Bonds

Hildy Richelson 지음

Bloomberg Press 2011년 08월 15일 출간

작품소개

책소개

Updated edition of the established classic on investing in bondsIn Bonds: The Unbeaten Path to Secure Investment Growth, Second Edition, the fully revised and updated edition of the classic guide to demystifying the bonds market, veteran investor husband and wife team Hildy and Stan Richelson expose the myth of stocks' superior investment returns and propose an all-bond portfolio as a sure-footed strategy that will ensure positive returns. Designed to educate novice and sophisticated investors alike, as well as to serve as a tool for financial advisers, the book explains why and when bonds can be the right choice. Case studies, detailed bond strategies, and a financial planning overview bring home the value of bonds in achieving financial goals. Presenting a broad spectrum of bond-investment options, and describing how to purchase bonds at the best prices, the book shows how to make real money by investing in bonds. The strategies presented here are designed to help the reader determine how to use bonds to take control of their own financial destiny.New edition includes information on corporate bonds, emerging market bonds, municipal bonds, the new global ratings, and how to protect against municipal defaultsLooks at how bond portfolios protected against market volatility in the 2007-2008 crash and how they can do the same in the futureIncludes information on how the bond market has changedThe wealthiest investors and financial advisers use the bond strategies outlined in this book to maximize the return on their portfolios while providing security of principalWith more bond options available than ever before, Bonds continues to be a must-have for anyone looking to understand the investment opportunities available to them.

목차

Foreword xxiiiPreface xxviiAcknowledgments xxxviiIntroduction xxxixPART I Clearing the Cobwebs 1Chapter 1 Bonds: The Better Investment 3Examining the Myths 5Historical Annual Return 5Unhappy Returns: Uncovering the True Returns on Stock Investments 6Taxes, Costs, and Risks of Investing in Bonds 9Past Performance 10Risk 14Growth and Income 18A Second Look at Risks and Returns 19Stock Market Volatility: The Impact on Retirement Planning 21Why Bonds Are a Better Investment than Stocks 23Individual and Institutional Investors: How They Differ 24Institutional Bond Investors 25Key Questions to Ask about Whether You Should Invest in Stocks rather than Bonds 27Notes 27Chapter 2 The All-Bond Portfolio 29Advantages of the All-Bond Portfolio 30Financial Planning 31Designing the All-Bond Portfolio 33Plain Vanilla Bonds 33Plain Vanilla Exclusions 34A Word about Other Bonds 36High-Yield Debt 36The All-Bond Antidote to Greed and Fear 37Notes 38Chapter 3 Adopting the All-Bond Portfolio: A Case Study 39A Poor-Fitting Portfolio 39Peter&-s Financial Objectives 40Peter&-s Concerns about His Portfolio 41A Consultation with Stan Richelson 43A Financial Plan Aligned with Objectives 44Step 1: Peter&-s Objectives and Financial Needs 45Step 2: Allocation Between Safe Bonds and All Other Assets 45Step 3: Tax Review 45Step 4: A Goal-Directed Portfolio 46Reaching a Comfort Level 48Note 48PART II Bond Basics 49Chapter 4 The Evolution of a Bond: From Verbal IOU to Electronic Entry 51Learning the Language 51The Early Years 52A Colonial Debut 55After the American Revolution 56Entering the Twentieth Century 59Changes in the Twentieth Century 62A Modern Metamorphosis 64Great Recession of 2007&~2009 67Basel III&-International Securities Standards 68Derivative Regulation 70The

출판사 서평

&"There&-s no such thing as risk-free investing, but Bonds, Second Edition gives investors practical advice on ways to minimize risk while growing their assets.&"&-Bill D&-Alonzo, Chief Executive Officer of Friess Associates, manager of the Brandywine Funds family of growth-stock mutual funds&"Over the past decade the &"truth&" that investment in equities is a sound and perhaps&the surest path to long term portfolio success has been severely tested. The Richelsons make a persuasive case for taking a path less travelled &~ that of investing in individual bonds. With historical examples comparing the stock and bond markets, risk-reward analyses and exploring the &"magic&" of compounding, the book is at a minimum a fascinating read and for many will be a blue-print for a revolutionary new portfolio design.&"&-Victor Keen, Of Counsel, Duane Morris LLP&"Hildy and Stan have written the &-Everything You Always Wanted to Know About Bonds But Were Afraid to Ask&- book. This book provides clear and concise insights into bond investing.&"&-Alan Schapire, CFP®, CPA/PFS, Principal, Libra Financial Planning&"Stocks are always risky, no matter the long-run. Bonds should always have a place in investment portfolios. Stan and Hildy have been saying this correctly for years. Bonds: The Unbeaten Path to Secure Investment Growth, now in its second edition, is one of the best in-depth reviews of wisely navigating the bond markets and how to practically implement thoughtful strategies for financial advisors and advisor-clients alike. Fellow colleagues, this is a must read.&"&-Michael Dubis, CFP®, President, Michael A. Dubis Financial Planning; Adjunct Lecturer, University of Wisconsin Graaskamp Center for Real Estate; past NAPFA National Conference Chair&"Bonds still a

작가정보

저자(글) Hildy Richelson

저자 :

저자 :

저자 :

저자 :

저자 :
저자 :
저자 :
The advice of Hildy Richelson, PhD, and Stan Richelson, JD, LLM, on bond investing is sought across the United States by individuals, financial advisors, and the media. As nationally recognized bond advisors and financial authors of five bond books, they have translated the complex world of bond investing into diagrams and layman's language, enabling motivated investors to take control of their financial lives. Scarsdale Investment Group, Ltd. restricts its practice to the design and implementation of bond portfolios for high-net-worth individuals. Visit their website at www.allbondportfolios.com and sign up for a free newsletter to receive updates on bond market trends.