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Convertible Arbitrage

Insights and Techniques for Successful Hedging

Wiley, J,
E-Book ( PDF mit Adobe DRM )
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Minimize risk and maximize profits with convertible arbitrage
Convertible arbitrage involves purchasing a portfolio ofconvertible securities-generally convertible bonds-and hedging aportion of the equity risk by selling short the underlying commonstock. This increasingly popular strategy, which is especiallyuseful during times of market volatility, allows individuals toincrease their returns while decreasing their risks. ConvertibleArbitrage offers a thorough explanation of this unique investmentstrategy. Filled with in-depth insights from an expert in thefield, this comprehensive guide explores a wide range ofconvertible topics. Readers will be introduced to a variety ofmodels for convertible analysis, "the Greeks," as well as the fullrange of hedges, including titled and leveraged hedges, as well asswaps, nontraditional hedges, and option hedging. They will alsogain a firm understanding of alternative convertible structures,the use of foreign convertibles in hedging, risk management at theportfolio level, and trading and hedging risks. ConvertibleArbitrage eliminates any confusion by clearly differentiatingconvertible arbitrage strategy from other hedging techniques suchas long-short equity, merger and acquisition arbitrage, andfixed-income arbitrage.
Nick Calamos (Naperville, IL) oversees research and portfoliomanagement for Calamos Asset Management, Inc. Since 1983 hisexperience has centered on convertible securities investment. Hereceived his undergraduate degree in economics from SouthernIllinois University and an MS in finance from Northern IllinoisUniversity.


Titel: Convertible Arbitrage
Autoren/Herausgeber: Nick P. Calamos
Aus der Reihe: Wiley Finance Editions
Ausgabe: 1. Auflage

ISBN/EAN: 9780471480990

Seitenzahl: 304
Produktform: E-Book
Sprache: Englisch

NICK P. CALAMOS is the Head of Investments and Chief Investment Officer overseeing research and portfolio management for Calamos Asset Management, Inc., one of the largest and most well-known convertible investment firms in the country. He oversees the #1 Convertible Fund and the #1 Growth Fund as rated by Lipper and Morningstar for the ten-year period ended 12/31/02. With the firm since 1983, Mr. Calamos has been instrumental in developing the Calamos Convertible Research System (CCRS), a sophisticated, proprietary research system that monitors and scans the entire market for the best available investment opportunities. A Chartered Financial Analyst (CFA), Mr. Calamos is a member of the Investment Analysts Society of Chicago. He has spoken at various conferences and seminars throughout the country on convertible securities investing, has been quoted as an authority on convertible securities by leading financial publications such as Barron's, Fortune, The Wall Street Journal, USA Today, and the New York Times, and has appeared on CNBC and Bloomberg television. He received his undergraduate degree in economics from Southern Illinois University and an MS in finance from Northern Illinois University. - Newsletter
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