This is a comprehensive volume that covers a complete array of traditional and alternative investment vehicles. This practical guide provides a comprehensive overview of traditional and alternative investment vehicles for professional and individual investors hoping to gain a deeper understanding of the benefits and pitfalls of using these products. In it, expert authors Mark Anson, Frank Fabozzi, and Frank Jones clearly present the major principles and methods of investing and their risks and rewards. Along the way, they focus on providing you with the information needed to successfully invest using a host of different methods depending upon your needs and goals. Topics include: equities, all types of fixed income securities, investment-oriented insurance products, mutual funds, closed-end funds, investment companies, exchange-traded funds, futures, options, hedge funds, private equity, and real estate. It is written by the expert author team of Mark Anson, Frank Fabozzi, and Frank Jones. It includes valuable insights for everyone from finance professionals to individual investors. Many finance books offer collections of expertise on one or two areas of finance, but "The Handbook of Traditional and Alternative Investment Vehicles" brings all of these topics together in one comprehensive volume
Preface. About the Authors. CHAPTER 1: Introduction. Risks Associated with Investing. Asset Classes. Super Asset Classes. Strategic vs. Tactical Allocations. Efficient vs. Inefficient Asset Classes. Beta and Alpha Drivers. Financial Instruments and Concepts Introduced in this Chapter. CHAPTER 2: Investing in Common Stock. Earnings. Dividends. Stock Repurchases. The U.S. Equity Markets. Trading Mechanics. Trading Costs. Financial Instruments and Concepts Introduced in this Chapter. CHAPTER 3: More on Common Stock. Pricing Efficiency of the Stock Market. Stock Market Indicators. Risk Factors. Tracking Error. Common Stock Investment Strategies. Financial Instruments and Concepts Introduced in this Chapter. CHAPTER 4: Bond Basics. Features of Bonds. Yield Measures and Their Limitations. Interest Rate Risk. Call and Prepayment Risk. Credit Risk. Financial Instruments and Concepts Introduced in this Chapter. CHAPTER 5: U.S. Treasury and Federal Agency Securities. Treasury Securities. Federal Agency Securities. Financial Instruments and Concepts Introduced in this Chapter. CHAPTER 6: Municipal Securities. Tax-Exempt and Taxable Municipal Securities. Types of Municipal Securities. Tax-Exempt Municipal Bond Yields. Risks Associated with Investing in Municipal Bonds. Build America Bonds. Financial Instruments and Concepts Introduced in this Chapter. CHAPTER 7: Corporate Fixed Income Securities. Corporate Bonds. Medium-Term Notes. Commercial Paper. Preferred Stock. Convertible Security. Financial Instruments and Concepts Introduced in this Chapter. CHAPTER 8: Agency Mortgage Passthrough Securities. Mortgages. Mortgage Passthrough Securities. Types of Agency Mortgage Passthrough Securities. Prepayment Conventions and Cash Flows. Factors Affecting Prepayment Behavior. Prepayment Models. Yield. A Closer Look at Prepayment Risk. Trading and Settlement Procedures for Agency Passthroughs. Stripped Mortgage-Backed Securities. Financial Instruments and Concepts Introduced in this Chapter. CHAPTER 9: Agency Collateralized Mortgage Obligations. The Basic Principle of CMOs. Agency CMOs. CMO Structures. Yields. Financial Instruments and Concepts Introduced in this Chapter. CHAPTER 10: Structured Credit Products. Private Label Residential MBS. Commercial Mortgage-Backed Securities. Nonmortgage Asset-Backed Securities. Auto Loan-Backed Securities. Collateralized Debt Obligations. Financial Instruments and Concepts Introduced in this Chapter. CHAPTER 11: Investment-Oriented Life Insurance. Cash Value Life Insurance. Stock and Mutual Insurance Companies. General Account vs. Separate Account Products. Overview of Cash Value Whole Life Insurance. Taxability of Life Insurance. Products. Financial Instruments and Concepts Introduced in this Chapter. CHAPTER 12: Investment Companies. Types of Investment Companies. Fund Sales Charges and Annual Operating Expenses. Advantages of Investing in Mutual Funds. Types of Funds by Investment Objective. The Concept of a Family of Funds. Taxation of Mutual Funds. Structure of a Fund. Financial Instruments and Concepts Introduced in this Chapter. CHAPTER 13: Exchange-Traded Funds. Review of Mutual Funds and Closed-End Funds. Basics of Exchange-Traded Funds. ETF Mechanics: The ETF Creation/Redemption Process. ETF Sponsors. Mutual Funds vs. ETFs: Relative Advantages. Uses of ETFs. The New Generation of Mutual Funds. Financial Instruments and Concepts Introduced in this Chapter. CHAPTER 14: Investing in Real Estate. The Benefits of Real Estate Investing. Real Estate Performance. Real Estate Risk Profile. Real Estate as Part of a Diversified Portfolio. Core, Value-Added, and Opportunistic Real Estate. Financial Instruments and Concepts Introduced in this Chapter. CHAPTER 15: Investing in Real Estate Investment Trusts. Advantages and Disadvantages of REITs. Different Types of REITs. REIT Rules. Economics of REITs. Financial Instruments and Concepts Introduced in this Chapter. CHAPTER 16: Introduction to Hedge Funds. Hedge Fun
