【新版大摩经典】Inside the Yield Book，3e

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收藏 2014-06-25

图书名称：Inside the Yield Book：The  Classic That  Created the  Science of  Bond  Analysis，3e
作者：Sidney Homer, Martin L. Leibowitz, Anthony Bova, Stanley Kogelman
丛书：Bloomberg Financial
出版社：Wiley
出版时间：2013年
语言：English
图书描述：
A completely updated edition of  the  guide to modern bond analysis  First published in 1972,  Inside the Yield Book  revolutionized the fixed-income industry and forever altered the way investors looked at bonds. Over forty years later, it remains a standard primer and reference among market professionals. Generations of practitioners, investors, and students have relied on its lucid explanations, and readers needing to delve more deeply have found its explication of key mathematical relationships to be unmatched in clarity and ease of application. This edition updates the widely respected classic with new material from Martin L. Leibowitz. Along the way, it skillfully explains and makes sense of essential mathematical relationships that are basic to an understanding of bonds, annuities, and loans-in fact, any securities or investments that involve compound interest and the determination of present value for future cash flows. The book also includes a new foreword. Contains information that is more instructive, important, and useful than ever for mastering the crucial concepts of time, value, and return  Combines the clear fixed-income insights found in the original edition with completely new knowledge to help you navigate today's dynamic market  Includes over one hundred pages of new material on the role of bonds within the total portfolio  In an era of calculators and computers, some of the important underlying principles covered here are not always grasped thoroughly by market participants. Investors, traders, and analysts who want to sharpen their ability to recall and apply these fundamentals will find  Inside the Yield Book  the perfect resource.

作者简介：
MARTIN L. LEIBOWITZ  is a managing director with Morgan Stanley Research Department's global strategy team. Prior to Morgan Stanley, he was vice chairman and chief investment officer of TIAA-CREF. He is the author of numerous books, and over 200 articles on various investment analysis topics, ten of which have won the prestigious Graham and Dodd Award. Leibowitz has received three of the CFA Institute's highest awards: the Nicholas Molodovsky Award, the James R. Vertin Award, and the Professional Excellence Award. In 1995, he became the first inductee into the Fixed Income Analysts Society's Hall of Fame.  The late  SIDNEY HOMER  was the founder and general partner in charge of Salomon Brothers' bond market research department. Best known for his pioneering and analytical studies of bond market history and relative values and the economic forces that create bond market trends, he is the author of several books including  A History of Interest Rates, The Bond Buyer's Primer , and  The Price of Money . He was inducted posthumously into the Fixed Income Analysts Society's Hall of Fame in 1997.  ANTHONY BOVA  is an Executive Director with Morgan Stanley Equity Research's Global Strategy team. He won Best Article in the ninth annual Bernstein Fabozzi/Jacobs Levy Awards presented by the  Journal of Portfolio Management  for his coauthoring of "Gathering Implicit Alphas in a Beta World." In 2008, Mr. Bova coauthored  Modern Portfolio Management  (Wiley), which focused on active equity strategies. In 2010, he coauthored  The Endowment Model of Investing  (Wiley) with Martin Leibowitz and Brett Hammond of TIAA-CREF.  STANLEY KOGELMAN  is President of Delft Strategic Advisors, LLC, and a Principal at Advanced Portfolio Management. Prior to founding Delft Strategic Advisors, he served as a managing director at JPMorgan Private Bank and Goldman, Sachs & Co. He is the author and coauthor of more than sixty articles on finance and received two Graham and Dodd Awards and published two books jointly with Martin Leibowitz. In an earlier academic career, he held senior mathematics faculty positions and wrote several pioneering books on mathematics education, including  Mind Over Math  and  The Only Math Book You'll Ever Need.

content：
Preface to the 2013 Edition ix
Acknowledgments xi
PART I: DURATION TARGETING: A NEW LOOK AT BOND PORTFOLIOS (2013 EDITION) 1
Introduction 3
CHAPTER 1 Duration Targeting and the Trendline Model 9
CHAPTER 2 Volatility and Tracking Error 35
CHAPTER 3 Historical Convergence to Yield 51
CHAPTER 4 Barclays Index and Convergence to Yield 63
CHAPTER 5 Laddered Portfolio Convergence to Yield 81
Appendix: Path Return and Volatility 95  References 105
PART II: SOME TOPICS THAT DIDN'T MAKE IT INTO THE 1972 EDITION (2004 EDITION) 107
Contents of the 2004 Edition 109
Foreword by Henry Kaufman 111
Preface to the 2004 Edition: A Historical Perspective 113
Technical Appendix to "Some Topics" 157
PART III: INSIDE THE YIELD BOOK (ORIGINAL EDITION) 171
Preface to the 1972 Edition 173
Contents of the 1972 Edition 175
List of Tables 179
About the Authors 349
Index 353