LEADER 04643nam 2200697 a 450 001 9910139006603321 005 20200520144314.0 010 $a1-118-65970-8 010 $a1-118-65947-3 010 $a1-118-65960-0 035 $a(CKB)2550000001111866 035 $a(EBL)1441761 035 $a(SSID)ssj0000980729 035 $a(PQKBManifestationID)11632743 035 $a(PQKBTitleCode)TC0000980729 035 $a(PQKBWorkID)10969081 035 $a(PQKB)11670135 035 $a(DLC) 2013021086 035 $a(Au-PeEL)EBL1441761 035 $a(CaPaEBR)ebr10748674 035 $a(CaONFJC)MIL511758 035 $a(OCoLC)844775015 035 $a(CaSebORM)9781118659700 035 $a(MiAaPQ)EBC1441761 035 $a(EXLCZ)992550000001111866 100 $a20130523d2013 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aBonds are not forever$b[electronic resource] $ethe crisis facing fixed income investors /$fSimon A. Lack 205 $a1st edition 210 $aHoboken, N.J. $cJohn Wiley & Sons, Inc.$d2013 215 $a1 online resource (242 p.) 300 $aDescription based upon print version of record. 311 $a1-118-65953-8 311 $a1-299-80507-8 320 $aIncludes bibliographical references and index. 327 $aBonds 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 Now 327 $aChapter 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 Book 327 $aAn 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 Today 327 $aThe 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; Index 330 $aAn 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 from 606 $aBonds 606 $aFixed-income securities 606 $aInvestments 606 $aCapital market 615 0$aBonds. 615 0$aFixed-income securities. 615 0$aInvestments. 615 0$aCapital market. 676 $a332.63/23 700 $aLack$b Simon$f1962-$0968727 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910139006603321 996 $aBonds are not forever$92282157 997 $aUNINA