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INVESTING IN MUNICIPAL BONDS: How to Balance Risk and Reward for Success in Today’s Bond Market epub download

by Philip Fischer


Investing in Municipal Bonds is the perfect place to start. 7 people found this helpful.

Investing in Municipal Bonds is the perfect place to start. His areas of expertise include fixed income, especially municipal bonds, focusing on economic and market analysis.

Investing in Municipal Bonds shows you how it's done on Wall Street . Even with my over 25 years in the business, this book earns a trophy spot on my muni reference shelf.

Investing in Municipal Bonds shows you how it's done on Wall Street, providing a wealth of pertinent examples from the real world.

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Investing in Municpal Bonds provides an overview of the bond market and describes the personalities and traits of various types of bonds

Investing in Municpal Bonds provides an overview of the bond market and describes the personalities and traits of various types of bonds. This book also offers an insightful look at the 2008 financial crisis from the perspective of an experienced bond analyst Investing in Municipal Bonds. We're committed to providing low prices every day, on everything.

Автор: Fischer Philip Название: Investing in Municipal Bonds: How to Balance .

Municipal bonds are a booming market; as of December 1998, there were nearly USD1. 5 trillion outstanding in municipal bonds.

Investing in Municipal Bonds : How to Balance Risk and Reward for Success in Today's Bond Market.

Municipal bonds can be a tricky lot, but Fischer's book goes a long way toward making them understandable. Investing in Municipal Bonds is the perfect place to start.

Investing in Municipal Bonds shows you how it’s done on Wall Street, providing a wealth of pertinent examples from the real world. Philip Fischer can offer such a brilliantly practical amalgam of big-picture financial theory and nuts-and-bolts bond calculations. COLBY III, Senior Municipal Manager, Van Eck Global Dr. Now, the threat of muni. Municipal bonds can be a tricky lot, but Fischer's book goes a long way toward making them understandable. SeekingAlpha 20130124.

Considering investing in the bond market? .

Considering investing in the bond market? Explore the risks, including interest rate, reinvestment, call, default, and inflation risks. Options & Futures. The most well-known risk in the bond market is interest rate risk – the risk that bond prices will fall as interest rates rise.

He draws on years of study and practice in Investing in Municipal Bonds: How to Balance Risk and Reward for Success in Today's Bond Market (McGraw-Hill, 2013), a book aimed at high net worth investors, financial advisors, and trust departments. Fischer first offers what he calls "a little history. One of the more interesting tidbits was a paragraph on mandamus suits during the Reconstruction period. he administrators from the North were often highly unscrupulous in their issuance of municipal debt.

Maximize profits with the perfect balance between risk and reward

Municipal bonds have traditionally given investors a reliable investment while providing state and local governments with an essential tool for funding public infrastructure projects. Now, the threat of municipalities defaulting and dramatic changes to the muni market’s fundamental operations have created an attractive hotbed of opportunity for today’s top institutional investors.

Investing in Municipal Bonds is the retail investor’s road map to the lucrative market that is fueling the digital and physical highways of the future.

Only Dr. Philip Fischer can offer such a brilliantly practical amalgam of big-picture financial theory and nuts-and-bolts bond calculations. His crystal-clear explanation of the muni market covers every aspect, including the various “personalities” and traits of different types of bonds. His hands-on strategies for earning more from your money will keep this book at your fingertips as you customize a profitable municipal bond portfolio to achieve your financial goals.

Political and business leaders as well as financial professionals seek Dr. Fischer’s knowledge and firsthand insights into municipal securities, from day-to-day trading to milestone events like the 2008 financial crisis.

Investing in Municipal Bonds shows you how it’s done on Wall Street, providing a wealth of pertinent examples from the real world. You can rely on this powerful guidebook for the know-how and skill set you need to confidently: Invest in fixed-rate and variable-rate bonds, including Variable Rate Demand Obligations (VRDOs) Identify different types of bonds and determine how they will be repaid Execute municipal bond-yield calculations Navigate the derivatives market, including LIBOR interest-rate swaps Weigh the benefits of taxable municipal bonds Research municipal securities using the online database of the Municipal Securities Rule Making Board (MSRB)

Bond yields will eventually rebound from these historic lows and bring increased risk. Investing in Municipal Bonds will give you the knowledge you need to adjust your risk and balance profi t for continued success toward your financial goals.

Praise for Investing in Municiple Bonds:

“In addition to an accessible discussion of this unique market’s financial structures, Fischer provides the historical context for why the market evolved the way it did―and how that history may influence municipal bond investments in an era of slow economic growth and rising costs for retirees.”―MICHAEL STANTON, Publisher, The Bond Buyer

“If there were a graduate program in Municipal Finance, Dr. Fischer’s treatise would quickly climb to the top of the syllabus.”―JAMES T. COLBY III, Senior Municipal Strategist/Portfolio Manager, Van Eck Global

“Dr. Fischer brings a ‘what you need to know’ approach to the novice and the experienced practitioner alike. He poignantly relates how the very nuanced market structure influences and prices this market. Even with my over 25 years in the business, this book earns a trophy spot on my muni reference shelf.”―JOSEPH CAMPAGNA, Senior Vice President, BayernLB, Financial Institutions & Sovereigns

“A well-written, thorough, and meticulous primer to the history, the instruments, and the segments that comprise the municipal bond market.”―PROFESSOR JOHN CHALMERS, Abbott Keller Distinguished Research Scholar, Associate Professor of Finance, Charles H. Lundquist College of Business, University of Oregon

“If you would like to learn more about municipal bonds so that you know how to check off each item on the checklist, I highly recommend buying Investing in Municipal Bonds.”―DAVID WARING, LearnBonds

INVESTING IN MUNICIPAL BONDS:  How to Balance Risk and Reward for Success in Today’s Bond Market epub download

ISBN13: 978-0071809757

ISBN: 0071809759

Author: Philip Fischer

Category: Business and Money

Subcategory: Investing

Language: English

Publisher: McGraw-Hill Education; 1 edition (January 8, 2013)

Pages: 256 pages

ePUB size: 1529 kb

FB2 size: 1710 kb

Rating: 4.2

Votes: 617

Other Formats: lrf mbr txt rtf

Related to INVESTING IN MUNICIPAL BONDS: How to Balance Risk and Reward for Success in Today’s Bond Market ePub books

Oparae
This is an excellent book for the investor looking to quickly come up to speed with municipal bonds and the municipal bond market.

The reading is not difficult, as opposed to many books on the topic that get caught up in low level details complicating things more than necessary.
Oparae
This is an excellent book for the investor looking to quickly come up to speed with municipal bonds and the municipal bond market.

The reading is not difficult, as opposed to many books on the topic that get caught up in low level details complicating things more than necessary.
Fordg
This is a thorough and very readable walk through all aspects of the municipal market. The book traces the history of the muni market, the types of bonds, and the issuers. Some of the book covers ground common to all bond investing, such as managing interest rate risk and the basics of building a bond portfolio. The author also gives very understandable descriptions of elements unique to munis, such as conduit financings and refundings.
The book also gives a balanced description of two important items of current interest that are not addressed in older books on munis: the potential for default and the potential for eventual taxation of muni interest.
Towards the end of the book, the author covers elements of the muni market that most invidual investors would not get involved with, but should know about. He gives a very understandable description of the legal aspects of muni refundings, interst rate swaps and credit defualt swaps. These are areas that typically involve only professional investors. But if you are investing in the market, you ought to know about what the pros are doing!
Fordg
This is a thorough and very readable walk through all aspects of the municipal market. The book traces the history of the muni market, the types of bonds, and the issuers. Some of the book covers ground common to all bond investing, such as managing interest rate risk and the basics of building a bond portfolio. The author also gives very understandable descriptions of elements unique to munis, such as conduit financings and refundings.
The book also gives a balanced description of two important items of current interest that are not addressed in older books on munis: the potential for default and the potential for eventual taxation of muni interest.
Towards the end of the book, the author covers elements of the muni market that most invidual investors would not get involved with, but should know about. He gives a very understandable description of the legal aspects of muni refundings, interst rate swaps and credit defualt swaps. These are areas that typically involve only professional investors. But if you are investing in the market, you ought to know about what the pros are doing!
Reggy
I cannot imagine a more clear, concise and understandable explanation of municipal bonds. Mr. Fischer delivers the necessary information in a highly focussed way. With this book, any reasonably experienced investor can become truly savvy about understanding the market and selecting good municipal bonds from the many hundreds of issues available for purchase.
Reggy
I cannot imagine a more clear, concise and understandable explanation of municipal bonds. Mr. Fischer delivers the necessary information in a highly focussed way. With this book, any reasonably experienced investor can become truly savvy about understanding the market and selecting good municipal bonds from the many hundreds of issues available for purchase.
Micelhorav
Perhaps 3 stars is unfair. I found the book very dry and that is from someone with a philosophy major. I believe it provides accurate information about the municipal bond market, but it is lacking in a (sufficient for me) strategic perspective that would have made the read more interesting.
Micelhorav
Perhaps 3 stars is unfair. I found the book very dry and that is from someone with a philosophy major. I believe it provides accurate information about the municipal bond market, but it is lacking in a (sufficient for me) strategic perspective that would have made the read more interesting.
Delari
This book provided great insights which I found very helpful. I would recommend it to anyone interested in muni bonds
Delari
This book provided great insights which I found very helpful. I would recommend it to anyone interested in muni bonds
Dusar
In my life, I have been a mortgage bond manager, and a corporate bond manager. I have enough overall experience that I have played in most bond and loan categories, including municipal bonds.

Municipal bonds are one place where the competition level is low, and additional knowledge can pay off. This is particularly true in an era where municipal bond insurance is less prevalent, and as such credit analysis has more value.

This book gives you the basics on municipal bonds. The most basic idea is economic necessity. Who will be harmed if the municipality in question can't perform? If the the answer is "few," that might not be a good municipal bond to buy, unless there are significant covenants requiring a municipality to raise taxes to pay for the debt service.

Municipal bonds are an unusual market because there are many issuers, purposes, and bond styles. The dominant non-taxable bonds are only bought by Americans, and sometimes only by those in a given state.

Municipal bonds are also different because most of the bonds issued have long maturity dates. Municipalities want predictability in borrowing costs; they also match the borrowing term to the length of what is funded, which is typically long.

The book will take you through:

* Bond types
* Covenants
* Types of bonds that are more risky
* How bonds pay off
* Taxation of bonds
* The ugliness of trading municipal bonds
* The challenge of analyzing municipal economies
* Basic yield calculations
* Portfolio management
* Derivatives -- though that was more of an issue in the past

I would highlight one big issue here. Most small municipal issues rarely trade. Assembling your own portfolio of municipal bonds is a tough proposition. Flexibility is required to assemble your own ladder of municipal bonds.

Quibbles

None. Good book.

Who would benefit from this book: If you are willing to put in the time to analyze what municipal bonds are worthy to be bought, this book will help you.
Dusar
In my life, I have been a mortgage bond manager, and a corporate bond manager. I have enough overall experience that I have played in most bond and loan categories, including municipal bonds.

Municipal bonds are one place where the competition level is low, and additional knowledge can pay off. This is particularly true in an era where municipal bond insurance is less prevalent, and as such credit analysis has more value.

This book gives you the basics on municipal bonds. The most basic idea is economic necessity. Who will be harmed if the municipality in question can't perform? If the the answer is "few," that might not be a good municipal bond to buy, unless there are significant covenants requiring a municipality to raise taxes to pay for the debt service.

Municipal bonds are an unusual market because there are many issuers, purposes, and bond styles. The dominant non-taxable bonds are only bought by Americans, and sometimes only by those in a given state.

Municipal bonds are also different because most of the bonds issued have long maturity dates. Municipalities want predictability in borrowing costs; they also match the borrowing term to the length of what is funded, which is typically long.

The book will take you through:

* Bond types
* Covenants
* Types of bonds that are more risky
* How bonds pay off
* Taxation of bonds
* The ugliness of trading municipal bonds
* The challenge of analyzing municipal economies
* Basic yield calculations
* Portfolio management
* Derivatives -- though that was more of an issue in the past

I would highlight one big issue here. Most small municipal issues rarely trade. Assembling your own portfolio of municipal bonds is a tough proposition. Flexibility is required to assemble your own ladder of municipal bonds.

Quibbles

None. Good book.

Who would benefit from this book: If you are willing to put in the time to analyze what municipal bonds are worthy to be bought, this book will help you.