Inside the Yield Book: The Classic That Created the Science of Bond Analysis, 3rd Edition

Foreword

by Henry Kaufman

I still recall when in 1969 Sidney Homer asked me to meet with Martin Leibowitz in order to ascertain how he might fit into our research effort at Salomon Brothers. Sidney Homer had joined Salomon in 1960 to set up a bond market research department. He had hired me a year later. My role eventually expanded to assuming overall research responsibilities. By the time Marty arrived, Sidney had already published his monumental book, A History of Interest Rates, followed by a number of papers on the behavior of interest rates from a portfolio management perspective. However, Sidney and I concluded that the time was now ripe for a more quantitative approach to evaluating the opportunities and pitfalls in the bond market. With ...