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Bond Market Investor Herding
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Book Synopsis Bond Market Investor Herding by : Emilios C. Galariotis
Download or read book Bond Market Investor Herding written by Emilios C. Galariotis and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: During the recent financial crisis, numerous EU officials, market participants and the media suggested that irrational herding was a key factor for the financial turmoil and the soaring yield spreads. In this paper we test for evidence of herd behavior in European government bond prices and, overall, we find no evidence of investor herding either before or after the EU crisis. We do find, however, in an original contribution to the bond market literature, strong evidence that during the EU crisis period, macroeconomic information announcements induced bond market investor herding; a finding that confirms the notion of' 'spurious' herding proposed by Bikhchandani and Sharma (2001) for bond markets. Further tests reinforce this finding and also indicate the existence of herding spill-over effects.
Book Synopsis Institutional Herding and Its Price Impact by : Fang Cai
Download or read book Institutional Herding and Its Price Impact written by Fang Cai and published by . This book was released on 2017 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the extent to which institutional investors herd in the U.S. corporate bond market and the price impact of their herding behavior. We find that the level of institutional herding in corporate bonds is substantially higher than what is documented for equities, and that sell herding is much stronger and more persistent than buy herding. The price impact of herding is also highly asymmetric. While buy herding facilitates price discovery, sell herding causes transitory yet large price distortions. Such price destabilizing effect of sell herding is particularly pronounced for speculative-grade, small, and illiquid bonds, and during the financial crisis.
Book Synopsis Institutional Herding in Bond Markets by : Andreas Oehler
Download or read book Institutional Herding in Bond Markets written by Andreas Oehler and published by . This book was released on 2002 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent research has shown that institutional herding is a relevant phenomenon in stock markets. Do institutional investors also follow each other in bond markets? This paper focuses on the German bond market and uses data from 57 German mutual funds that invest mainly in DM-denominated bonds, which represents 71% of the total market volume. Due to the variety and large number of bonds that exist, we do not expect mutual funds to herd with regard to separate bonds. We believe instead that bonds with the same characteristics such as interest rate, maturity, collateral, or issuer are considered to be equivalent by institutional investors. Consequently, we construct quot;bond groupsquot; consisting of similar bonds and analyze herding at a quot;bond groupquot; level. Our results indicate that there is strong evidence of herding, albeit it is weaker than in stock markets. Further analysis suggests that mutual funds do not place an equal weight on different bond characteristics. Nominal interest rates appear to be most important in the bond selection process.Behavioral Finance.
Book Synopsis An Introduction to Bond Markets by : Moorad Choudhry
Download or read book An Introduction to Bond Markets written by Moorad Choudhry and published by John Wiley & Sons. This book was released on 2010-10-12 with total page 486 pages. Available in PDF, EPUB and Kindle. Book excerpt: The bond markets are a vital part of the world economy. The fourth edition of Professor Moorad Choudhry's benchmark reference text An Introduction to Bond Markets brings readers up to date with latest developments and market practice, including the impact of the financial crisis and issues of relevance for investors. This book offers a detailed yet accessible look at bond instruments, and is aimed specifically at newcomers to the market or those unfamiliar with modern fixed income products. The author capitalises on his wealth of experience in the fixed income markets to present this concise yet in-depth coverage of bonds and associated derivatives. Topics covered include: Bond pricing and yield Duration and convexity Eurobonds and convertible bonds Structured finance securities Interest-rate derivatives Credit derivatives Relative value trading Related topics such as the money markets and principles of risk management are also introduced as necessary background for students and practitioners. The book is essential reading for all those who require an introduction to the financial markets.
Book Synopsis The Strategic Bond Investor: Strategies and Tools to Unlock the Power of the Bond Market by : Anthony Crescenzi
Download or read book The Strategic Bond Investor: Strategies and Tools to Unlock the Power of the Bond Market written by Anthony Crescenzi and published by McGraw Hill Professional. This book was released on 2010-03-05 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discover Profit Opportunities in Today’s Bond Market! “Tony Crescenzi knows bonds and his book proves it.” Bill Gross, Managing Director, Pacific Investment Management Company In 2002, Anthony Crescenzi opened the door to an innovative new style of investing with his publication of The Strategic Bond Investor. The book instantly became the go-to guide for investors seeking an aggressive yet risk-conscious path to profit. Now, Crescenzi provides a completely updated edition of his popular bond book to address the realities of the post-credit-crisis economy—and to help you take total advantage of everything bonds have to offer. More relevant now than ever, The Strategic Bond Investor provides a sorely needed alternative to the stock market game—where the rewards for taking risks have been less than desirable. The bond market tends to be relatively safe and accessible, but it can also be vibrant and highly profitable if you approach it the right way. Crescenzi offers a fully rounded education on the subject to help better prepare you to make profitable decisions every time. The Strategic Bond Investor demystifies bonds and the bond market with clear descriptions of: Different bond types, including U.S. Treasuries, corporate bonds, and municipal bonds Bond market risks—and how to mitigate them The powerful role of the Federal Reserve and the art of Fed watching How to read the bond market’s “crystal ball”—the yield curve The five tenets of successful interest-rate forecasting Techniques for forecasting market behavior How to use credit ratings to your advantage The best bond investing strategies This comprehensive, up-to-the-minute guide provides straightforward techniques for cashing in on the unlimited potential of bond investing—whether your interests are long or short term. Now is not the time to play games with your financial future. Learn the secret to investing profitably in the bond market while offsetting portfolio risks with The Strategic Bond Investor.
Book Synopsis Institutional Herding in the Corporate Bond Market by : Fang Cai
Download or read book Institutional Herding in the Corporate Bond Market written by Fang Cai and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Fundamentals of The Bond Market by : Esme E. Faerber
Download or read book Fundamentals of The Bond Market written by Esme E. Faerber and published by McGraw Hill Professional. This book was released on 2001-03-05 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understand the ins and outs of today's surprisingly versatile bond marketplace As stocks continue their roller-coaster ride, nervous investors will be looking at bonds. FUNDAMENTALS OF THE BOND MARKET gives you the tools you need to master this complex market so you can diversify your portfolio, and get reliable income and safety of principal. Author Esme Faerber has packed this guide with examples, quizzes, checklists, and plain-English explanations to enhance your understanding of everything from the basics of buying and selling to bond ratings, government and international securities, call and convertible features, portfolio management, and more. Before you risk money in real-time trading, let this hands-on tool bring you up to speed on: *Three steps that determine the best bond mutual fund for any investor *Corporate, Municipal, Convertible and Zero-Coupon Bonds - which to buy for individual portfolios *Treasury securities - how and why to invest in T-bills, notes, and bonds *Tips of the Trade - techniques to calculate yields, buy and sell different types of bonds, and more
Book Synopsis The Strategic Bond Investor, Third Edition: Strategic Tools to Unlock the Power of the Bond Market by : Anthony Crescenzi
Download or read book The Strategic Bond Investor, Third Edition: Strategic Tools to Unlock the Power of the Bond Market written by Anthony Crescenzi and published by McGraw Hill Professional. This book was released on 2021-01-19 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: The bestselling bond investing classic―updated to help you profit today and position yourself for the post-COVID era and decade ahead Since the 2008 global financial crisis, the investing world has changed radically. Credit is more difficult to access, populations across the world are aging, and economic growth has been tepid. And now, the global pandemic has shaken the global financial system to its core. Investors are facing a future where structural—rather than cyclical—change will have greater impact on financial markets. In this new edition of The Strategic Bond Investor, you’ll find everything you need to generate profits while mitigating risk in the “new normal.” PIMCO Executive Vice President and lead investing strategist Anthony Crescenzi explains how deeply the bond market impacts the global economy, the best ways to invest in bonds, and how to “read” this market to inform your overall strategy. Along the way, Crescenzi provides unique and invaluable insights into the role of the bond market in recent economic crises (both 2008 and 2020), in an era of the rise of socially responsible investing, and at a time when we may well be witnessing a seismic shift in economic and financial power from the United States to China. Crescenzi draws on his vast experience, as well as personal conversations with Alan Greenspan, Ben Bernanke, Janet Yellen, and other influential figures in finance, politics, and academia. He provides a glimpse at PIMCO’s storied investment process, along with numerous types of investment strategies to meet various investing goals. The Strategic Bond Investor has guided investors through the capital markets for nearly two decades. Use this updated edition to achieve investing success in the next decade.
Book Synopsis The Complete Practitioner's Guide to the Bond Market (PB) by : Steven Dym
Download or read book The Complete Practitioner's Guide to the Bond Market (PB) written by Steven Dym and published by McGraw Hill Professional. This book was released on 2010-01-08 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive, practical guidebook to bonds and the bond market Speaking directly to the practitioner, this thorough guide covers everything there is to know about bonds—from basic concepts to more advanced bond topics. The Complete Practitioner’s Guide to the Bond Market addresses the principles of the bond market and offers the tools to apply them in the real world. By tying the concepts of fixed-income products to big-picture aspects of the economy, this book prepares readers to apply specific tools and methods that will help them glean profits from the bond market.
Book Synopsis Herd Behavior in Financial Markets by : Sushil Bikhchandani
Download or read book Herd Behavior in Financial Markets written by Sushil Bikhchandani and published by . This book was released on 2000 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How the Bond Market Works by : Robert Zipf
Download or read book How the Bond Market Works written by Robert Zipf and published by Prentice Hall Press. This book was released on 1997 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the Bond Market Works provides all the insight and guidance you need to benefit from this popular investment vehicle. First published in 1988, this popular guide has gone into 10 sell-out printings.
Book Synopsis Surviving the Bond Bear Market by : Marilyn Cohen
Download or read book Surviving the Bond Bear Market written by Marilyn Cohen and published by John Wiley & Sons. This book was released on 2011-03-25 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for SURVIVING THE BOND BEAR MARKET "A confluence of events are converging to produce a rise in bond yields and a decline in bond prices. Authors Cohen and Malburg call the emerging bear market in bonds . . . 'Bondland's Nuclear Winter.' I call shorting bonds . . . 'The Trade of the Decade.' But whatever it is called, this book articulates the root cause of the developing crisis by taking you through a journey of strong analysis, great anecdotes, and visual stories." Doug Kass, founder and President, Seabreeze Partners Management "Baby Boomers beware the thirty-year bond bull market is finished. Marilyn Cohen describes the bond market's coming nuclear winter and what investors must do to protect themselves. This book comes with an automated workbook to help you manage your bond investments like the pros. Learn to build a bond market bomb shelter and pick the green shoots when it is safe to come out again. Cohen prepares you for the worst, even as she hopes for the best." Jane Bryant Quinn, author of Making the Most of Your Money Now
Book Synopsis How to Make Money with Junk Bonds by : Robert Levine
Download or read book How to Make Money with Junk Bonds written by Robert Levine and published by McGraw Hill Professional. This book was released on 2012-05-18 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unearth a Gold Mine in the $1 TRILLION Junk Bond Market “Few experts in this area have been willing to share their inside knowledge with the outside world. None have done it as well and as simply and clearly as Bob Levine has done in his new book.” —Joel Greenblatt, bestselling author of The Little Book That Beats the Market “A great book by a great investor. . . . [I] recommend this book to everyone who wants to acquire some invaluable horse sense about investing in high yield bonds.” —Martin S. Fridson, author of How to Be a Billionaire “This is the best book ever written on high yield corporate bond investing. Destined to become an instant classic. . . .” —Jack Malvey, Chief Global Markets Strategist, Bank of New York Mellon Corp. "A first-rate introduction and navigation guide to the high-yield world." —Reading the Markets “This well-written and occasionally humorous tutorial on investing in speculative-grade corporate debt covers the essential aspects of high-yield debt. . . . As a basic introduction to the high-yield debt market, the book can’t be beat.” —The Financial Analysts Journal Do you think of the junk bond market as an arena of chaos, a financial Wild West, a place to avoid at all costs? In How to Make Money with Junk Bonds, a pioneer of the junk bond business gives you the insight and information you need to lay that fear to rest—so that you can generate unprecedented profits in this $1 trillion market. Robert Levine has the credentials to lead both individual investors and the professionals just getting started in the junk bond market. At Nomura Corporate Research and Asset Management, his junk bond funds substantially outperformed both high yield and S&P indices for more than 18 years—and in this book he explains the method he used to achieve such remarkable results. Helping you pick high yield bonds that have a low possibility of default. How to Make Money with Junk Bonds covers: The difference between stocks and bonds—and where junk bonds fit between them in the risk spectrum How to conduct a thorough credit analysis—the key to making money in junk bonds How to evaluate market conditions—and decide when to invest and when to sit on the sidelines Why you should hire a portfolio manager—and how to select the best one for your needs How to invest like a pro—using Levine’s personal, proven investing method The junk bond market isn’t the scary place it used to be. Critical information is easier (and cheaper) to obtain, and transparency is greater than it was in the market’s early days. How to Make Money with Junk Bonds gives you the tools to root out strong, forward-looking companies poised for growth and generate a level of profitability impossible to achieve in other markets.
Download or read book The Bond's Revenge written by Alex Doulis and published by . This book was released on 2007-02 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Questions concerning buying and selling in the bond market have simultaneously interested and baffled Canadians. When is the right time to buy a bond? When is the right time to sell? Is there a right time? In The Bond's Revenge, Alex Doulis employs the affable Stewart and Angelo to provide solutions to these very same questions. Travelling to Italy to visit Angelo - an expert in the market who has made a fortune in bonds - Stewart learns about government bonds, offshore bond investing and the difference between equity and debt securities. He also learns how the corporate bond market operates and how, most importantly, he can profit from that market. Effectively structuring The Bond's Revenge around the Socratic method, Doulis brilliantly illustrates what a real investor can hope to earn in the securities markets while also explaining the benefits of the buy and hold strategy used by major investing institutions. If these institutions are turning profits investing in the corporate market then, Doulis explains, the average person can too. Predating the arrival of income trusts, The Bond's Revenge reveals that there is an even more secure source of investment returns than that offered by most stock brokers: the corporate bond market.
Book Synopsis Naked Guide to Bonds by : Michael V. Brandes
Download or read book Naked Guide to Bonds written by Michael V. Brandes and published by Wiley. This book was released on 2003-09-26 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Professional investors have long understood the importance of bonds in a successful portfolio strategy. Now you can too. That's because Wall Street bond expert Michael Brandes takes a unique approach to this complex subject—he makes it simple. In Naked Guide to Bonds: What You Need to Know, Stripped Down to the Bare Essentials, technical jargon and complicated subject matter are translated into a straightforward, easy-to-read style with plenty of examples. What's more, rather than writing an all-inclusive book on the bond market, Brandes uses his expertise to eliminate the information that is not relevant to individual investors. The result is a practical and succinct guide that empowers you to make informed investment decisions. Naked Guide to Bonds is written so that each chapter builds upon the information that precedes it. That way you'll never be thrown for a loop. It begins with basic questions such as: Who issues bonds, and why? And how are bonds bought and sold? Then you'll learn about the structure of these securities and the characteristics that distinguish them from stocks. Once you're armed with the fundamentals, you'll discover how inflation, interest rates, and changes in the economy impact bond prices. Naked Guide to Bonds also provides insights about different types of bonds, including those issued by the U.S. government and its agencies, municipalities, corporations, and international issuers. Most importantly, you'll understand how to identify the bonds that are most appropriate for you. In the final sections, you'll determine how to: Assess your risk profile and set goals Construct a portfolio to meet your objectives Implement a customized strategy Evaluate individual bonds and mutual funds Monitor and maintain your portfolio Avoid the most common mistakes Filled with helpful charts and informative "Bare Essentials" summary points at the beginning of each chapter, Naked Guide to Bonds provides an effective way to become a smart and successful bond investor. Take a look for yourself and you'll see how enjoyable and rewarding learning about bonds can be.
Download or read book E-Bonds written by Jake Wengroff and published by Wiley. This book was released on 2002-11-19 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: A complete online approach to trading bonds Although online bond trading began primarily for institutions, this has changed as individual investors seek a wider range of online financial opportunities. E-Bonds: The Definitive Guide to the Online Bond Market provides a comprehensive overview of the marketplace, and identifies key players and emerging strategies for buying bonds online. Readers will walk through the entire transaction process for each of the primary platforms with the help of expert analysts, and learn more about accessing and trading bonds online through anecdotal examples, case studies, and perspectives from experienced online bond traders. Covering all fixed income instruments available to investors, E-Bonds is a valuable reference for anyone looking to trade bonds over the Internet. Jake Wengroff (New York, NY) is an independent financial communications consultant and contributor to a number of financial publications including CFO magazine. Wengroff was formerly vice president of corporate marketing for Bear Stearns, where he worked on the firm's venture funds.
Book Synopsis Bond Investing by : Leonardo Guiliani
Download or read book Bond Investing written by Leonardo Guiliani and published by Independently Published. This book was released on 2023-09-08 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are you ready to unlock the secrets of bond investing and create a secure future for yourself? Look no further than "Bond Investing - A Comprehensive Guide to Bond Market Strategies." Packed with scientific insights, motivational guidance, and entertaining anecdotes, this book is your ultimate companion on your journey to becoming a successful bond investor. Discover the power of bond investing as you learn to analyze yield curves, assess credit risks, and build a diversified bond portfolio. With high-quality references to back up the scientific background, you'll gain the knowledge and confidence needed to make informed investment decisions. Whether you're a novice or an experienced investor, this book provides valuable strategies and techniques to optimize your bond investments. With a friendly and approachable writing style, this book makes complex concepts easy to understand and apply in real-world scenarios. You'll learn how to navigate the ever-changing bond market and seize opportunities for growth and income. Don't miss out on the potential of bond investing to build your wealth and secure your financial future. Invest in your future today with "Bond Investing - A Comprehensive Guide to Bond Market Strategies." Get your copy now and take the first step towards achieving your financial goals!
