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El. knyga: Convertible Securities: A Complete Guide to Investment and Corporate Financing Strategies

4.67/5 (11 ratings by Goodreads)
  • Formatas: 512 pages
  • Išleidimo metai: 05-Apr-2022
  • Leidėjas: McGraw-Hill Education
  • Kalba: eng
  • ISBN-13: 9781260462913
Kitos knygos pagal šią temą:
  • Formatas: 512 pages
  • Išleidimo metai: 05-Apr-2022
  • Leidėjas: McGraw-Hill Education
  • Kalba: eng
  • ISBN-13: 9781260462913
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"The definitive guide to reduced-risk investing in the $450 billion convertible securities market From Advent Capital Management-one of the world's top experts on convertible securities-Convertible Securities describes the mechanics and behavior of convertible securities in comprehensive yet easy-to-understand language. Written for discerning investors as well as corporate CFOs and Treasurers seeking quantitative insights and theories presented in a methodical and understandable format using recent and relevant examples. The book explains the mathematical underpinnings of convertible securities and provides thorough analyses of convertibles from every angle-including those of various types of investors and issuers and numerous related disciplines (tax, performance analysis, accounting, risk management, etc.). Specific topics include: Unique and Valuable Features in Convertible Bonds and Preferreds How Savvy Investors Use Convertibles in their Portfolios How CFOs Optimize Corporate Capital Structures withConvertibles Valuation & Quantitative Properties of Convertibles Investment Behavior Asset Allocation Models Convertible Bonds for Related Professions Practical Considerations for Allocators-and much more!"--

The definitive guide to reduced-risk investing in the $600+ billion global convertible securities market

From Advent Capital Management one of the world’s top experts on convertible securities Convertible Securities describes the mechanics and behavior of convertible securities in comprehensive yet easy-to-understand language.

Written for discerning investors as well as corporate CFOs and treasurers, Convertible Securities provides quantitative insights and theories presented in a methodical and understandable format using recent and relevant examples. It explains the mathematical underpinnings of convertible securities and offers thorough analyses of convertibles from every angle, including those of various types of investors and issuers and numerous related disciplines (tax, performance analysis, accounting, risk management, and others). Topics include:

  • Unique and Valuable Features in Convertible Bonds and Convertible Preferred Stocks
  • How Savvy Investors Use Convertibles in their Portfolios
  • How CFOs Optimize Corporate Capital Structures with Convertibles
  • Valuation & Quantitative Properties of Convertibles
  • Psychology and Investing in Convertibles
  • Asset Allocation Models that Weigh the Advantages of Convertibles
  • Practical Considerations for Convertible Investors and much more!

A high value-added asset class with a unique record of achieving equity-like returns with less risk than outright investment in common stocks, convertible securities are perfect for times when markets are at their most unpredictable. Convertible Securities offers everything you need to make them work for you, now and in the future.

Foreword v
Preface vii
Acknowledgments xv
Chapter 1 Introduction to Convertible Securities: Equity-like Returns with Less Risk
1(30)
Chapter 2 Traditional Convertible Strategies
31(25)
Chapter 3 Convertible History: Steam Railways to the Internet Highways
56(26)
Chapter 4 Global Convertibles by Sector: Funding Technology, Growth, Turnarounds
82(36)
Chapter 5 Behavior and Risk Aversion in the Context of Convertibles
118(26)
Chapter 6 Convertible Indices, Performance, and Asset Allocation
144(56)
Chapter 7 Hedged Convertibles: Basics and Performance
200(29)
Chapter 8 Convertible Valuation Basics
229(28)
Chapter 9 Advanced Convertible Valuation
257(30)
Chapter 10 Risk Management and Exposure Analysis
287(24)
Chapter 11 Understanding Sensitivity to Equity Prices: Delta, Gamma, and Vega
311(47)
Chapter 12 All-in Yield and Sensitivity to Credit and Rate Markets
358(45)
Chapter 13 Convertible Hedging Techniques and Analysis
403(40)
Chapter 14 Convertibles and Convertible-like Structures in Private Capital Markets
443(23)
Chapter 15 Optimizing Corporate Capital Structures with Convertibles
466(26)
Chapter 16 Convertible Accounting, Taxation, Regulation, ESG Standards, and Execution
492(25)
Index 517(22)
About the Authors 539
Tracy V. Maitland is President and Chief Investment Officer at Advent Capital Management, LLC. Prior to founding Advent, he served as a Director in the convertible securities department in Merrill Lynchs capital markets division, where he was instrumental in introducing convertibles as an asset class to major institutional investors worldwide. 

F. Barry Nelson, CFA is a retired Partner of Advent Capital Management who served as a Portfolio Manager and who continues to serve as a Senior Advisor to the firm.

Dan Partlow is a Managing Director and the Chief Risk Officer of Advent; he was previously the Chief Risk Officer of Stanfield Capital Partners.