Fixed Income Securities: Tools for Today's Markets, Second Edition, University Edition [Paperback]

Bruce Tuckman (Author)

Book Description

ISBN-10: 0471063223 | ISBN-13: 978-0471063223 | Publication Date: August 30, 2002 | Edition: 2nd Edition (University Edition)

Includes a series of end-of-chapter questions for students.
* Explains the subtleties of fixed income mathematics.
* Discusses multi-factor interest rate models and offers four original case studies.
* Covers the latest fixed income securities valuation models and techniques, and their application in real world situations.

Editorial Reviews

From the Back Cover

Praise for Fixed Income Securities, Second Edition

"What distinguishes this book from many others on the subject is that Tuckman has skillfully combined intuitive rationale with mathematical analysis to give readers a clear and deep understanding of the market. Tuckman has written a comprehensive reference book that should be found on the desks of both seasoned practitioners and novices alike."
-Gerald Lucas, Senior Government Strategist
Director, Global Securities Research, Merrill Lynch

"This outstanding book offers a well-written and clear tutorial for many of the cutting-edge analytical techniques and models used in practice. Combines a wealth of institutional knowledge, practical tools, and realistic examples, while giving a clear understanding of the underlying theory."
-Francis Longstaff, Professor of Finance
The Anderson School at UCLA

"An excellent reference for anyone intending to bridge the gap between financial mathematics theory and the practice of financial markets."
-Marek Musiela, BNP Paribas

"This is an extremely readable book with a balance between technical detail and practical application. Unlike other books in the area, thorough and tightly knit chapters reflect Tuckman's unique background as a well-respected academic and market participant."
-Tony D. Kao, Managing Director, Global Fixed Income
GM Asset Management

About the Author

BRUCE TUCKMAN, PhD, is a Managing Director in the Fixed Income and Derivatives Division of Credit Suisse First Boston. After receiving his doctorate in economics from MIT, he became a professor of finance at New York University's Stern School of Business and a visiting professor at UCLA's Anderson Graduate School of Management. He began his Wall Street career at Salomon Brothers' Fixed Income Proprietary Trading Group.

Product Details

• Paperback: 528 pages
• Publisher: Wiley; 2nd Edition (University Edition) edition (August 30, 2002)
• Language: English
• ISBN-10: 0471063223
• ISBN-13: 978-0471063223
• Product Dimensions: 8.8 x 6 x 1.5 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.7 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #41,706 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

21 of 24 people found the following review helpful:

5.0 out of 5 stars The best book out there..., July 22, 2003

By 

"bktwist" (New York, NY) - See all my reviews

This review is from: Fixed Income Securities: Tools for Today's Markets, Second Edition, University Edition (Paperback)

Since all of the reviews cover the first edition, it's definitely worth noting that the 2nd edition is much improved. I've read most of the introductory books on fixed income, and none explain the market as clearly and intuitively as Tuckman. Anyone who is joining a fixed income desk or who seeks to learn more about this area should pick up this book before any others. The repo markets, interest rate and asset swaps, forwards, and futures are all covered in excellent detail. There are few discussions of duration and convexity that rival this one. Overall, this book scores high in all major areas and is highly recommended by all those I know who have come across it.

1 of 1 people found the following review helpful:

5.0 out of 5 stars The most efficiently written technical book I've ever come across, July 11, 2010

By 

Dustin E. Currie - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Fixed Income Securities: Tools for Today's Markets, Second Edition, University Edition (Paperback)

The title pretty much sums up my feelings. This book addresses a complicated topic with uncanny efficiency.

1 of 2 people found the following review helpful:

4.0 out of 5 stars Just want to mention a mistake of the book, March 31, 2007

By 

Discage "Tessa" (NYC, NY, USA) - See all my reviews

This review is from: Fixed Income Securities: Tools for Today's Markets, Second Edition, University Edition (Paperback)

On page 116, formula 6.1, the price formula for a bond is actually for a semiannual coupon bond, not as stated on the book, for annual coupon bond.
As a consequence, the dv01, duration and convexity formula it states are for semiannual coupon bonds as well.
I think both Tuckman and Fabozzi's books have their own pros and cons. Tuckman's book touchs more on the trading, which is interesting. Although it could be less rigorous in terms of treating the formulas. I own both books.