Used price: $2.50
Used price: $25.00
Not a good choice.
I recommend instead Bruce Pearson's Comprehensive Band Method series, "Best in Class."
Used price: $9.00
Collectible price: $10.00
Used price: $3.65
Collectible price: $5.28
Buy one from zShops for: $11.69
Used price: $24.01
Used price: $0.01
Collectible price: $3.18
List price: $89.95 (that's 30% off!)
not that many books on interest rate risk
were around. There was Das' "Swap Financing"
and Hull's "Options, Futures and other Derivative Securities",
so there was still room for valid contributions
servicing interest rate risk managers.
However, the content of the book is a meager subset
of those books. The author needs a phletora of pages
to explain simple notions such as duration and convexity,
without adding any useful insights.
In the chapter on Mortgage Backed Securities he
employs the same boring style giving the reader
the false impression that this is an accurate
description of the pricing of different MBS components.
The publicity pages are infuriating and do not
belong in a serious publication.
To summarize, if you are not capable of understanding
the first 6 chapters of Hull without Fabozzi's extensive
tables, mind boggling diagrams and paragraphs of blah blah,
you shouldn't be working with interest rate derivatives
in the first place.
And if you just want a description of fixed income products,
without or with limited pricing/hedging calculations, you
better go with Das or with Fabozzi's (ed.) "Handbook of Fixed
Income Securities". Don't waste...on this one.
I would not recommend using this guide.