Introduction to Option-Adjusted Spread Analysis
A detailed explanation of the thinking behind option-adjusted spread analysis - invaluable in assessing risk when buying and selling bonds.
Fixed-income investors buy and sell bonds. To do this well they need to understand how much risk they are taking and what they will earn from each security. Option-Adjusted Spread analysis (OAS) is the analytical tool used by successful investors to make these assessments.
Top investors swear by OAS, citing its superiority to yield analysis which can often produce erratic, disastrous results. Yet many hesitate to learn OAS because it is conceptually more difficult than yield analysis. This book, now in its third edition, solves that problem with its clear, short, plain-English presentation of the thinking behind OAS, which enables non-mathematicians to master the concepts quickly.
Updated and expanded to include a greater range of securities, this book will lead fixed-income investors to OAS mastery and consistently more profitable buy and sell decisions.
BOOK DETAILS :Hardback, 176 Pages, Dimensions 216 x 138 MM Language English.
A revised edition of a classic investment text, with over 50,000 copies in print, the book will allow fixed-income investors to master option-adjusted spread analysis and thusmake more profitable buy and sell decisions.
Tom Miller, who revised and expanded this edition, was head of the fixed income and derivatives sales team at Bloomberg L.P. in New York. He teaches at the New York University School of Continuing and Professional Studies. Prior to joining Bloomberg, he traded in the money markets for eleven years.