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Rating: 
Summary: Great book in troubling times
Review: As of writing this the Dow Jones has dropped 117 points today. Investors need alternatives. Bonds can be just the answer Ms.Thau says. She dissects every type of bond and gives you a step by step guide on how to acquire the and which ones would appropriate for you. Her voice is very refreshing in a world gone stock crazy. She doesn't pull any punches. I found the appendix very helpful. The only draw back I have is the fact she doesn't mention Bond Futures indepth. For 11 years I have traded futures and written three books on the subject. Bond Futures are definitely an alternative to some of the expensive bonds and junk bonds (corporate) she mentions. Great book overall.
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Summary: A must read for fixed-income
Review: I highly recommend this book to anyone interested in bonds, or for those who wish to enter the financial services industry. I had a difficult time putting this book down; the content was amazing. Bonds are an important asset class to own, regardles of the current interest rates or stock market performance. You will gain a lot of knowledge either for your own informational needs or professional use.
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Summary: comprehensive review of bonds
Review: This book can help you make money. How? It reviews the history of spreads between Treasuries and Municipals, between Treasuries and Junk bonds, and between Treasuries and other types of bonds/securities. By buying the appropriate security when the spread is abnormally large by a wide margin, which admittedly may only occur once every ten years or so, I believe one could make a ton of money. An example would be to buy junk bonds when the spread between junk and treasuries exceeds 1200 basis points. Another example would be to buy municipals if their yield surpasses the treasury benchmark. Patience will be required, though, since, as the author points out, it is tough to make a killing in the bond market all the time (i.e. the market is usually highly efficient). The author also does a terrific job pointing out the different types of risk (reinvestment, inflation, currency, interest rates, credit, etc.) for all the different types of securities and duration of securities. She then tells you how to select a security appropriate for your needs given the risks. For example, if you don't want to worry about a rise in rates destroying the value of your bond, buy one that you can hold to maturity and collect at par. Better yet, buy one with a short duration. In conclusion, any well rounded financier needs to know about bonds--even Warren Buffet--the famous "stock picker"--invests a ton in bonds. This book is a great start to earning this skill.
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Summary: Almost Everything
Review: This book is an amazing compilation of explanations of all of the major bonds in the market. It lags the market in one major area. Credit derivatives which have internal financing and trade credit risk similar to bonds are not included. The credit risk of a bond is transferred in these derivatives. These off-balance sheet products round out bond portfolios and transfer the risk of bonds into collateralized debt obligations that mutual funds buy. No bond book is complete without discussing these products. To be fair, the credit derivatives market exploded in just the last 3 years, and synthetics (credit derivatives and total return swaps) now make up 70% of securitizations bought by bond funds. Tavakoli has written an excellent and entertaining book on these products: "Credit Derivatives" (Second Edition).
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Summary: An unbiased explanation of fixed income securities
Review: This book is more than just a primer on bonds and other fixed income securities. The author goes into great detail on each type of instrument as well as the IMPORTANT risks involved. The concept of "Interest risk" as opposed to "Credit risk" is worth the price of the book alone. The only negative is that the book was published in 1992, which missed out on the ending of the "Junk Bond" fiasco.
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Summary: Intelligent, comprehensive book
Review: This is a clear, thorough, comprehensive look at the world of bonds, starting with some general explanations and then going through each major category of bond in turn. The only problem is that the book is getting old and some of the examples and explanations are based on market conditions that no longer exist. However, the book is excellent and certainly stands the test of time.
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Summary: Highly Recommended!
Review: This is an accessible introduction to bonds by a financial professional whose first book - as unlikely as it may seem - was a study of Max Jacob, the French poet. The literary background of the author, Annette Thau, may account for her book's clear, easy-to-read style. Most authors who write about bonds tend to get lost in the complex mathematics and specialized jargon of the bond markets. Not Annette Thau. Whether you are an individual investor trying to balance your portfolio with bonds, or a student of finance looking for a more lucid explanation of the subject than you can find in your textbooks, we highly recommend this book to you.
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Summary: Outstanding Book
Review: Very thoroughly written using easy-to-understand layman's terms and minimal bond math.
Anybody who wants to learn bond terminology, some bond math, and the various types of debt securities and strategies should consider this book. I highly recommend it.
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Summary: Only Book On Bonds You Will Ever Need
Review: You should read this one even if you ultimately decide that bonds aren't for you. Investment curiosities like bonds and stock moving in opposite directions, how inflation is addressed in the bond market, how to purchase treasuries without a commission, what it may mean for the economy when long term bonds are returning a lower yield than short term securities, and the power of compound interest are just a few of the topics discussed in enough depth that you will probably enjoy a whole lot better understanding of the financial markets than ever before.
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