Product Description
Investors who've primarily purchased equity securities in the past have been looking for more secure investment alternatives; namely, fixed income securities. This book demystifies the sometimes daunting fixed income market, through a user-friendly, sophisticated, yet not overly mathematical format. Investing in Fixed Income Securities covers a wide range of topics, including the different types of fixed income securities, their characteristics, the strategies necessary to manage a diversified portfolio, bond pricing concepts, and more, so you can make the most informed investment decisions possible. ... Read more

Customer Reviews (2)

good book, but only for professionals in the field
I am not a professional in the financial field but was looking for help in managing the fixed income portion of my portofolio.Thought this book would help me get beyond simple mutual funds or muni bonds.Unfortunately (or fortunately, I guess?) it became clear upon reading this text that to do so, would be impractical without much more research than I was willing to put into individual bonds, not just for purchase but also their later resale, nor the equipment and programs available to professionals in the field.If you want to move beyond simple buy-and-hold in bonds, it doesn't seem very practical to do so unless you are a trained professional in the field.Hence, this book was informative to me in one sense, and I am sure that those in this field would get much more use, but I cannot recommend this to anyone but trained professionals working in this area.

Best Fixed Income book ever read
This book really helped me understand the ins and outs of fixed income securities.I never knew that prices dropped when yields rose and vice versa.Gary Strumeyer is a genius, and i'm sure handsome to boot.I wish there was a picture of him on the cover. ... Read more

Product Description
Bonds have long been a stalwart of investment. More than $100 billion was invested in municipal bonds alone in 2006. Now, with the economy a little less certain than it has been in recent decades, the demand for a secure place to invest money has lead to resurgence in interest in the use of bonds for many investors. Because there are many peculiarities in bond investment, you must have a basic understanding of the market, the bond issuer, how to measure rates of return and how to maximize those rates. This book provides anyone who has never invested in bonds before the ideal handbook to start investing in and earning massive returns from bonds. You will learn everything the savvy investor needs to effectively turn a high risk portfolio into a constantly growing, steadily developing source of wealth. You will learn how bonds operate on a very basic level, including the numerous different kinds of bonds and how bond funds can be a highly lucrative option. You will learn the fundamental differences between government, municipal, and corporate bonds and how much of a return you can expect from each. You will learn the basic methods of valuation and yield that bonds are measured by and how you can evaluate bonds with three basic steps. You will be guided through determining the face value, coupon rate, and sale price of a bond, as well as the ratings, insurance, maturity, callability, and taxes that might be associated with it. The importance of interest rates, inflation, and supply and demand in affecting the yield of your bonds will be detailed as well to ensure you make a careful investment. In addition to a comprehensive guide on the many options and methods of investing in bonds, dozens of interviews with financial gurus from around the nation have been conducted to provide critical, real world advice on how to successfully invest your money into bonds. You will be shown the risk free methods by which to invest in bonds, making low interest returns on U.S. government bonds, as well as the higher risk methods that will allow you to make great returns by investing in industrial and corporate bonds. You will learn how to look overseas for even more lucrative options and how to measure the risk of your bonds based on the debt in which you are investing and the callability of any one bond issuer. You will be shown how to effectively balance your portfolio to include bonds without ignoring the necessity and place for other investments. For any investor who has been agonizing over how to safely invest money for a high return, this book is for you, guiding you through the complex, but rewarding, world of bond investments. ... Read more

Customer Reviews (7)

All-Inclusive Guide for New Investors
The idea of investing in bonds can be intimidating, but The Complete Guide to Investing in Bonds and Bond Funds:How to Earn High Rates of Return - Safely, works to assure the reader by providing a simple and easy read.The author, Martha Maeda, breaks down even the most difficult terminology into a free flowing and enjoyable read.

The first section of the book is all about every type of bond, the history of bonds and how to buy and sell bonds.It is full of helpful charts, tips, case studies and advice, which makes the daunting task of investing seem much less threatening for someone with little knowledge of investments.The history chapter at the beginning of the book is the key to understanding what bonds are all about and how they have affected our country's economic status then and now.Section two begins with a questionnaire to help create and determine what strategy is right for you. It also assists in assessing the risks involved with what types of bonds you are going to purchase and what you can expect to get in return.The last part of the book covers useful resources to help you on your financial journey, including how to do research and how to create and maintain a portfolio.Additionally, the author has listed many websites as well as a glossary for all common financial terms.This book is the complete guide, as it covers everything one would need to know about the world of investments.

Good for newbies
The Complete Guide to Investing in Bonds and Bond Funds: How to Earn High Rates of Return - Safely by Martha Maeda provides the reader with complete information on how to invest in bonds to anyone with any interest in investing. In Chapter 1, Maeda begins by providing a quick, interesting history about bonds and their inception in the United States. She then transitions to outlining the different types of bonds and their pros and cons. After doing so, Maeda guides the reader through the process of making an investment plan and deciding which bonds to invest in by using a detailed list of questions for the reader to answer.

This book is written to be easily read by anyone. Maeda includes many outlined tips meant to catch the reader's eye, providing quick, useful information. The writing is clear and simple and is free of unnecessary financial jargon. Although at times the terms may get to be a bit much, Maeda provides a useful appendix that lists definitions for any terms that the reader may not be familiar with. This book is an excellent resource for people who want to invest their money but who are too busy or wary of the more volatile stock market or for those who simply want to expand their portfolios.

The Complete Guide to Investing in Bonds and Bond Funds: How to Earn High Rates of Return - Safely
Investing in the Bond Market requires a bit of education in advance in order to make the best financial decisions that will bring the greatest rewards in the long term.As this book helps the reader sort through the various options available through Savings Bonds and Bond Funds, the reader is encouraged to determine the best fit for their investment needs and strategies.

Delving into the history of governmental savings bonds also helps the reader understand the difference between the Bond Market and other investment opportunities such as Individual Retirement Accounts.There are advantages to doing both, but the Bond Market offers less of a risk than other options available.

The reader is instructed not to buy what they do not understand; excellent advice for any potential investor.Through the glossary, a list of helpful websites, a list of governing agencies as well as professional agencies that offer assistance in investment strategies, as well as helpful charts that explain the ladder of maturity offered on bonds, this book will serve as a great resource over time to those who choose to invest in this manner.

The Complete Guide to Investing in Bonds and Bond Funds: How to Earn High Rates of Return Safely by Martha Maeda
Martha Maeda is an economic historian with special interests in micro-economics and in the effects of globalization on the lives of people and businesses all over the world. . In this 338 page book, she successfully captured the concerns of a novice investor who may be interested in investing in bonds and has no idea where or how to start. The book is written in 2 sections which make it a useful resource tool for the novice and the expert alike. The novice investor may want to start from section 1 which covers the types of bonds that are available, how to calculate yield and how to plan your investment strategy.history of bonds and bonds investing. Section 2 deals with creating your investment strategy.
After reading this book, a new investor will have adequate information on what bonds mean, this information is written in clear and simple language. It is certainly not the type of investment book that puts you to sleep. It is the book you will enjoy reading and making lots of small notes in the margins. You will find yourself nodding in agreement and in understanding.
I particularly enjoyed the "TIP" section of the book which serves as nuggets of information and draws your attention to very important points you may have missed while reading.For instance, the TIP on zero coupon bonds being reported annually to the IRS, even if it is not being received annually. This will save you a lot of trouble with the IRS.I also liked the information on being careful and responsible for your own investments. She provided a TIP to illustrate this point with Enron's bonds that were rated as investment grade by both Standard and Poor's and Moody's until four days before it declared bankruptcy.
I recommend this book because the wealth of information it provides is timely for the economic situation we are currently in. Reading this book will empower would-be investors with the right kind of knowledge they may require before investing. Investors who also choose to employ a bank or financial adviser, will know the right kind of questions to ask.

I rate this book as a 4 star.

Safe investing made simple
Savings bonds are generally a dependable, safe way to invest your money, especially in today's tough economic climate. Martha Maeda's book, "The Complete Guide to Investing in Bonds and Bond Funds" is just as its title suggests: complete.

Maeda gives a thorough explanation of how to invest your money in a savings bond depending on your current needs. Savings bonds can be versatile, from high-risk "junk bonds" to low-risk bonds from the U.S. Government, Maeda explains how a savings bond can be a useful addition to a stock portfolio or a way for the everyday person to put some money toward their future.

Knowing nothing about bonds or bond investing before reading this book, I was introduced, at first, to a whole lexicon of jargon that I didn't understand. With Maeda's help, I was able to sort through that, learning about "fallen angels" and "sinking funds" and what they mean for investors.

Whether you are an adept stock broker or a first-time investor, Maeda's advice will teach you what type of investor you are and what types of bonds are right for you. The book was user-friendly with a concise table of contents and a glossary at the end for readers to reference any time they come across terminology they do not understand. Maeda's book is to-the-point, giving investors confidence in savings bonds. ... Read more

Product Description
Bonds and bond funds are among the safest and most reliable investments you can make to ensure an ample and dependable retirement income — if you do it right! Bond Investing For Dummies helps you do just that, with clear explanations of everything you need to know to build a diversified bond portfolio that will be there when you need it no matter what happens in the stock market.

This plain-English guide explains the pros and cons of investing in bonds, how they differ from stocks, and the best (and worst) ways to select and purchase bonds for your needs. You'll get up to speed on all the different types of bonds and discover how to know when it's time to sell and how to get the best prices when you do. Find out what you need to know about:

• Buying and selling bonds and bond funds
• Measuring bond risks and returns
• Taxes on bond interest and tax-free bonds
• Customizing and optimizing your bond portfolio
• Common bond-investing mistakes and how to avoid them
• "Risk-free" U.S. Treasury bonds
• Tax-free municipal bonds
• High yield corporate bonds
• The pros and cons agency bonds
• Convertible bonds, derivatives, and other exotic offerings

Packed with sound advice and dependable formulas for ensuring that your bond investments fulfill your retirement goals, Bond Investing For Dummies is the resource you need to put the gold in your golden years. ... Read more

Customer Reviews (6)

Excellent book
Another excellent book from author Russell Wild. Well written and informative. I would also rate the book seller as giving me excellent service and would purchase again from this seller.

Bond Investing For Dummies
I ordered 2 books on bond investing.Luckily, Bond Investing for Dummies arrived first.It was easy to read, and provided a great overview.It is an excellent foundation for understanding different bond types and bond strategies.I'm reading the second bond investing book now.It is written by a professor and reads like a text book.If I had not read Bond Investing for Dummies first, the second book would be difficult to comprehend. I highly recommend this book.

For Dummies?
You are no dummy by buying "Dummies" books!Always THE place to start any self-educating curriculum! Always full of additional references for further study.

Bond Investing for dummies
As with all "Dummies", this is a womb to tomb explanation of the Basics of Bond Investing. I recommend it for everyone especially retirees or those who are about to retire.

Best Book I've Seen on Bond Investing
I've seen many books and articles on bond investing- this one is by far the best in many ways, among them, the most comprehensive- 333 pages packed with useful information- I didnt think anyone could write 333 pages about bonds, which before reading the book I thought would require less study than stock investing, but the author did, writing 333 useful pages on the subject, and in easy to understand, conversation-like language.When I research anything I do it in breadth and depth, asking many questions, and there was no question that the author left unanswered, and then some that I had'nt thought to ask.The book also covers other related investing subjects, such as other sources of fixed income, asset allocation etc etc.There is so much information packed into the book, that not only novice bond investors would profit from it, so would experienced bond investors.I have always aggressively invested in stocks only, but given the current state of the stock market, I'm looking for the safety and predictability of bonds- this book sure helped!This may be an unusually enthusiastic review, but the author deserves it. ... Read more

Product Description
In this companion to his guide to investing in mutual funds, David Scott
examines the complex world of bonds in straightforward language aimed at the individual investor. In addition to learning the basics about bonds — their different maturities, interest rates, guarantees, risks, and tax consequences — readers will discover
• how bonds are valued and traded
• how to choose from among corporate, municipal, and government bonds
• whether tax-exempt bonds are right for their portfolios ... Read more

Customer Reviews (8)

Could have had more...
The book did a very good job at covering the basics, but that's it. The book constantly repeated the information, and if it was meant to drill the information into the readers head, then the author must have been aiming this book at people with no experience, or intelligence. The information was dry, and the book could be reduced to a third of the size. All the information can be found on the internet. No real information on how to invest into bonds, but just what they are and how interest rates and time can change the market value of them.

To end on a positive note... The book is cheap, and if you want to know just the basic information maybe to understand what your 401k is doing, then this book is for you.

A Good Intro, but not everything that you SHOULD know
This is a fair book if you are not very familiar with investing in bonds. Of course many of the things that you read in this book are readily available on the internet for free so you don't necessarily have to buy it and read it. Even if you understand all the things that are in this book you still have a long way to go in investing.

Some Essential Advice

(1) Try to buy bonds when federal funds rate/interest rates are high and sell them when the interest rates are low. Bond Prices and interest rates have inverse relationship.

(2) Do Not Trust rating agencies, ever. You have seen what happened with sub-prime mortgages.

(3) Do Not Watch mainstream financial news such as CNBC or FOX Business.
Try independent blogs such as MaxKeiserdotcom or Bob Chapman.

(4) Do not tamper with junk bonds.

(5) You can try Bond ETFs or Bond Index Funds. Try Vanguard Funds for that matter.

(6) All dollar denominated financial assets or products are at risk of losing their value because the Federal Reserve, a private banking cartel, keeps printing phantom money out of thin air backed by nothing.

(7) Always do independent research and do not listen to your financial advisers.

incomplete
There are much better choices for learning about investing in bonds. Reasonable explanations of the concepts that are covered, but some important concepts aren't included, and, ultimately, there is not enough advice contained to act upon. Disappointing.
Data is old (e.g., federal tax rates from 2003).
No information on bond ladders (how they work, how to build one).
Sections on treasuries and inflation risk contain no information on, nor references to inflation protected bonds (TIPS).

Great little book
This book is written in clear, understandable English and no technical jargon.Where terms need definition or explanation, they're kept simple and concise.Where appropriate, simple examples are given.

If you want to have a better understanding of bonds, the bond market and how the bond market works, this is the book!

Good Introduction to Bonds
I found this book an easy read and quite informative for someone who is not well versed in bonds.I had often considered bonds to be a part of my portfolio but I didn't know enough about them to make an intelligent decision.This book helped me decide how best to purchase bonds (mutual funds, closed-end investment companies, individual bonds) and what things to consider.I highly recommend the book for someone thinking about adding bonds to their investment portfolio ... Read more

Product Description
A money-making formula for navigating the bond market's new rules of fixed income investing

The credit meltdown has completely reshaped the market for government bonds, Treasury bonds, T-bills, and high yield bond funds. Investors are flocking to corporate bonds and municipal bonds. Tax advantaged bonds have become the safe haven of choice. But you have to know where to look. Bonds Now! shows you.

Bonds Now! offers rare insight into safely investing in fixed income vehicles while maintaining necessary liquidity and meeting yield targets. It doesn't waste a lot of time on the elementary basics, but instead, jumps right in and shows you how to build a safe bond portfolio designed to weather turbulent economic downturns.

• Discusses how to quickly analyze a bond as well as buy and sell them
• Examines what it takes to build an impregnable fortress around your bond portfolio
• Reveals how to develop a sixth sense for trouble and sell your bond position while there's still time

There is only one way to guarantee you're getting the right information-get it yourself. Bonds Now! shows you how and where, but even more importantly, this reliable resource clearly explains what to do with it once you have it. This is a knockout formula with proven results. It is the only way to guarantee the bond market won't steal your money.

Today's explosive financial environment demands that investors find a safe haven for their money. Using Bonds Now! as your guide, the bond market is that place. Buy this book today and start your own journey to economic recovery. ... Read more

Customer Reviews (12)

found very little value add here
I write this negative review because I've benefited enormously from the insights of other reviewers on amazon, positive and negative; my honest opinion is i can't see how this book deserves its current rating of 4.5 stars.

For me this book was an absolute waste of money. I was looking for a guide to bond investing or at least some practical information on it. W/ a ostentatious title such as "making money: in the new fixed income landscape", this book seems to confidently advertise itself as such.

Instead I found generic advice I'd find from any broker or generic free online website. To make it even worse, large sections of the book were written as a political diatribe -- I don't pay for people's cheap opinions; I pay for information. And the less likely I'm able to find this information elsewhere, the more I pay for it.

I would not pay much for this book.

**caveat - adding 1 star for author's emphasis of TRACE"

Bonds Now!
If you're buying Munis or thinking about it, get this book.Excellent for beginning and seasoned investors.

Finally, in plain English...
Saw this author on Squawkbox the other day.She seemed intelligent, well-versed in her subject and able to speak clearly and concisely.I don't have an MBA so plain English, or at least language that is understandable by an average person, is greatly appreciated.So glad I picked the book up and ignored the nonsense spouted by an earlier so-called reviewer, who seemed far more intent on reviewing the reviews than the material.

Good Practical Bond Book with strategies on avoiding ripoffs
This bond book is the 2nd one I've purchased recently.It has some examples of how things went wrong in the crash of 2008 and how to invest wisely to minimize the chances of losses in the bond market should another crash occur.I recommend it for that reason.However, like many stock books that talk exclusively about their own subject, this book is very focused on bonds.It seems like we could use a book that talks more about combining stocks with bonds investment strategies and provide guidance on blending the two to create a safe and reasonably secure retirement portfolio that includes the benefits of stock and bond diversification.

Also, bond books, in general, do not really discuss the time scale of interest changes, and this book doesn't exactly cover this topic that well either.The time scale goes back ~80 years to a time just after the great depression when interest rates were as low as they are today.This book doesn't really talk about optimal strategies on managing money in the face of such low short term interest rates as we faced then and are facing today.I still strongly recommend the book purely for it's coverage on how to choose bonds that are fully liquid and why that is important as well has how to diversify the bonds and why that is important.

I strongly recommend the book.

I smell a ringer
I was interested in this book until I read the "reviews".Let's see, an obscure bond book is published on December 9 and within a few days six "reviewers", none of whom have ever previously posted a review on Amazon post syrupy ravingly positive but highly generalized "reviews" that sound like advertising copy written by the publisher.I smell (six) ringers here and if the publisher needs to resort to this kind of phony behavior I bet the book's a dud so I'll pass on it. ... Read more

Product Description
"A delightful instruction to the wonderful world of bonds for the non-professional investor, written in terms that you could explain to your mother-in-law; or that she could explain to you!"
–Paul McCulley
Managing Director and Fund Manager
PIMCO, one of the world’s leading fixed-income managers

"Michael Brandes has written a thorough, useful, and highly readable treatise on bonds. Investors seeking a balanced, diversified portfolio are advised to read it."
–Tom Gardner
Co-founder, The Motley Fool

"This book cuts through the jargon and gets right to the point. A bond market primer that not only teaches the basics, but also is enjoyable to read."
–Gregory Peters
Head of Credit Strategy, Morgan Stanley

"The title says it all. The book is to the point and easy to understand. I wish I had Michael’s so easy-to-understand reference to bonds years ago."
–Alan R. Shaw
Managing Director, U.S. Equity Research
Smith Barney (a division of Citigroup)

"Fixed income can be an enormously complex and confusing asset class–even for seasoned investment professionals–with a dizzying array of instruments and strategies. Fortunately, Brandes has done a marvelous job of pulling back the proverbial curtain, to unveil and demystify the bond market by breaking a complicated topic down into simple, manageable, and understandable building blocks."
–Philip J. Orlando, CFA
Senior Vice President and Senior Portfolio Manager, Federated Investors

"Everything here about bonds is bite size and easy to digest. Pleasantly so. This book marks a clear path for individual investors to follow, and will fill you with many new insights. An extremely handy guide for anyone who wants to invest in bonds for safety and income."
–John Tracy
author of the bestselling book How to Read a Financial Report ... Read more

Customer Reviews (10)

Calculation error in this book?
I have only read chapter 19, on muni bonds, which was of most interest to me. However, on page 119, isn't that an error where when calculating the TEY for the Treasury bond they divide by 1-(federal + state/local) tax rate? Shouldn't that just be 1-(state/local) tax rate since Treasuries are not exempt from federal tax? It looks like they made a cut and past error, pasting in the denominator from the muni TEY calculation of the same page. The difference is 7.9% vs what I think is the correct 5.2%; a big difference.

Lightweight guide to bonds
Full of useless info (the days of the week on which Treasury auctions take place, for example) larded with annoying attempts at humor. Fidelity and Pimco have the essentials about bonds on their websites, the latter for free, so why buy this?

If you're really interested in the fixed-income market, I suggest Patrick Brown's "An Introduction to the Bond Markets". Even if you ignore the math, you'll learn far more, and have a book worth more than a single read.

Excellent Bond Book
I highly recommend this book. It gives thorough and strait-forward information on every aspect of fixed-income investment vehicles. This is a great way to learn about this market if one is new to it.

A Must Have
As a former techie who found his way to the wonderful world of supporting a fixed income desk, I found this book to be an excellent overview of the bond market. The author explains complex concepts such as duration and yield in terms that anyone can understand. This is by far the best introductory book to the bond market I have read (and I have read many)!

Insightful!
In this very good beginner's guide to the bond market, author Michael V. Brandes addresses all of the fundamental questions clearly and concisely. Bond math can be daunting, but while the author includes a few equations for illustrative purposes, he clearly addresses his book to the general run of individual investors. The book, which has moments of surprising good humor, says right off the bat that bond investing can be dull in comparison to stock investing, not because the stakes are lower, but because the elements of personality and surprise are considerably more muted in the debt market than in the equity markets. We highly recommend this book, even though it is pedantic at times - a risk you take when you venture into the complex realm of bond investing. ... Read more

Product Description
A comprehensive, practical guidebook tobonds and the bond market

Speaking directly to the practitioner, this thoroughguide covers everything there is to know aboutbonds—from basic concepts to more advancedbond topics.

The Complete Practitioner’s Guide to the Bond Marketaddresses the principles of the bond market and offersthe tools to apply them in the real world. By tying theconcepts of fixed-income products to big-pictureaspects of the economy, this book prepares readers toapply specific tools and methods that will help themglean profits from the bond market.

Product Description
Fresh, easy-to-understand insights into maximizing income while lowering risk. Investing for Income demonstrates the convincing reasons that bond funds are the nearly perfect investment. For the millions of investors who dream of earning high returns without subjecting themselves to stock market risks, this is the ideal book.

Using clear, concise language, it demystifies the bond market, from the basics of fixed income investing through more advanced investment strategies, and return and risk analysis. For ease of use, it lists top bond funds by category and covers how to assess a fund's management team and select a fund. It also shows investors how to build a strong bond portfolio that complements stock and stock fund holdings. ... Read more

Customer Reviews (4)

Discover how to be successful and safe investing in bond and bond funds.
This book thoroughly covers all aspects of bond and bond fund investing. It is specifically for the person who wants to invest for income, for someone who is retired and needs a certain amount monthly over a lifetime, and for anyone who for whatever reason opts for a bond portfolio.

It describes all the terms used when researching bonds and it talks about all sorts of bonds and bond funds, the advantages and disadvantages of each.

Highly recommended.

All About Bonds!
I read this book cover to cover and it was an education to say the least. Looking for income strategies, I found a foundation to build off of here.

I also give it a Aaa rating!

A Triple-A Investment!
The best guide to investing in bond funds available anywhere!

Perfect for income investors looking to increase their understanding and income potential.

Strategies are a real eye opener!

Very sound techniques for investing in bonds
Ralph does a terrific job introducing the investor to the sometimes complicated world of bonds and bond mutual funds. For any investor who is looking to round out an equity portfolio with fixed income products, or whowants to invest entirely in bonds, this book is absolutely the best placeto start. ... Read more

Product Description
"Excess returns or yields do not come without risk. Bond Portfolio Investing and Risk Management delves comprehensively, but intuitively, into the various risk factors and delivers the tools to understand, measure, control, and take advantage of risk premiums in practicalfixed income investing. As the financial crisis has made all too clear, this book's unifying treatment of risk and return is essential for all bond investors." -- Andrew Ang, Ann F. Kaplan Professor of Business, Columbia Business School

"This moves instantly to the top of my recommended list of important reading for concept-oriented fixed income investors. Profit by learning how a true expert makes risk-return trade-offs when constructing portfolios of bonds and related derivatives." -- Darrell Duffie, Dean Witter Distinguished Professor of Finance,Graduate School of Business, Stanford University

"Vineer Bhansali combines the mathematical rigor of a trained physicist with the commonsense wisdom of a school-of-hard-knocks practitioner to deliver a unique prism into the world of bond investment and risk management post the Financial Crisis. The book is not just valuable, but extremely timely. You won't want to read it quickly, but slowly and thoughtfully, as it is an analytical mosaic, not simply a well-written narrative, even though it is indeed that. Bravo, Vineer!" -- Paul McCulley, Managing Director, PIMCO

"Drawing on his years of experience as a portfolio manage, his knowledge of and contributions to the academic literature, and his quantitative training, Bhansali bridges the gap between book knowledge and the practicalities of successful, long-term investing. By focusing attention on big-picture questions that are often forgotten in the course of portfolio 'optimization'--Which options are you short? Who else is in the trade? What will happen in a liquidity-stress scenario?--this book will help asset managers to improve the risk-returncharacteristics of their portfolios and to avert disasters." -- Bruce Tuckman, author of Fixed Income Securities and Director of Financial Markets Research, Center for Financial Stability

"Fixed-income markets used to be peaceful and quiet, but the last several years have shown that these markets can be a little too exciting from time to time, and in this wonderful volume, Vineer Bhansali has done a masterful job of telling us how to deal with this new fixed-income world. With a Ph.D. in particle physics and enormous practical experience in the markets, Dr. Bhansali is uniquely qualified to help investors and portfolio managers navigate through the choppy waters that will likely characterize the financial system for the next several years." -- Andrew W. Lo, Director, Laboratory for Financial Engineering, MIT Sloan School of Management

About the Book

Bond Portfolio Investing and Risk Management helps you build portfolios to add value through every kind of economic cycle. Sharing his years of experience constructing robust, wellperforming portfolios that have navigated recurring crises, PIMCO portfolio managerVineer Bhansali explores the various risk factors inherent in fixed income investments, including yield curve shifts, twists, liquidity, and evolving risk factors such as government policy. Under an option-theory based riskand-return framework, you will gain intimate knowledge of the right valuation, investment, and risk management tools and confidently put them to use in practical portfolioconstruction.

Basing his conclusions on his own expertise and the latest academic and practitioner research, Bhansali provides valuable insight into topics you would be hard-pressed to find elsewhere, such as:

• Option-based building blocks to valuation
• Measuring liquidity and stress risks
• Asset selection and risk factors
• Building state-of-the-art macro models
• Inefficiencies in the markets
• Cross-market relationships
• Forecasting returns and risks
• Measuring and managing tail risk

Bond Portfolio Investing and Risk Managementsimplifies the concepts you need to understand--without making them simplistic. It offers the newest research-based frameworks for approaching the risks with the greatest likelihood to pay off and walking away from those that won't. While state of the art in its content, the book emphasizes a commonsense approach that has weathered the test of time and market volatility.

From one of the most knowledgeable people in the business, Bond Portfolio Investing and Risk Management may be the most thorough, up-to-date book you will find for constructing highly effective toolkits faster and better than ever before. ... Read more

Customer Reviews (1)

Table of Contents
Table of contents

Section 1: Bond Basics: Treasury bonds and the Yield Curve/Corporate Bonds and Credit Risk/ Derivatives/ Mortgages/ Municipal Bonds/Real Return Bonds

Section 2: Probability Theory and Stochastic Processes:
Normal Random Variables/The Central Limit Theory/ The Probability Distribution forCorporate Bonds Returns/ Correlated Random Variables/ Random Walks/Survival Probabilities/ Correlated Random Walks/Simulation

Section 3: Term Structure Models: One Factor Models and Two Factor Models/Bond Prices, Volatilities/Eurodollar Futures/Futures and Forward Contracts/ Macroeconomics and Two Factor Models

Section 4: Options: Call and Put Options on a Stock/The Merton Model/Options on Interest Rate Sensitive Securities

Section 5: Portfolio Allocation: Utility Functions/The Sharpe Ratio/Beyond Mean and Variance/ Value at Risk/ Examples

... Read more

Product Description
In today's go-go market, investors' attitudes toward risk--as well as toward bonds--have undergone a dramatic transformation. The new rules of bond investing are complex, often confusing, and if misunderstood, potentially expensive. BOND MARKET RULES provides concise, easy-to-read explanations--from investing fundamentals to advanced trading strategies--to give you a comprehensive overview of bond investing. In addition, it is an ideal fingertip reference to today's most trusted rules, helping you know at a glance how a bond should act in any given situation--and just as important, how you should act to protect your investments. Individually, any one of the 50 chapters in BOND MARKET RULES could save you a fortune in portfolio blunders and miscues. Collectively, they provide nothing less than the most comprehensive manual available on knowing the bond market inside and out.

For example: Chapter 3 discusses the true meaning and importance of the yield curve, a popular yet often misunderstood bellwether of possible changes in the economy. Chapter 16 explains the "ladder" strategy--and how it can provide liquidity for long- term bond investors, while minimizing the effects of reinvestment risk. Chapter 27 describes the pluses and minuses of the popular zero coupon bonds, and why they are often preferred for retirement investment accounts. Chapter 49 discusses the promising but volatile new "Brady" bond--what it is, how it works, and why February and March are often the most profitable months to buy a Brady.

Simply put, bonds should be a part of any diversified portfolio. In addition, new attitudes and investment products have made the fixed-income market as exciting and potentially rewarding as the stock market. By presenting and explaining the usefulness of today's top 50 professional bond trading rules, BOND MARKET RULES will tell you everything you need to know about this vibrant, potentially lucrative market. On its own, or in combination with author Michael Sheimo's other nuts-and-bolts guidebooks, it will give you a comprehensive knowledge of the fixed-income investment world, and show you the safest, most profitable ways to include bonds in your diversified portfolio. ... Read more

Customer Reviews (2)

Best Book on Bonds
Bond Market Rules consists of 50 investing axioms by master bondsman Michael Sheimo. These axioms are profound in their applicability. An investor will gain both an understanding of how the bond market works, as well as many specific strategies for making the most of changing market conditions and personal investment goals. Check the table of contents to get an appreciation for the range of ideas covered.

Good Beginner to Intermediate Book
I'm going to be short with this review but I liked the book enough to log into Amazon and at least attempt to write something.First, easy read.Second, good analysis of yield curves.Third, provided a basic understanding of the concepts.Enough to get started.

I am going to buy yet another book on Bonds.It goes into more depth on each type of bond and investing for income.

However, this book was a great start to the cloudy world of bonds and the vocabulary that goes along with it. ... Read more

Product Description
Becoming An Investor: Building Wealth By Investing In Stocks, Bonds, And Mutual Funds gives you practical knowledge and insight that will help you protect and grow your investment portfolio.

By reading Becoming An Investor you will learn:
* The Difference Between Active and Passive Portfolio Management
* The Power of Compounding and How It Applies To Building Wealth
* The Concept of Margin of Safety
* The Importance of Diversification
* Ratio Analysis
* Professional Company Valuation Using Dividend Discount Calculations
* How To Measure Rates of Return And Know How Your Investments Are Really Doing
* How To Preserve Principal
* How To Avoid Making Bad Investment Decisions That Lose Money
* How To Select Mutual Funds
* How To Select And Invest In Turnaround Companies
* How To Select And Invest In Growth Companies
* How To Evaluate Company Risk
* How To Invest For Income
* How To Know If You're Saving Enough For Your Retirement ... Read more

Customer Reviews (4)

A good place to begin learning how to manage your money
Hupalo gives you simple (good) advice to manage your money.

The book is very balanced and it is aimed mainly to the educated general public. You will need only some simple algebra to understand his few valuation formulas.

He writes basically about common stocks and has a chapter discussing bonds. But do not expect market timing methods. It is more directed to Investing than to Trading.

Conclusion: A good place to begin learning how to manage your money. To good sense people.

Proven Way to Sound, Successful, Long-Term Investing
This excellent book is highly commended to anyone who is truly serious about investing. Peter Hupalo is a consultant and frequent columnist on money and entrepreneurship matters. With clear and convincing data to support him, Mr. Hupalo debunks many of the myths Wall Street pushes on the investing public. Author demonstrates the futility of trying to "beat the market", whether through stock picking and market timing or by following mutual funds that have shown high levels of performance in the past. After he makes a convincing case for trying to meet, rather than beat the market. Thus, Mr. Hupalo advocates investing in a diversified basket of mutual funds. The chapter on investing during retirement is particularly insightful.

Whether or not one ultimately agrees with Mr. Hupalo's point of view, "Becoming An Investor: Building Wealth By Investing In Stocks, Bonds, And Mutual Funds" is a book, which deserves attention. Anyone wishing to base his/her investment decisions on solid methodology needs to read this book. You will have a much clearer understanding of markets, and your investment decisions will be firmly rooted in proven soil.

I highly recommend this book for everyone.

Alexander Petrochenkov

A diamond in the rough!
Only available in paperback, no fancy artwork on the cover, no glowing reviews by a big time newspaper publisher, no forward by a prestigious luminary, even the editing is second rate.In a word, this is a rough book.

However, when it comes to content, this book is loaded as the author does not include a lot of fluff or selfish stories about himself.However, the author is obviously very well read, because he includes numerous references to plently of other investing books.Some may conclude it's a value investing book, but growth investing is covered as well.

So, what this book presents is a careful and comprehensive distillation of just about everything commonly available on the subject of investing.Also included are numerous clever stories which illustrate important investment truths and strategies and a recognition that a lot of what the mass media presents is almost worthless for somebody wishing to become an investor.

Make the most of risk-calculated investment
Becoming An Investor: Building Wealth By Investing In Stocks, Bonds, And Mutual Funds is a straightforward primer to the basics of conservative financial investment specifically written for the novice investor seeking to establish a profitable portfolio. From evaluating risks and ratios to diversifying to improve one's margin of safety, just about everything a beginning investor must know is included. For anyone considering putting their money to work for them, Becoming An Investor is urgently recommended, essential reading for participants in today's volatile stock and bond markets in order to help them to make the most of their risk-calculated investment activities. ... Read more

Customer Reviews (1)

Fast Read Investing is a Fast Learning Experience
I found this book to be extremely helpful in explaining (in simple easy-to-understand terms) the basics of stocks, mutual funds and bonds.To get someone up to speed quickly this is the book for you!A lot of valuable information is packed into this inexpensive little book. ... Read more

Product Description
Investing in a secure financial future.

Every investor must understand the complex bond market—and how it’s affected by the existing economic environment. This invaluable volume explains all bond basics without the confusing jargon, providing information on Treasury notes, highyield junk bonds, tax-free municipals, U.S. saving bonds and other tax-free varieties, and much more.

—The Pocket Idiot’s Guide™ to Investing in Stocks is selling phenomenally well
—Seasoned financial writer and pocket-sized format for quick reference
—Explains the bond rating/analysis system
—Offers instructions on how to construct a portfolio and advice on whether a financial manager is necessary ... Read more

Product Description
Looking for help making smarter, more profitable high-end investment decisions? Why buy ten books that cover each of the major topics you need to understand, when High-Powered Investing All-In-One For Dummies gives you ten expert guide for the price of one?

This hands-on resource arms you with an arsenal of advanced investing techniques for everything from stocks and futures to options and exchange-traded funds. You’ll find out how to trade on the FOREX market, evaluate annuities, choose the right commodities, and buy into hedge funds. And, you’ll get up to speed on using business fundamentals and technical analysis to help you make smarter decisions and maximize your returns. You’ll also find ways to be as aggressive as your personality and bank account allow, without taking foolish or excessive risks. Discover how to:

• Conduct preliminary research
• Evaluate businesses
• Invest for growth and income
• Minimize your investing risk
• Read financial statements
• Understand your tax obligations
• Trade foreign currencies, futures, and options
• Get a feel for markets and react quickly to fluctuations
• Spot and forecast pricing trends
• Take advantage of online trading innovations

The key to expanding your investment opportunities successfully is information. Whether you’re just beginning to explore more advanced investing or have been dabbling in it for a while, High-Powered Investing All-In-One For Dummies gives you the information, strategies, and techniques you need to make your financial dreams come true. ... Read more

Customer Reviews (5)

Great book for 75% less
This book was only $[...] and $[...] for shipping. By far less than other places I looked. The book was good quality and I would recommend it to others :)

Very complete
I bought this book because my boyfriend works in Finance. He asked me to go with him to some event and I was a bit lost, everybody is talking about bond, investment..... I am not lost anymore! I don't pretend to be a financial expert but I can now follow the conversation....

High Powered Investing
The authors do an excellent job of explaining the
various investment alternatives available in the
current market. Samples are provided below:

o silver ETFs called PAAS , SLW
o GC most liquid gold
o GLD ETF for gold
o TK- crude oil transporter
o ULCC- huge vessel company
o RIG-offshore drilling
o solar investments - ESLR and STP
o LNT and AYE for natural gas
o XLE- largest energy ETF
o ACH-Aluminum of China
o JSE and LSE- palladium
o SWC and PAC ""
o MICEX - NORILSK nickel

There is an excellent website for gaining a perspective
on how others view a particular stock. (marketvane.net)

The authors provide guidance on how to execute certain
purchases of stocks, puts, calls etc. For instance,
the strike price + option premium costs + transaction costs=BEP
(Break Even Price)

This book would be an excellent investment for the novice
investor. The acquisition is an absolute must for retirees
in the current environment.

Truly written for dummies
Great product if you need to remember definitions of certain terms and how things work in different types of markets. The technical analysis section is very insightful about trends and trend lines, but it does discuss any other type of indicators. A definite beginners book.

ART. Value
The Book gives a good overview of the variety of Investments available. Since I have seen the Book before I ordered it there were no surprises. ... Read more

Product Description

Product Description
Walks the would-be do-it-yourself investor through the steps involved in buying your piece of the stock market. ... Read more

Product Description
Understand the ins and outs of today's surprisingly versatile bond marketplace

As stocks continue their roller-coaster ride, nervous investors will be looking at bonds. FUNDAMENTALS OF THE BOND MARKET gives you the tools you need to master this complex market so you can diversify your portfolio, and get reliable income and safety of principal.Author Esme Faerber has packed this guide with examples, quizzes, checklists, and plain-English explanations to enhance your understanding of everything from the basics of buying and selling to bond ratings, government and international securities, call and convertible features, portfolio management, and more.

Before you risk money in real-time trading, let this hands-on tool bring you up to speed on:

*Three steps that determine the best bond mutual fund for any investor
*Corporate, Municipal, Convertible and Zero-Coupon Bonds - which to buy for individual portfolios
*Treasury securities - how and why to invest in T-bills, notes, and bonds
*Tips of the Trade - techniques to calculate yields, buy and sell different types of bonds, and more ... Read more

Customer Reviews (1)

Great intro to bond market
The title says it all but it does goes into a bit more depth than almost all other books that are trying to cater to the novice. ... Read more

Product Description
Details the rise and operation of the high yield debt market as illustrated by the "junk" bond. ... Read more

Customer Reviews (2)

Book misrepresented
Amazon represents this book as fairly recent.Under the title it has the date Dec 2002. Nowhere does it say that the book was actually copyrighted in 1987. It was reprinted in 2002 but not updated.Further the information in this book only goes through 1985!Therefore the material is very outdated. While some of the principles outlined in the book may still be relevant, it is not backed up by recent data.

In addition, the price for this book is outrageous considering the above.

(Note: Three weeks later, Amazon still is misrepresenting the date of the book.
8-11-10)

A small clubby world: High Yield Bonds
Given that high yield bonds make up fully 25% of U.S. public corporate debt, and 19% of European corporate debt, you'd think there's be more and better books written on the subject.

Think again.

The best material on high yield bonds is written by the underwriters and research departments of large investment banks. It is a market of closed information. Why?

Fees for issuance of a high yield bond are higher than equity IPO fees. Load fees for investing in a high yield bond funds are higher than other fixed income funds.

Nevertheless, this is an indispensable book for those who wish to enter this last bastion and clubby private world of finance: the small, high stakes high yield bond market.

But it desperately needs an update. ... Read more

Product Description
A comprehensive guide to zero coupon bonds, one of the most frequently recommended investments of the last few years. The book shows potential investors how and when to buy zero coupon bonds; addresses volatility; taxation; call and redemption dangers; markups and commissions; what "yield" really means; pricing surprises; construction of the theoretical spot rate curve; how to avoid paying too much; convertible zeros; and more. ... Read more