Any true bond trader here? Or ex-bond trader?

F

Froglet

Hello,

I've been wanting to learn more about the fixed income side and realize the analytics are very diff't from equities.

May I ask a few question from people that are involved in this field? I understand a lot of this takes place at the institution, big money level. So if you are involved, please let me know.

Would like to read up more about it for personal development.

Thanks.
 
i use to hold pretty large corp.bonds portfolio(over 150 different positions). i'm qualified as a true bond trader? :)
i think you have to be more specific about what exactly are you looking for
 
Quote from Bob111:

i use to hold pretty large corp.bonds portfolio(over 150 different positions). i'm qualified as a true bond trader? :)
i think you have to be more specific about what exactly are you looking for
More...

Hi,

Thank you for your reply. I have thought about learning more about fixed-incomes. I guess my question is, where, what and how did you learn about advanced analytics in this area?

Particularly studies related to interest rate risk, duration, convexity, spreads, bond strategy, etc.

I'm willing to put in the time and read and don't plan on skipping anything.

Anything you can share, I want to learn. Right now, I'm reading up on bond basics. But realize I will eventually need to read up on basic strategy, and analytics of curves, etc.

Thank you for your help.
 
http://www.amazon.com/s/ref=nb_sb_noss?url=search-alias=aps&field-keywords=bonds+investing&x=0&y=0

buy a book or something..
i have no idea what are up to,but i use to hold them for very simple reason(it was the times when they actually paid decent interest) to bust performance of my account. most of them are <2 years till maturity,so there is not much of a strategy either. then the lehman fuck us all hard(i was able to recover about 25 cents on dollar),then my broker start messing with margin,then rates fall and after all that i give up on this shit. at current rates and after lehman to me -they are no better\safer than a common stock. actually -worse,because of the spreads and liquidity. talking about corporate bonds. that was my experience with bonds. we are currently in f**ed up world,completely irrational. impossible to predict what are our leaders will come up with..every day there is something new and unexpected..not sure what one can make out of these bonds..specially on retail level.
last time i checked my soft the rates are on junk is pretty much like on A rated..go figure..too much money floating around..we need some serious crash and burn event
 
my ex- colleagues used to worked at Deutsche Bank, they knew a thing or 2 about corporate bonds imo.
if i were you i would sign up for a bond newsletter at DB
pls take into account that i m not a corporate bond expert myself
 
Quote from Martinghoul:

There's a few book recommendations in the other forum. Just search and you will find. And I am not ex-.
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I have actually tried to search, but the results were hard to filter. By chance could you be a bit more specific? Do you mean for me to search this section?

Thanks.
 
Quote from Chuck Krug:

my ex- colleagues used to worked at Deutsche Bank, they knew a thing or 2 about corporate bonds imo.
if i were you i would sign up for a bond newsletter at DB
pls take into account that i m not a corporate bond expert myself
More...
I figured that someone wanting to trade bonds must definitely know something about them. I have questions here and there. I've been googling and referencing books, but I am just a bit confused w/ some concepts.

A lot of things seem like text book/calculation concepts that may or may not apply in the real world. I think it does, but I am trying to find that bridge.

Thanks.
 
Quote from Froglet:
I have actually tried to search, but the results were hard to filter. By chance could you be a bit more specific? Do you mean for me to search this section?

Thanks.
More...
No probs... Here are my recommendations from an old thread:

Quote from Martinghoul:
I always recommend three:
1. 'Fixed Income Securities' by Tuckman
2. 'Eurodollar Handbook' and 'Treasury Bond Basis', the two seminal texts by Burghardt
3. 'Understanding the Yield Curve' series of papers by Antti Ilmanen (old Solly papers)
More...
If you have specific questions, don't hesitate to ask (although maybe as a new thread in the relevant forum?).
 
Quote from Martinghoul:

No probs... Here are my recommendations from an old thread:


If you have specific questions, don't hesitate to ask (although maybe as a new thread in the relevant forum?).
More...

Do you understand bond duration on the general sense? I've googled this topic for a few weeks but the most difficult part is understanding the logic being applied to the mathematics.

I don't understand what is meant by the coupons being reinvested at a higher price and how it fits into the cash flow aspect.

When they say, higher coupon = lower duration, how are you able to rationally explain that?
 
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