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Calamos, Nick, P. −. Convertible arbitrage: insights and techniques for successful hedging/Nick P. Calamos. p. cm. — (Wiley finance series). Includes index. Read “Convertible Arbitrage Insights and Techniques for Successful Hedging” by Nick P. Calamos with Rakuten Kobo. Minimize risk and maximize profits with. Buy a cheap copy of Convertible Arbitrage: Insights and book by Nick P. Calamos. Minimize risk and maximize profits with convertible.

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By using our website you agree to our use of cookies. Dispatched from the UK in 3 business days When will my order arrive? Peir Shenq Stanley Lim. Home Contact Us Help Free delivery worldwide. Insights and Techniques for Successful Hedging. Description 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. Since his experience has centered on convertible securities investment. The Best Books of Check out the top books of the year on our page Best Books of Auflage Illustrations note w. Looking for beautiful books? Visit our Beautiful Books page and find lovely books for kids, photography lovers and more.

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Convertible Arbitrage : Insights and Techniques for Successful Hedging

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Financial Modeling and Valuation Paul Pignataro. Flap copy Investment professionals familiar with convertible arbitragetechniques recognize the strategy as a rock-solid tool forgenerating significant returns regardless of market movements. It’s no surprise, then, that amidst the backdrop of marketvolatility and investor uncertainty, the field of convertiblearbitrage keeps growing.

Calamos shows you waysto make the most of convertible arbitrage, explaining how to boostreturns while decreasing risk-no nik what the market isdoing. Calanos practice of convertible arbitrage takes advantage of theunique hybrid nature of convertible securities, which combine bothfixed-income and equity characteristics.

Convertible Arbitrage: Insights and Techniques for Successful Hedging

It typically involvesmatching a long position in convertible securities-usuallyconvertible bonds-with a short position of correspondingstock. The bond pays interest and guarantees a yield uponmaturity-but you also can participate in the movement of theunderlying stock because a convertible bond’s option componentmakes it readily convertible into stock.

Convertible arbitrage thusallows investors to create positions that achieve eithermarket-neutral returns or that have a bias towards asecurity’s future price, offering tools to both the defensiveand aggressive investor.

This not-to-be-missed guide gives you: A top-to-bottom overview of convertible arbitrage-itshistory, how it works, and why it is especially useful in avolatile marketIn-depth coverage of convertible valuation models and the”greeks,” the statistical qualifications of convertiblefunctionsReasons why the credit and business valuation of a convertiblecan make or break your hedge positionA thorough review of convertible arbitrage techniques-fromdelta hedges and convertible option hedge techniques to swaps andnontraditional hedgesAn insider’s guide to portfolio risk management, includingtips on portfolio evaluation, risk analysis, and optimization The array of convertible securities available-and theever-shifting financial engineering behind them-demands apractical working knowledge of convertible arbitrage hedgingtechniques.

Not only does Convertible Arbitrage put thosetechniques at your fingertips, it also helps you use thosetechniques to prepare for-and profit from-new twists inconvertible terms, types of securities, or derivative hedgeproducts.

Back cover copy Master convertible arbitrage and put profits within reach “Finally, we have a comprehensive, practical, and lucid book onconvertible arbitrage from one of the most seasoned investors inthis growing asset class. Convertible Research, Lehman Brothers “Nick Calamos is one of the most experienced and successfulconvertible bond managers in the mutual fund industry.

Who betterto explain convertible arbitrage strategies? This is partly why convertible arbitrage-following thelarger trend of hedge funds-has moved to center stage in thelast decade.

But profiting from this increasingly popularinvestment strategy takes much more than knowing a few groundrules.


It takes Convertible Arbitrage: Insights and Techniques forSuccessful Hedging. Written by leading investment authority Nick P. Calamos, thiscomprehensive, just-in-time book covers: What the convertible arbitrage strategy is and whatdistinguishes it from other hedging techniquesHow to tap into successful convertible valuation modelsThe full arbitraage of hedges, from tilted and leveraged hedges toswaps and option hedgingAnd more!

Table of contents Chapter 1. Convertible Arbitrage-A Brief History. Why Hedge with Convertibles?

Basics of Convertible Securities. Basics of Convertible Arbitrage. Credit and Equity Considerations. Credit Analysis and Equity Market Feedback. Asset Value Credit Evaluation. Cash Flow and Valuing a Business. Delta Neutral Hedge Long Volatility. Delta Estimates versus Theoretical Deltas. Dynamic Rebalancing of the Delta Neutral Hedge. Delta Neutral Hedge on Leverage. Delta Hedge-Currency Hedge Overlay.

Capturing the Gamma in a Convertible Hedge.

Bearish Tilt Gamma Convertible Hedge. Bearish Gamma Hedge on Leverage. Convertible Option Hedge Techniques. The Mechanics of Convertible Asset Swapping. Monetization of a Cheap Embedded Call Option. Merger and Acquisition Risk Arbitrage Trades. Reset Convertibles or Death Spiral Convertibles. Basket Hedging Equity Delta. Dividend Reduction Convertible Hedge. Trading Desk Value Added.

Hedging Systematic Risks with Index Options. Hedging Volatility with Volatility Swaps. Hedging Omicron with Volatility Swaps.

Rough Spots for Convertible Arbitrage. Managing the Convertible Arbitrage Manager. With the firm sinceMr. Calamos has been instrumental in developing the Calamos Convertible Research System CCRSa sophisticated, proprietary research system that monitors and scans the entire market for the best available investment opportunities. 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.

Convertible Arbitrage : Nick P. Calamos :

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