Bond Math: The Theory Behind the Formulas - Couverture rigide

Smith, Donald J.

Couverture rigide

ISBN 10 : 1576603067 ISBN 13 : 9781576603062

Editeur : Bloomberg Press, 2011

Synopsis

Bond Math 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... Full description

A propos du livre

Quatrième de couverture

Filled with in–depth insights and practical advice, Bond Math covers in concise detail the key calculations finance veterans, as well as aspiring professionals, need to succeed in this field. Engaging and informative, this book is much more than just a guide to bond calculations it skillfully emphasizes how to think about bond math and reveals which numbers are most useful when dealing with bonds.

Throughout these pages, author Donald J. Smith an Associate Professor of Finance at Boston University′s School of Management, who has been actively involved with executive education for over twenty–five years covers many essential issues. You′ll quickly become familiar with everything from money market add–on and discount rates, periodicity conversions, yields to maturity, horizon yields, implied probability of default, and after–tax rates of return to implied spot and forward rates, duration, and convexity. You′ll see how these figures are used with traditional fixed–rate and zero–coupon bonds, as well as floating–rate notes (floaters), inflation–indexed securities (linkers), and interest rate swaps.

This reliable resource puts bond math in perspective, analyzing the circumstances when statistics reported for individual securities can be used to calculate summary statistics for a portfolio of bonds. It also discusses how bond math is used in both aggressive and passive investment strategies, such as taking a view on the yield curve and immunizing the portfolio from interest rate volatility.

If you work in fixed income and use Bloomberg pages to access data on bonds, you need Bond Math.

Présentation de l'éditeur

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.

Détails de l'édition

• Éditeur: Bloomberg Press
• Date d'édition: 2011
• Langue: anglais
• ISBN 10: 1576603067
• ISBN 13: 9781576603062
• Reliure: Relié
• Nombre de pages: 288
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible