CONVERTABLE SECURITIES 2E: The Latest Instruments, Portfolio Strategies, and Valuation Analysis (Irwin Library of Investment & Finance) - Hardcover

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9781557389213: CONVERTABLE SECURITIES 2E: The Latest Instruments, Portfolio Strategies, and Valuation Analysis (Irwin Library of Investment & Finance)

Inhaltsangabe

Convertible securities, combining aspects of both stocks and bonds, truly create a "best of both worlds" investment. This instructive book uses everyday terms and illustrations to explain types of convertibles, reveal high-return investment strategies, and decode pricing, hedging, and risk/return considerations.

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McGraw-Hill authors represent the leading experts in their fields and are dedicated to improving the lives, careers, and interests of readers worldwide

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Strategies for earning equity-like returns--with substantially lowerrisk! Convertible securities--generally, corporate bonds which can beconverted into a fixed number of common stock shares--have been aroundfor over a century. While they have generated decent returns forsavvy, risk-averse investors, and are an ideal security in today'svolatile markets, convertibles have received remarkably littlecoverage in the popular press. Convertible Securities opens thewindow, providing in-depth research and analysis to help both new andexperienced investors benefit from the many advantages ofconvertibles. Eye-opening from front to back, it traces: the basics ofconvertible evaluation, including its investment value as a straightbond, its convertible value as a stock, and its theoretical fairvalue; proven methods for uncovering convertibles trading below fairvalue by identifying key variables such as conversion premium andyield advantage; how to use popular convertible bond indexes to trackperformance, benefiting from their advantages, while remaining awareof their shortcomings. The basic concepts of a convertible securityare fairly straightforward, yet nuances make it one of the mostinvolved and potentially profitable investments available. LetConvertible Securities act as your guidebook to this excitinginvestment class, providing you proven strategies to participate inthe capital appreciation of common stocks, while providing aconsistent buffer against risk.

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