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.
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.
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https://www.wallstreetoasis.com/forums/credit-investing-books
https://www.amazon.com/slp/credit-investing/yhwz298jvte44ns
https://www.amazon.com/Credit-Derivatives-Trading-Investing-Management/…
Thanks!
you got it
I have about a $10k collection. I’ll edit this comment with a list in a bit. Remind me if I forget before Monday.
Awesome, I really appreciate it.
TheDarkLordBigChungus Hey could you add the list?
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.
Thanks!
You want to add more to that?! Dude that's quite a lot of stuff right there.
This is great
Thanks buddy! very helpful.
Yo do you have more? Stay healthy!
Any suggestions on the order to read them in? ie. so we have better contextual understanding before delving into the specifics/math? Thanks
Thanks! Does anybody have a pdf for Leveraged Finance: Concepts, Methods, and Trading of High-Yield Bonds, Loans, and Derivatives from Fabozzi?
FIFTY SHADES OF GREY
.
Is Janet Yellen in that one?
i hope so
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.
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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.