Managing a
Family-Fixed Income Portfolio
Aron S. Gurwitz
As the Dow continues its bumpy ride, many investors are looking for safe investments that
will let them sleep at night. Fixed income portfolios can help investors meet their
investment goals and avoid the turbulence of today's markets. Managing a Family Fixed
Income Portfolio fills a gap in the world of investment literature by providing a serious,
analytical understanding of bonds and the bond markets that is accessible to
non-specialists. In this exploration of a much-neglected Goldman Sachs Fixed Income
Research Strategist Aaron Gurwitz offers a blueprint for mastering fixed income portfolio
management for families. The book begins with the basic concepts of bond math, asset
allocation, and bond portfolio construction. Discussions of the workings of the global
bond market focus on the sectors of most interest to high net worth families, including
the U.S. municipal bond market, the eurodollar corporate market, and the global government
markets. The final section of the book covers more advanced topics related to the yield
curve, interest rate volatility, and fixed-income derivatives. The material will be of
interest both to financial professionals who work with wealthy families and to those
individual investors who wish to understand this important component of a balanced
portfolio.
Table of
Contents
About the
Author Preface
Parti
1.
Introduction
2.
Fixed-Income Basics
3. The Big
Picture: Portfolios, Returns, and the Role of Fixed-Income Assets
4. The Level
of Interest Rates and the Shape of the Yield Curve
5. Interest
Rates, Bond Prices, and Portfolio Performance
6. Currency
Exchange Rates and Interest Rates
7. Choosing
the Best Structure for the Family Bond Portfolio
Part II
8. Sectors of
the Bond Market: A Global Perspective
9. Sectors of
the Bond Market: A Domestic U.S. Perspective
10. Credits
and Credit Analysis
11. Operation
of the Public Bond Markets
12. Taxes and
the Fixed-Income Portfolio
13. Managing
a Cash Bond Portfolio
Part III
14. Leverage
and Short Sales in the Fixed-Income Markets
15. More
About the Yield Curve
16.
Fixed-Income Options
17.
Evaluating Bonds with Embedded Options
18.
Fixed-Income Derivatives
19. Putting
it All Together:
Building and
Managing a Private Fixed-Income Portfolio
Index
370 pages
