Fixed Income Securities: Tools for Today's Markets, 3rd Edition, University Edition: Tools for Today's Markets, University Edition - Brossura

Tuckman

Brossura

ISBN 10: 0470904038 ISBN 13: 9780470904039

Casa editrice: Wiley, 2011

Riassunto

Fixed income practitioners need to understand the conceptualframeworks of their field; to master its quantitative tool-kit; andto be well-versed in its cash-flow and pricing conventions.Fixed Income Securities, Third Edition by Bruce Tuckman andAngel Serrat is designed to balance these three objectives. Thebook presents theory without unnecessary abstraction; quantitativetechniques with a minimum of mathematics; and conventions at auseful level of detail.

The book begins with an overview of global fixed income marketsand continues with the fundamentals, namely, arbitrage pricing,interest rates, risk metrics, and term structure models to pricecontingent claims. Subsequent chapters cover individual markets andsecurities: repo, rate and bond forwards and futures, interest rateand basis swaps, credit markets, fixed income options, andmortgage-backed-securities.

Fixed Income Securities, Third Edition is full ofexamples, applications, and case studies. Practically everyquantitative concept is illustrated through real market data. Thispractice-oriented approach makes the book particularly useful forthe working professional.

This third edition is a considerable revision and expansion ofthe second. Most examples have been updated. The chapters on fixedincome options and mortgage-backed securities have beenconsiderably expanded to include a broader range of securities andvaluation methodologies. Also, three new chapters have been added:the global overview of fixed income markets; a chapter on corporatebonds and credit default swaps; and a chapter on discounting withbases, which is the foundation for the relatively recent practiceof discounting swap cash flows with curves based on money marketrates.

This university edition includes problems which students canuse to test and enhance their understanding of the text.

Su questo libro

L'autore:

Bruce Tuckman holds a PhD in economics from MIT and beganhis career as a professor of finance at New York University's SternSchool of Business. Moving to the industry, he became a managingdirector at Salomon Brothers' Fixed Income Proprietary TradingGroup; ran research groups at Credit Suisse and Lehman Brothers;and, for the Prime Services Division at Barclays Capital, wasglobal head of research and an executive committee member. He isnow the Director of Financial Markets Research at the Center forFinancial Stability, a think tank in New York.

Angel Serrat holds a PhD in finance from MIT. Prior tojoining the industry, he was a member of the finance faculty at TheUniversity of Chicago's Graduate School of Business. He haspublished in journals including The Review of Economic Studies, TheReview of Financial Studies, and Econometrica. He was an executivedirector of strategy groups at Goldman Sachs and Credit Suisse, andlater became a managing director at JPMorgan's global proprietarypositioning business as a portfolio manager and head of strategy.He is currently a partner at Capula Investment Management, a fixedincome asset management firm.

Dalla quarta di copertina:

Praise For Fixed Income Securities

"Fixed Income Securities is excellent, seamlesslycombining theory and experience to make the global fixed-incomemarkets come alive for students and practitioners. It is obviousthat the authors not only understand and articulate theory withease, but also enjoy its application to myriad simple andcomplicated instruments."
—Myron Scholes, 1997 Nobel Laureate in Economics;Frank E. Buck, Professor of Finance, Emeritus, GraduateSchool of Business, Stanford University

"It takes authors who have both insight into financial economicsand a thorough understanding of how markets function to write abook that integrates theory and practice so effortlessly. As marketturmoil forces us to revisit historical relationships, the book'ssetting of applications and data in the context of sound theory isparticularly useful."
—Ravi Mattu, Managing Director and Head of Analytics,PIMCO

"Fixed Income Securities conveys intuition, is full ofexamples, and is comprehensive in its coverage. Professionals willfind valuable insights in the authors' treatment of advancedtopics; students will value the careful organization andpresentation of ideas. I recommend it very highly indeed.
—Krishna Ramaswamy, Edward Hopkinson, Jr., Professorof Investment Banking, The Wharton School, University ofPennsylvania

"This is a great reference book for fixed income students andpractitioners alike, which seamlessly combines mathematicalconcepts with practical applications."
—Kostas Pantazopoulos, Global Head of Interest RateProducts, Goldman Sachs

Su questa edizione

• Editore: Wiley
• Data di pubblicazione: 2011
• ISBN 10: 0470904038
• ISBN 13: 9780470904039
• Rilegatura: Copertina flessibile
• Numero edizione: 3
• Numero di pagine: 648