The Complete Guide to Convertible Securities Worldwide (Wiley Finance)

Rating:
Summary: An in-depth explanation of a complex subject for investors
Review: This book should be on the desk of every serious equity investor. It covers several different types of convertible securities but concentrates on convertible bonds.
Although this is not a light read, it provides an in-depth coverage of the mechanics and math of the major types of convertible bonds - U.S domestic, US and non-US dollar euroconvertible, and non-US convertible bonds. It also touches on the subjects of convertible hedging and convertible bond arbitrage.
The book is filled with examples of both convertible bonds as securities as well as the calculations used by traders and investment managers to evaluate whether a particular convertible bond is a better investment than its underlying stock and why.
Every serious equity investor, from individual investors to investment professionals, can get something from this book.
Indivdiual investors will benefit from the basic explanation of what convertible bonds are, how they work, and many of the calculations they will need to evaluate convertible bonds as an investment.
Professionals will benefit from the thorough coverage of the mechanics of convertible bonds including trading and hedging strategies and calculations (through numerous examples), as well as of international, non-US currency, and multi-currency convertible bonds.
Although convertible bond hedging and arbitage trading are activities for the securities professional, an understanding of the basic principles covered in this book will make a better investor or trader of anyone who reads it.