Izzy Nelken – författare & böcker

Hedge Fund Investment Management

E-bok

PDF, Engelska, 2005

920 kr

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There has been a tremendous growth in the Hedge Fund industry in recent years. It is estimated that there are more than 8000 Hedge Funds in the US alone. They have grown in popularity since the bear market of the early 2000s which convinced many people that they cannot just own stocks outright or inside mutual funds. Most investors understand mutual funds. They understand that the manager selects stocks and buys them. They also understand why they made (or lost) money in their mutual fund investments. The same thing cannot be said about Hedge Funds which come in a variety of flavors. Even savvy investors are often hard pressed to explain the sources of return on their Hedge Funds. This book should be read by anyone who has invested in, or is considering an investment in, a Hedge Fund and also by anyone who is considering starting one. The book explains the different types of funds as well as covering the key issues in every type of Hedge Fund. This book covers the entire gamut of the Hedge Fund industry. The authors explain the different styles of Hedge Funds (e.g. market neutral, convertible bond arbitrage, fixed income arbitrage and many more) and include a summary for each style of fund. The book also explains what a "fund of funds is, and covers the recently introduced capital guarantees and describes the capital preservation concerns that are faced by investors.

Handbook of Hybrid Instruments

Convertible Bonds, Preferred Shares, Lyons, ELKS, DECS and other Mandatory Convertible Notes

AvIzzy Nelken

Inbunden, Engelska, 2000

1 586 kr

Skickas inom 5-8 vardagar

Hybrid instruments - essentially bonds with an equity component - are found in a multitude of guises. This generic heading encompasses a seemingly endless array of finance instruments, including convertible bonds, mandatory convertibles, reverse convertibles, preferred shares, ELKS, DECS and LYONs, Within each one of these instruments are found a wide range of variations and features. These include reset, negative pledge, screw and forced conversion clauses, as well as step up coupons, call schedules, call options with soft and hard protection, etc, The range of possibilities can seem bewildering, but it is this very flexibility which proves a huge attraction for investors, issuers and financial institutions. On the sell side companies issue these securities and corporate service departments advise on the type of options to include in them. On the buy side, investment managers seek to build portfolios with limited risk exposure using these securities and hedge funds utilize arbitrage opportunities between the convertible bond and the common share. The opportunities are endless but the seemingly labyrinthine complexities can prove daunting. The Handbook of Hybrid Instruments helps steer a clear path through the maze. Izzy Nelken has drawn together a team of experts to provide in-depth analysis of many o key issues that both sellers and buyers require in order to operate effectively and profitably. A general introduction is followed by specific information on key clauses and variations, valuation methods, the impact on a firm's value following the public issuance of convertibles, details on when an issuer should call a convertible and the impact of these provisions on the price, the difficult requirement of input data to make sense of the models, indexes and reset convertibles. Finally, a highly useful glossary is provided of all the key terms used in this field. An analytical CD is also provided with the book, containing sample software of ConvB++. This combines complex state of the art models with a simple, user-friendly interface to assess fair values prices and to hedge parameters of hybrid instruments. The Handbook of Hybrid Instruments is an indispensable explanatory and analytical tool for all professionals looking for the latest thinking on convertibles from some of the world's leading experts