With fresh data and new material on researching and buying bonds on the web, inflation-indexed bonds and bond funds, it is a definitive guide to fixed income investments. The treatment is U.S.-based, but the text is immensely intelligent and readily accessible to readers. Find the present discounted value of all of a bond's cash flows and adjust them by weight for the times that values are to be received.
Duration is fundamental to understanding a bond's return.
It is a concept that has no nationality. Ms. Thau deals with other bond data that is distinctively American. For a person with a bond portfolio that is anything more than Canada Savings Bonds, or who has units in a bond mutual fund, this book is an essential reference. For a book of its quality and importance, it's cheap for its price.