tailieunhanh - advances in Investment Analysis and Portfolio Management phần 7

- cao cấp trái phiếu phát hành bởi một công ty đã chứng minh khả năng kiếm được lợi nhuận thoải mái trong khoảng thời gian của năm và chi trả cho chủ sở hữu trái phiếu của nó quan tâm của họ mà không bị gián đoạn; • Junk trái phiếu - trái phiếu với đánh giá thấp, | Investment Analysis and Portfolio Management nor taxed it offers substantial advantages for many issuers and investors in bonds. Quality Gilt-edged bonds - high-grade bonds issued by a company that has demonstrated its ability to earn a comfortable profit over a period of years and to pay its bondholders their interest without interruption Junk bonds - bonds with low rating also regarded as high yield bonds. These bonds are primarily issued y corporations and also by municipalities. They have a high risk of default because they are issued as unsecured and have a low claim on assets. Other types of bonds Voting bonds - unlike regular bonds these bonds give the holder some voice in corporation management Senior bonds - bonds which having prior claim to the assets of the debtor upon liquidation Junior bonds - bonds which is subordinated or secondary to senior bonds. . Bond analysis structure and contents Similar to analysis when investing in stocks investor before buying bonds must evaluate a wide range of the factors which could influence his her investment results. The key factors are related with the results of the performance and the financial situation of the firm which is issuer of the bonds. Various indicators are used for the evaluation of these factors. Bond analysis includes Quantitative analysis. Qualitative analysis. . Quantitative analysis. Quantitative indicators - the financial ratios which allows assessing the financial situation debt capacity and credibility of the company -issuer of the bonds. Since the bonds are debt instruments and the investor in bonds really becomes the creditor the most important during analysis is the assessment of the credibility of the firm - issuer of the bonds. Basically this analysis can be defined as the process of assessment the issuer s ability to undertake the liabilities in time. Similar to the 98 Investment Analysis and Portfolio Management performing of fundamental analysis for common stock bond analysis or