The books doesn t, and really can t, get into issues relating to data providers, prime brokers, and other execution related topics Yet it does cover almost every permutation of the strategy that you might find currently being implemented by a CA fund.
Overall, I think that this book provides an excellent grounding in the strategy, is a very engaging read, and will be a good reference as your understanding of the subject grows.
In closing, let me say this The chapter on the Greeks alone justifies the purchase of this book I have received questions from people wanting to know how I gained such depth of understanding in convertible capital structure arbitrage so quickly, and I do not hesitate to hand them this book Well, maybe there is some hesitation.
This is by far one of the best books on hedge fund strategies It s very practical, but also provides enough technical details Most other books on hedge funds just state some basic facts that everybody knows This book, however, provides enough details on one single strategy, convertible arb I would highly recommend this book to any serious Quant who wants to know about convertible arb.
Has to be one of the best books out there on converts although there are not many Generally though, a must read for those that are interested in the product.
The book serves as a worthwhile summary of all that is currently feasible in this arena Additionally, many techniques are sufficiently described so as to be made immediatly applicable As expected from a book of relatively short length, some of the techniques are not drawn out in sufficient detail The capital structure section, for example, is addressed in only a few pages.
Given the considerable number of tips and insights offered by the author, this book is worth reading despite the lack of detail in some sections.
Minimize Risk And Maximize Profits With Convertible Arbitrage Convertible Arbitrage Involves Purchasing A Portfolio Of Convertible Securities Generally Convertible Bonds And Hedging A Portion Of The Equity Risk By Selling Short The Underlying Common Stock This Increasingly Popular Strategy, Which Is Especially Useful During Times Of Market Volatility, Allows Individuals To Increase Their Returns While Decreasing Their Risks Convertible Arbitrage Offers A Thorough Explanation Of This Unique Investment Strategy Filled With In Depth Insights From An Expert In The Field, This Comprehensive Guide Explores A Wide Range Of Convertible Topics Readers Will Be Introduced To A Variety Of Models For Convertible Analysis, The Greeks, As Well As The Full Range Of Hedges, Including Titled And Leveraged Hedges, As Well As Swaps, Nontraditional Hedges, And Option Hedging They Will Also Gain A Firm Understanding Of Alternative Convertible Structures, The Use Of Foreign Convertibles In Hedging, Risk Management At The Portfolio Level, And Trading And Hedging Risks Convertible Arbitrage Eliminates Any Confusion By Clearly Differentiating Convertible Arbitrage Strategy From Other Hedging Techniques Such As Long Short Equity, Merger And Acquisition Arbitrage, And Fixed Income Arbitrage Nick Calamos Naperville, IL Oversees Research And Portfolio Management For Calamos Asset Management, Inc Since His Experience Has Centered On Convertible Securities Investment He Received His Undergraduate Degree In Economics From Southern Illinois University And An MS In Finance From Northern Illinois University