Fixed-Income Securities: Valuation, Risk Management and Portfolio Strategies (The Wiley Finance Series)

Book Description

The text will be supported by a set of PowerPoint slides for use by the lecturer
First textbook designed for students written on fixed-income securities - a growing market
Contains numerous worked examples throughout
Includes coverage of important topics often omitted in other books i.e. deriving the zero yield curve, deriving credit spreads, hedging and also covers interest rate and credit derivatives

Download Description

This textbook will be designed for fixed-income securities courses taught on MSc Finance and MBA courses. There is currently no suitable text that offers a 'Hull-type' book for the fixed income student market. This book aims to fill this need. The book will contain numerous worked examples, excel spreadsheets, with a building block approach throughout. A key feature of the book will be coverage of both traditional and alternative investment strategies in the fixed-income market, for example, the book will cover the modern strategies used by fixed-income hedge funds. The text will be supported by a set of PowerPoint slides for use by the lecturer First textbook designed for students written on fixed-income securities - a growing market Contains numerous worked examples throughout Includes coverage of important topics often omitted in other books i.e. deriving the zero yield curve, deriving credit spreads, hedging and also covers interest rate and credit derivatives

Customer Reviews:

Mixed Feelings.......2006-03-22

Although I believe that a physics background is much helpful in understanding economy and finance rather than a mathematics background, I think a good knowledge of mathematics can make the financial concepts in this book be clearer to the reader more than the authors present. In other words, some finance persons are written this book yet the mathematics they use mean more in finance for mathematicians than its authors. Unfortunately in this book, the interpretation of mathematics in finance is much less than given by the authors, yet should be much more.

Tremendous Resource.......2006-02-22

Finally a fixed income book to rival the Fabozzi syndicate. The primary advantage of this book is that the pedagogy is integrated and progressively builds understanding in the same manner as my best professors taught. It is a book of tools that, if mastered, will render an effective fixed income toolbox suitable for mid-level fixed income positions.

An aside on the math in the book . . .
Fixed income is a necessarily quantitative asset class. For example, duration and convexity are first and second derivatives of equations. However, to use duration and convexity you only need a modicum of algebra. Calculus and linear algebra will certainly lead to a deaper understanding of the topics, but it will not diminish usefulness if you lack the maths.

Imagine purchasing a book in french with the english translation on the facing page. Is the value of the book diminished because it includes my non-native french? In my opinion, no. Any [CFA, FRM, PRMIA, MBA student, finance/economics u-grad] has the chops to master the content in this book.

Disappointing.......2005-08-31

I thought this book would be a comprehensive survey of fixed income securities. I guess I shouldn't put so much faith in book titles. The book was more like a study in archaic mathmatics.

After the first few chapters of everyday overview, the author feels compelled to burst into nebulous formulas and esoteric notation in a hyperactive manner much to breathless to bother with explaining anything.

Good for those who have doctoral degrees in math; bad for anyone else.

The best book on fixed-income.......2005-04-03

This book is for people proficient with mathematics. It is concise and well-written. I have read many other fixed-income books by Fabozzi and others and that are vague and wordy. This one, however, is practical, to the point and yet academically solid. I wish I had come over this book earlier! This book will once and for all learn you that duration of a bond is the investment horizon such that investor with that horizon will not care if interest rates drop or rice as long as changes are small. You will also learn that you need a three-factor model to price bonds. I especially enjoyed Chapter 7 on passive investment strategies. This chapter actually gives you an optimization model for bond index tracking. Chapter 8 on active investment strategies describes market timing strategies like the butterfly strategy. All chapters have references listed at the end. This is very useful if you want to study some topics in detail. I highly recommend this book.

A Waste of Money and Time.......2005-03-09

The book starts with very basic introduction to fixed income and then suddenly from chapter 6 turns into some kind of math textbook. Who is the target market of this book? Definitely not practitioners. To use this book you need to have an excellent knowledge of probability theory, econometrics, calculus and you need to have a good theoretical degree in either finance or economics. The trouble is, of course, that those who have this knowledge do not read such book. Instead they read the actual academic journals. I did my BCom and my MSc in Finance and I am currently studying for my CFA level 3 and I currently work as a Fixed Income Strategist so I would consider myself as at least "average" in terms of my education and knowledge of fixed income markets and I can tell you that I can not understand more than half of what is in that book, and I don't want to either. Most of those "rocket-science" term-structure models are useless anyway.

So if the book is not for practitioners then maybe it is for students? Well, I think any professor would have to be nuts to torture students with such a poorly written book. There are so many other, more useful and better written books.

Please do not waste your money.

Book Description

Before you can buy or sell a company for the right price, you must first accurately determine its value in today's market. Straightforward and complete with helpful case studies, Valuing Your Privately Held Business, Revised Edition, thoroughly explains every facet of this topic, from accounting problems to tax and legal considerations to forms of payment. In addition, the book tells you the many reasons you need to understand valuation practices, and demonstrates three critical fundamentals: how to value a specific business based on your specific purpose; how to maintain control while avoiding adverse tax consequences; how valuation can help you achieve vital and financial and estate planning goals.

Customer Reviews:

Poor Guide to Valuing Business For Sale.......2002-01-02

Book was written primarily for the purpose of valuing businesses for estate tax purposes. Provides a lot of IRS code information and tips to beat the IRS. Blackman does NOT, however, provide a reasonable analytical framework for providing a valuation for actually buying or selling a business, or for valuing the business for the purpose of selling partial equity (such as to a venture capitalist).

Blackman's writing style is also painful to read -- full of trite, archaic cliches.

An Organized Review for Business Professionals.......2000-06-12

I found this book to be an excellent tool to guide the valuation of a small business. I used the techniques discussed with only minor modifications to meet the particular situation and found I had nearly duplicated the brokers results. Unfortunately, the transaction did not to through as the owner was unrealistic in his analysis... and 4 years later is still trying to sell (the broker resigned after my offer was refused).

I am buying a new copy, sans my margin notes and dog-ears, to give a friend who is preparing to sell his business.

Average customer rating:
Valuation: The Art and Science of Corporate Investment Decisions (Addison-Wesley Series in Finance)
Sheridan Titman , and John D. Martin
Manufacturer: Addison Wesley
ProductGroup: Book
Binding: Hardcover

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ASIN: 0321336100

Book Description

Valuation: The Art and Science of Making Corporate Investment Decisions is the first textbook to offer an integrated approach to both project and enterprise valuation. The text goes beyond standard DCF analysis by including additional valuation methods commonly used in practice, such as comparables, simulations, and real options. Overview of Evaluation. Project Analysis Using Discounted Cash Flow (DCF): Forecasting and Valuing Cash Flows; Project Risk Analysis. Cost of Capital: Estimating a Firm’s Cost of Capital; Estimating Required Rates of Return for Projects. Enterprise Valuation: Relative Valuation Using Market Comparables; Enterprise Valuation; Valuation in a Private Equity Setting; Earnings Dilution, Incentive Compensation, and Project Selection. Futures, Options, and the Valuation of Real Investments: Using Futures and Contractual Options to Value Real Investments; Managerial Flexibility and Project Valuation: Real Options; Strategic Options: Evaluating Strategic Opportunities. For all readers interested in project and enterprise valuation.

Agency valuation is an art, not science. (Cover Story).(marketing effectively): An article from: National Underwriter Property & Casualty-Risk & Benefits Management

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Agency valuation is an art, not science. (Cover Story).(marketing effectively): An article from: National Underwriter Property & Casualty-Risk & Benefits Management
Steven S. Wevodau
Manufacturer: The National Underwriter Company
ProductGroup: Book
Binding: Digital

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Book Description

This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on November 18, 2002. The length of the article is 2198 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Agency valuation is an art, not science. (Cover Story).(marketing effectively)
Author: Steven S. Wevodau
Publication: National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: November 18, 2002
Publisher: The National Underwriter Company
Volume: 106 Issue: 46 Page: 12(3)

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Appraisal or Valuation: An Art or a Science? (CRE Perspective).(Industry Overview)(Polling Data)(Column): An article from: Real Estate Issues

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Appraisal or Valuation: An Art or a Science? (CRE Perspective).(Industry Overview)(Polling Data)(Column): An article from: Real Estate Issues
Barry G. Gilbertson
Manufacturer: The Counselors of Real Estate
ProductGroup: Book
Binding: Digital

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Book Description

This digital document is an article from Real Estate Issues, published by The Counselors of Real Estate on September 22, 2001. The length of the article is 1918 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Appraisal or Valuation: An Art or a Science? (CRE Perspective).(Industry Overview)(Polling Data)(Column)
Author: Barry G. Gilbertson
Publication: Real Estate Issues (Refereed)
Date: September 22, 2001
Publisher: The Counselors of Real Estate
Volume: 26 Issue: 3 Page: 86(3)

Article Type: Industry Overview, Polling Data, Column

Distributed by Thomson Gale

The Art and Science of Business Valuation

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A pre-primer of business valuation

The Art and Science of Business Valuation
Albert N. Link , and Michael B. Boger
Manufacturer: Quorum Books
ProductGroup: Book
Binding: Hardcover

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ASIN: 1567201717

Book Description

The number of business valuations has exploded over the past decade, as has the number of would-be valuators. Link and Boger provide a sorely needed introductory overview of business valuation methods that points clearly to the limitations of the application of valuation and the strength and weaknesses of valuation tools. While Link and Boger cover the mechanical science of business valuation, they also concentrate on the intuitive art of valuation, emphasizing the distinction between the two. Based on more than three decades of valuation experience and teaching of the associated methodologies, they give the novice valuator an understanding of the elements of art and science in the practice of business valuation and an appreciation that both elements are important. A valuable tool for students and professionals dealing with business valuation issues.

Customer Reviews:

A pre-primer of business valuation.......2001-04-17

The best part about this book is its title, emphasizing that business valuation is art coupled with continuously developing financial theory. Unfortunately, the theoretical concepts in the book are of virtually no value to anyone with even a fundamental schooling in the theoretical aspects of business valuation.

Not only is the work light on theory, but it ignores generally accepted techniques in the discussion certain technical valuation concepts.

Anyone with a solid grounding in the core "Valuing A Business" textbook of Shannon Pratt, should save his money and, instead of buying this book, acquire some of the supplemental texts of Pratt, Reilly and Schweihs. They're more expensive, but worth it.

For someone who wants to understand business valuation and have a usable and accepted reference, buy Pratt's 4th Edition.

This book may have limited value to someone not active in the field who wants a very basic introduction, but reading it will give the reader only enough information to be confused if asked to apply what he has learned.

Book Description

Gary Minda's critical study of boycotts in American law and culture focuses on how the word boycott has developed as a metaphoric, rather than as a rational or logical, form of reasoning. Minda first discusses the history, interpretation, and understanding of boycotts. He then turns to the role of metaphor in the interpretation of boycotts and of boycott law.

Drawing on cognitive psychology and linguistic theory, Minda argues that the metaphors judges choose in describing boycotts determine how they view boycotts: "[F]rom the very first time the word boycott appeared in a reported decision in America, judges have used the word to signify inflammatory, as well as sublime, legal meanings and connotations. Judges have compared group boycotts to 'bloodthirsty tigers' and they have analyzed boycott activity as if it were a 'disease' infecting the internal biological system of the body. Judges have compared group boycotts to 'soapbox oratory,' and they have concluded that boycott activity is a 'special form of political communication.'"

For lawyers, judges, and legal scholars, this book provides a clear and cogent examination of boycott law. Linguistic and cognitive theorists should find the book useful for illustrating how metaphor and cognitive theory can be used to analyze legal opinions. Historians will find new histories of boycott. Lay readers interested in understanding the role of boycotts in American law and society will find the book insightful.

Book Description

Biology has been advancing with explosive pace over the last few years and in so doing has raised a host of ethical issues. This book, aimed at the general reader, reviews the major advances of recent years in biology and medicine and explores their ethical implications. From birth to death the reader is taken on a tour of human biology - covering genetics, reproduction, development, transplantation, aging, dying and also the use of animals in research and the impact of human populations on this planet. In each chapter there is a sketch of a field’s most recent scientific advances, combined with discussions of the ethical and moral principles and implications for social frameworks and public policy raised by those advances. Anybody interested or concerned about the ethical dilemmas caused by advances in science and medicine should read this book.

Book Description

Combining the contemporary knowledge from widely scattered sources, this is a much-needed and comprehensive overview of the field. In maintaining a balance between theory and experiment, the book guides both advanced students and specialists to this research area.

Topical reviews written by the foremost scientists explain recent trends and advances, focusing on the correlations between electronic structure and magnetic properties. The book spans recent trends in magnetism for molecules—as well as inorganic-based materials, with an emphasis on new phenomena being explored from both experimental and theoretical viewpoints with the aim of understanding magnetism on the atomic scale. The volume helps readers evaluate their own experimental observations and serves as a basis for the design of new magnetic materials.

Topics covered include:

Metallocenium Salts of Radical Anion Bis-(dichalcogenate) metalates
Chiral Molecule-Based Magnets
Cooperative Magnetic Behavior in Metal-Dicyanamide Complexes
Lanthanide Ions in Molecular Exchange Coupled Systems
Monte Carlo Simulation
Metallocene-Based Magnets
Magnetic Nanoporous Molecular Materials

A unique reference work, indispensable for everyone concerned with the phenomena of magnetism.

Book Description

This volume is based on a conference held at SUNY, Stony Brook (NY). The concepts of laminations and foliations appear in a diverse number of fields, such as topology, geometry, analytic differential equations, holomorphic dynamics, and renormalization theory. Although these areas have developed deep relations, each has developed distinct research fields with little interaction among practitioners. The conference brought together the diverse points of view of researchers from different areas. This book includes surveys and research papers reflecting the broad spectrum of themes presented at the event.

Book Description

Foliations, groups and pseudogroups are objects which are closely related via the notion of holonomy. In the 1980s they became considered as general dynamical systems. This book deals with their dynamics. Since “dynamics” is a very extensive term, we focus on some of its aspects only. Roughly speaking, we concentrate on notions and results related to different ways of measuring complexity of the systems under consideration. More precisely, we deal with different types of growth, entropies and dimensions of limiting objects. Invented in the 1980s (by E. Ghys, R. Langevin and the author) geometric entropy of a foliation is the principal object of interest among all of them.

Throughout the book, the reader will find a good number of inspirating problems related to the topics covered.

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Foliations: Geometry and Dynamics

Manufacturer: World Scientific Publishing Company
ProductGroup: Book
Binding: Hardcover

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Book Description

This volume contains surveys and research articles regarding different aspects of the theory of foliation. The main aspects concern the topology of foliations of low-dimensional manifolds, the geometry of foliated Riemannian manifolds and the dynamical properties of foliations. Among the surveys are lecture notes devoted to the analysis of some operator algebras on foliated manifolds and the theory of confoliations (objects defined recently by W Thurston and Y Eliashberg, situated between foliations and contact structures). Among the research articles one can find a detailed proof of an unpublished theorem (due to Duminy) concerning ends of leaves in exceptional minimal sets.

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A Delightful Mystery

A wonderful read if you like this sort of thing (and I do)

Home Sweet Homicide (Rue Morgue Vintage Mystery)
Craig Rice
Manufacturer: Rue Morgue Press
ProductGroup: Book
Binding: Paperback

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ASIN: 0915230534

Customer Reviews:

A Delightful Mystery.......2002-12-14

Three children of a widowed mystery writer strives to solve the murder next door - to get their mother some publicity (and maybe a love interest). This is a great read! Read it years ago and adopted the children's secret language to use with my friends. Am still reading it at least once a year. If ONLY the movie made from this book (starring Dean Stockwell as the son, Lynn Bari as the mother and Peggy Ann Garner as one of the daughters) could be re-released on videotape!! It was a three-star rated movie and beats anything other old movie shown today!

A wonderful read if you like this sort of thing (and I do).......2002-11-12

I'm very happy to see this book back in print. If you're a Rice fan as I am, you've probably had to scour used book stores, desperately seeking any weather-beaten old copy of a novel by the once famous, now forgotten, Craig Rice (under one of her many pseudonyms).

If you're looking for realism or 40's style noir, look elsewhere. Unlike Rice's other novels this one could be described as a cozy. And though it lacks the semi-hardboiled, alchohol-inspired zaniness of her Malone books, this novel more than makes up for it in charm.

To summarize the plot: the three (very independent) children of a mystery writing mother solve a murder and play matchmaker for their mother at the same time. It has a certain period charm to it, with malt shops and secret alphabets (apparently, all the rage among kids back then).

This may be Rice's most-loved novel, and no wonder. I didn't want it to end. The children are endearing without overdoing it--it can be difficult to write about children because it's so easy to make them little adults or to go to the opposite extreme and make them overly cute. But here the balance is perfect. These really seem like real kids. It's too bad Rice didn't write about children more often.

The mystery itself is rather slight, but you won't mind. Rice tended to make up her plots as she went along, and sometimes you can tell.

Product Description

Mystery

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Home Sweet Homicide
Craig Rice
Manufacturer: POCKET BOOKS @
ProductGroup: Book
Binding: Paperback
ASIN: B000UCSUZU

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Home Sweet Homicide
Craig Rice
Manufacturer: Pocket Books
ProductGroup: Book
Binding: Paperback
ASIN: B000OBMELS

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Home Sweet Homicide
Craig Rice
Manufacturer: The World Publishing Company
ProductGroup: Book
Binding: Hardcover
ASIN: B000WJS6FK

Home sweet homicide,: A play in three acts

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Home sweet homicide,: A play in three acts
Anne Coulter Martens
Manufacturer: Dramatic pub. co
ProductGroup: Book
Binding: Unknown Binding

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