Bonds The Unbeaten Path to Secure Investment Growth
April 30, 2009 by Stocks And Bonds · Leave a Comment
Bonds The Unbeaten Path to Secure Investment Growth
In “Bonds: The Unbeaten Path to Secure Investment Growth”, two veteran investors expose the myth of stocks’ superior investment returns and propose an all-bond portfolio as a sure-footed strategy that can ensure results. The book, an expanded and updated version of “The Money-Making Guide to Bonds”, is designed to educate novice and sophisticated investors alike and serve as a tool for financial advisers as well. It explains why bonds can be the right choice and how to use them to achieve financial goals. It presents a broad spectrum of bond-investment options, describes how to purchase bonds at the best price, and, most important, shows how to make money with bonds.
The wealthiest investors and financial advisers use the bond strategies outlined in this book to maximize the the return on their portfolios while providing security of principal. The strategies can help you determine how to use bonds in your portfolio and take control of your financial destiny. You’ll be playing it smart while playing it safe.
Earn 15 hours of credit toward your CFP Board requirement.
User Ratings and Reviews
5 Stars easy way to start investing in bonds
I thought bonds would be a way to diminsh risk in my portfolio. The book makes a case for an all bond portfolio. Richelson manages money for the rich, but gives us a strategy of getting into bonds. I think richelson is very conservative. He leads you to the safe bonds. There are serious pitfalls out there. The average stock broker knows nothing about bonds and will likely give us bad advice. The book lists great sites for investing in bonds and making sure that you are buying at a competative prices. See investinginbonds.com- a great nonprofit site listing the current market in bonds. (I like using Vangard brokerage- you can see the various bond issues that are being offered) The main weakness of the book is how to divide your portfolio into corporate bonds, munis, TIPS, CD’s etc. He does give strategies during high inflation or deflationary situations. This book has alot experience behind it. Richelsons did a tremendous job of demystifying an important part of portfolio that is deliberately ignored by brokers. this is a must read.
5 Stars Bonds: A Survival Kit
If you expect to earn most of your retirement funds from your work rather than from investing in the stock market, Bonds–The Unbeaten Path to Secure Investment Growth, is for you.
Hildy and Stan Richelson have told clients for years that they will earn more from a portfolio of bonds rated A or higher than from equities. Today’s markets reinforce their position, but the book is worthwhile at any time, under any market conditions.
It is totally readable, with clear explanations of how bond markets operate, concise descriptions of different bonds and the relative merits of each bond for your objectives. Read it cover-to-cover, then keep it handy as a reference on every bond you are likely to encounter–or for those moments when you just can’t remember how TIPS adjust for inflation.
4 Stars A great way to sleep well at night
As a seasoned bond investor who has successfully followed many of the principles outlined in this book, I found the book to make a powerful case for avoiding the pitfalls of stock market investing altogether. The first few chapters, especially, highlight how investors have been lulled into expecting unrealistic long-term stock market returns and how adhering to market myths (e.g., stock market risk decreases over time) can lead to disasterous results, or at least loss of peace of mind. Despite what the financial press would have us believe about the imperatives of stock market investing, the Richelsons successfully refute that supposed requirement for achieving investing ’success.’
One of the big take-away messages from this book is that bond investing is not as exciting nor potentially quite as profitable as stock market investing, but the results can be much more predictable and investment losses can be minimized or virtually eliminated when very high quality bonds are held to maturity. Considering the record of bonds versus stocks over the past decade, the markets certainly have confirmed the authors’ thesis.
Another big take-away message is that a person can learn to assemble and manage his/her own bond portfolio; it don’t have to require professional help. The Richelsons do a great job pointing out that investing in bond funds is not the same as buy-and-hold bond investing; the financial industry does a good job of confusing people about this — to their advantage.
I would have liked the book to give more treatment to the valuable role of stable value funds for 401(k)’s, 403(b)’s, etc. as alternatives to stock and bond funds; this would have saved people lots of pain in the current market turmoil. I would have also liked them to make their case better for investing in TIPS; after all, TIPS are essentially a bet against the Federal Reserve’s ability to control inflation rates over at least several years. And the book does not make a big enough issue of how investing in TIPS entails reinvestment risk, unlike zero-coupon bonds. It would have also been helpful for the book to pay more attention to profiting from positive-sloping yield curves by ‘riding down’ the short end of the yield curve (e.g., selling Treasury bonds fairly close to their maturity dates, once their yields have dropped, and replacing them with higher-yielding longer-term issues); this is a common strategy used by professionals. Finally, I found some of the information in the book in need of updating (e.g., the ratings of municipal bond insurers and a discussion of their real significance now for bond investors).
Overall, this is an incredibly resourceful book once readers can let go of the myth that stocks are the only way to build wealth or to deal with inflation. In a sense, to follow the all-bond approach that the Richelsons suggest requires a strong sense of independence, an ability to see past conventional wisdom, and an ability to ignore much of the promotional chatter that lures people into stock investing.
5 Stars Bonds looking good now aren’t they?
I wonder what Mr. Sczech thinks now? Bonds can be exciting, if you trade them and dabble in ‘at risk’ or junk bonds, however, most people buy bonds for steady income and principal preservation. Inflation can hurt you, but so can the market (see last 12 months). By laddering, if inflation goes up, you will invest future redemptions at higher rates. TIPS or I-Bonds can give you inflation protection as well. With a nice bond portfolio, you can take the interest payments and reinvest those into stocks, real estate or whatever else you want. This is a great book!
5 Stars Powerful advice
More investors probably wish they had read this book before the current economic crisis and stock market collapse. Few in the investment community give the honest advice given in the book. I applaud the authors for their sincerity. I have already purchased 3 additional copies to give away to friends who would benefit from the book’s advice.
Trading Natural Resources in a Volatile Market featuring commodities energy expert Kevin Kerr
April 30, 2009 by Stocks And Bonds · Leave a Comment
Trading Natural Resources in a Volatile Market featuring commodities energy expert Kevin Kerr
Kevin Kerr’s unparallleled expertise in futures and commodities has made him a regular contributor to news outlets like CNN FM, CNBC and CBS Marketwatch, where he has been quoted in over 500 articles.
Hammermill 12254 9 Color Copy Cover Stock 60 lb 8 1 2 x 11 Photo White 250 Sheets pack
April 29, 2009 by Stocks And Bonds · Leave a Comment
Hammermill 12254 9 Color Copy Cover Stock 60 lb 8 1 2 x 11 Photo White 250 Sheets pack
Hammermill paper is made to meet the demands of high-speed copiers, color copiers, laser printers, ink-jet printers and offset presses.
Trading Options For Dummies For Dummies Business and Personal Finance
April 29, 2009 by Stocks And Bonds · Leave a Comment
Trading Options For Dummies For Dummies Business and Personal Finance
Thinking of trading options, but not sure where to start? Trading Options For Dummies starts you from the beginning with clear, step-by-step advice on how to use top option strategies to reduce your risk while boosting your income and enlarging your retirement portfolio with index, equity, and ETF options.
This plain-English guide explains the common types of options and helps you choose the right ones for your investing needs. You find out how to weigh option costs and benefits, combine options to reduce risk, and build a strategy that allows you to gain no matter what the market may bring. You’ll learn the basics of market and sector analysis and what to look for when trying out a new option strategy. You’ll also find what you need to know about options contract specifications and mechanics. Discover how to:
- Understand option contracts and orders
- Determine and manage your risk
- Guard your assets using options
- Trade options on securities exchanges
- Protect your rights and satisfy your contract obligations
- Target sectors using technical analysis
- Minimize potential losses and optimize rewards
- Map out your plan of attack
- Limit your downside when trading the trend
- Combine options to limit your position risk
- Benefit from exchange traded funds
- Key in on volatility for trading opportunities
- Capitalize on sideways movements
Trading options is serious business. Trading Options For Dummies gives you the expert help you need to succeed.
User Ratings and Reviews
1 Star Don’t waste your money on this book!
it’s a total SCAM for dummies!
I bought this book over Amazon a week ago, thinking it would help me understand what options trading is all about. just a simple book you know, the kind that you read in the subway and finish in less than three hours, to give you a global idea about the subject and explain where things come from, to make you UNDERSTAND, putting it in a nutshell.
The book complicated my life and made me question my IQ level, until I did a thorough search online and finanlly realized that NEGATIVE reviews were countless! Even Gordon Gekko of Wallstreet movie will find it HARD to understand a single paragraph of this book. What are all those complicated financial jargons about?!!! the author assumes that the reader owns brokerage house in wallstreet or something!
he doesn’t take into account hundreds of readers who know nothing about the subject! Look how he defines “options” on page 10 of his book, under “understanding options” title, and I quote:
“options are financial instruments that derive their value from another underlying asset or
financial measure, because options come in two forms, calls and puts, adding them to your current
investing and trading tools allows you to benefit from both bullish and bearish moves in either
underlying you select. you can do this to limit your total assets at risk or to protect an
existing position. etc.. ”
I think it’s the publishers’ fault not the author’s. it DEFINITELY shouldn’t be placed in a Dummies section. The book fails miserably in delivering what the title promises. Never once in this book will you see a walk through on how to buy a call, how to sell the option, etc, not even one example in numbers on vertical spreads for instance. Verrrrrrrrrry poorly constructed and makes you run in circles.
Now usually I don’t leave feedbacks after buying my books, but this time I felt really ripped off my money by eating the bait of a misleading book title, and I’m totally dissatisfied 
1 Star Should be called “Completely Useless Trading Options Book for Dummies”
OK…any time I see a book with “For Dummies” in the title, I assume it is a “Beginner’s” book. This author clearly wrote a different book. While the information in this book is probably accurate and useful to those with options experience, it is absolutely useless to anyone with no experience.
I admit it…I’m a “Dummy”…who was looking for a book that would walk me through the basics. You know, “square one” kinda stuff. With that in mind, I purchased this book. After all, that’s what the title suggests…right?
So, my suggestion to anyone who is looking for a real beginner’s book on options is to stay clear of this one. It’s a complete loser as it fails miserably in delivering what the title promises.
It may be a great book for those with experience…but, what would I know ? Like I said, I’m a “Dummy”.
Bottom line…don’t waste your money.
3 Stars May be your first book on Options
This book assumes that the reader already have familiarity with stocks, and would like to move further, to options. The author doesn’t take into account the fundamental analysis of the underlying security, however, there is a chapter about the technical analysis. In my point of view, it is a drawback: a reader already familiar with the stock market may be aware of the technical analysis, so either both technical and fundamental need to be covered or none.
The book covers three types of options: stock options, index options, and ETF options. There is a separate chapter devoted to ETFs, but a reader already familiar with a stock market will get no benefit from this chapter.
The book is printed with quite a large font have quite much space around the text, so it is quick to read. This may be a good introductory book to options. It is pretty basic and easy to understand, however, it fails to address an important technique of selling puts as a way of buying the underlying security. Warren Buffett obtains most of his stock holdings through selling puts. He got most of his Coca-Cola Holdings this way, and, recently, Burlington Northern Santa Fe.
If you need a much deeper book on options, I would recommend “The Options Course” by the same author. It doesn’t have the drawbacks above mentioned, very friendly and easy to understand, although it is a much lengthier read.
2 Stars This Book is Too Complex for Dummies
I wanted a book which would explain buying and selling options in a thorough way for someone who knew very little about options. This is not the book.
The author seems to have the intent to throw in as many complex terms without every explaining the simple things. Never once in this book is a walk through through on how to buy a call, how to sell the option, or on how to exercise the underlying contract. The same goes for simple puts.
2 Stars ADHD writing style
I wanted something that took me from 0 to 60 in a couple of hours, to explain options in plain english. This book goes from 20 to 120 then back to 40 and up to 80 then back to 10, very poorly constructed and organized.
(My review for Dummies: This book is difficult to follow, jumps around a lot, and rarely satisfies the curiousity at hand)
Option Spreads Generating Exceptional Returns with Tony Ciccone Options Trading
April 28, 2009 by Stocks And Bonds · Leave a Comment
Option Spreads Generating Exceptional Returns with Tony Ciccone Options Trading
Widely associated with a high risk level, options are often a case of concern when it comes to trading. By taking a closer look at them, however, their flexibility may actually work in your favor.
Options can be used to structure an arsenal of diverse strategic positions many of them with a very high probability of success and a limited chance of risk. Tony Ciccone, noted investment advisor and Managing Director of OptionVue Capital Management, shows you how to put together a number of these high-probability trades. Get the hang of legging in and out of combination trades! Accompanied by real-world examples, this presentation can help put you on your way to successfully carrying out limited-risk spreads and combination positions.
Key points of this powerful session include:
–News, earnings, emotions, and other factors that drive shifts in volatility
–Using percentile rankings to evaluate current volatility levels
–Structuring strategies to put time decay on your side
–A quick overview of Black-Scholes and other option-valuation models
–Using calendar spreads to profit from horizontal volatility skews, and more.
Options are extremely versatile vehicles you only have to know how to benefit from them. By putting into use Ciccone’s invaluable knowledge and experience, you will be able to see options in a different light - one where managed risk and higher probability trades are the keys to success.
Hammermill Color Copy 80 lb 8 1 2 x 11 Inch Photo White Cover Stock 250 Sheets 12002 3
April 28, 2009 by Stocks And Bonds · Leave a Comment
Hammermill Color Copy 80 lb 8 1 2 x 11 Inch Photo White Cover Stock 250 Sheets 12002 3
Colors pop on this super bright, ultra smooth surface. This cover weight stock delivers vivid results to provide excellent impressions. The brightness and shade coordinate with Hammermill Color Copy Paper to ensure your documents look consistently great from start to finish. Specifically formulated for color copiers. Guaranateed for use equipment that accepts cover weight papers.Acid-free for longer lasting documents. 80 lb. 98 GE brightness.
Liars Poker Rising Through the Wreckage on Wall Street
April 28, 2009 by Stocks And Bonds · Leave a Comment
Liars Poker Rising Through the Wreckage on Wall Street
As described by Lewis, liar’s poker is a game played in idle moments by workers on Wall Street, the objective of which is to reward trickery and deceit. With this as a metaphor, Lewis describes his four years with the Wall Street firm Salomon Brothers, from his bizarre hiring through the training program to his years as a successful bond trader. Lewis illustrates how economic decisions made at the national level changed securities markets and made bonds the most lucrative game on the Street. His description of the firm’s personalities and of the events from 1984 through the crash of October 1987 are vivid and memorable. Readers of Tom Wolfe’s The Bonfire of the Vanities ( LJ 11/15/87) are likely to enjoy this personal memoir. BOMC and Fortune Book Club selection.
- Joseph Barth, U.S. Military Acad . Lib., West Point, N.Y.
Copyright 1989 Reed Business Information, Inc.
User Ratings and Reviews
5 Stars They made the mortgage backed securities
Michael Lewis’ story of investment banking in the 1980s deserves it classic status.
He writes about the investment bank Salomon Brothers from 1980 to 1987. The first years of Lewis’ (nonfictional) story the bank does tremendously well, growing to the largest investment bank on Wall Street.
This fantastic growth is due mostly to the bond trading department. The new monetary policy paradigm, introduced by Fed chairman Paul Volcker, means interest rates vary wildly. That opens the door to trading opportunities.
In 1979 Lew Ranieri is made head of the mortgage operations of Salomon. He hardly makes any money before the Congress gives tax incentives to the savings and loans, if they sell their mortgages, in 1981. The development of the mortgage securities market is vividly described, and very interesting to read today.
From 1985, Salomon gets into trouble. The cunning Michael Milken makes junk bonds the new fad, and steals customers and traders away from Salomon.
Michael Lewis, the author, quits in 1988, and that ends the book. Salomon goes on until it is acquired by Travelers and then Citigroup in 1998.
Liar’s Poker is easy and fun to read, despite being accurate and rather specific on many issues of bond trading. I would recommend it to anyone interested in the development of modern finance. It made me understand the crisis of 2009 better.
4 Stars Peeling a Banana
I am only half the way through the book and I have learned more about trading than the past 20 years. Like everyone I believed in the orderliness of the market. This book gives you great insight into the large trading companies like Salomon Brothers and the practices of the mortgage market. You will walk away with your head shaking. Incredible book.
Marty Lenow
5 Stars Informative and entertaining
Great read and good inside look at Wall Street in the 1980s. Haivng just finished Barbarians at the Gate (which I also highly recommend), I was searching for a similar read. An attorney for the RJR Special Committee recommended Liar’s Poker as a great view inside. He was dead on.
4 Stars First-ever financial thriller - Historic
Liar’s Poker goes down in history as the first-ever “high financial thriller” of the non-fiction variety. The first fiction thrillers were Zero Coupon (1993) by Paul Erdman and my own Lost Trust: The Great Credit Crisis (see 25-Feb-09 PR: http://www.mmdnewswire.com/book-lost-trust-author-lang-gibson-4662.html). When just a kid in college, I remember my godfather giving Liar’s Poker to me for Christmas, and it was the book that first got me excited to work in the institutional bond side of the business (1990-2008). Despite Michael’s brilliant marketing abilities and warnings about Wall Street greed (as well as my own efforts to warn the relevant parties about subprime CDOs), we are now sadly witnessing the quick evaporation of Lewis’s bond business (along with the economy). Some forces are too powerful to override.
While Liar’s Poker does not explain brilliant things about Wall Street that you cannot learn from reading the news, it teaches the material in a far friendlier fashion. Lewis is able to translate his fantastic sense of humor onto paper better than most (why he was a good salesman for his short stint at Solly). As for the relevance of the book’s material to the present day, there is a huge difference that many customer reviewers are missing. Lewis wrote about the creation of mortgage-backed securities (MBS), which slice and dice interest-rate-sensitive prepayment-risk. By contrast, subprime ABS tranche out credit risk, a far less forecastable and riskier event, especially with no economic data on national home price declines. Even more, the subprime ABS were packaged into my product, subprime ABS CDOs. That extra leverage from the extra layer of securitization (and the higher risk from subprime defaults vis-a-vis prepayment risk) was the medicine it took - along with absent regulation, where the Govt feigned the opposite - to blow it all up.
5 Stars This explains a lot!
This is a prophetic story. Michael Lewis is a gifted writer. The ethos of our "credit society" is revealed, in no uncertain terms. A must read for all.
Now’s time to judge your 401(k) funds (The Columbus Dispatch)
April 26, 2009 by Stocks And Bonds · Leave a Comment
Now what for your 401(k)? (New London Day)
April 26, 2009 by Stocks And Bonds · Leave a Comment
First quarter 401k results a downer, now what? (The Times of Northwest Indiana)
April 26, 2009 by Stocks And Bonds · Leave a Comment
