by Bruce Tuckman
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Product Description
Praise for Fixed Income Securities, Second Edition
"What distinguishes this book from many others on the subject is that Tuckman has skillfully combined intuitive rationale with mathematical analysis to give readers a clear and deep understanding of the market. Tuckman has written a comprehensive reference book that should be found on the desks of both seasoned practitioners and novices alike." Gerald Lucas, Senior Government Strategist, Director, Global Securities Research, Merrill Lynch
"This outstanding book offers a well-written and clear tutorial for many of the cutting-edge analytical techniques and models used in practice. Combines a wealth of institutional knowledge, practical tools, and realistic examples, while giving a clear understanding of the underlying theory." Francis Longstaff, Professor of Finance, The Anderson School at UCLA
"An excellent reference for anyone intending to bridge the gap between financial mathematics theory and the practice of financial markets." Marek Musiela, BNP Paribas
"This is an extremely readable book with a balance between technical detail and practical application. Unlike other books in the area, thorough and tightly knit chapters reflect Tuckman s unique background as a well-respected academic and market participant." Tony D. Kao, Managing Director, Global Fixed Income GM Asset Management
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Average Customer Review:
1 of 1 people found the following review helpful:
 Forget Fabozzi, indeed, 2008-01-19
To add to longhorn24's excellent detailed review,
a) This is not a book about term structure modeling, but Tuckman ofers a very effective, get-to-the-main-issues introduction.
b) Another reviewer has noted that he would buy the book for the four first chapters (discussing basic bond math) alone, and I agree. Even where the subject is familiar, Tuckman impresses with concise and to-the-point presentation, and his analytical approach, which makes Fabozzi look superficial.
PS. Be sure to consider the book by Martellini et al.
0 of 6 people found the following review helpful:
GREATEST BOOKSHOP, 2007-09-22
ITS VERY GOOD BOOKSHOP, BUT WHY BOOKS DELAYED I DONJ NOT RECIVED IT UNTILL NOW. YOU HAVE WOREST SHIPPED SERVICE
1 of 1 people found the following review helpful:
A must have for anyone in fixed-income capital markets, 2007-07-04
I have the 2nd edition and have found it to be ridiculously comprehensive. The text is well-written and organized (I find it better than the Fabozzi texts which usually have many different people contributing, therefore naturally being less fluid and organized). This is by far one of the best fixed-income books available right now--period.
The text is pretty heavy on quant material, however, it's written from a practitioner's perspective so I've found it to be very helpful at work.
3 of 4 people found the following review helpful:
 read this before going for it, 2007-04-24
This book gives basics of fixed income securities in a very intuitive way. It first explains building blocks for fixed income securities. I have studied these topics in pricing and finance theory, and then I bought this book. I couldn't imagine a better explanation in such a clear way for fixed income securities. I suggest this book to everybody who wants to understand the fixed income securities. I think it helps anybody who is interested in quantitative modeling fixed income securities and who is interested in trading such securities.
It first gives the basic background, the relative pricing of fixed income securities and fixed cash flows. It then explains the price sensitivity and hedging. The author has given a good explanation for term structure models. The last part of the book is dedicated to some securities: repo, forward contracts, interest rate swaps, eurodollar and fed funds, fixed income options, mortgage-backed securities and note and bond futures.
1 of 1 people found the following review helpful:
Just want to mention a mistake of the book, 2007-04-01
On page 116, formula 6.1, the price formula for a bond is actually for a semiannual coupon bond, not as stated on the book, for annual coupon bond.
As a consequence, the dv01, duration and convexity formula it states are for semiannual coupon bonds as well.
I think both Tuckman and Fabozzi's books have their own pros and cons. Tuckman's book touchs more on the trading, which is interesting. Although it could be less rigorous in terms of treating the formulas. I own both books.
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