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Bond Math: The Theory Behind the Formulas (Wiley Finance)

Smith, Donald J.

Editore: Wiley Finance, 2011
ISBN 10: 1576603067 / ISBN 13: 9781576603062
Nuovi / Hardcover / Quantità: 1
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Titolo: Bond Math: The Theory Behind the Formulas (...

Casa editrice: Wiley Finance

Data di pubblicazione: 2011

Legatura: Hardcover

Condizione libro: New

Descrizione:

Brand New, Unread Copy in Perfect Condition. A+ Customer Service! Summary: A guide to the theory behind bond math formulas Bond Math explores the ideas and assumptions behind commonly used statistics on risk and return for individual bonds and on fixed income portfolios. But this book is much more than a series of formulas and calculations; the emphasis is on how to think about and use bond math. Author Donald J. Codice inventario libreria ABE_book_new_1576603067

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Riassunto: A guide to the theory behind bond math formulas

Bond Math explores the ideas and assumptions behind commonly used statistics on risk and return for individual bonds and on fixed income portfolios. But this book is much more than a series of formulas and calculations; the emphasis is on how to think about and use bond math.

Author Donald J. Smith, a professor at Boston University and an experienced executive trainer, covers in detail money market rates, periodicity conversions, bond yields to maturity and horizon yields, the implied probability of default, after-tax rates of return, implied forward and spot rates, and duration and convexity. These calculations are used on traditional fixed-rate and zero-coupon bonds, as well as floating-rate notes, inflation-indexed securities, and interest rate swaps.

  • Puts bond math in perspective through discussions of bond portfolios and investment strategies.
  • Critiques the Bloomberg Yield Analysis (YA) page, indicating which numbers provide reliable information for making decisions about bonds, which are meaningless data, and which can be very misleading to investors
  • Filled with thought-provoking insights and practical advice, this book puts the intricacies of bond math into a clear and logical order.

Dal risvolto interno: The U.S. bond market, which includes everything from Treasuries and investment-grade corporate paper to municipals and high-yield bonds, is one of the largest and most important markets in the world. In order to succeed in this arena, it helps to have a firm foundation in bond mathematics and a working knowledge of how certain bond numbers arecalculated as well as which ones are most useful.

No one understands this better than author Donald J. Smith?an Associate Professor of Finance and Economics at Boston University's School of Management?who has been actively involved with executive education for over twenty-five years. And now, with Bond Math, he shares his experience in this field with you.

Filled with in-depth insights and expert advice, this reliable guide outlines the essential theory behind bond math formulas. Page by page, it skillfully explains the ideas and assumptions behind the commonly used statistics regarding the risk and return on bonds. The Bloomberg Yield Analysis(YA) page, which is widely used for bonds, is thoroughly explained and critiqued, indicating which numbers provide reliable information, which ones are meaningless data, and which ones can be misleading to investors.

Opening with an informative chapter on money markets?where rates do not follow the classic "time-value-of-money" principles taught in introductory finance courses?Bond Math quickly moves on to cover:

  • Zero-Coupon Bonds

  • Prices and Yields on Coupon Bonds

  • Bond Taxation

  • Yield Curves

  • Duration and Convexity

  • Floaters and Linkers

  • Interest Rate Swaps

Rounding out this detailed discussion of bond mathematics are two chapters dedicated to bond portfolios and investment strategies,placing the math in perspective.

Whether you currently work with bonds or aspire to, understanding the math behind bonds and then carrying out specific calculations with itis essential to investment success. Bond Math will put you in a better position to achieve this goal and show you what it takes to excel atthis difficult endeavor.

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Indirizzo: Lewiston, NY, U.S.A.

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Valutazione libreria: 4 stelle

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