The world’s #1 fixed income book, now with 21 all-new chapters
The Handbook of Fixed Income Securities occupies the top spot as the most authoritative, widely read reference in the global fixed income marketplace. First published in 1983, this comprehensive survey of current knowledge features contributions from leading academics and practitioners and has carved out a niche that cannot and will not be equaled by any other single sourcebook.
Now, the thoroughly revised and updated seventh edition gives finance professionals the facts and formulas they need to compete in today’s transformed marketplace. It places increased emphasis on applications, electronic trading, and global portfolio management, and features new chapters on topics including:
Emerging market debt
Credit risk modeling
And many more
Very broad in horizon, but lacks the depth
By A. Gupta - March 27, 2000
I used this book as a text for a graduate level "Fixed Income Analysis" course. This book covers almost all the fixed income financial instruments from plain vanilla bonds to interest rate derivatives. However, reading this book leaves the reader with a desire for more than just the peripheral knowledge, which is all this book offers. Theoretically, this book justfies its being called a handbook, but on the mathematical front, it stands absolutely nowhere. There are little or no examples used in the text even though the author touches base on the advanced topics sometimes. Any fixed income practioner, including me, will tell you that ONE JUST CANNOT LEARN FIXED INCOME CONCEPTS WITHOUT GRASPING THE MATH BEHIND THEM, and this book scores poorly in the quantitative analysis. Fixed income securities are extremely sensitive to interest rate fluctuations, and hence, it would be only sensible to present atleast a few chapters trying to explore the concepts used in the modeling of interest... read more
The sine qua non
By bibliomane01 - August 3, 2001
This book has been around for years and new editions are lapped up by fresh generations of bond geeks. You will find a copy on pretty much every fixed income desk in the industry (including mine). Why all the hoopla? Because there is simply no other book like it. Because it is simply the most comprehensive survey of the various fixed income markets in print. For a basic understanding of the structure and institutional aspects fixed income securities, Fabozzi is the inevitable first stop. All this being said, it is important to understand the book's weaknesses. There is relatively little depth in terms of analytics and if you want formulae you will have to look elsewhere. But for basic overviews, structural details and the orientation that is a precondition for deeper study, the Handbook is in a class by itelf.
Good but repetitive (collection of essays).
By W. O. Smith - June 10, 2005
This book probably tells you everything you need to know about bonds. Certainly, I was asked four 'interview' questions about bonds the other day and I could answer all 4 confidently after reading just the opening chapters.
However the length of the book works against it. It's so huge, Fabozzi hasn't written it all himself, rather, he's relied on a number of authors to contribute chapters.
This results in an uneven flow. After a chapter 5, a fairly complex chapter covering things like calculating the yield-to-maturity by combining all of a bond's cashflows, comes chapter 6, covering such basics as how to calculate a percentage return if you invest x dollars and get back y dollars 1 year later!
Another problem is that the book's got so huge, Fabozzi's even forgotten what's in it. For example, repos are covered in pages 295-301, and pages 1048-1054. However, the coverage is almost identical, word-for-word. One is clearly just a slightly edited version of... read more