Convertible Securities: A Complete Guide to Investment and Corporate Financing Strategies - Hardcover

Maitland, Tracy V.; Nelson, F. Barry; Partlow, Daniel

Hardcover

ISBN 10: 1260462900 ISBN 13: 9781260462906

Publisher: McGraw Hill, 2022

Synopsis

The definitive guide to reduced-risk investing in the $600+ billion global convertible securities market

Authored by professionals at Advent Capital Management―one of the world’s leaders on convertible securities―Convertible Securities describes the mechanics and behavior of convertible securities in comprehensive yet easy-to-understand language.

Written for discerning investors, including corporate CIOs and CFOs, financial investment academics, and financial advisors, Convertible Securities provides quantitative insights and theories presented in a methodical and understandable format using recent and relevant examples. It explains the mathematical underpinnings of convertible securities and offers thorough analyses of convertibles from every angle, including those of various types of investors and issuers and numerous related disciplines (tax, performance analysis, accounting, risk management, and others). Topics include:

• Unique and Valuable Features in Convertible Bonds and Convertible Preferred Stocks
• How Savvy Investors Use Convertibles in their Portfolios
• How CFOs Optimize Corporate Capital Structures with Convertibles
• Valuation & Quantitative Properties of Convertibles
• Psychology and Investing in Convertibles
• Asset Allocation Models that Weigh the Advantages of Convertibles
• Practical Considerations for Convertible Investors―and much more!

A high value-added asset class with a unique record of achieving equity-like returns with less risk than outright investment in common stocks, convertible securities are perfect for times when markets are at their most unpredictable. Convertible Securities offers everything you need to make them work for you, now and in the future.

About this title

About the Author

Tracy V. Maitland is President and Chief Investment Officer at Advent Capital Management, LLC. Prior to founding Advent, he served as a Director in the convertible securities department in Merrill Lynch’s capital markets division, where he was instrumental in introducing convertibles as an asset class to major institutional investors worldwide. 

F. Barry Nelson, CFA is a retired Partner of Advent Capital Management who served as a Portfolio Manager and who continues to serve as a Senior Advisor to the firm.

Dan Partlow is a Managing Director and the Chief Risk Officer of Advent; he was previously the Chief Risk Officer of Stanfield Capital Partners.

From the Back Cover

"The best investments are often found among the things that other people don't know or care about. That's a good description of convertibles, and nobody's a better guide to them than Tracy Maitland and his partners at Advent Capital Management." 
—Howard S. Marks, Co-Chairman/Co-Founder at Oaktree Capital Group LLC

"Convertible securities underpin my goal of obtaining long-term superior risk-adjusted returns. Advent is a leader in the investment world for convertibles, and its founder Tracy Maitland and his team have now written a comprehensive book that incorporates what we refer to as 'an accumulated and compounded knowledge of the convertible world.' "
—Mario J. Gabelli, CEO, GAMCO Investors

"The subtitle of this book says "complete," and Tracy Maitland discusses the often-overlooked niche of private convertibles—a rewarding subsector of the rapidly growing private securities market that includes many promising tech companies."
—Robert F. Smith, Founder, Chairman and CEO, Vista Equity Partners

"As a hedge fund manager, I've always been acutely aware of the positive asymmetry of convertibles, which capture most of the upside of common stocks, while being exposed to less of the downside. Convertibles are ideal for hedging as well as traditional long-only investing, as Tracy Maitland and his coauthors explain in this remarkably comprehensive book."
—Jamie Dinan, Chairman & Chief Executive Officer, York Capital Management

Edition details

• Publisher: McGraw Hill
• Publication date: 2022
• Language: English
• ISBN 10: 1260462900
• ISBN 13: 9781260462906
• Binding: Hardcover
• Edition number: 1
• Number of pages: 560