- Hardcover: 320 pages
- Publisher: John Wiley & Sons (28 Sep 1992)
- Language English
- ISBN-10: 0471551627
- ISBN-13: 978-0471551621
- Product Dimensions: 23.5 x 16.5 x 2.7 cm
- Average Customer Review: 5.0 out of 5 stars See all reviews (1 customer review)
- Amazon Bestsellers Rank: 1,866,683 in Books (See Top 100 in Books)
- See Complete Table of Contents
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Product Description
Product Description
The comprehensive guide to creating, valuing, and trading today′s most innovative fixed–income securities . Financial markets worldwide are being flooded with a wealth of innovative and increasingly complex securities. Now, more than ever, fixed–income professionals must understand how these synthetic instruments are structured and traded, and how to profitably integrate them into an overall financial strategy. Fixed–Income Synthetic Assets supplies this crucial working knowledge. This results–driven primer delivers the proven tools and techniques for packaging, pricing, and trading these innovative products. From A–tranche CMOs to Zero coupon bonds, this unique sourcebook guides both the novice and the professional through the full range of innovative synthetic structures and their manifold uses. It′s packed with easy–to–use formulas and charts, as well as clear, step–by–step discussions of financial theory that promote clear understanding of the most complex fixed–income financial engineering strategies and practices. This timely sourcebook is designed to help traders, arbitrageurs, speculators, and financial executives profit from the financial markets of today, and successfully prepare for the opportunities of tomorrow. "Perry H. Beaumont offers a logical, well organized book filled with examples. His step–by–step explanations make it easy to decipher some of today′s most sophisticated financial instruments." ––Ira G. Kawaller Vice President, Director of New York Office, Chicago Mercantile Exchange "Fixed–Income Synthetic Assets is a practical guide to state–of–the–art financial practice. An excellent tool for the financial manager trading in the markets and applying the latest financial techniques." ––David Robison Vice President & Treasurer Chrysler Financial Corporation
From the Inside Flap
Fixed–income synthetic assets are fast becoming the investment vehicles of choice for an increasing number of astute financial professionals. Traders, arbitrageurs, speculators, as well as financial executives are increasingly involved with these new and dynamic products. Fixed–Income Synthetic Assets is the only professional guide to focus exclusively on packaging, pricing, and trading strategies for these complex securities. This authoritative sourcebook covers all fixed–income instruments including derivatives, floating rate notes, STRIPs, mortgage–backed securities, U.S. Treasuries, and much more. It delivers market–proven guidance for applying fixed–income strategies to key areas of finance such as risk management, option pricing and packaging, swaps and swaptions, and fundamental risk/return analysis. Fixed–Income Synthetic Assets begins with a concise overview of the fundamental building blocks used to create synthetic assets. Sophisticated valuation techniques are explored for calculating present value, forward and spot rates, and duration and convexity. A variety of synthetic structures are then considered among money market assets. Securities discussed include certificates of deposit, agency and municipal securities, mortgage–backed securities, Treasury Bill futures, Eurodollar futures, international money markets, and floating rate notes. From here, the guide moves further along the yield curve. Synthetic strategies are provided for a variety of notes and bonds, and modern portfolio theory is applied to the creation of synthetic fixed–income portfolios. The book concludes with a detailed review of the more innovative structures in the marketplace, including promising new commodity– and equity–linked products. Throughout, Fixed–Income Synthetic Assets supplies a precise and lucid examination of financial engineering practices and strategies, supplemented by accurate, easy–to–follow formulas. Numerous charts and graphs add visual punch to important topics. This essential desktop reference shows issuers and investors how to:
- Package, price, and trade synthetic securities that are more desirable than the assets being replicated
- Identify investment opportunities among complex, competing financial products
- Create securities with cashflows and market sensitivities superior to alternative assets
- Integrate synthetic securities within any fixed–income strategy
Inside This Book
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First Sentence
Among cash fixed-income securities, an asset's present value is its price. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
Among cash fixed-income securities, an asset's present value is its price. Read the first page
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Concordance
Browse Sample PagesConcordance
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews
Most Helpful Customer Reviews
Format:Hardcover
The author delivers clear and concise explanations on the more esoteric aspects of fixed-income securities. It is written using an easy to understand, building-block approach which enables the reader to grasp the theory behind creating synthetic securites. This book goes beyond textbook definitions and introduces essential strategies which can be used by trading managers, risk managers, and individual investors.
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:
3 reviews
7 of 7 people found the following review helpful
Essential guide for fixed-income professionals.
7 July 1998
Format:Hardcover
The author delivers clear and concise explanations on the more esoteric aspects of fixed-income securities. It is written using an easy to understand, building-block approach which enables the reader to grasp the theory behind creating synthetic securites. This book goes beyond textbook definitions and introduces essential strategies which can be used by trading managers, risk managers, and individual investors.
Nuts and bolts
6 May 2004
Format:Hardcover
This text was especially helpful for me as someone who knew pretty much next to nothing about the field but who also wanted not to be spoon fed. The author strikes an excellent balance for beginners and the more advanced.
A must for bond pros
22 Oct 2002
Format:Hardcover
The book is concisely written and loaded with practical examples. A must for the reference shelf of bond professionals.
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