LEVERAGED FINANCE: CONCEPTS, METHODS, AND TRADING OF HIGH-YIELD BONDS, LOANS, AND DERIVATIVES BY STEPHEN J. ANTCZAK, DOUGLAS J. LUCAS, FR
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LEVERAGED FINANCE: CONCEPTS, METHODS, AND TRADING OF HIGH-YIELD BONDS, LOANS, AND DERIVATIVES BY STEPHEN J. ANTCZAK, DOUGLAS J. LUCAS, FR PDF
Envision that you get such certain outstanding encounter and also knowledge by just reading a book Leveraged Finance: Concepts, Methods, And Trading Of High-Yield Bonds, Loans, And Derivatives By Stephen J. Antczak, Douglas J. Lucas, Fr. Just how can? It appears to be higher when a book can be the most effective thing to find. Books now will certainly show up in published and soft file collection. Among them is this publication Leveraged Finance: Concepts, Methods, And Trading Of High-Yield Bonds, Loans, And Derivatives By Stephen J. Antczak, Douglas J. Lucas, Fr It is so common with the printed publications. Nonetheless, lots of people often have no room to bring the e-book for them; this is why they cannot read guide anywhere they really want.
Review "…a resource that will be invaluable to traditional and nontraditional investors long after the market recovers." (The Investment Professional) From the Inside Flap The financial crisis that began in 2007 has prompted unprecedented volatility in asset valuations and left many wondering how to overcome its challenges. Given this extreme investment environment, investors need to make decisions that enable an appropriate risk/return profile, and the leveraged finance market can be a very important option in this regard. Nobody understands this area better than the author team of Stephen Antczak, Douglas Lucas, and Frank Fabozzi. And now, with Leveraged Finance, they help both experienced and aspiring market professionals gain a better understanding of today's high-yield corporate debt markets. Leveraged Finance doesn't attempt to predict the future of markets or the ultimate outcome of this crisis. It was written to put the principles of the leveraged finance market in perspective. With this reliable resource as your guide, you'll quickly become familiar with the tools available in the leveraged finance market, how they are related to assets and investment opportunities in other markets, and how to apply these concepts in the real world. In the past, the assets within the leveraged finance market fell into one of two categories: cash bonds or cash loans. But times have changed. With the introduction of products such as credit default swaps, synthetic indexes, and index tranches, leveraged finance investors have many tools to work with and assets to consider. This book attempts to tie the various pieces that comprise the leveraged finance market together. Its fourteen chapters are divided into five comprehensive parts:
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●
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Part One covers the cash markets, which include high-yield bonds—also known as speculativegrade or junk bonds—and leveraged loans Part Two takes a look into the structured market, focusing on one type of collateralized debt obligation—collateralized loan obligations (CLOs) Part Three examines the relatively young synthetic markets, which include credit default swaps (CDS), traded credit indexes, and index tranches Part Four reviews trading strategies that investors can employ within the leveraged finance market Part Five addresses default correlation—the phenomenon that the likelihood of one obligor defaulting on its debt is affected by whether or not another obligor has defaulted on its debts
Those with the knowledge and skill to participate in the leveraged finance space stand to benefit from the many opportunities that the current environment is creating. Filled with in-depth insights and expert advice, Leveraged Finance will help you identify and take advantage of these opportunities.
From the Back Cover Leveraged Finance is a comprehensive guide to the instruments and markets that finance much of corporate America. Presented in five sections, this reliable resource—which contains the in-depth insights of Stephen Antczak, Douglas Lucas, and Frank Fabozzi—covers topics ranging from the basics of bonds and loans to more advanced issues such as valuing credit default swaps, default correlations among collateralized loan obligations, and hedging strategies across corporate capital structures. Additional topics touched upon include basic corporate credit analysis, relative value analysis, and various trading strategies used by investors, such as hedging credit risk with the equity derivatives of a different company. Along the way, this reliable resource: ●
● ●
Presents real-market examples of how you can identify investment opportunities and express your views on the market or specific companies through trading strategies Examines various underlying assets-loans, corporate bonds, and much more Offers an overview of synthetic and structured products such as CDS, LCDS, CDX, LCDX, and CLOs
Written in a straightforward and accessible style, Leveraged Finance has the information you need to succeed in today's dynamic financial arena.
LEVERAGED FINANCE: CONCEPTS, METHODS, AND TRADING OF HIGH-YIELD BONDS, LOANS, AND DERIVATIVES BY STEPHEN J. ANTCZAK, DOUGLAS J. LUCAS, FR PDF
Download: LEVERAGED FINANCE: CONCEPTS, METHODS, AND TRADING OF HIGH-YIELD BONDS, LOANS, AND DERIVATIVES BY STEPHEN J. ANTCZAK, DOUGLAS J. LUCAS, FR PDF
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LEVERAGED FINANCE: CONCEPTS, METHODS, AND TRADING OF HIGH-YIELD BONDS, LOANS, AND DERIVATIVES BY STEPHEN J. ANTCZAK, DOUGLAS J. LUCAS, FR PDF
A timely guide to today’s high-yield corporate debt markets Leveraged Finance is a comprehensive guide to the instruments and markets that finance much of corporate America. Presented in five sections, this experienced author team covers topics ranging from the basics of bonds and loans to more advanced topics such as valuing CDs, default correlations among CLOs, and hedging strategies across corporate capital structures. Additional topics covered include basic corporate credit, relative value analysis, and various trading strategies used by investors, such as hedging credit risk with the equity derivatives of a different company. Stephen Antczak, Douglas Lucas, and Frank Fabozzi present readers with real-market examples of how investors can identify investment opportunities and how to express their views on the market or specific companies through trading strategies, and examine various underlying assets including loans, corporate bonds, and much more. They also offer readers an overview of synthetic and structured products such as CDS, LCDS, CDX, LCDX, and CLOs. Leveraged Finance has the information you need to succeed in this evolving financial arena. ● ● ● ● ● ● ●
Sales Rank: #872087 in Books Published on: 2009-07-27 Original language: English Number of items: 1 Dimensions: 9.17" h x 1.24" w x 6.46" l, 1.19 pounds Binding: Hardcover 368 pages
Review "…a resource that will be invaluable to traditional and nontraditional investors long after the market recovers." (The Investment Professional) From the Inside Flap The financial crisis that began in 2007 has prompted unprecedented volatility in asset valuations and left many wondering how to overcome its challenges. Given this extreme investment environment, investors need to make decisions that enable an appropriate risk/return profile, and the leveraged finance market can be a very important option in this regard. Nobody understands this area better than the author team of Stephen Antczak, Douglas Lucas, and Frank Fabozzi. And now, with Leveraged Finance, they help both experienced and aspiring market professionals gain a better understanding of today's high-yield corporate debt markets. Leveraged Finance doesn't attempt to predict the future of markets or the ultimate outcome of this crisis. It was written to put the principles of the leveraged finance market in perspective. With this
reliable resource as your guide, you'll quickly become familiar with the tools available in the leveraged finance market, how they are related to assets and investment opportunities in other markets, and how to apply these concepts in the real world. In the past, the assets within the leveraged finance market fell into one of two categories: cash bonds or cash loans. But times have changed. With the introduction of products such as credit default swaps, synthetic indexes, and index tranches, leveraged finance investors have many tools to work with and assets to consider. This book attempts to tie the various pieces that comprise the leveraged finance market together. Its fourteen chapters are divided into five comprehensive parts: ●
●
●
●
●
Part One covers the cash markets, which include high-yield bonds—also known as speculativegrade or junk bonds—and leveraged loans Part Two takes a look into the structured market, focusing on one type of collateralized debt obligation—collateralized loan obligations (CLOs) Part Three examines the relatively young synthetic markets, which include credit default swaps (CDS), traded credit indexes, and index tranches Part Four reviews trading strategies that investors can employ within the leveraged finance market Part Five addresses default correlation—the phenomenon that the likelihood of one obligor defaulting on its debt is affected by whether or not another obligor has defaulted on its debts
Those with the knowledge and skill to participate in the leveraged finance space stand to benefit from the many opportunities that the current environment is creating. Filled with in-depth insights and expert advice, Leveraged Finance will help you identify and take advantage of these opportunities.
From the Back Cover Leveraged Finance is a comprehensive guide to the instruments and markets that finance much of corporate America. Presented in five sections, this reliable resource—which contains the in-depth insights of Stephen Antczak, Douglas Lucas, and Frank Fabozzi—covers topics ranging from the basics of bonds and loans to more advanced issues such as valuing credit default swaps, default correlations among collateralized loan obligations, and hedging strategies across corporate capital structures. Additional topics touched upon include basic corporate credit analysis, relative value analysis, and various trading strategies used by investors, such as hedging credit risk with the equity derivatives of a different company. Along the way, this reliable resource: ●
● ●
Presents real-market examples of how you can identify investment opportunities and express your views on the market or specific companies through trading strategies Examines various underlying assets-loans, corporate bonds, and much more Offers an overview of synthetic and structured products such as CDS, LCDS, CDX, LCDX, and CLOs
Written in a straightforward and accessible style, Leveraged Finance has the information you need to succeed in today's dynamic financial arena.
Most helpful customer reviews 5 of 5 people found the following review helpful. doesn't try to predict the future By W Boudville The book was written in early 2009, just as the market was plumbing new multiyear lows. Perhaps because of this, the authors are careful not to offer any predictions as to the future. Instead the book is timely, in that it explains CLOs and CDSs to a reader unacquainted with them. We are reminded that CLOs have been around 20 years, which includes the 90-1 and 2001 recessions. These were not generally implicated as causes of those events. But CLOs and their sisters, the CDSs, were common funding events in recent years. The text describes how these were typically made out of simpler financial constructs. Unsurprisingly considering when the book was written, there is an extensive discussion about the default rates. Of course these are historical, and the reader should appreciate that the severity of the current recession might well yield higher defaults. Generally the maths is kept at a necessary minimum; just enough to illustrate the concepts. 5 of 6 people found the following review helpful. Authoritative and approachable By Gamma As a practitioner, i found this author's approach authoritative and approachable. The subject matter was well organized and fully detailed, yet it was also readable. This is a book that can function as a great intro to Lev Fin for the average or advanced investor. It's a must read for those interested in Lev Fin, CLO's, and High Yield. Great thoughts and great perspective from some of the greatest minds in this space. 1 of 1 people found the following review helpful. This book has an extensive section on CLOS. If you are looking for a true 101 on CLOS- this is where to find it. By OPerk This book has an extensive section on CLOS. If you are looking for a true 101 on CLOS- this is where to find it. See all 5 customer reviews...
LEVERAGED FINANCE: CONCEPTS, METHODS, AND TRADING OF HIGH-YIELD BONDS, LOANS, AND DERIVATIVES BY STEPHEN J. ANTCZAK, DOUGLAS J. LUCAS, FR PDF
Why should be this online publication Leveraged Finance: Concepts, Methods, And Trading Of High-Yield Bonds, Loans, And Derivatives By Stephen J. Antczak, Douglas J. Lucas, Fr You might not have to go somewhere to review guides. You could review this e-book Leveraged Finance: Concepts, Methods, And Trading Of High-Yield Bonds, Loans, And Derivatives By Stephen J. Antczak, Douglas J. Lucas, Fr every single time as well as every where you desire. Also it remains in our spare time or sensation bored of the tasks in the workplace, this corrects for you. Obtain this Leveraged Finance: Concepts, Methods, And Trading Of High-Yield Bonds, Loans, And Derivatives By Stephen J. Antczak, Douglas J. Lucas, Fr right now and also be the quickest individual which completes reading this book Leveraged Finance: Concepts, Methods, And Trading Of High-Yield Bonds, Loans, And Derivatives By Stephen J. Antczak, Douglas J. Lucas, Fr Review "…a resource that will be invaluable to traditional and nontraditional investors long after the market recovers." (The Investment Professional) From the Inside Flap The financial crisis that began in 2007 has prompted unprecedented volatility in asset valuations and left many wondering how to overcome its challenges. Given this extreme investment environment, investors need to make decisions that enable an appropriate risk/return profile, and the leveraged finance market can be a very important option in this regard. Nobody understands this area better than the author team of Stephen Antczak, Douglas Lucas, and Frank Fabozzi. And now, with Leveraged Finance, they help both experienced and aspiring market professionals gain a better understanding of today's high-yield corporate debt markets. Leveraged Finance doesn't attempt to predict the future of markets or the ultimate outcome of this crisis. It was written to put the principles of the leveraged finance market in perspective. With this reliable resource as your guide, you'll quickly become familiar with the tools available in the leveraged finance market, how they are related to assets and investment opportunities in other markets, and how to apply these concepts in the real world. In the past, the assets within the leveraged finance market fell into one of two categories: cash bonds or cash loans. But times have changed. With the introduction of products such as credit default swaps, synthetic indexes, and index tranches, leveraged finance investors have many tools to work with and assets to consider. This book attempts to tie the various pieces that comprise the leveraged finance market together. Its fourteen chapters are divided into five comprehensive parts: ●
●
Part One covers the cash markets, which include high-yield bonds—also known as speculativegrade or junk bonds—and leveraged loans Part Two takes a look into the structured market, focusing on one type of collateralized debt
●
●
●
obligation—collateralized loan obligations (CLOs) Part Three examines the relatively young synthetic markets, which include credit default swaps (CDS), traded credit indexes, and index tranches Part Four reviews trading strategies that investors can employ within the leveraged finance market Part Five addresses default correlation—the phenomenon that the likelihood of one obligor defaulting on its debt is affected by whether or not another obligor has defaulted on its debts
Those with the knowledge and skill to participate in the leveraged finance space stand to benefit from the many opportunities that the current environment is creating. Filled with in-depth insights and expert advice, Leveraged Finance will help you identify and take advantage of these opportunities.
From the Back Cover Leveraged Finance is a comprehensive guide to the instruments and markets that finance much of corporate America. Presented in five sections, this reliable resource—which contains the in-depth insights of Stephen Antczak, Douglas Lucas, and Frank Fabozzi—covers topics ranging from the basics of bonds and loans to more advanced issues such as valuing credit default swaps, default correlations among collateralized loan obligations, and hedging strategies across corporate capital structures. Additional topics touched upon include basic corporate credit analysis, relative value analysis, and various trading strategies used by investors, such as hedging credit risk with the equity derivatives of a different company. Along the way, this reliable resource: ●
● ●
Presents real-market examples of how you can identify investment opportunities and express your views on the market or specific companies through trading strategies Examines various underlying assets-loans, corporate bonds, and much more Offers an overview of synthetic and structured products such as CDS, LCDS, CDX, LCDX, and CLOs
Written in a straightforward and accessible style, Leveraged Finance has the information you need to succeed in today's dynamic financial arena.
Envision that you get such certain outstanding encounter and also knowledge by just reading a book Leveraged Finance: Concepts, Methods, And Trading Of High-Yield Bonds, Loans, And Derivatives By Stephen J. Antczak, Douglas J. Lucas, Fr. Just how can? It appears to be higher when a book can be the most effective thing to find. Books now will certainly show up in published and soft file collection. Among them is this publication Leveraged Finance: Concepts, Methods, And Trading Of High-Yield Bonds, Loans, And Derivatives By Stephen J. Antczak, Douglas J. Lucas, Fr It is so common with the printed publications. Nonetheless, lots of people often have no room to bring the e-book for them; this is why they cannot read guide anywhere they really want.
