Customer Reviews

Inside the Yield Book: The Classic That Created the Science of Bond Analysis

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Sidney Homer and Martin L. Leibowitz, the authors of this slim volume, accomplish a tough feat. They utter a piece of rudimentary financial advice in one sentence and then launch into mind-bending explanations of the calculus that makes the rudiments true. Maybe that's why their 1972 classic has been in print for three decades. This updated version of the classic includes new forewords and some material that was cut from the original. Unless you're an experienced bond trader or a finance whiz, this primer isn't exactly easy reading. The authors waste little time on hand-holding. Still, it remains a complete look at its topic after all these years. We suggest this book to investors and traders who need a crash course - or a refresher course - in bond analysis.

Yes, a lot of the concepts discussed here can be found in textbooks -- because this book originated those concepts. It remains the most concentrated discussion of bond analytics and trading available. It is a must for anyone contemplating entering the bond market as a professional, or working with bond professionals, or writing about them, or anything else. It is not for beginners -- or rather, it is work for beginners -- but it's in the professional language of fixed income. A head trader once told me this is the one book to read to understand bonds. There are many other worthy books, of course, but this is the one to start with, and it equips you to understand the others.

This book is quite old and deals with topics that can be found in lots of corporate finance books such as pv and fv. You can't see the contents of the book either. If you have or know of the Fabozzi book then get that instead. T