Cover image for Naked guide to bonds : what you need to know-stripped down to the bare essentials
Title:
Naked guide to bonds : what you need to know-stripped down to the bare essentials
Author:
Brandes, Michael.
Personal Author:
Publication Information:
Hoboken, N.J. : J. Wiley, [2003]

©2003
Physical Description:
xi, 242 pages : illustrations ; 24 cm
General Note:
Includes index.
Language:
English
ISBN:
9780471462217
Format :
Book

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HG4936 .B73 2003 Adult Non-Fiction Non-Fiction Area
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Summary

Summary

Professional investors have long understood the importance of bondsin a successful portfolio strategy. Now you can too.

That's because Wall Street bond expert Michael Brandes takes aunique approach to this complex subject-- he makes itsimple . In Naked Guide to Bonds: What You Need to Know,Stripped Down to the Bare Essentials , technical jargon andcomplicated subject matter are translated into a straightforward,easy-to-read style with plenty of examples. What's more, ratherthan writing an all-inclusive book on the bond market, Brandes useshis expertise to eliminate the information that is not relevant toindividual investors. The result is a practical and succinct guidethat empowers you to make informed investment decisions.

Naked Guide to Bonds is written so that each chapterbuilds upon the information that precedes it. That way you'll neverbe thrown for a loop. It begins with basic questions such as: Who issues bonds, and why? And how are bonds bought andsold ? Then you'll learn about the structure of these securitiesand the characteristics that distinguish them from stocks.

Once you're armed with the fundamentals, you'll discover howinflation, interest rates, and changes in the economy impact bondprices. Naked Guide to Bonds also provides insights aboutdifferent types of bonds, including those issued by the U.S.government and its agencies, municipalities, corporations, andinternational issuers. Most importantly, you'll understand how toidentify the bonds that are most appropriate for you.

In the final sections, you'll determine how to:

Assess your risk profile and set goals Construct a portfolio to meet your objectives Implement a customized strategy Evaluate individual bonds and mutual funds Monitor and maintain your portfolio Avoid the most common mistakes Filled with helpful charts and informative "Bare Essentials"summary points at the beginning of each chapter, Naked Guide toBonds provides an effective way to become a smart andsuccessful bond investor. Take a look for yourself and you'll seehow enjoyable and rewarding learning about bonds can be.


Author Notes

MICHAEL V. BRANDES is Director and Fixed-Income Strategist in the Investment Strategy Group at Smith Barney, a division of Citigroup. He is founding author of Bond Market Monthly, the firm's flagship research publication for individual fixed-income investors. He also writes Citigroup's widely popular A Stock Buyer's Guide to Bond Investing and various research articles about fixed-income strategy. Michael earned a BA in English literature from the University at Albany (NY) and an MBA from Columbia University Business School in New York.


Table of Contents

Preface
Acknowledgments
Part 1 What You Want to Know
Chapter 1 Why Bonds?
Chapter 2 Who Issues Bonds? And Why?
Chapter 3 How Are Bonds Bought and Sold?
Chapter 4 Why Buy Bonds Rather Than Stocks?
Part 2 Essential Parts
Chapter 5 Price
Chapter 6 Maturity
Chapter 7 Coupon
Chapter 8 Yield
Chapter 9 Credity Quality
Part 3 Simplifying Key Concepts
Chapter 10 Why Bad News is Good News
Chapter 11 Bond Prices and Interest Rates
Chapter 12 Measuring Volatility
Chapter 13 Armchair Economist
Chapter 14 Evaluating Liquidity
Part 4 Mainstays of the Market
Chapter 15 Treasury Securities
Chapter 16 Agency Securities
Chapter 17 Mortgage-Backed Securities
Chapter 18 Corporate Bonds
Chapter 19 Municipal Bonds
Chapter 20 International Bonds
Part 5 Peripheral Players
Chapter 21 Preferred Securities
Chapter 22 Convertible Securities
Chapter 23 U.S. Savings Bonds
Chapter 24 Certificates of Deposit
Chapter 25 Funds and Unit Investment Trusts
Chapter 26 Money Market Funds
Part 6 Putting it all Together
Chapter 27 Have an Informed Opinion
Chapter 28 Establish a Framework
Chapter 29 Diversification
Chapter 30 Interpreting the Yield Curve
Chapter 31 Managing Volatility
Part 7 Getting Down to Business
Chapter 32 Bond Strategies
Chapter 33 Fund Strategies
Chapter 34 Bonds, Funds, or Both?
Chapter 35 Preparing for changing Rates
Chapter 36 Swaps and Total Return
Chapter 37 What Not to Do
Chapter 38 Practical Matters
Wrapping Up
Glossary
Index