Fixed Income Securities: Tools for Today's Markets, 3rd Edition, University Edition: Tools for Today's Markets, University Edition: 626 (Wiley Finance) - Tapa blanda

Tuckman

 
9780470904039: Fixed Income Securities: Tools for Today's Markets, 3rd Edition, University Edition: Tools for Today's Markets, University Edition: 626 (Wiley Finance)

Sinopsis

Fixed income practitioners need to understand the conceptual frameworks of their field; to master its quantitative tool-kit; and to be well-versed in its cash-flow and pricing conventions. Fixed Income Securities, Third Edition by Bruce Tuckman and Angel Serrat is designed to balance these three objectives. The book presents theory without unnecessary abstraction; quantitative techniques with a minimum of mathematics; and conventions at a useful level of detail.

The book begins with an overview of global fixed income markets and continues with the fundamentals, namely, arbitrage pricing, interest rates, risk metrics, and term structure models to price contingent claims. Subsequent chapters cover individual markets and securities: repo, rate and bond forwards and futures, interest rate and basis swaps, credit markets, fixed income options, and mortgage-backed-securities.

Fixed Income Securities, Third Edition is full of examples, applications, and case studies. Practically every quantitative concept is illustrated through real market data. This practice-oriented approach makes the book particularly useful for the working professional.

This third edition is a considerable revision and expansion of the second. Most examples have been updated. The chapters on fixed income options and mortgage-backed securities have been considerably expanded to include a broader range of securities and valuation methodologies. Also, three new chapters have been added: the global overview of fixed income markets; a chapter on corporate bonds and credit default swaps; and a chapter on discounting with bases, which is the foundation for the relatively recent practice of discounting swap cash flows with curves based on money market rates.

This university edition includes problems which students can use to test and enhance their understanding of the text.

"Sinopsis" puede pertenecer a otra edición de este libro.

Acerca del autor

Bruce Tuckman holds a PhD in economics from MIT and began his career as a professor of finance at New York University's Stern School of Business. Moving to the industry, he became a managing director at Salomon Brothers' Fixed Income Proprietary Trading Group; ran research groups at Credit Suisse and Lehman Brothers; and, for the Prime Services Division at Barclays Capital, was global head of research and an executive committee member. He is now the Director of Financial Markets Research at the Center for Financial Stability, a think tank in New York.

Angel Serrat holds a PhD in finance from MIT. Prior to joining the industry, he was a member of the finance faculty at The University of Chicago's Graduate School of Business. He has published in journals including The Review of Economic Studies, The Review of Financial Studies, and Econometrica. He was an executive director of strategy groups at Goldman Sachs and Credit Suisse, and later became a managing director at JPMorgan's global proprietary positioning business as a portfolio manager and head of strategy. He is currently a partner at Capula Investment Management, a fixed income asset management firm.

De la contraportada

Praise For Fixed Income Securities

"Fixed Income Securities is excellent, seamlesslycombining theory and experience to make the global fixed-incomemarkets come alive for students and practitioners. It is obviousthat the authors not only understand and articulate theory withease, but also enjoy its application to myriad simple andcomplicated instruments."
Myron Scholes, 1997 Nobel Laureate in Economics;Frank E. Buck, Professor of Finance, Emeritus, GraduateSchool of Business, Stanford University

"It takes authors who have both insight into financial economicsand a thorough understanding of how markets function to write abook that integrates theory and practice so effortlessly. As marketturmoil forces us to revisit historical relationships, the book'ssetting of applications and data in the context of sound theory isparticularly useful."
Ravi Mattu, Managing Director and Head of Analytics,PIMCO

"Fixed Income Securities conveys intuition, is full ofexamples, and is comprehensive in its coverage. Professionals willfind valuable insights in the authors' treatment of advancedtopics; students will value the careful organization andpresentation of ideas. I recommend it very highly indeed.
Krishna Ramaswamy, Edward Hopkinson, Jr., Professorof Investment Banking, The Wharton School, University ofPennsylvania

"This is a great reference book for fixed income students andpractitioners alike, which seamlessly combines mathematicalconcepts with practical applications."
Kostas Pantazopoulos, Global Head of Interest RateProducts, Goldman Sachs

De la solapa interior

Praise For Fixed Income Securities

Fixed Income Securities is excellent, seamlessly combining theory and experience to make the global fixed-income markets come alive for students and practitioners. It is obvious that the authors not only understand and articulate theory with ease, but also enjoy its application to myriad simple and complicated instruments.
--Myron Scholes, 1997 Nobel Laureate in Economics; Frank E. Buck, Professor of Finance, Emeritus, Graduate School of Business, Stanford University

It takes authors who have both insight into financial economics and a thorough understanding of how markets function to write a book that integrates theory and practice so effortlessly. As market turmoil forces us to revisit historical relationships, the book's setting of applications and data in the context of sound theory is particularly useful.
--Ravi Mattu, Managing Director and Head of Analytics, PIMCO

Fixed Income Securities conveys intuition, is full of examples, and is comprehensive in its coverage. Professionals will find valuable insights in the authors' treatment of advanced topics; students will value the careful organization and presentation of ideas. I recommend it very highly indeed.
--Krishna Ramaswamy, Edward Hopkinson, Jr., Professor of Investment Banking, The Wharton School, University of Pennsylvania

This is a great reference book for fixed income students and practitioners alike, which seamlessly combines mathematical concepts with practical applications.
--Kostas Pantazopoulos, Global Head of Interest Rate Products, Goldman Sachs

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