In Your Best Interest: The Ultimate Guide to the Canadian Bond Market

Sarah Robertson is editor of the Canadian Book Review Annual.

Hank Cunningham is a senior vice-president of Toronto-based Blackmount
Capital and an occasional guest on BNN. He has been involved in the
fixed-income market, as a bond trader and portfolio manager and
everything in between, for more than 37 years.

In this book, Cunningham sets out to equip investors “with the
knowledge and tools needed to maximize [their] returns while protecting
[their] principal.” Chapters 1 and 2 cover the mechanics of the bond
market and choosing the right investment adviser. Subsequent chapters
deal with the mathematics of bonds, various bond products, zero coupon
bonds, the laddered approach to fixed-income investing, the limitations
of GICs, and the risks and rewards of investing in the high-yield bond
market. The book includes a list of bond-related websites, a present
value table, and a comprehensive glossary in lieu of an index.

In Your Best Interest presents tried-and-true strategies for building a
successful bond portfolio. The author performs a valuable service by
reminding us that the best interest of the retail investor is seldom
compatible with the self-interest of the financial services industry. To
that end, he steers investors away from mutual bond funds (finding an
attractive alternative in low-fee bond ETFs) and makes a heartfelt plea
for greater transparency in the bond market.