Junk Bonds
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Investing In Junk Bonds
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Author : Edward I. Altman
language : en
Publisher: Beard Books
Release Date : 2003
Investing In Junk Bonds written by Edward I. Altman and has been published by Beard Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
Details the rise and operation of the high yield debt market as illustrated by the "junk" bond.
How To Make Money With Junk Bonds
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Author : Robert Levine
language : en
Publisher: McGraw Hill Professional
Release Date : 2012-05-18
How To Make Money With Junk Bonds written by Robert Levine and has been published by McGraw Hill Professional this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05-18 with Business & Economics categories.
Unearth a Gold Mine in the $1 TRILLION Junk Bond Market “Few experts in this area have been willing to share their inside knowledge with the outside world. None have done it as well and as simply and clearly as Bob Levine has done in his new book.” —Joel Greenblatt, bestselling author of The Little Book That Beats the Market “A great book by a great investor. . . . [I] recommend this book to everyone who wants to acquire some invaluable horse sense about investing in high yield bonds.” —Martin S. Fridson, author of How to Be a Billionaire “This is the best book ever written on high yield corporate bond investing. Destined to become an instant classic. . . .” —Jack Malvey, Chief Global Markets Strategist, Bank of New York Mellon Corp. "A first-rate introduction and navigation guide to the high-yield world." —Reading the Markets “This well-written and occasionally humorous tutorial on investing in speculative-grade corporate debt covers the essential aspects of high-yield debt. . . . As a basic introduction to the high-yield debt market, the book can’t be beat.” —The Financial Analysts Journal Do you think of the junk bond market as an arena of chaos, a financial Wild West, a place to avoid at all costs? In How to Make Money with Junk Bonds, a pioneer of the junk bond business gives you the insight and information you need to lay that fear to rest—so that you can generate unprecedented profits in this $1 trillion market. Robert Levine has the credentials to lead both individual investors and the professionals just getting started in the junk bond market. At Nomura Corporate Research and Asset Management, his junk bond funds substantially outperformed both high yield and S&P indices for more than 18 years—and in this book he explains the method he used to achieve such remarkable results. Helping you pick high yield bonds that have a low possibility of default. How to Make Money with Junk Bonds covers: The difference between stocks and bonds—and where junk bonds fit between them in the risk spectrum How to conduct a thorough credit analysis—the key to making money in junk bonds How to evaluate market conditions—and decide when to invest and when to sit on the sidelines Why you should hire a portfolio manager—and how to select the best one for your needs How to invest like a pro—using Levine’s personal, proven investing method The junk bond market isn’t the scary place it used to be. Critical information is easier (and cheaper) to obtain, and transparency is greater than it was in the market’s early days. How to Make Money with Junk Bonds gives you the tools to root out strong, forward-looking companies poised for growth and generate a level of profitability impossible to achieve in other markets.
Junk Bonds
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Author : Glenn Yago
language : en
Publisher: Oxford University Press
Release Date : 1990-11-15
Junk Bonds written by Glenn Yago and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-11-15 with Business & Economics categories.
Junk bonds burst into the nation's headlines as the fastest growing and most controversial financial instruments of the 1980s. Branded with an unflattering nickname, these high yield securities were tarnished in the public eye by waves of negative publicity. Critics cast the financiers and entrepreneurs who pioneered their use as symbols of a decade of greed and financial excess. By the end of the 1980s, the heyday of junk bonds had seemingly come to a close with the conviction of junk bond pioneer Michael Milken and the bankruptcy of Drexel Burnham Lambert, the brokerage that dominated the high yield market. But the controversy surrounding junk bonds continues. Now, in Junk Bonds, business professor Glenn Yago turns the tables on conventional wisdom about this new financial technology. He offers the first systematic examination of the facts about high yield securities. His analysis provides hard evidence that demystifies junk bonds and explodes many of the popular myths that surround them. Junk Bonds sheds light on the role of high yield financing in what Yago calls the democratization of capital. Before the advent of junk bonds, only companies with an "investment grade" rating--five percent of the 23,000 American companies with sales over $35 million--had access to long term capital. In effect, the author argues, 95 percent of American companies were denied the means to finance growth and business development. Yago shows how junk bonds changed all that, breathing life into thousands of American companies that had been shunned by the capital markets. His research demonstrates that these "junk" companies outperformed many Fortune 500 firms in job creation, product development, sales, and business innovation. The real contribution of junk bonds, according to Yago, was to improve the productivity and competitiveness of American business by restructuring companies in the wake of the corporate conglomerations of the 1960s and 1970s. His findings show that divestitures by companies financed with high yield bonds were not necessarily destructive. Many sold-off units flourished as independent enterprises at a time when numerous "investment grade" companies stagnated or closed plants or fired workers. This restructuring of corporate America has enabled businesses to compete in a changing international environment, benefiting managers, workers, stockholders, and investors alike. Junk Bonds provides readers with a scholarly analysis that shears away the hype and hysteria that often accompany rapid change. And at a time when Wall Street is under greater scrutiny than at any time since the Depression, this provocative study provides a timely and thoughtful contribution to the debate surrounding junk bonds.
The First Junk Bond A Story Of Corporate Boom And Bust
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Author : Harlan D. Platt
language : en
Publisher: Routledge
Release Date : 2019-07-25
The First Junk Bond A Story Of Corporate Boom And Bust written by Harlan D. Platt and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-25 with Business & Economics categories.
A case study of a company that exemplified the 80s.
Junk Bonds
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Author : Jane Tripp Howe
language : en
Publisher: Irwin Professional Publishing
Release Date : 1988
Junk Bonds written by Jane Tripp Howe and has been published by Irwin Professional Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Business & Economics categories.
Beyond Junk Bonds
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Author : Glenn Yago
language : en
Publisher: Oxford University Press
Release Date : 2003-03-27
Beyond Junk Bonds written by Glenn Yago and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-03-27 with Business & Economics categories.
Since financial myths exploded in the 1980s, the perspective of time creates a unique opportunity to update and expand the analysis begun in Glenn Yago's 1991 book, Junk Bonds: How High Yield Securities Restructured Corporate America (Oxford University Press). At the time of its publication, Junk Bonds drew controversial responses from the Federal Reserve and government agencies. In retrospect, the evidence clearly casts favorable light on the role of high yield securities. The research presented here demonstrates how financial innovations enabled capital access for industrial restructuring, capital and labor productivity gains, and improved global competitiveness. Enough time has now passed to allow this dispassionate empirical analysis to shear away the hype and hysteria that surrounded the Wall Street scandals, Washington controversies, and media frenzy of the time. Beyond Junk Bonds provides a one-stop data, reference and case study presentation of the firms and securities in the contemporary high yield market and the financial innovations that spurred growth in the nineties and will continue to finance the future. The high yield market incubated successive waves of financial technologies that now proliferate beyond junk bonds to all the dimensions and dynamics of global debt and equity capital markets. It charts the recovery of the market in the 1990s, the recent wave of fallen angels, distressed credits and defaults, and suggests how the high yield market will be recreated in the global market of the 21st century. It explicates the linkages between the high yield market, and other credit and equity markets in managing a firm's capital structure to execute its business strategy. The weakening of the U. S. economy in 2001 and the huge shock to Wall Street from the terrorist attacks of September 11 witnessed a historic increase in the yield to maturity of high yield bonds. Despite the volatility in the flow of funds to high yield mutual funds and occasionally sharp increases in non-investment grade debt yields, the asset class has been one of the best performing fixed income investments of the past decades. In fact, high yield bonds offer an attractive risk-reward ratio competitive with more traditional asset classes. Anyone active in corporate finance, financial institutions and capital markets will find this book a must read for interpreting and understanding the recent history both of the high yield marketplace and its interaction with private equity, public equity, and fixed income markets.
The Role Of Junk Bonds In Corporate Finance
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Author : Valea Adams
language : en
Publisher: GRIN Verlag
Release Date : 2017-01-04
The Role Of Junk Bonds In Corporate Finance written by Valea Adams and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-04 with Business & Economics categories.
Seminar paper from the year 2016 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,3, The FOM University of Applied Sciences, Hamburg, language: English, abstract: With this paper I would like examine the role of junk bonds in corporate finance. Starting with the term “Corporate Finance” in general, enlarging upon the objectives as well as long term and short term decisions of this field, the assignment continues by defining junk bonds and by giving an insight into the field of so called Fallen Angels. As the expansion of the junk bond market over the last decades has proceeded, I would like to take this occasion to provide background information about the changing role of high-yield bonds during the years. In the last chapter of this paper I will elaborate on the role of junk bonds in corporate finance and as part of the portfolio. Companies in the United States and elsewhere are increasingly turning towards the bond markets as a predominant source of corporate finance referring to changing market conditions. Various reasons such as merger and acquisition activities, capital expenditures, or working capital needs, have contributed to the fact that corporate entities have always needed funds. During the decades, high-yield bonds have survived a dramatic rise and fall in popularity and heated controversy to the limit. The leveraged finance market as a segment of the general credit market, involves issuers, usually considered more risky and with a lower credit ranking than its counterparts, as well as investors, expecting a higher rate on return potential. Investors are attracted to many forms of bonds, but one threat, concerning all leveraged finance investors is that they all have a comparatively high return objective. Many analysts still hold back from the analyst of junk bonds, which can be a result of the bond’s rating that is below the investment grade and therefore known as having very high investment risks. However, the potential rewards of this specific field of credit analysis are worth the time invested. A new emission volume has been pushed by debt financing activities and maintained by high investor demands, looking for yield in the consisting low interest rate environments.
Junk Bonds
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Author : iMinds
language : en
Publisher: iMinds Pty Ltd
Release Date : 2009
Junk Bonds written by iMinds and has been published by iMinds Pty Ltd this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.
"Junk bonds are bonds with a potential for high returns but which also come with many risks. A junk bond is like an IOU from an organisation that states the amount it will pay you back, the date it will pay you back and the interest it will pay you back. But what truly sets junk bonds apart from similar investments is the credit quality of their issuers. Whereas lenders of investment-grade bonds are financially reliable, a lender of junk bonds does not have a stable financial past"--Pub. website.
Junk Bonds
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Author : Lucy Wang
language : en
Publisher: Original Works Publishing
Release Date : 2008
Junk Bonds written by Lucy Wang and has been published by Original Works Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Drama categories.
Junk Bonds
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Author : Steven M. Rubin
language : en
Publisher:
Release Date : 1990
Junk Bonds written by Steven M. Rubin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Consolidation and merger of corporations categories.