Bonds in a Day

Everything you need to master the mathematics that drives bonds

Häftad, Engelska, 2018

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The bond markets can be a bewildering place – the words, the concepts and the mathematics can be mind-bogglingly confusing even to seasoned professionals. In this step-by-step guide, Stewart Cowley – one of the UK's best-known bond managers – takes investors through the basics they need to know to begin understanding bonds.From compound interest, through yield calculations, how the bond markets work and how to make the most out of the bond markets, this practical, easy-to-read handbook uses spreadsheet examples combined with a wealth of experience to help you work through real-world examples of bond management.

Produktinformation

Utgivningsdatum2018-05-08
Mått139 x 216 x 10 mm
Vikt206 g
FormatHäftad
SpråkEngelska
Antal sidor158
FörlagHarriman House Publishing
ISBN9780857196354

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Finansiering inom Ekonomi och ledarskap

Stewart Cowley has been working in financial markets since 1987. He is one of a handful of people to have ever held a triple-A rating by Standard & Poor’s and was awarded the prestigious Gold Medal for long-term investment performance by FE Trustnet. He has also been one of the UK’s most visible fund managers, having written for the New Statesman, the Sunday Telegraph and Citywire. He has made frequent appearances on BBC TV and radio and Sky News. His previous books, Man vs Money and Man vs Big Data, have both been bestsellers.

Bond Basics- Compound interest- Discounting- Pricing a bond- ConventionsYield- Simple yield- Yield to maturityDuration- Concepts- Duration and pricingConvexity- Concepts- Calculating convexityTotal Return Management- Steps to calculating total returnHorizon Analysis- Computing total returns over an investment horizon- Scenario analysisYield Curves- Types of yield curve- Yield simulation and theoriesThe passage of time in bond management- Rolling down the yield curveUsing corporate bonds- Assessing the adequacy of corporate bond yields- Example of total return management using corporate bondsBring it all together- Multi-variable total return analysis

As the title suggests, Bonds in Day is an introductory text to the world of bond mathematics. The author assumes no knowledge on the part of the reader and explains each new concept as it comes up in a simple and informative manner, often mixed in with a few humorous stories.... Any investor interested in improving their knowledge should purchase this book, a well written, step by step guide to this important market.