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Bonds are not forever : the crisis facing fixed income investors /
An up-close look at the fixed income market and what lies ahead Interweaving compelling, and often amusing, anecdotes from author Simon Lack's distinguished thirty-year career as a professional investor with hard economic data, this engaging book skillfully reveals why Bonds Are Not Forever. Al...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Hoboken, New Jersey :
John Wiley & Sons, Inc.,
[2013]
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| Temas: | |
| Acceso en línea: | Texto completo (Requiere registro previo con correo institucional) |
Tabla de Contenidos:
- Bonds Are Not Forever: The Crisis Facing Fixed Income Investors; Copyright; Contents; Preface; Acknowledgments; Chapter 1: From High School to Wall Street-The Bull Market Begins: Inflation Memories; As Bad as It Gets; Trading in Gilts; The Old Class Structure; A Nineteenth-Century Market; Finance Starts to Grow; Is Finance Good?; Investing After the Bubble; Chapter 2: A Brief History of Debt; Interest Rates in Ancient Times; Medieval Credit; The Beginnings of Modern-Day Finance; Borrowing Reaches the Mass Market; Student Debt; Big Borrowers in History; What We Owe Now.
- Chapter 3: Derivatives GrowthWelcome to New York; Early Derivatives Growth; Swaps Take Off; Size Isn't Everything; Derivatives Reach Omaha; Norwegian Wood; Chapter 4: Bond Market Inefficiencies for Retail: A Simple Market Model; Stocks Are Fairer Than Bonds; Why Change Is Slow; Structured Notes; The Internet Threatens the Swaps Oligopoly; Municipal Bonds; Chapter 5: Trading Derivatives: Before Banks Were Exciting; Computers and Swaps; Should Banks Innovate?; Growth in Innovation; Volcker's Problem; Bring Me Clients with a Problem; Derivatives Missteps; Trading by the Book.
- An Options Book Blows UpChapter 6: Politics: Government-Controlled Investing; Why Should We Worry?; Who Says There Is a Problem?; Look to the Future; Looking Ahead; Monetization-A Thought Experiment; Imperial Overstretch; More Debt Means More Banking; Chapter 7: Managing Risk 1990-1998: Risk-Oriented Market Making; Traders and Risk; Why Traders Are Bad at Budgeting; The Growth of Global Trading; Managing Obscure Basic Risks; What's the Social Purpose?; Wall Street Fuels the Debt Growth; Chapter 8: Inflation: A Brief History; Germany's Defining Economic Experience; Inflation Today.
- The Fed's Huge MistakeYou Can't Spend Quality Improvements; What Critics Say; Measuring What They Can, Not What Counts; Chapter 9: Bonds Are Not Forever: Putting It All Together; Wall Street Built It; Make Your Own Bond; High Dividend, Low Beta; Hedged Dividend Capture; Master Limited Partnerships (MLPs); Deep Value Equities; Debt Is Bad; Bonds Are Not Forever; References; Glossary; About the Author; Index.