Investing in Municipal Bonds: How to Balance Risk and Reward for Success in Today's Bond Market - Hardcover >
/ Investing in Municipal Bonds: How to Balance Risk and Reward for Success in Today's Bond Market - Hardcover

Investing in Municipal Bonds: How to Balance Risk and Reward for Success in Today's Bond Market - Hardcover

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by Philip Fischer (Author)

Maximize profits with the perfect balance between risk and reward

Municipal bonds have traditionally given investors a reliable investment while providing state and local governments with an essential tool for funding public infrastructure projects. Now, the threat of municipalities defaulting and dramatic changes to the muni market's fundamental operations have created an attractive hotbed of opportunity for today's top institutional investors.

Investing in Municipal Bonds is the retail investor's road map to the lucrative market that is fueling the digital and physical highways of the future.

Only Dr. Philip Fischer can offer such a brilliantly practical amalgam of big-picture financial theory and nuts-and-bolts bond calculations. His crystal-clear explanation of the muni market covers every aspect, including the various "personalities" and traits of different types of bonds. His hands-on strategies for earning more from your money will keep this book at your fingertips as you customize a profitable municipal bond portfolio to achieve your financial goals.

Political and business leaders as well as financial professionals seek Dr. Fischer's knowledge and firsthand insights into municipal securities, from day-to-day trading to milestone events like the 2008 financial crisis.

Investing in Municipal Bonds shows you how it's done on Wall Street, providing a wealth of pertinent examples from the real world. You can rely on this powerful guidebook for the know-how and skill set you need to confidently:

  • Invest in fixed-rate and variable-rate bonds, including Variable Rate Demand Obligations (VRDOs)
  • Identify different types of bonds and determine how they will be repaid
  • Execute municipal bond-yield calculations
  • Navigate the derivatives market, including LIBOR interest-rate swaps
  • Weigh the benefits of taxable municipal bonds
  • Research municipal securities using the online database of the Municipal Securities Rule Making Board (MSRB)

Bond yields will eventually rebound from these historic lows and bring increased risk. Investing in Municipal Bonds will give you the knowledge you need to adjust your risk and balance profi t for continued success toward your financial goals.

Praise for Investing in Municiple Bonds:

"In addition to an accessible discussion of this unique market's financial structures, Fischer provides the historical context for why the market evolved the way it did--and how that history may influence municipal bond investments in an era of slow economic growth and rising costs for retirees."
--MICHAEL STANTON, Publisher, The Bond Buyer

"If there were a graduate program in Municipal Finance, Dr. Fischer's treatise would quickly climb to the top of the syllabus."
--JAMES T. COLBY III, Senior Municipal Strategist/Portfolio Manager, Van Eck Global

"Dr. Fischer brings a 'what you need to know' approach to the novice and the experienced practitioner alike. He poignantly relates how the very nuanced market structure influences and prices this market. Even with my over 25 years in the business, this book earns a trophy spot on my muni reference shelf."
--JOSEPH CAMPAGNA, Senior Vice President, BayernLB, Financial Institutions & Sovereigns

"A well-written, thorough, and meticulous primer to the history, the instruments, and the segments that comprise the municipal bond market."
--PROFESSOR JOHN CHALMERS, Abbott Keller Distinguished Research Scholar, Associate Professor of Finance, Charles H. Lundquist College of Business, University of Oregon

"If you would like to learn more about municipal bonds so that you know how to check off each item on the checklist, I highly recommend buying Investing in Municipal Bonds."
--DAVID WARING, LearnBonds

Author Biography

Dr. Philip Fischer is Managing Director, Municipal Bond Research and Global Indices at Bank of America Merrill Lynch. His areas of expertise include fixed income, especially municipal bonds, focusing on economic and market analysis.

Number of Pages: 256
Dimensions: 0.94 x 9.28 x 6.32 IN
Publication Date: January 08, 2013
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