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Synopsis:
You've heard the advice of experts for years on the need to diversify into bonds. But no single source of information has been available that uniformly describes bonds, compares their relative strengths and drawbacks, and tells how to select and profit from buying them-until now. Registered investment advisers Hildy and Stan Richelson have written the authoritative, yet accessible, resource on the subject. Over 35 different types of bonds and 20 types of bond funds are described, highlighting the specific advantages, risks, and tax implications of each. This book also explains how to allocate bonds within a portfolio and includes specific strategies for reducing taxes and increasing income.
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Jacket Description:
"The Money-Making Guide to Bonds is a clear and comprehensive road map for the novice and professional investor alike. This book is required reading for those who want to take charge of their financial destiny."
John B. Brynjolfsson
Manager, PIMCO Real Return Bond Fund
"This is an excellent book. All investors, investment advisers, and their representatives should include this book among their reference tools."
Paul H. Frankel
Senior partner, Morrison & Foerster LLP
"The book's strategies for buying and selling bonds are very valuable in today's unsettled markets."
Kevin Adler, MBA
Publications editor, NAPFA
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Table of Contents:
Part I: Bond Basics
Chapter 1: The Evolution of a Bond:
From a Verbal IOU to an Electronic Entry
Evolving in Early History
Debuting in Colonial Times
Developing after the American Revolution
Entering the Twentieth Century
Changing Through the Latter Twentieth Century
Metamorphosing in Recent Times
Chapter 2: The Life of a Bond: How It Is Created, Issued, Priced, and Traded
By Way of Background
Preparing a Bond
Rating a Bond
Setting a Coupon Rate
Launching a Bond
Understanding Risk
Determining a Bond's Yield
Pricing a Secondary Market Bond
Part II: Bond Categories
Chapter 3: U.S. Treasury Securities
U.S. Treasury Notes and Bonds
U.S. Treasury Bills
STRIPS
TIPS
Chapter 4: U.S. Savings Bonds
Series EE Savings Bonds
Series HH Savings Bonds
Series I Savings Bonds
Chapter 5: U.S. Agency Debt Securities
Fannie Mae and Freddie Mac
Farm Credit System
Federal Home Loan Bank System
Financing Corporation
Resolution Funding Corporation
Student Loan Marketing Association
Tennessee Valley Authority
Federal Agricultural Mortgage Corporation
Chapter 6: U.S. Agency and Other Mortgage Securities
Mortgage-Backed Securities
Collateralized Mortgage Obligations
Chapter 7: Municipal Bonds
General Features
Risk Features
Ratings and Other Security Enhancements
Mechanics of Purchasing Munis
Taxable Status of Munis
Taxable Municipal Bonds
Private Activity Bonds
Tax-Exempt Bonds
General Obligation Bonds
Revenue Bonds
Education Bonds
Entertainment Industry Bonds
Health Care and Hospital Bonds
Housing Bonds
Public Power Bonds
Tobacco Bonds
Transportation Bonds
Water and Sewer Bonds
Chapter 8: Corporate and Junk Bonds
General Considerations
Key Categories of Corporate Bonds
Corporate Medium-Term Notes
Corporate Retail Notes
Corporate High-Yield Bonds: AKA Junk Bonds
Corporate Convertible Bonds
Chapter 9: Bond Look-Alikes
Bank Certificates of Deposit
Broker Certificates of Deposit
Single Premium Immediate Fixed Annuities
Deferred Fixed Annuities
Nonconvertible Fixed-Rate Preferred Stock
Part III: Bond Purchase Options
Chapter 10: The Self-Directed Approach: How to Buy Individual Bonds
Buying Online
Choosing a Broker
Evaluating Bond Prices
Chapter 11: The Managed Approach: How to Choose among Bond Funds
Checking the Costs, Hidden and Unhidden
Classifying the Funds
Unit Investment Trusts
Closed-End Funds
Exchange-Traded Bond Funds
Open-End Mutual Funds
Understanding the Portfolio Types
Tax-Exempt Funds
Taxable Funds
Choosing a Bond Fund
Part IV: Bond Investment Strategies
Chapter 12: Asset Allocation: How to Fit Bonds
into a Portfolio That's Best for You
Allocating Your Assets
Comparing Stocks and Bonds
Selecting Bonds That Meet Your Needs
Conservative Investments
Balanced Investments
Speculative Investments
Reevaluating Your Portfolio
Chapter 13: The Maximization of Profits:
How to Make the Most Money from Investing in Bonds
Knowing When to Buy and Sell
Investing for Tax Advantages
Investing by Risk Tolerance
Investing for Income Needs Appendix: Useful Websites
Notes
Index
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