How to make money with junk bonds / Robert Levine.

Acknowledgments -- Foreword / by Martin S. Fridson -- Foreword / by Joel Greenblatt -- Introduction -- Junk bonds and strong-horses -- My son's friend, millie -- My son's graduation money -- The junk bond market -- Corporate bond ratings and yields -- Credit analysis : how do you know when a company has too much debt? -- The strong-horse method -- Relating credit to price -- An example of how to conduct a strong-horse analysis -- Bondholders vs. stockholders and the junk bond advantage -- Management and ownership -- Bond price volatility -- Defaults and junk bonds -- Tests that show it works -- More statistical tests -- How to invest in junk bonds : logistics -- Covenants -- The good, the bad, and the ugly -- The good-good things happen to good companies -- The ugly and the bad : ccc investing -- Investing and analyzing a junk bond mutual fund -- A strong-horse will pull you through -- Appendix.

In How to Make Money With Junk Bonds, Fixed Income Analysts Society (FIASI) Hall of Famer Robert Levine uses real-world examples to help beginning junk bond investors analyze a companys earning potential; identify the good, bad, and very risky ones; and invest accordingly to generate high profits. The book explains all the nuts and bolts of junk bonds, including how to assess risk, evaluate market conditions, select the right portfolio manager, and avoid the most common mistakes.