to keep track of, and they are described so well that you can't forget them.
I would DEFINITELY recommend this book. Funny and informative, a window onto a strange culture known as Wall Street.
Mildly Amusing.......2007-08-28
Michael Lewis' inside look at the heady days of Salomon Brothers during the 1980s and the decay that followed is a mildly amusing, albeit disjointed narrative with little new information. It is funny in parts and some of the character sketches make you pause but overall a strictly average book.
Read "Moneyball" or "The Blind Side" Before This.......2007-07-25
Long before "Moneyball" and "The Blind Side," Michael Lewis wrote "Liar's Poker." It is a short, entertaining story about Salomon Brothers during the highs and lows of the 80's. Salomon created the mortgage bond market. And like many first movers, it exploited its advantage for years. Sellers and buyers barely understood the market. No one understood the bonds' valuations. The only sure thing was that Salomon was going to make money. But ungodly profits enticed competition, and competitors poached Salomon's best traders. Even worse, bond underwriters thought they were more clever each day and created more complicated trading vehicles. Eventually, the market crashed because of excessive supply, complexity, and hubris. In some ways, it parallels what we see with hedge funds today.
Although the book is a simple and entertaining story, it lacks much of the rigorous analytics and insights that are present in Lewis's more recent books. His younger rhetoric is less mature and prone to hyperbole. He desperately tries to hide his arrogance (something you don't see in his later writing). If you're looking for a quick read during a plane ride, then this is a decent story. If you've heard favorable things about Michael Lewis and you want to read one of his books, buy "Moneyball" or "The Blind Side" before "Liar's Poker."
Interesting but not exceptional.......2007-06-27
It provides a good picture of the Wall Street during the 80's but it is sometimes tiring when describing the personality of some characters.
A good recount of some heady times..........2007-06-19
This was a story which had to be told. And it had to be told from the inside. It couldn't have been done any other way, and Michael Lewis does a fairly god job of it.
The book essentially tells the story of the rise and fall from wealth (and grace) of Salomon Brothers, and in particular, their mortgage trading group. Those times were clearly heady ones, with the creation and destruction of ridiculous amounts of wealth - from thin air. (It's a more common phenomenon now given the increasing sizes and reaches of the global financial markets, but this probably represented the earliest of the really big cycles.) Lewis takes us deep into that world, giving us a view from a prime seat in the middle of the best action of those times - at Salomon Brothers. In doing so, he is able to create a fairly strong feel for that world, with all its extravagances and idiosyncrasies, while simultaneously providing a fair amount of objective narrative on the internal and external events. His fleshing out of the characters in the book is well done too, which allows the reader a fair level of involvement and empathy with the events. Another strength of the book is that Lewis never gets too technical, and is able to explain fairly complicated markets in terms simple enough for most people to understand.
On the flip side, I have to caution you that at the end of the day, Lewis might have been a good banker, but he's not a great writer. The book could have been taken to a different level altogether in the hands of a better writer, and much of the strength of this book is eventually derived from the story. That said, overall, I still think Lewis has done a very credible job, and the book is a very worthwhile read for everybody, not just bankers.
Average customer rating:
- Good book - despite the errors
- Solid Reference Manual
- Good book
|
Money Market Bond Calculations
Marcia Stigum , and
Franklin L. Robinson
Manufacturer: McGraw-Hill
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Binding: Hardcover
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ASIN: 1556234767 |
Book Description
The long-awaited companion to The Money Market, Money Market and Bond Calculations is the first book to give precise and thorough explanations for valuing fixed-income instruments throughout the world. Among the many topics covered: Discount paper; Interest-payment and day-count conventions; Interest-bearing paper; Comparing rates on a directly equivalent basis; Zero-coupon bonds; Floating-rate instruments; Floating rate notes; The measure of bond yield; Duration; covered interest arbitrage; Payment in kind (PIK) bonds.
Customer Reviews:
Good book - despite the errors.......2003-12-22
I really like the way the fundamentals of valuation are derived from first principle's. It gives a very good presentation of where the assumptions are made. It is extremely important to understand the assumptions if you really want to know what the results do and do not tell you.
That said, there are several typo's and mathematical errors that really need to be corrected - such as the inverted numerator and denominator in the Newton-Raphson equation presented.
Solid Reference Manual.......2002-12-08
Most people take for granted the calculations used to generate a yield, duration and other fixed income statistic. These values are, more often than not, taken as being absolutes by the people who should most know that they are not always absolute and that yields in one market sector are not always comparable to yields in other market sectors. This book, a long anticipated follow-up to "Money Market Calculations" codifies in a succinct manner the basic conventions used to calculate bond numbers for various market sectors. While the book is certainly not a page-turner, it is a very important reference that should be found on every buy and sell-side trading desk.
Good book.......2000-05-10
I found this is the excellent book for anyone to understand bond yielding calculation. Whether you are experienced bond market player, or just beginner, you can always find something useful in the book. I would rate this book 4 stars.
Book Description
From the Foreword by Charles Schwab
"The Investor's Business Daily Guide to the Markets is. . .clear, concise, innovative, and authoritative, giving you the information you need to make important investment decisions with confidence. Whether you're a new or experienced investor, you'll learn a great deal from this book. What a pleasure it is to discover a book that tells it like it is with no hidden agendas. It's sure to pay you dividends and capital gains again and again in the years ahead."
"Before investing in the markets, you should invest in this book." —Alice Kane Executive Vice President, New York Life Insurance Company
"Investor's Business Daily Guide to the Markets is the quintessential guide for anyone interested in gaining insight and helpful information about the financial markets." —Louis G. Navellier, President, Navellier & Associates Inc., Editor, MPT Review.
"A great book for people who want to understand the markets. Don't miss this comprehensive roundup—the mutual funds chapter alone is worth the price of the book." —James M. Benham, Chairman of the Board, Benham Funds.
"Developing an investment portfolio is like building a house: you must start with a solid foundation. This book gives you the investment foundation you need. Buy it before you put another dollar in stocks, bonds, or mutual funds."—Ted Allrich. author, The Online Investor "The On-line Investor" (America Online).
"Bill O'Neil, for years the unheralded hero of institutional investors worldwide, began offering his expertise to the individual investor over ten years ago through Investor's Business Daily newspaper. Now his Investor's Business Daily Guide to the Markets takes the next step for investors by putting basic financial information into meaningful terms and useful strategies. This is a 'must read' for all investors —big and small." —Richard W. Perkins, CFA, President and Portfolio Manager, Perkins Capital Management, Inc.
Customer Reviews:
Excellent introduction to the stock market........2006-03-01
Even a novice could learn the working of western
economics ( capitalistic ), the influence of Government
intervention, the mechanics of the stock market, and
the way to use the best investment paper today: Investor's
Business Daily. Only criticism: you should have noted
that the book is the same as the one published 10 years ago,
and not a new edition!
Excellent Primer on Stocks, Funds, Bonds, Options, Futures.......2004-03-23
This book is pure gold for investors who are just getting started in playing the market. Coupling this book with a subscription to Investor's Business Daily will help you make good decisions quickly and minimize the punishing losses that naive investors sometimes take. IBD does a good job of explaining technical issues in easy to understand language along with showing pertinent charts and graphs.
Good for beginning CAN SLIM investors.......2004-03-07
This book is actually half decent it isn't near as good as How to make money in stocks but it covers a lot of relevant information for newer investors.
The chapters cover these wonderful topics:
* Capitalism: What it is and why it works
* The stock market: Primer on what stocks are and how the market works
* Mutual funds
* Options
* Bonds
* Futures market
* Economics and economic indicators
The book reminds me of Investing Smart however Guide to the Markets is at least 10 times better and covers more topics, not to mention the writers are much better than Dhun H. Sethna.
I recommend this for beginning CAN SLIM investors.
Reed Floren
A Useful First Step.......2004-01-27
This book is a *primer*, and as such will likely be neither the best nor the worst book you'll ever read on the subject of investing (fwiw, I actually found the content average, and the writing style a bit like summertime in the Sahara). For me though, the book earned its fourth "star" for a single--yet *really* important--reason: its connection to the IBD newspaper. For about $25, _Guide to the Markets_ explains much of its information using the same graphs and other formats as you'll find in the company's daily. *That* is a great deal considering that IBD is one of the best, if more expensive, investment tools available. For its ability to cheaply provide access to that very powerful tool, while also providing other occasional insights, _Guide to the Markets_ is a very good value. (It's nicely indexed enough to serve as a solid reference as well).
Useful material.......2003-12-04
This book's value is in letting you know when to be in the market and when to be out. It is very easy to read and is well written. This book will take the confusion out of hearing finacial reports, and points you towards sources of good information. I use www.stockchase.com . Stock market information is covered quite thourally and it highlights what is the important information to be listening for. Highly Recommended!
Book Description
The Bond Market is a thorough guide to the mechanics of the market for U.S. Treasury securities and their derivative products. It explains the art and science of trading bonds for maximum profit with controlled risk, and illustrates how the best traders apply sound theoretical techniques under battlefield conditions. This is a valuable resource for readers with no prior knowledge of the bond market as well as those who want to enhance their understanding of bond theory with real-life trading tools and techniques. Specific topics include: how traders use mathematics to construct positions, in bonds or their derivatives, suitable for different market conditions and their own market risks; how traders determine the value of different securities and answers the critical question: Is bond movement random or can it be forecast? the consistent approaches used by successful traders that readers can apply quantitatively to analyze the risk/reward profile of any position.
Customer Reviews:
Incredibly Useful.......2004-12-09
There are numerous books on the bond market. Many are so dense as to be opaque. Ray's book is very straightforward and simple. It gives you what you need to know about the fixed income markets in a direct fashion. Excellent for professional and academic alike.
Useful and realistic.......2002-12-29
Book is great for those who want to know how bond trading really works, especially for those just starting out. Good for both salespeople and traders. However, the book is a decade old and has little on ETS and other recent developments. It also has many, many errors which are irritating, thus the 4/5. I should hope that these points are addressed in a second edition. It is otherwise well-written.
Excellent work - the best book to understand bond concepts.......1999-05-09
Ms.Ray focuses on providing a clear conceptual framework for understanding fixed income concepts. The approach is highly intuitive and reader-friendly. A must for anyone trying to get to grips with the concepts of duration, BPV, vols, forwards, etc....
An indispensable tool to a fixed income trader or broker.......1999-01-15
The Bond Market, by Christina Ray was one of the first books I read about fixed income securities that really explained how trading really is in the real world. I am happy to find another copy on ADC. This was used as a text in a class in Grad. school and I lost the book. Highly recommended.
Professionally written, and most of all PRACTICAL!!.......1998-12-21
An extremely well written, concise and sometimes humorous explanation of how the bond market really works. I worked at the Chicago Board of Trade, and it is my opinion that Christina Ray truly understood the complexities and practicallities of the bond market in its entirety. A must read for anyone who thrives on information pertaining to getting the "edge" in an extremely competitive environment.
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