Bond Markets: Analysis and Strategies (4th Edition) (Hardcover)

by Frank J. Fabozzi (Author)

Editorial Reviews

Product Description

This comprehensive reference on bonds takes a practical real-world approach to the subject. It contains detailed presentations of each type of bond and includes a wide range of products. Extensive discussions include not only the instruments, but also their investment characteristics, the state-of-the art technology for valuing them, and portfolio strategies for using them. Chapter topics include pricing, measuring yield, price volatility, municipal securities, non-U.S. bonds, performance measurement and evaluation, and interest-rate options. For portfolio managers and analysts in their quest for sound investments, and for individuals seeking to become more knowledgeable investors.

From the Publisher
This comprehensive textbook on bonds takes a practical real-world approach to the subject. It includes a detailed discussion of each type of bond including a wide range of products. The text features comprehensive discussion of not only the instruments, but their investment characteristics, the state-of-the art technology for valuing them, and portfolio strategies for using them. --This text refers to an out of print or unavailable edition of this title.

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Product Details

• Hardcover: 624 pages
• Publisher: Prentice Hall; 4th edition (August 6, 1999)
• Language: English
• ISBN-10: 0130402664
• ISBN-13: 978-0130402660
• Product Dimensions: 9.5 x 7.3 x 1.1 inches
• Shipping Weight: 2.3 pounds
• Average Customer Review: 4.0 out of 5 stars See all reviews (8 customer reviews)
• Amazon.com Sales Rank: #149,751 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

22 of 25 people found the following review helpful:

4.0 out of 5 stars A lot of hand waving, but does help, April 3, 2002

By	Sunanda Dutta "kolikata" (Hoboken, NJ) - See all my reviews (REAL NAME)

A little too wordy, but as a management text, I guess its a prerequisite. It covers the gamut of fixed income securities, but only approaches the problems deterministically. The first thirteen chapters are "text" chapters, with the real math starting in chapter 14. However, the math used is elementary, and will not be of much help in the real world. For the fixed income math portion look into "Bond Pricing and Portfolio Analysis" by Olivier de La Grandville.

For a first course in bonds, and if the student has no prior background, this book will indeed be useful. But, for advanced students the book mentioned above should be more insightful.

14 of 15 people found the following review helpful:

5.0 out of 5 stars Excellent introduction to Bond Markets - VERY well written, June 14, 2002

By	Craig Matteson (Ann Arbor, MI) - See all my reviews (TOP 50 REVIEWER)

If you think of this as an introductory book to the world of Bonds rather than a field manual for professionals you will find this to be a wonderful book. I find it to be engagingly written (yes, engaging!) with well-chosen examples. It is very nice to be able to read a book about Bonds and find it stimulating. It would have been easy to write a book that could act as a sleep-aid. Instead, this book provides learning objectives for each chapter and the prose is so inviting that I felt the book to be a page-turner.

The math used is not complicated and is chosen to help understanding rather than demonstrate the sophisticated math used in the actual world of bond trading. If you want that kind of material this isn't the book for you.

I don't know if there is a solutions manual available, but I couldn't find it. If there isn't, there should be. I have never had a college course that used the problems in the book for actual coursework and yet, no matter how simple the problems seem, it is nice for the student to be able to confirm that he or she has indeed found the right answer.

There are also many helpful footnotes that point to materials for further and deeper reading on the subjects introduced in this fine book.

13 of 15 people found the following review helpful:

5.0 out of 5 stars I reviewed this book for the publisher (prior edition), April 21, 2004

By	Russ Wermers (University of Maryland) - See all my reviews

This review is from: Bond Markets, Analysis, and Strategies (5th Edition) (Hardcover)

I was a major peer reviewer for the publisher of "Bond Markets, Analysis and Strategies," and have used it several times (perhaps as many as 10 semesters) for both undergrads and MBAs. I have no incentive to give this book any particular rating, but I HIGHLY RECOMMEND IT TO EITHER PRACTITIONERS AND ACADEMICS, AS IT IS AN EXCELLENT TEXT! There are very few weaknesses, and I disagree with most of those cited by the other reviewers listed here. It is clear, concise, loaded with examples, and beautifully written. It is also closely tied to real-world practice without sacrificing the mathematical modeling. Of course, it is no high-level bond pricing text, but it is not supposed to be--it is a broad introduction to bond markets. As such, it succeeds remarkably. In fact, I often refer to it to refresh my own understanding of the structure and pricing of these markets.

I highly endorse it, and will continue using it.