Strategic fixed income investing: an insider's perspective on bond markets, analysis, and portfolio management
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Hoboken, N.J.
Wiley
2013
|
| Series: | Wiley finance series
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis Klappentext |
| Item Description: | Includes index. |
| Physical Description: | xiii, 189 p. ill. 24 cm |
| ISBN: | 9781118422939 |
Staff View
MARC
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| 245 | 1 | 0 | |a Strategic fixed income investing |b an insider's perspective on bond markets, analysis, and portfolio management |c Sean P. Simko |
| 264 | 1 | |a Hoboken, N.J. |b Wiley |c 2013 | |
| 300 | |a xiii, 189 p. |b ill. |c 24 cm | ||
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| 500 | |a Includes index. | ||
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| 650 | 4 | |a Bonds | |
| 650 | 4 | |a Portfolio management | |
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Record in the Search Index
| _version_ | 1804152680058191872 |
|---|---|
| adam_text | Contents
Preface
xl
Acknowledgments
PART ONE
The Investing
Environment 1
CHAPTER
1
Expect the Unexpected
3
The Model Has Changed
4
Lessons Learned
4
From Bad to Worse
5
снАРтаг
Navigating ttrough Troubled Water
7
Debt Ceiling
8
Triple A: Lost, but Not Forgotten
8
Possible, but Not Probable, Consequences
9
Warning Signs
12
CHAPTERS
Lessons Learned
15
Patterns Emerge
iVloney Markets
Treasury Bills, the Favored Asset Class
20
Municipals Felt the Pain as Well
25
Auction-Rate Markets Were Hit Hard
27
CHAPTBU
Direction
m
a Sometimes Dlrecttonlese Market
29
Finding Direction
30
vH
CONTENTS
PART TWO
Tne
Fixed
tacóme
Investor
CHAPTER
5
Define the End Investor
87
Risk
40
Risk-Averse Investor
42
A Problematic Trade?
43
Risk-Taking Investor
44
Define Your Strategy
45
Active Strategy
47
CHAPTER
β
Portfolo Construction
49
Factor
1:
Defining Your Risk
50
Factor
2:
Aligning Goals
51
Conservative Strategy
54
Moderate Strategy ^^
More Aggressive Strategy ^^
Factor
3:
Portfolio Analysis
59
Reduction of Credit Risk
62
Government Securities
64
Risks to Consider ^^
Bottom Line
69
СНАРТШ7
Asset
Allocation
71
The Road Map
72
Going Global
76
CHAPTER
8
The Federal Reserve and Central Banks
81
Hawks and Doves
82
The Fed Funds Rate
82
A Short-Term Fixed Income Investor
83
Hooked on Accommodation
83
Deposits with Central Banks
84
What about the United States?
86
FOMC: Look for Clues from the Fed Statement
88
What to Look For from the Fed.
..
Clues?
88
FOMC Statement: August
2011 89
Contents
ЇХ
QE
or Not QE
92
Calming Statements for Investors
93
CHAPTERS
The Economy and the Markets
95
The Payroll Picture; The Backbone to the Economy
97
Bureau of Labor Statistics Website
97
Inflation: A Fixed Income Investor s Enemy
103
Consumption: America s Fuel
109
The Federal Chairman: The Wizard Himself
110
CHAPTHMO
The Yield Curve
111
The Spread
115
The Money Market Arena
116
The Direction of Rates
118
A Steep Yield Curve
119
A Flat Yield Curve
120
An Inverted Yield Curve
121
Listen to the Curve
123
CHAPTER
11
The Ladder and Why You Need One
125
How It Works
126
The Concept
126
The Goal
129
The Long End Poses Challenges
131
The Front End Is Technical
133
Varieties of Short-Term Strategies
133
The Sweet Spot
134
Liquidity
134
Consistent Coupons
Why Is Supply Important?
138
Performance and How to Measure It
140
Low-Turnover Dilemma
141
Success
oí
a Strategy
142
CHAPTER
12
Alternatives to a TrooTttonal Ladder Strategy
145
TIPS: The Other Treasury
147
χ
___________________________________________________________________CONTENTS
Break-Even Opportunity
148
Consider MBS Pools of Mortgages
150
Consider Corporate Bonds
151
Floating-Rate Notes
153
What Is
LIBOR?
154
A Deeper Look at
LIBOR
154
The Bottoming Process
156
СНАРТБИЗ
Crem
Analysis
158
The Agency
159
Credit Analysis: Necessary, Not Optional
160
Credit for a Passive Strategy
161
After the Initial Approval
163
Not All Bonds Are Equal
164
Stay Ahead of the Herd
166
СНАРТБП4
The Four PHars of Trade Execution
169
The First Pillar: Executed Price
171
The Second Pillar: Dealer Inquiries
173
The Third Pillar: Liquidity
174
The Fourth Pillar: Ease of Transaction
174
СНАРТВИб
There Are No Roadblocks, Just Detours
177
Know What You Own
177
Banking Sector
178
Go with Your Gut!
179
Don t Take It Personally
181
Trapped in Purgatory
182
Index
185
Fixed income investing is often unduly subject
to the whims of inflationary economic forces,
and, at best, serves a minor risk-management
function. At least, that s the perception of most
investors. But, according to consummate industry
insider Sean
Simko,
nothing could be further from
the truth. A well-constructed fixed income portfolio,
says
Simko,
offers the promise of reliably consistent
returns, even in the most turbulent and unpredictable
market environments. Which is why knowing how to
build and strategically manage one is a skill every
investment manager and financial advisor surely
needs to master.
In Strategic Fixed Income Investing,
Simko
draws upon
his many years of experience as a successful global
fixed income portfolio manager, with over
7
billion in
assets under management, to share valuable lessons
he has learned about creating a fixed income portfolio
built to help weather any storm. He offers priceless
insights into and methods for accurately sounding
prevailing economic conditions, with an eye to identifying
and investing in the most appropriate asset classes for
every economic climate, whether its sovereign bonds,
munis,
Т
-bills, money markets or ABSs.
The first part of Strategic Fixed Income Investing
explores recent changes in the fixed income markets,
as well as recent and emerging economic and
political trends and their implications for fixed income
investors. With a laser focus and taking expect the
unexpected as his motto, Sean
Simko
pursues a
wide-ranging discussion covering everything from
early warning signs of the
2008
financial collapse
to the ongoing debt ceiling debates in Congress,
the Federal Reserve, and the vagaries of monetary
policy to loss of confidence in the AAA rating and the
demise of Lehman Brothers.
In Part Two,
Simko
delineates a number of highly
successful methodologies for navigating the ever-
evolving fixed income markets. With the help of
(continued on utick
tlap)
(continued from front flap)
numerous
casestudies
and real-world examples, he
describes an array of tested-in-the-trenches portfolio
construction and asset allocation strategies, as well
as powerful analytic techniques. Foremost among
the strategies he prescribes is the ladder strategy,
which can help mitigate interest rate risk. Put in the
simplest of terms, laddering entails evenly investing
in bonds in different maturities, over a set time
frame. As
Simko
vividly illustrates with examples
drawn from his personal investing experience and
from recent history, a well-orchestrated ladder
strategy can help insulate a portfolio from the
most adverse market conditions, while providing a
consistent annual income stream, regardless of the
interest rate environment or market cycle.
Offering an unparalleled opportunity to learn from
a noted expert in the field, Strategic Fixed Income
Investing is your best hedge against the flux and
uncertainty of today s financial markets and the
mounting instability of the global economy.
SEAN P.
SIMKO
is the Head of Fixed Income
---------------------
Portfolio Management at
SEI,
I and a sought-after expert on
fixed income investing and the
financial markets. He leads a
team of investment professionals
responsible for research,
analysis, implementation, and
ongoing portfolio management
of over
$7
billion of fixed income strategies. Prior to
joining
SEI,
Mr.
Simko
was vice president and portfolio
manager for Weiss Peck
&
Greer Investments and
was responsible for managing approximately
$6
billion in assets through various strategies including
short duration, tips, structured products, futures, and
currencies. Mr.
Simko
has appeared on Bloomberg
TV and radio and frequently on Money Matters, and he
is regularly quoted in the Wall Street Journal
anö
other
mainstream publications. He has written numerous
articles for financial magazines, including most
recently, December s issue of Investment Advisor.
|
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| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.63/2044 |
| dewey-search | 332.63/2044 |
| dewey-sort | 3332.63 42044 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Book |
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| id | DE-604.BV042174180 |
| illustrated | Illustrated |
| indexdate | 2024-07-10T01:14:33Z |
| institution | BVB |
| isbn | 9781118422939 |
| language | English |
| lccn | 2012030213 |
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| physical | xiii, 189 p. ill. 24 cm |
| publishDate | 2013 |
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| publisher | Wiley |
| record_format | marc |
| series2 | Wiley finance series |
| spelling | Simko, Sean P. 1970- Verfasser (DE-588)1031769633 aut Strategic fixed income investing an insider's perspective on bond markets, analysis, and portfolio management Sean P. Simko Hoboken, N.J. Wiley 2013 xiii, 189 p. ill. 24 cm txt rdacontent n rdamedia nc rdacarrier Wiley finance series Includes index. Fixed-income securities Bonds Portfolio management Investments Festverzinsliches Wertpapier (DE-588)4121262-9 gnd rswk-swf Portfolio Selection (DE-588)4046834-3 gnd rswk-swf Festverzinsliches Wertpapier (DE-588)4121262-9 s Portfolio Selection (DE-588)4046834-3 s DE-604 Erscheint auch als Online-Ausgabe, EPUB 978-1-11-847947-6 Erscheint auch als Online-Ausgabe, MOBI 978-1-11-847945-2 Erscheint auch als Online-Ausgabe, PDF 978-1-11-847946-9 Digitalisierung UB Bayreuth - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027613562&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis Digitalisierung UB Bayreuth - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027613562&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Klappentext |
| spellingShingle | Simko, Sean P. 1970- Strategic fixed income investing an insider's perspective on bond markets, analysis, and portfolio management Fixed-income securities Bonds Portfolio management Investments Festverzinsliches Wertpapier (DE-588)4121262-9 gnd Portfolio Selection (DE-588)4046834-3 gnd |
| subject_GND | (DE-588)4121262-9 (DE-588)4046834-3 |
| title | Strategic fixed income investing an insider's perspective on bond markets, analysis, and portfolio management |
| title_auth | Strategic fixed income investing an insider's perspective on bond markets, analysis, and portfolio management |
| title_exact_search | Strategic fixed income investing an insider's perspective on bond markets, analysis, and portfolio management |
| title_full | Strategic fixed income investing an insider's perspective on bond markets, analysis, and portfolio management Sean P. Simko |
| title_fullStr | Strategic fixed income investing an insider's perspective on bond markets, analysis, and portfolio management Sean P. Simko |
| title_full_unstemmed | Strategic fixed income investing an insider's perspective on bond markets, analysis, and portfolio management Sean P. Simko |
| title_short | Strategic fixed income investing |
| title_sort | strategic fixed income investing an insider s perspective on bond markets analysis and portfolio management |
| title_sub | an insider's perspective on bond markets, analysis, and portfolio management |
| topic | Fixed-income securities Bonds Portfolio management Investments Festverzinsliches Wertpapier (DE-588)4121262-9 gnd Portfolio Selection (DE-588)4046834-3 gnd |
| topic_facet | Fixed-income securities Bonds Portfolio management Investments Festverzinsliches Wertpapier Portfolio Selection |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027613562&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027613562&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA |
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