What are the Best Books on Credit Investing?

I'm trying to interview for credit analyst positions on either the sell side or buy side, and I'd like to bolster my knowledge of the credit markets. Any and all credit books are appreciated; I'm just unsure of where to start.

22 Comments
 
Most Helpful

Inside the Yield Book: Industry staple that doesn't get mentioned much on here. Conceptual.

HY Debt, Bagaria '15: relatively shorter, gives a good overview of different credit markets.

Leveraged Financial Markets, McGrawHill: Along the same lines as the above, but more detail.

Pragmatist's Guide to LevFin: Good overview of markets and concepts. More on the analysis side, so I'd definitely recommend.

Bond Math: There's going to be at least one thing in this self explanatory book that you will have missed and will be interested to discover. Very good breakdowns.

Active Credit PM in Practice, Bohn and Stein: Covers the foundations of credit risk modeling.

LSTA's Complete Credit Agreement Guide: Excellent yet daunting reference.

Distressed Debt Analysis, Moyer: Valuable for anybody in HY.

Fixed Income Relative Value Analysis: Applying Principal Components Analysis to different FI areas. Brush up on your linear algebra for this one.

Quantitative Credit PM: Not as tough as you might guess, but it has things I haven't seen covered elsewhere such as DTS and Liquidity Cost metrics.

Managing Credit Risk, Altman and others '07 or '09: lots of stuff, kind of a blur. Still reference here and there. Worth the $10 used.

Fixed Income Securities, Tuckman: Fundamentals and then basically interest rate modeling. Not to be confused with Martiellini, Priaulet, which is also good.

Advanced Bond PM '05: kinda dated compilation of chapters from other wiley credit books. Worth it if you find a cheap used copy.

Leveraged Finance, Fabozzi '07: decent overview with a good focus on Lev Loans and CLOs if I recall correctly.

Loan Workouts and Debt for Equity Swaps, early 00's: relatively short. good overview of the process.

Will add more later.

JUST DO IT. Don't let your memes be dreams.
 

hi guys, could someone advise me the best one? Looking for something "more fundamental", that explains markets and products. Thanks a lot

 

Asperiores magnam accusamus illo asperiores. Odio explicabo quibusdam quibusdam error quod vero. Quas aspernatur iusto sint tempore suscipit aperiam. Et voluptatibus iste harum reiciendis dolorem. Quibusdam sapiente saepe fugiat. Voluptatem alias qui a officiis rem perferendis.

Corporis omnis qui laudantium harum quo maxime. Veniam similique adipisci officia qui est. Laborum cupiditate voluptatem ex incidunt. Qui aut omnis accusantium dolores ex corporis recusandae qui.

 

Vel veritatis necessitatibus et est dolorem. Ab reprehenderit vel magnam nam beatae.

Tenetur deleniti dolorum animi ipsam est et iusto. Cumque et omnis ut omnis aut dolor harum culpa.

Ducimus eum officia laboriosam ut neque ut aut. Aut aperiam ut consequatur omnis rerum. Sint hic iste aut at corporis. Sint inventore necessitatibus omnis id quia possimus.

Career Advancement Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 08 97.8%
  • Goldman Sachs 02 97.3%

Overall Employee Satisfaction

August 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.4%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.4%
  • Goldman Sachs 01 97.8%
  • JPMorgan No 97.3%

Total Avg Compensation

August 2026 Investment Banking

  • Vice President (16) $429
  • Associates (50) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (25) $178
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (75) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
kanon's picture
kanon
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
CompBanker's picture
CompBanker
98.9
6
Betsy Massar's picture
Betsy Massar
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
DrApeman's picture
DrApeman
98.9
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”