Naked Guide to Bonds ─ What You Need to Know-Stripped Down to the Bare Essentials

Professional investors have long understood the importance of bonds in a successful portfolio strategy. Now you can too.
That's because Wall Street bond expert Michael Brandes takes a unique approach to this complex subject—he makes it simple. In Naked Guide to Bonds: What You Need to Know, Stripped Down to the Bare Essentials, technical jargon and complicated subject matter are translated into a straightforward, easy-to-read style with plenty of examples. What's more, rather than writing an all-inclusive book on the bond market, Brandes uses his expertise to eliminate the information that is not relevant to individual investors. The result is a practical and succinct guide that empowers you to make informed investment decisions.
Naked Guide to Bonds is written so that each chapter builds upon the information that precedes it. That way you'll never be thrown for a loop. It begins with basic questions such as: Who issues bonds, and why? And how are bonds bought and sold? Then you'll learn about the structure of these securities and the characteristics that distinguish them from stocks.
Once you're armed with the fundamentals, you'll discover how inflation, interest rates, and changes in the economy impact bond prices. Naked Guide to Bonds also provides insights about different types of bonds, including those issued by the U.S. government and its agencies, municipalities, corporations, and international issuers. Most importantly, you'll understand how to identify the bonds that are most appropriate for you.
In the final sections, you'll determine how to:
Assess your risk profile and set goals
Construct a portfolio to meet your objectives
Implement a customized strategy
Evaluate individual bonds and mutual funds
Monitor and maintain your portfolio
Avoid the most common mistakes
Filled with helpful charts and informative "Bare Essentials" summary points at the beginning of each chapter, Naked Guide to Bonds provides an effective way to become a smart and successful bond investor. Take a look for yourself and you'll see how enjoyable and rewarding learning about bonds can be.

MICHAEL V. BRANDES is Director and Fixed-Income Strategist in the Investment Strategy Group at Smith Barney, a division of Citigroup. He is founding author of Bond Market Monthly, the firm’s flagship research publication for individual fixed-income investors. He also writes Citigroup’s widely popular A Stock Buyer’s Guide to Bond Investing and various research articles about fixed-income strategy. Michael earned a BA in English literature from the University at Albany (NY) and an MBA from Columbia University Business School in New York.

Preface.
Acknowledgments.
PART 1: WHAT YOU WANT TO KNOW.
Chapter 1. Why Bonds?
Chapter 2. Who Issues Bonds? And Why?
Chapter 3. How Are Bonds Bought and Sold?
Chapter 4. Why Buy Bonds Rather Than Stocks?
PART 2: ESSENTIAL PARTS.
Chapter 5. Price.
Chapter 6. Maturity.
Chapter 7. Coupon.
Chapter 8. Yield.
Chapter 9. Credity Quality.
PART 3: SIMPLIFYING KEY CONCEPTS.
Chapter 10. Why Bad News is Good News.
Chapter 11. Bond Prices and Interest Rates.
Chapter 12. Measuring Volatility.
Chapter 13. Armchair Economist.
Chapter 14. Evaluating Liquidity.
PART 4: MAINSTAYS OF THE MARKET.
Chapter 15. Treasury Securities.
Chapter 16. Agency Securities.
Chapter 17. Mortgage-Backed Securities.
Chapter 18. Corporate Bonds.
Chapter 19. Municipal Bonds.
Chapter 20. International Bonds.
PART 5: PERIPHERAL PLAYERS.
Chapter 21. Preferred Securities.
Chapter 22. Convertible Securities.
Chapter 23. U.S. Savings Bonds.
Chapter 24. Certificates of Deposit.
Chapter 25. Funds and Unit Investment Trusts.
Chapter 26. Money Market Funds.
PART 6: PUTTING IT ALL TOGETHER.
Chapter 27. Have an Informed Opinion.
Chapter 28. Establish a Framework.
Chapter 29. Diversification.
Chapter 30. Interpreting the Yield Curve.
Chapter 31. Managing Volatility.
PART 7: GETTING DOWN TO BUSINESS.
Chapter 32. Bond Strategies.
Chapter 33. Fund Strategies.
Chapter 34. Bonds, Funds, or Both?
Chapter 35. Preparing for changing Rates.
Chapter 36. Swaps and Total Return.
Chapter 37. What Not to Do.
Chapter 38. Practical Matters.
Wrapping Up.
Glossary.
Index.