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The Handbook of Fixed Income Securities, 6th Edition

The Handbook of Fixed Income Securities, 6th Edition

List Price: $99.95
Your Price: $99.95
Product Info Reviews

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Rating: 5 stars
Summary: LOW PRICED STOCKS MAY EARN MORE A LOT MORE THAN FIXED INCOME
Review: (...) It gives a lot of general info on a lot of different Fixed income topics. It's a good ref. for people just getting involved with fixed income. However if you are looking for focused material, you should look into one of Frank's books on that area. Good overall intuition on Fixed income markets and products.

Rating: 4 stars
Summary: HAND BOOK
Review: (...) It gives a lot of general info on a lot of different Fixed income topics. It's a good ref. for people just getting involved with fixed income. However if you are looking for focused material, you should look into one of Frank's books on that area. Good overall intuition on Fixed income markets and products.

Rating: 5 stars
Summary: This book is an excellent review to the professional.
Review: As a fixed income analyst for a major corporation, I have used this book to review material that I have not used for some time. This book should become a "bible" to all those who are in the financial markets and without a doubt should be a leading source of information to all those pursuing higher education within finance.

Rating: 5 stars
Summary: THE BOOK IS THE BENCHMARK & THE KORAN TO FIXED INCOME TRADER
Review: I HAVE THE 3RD EDITION OF THIS BOOK . I CONSIDER IT MY REFRENCE . IT IS COMPERHENSIVE AND EXCEPTIONALLY WELL WRITTEN TO FIT ALL TRADERS LEVELS FROM THE BEGGINERS TO THE PROFESSIONALS.

Rating: 2 stars
Summary: Follow up on Amit Gupta's review
Review: I totally agree with Amit's review. For a practitioner's perspective Bruce Tuckman's "Fixed Income Securities: Tools for Today's Markets" is a much better choice than Fabozzi.

Rating: 3 stars
Summary: Very broad in horizon, but lacks the depth
Review: I used this book as a text for a graduate level "Fixed Income Analysis" course. This book covers almost all the fixed income financial instruments from plain vanilla bonds to interest rate derivatives. However, reading this book leaves the reader with a desire for more than just the peripheral knowledge, which is all this book offers.

Theoretically, this book justfies its being called a handbook, but on the mathematical front, it stands absolutely nowhere. There are little or no examples used in the text even though the author touches base on the advanced topics sometimes. Any fixed income practioner, including me, will tell you that ONE JUST CANNOT LEARN FIXED INCOME CONCEPTS WITHOUT GRASPING THE MATH BEHIND THEM, and this book scores poorly in the quantitative analysis. Fixed income securities are extremely sensitive to interest rate fluctuations, and hence, it would be only sensible to present atleast a few chapters trying to explore the concepts used in the modeling of interest rates. But this book doesn't do that. There is little quantitative discussion about duration and convexity, two of the most important risk-measurement tools for bonds.

Since it is called a handbook, I don't see any reason why the author should hold back advanced concepts from the readers. Conversely, since this book doesn't attempt to teach all the concepts to its readers, it should not be called a handbook. This problem is actually common to all the Fabozzi books. Either his math is weak, or he is just busy making money writing a handbook on every possible fixed income security. It's only a shame that a capable and learned individual like him should do such a sloppy job.

I would recommend books by Bruce Tuckman, Garbade, or Horne for more advanced and intelligent discussions on fixed income securities and interest rates rather than this book. One really need not waste money on this book. Theory on Fixed Income instruments is widely available from Federal Reserve publications, which are almost always free. Put your money only where it will produce fixed & positive returns - Fixed Income 101.

Rating: 4 stars
Summary: Comprehensive Fixed Income Info
Review: If you are in the financial world dealing with fixed income directly or indirectly, just entering into the fixed income world, or looking for a great FI reference, go no further. This is it. Very broad with heavy MBS influence as well as the basics of fixed income. This is for novice to intermediate FI users. Academics and advanced portfolio managers might find this general. But, for the large population this is the spot.

Rating: 4 stars
Summary: Comprehensive, but Dry
Review: If you want to learn about fixed income securities, then this is your book. It is very comprehensive and contains a wealth of information.

The only downside to this book is that, unless you really, really interested in fixed income, it will put you too sleep. There were several times where I had to re-read paragraphs/pages, because I went into a daydream.

Despite this drawback, it is an excellent resource and I will not give it my copy of it.

Rating: 5 stars
Summary: LOW PRICED STOCKS MAY EARN MORE A LOT MORE THAN FIXED INCOME
Review: Many low-priced stocks have out performed fixed securities. Two books that have proven this out are: (1)Guaranteed Profits With Small Stocks: The Only Stock Investment System That Comes With A $5,000 Guarantee by R. Max Bowser, and (2) Making Dollars With Pennies: How The Small Investor Can Beat The Wizards On Wall Street by R. Max Bowser. Both books are available used and new on Amazon.com.

Rating: 3 stars
Summary: The problem with any book claiming to be a "Handbook"...
Review: The Handbook attempts to be all things to all people, and thus tries to cover many too many topics with uneven results. The Handbook provides good institutional knowledge about fixed income markets and the basics of pricing and portfolio management (including some international portfolio management issues). This is sufficient to learn basic fixed income intuition, which may be enough for people not heavily involved in fixed income markets (i.e. MBA students, consultants, CFA candidates, etc.). The greatest fault (to me) is the book does not address the biggest assumption of basic fixed income pricing theory (i.e. interest rates are assumed to be constant or at least know functions of time). This is obviously unrealistic. The Handbook does not help practitioners interested in advanced pricing theory and requires consultation with more advanced texts.

However, I must admit the Handbook does look impressive sitting on your desk. In a pinch, it also makes for a good, albeit expensive, paperweight or doorstop. :-)


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