| The Only Guide to a Winning Bond Strategy You'll Ever Need: The Way Smart Money Preserves Wealth Today | | |
| Features:
| • | ISBN13: 9780312353636 | | • | Condition: NEW | | • | Notes: Brand New from Publisher. No Remainder Mark. |
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| Editorial Reviews:
Product Description
Larry Swedroe has collaborated with Joe H. Hempen to create a totally up-to-date book on how to invest in today+s bond market. It covers a range of issues pertinent to any bond investor including:¥ Bond-speak¥ The risks of fixed income investing¥ Mortgage-backed securities¥ Tax-free municipal bonds.The Only Guide to A Winning Bond Strategy You+ll Ever Need is a no-nonsense handbook with all the information necessary to design and construct your fixed income portfolio. In this day and age of shaky stocks and economic unpredictability, Swedroe offers a crucial tool for any investor looking to safeguard his or her money.
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| Customer Reviews:
Showing reviews 1-5 of 25
 Awesome book December 24, 2009
Louise Hall (Binghamton, NY)
Book was in great shape. Good delivery - book itself was very understandable - not to detailed but great advice. Good transaction.
 Don't Bother with the Kindle Edition May 23, 2009
J. Johnston (Melbourne, Vic.)
Not only is this Kindle edition high priced but it lacks a usable table of contents, severely limiting navigation within the book.
Basic bonds - no great investment wisdom May 10, 2009
Houman Tamaddon (Seattle, WA)
1 out of 2 found this review helpful
In this era of record low interest rates bonds may not be a great investment, but bonds are a huge asset class and no matter what your investment strategy is, it is important to understand them. One could argue that the design and sale of bonds such as Mortgage Backed Securities played a critical role in the 2008-2009 recession. The authors do a fine job explaining the basics. They go through various types of bonds such as TIPS, I bonds, Municipals, Treasuries, and Corporate bonds.
Aside from dry and repetitive writing I was disappointed with the book on two separate fronts. First, for those interested in buying individual bonds, they really did not have a fair discussion on how to go about doing it. For example, there really was no practical material on how to purchase bonds on the internet. Perhaps this was done intentionally because of the authors' investment beliefs which leads to the second reason why the book was not perfect.
Second, the authors tout efficient market hypothesis (EMH) and diversification repeatedly. Two finance professors are walking together when they spot a $20 bill. One says to the other "don't bother picking it up - if it were a real $20 bill it wouldn't be there". This joke captures the essence of EMH. I want to be the person who find the $20 bills on the ground which the authors don't believe exist. Individual investors can agree and disagree with these theories, but I found that even the authors contradicting themselves. If you are a true believer of EMH, then after you advise readers on how to buy mutual funds with low expenses you should be done. After all, prices are a true reflection of their value according to EMH so why bother examining individual securities. For example, the authors do not like preferred stock, but according to EMH shouldn't their value be accurately reflected by the market? They also stated another type of bond as usually inefficiently priced which is another EMH contradiction. Diversification may be the optimal strategy for certain investors who do not have the interest or time in managing a portfolio but I believe readers of books like this one are looking for an edge. The authors' goal should be to make readers become the "smart money".
Overall, it may be fine reference book but as far as investment wisdom there is not much here.
Battle Tested January 8, 2009
Carmelo Figueroa
1 out of 1 found this review helpful
If you are thinking about investing in bonds or bond funds, this book is for you. This book was "battle tested" during the 2008 market debacle, and it passed the test with flying colors.
 No Strategy - Just Basics December 14, 2008
Pop (Pittsburgh PA)
2 out of 3 found this review helpful
I heard an interview by the author or Alternate Investments. Also in this interview the author talked about how TIPS is a great investment now (Dec 08). I got this book hoping the author will have an implementable point by point specific strategy to build a bond portfolio. But the book covers a lot of grounds about what is a bond , how to calculate yield , what is yield to maturity, what are mortgage backed bonds etc but no specific strategy. Also this book has to be updated with the cost information. For example the book advises against buying Treasury bonds in secondary markets because costs are high. They were high but many brokerages like ETRADE now do not charge a commission for buying TReasury bonds in secondary market.
I was dissappointed. THis books real title is BOnds 101 and is good for investors who do not know anything about bonds
Showing reviews 1-5 of 25
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