Fixed Income Securities: Tools for Today's Markets (Wiley Finance) - Hardcover

Tuckman, Bruce

Hardcover

ISBN 10: 0471112143 ISBN 13: 9780471112143

Verlag: John Wiley & Sons Inc, 1995

Inhaltsangabe

Because they respond to interest rates differently than traditional securities, fixed income securities offer the compelling prospect of increased rewards - and the penalty of added risk. Aimed at money managers and institutional investors, this practical resource shows how to understand and master the fixed income securities market and its new instruments. Using charts and tables that simplify complex subject matter, the guide identifies and describes the USA's array of new fixed income securities - from Treasury strips and caps to floors and swaptions - and shares market-proven approaches to fixed income application and risk control. It takes readers through the basic principles and procedures used in valuing today's fixed income choices and covers the latest fixed income derivatives.

Über diesen Titel

Über die Autorin bzw. den Autor

BRUCE TUCKMAN, PhD, has taught finance and fixed income securities to MBAs, executive MBAs, and fixed income professionals, including participants in on-site training programs at major investment banks. He has published numerous articles and has spoken frequently at academic and professional conferences. Since receiving his doctorate in economics from MIT, he has been an Assistant Professor of Finance at New York University's Stern School of Business and Visiting Assistant Professor at UCLA's Anderson Graduate School of Management. Mr.Tuckman is currently a Vice President at Salomon Brothers Inc.

Aus dem Klappentext

Fixed Income Securities A volatile new breed of fixed income securities have taken the market by storm over the past few years. Offering profit-hungry money managers and institutional investors the promise of far greater rewards than traditional fixed securities, these fickle instruments also entail far greater risk. Due, in great part, to the sometimes violent ways in which these new fixed securities respond to changes in interest rates, old imprecise rules of thumb that worked so well in traditional markets only lead to disaster when applied to the likes of forward contracts, floating rate bonds, inverse floaters, IOs, interest rate swaps, and swaptions. Of course researchers have developed sophisticated tools for analyzing and applying these new instruments, but most of these, unfortunately, are over the heads of average practitioners &133; or are they? In this highly readable, applications-oriented guide to one of today’s hottest financial topics, Bruce Tuckman clearly, methodically, and with a bare minimum of difficult math, describes today’s vast and growing array of new fixed income securities and schools you in cutting-edge techniques for fixed income application and risk control. Using easy-to-follow charts and tables that simplify the most complex subject matter, he walks you through the basic principles and procedures used in pricing today’s fixed income choices—from securities and fixed cash flows to embedded options in corporate bonds and mortgage-backed securities. Working in a methodical, step-wise fashion, Tuckman begins with an in-depth review of the basic concepts and tools for traditional fixed income securities. From there he introduces modern arbitrage-free techniques for pricing more complex fixed income securities and their derivatives. He next acquaints readers with measures of price sensitivity crucial to portfolio risk assessment, asset/liability management, and hedging. And finally, by focusing in turn on futures, floaters, swaps, corporates, and mortgages, he clearly illustrates how to apply the ideas and tools developed in the rest of the book. The most timely, practical, and, above all, the most accessible guide to the subject now available, Fixed Income Securities is a must read for all fixed income professionals, institutional investors, money managers, financial analysts, traders, and other financial professionals.

Details zur Ausgabe

• Verlag: John Wiley & Sons Inc
• Erscheinungsdatum: 1995
• Sprache: Englisch
• ISBN 10: 0471112143
• ISBN 13: 9780471112143
• Einband: Gebundene Ausgabe
• Anzahl der Seiten: 288
• Kontakt zum Hersteller: Nicht verfügbar
• Verantwortliche Person: Nicht verfügbar