When everyone else is investing in stocks, I'm investing in bonds.
 |
Description
Book Introduction
★ Highly recommended by financial daily instructor Oh Geon-young
★ Best Bond Analyst at Sampro TV, Chosun Ilbo, Maeil Business Newspaper, and Hankyung Ilbo
★ Star Trader with Top Performance in Overseas Bonds
Bond Investment Strategies from Analysts and Traders
Everything you need to know about bond investing through interest rate trends!
"When Everyone's Investing in Stocks, I Invest in Bonds" is a book that perfectly summarizes "Bond Investment Based on Interest Rate Trends" by Sanghoon Kim, a top bond analyst, and a member of the top performing traders in the overseas bond market.
Covering everything from the structure of interest rates to bond investment strategies, yield curve utilization, the structure of short-term and long-term interest rates, monetary policy, fiscal policy, and even Brazilian bond investment, it helps you understand the core rule of capitalism, interest rates, through bonds.
The book also includes investment advice and twenty Q&As from bond traders, providing concrete answers to the most pressing questions investors have in their daily lives.
This book is more than just a simple introduction to bonds; it's a practical guide that provides insights to help investors predict the direction of global asset markets.
★ Best Bond Analyst at Sampro TV, Chosun Ilbo, Maeil Business Newspaper, and Hankyung Ilbo
★ Star Trader with Top Performance in Overseas Bonds
Bond Investment Strategies from Analysts and Traders
Everything you need to know about bond investing through interest rate trends!
"When Everyone's Investing in Stocks, I Invest in Bonds" is a book that perfectly summarizes "Bond Investment Based on Interest Rate Trends" by Sanghoon Kim, a top bond analyst, and a member of the top performing traders in the overseas bond market.
Covering everything from the structure of interest rates to bond investment strategies, yield curve utilization, the structure of short-term and long-term interest rates, monetary policy, fiscal policy, and even Brazilian bond investment, it helps you understand the core rule of capitalism, interest rates, through bonds.
The book also includes investment advice and twenty Q&As from bond traders, providing concrete answers to the most pressing questions investors have in their daily lives.
This book is more than just a simple introduction to bonds; it's a practical guide that provides insights to help investors predict the direction of global asset markets.
- You can preview some of the book's contents.
Preview
index
introduction
Chapter 1: Why We Become Unjustly Poor
01 Bond Investment: Why Is It Getting So Much Attention Now?
02 Are U.S. Treasuries Under Threat to Safe Asset Leadership?
03 Five Realities You'll Face If You Don't Know Interest Rates
04 In the capitalist game, interest rates are essential for survival.
Chapter 2: The Basics of Bond Investment
: The power to read interest rates, credit, and structure
01 Entering the World of Bonds
02 Understanding the Capitalist Rule of Interest Rates
03 Practical Structure and Types of Bonds
04 Bond Investment Strategies and Practical Applications
Chapter 3: The Yield Curve and the Economic Implications of Long- and Short-Term Interest Rates
01 Structure and function of short-term and long-term interest rates
02 Reading the Economic Cycle with the Yield Curve
03 The Predictive Power and Limitations of the Yield Curve
Chapter 4: Using the Yield Curve in Practice
01 Yield Curve Changes Seen Through the U.S. Case Study
02 Analysis of Investment Performance by Yield Curve Phase
03 Correlation between Monetary Policy Phases and the Yield Curve: The Case of the United States
Chapter 5: Decoding the Bank of Korea's Monetary Policy
: Reading the Monetary Policy Signals Hidden in Phrases
01 Why should you read the Tongbangmun?
02 Policy Transitions Seen Through Past Major Cases: A Single Sentence Changes Policy
03 Warning Signs of a "Minority Opinion": A Sign of a Policy Shift
04 Newly Emerging Forward Guidance
Chapter 6: Uncovering U.S. Monetary Policy
: The Federal Reserve's decision criteria and the signals contained in its statement wording.
01 Basic Structure of the Federal Reserve's Monetary Policy
02 Evolution of Statement Wording and Policy Signals
03 Deciphering the Dot Plot: A Map to Deciphering the Fed's Mind
04 The Federal Reserve's Balance Sheet (B/S) and Market Liquidity
Chapter 7: Uncovering Fiscal Policy
01 Korea's Fiscal Policy and Bond Market
02 Decoding U.S. Fiscal Policy and the QRA
03 The meaning and use of term premium
Chapter 8: Exploring Brazilian Bond Investments
01 Why Brazilian Bonds Are Popular
02 Practical Investment Strategy: Exchange Rates Are Key
03 Understanding Brazilian Monetary Policy
Appendix Bond Trader's Investment Advice and Q&A
01 Investment Advice from a Bond Trader
02 Bond Trader Q&A
Chapter 1: Why We Become Unjustly Poor
01 Bond Investment: Why Is It Getting So Much Attention Now?
02 Are U.S. Treasuries Under Threat to Safe Asset Leadership?
03 Five Realities You'll Face If You Don't Know Interest Rates
04 In the capitalist game, interest rates are essential for survival.
Chapter 2: The Basics of Bond Investment
: The power to read interest rates, credit, and structure
01 Entering the World of Bonds
02 Understanding the Capitalist Rule of Interest Rates
03 Practical Structure and Types of Bonds
04 Bond Investment Strategies and Practical Applications
Chapter 3: The Yield Curve and the Economic Implications of Long- and Short-Term Interest Rates
01 Structure and function of short-term and long-term interest rates
02 Reading the Economic Cycle with the Yield Curve
03 The Predictive Power and Limitations of the Yield Curve
Chapter 4: Using the Yield Curve in Practice
01 Yield Curve Changes Seen Through the U.S. Case Study
02 Analysis of Investment Performance by Yield Curve Phase
03 Correlation between Monetary Policy Phases and the Yield Curve: The Case of the United States
Chapter 5: Decoding the Bank of Korea's Monetary Policy
: Reading the Monetary Policy Signals Hidden in Phrases
01 Why should you read the Tongbangmun?
02 Policy Transitions Seen Through Past Major Cases: A Single Sentence Changes Policy
03 Warning Signs of a "Minority Opinion": A Sign of a Policy Shift
04 Newly Emerging Forward Guidance
Chapter 6: Uncovering U.S. Monetary Policy
: The Federal Reserve's decision criteria and the signals contained in its statement wording.
01 Basic Structure of the Federal Reserve's Monetary Policy
02 Evolution of Statement Wording and Policy Signals
03 Deciphering the Dot Plot: A Map to Deciphering the Fed's Mind
04 The Federal Reserve's Balance Sheet (B/S) and Market Liquidity
Chapter 7: Uncovering Fiscal Policy
01 Korea's Fiscal Policy and Bond Market
02 Decoding U.S. Fiscal Policy and the QRA
03 The meaning and use of term premium
Chapter 8: Exploring Brazilian Bond Investments
01 Why Brazilian Bonds Are Popular
02 Practical Investment Strategy: Exchange Rates Are Key
03 Understanding Brazilian Monetary Policy
Appendix Bond Trader's Investment Advice and Q&A
01 Investment Advice from a Bond Trader
02 Bond Trader Q&A
Detailed image
Into the book
If you know the interest rate, you won't be scammed.
Don't be pushed into making wrong choices.
And you develop a 'foresight' to spot opportunities.
You might think that the gap between rich and poor has already widened due to rising real estate and stock prices.
But surely another opportunity will come.
This is because the central bank's monetary policy cycle alternates between tightening and easing.
If you begin to understand interest rates and economic policy, you will have the discernment to discern whether the next opportunity is real or fake.
This book is the starting point of that journey.
The moment you understand the rulebook called interest rates, the game of capitalism will look completely different.
Furthermore, you will understand what bond products are based on interest rates, how to determine investment timing, and what indicators are important.
--- p.29, from “Reasons for becoming unjustly poor”
Bond investors around the world analyze various macroeconomic variables before making bond investments, and as expectations melt away, the yield curve moves into one of four phases.
For example, if an asset price bubble is formed due to an oversupply of liquidity or prices soar due to war, the central bank will implement a tightening monetary policy.
This will cause short-term interest rates to rise.
On the other hand, if the economy is expected to decline in the future due to tight monetary policy, long-term interest rates will rise relatively less, leading to a bear flattening phase.
On the other hand, if a shutdown occurs due to an infectious disease such as COVID-19, economic activity will naturally decline.
If that happens, we can expect the central bank to implement an accommodative monetary policy and the government to implement an expansionary fiscal policy.
--- pp.100-101, from “The Economic Significance of Yield Curves and Long-Term and Short-Term Interest Rates”
Tightening monetary policy is usually implemented in a more cautious and gradual manner than during easing.
Even if growth and inflation recover, central banks are not abruptly changing course.
This is because it thoroughly considers whether the impact of the easing so far on financial markets and the real economy has been fully absorbed and whether normalization of policy rates is possible without additional shocks.
Therefore, the approach to the interest rate hike transition period must be approached with a different grammar than that of the easing period.
In particular, it is important to observe how the existing expression of 'maintaining the easing tone' is evolving toward 'the degree of easing can be adjusted.'
--- p.161, from “Deciphering the Monetary Policy of the Bank of Korea”
The Fed's monetary policy decisions are data-driven, but the way it communicates and communicates those policies to the markets is largely based on language.
Therefore, each word in the FOMC statement is not simply rhetorical; it serves as a summary of the decision-making process and a communication tool with the market.
As seen in the 2005-2006 and 2023 examples, the Fed used specific terms (such as firming, likely, and may) to signal a gradual easing of monetary policy, and the market used these to predict future policy directions.
In other words, reading the Fed statement is not about confirming "policy results," but rather a strategic reading process to identify clues to policy shifts and preempt the market.
--- p.204, from "Understanding U.S. Monetary Policy"
Since the 2020 pandemic, governments around the world have implemented expansionary fiscal policies of unprecedented scale.
This led to a surge in global government bond issuance, and the combination of increased money supply and supply chain disruptions fueled inflationary pressures.
As a result, central banks of major countries had to raise interest rates sharply to stabilize prices.
This means that fiscal policy is not simply a means of responding to the economy, but is a variable that significantly influences monetary policy, prices, and short-term and long-term interest rates.
In particular, in the Korean and U.S. bond markets, fiscal policy is a key variable in investment strategies and interest rate outlooks.
Don't be pushed into making wrong choices.
And you develop a 'foresight' to spot opportunities.
You might think that the gap between rich and poor has already widened due to rising real estate and stock prices.
But surely another opportunity will come.
This is because the central bank's monetary policy cycle alternates between tightening and easing.
If you begin to understand interest rates and economic policy, you will have the discernment to discern whether the next opportunity is real or fake.
This book is the starting point of that journey.
The moment you understand the rulebook called interest rates, the game of capitalism will look completely different.
Furthermore, you will understand what bond products are based on interest rates, how to determine investment timing, and what indicators are important.
--- p.29, from “Reasons for becoming unjustly poor”
Bond investors around the world analyze various macroeconomic variables before making bond investments, and as expectations melt away, the yield curve moves into one of four phases.
For example, if an asset price bubble is formed due to an oversupply of liquidity or prices soar due to war, the central bank will implement a tightening monetary policy.
This will cause short-term interest rates to rise.
On the other hand, if the economy is expected to decline in the future due to tight monetary policy, long-term interest rates will rise relatively less, leading to a bear flattening phase.
On the other hand, if a shutdown occurs due to an infectious disease such as COVID-19, economic activity will naturally decline.
If that happens, we can expect the central bank to implement an accommodative monetary policy and the government to implement an expansionary fiscal policy.
--- pp.100-101, from “The Economic Significance of Yield Curves and Long-Term and Short-Term Interest Rates”
Tightening monetary policy is usually implemented in a more cautious and gradual manner than during easing.
Even if growth and inflation recover, central banks are not abruptly changing course.
This is because it thoroughly considers whether the impact of the easing so far on financial markets and the real economy has been fully absorbed and whether normalization of policy rates is possible without additional shocks.
Therefore, the approach to the interest rate hike transition period must be approached with a different grammar than that of the easing period.
In particular, it is important to observe how the existing expression of 'maintaining the easing tone' is evolving toward 'the degree of easing can be adjusted.'
--- p.161, from “Deciphering the Monetary Policy of the Bank of Korea”
The Fed's monetary policy decisions are data-driven, but the way it communicates and communicates those policies to the markets is largely based on language.
Therefore, each word in the FOMC statement is not simply rhetorical; it serves as a summary of the decision-making process and a communication tool with the market.
As seen in the 2005-2006 and 2023 examples, the Fed used specific terms (such as firming, likely, and may) to signal a gradual easing of monetary policy, and the market used these to predict future policy directions.
In other words, reading the Fed statement is not about confirming "policy results," but rather a strategic reading process to identify clues to policy shifts and preempt the market.
--- p.204, from "Understanding U.S. Monetary Policy"
Since the 2020 pandemic, governments around the world have implemented expansionary fiscal policies of unprecedented scale.
This led to a surge in global government bond issuance, and the combination of increased money supply and supply chain disruptions fueled inflationary pressures.
As a result, central banks of major countries had to raise interest rates sharply to stabilize prices.
This means that fiscal policy is not simply a means of responding to the economy, but is a variable that significantly influences monetary policy, prices, and short-term and long-term interest rates.
In particular, in the Korean and U.S. bond markets, fiscal policy is a key variable in investment strategies and interest rate outlooks.
--- p.223, from "Uncovering Fiscal Policy"
Publisher's Review
Understand the core rule of capitalism, interest rates, through bonds,
Let's quickly read the movements of the global asset market!
“In fact, bonds are not a difficult area at all.
Nonetheless, it has been perceived as an area difficult to access for individual investors.
This is because there is a severe lack of introductory materials, and it is not easy to find accurate information or explanatory materials.
Especially considering that a single U.S. interest rate policy can significantly impact the Korean real estate market, global stock markets, and even cryptocurrency prices, understanding bonds and interest rates is not optional, but essential.
However, many investors still hesitate before the word ‘bond’.” _From the “Preface”
There are various investment vehicles such as stocks, real estate, and coins, but the fundamental variable that determines the direction of the asset market is 'interest rates.'
Interest rates are the central axis that moves the prices of all assets, and the asset that most honestly reflects these changes is 'bonds'.
As the author says, understanding bonds goes beyond simply learning about an investment vehicle; it's about reading the structure of the market and the flow of capital.
Yet, many investors fail to properly understand the relationship between interest rates and bonds, preventing them from responding appropriately to policy changes or economic cycle shifts.
"When Everyone Invests in Stocks, I Invest in Bonds" is a practical guide that complements these limitations.
It systematically organizes the correlation between interest rate structure and the bond market and clearly identifies the impact of macroeconomic variables such as yield curves, monetary policy, and fiscal policy on asset markets.
If investors can interpret the market through bonds, they will gain an eye for long-term direction beyond short-term returns.
Bond investment with guaranteed stability and returns!
Everything about bond investing starts with interest rates.
★ Includes Q&A on Bond Trader Investment Secrets ★
This book consists of eight chapters and an appendix.
Chapter 1, “Why You Unfairly Become a Poor Man,” explains why you need to learn about interest rates, as bonds are ultimately a function of interest rates.
Chapter 2, "The Fundamentals of Bond Investment," examines what bonds are, how bond prices are determined, the differences between stocks and bonds, the differences between deposits and bonds, the history of bonds, types of interest rates, the relationship between bond prices and interest rates, types of bonds, investment cases, and more, providing a true bond investment strategy.
Chapter 3, "The Economic Significance of the Yield Curve and Long-Term and Short-Term Interest Rates," explains the distinctions and characteristics of long-term and short-term interest rates, as well as the predictive power and limitations of the yield curve. It also explains that changes in the yield curve are so important that they can be called the pulse of the economy, and that they are a valuable asset to investors who know how to read them.
Chapter 4, "Using the Yield Curve in Practice," examines yield curve changes using the U.S. case study. It analyzes the characteristics of each of the four types of yield curves—bear tip, bull tip, bear flat, and bull flat—through investment simulations, demonstrating how investment strategies for each phase significantly impact returns.
Chapter 5, "Deciphering the Bank of Korea's Monetary Policy," addresses the importance of the monetary policy direction statement (Tongbangmun), emphasizing with examples that one should not miss any expression that appears in the sentence.
Chapter 6, "Understanding U.S. Monetary Policy," covers the structure of the U.S. Federal Reserve's (Fed) monetary policy, the meaning of key words in FOMC statements, how to interpret dot plots, and the importance of the balance sheet.
Chapter 7, "Understanding Fiscal Policy," highlights the importance of fiscal policy by demonstrating that it serves as a key variable in investment strategies and interest rate outlooks in the Korean and U.S. bond markets.
Chapter 8, "Investing in Brazilian Bonds," explains Brazilian bonds, a representative interest-rate product popular among domestic individual investors, and helps readers gain an intuitive understanding through investment simulations.
Finally, the appendix, "Investment Advice and Q&A from a Bond Trader," presents investment advice from bond traders and twenty carefully selected questions that general readers may have, organized in an easy-to-understand manner.
Through "When Everyone's Investing in Stocks, I Invest in Bonds," let's establish our own benchmark in the complex asset market and become an investor who can quickly read trends.
Let's quickly read the movements of the global asset market!
“In fact, bonds are not a difficult area at all.
Nonetheless, it has been perceived as an area difficult to access for individual investors.
This is because there is a severe lack of introductory materials, and it is not easy to find accurate information or explanatory materials.
Especially considering that a single U.S. interest rate policy can significantly impact the Korean real estate market, global stock markets, and even cryptocurrency prices, understanding bonds and interest rates is not optional, but essential.
However, many investors still hesitate before the word ‘bond’.” _From the “Preface”
There are various investment vehicles such as stocks, real estate, and coins, but the fundamental variable that determines the direction of the asset market is 'interest rates.'
Interest rates are the central axis that moves the prices of all assets, and the asset that most honestly reflects these changes is 'bonds'.
As the author says, understanding bonds goes beyond simply learning about an investment vehicle; it's about reading the structure of the market and the flow of capital.
Yet, many investors fail to properly understand the relationship between interest rates and bonds, preventing them from responding appropriately to policy changes or economic cycle shifts.
"When Everyone Invests in Stocks, I Invest in Bonds" is a practical guide that complements these limitations.
It systematically organizes the correlation between interest rate structure and the bond market and clearly identifies the impact of macroeconomic variables such as yield curves, monetary policy, and fiscal policy on asset markets.
If investors can interpret the market through bonds, they will gain an eye for long-term direction beyond short-term returns.
Bond investment with guaranteed stability and returns!
Everything about bond investing starts with interest rates.
★ Includes Q&A on Bond Trader Investment Secrets ★
This book consists of eight chapters and an appendix.
Chapter 1, “Why You Unfairly Become a Poor Man,” explains why you need to learn about interest rates, as bonds are ultimately a function of interest rates.
Chapter 2, "The Fundamentals of Bond Investment," examines what bonds are, how bond prices are determined, the differences between stocks and bonds, the differences between deposits and bonds, the history of bonds, types of interest rates, the relationship between bond prices and interest rates, types of bonds, investment cases, and more, providing a true bond investment strategy.
Chapter 3, "The Economic Significance of the Yield Curve and Long-Term and Short-Term Interest Rates," explains the distinctions and characteristics of long-term and short-term interest rates, as well as the predictive power and limitations of the yield curve. It also explains that changes in the yield curve are so important that they can be called the pulse of the economy, and that they are a valuable asset to investors who know how to read them.
Chapter 4, "Using the Yield Curve in Practice," examines yield curve changes using the U.S. case study. It analyzes the characteristics of each of the four types of yield curves—bear tip, bull tip, bear flat, and bull flat—through investment simulations, demonstrating how investment strategies for each phase significantly impact returns.
Chapter 5, "Deciphering the Bank of Korea's Monetary Policy," addresses the importance of the monetary policy direction statement (Tongbangmun), emphasizing with examples that one should not miss any expression that appears in the sentence.
Chapter 6, "Understanding U.S. Monetary Policy," covers the structure of the U.S. Federal Reserve's (Fed) monetary policy, the meaning of key words in FOMC statements, how to interpret dot plots, and the importance of the balance sheet.
Chapter 7, "Understanding Fiscal Policy," highlights the importance of fiscal policy by demonstrating that it serves as a key variable in investment strategies and interest rate outlooks in the Korean and U.S. bond markets.
Chapter 8, "Investing in Brazilian Bonds," explains Brazilian bonds, a representative interest-rate product popular among domestic individual investors, and helps readers gain an intuitive understanding through investment simulations.
Finally, the appendix, "Investment Advice and Q&A from a Bond Trader," presents investment advice from bond traders and twenty carefully selected questions that general readers may have, organized in an easy-to-understand manner.
Through "When Everyone's Investing in Stocks, I Invest in Bonds," let's establish our own benchmark in the complex asset market and become an investor who can quickly read trends.
GOODS SPECIFICS
- Date of issue: November 5, 2025
- Page count, weight, size: 284 pages | 152*225*20mm
- ISBN13: 9791189352981
- ISBN10: 1189352982
You may also like
카테고리
korean
korean
![ELLE 엘르 스페셜 에디션 A형 : 12월 [2025]](http://librairie.coreenne.fr/cdn/shop/files/b8e27a3de6c9538896439686c6b0e8fb.jpg?v=1766436872&width=3840)
