04643nam 2200697 a 450 991013900660332120200520144314.01-118-65970-81-118-65947-31-118-65960-0(CKB)2550000001111866(EBL)1441761(SSID)ssj0000980729(PQKBManifestationID)11632743(PQKBTitleCode)TC0000980729(PQKBWorkID)10969081(PQKB)11670135(DLC) 2013021086(Au-PeEL)EBL1441761(CaPaEBR)ebr10748674(CaONFJC)MIL511758(OCoLC)844775015(CaSebORM)9781118659700(MiAaPQ)EBC1441761(EXLCZ)99255000000111186620130523d2013 uy 0engurcn|||||||||txtccrBonds are not forever[electronic resource] the crisis facing fixed income investors /Simon A. Lack1st editionHoboken, N.J. John Wiley & Sons, Inc.20131 online resource (242 p.)Description based upon print version of record.1-118-65953-8 1-299-80507-8 Includes bibliographical references and index.Bonds Are Not Forever: The Crisis Facing Fixed Income Investors; Copyright; Contents; Preface; Acknowledgments; Chapter 1: From High School to Wall Street-The Bull Market Begins: Inflation Memories; As Bad as It Gets; Trading in Gilts; The Old Class Structure; A Nineteenth-Century Market; Finance Starts to Grow; Is Finance Good?; Investing After the Bubble; Chapter 2: A Brief History of Debt; Interest Rates in Ancient Times; Medieval Credit; The Beginnings of Modern-Day Finance; Borrowing Reaches the Mass Market; Student Debt; Big Borrowers in History; What We Owe NowChapter 3: Derivatives Growth Welcome to New York; Early Derivatives Growth; Swaps Take Off; Size Isn't Everything; Derivatives Reach Omaha; Norwegian Wood; Chapter 4: Bond Market Inefficiencies for Retail: A Simple Market Model; Stocks Are Fairer Than Bonds; Why Change Is Slow; Structured Notes; The Internet Threatens the Swaps Oligopoly; Municipal Bonds; Chapter 5: Trading Derivatives: Before Banks Were Exciting; Computers and Swaps; Should Banks Innovate?; Growth in Innovation; Volcker's Problem; Bring Me Clients with a Problem; Derivatives Missteps; Trading by the BookAn Options Book Blows Up Chapter 6: Politics: Government-Controlled Investing; Why Should We Worry?; Who Says There Is a Problem?; Look to the Future; Looking Ahead; Monetization-A Thought Experiment; Imperial Overstretch; More Debt Means More Banking; Chapter 7: Managing Risk 1990-1998: Risk-Oriented Market Making; Traders and Risk; Why Traders Are Bad at Budgeting; The Growth of Global Trading; Managing Obscure Basic Risks; What's the Social Purpose?; Wall Street Fuels the Debt Growth; Chapter 8: Inflation: A Brief History; Germany's Defining Economic Experience; Inflation TodayThe Fed's Huge Mistake You Can't Spend Quality Improvements; What Critics Say; Measuring What They Can, Not What Counts; Chapter 9: Bonds Are Not Forever: Putting It All Together; Wall Street Built It; Make Your Own Bond; High Dividend, Low Beta; Hedged Dividend Capture; Master Limited Partnerships (MLPs); Deep Value Equities; Debt Is Bad; Bonds Are Not Forever; References; Glossary; About the Author; IndexAn up-close look at the fixed income market and what lies ahead Interweaving compelling, and often amusing, anecdotes from author Simon Lack's distinguished thirty-year career as a professional investor with hard economic data, this engaging book skillfully reveals why Bonds Are Not Forever. Along the way, it provides investors with a coherent framework for understanding the future of the fixed income markets and, more importantly, answering the question, ""Where should I invest tomorrow?"" Bonds Are Not Forever chronicles the steady decline in interest rates fromBondsFixed-income securitiesInvestmentsCapital marketBonds.Fixed-income securities.Investments.Capital market.332.63/23Lack Simon1962-968727MiAaPQMiAaPQMiAaPQBOOK9910139006603321Bonds are not forever2282157UNINA