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Naked Guide to Bonds
Book

Naked Guide to Bonds

What You Need to Know - Stripped Down to the Bare Essentials

Michael V. Brandes
Wiley, 2003

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Editorial Rating

7

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  • Applicable

Recommendation

In this very good beginner's guide to the bond market, author Michael V. Brandes addresses all of the fundamental questions clearly and concisely. Bond math can be daunting, but while the author includes a few equations for illustrative purposes, he clearly addresses his book to the general run of individual investors. The book, which has moments of surprising good humor, says right off the bat that bond investing can be dull in comparison to stock investing, not because the stakes are lower, but because the elements of personality and surprise are considerably more muted in the debt market than in the equity markets. getAbstract.com highly recommends this book, even though it is pedantic at times - a risk you take when you venture into the complex realm of bond investing.

Take-Aways

  • At some point, bonds have their place in every investor's portfolio.
  • Bonds are often a good choice when your goal is income and capital preservation.
  • The greatest risk to bond investors may be inflation, but several strategies allow you to address this risk.

About the Author

Michael V. Brandes is Director and Fixed-Income Strategist in the Investment Strategy Group at Smith Barney, a division of Citigroup. He is the founding author of Bond Market Monthly, the firm's flagship research publication for individual fixed-income investors.

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