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on 5 July 2006
Beeing a professional myself I can wholeheartedly recommend this well written book. Virtually all you need to know in today's bond and money market is explained in simple English and not only are the formulae displayed but also calculated examples are shown.

This book is written by someone who preaches from experience and not just someone from a well known university.

A book than can be used immediately by someone who is new to the market or for spmeone that need to brush up on a particular subject.

Comes highly recommended and worth the price. A+++
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on 16 July 2001
After spending a lifetime reading dry prose in capital markets texts, this is like a fresh breeze from an author with knowledge and experience. Swaps - I finally get them.
The conversational style and ample examples and illustrations make the understanding of some complex issues very easy. I suggest that every market pro will find something of use and most will end up with a well thumbed copy. Even novices will find this extremely useful.
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on 11 March 2004
This is the benchmark book on bonds against which all other should be compared. It covers everything one would need and is written in a nice reader-friendly style. Starts at introductory level but then goes on to very advanced treatment. Recomended for students and practitioners alike. Buy it!
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on 30 May 2001
This is an impressive work, visually at any rate, and at over 1000 pages commands respect on any finance professional's or student's bookshelf. There is coverage on just about every facet of the debt market, although the downside of this is that some institutional detail is sacrificed. For example the treatment of Emerging Markets is quite cursory (although balanced by a good account of Brady Bonds), although generic topics such as modified duration and convexity are covered in great detail. The author clearly enjoys writing and the book is peppered with personal references and anecdotes. Areas where the author has actual trading experience, such as UK gilts, are covered in great detail, as is bond trading strategy in chapter 50. This chapter also has the best explanation of the mathematics of spot and forward rates that I have seen. For me, the most useful part of the book was the treatment of interest rate models, made accessible by a good introduction aimed at non-mathematicians, and the use of diagrams and example illustrations. The chapters on swaps was also well presented, and (again, reflecting his own trading experience) the chapters on repo and money markets very comprehensive. This is perhaps the book's biggest asset, the coverage of all these areas in one volume. Mr Choudhry is also a bit of a fan, and enthusisatically recommends a number of his favourite writers in financial economics. All in all, a bit pricey but well worth purchasing, if only to majestically grace the bookshelf.
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on 14 August 2001
Impressive, very easy to read, everything you need to know about bonds, markets and valuation. Also great on side issues like risk and financial maths. This has to be required reading for market staff. Amazing effort, I'd like to ask the author how long it took him to write it! Fantastic, worth every penny. Matthew Bartlett, London
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on 26 April 2011
This books fills a very important void in fixed income books. Many books such as Fabozzi,Hull etc are great from a theoretical perspective, but what book do you pick up when you want to know the practicalities around trading fixed income products? This one!

I've only just come across this book in 2011 and I must say that I'm so glad I did. It is a great reference book - one to be kept on your desk at work and be referred to. If you are like me, work on the Buyside in Fixed income and have a few years of experience post Uni - you can often find yourself wondering how/why some of the subtle practicalities of fixed income markets work. I find this book tends to have many of those answers.

I would thoroughly recommend this book to any practioner along side, this I'd also suggest purchasing "Fixed Income Strategy" by Tamara Mast Henderson
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on 23 August 2001
The coverage of this book is wide from the plain vanilla to the more exotic asset backed security.
It's depth and precision become quickly apparent from opening the book at any page.
Moorad's style and direction has succeeded in cutting through the complexities like a well angled blade.
My cheque is already signed should he ever complete a book on the equity markets.
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on 5 September 2002
I have used the book in studying for the FRM (GARP) Exam (succesfuly) and I am currently using it for the CFA(LI). Choudhry has done an EXCELLENT job in presenting advanced topics in an accessible manner without compromising technical issues.
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on 17 October 2012
This is an excellent reference for practioners by a practioner. However, if you are looking for quantitative rigour, you will be disappointed.
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on 29 June 2001
This is something we've all been waiting for -normally you would have to buy several different books to cover the important areas - but this book really is a one-stop-shop. I find it very useful as a teacher and a reference guide, and because of its excellent holistic approach, it took me from basics to some very sophisticated analysis in a relatively easy manner. Recommended.
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