Books about Arbitrage from Amazon.com

Master convertible arbitrage and put profits within reach

"Finally, we have a comprehensive, practical, and lucid book on convertible arbitrage from one of the most seasoned investors in this growing asset class."
–Venu Krishna, CFA
Head of U.S. Convertible Research, Lehman Brothers

"Nick Calamos is one of the most experienced and successful convertible bond managers in the mutual fund industry. Who better to explain convertible arbitrage strategies?"
—William Harding, Analyst, Morningstar Investment Services

"Convertible Arbitrage is an indispensable resource, and is required reading for all fund of funds analysts and portfolio managers that cover this strategy."
–Joseph G. Nicholas, Chairman and CEO
HFR Asset Management, LLC

In good markets and bad, convertible arbitrage can give investors the best of both worlds: the safety of bonds and all the possibilities of stock-like performance.

This is partly why convertible arbitrage–following the larger trend of hedge funds–has moved to center stage in the last decade. But profiting from this increasingly popular investment strategy takes much more than knowing a few ground rules. It takes Convertible Arbitrage: Insights and Techniques for Successful Hedging.

Written by leading investment authority Nick P. Calamos, this comprehensive, just-in-time book covers:

• What the convertible arbitrage strategy is and what distinguishes it from other hedging techniques
• How to tap into successful convertible valuation models
• The full range of hedges, from tilted and leveraged hedges to swaps and option hedging
• And more!

Nick P. Calamos is the first recipient of the Excellence in Fund Management Award for Calamos Growth and Income Fund, bestowed by S&P and BusinessWeek..
Price: $38.10 [Notify me when price goes down.]

"This new edition of Active Portfolio Management continues the standard of excellence established in the first edition, with new and clear insights to help investment professionals."

-William E. Jacques, Partner and Chief Investment Officer, Martingale Asset Management.

"Active Portfolio Management offers investors an opportunity to better understand the balance between manager skill and portfolio risk. Both fundamental and quantitative investment managers will benefit from studying this updated edition by Grinold and Kahn."

-Scott Stewart, Portfolio Manager, Fidelity Select Equity ® Discipline

Co-Manager, Fidelity Freedom ® Funds.

"This Second edition will not remain on the shelf, but will be continually referenced by both novice and expert. There is a substantial expansion in both depth and breadth on the original. It clearly and concisely explains all aspects of the foundations and the latest thinking in active portfolio management."

-Eric N. Remole, Managing Director, Head of Global Structured Equity, Credit Suisse Asset Management.

Mathematically rigorous and meticulously organized, Active Portfolio Management broke new ground when it first became available to investment managers in 1994. By outlining an innovative process to uncover raw signals of asset returns, develop them into refined forecasts, then use those forecasts to construct portfolios of exceptional return and minimal risk, i.e., portfolios that consistently beat the market, this hallmark book helped thousands of investment managers. Active Portfolio Management, Second Edition, now sets the bar even higher. Like its predecessor, this volume details how to apply economics, econometrics, and operations research to solving practical investment problems, and uncovering superior profit opportunities. It outlines an active management framework that begins with a benchmark portfolio, then defines exceptional returns as they relate to that benchmark. Beyond the comprehensive treatment of the active management process covered previously, this new edition expands to cover asset allocation, long/short investing, information horizons, and other topics relevant today. It revisits a number of discussions from the first edition, shedding new light on some of today's most pressing issues, including risk, dispersion, market impact, and performance analysis, while providing empirical evidence where appropriate. The result is an updated, comprehensive set of strategic concepts and rules of thumb for guiding the process of-and increasing the profits from-active investment management..
Price: $41.57 [Notify me when price goes down.]

JSB Morse, in the follow up to the popular How to Take Advantage of the People Who Are Trying to Take Advantage of You, focuses on one of the most profitable techniques of the series: credit arbitrage Credit arbitrage is the method of taking advantage in the disparities between interest rates in the marketplace. Consumers can utilize low-interest debt to actually earn money-this book will show you how. Morse takes a simple, three-step approach to converting credit cards from an expense into a moneymaking tool. Complete with charts and detailed instruction, this manual will help you start raking in the dough with as much effort as it takes to apply for a credit card. Learn techniques on how to acquire 0% interest credit cards or get lower rates on your current credit cards; invest in any number of ways based on personal levels of risk-acceptance with that money; and maintain your accounts to maximize your profits. Morse has made it easy to start taking advantage of the people who are trying to take advantage of you; now all you need to do is start making money for nothing through credit arbitrage!.
Price: $5.99 [Notify me when price goes down.]

The second edition of this popular introduction to the classical underpinnings of the mathematics behind finance continues to combine sounds mathematical principles with economic applications. Concentrating on the probabilistics theory of continuous arbitrage pricing of financial derivatives, including stochastic optimal control theory and Merton's fund separation theory, the book is designed for graduate students and combines necessary mathematical background with a solid economic focus. It includes a solved example for every new technique presented, contains numerous exercises and suggests further reading in each chapter. In this substantially extended new edition, Bjork has added separate and complete chapters on measure theory, probability theory, Girsanov transformations, LIBOR and swap market models, and martingale representations, providing two full treatments of arbitrage pricing: the classical delta-hedging and the modern martingales. More advanced areas of study are clearly marked to help students and teachers use the book as it suits their needs..
Price: $63.55 [Notify me when price goes down.]

While statistical arbitrage has faced some tough timesas markets experienced dramatic changes in dynamics beginning in 2000new developments in algorithmic trading have allowed it to rise from the ashes of that fire. Based on the results of author Andrew Poles own research and experience running a statistical arbitrage hedge fund for eight yearsin partnership with a group whose own history stretches back to the dawn of what was first called pairs tradingthis unique guide provides detailed insights into the nuances of a proven investment strategy. Filled with in-depth insights and expert advice, Statistical Arbitrage contains comprehensive analysis that will appeal to both investors looking for an overview of this discipline, as well as quants looking for critical insights into modeling, risk management, and implementation of the strategy..
Price: $52.27 [Notify me when price goes down.]

Todays traders want to know when volatility is a sign that the sky is falling (and they should stay out of the market), and when it is a sign of a possible trading opportunity Inside Volatility Arbitrage can help them do this. Author and financial expert Alireza Javaheri uses the classic approach to evaluating volatility -- time series and financial econometrics -- in a way that he believes is superior to methods presently used by market participants. He also suggests that there may be "skewness" trading opportunities that can be used to trade the markets more profitably. Filled with in-depth insight and expert advice, Inside Volatility Arbitrage will help traders discover when "skewness" may present valuable trading opportunities as well as why it can be so profitable..
Price: $49.99 [Notify me when price goes down.]

Originally published in 1982, Risk Arbitrage has become a classic on arbitrage strategies by the "dean of the arbitrage community." It provides an overview of risk arbitrage, how it has been used over the centuries and particularly in modern markets, with a focus on merger arbitrage. From average expected returns to turning a position, cash tender offers, exchange offers, recapitalizations, spinoffs, stub situations, limited risk arbitrage, and corporate freeze-ins, the book provides a step by step walk through of a world of arb strategies illuminated by real world examples and case studies..
Price: $13.57 [Notify me when price goes down.]

An accessible guide to the pairs trading technique
A leading arbitrage expert gives traders real tools for using pairs trading, including customizable Excel worksheets on CD.

Mark Whistler (Denver, CO) is the key developer of pairstrader.com as well as a licensed securities trader and broker and leading arbitrage expert..
Price: $39.94 [Notify me when price goes down.]

The Complete Arbitrage Deskbook explains every aspect of the types, instruments, trading practices, and opportunities of modern equity arbitrage It travels beyond U.S. borders to examine the worldwide opportunities inherent in arbitrage activities and demonstrates how to understand and practice equity arbitrage in the global professional environment.

Written specifically for traders, risk managers, brokers, regulators, and anyone looking for a comprehensive overview of the field of equity arbitrage, this groundbreaking reference provides:  Details of the financial instruments used in equity arbitrage--stocks, futures, money markets, and indices  Explanations of financial valuation and risk analysis, tailored to the characteristics of the underlying position and market environment  Examples of actual arbitrage situations--presenting a real-life snapshot of equity arbitrage in action

The Complete Arbitrage Deskbook is the only book to combine operational details with practical analysis of modern equity arbitrage. Concise in explanation yet comprehensive in scope, it provides an integrated overview of both the practices and the possibilities of the modern equity arbitrage marketplace..
Price: $31.65 [Notify me when price goes down.]

An Introduction to Distress Investing is a comprehensive guide to distress investing around the world. Increasingly, corporate rehabilitation is more interesting than corporate liquidation to governments and capital markets. And increasingly a mezzanine industry of mutual funds, hedge funds, and private investors has stepped up to fill the role of the traditional corporate lender. This book covers distress investing from theoretical underpinnings to practical applications. It features cases studies of some of the biggest distress investing situations including Kmart and Pacific Gas & Electric. From the recent changes to U.S. bankruptcy code to creditor rights to cash bailouts, readers will learn how to analyze distressed situations including pricing issues, arbitrage opportunities, political and tax disadvantages to deal expenses and reorganization funding plans. Written by the leading practitioner of distress investing and co-authored by teaching academics, this book is certain to become the bible on the topic for professional investors and students..
Price: $44.10 [Notify me when price goes down.]