Enter your mobile number below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
Getting the download link through email is temporarily not available. Please check back later.
To get the free app, enter your mobile phone number.
The Strategic Bond Investor: Strategies and Tools to Unlock the Power of the Bond Market Hardcover – July 12, 2010
|New from||Used from|
Excel 2016 For Dummies Video Training
Discover what Excel can do for you with self-paced video lessons from For Dummies. Learn more.
Frequently Bought Together
Customers Who Bought This Item Also Bought
From the Back Cover
An Innovative Approach for Earning Equity-Style Returns-While Offsetting Portfolio Risks-In Today's Bond Market
Bond investinghistorically seen as safe, stodgy, and ultra-conservativecan be every bit as exciting and profitable as the stock market. The Strategic Bond Investor outlines a dramatic new style of bond investing, aggressive yet risk-conscious, that is long overdue for investors who have grown weary of today's "earn it today, give it back tomorrow" stock market gyrations.
The first book to approach fixed income investing from a stock market perspective, The Strategic Bond Investor provides:
- Detailed explanations of different bond types, and how they perform in various market environments
- Key economic reports, and how they influence bond prices and profit opportunities
- Insights into how you can use the yield curve and other key indicators to predict the direction of the markets and the economy
The Strategic Bond Investor describes the tools every investor needs to take part in today's bond marketspotting market extremes, analyzing volume and liquidity, and utilizing dozens of other techniques that until recently were limited to institutional and equity investors. Let its information and guidelines show you how to more effectively hedge risk in your overall portfolio, and uncover new profit opportunities in today's transformed investment marketplace.
"This book will help you to understand the most essential elements of intelligent bond investing. By simply gaining a greater understanding of the many ways the bond market can affect you and by utilizing the tools in this book to your advantage, you'll be on your way toward unlocking the power of the bond market..."From Chapter 1
For decades, professional investors have understood "the power of the bond market" for balancing portfolios, hedging investment risks, and even locking in fast-turnaround trading profits. The Strategic Bond Investor is the first hands-on, plain-English book to reveal the tricks of the fixed-income trade to a larger audience, and explain how all investors can start today to take profitable advantage of the biggest securities market in the worldthe U.S. bond market.
A long-overdue discussion of this accessible and flexible market, The Strategic Bond Investor provides insights and trading tips on subjects including:
- The five largest market segmentsTreasuries, government agencies, corporate bonds, municipal bonds, and mortgage-backed securities
- How the Fed "telegraphs" its moves, allowing investors to stay one step ahead of changing interest rates
- All about the Yield Curvethe bond market's reliable and all-important crystal ball
In addition to the investment dynamics of bonds, this fast-paced book discusses the importance of today's fixed income market to the economy in general. From the vital role of bonds in providing capital to growing businesses to the ways in which increased securitization and innovation assure the continued growth of the bond market, seasoned investment professional Anthony Crescenzi helps you understand every market facetand provides you with a bedrock foundation for making profitable decisions.
Bonds have turned the corner, and are now seen as a vital component of any well-diversified investment portfolio. Learn the rules of the game in The Strategic Bond Investor, and discover short- and long-term techniques and strategies you can use to take advantage of the unlimited potential of bond investing and make it a vital component of your overall trading strategy.--This text refers to an out of print or unavailable edition of this title.
About the Author
Anthony Crescenzi is senior vice president, market strategist, and portfolio manager at PIMCO. He is also the author of Investing from the Top Down and coauthor of Stigum’s Money Market, Fourth Edition.
Top Customer Reviews
But Crescenzi has a much more ambitious agenda. He explains how the yield curve can be used to forecast developments in the economy. Other chapters summarize how to predict trends within the bond market, from analyzing the put/call ratio to interpreting the economic data that a dozen or more agencies spew out every week. He makes the case that knowing the bond market will be useful to anyone with a credit card in his or her wallet.
Crescenzi also wants the book to serve as a general introduction to bonds. There are chapters on "bond basics," types of bonds, risks facing the investor, and then inexplicably late in the book, chapters on credit ratings and using the internet. The latter is particularly weak chapter (Thau's isn't much better.) For whatever reasons, Crescenzi doesn't explain clearly how to use the internet to research individual bonds and check recent trades, and doesn't give the URLs of the sites that let you do this and purchase bonds.
If it sounds like the book is a bit of a hodge-podge, that's because it is. The book's organization leaves a lot to be desired, apart from the scope being too broad. Not only is the sequence of chapters mysterious, but there's a fair amount of repetition. While the writing itself is pretty lively, or at least conversational, I'm not sure Crescenzi has figured out his intended audience.Read more ›
However, as the "Strategic Bond Investor" makes clear, it is imperative to become familiar with bond market dynamics to understand how and why interest rates are set, which in turn affects the economy and the stock market. The book does a wonderful job of laying bare the intricacies of the bond market, at the same time stays away from the more technical aspects. The writing style is very engaging, and the content is very organized. The discussion on Bond Types - how big various types of bond markets are and how they got that way, is fascinating. So are practioner-oriented "rules of thumb" permeating several chapters. Chapter on "real yields" was a bit confusing (when inflation is expected to go up or down, why do real yields move as opposed to "expected inflation"?) I initially felt the visual presentation (charts, graphs, tables etc) was somewhat limited, but as the book progressed, it seemed to be just the right amount, and contained a lot of high impact information. There is a good appendix containing a primer on economic indicators. With this, you'd be better able to judge the reaction of the market to CPI, employment, consumer sentiment, etc., etc.
The book seemed somewhat repetitive at places, but still read well.Read more ›
First, this book is outstanding in terms of the depth of knowledge imparted. If you want to understand bonds in the context of today's market (especially with regard to the all-important Fed), this book is a MUST read. I am convinced that you will become a better investor. Imagine getting taught by one of the top bond managers at the top bond investment firm in the world! This is just that. So: If you're investing in bonds, this book is very important.
I would just say that this book is not an "idiots" guide. I am an intermediate-level investor, with a good vocabulary and a decent understanding of the financial markets. I feel like it's more of a book to train a professional bond portfolio manager. The math is fairly light (only one bit of calculus is introduced - convexity - and it is not vital to understand it in order to understand the book). However, some of the reading is tedious. I feel like the authors could have the benefit of a professional writer (say, a journalist) edit the book for clarity and simplicity.
That being said, if you really want an exhaustive overview of the current bond market, it's a very good book. It also has invaluable advice on how to understand the current market. Just be prepared to re-read paragraphs as you go through to make sure you understand. Also, there are concepts introduced early in the book (like market/quote depth) which are not explained until later. So if you find yourself confused, just hold on, the author will get around to explaining a term perhaps in the next few pages, or even more fully in a later chapter.
Most Recent Customer Reviews
Best book out there about the bond Market , must read in the current context . The author clearly explains with common sense backed by historic data how bonds works treasuries,... Read morePublished 2 days ago by Marc
This is a great understandable technical account of how the bond market works and what affects it.Published 17 months ago by US Reader
Good book, but you have to read it to the end to appreciate it because it was not well organized - the chapters are not arranged sequentially and so it took my reading it all to... Read morePublished 24 months ago by lasgiddi
My purpose in reading this book was to gain a better understanding of the bond market. Over the years I have been moving my retirement account between stocks and bonds based on... Read morePublished on February 23, 2014 by Jeff Henderson
I got this after a friend, who is a day trader, recommended it to me. I got part way through it and found that the author spends too much time going into the history of investing... Read morePublished on December 13, 2012 by Tombo
"The Stategic Bond Investor" is a great way to increase your knowledge about bonds, as well as investing in bonds. Read morePublished on October 1, 2012 by Win
No way this book gets published, except there are a zillion guys like me suffering for an understanding of this Bond Market who will buy a reputable book on the subject. Read morePublished on April 10, 2012 by Patrick T. Mclaughlin
The Strategic Bond Investor is a very informative book for any investment, bonds or equities. It serves as a good reference for a number of investment topics, topics which are... Read morePublished on December 30, 2011 by Nina Corson
Most of the fixed income books just cover the mathematical part of the securities, which is important but not sufficient enough for the trading floor terminologies. Read morePublished on June 5, 2011 by DKNY