All About Bonds Bond Mutual Funds and Bond ETFs PDF (3rd edition) will guide you though the process of choosing the best bonds for your needs, evaluating their performance, and managing a bond portfolio.
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Category: Bond
Author: Esmé Faerber
Language: English
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Introduction
Access the unprecedented potential of bond investing!
Bonds have come a long way in recent years. No longer just a relatively safe and secure investment, bonds now offer the potential for capital appreciation in addition to interest income. All About Bonds, Bond Mutual Funds, and Bond ETFsis the key to understanding both traditional and new types of bond investments.
This detailed but accessible introduction covers everything from basic bond characteristics to fixed-income investment techniques. You’ll gain a thorough education on such topics as yield, liquidity, duration, convexity, valuation, and emerging markets and find the answers to many questions a bond investor will ask, such as:
- What percentage of my portfolio should be dedicated to bonds?
- What are the newest products and where do I find them?
- What are the risks involved with investing in bonds, bond mutual funds and bond ETFs?
- How can I use the Internet to my advantage?
Whether you’re involved in the bond market already or about to enter it,All About Bonds, Bond Mutual Funds, and Bond ETFswill guide you though the process of choosing the best bonds for your needs, evaluating their performance, and managing a bond portfolio.
Preface
This third edition includes information to assist bond investors to become more knowledgeable about their investments. Among the many changes to this edition are new chapters on foreign and emerging market debt, how to use duration and convexity concepts, and the inclusion of investing in bond exchange traded funds. Each chapter includes many new sections to provide both beginning and sophisticated bond investors with the tools to make more informed bond investments. Bond exchange traded funds are compared with bond mutual funds and investing in individual bonds.
The early chapters present information on the characteristics of bonds with the purpose of providing readers with an understanding of the workings of a bond, and their performance with regard to risk and return. The following chapters present the different types of bonds (Treasuries, government agency bonds, GNMA, FNMA, collateralized mortgage obligations, municipal bonds, corporate bonds, convertible bonds, zero coupon bonds, and foreign bonds) along with a comparison of the corresponding mutual funds and bond exchange traded funds. These chapters provide readers with the information to make their choices as to whether to invest in individual bonds, or bond mutual funds, or bond exchange traded funds. The last chapter provides the information to manage a bond portfolio.
As a more informed investor, it is easier for you to make better decisions regarding your bond investments.
Table of Contents- All About Bonds Bond Mutual Funds and Bond ETFs PDF
Preface ix
Acknowledgments ix
Chapter 1- What Bonds Can Do for You and Why You Should Consider Investing in Them 1
Chapter 2- Characteristics of Bonds 17
Chapter 3- Risks of Bonds 31
Chapter 4- Yield and Price 41
Chapter 5- Duration and Convexity 55
Chapter 6- The Economy and the Bond Markets 67
Chapter 7- Money Market Securities 91
Chapter 8- Treasury Securities 113
Chapter 9- Government Agency and Pass-Through Securities 139
Chapter 10- Corporate Bonds 167
Chapter 11- Municipal Bonds 199
Chapter 12- Convertible Bonds 227
Chapter 13- Zero Coupon Bonds and Zero Coupon Mutual Funds 255
Chapter 14- International and Emerging Market Debt 273
Chapter 15- Closed-End Funds 289
Chapter 16- Portfolio Management and Evaluation 303
Index 323
Reviews
“This book covers all the basic information you need to understand almost all types of bonds. The book also gives reader charts that show the advantages and disadvantages of investing in different types of bonds directly and by using mutual funds and exchange traded funds (ETFs). The book walks you through the different characteristics of bonds, the risk different classes of bonds contain, how to figure the yield of a bond by their interest payout and price. The book examines treasury bonds, corporate bonds, municipal bonds, convertible bonds, zero coupon bonds, international and emerging market bonds. The book explains both the level of risk in each type and what influences the specific bonds value.
Contrary to popular belief bonds are not risk free investments, they have inflation risk, interest rate risk, and credit risk. Although historically they are less volatile than stocks, interest rate hikes and credit downgrades from the issuer can cause bonds to lose the value of the original invested capital. By understanding the characteristics of each class of bonds you can control the risk to your invested capital to some degree.
While this book is a very dry read, it does contain all the basic information to introduce readers to how bonds work and how best to invest in them.
“The saying on Wall Street that investors buy stocks to obtain wealth, and buy bonds to keep their wealth aptly summarizes why bonds are an important part of an investors’ portfolio.”- Steve Burns
About the author
Esmé Faerberis a professor of business and accounting at Rosemont College. She is the author of All About StocksandAll About Investing.
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