Structured Finance and Collateralized Debt Obligations: New Developments in Cash and Synthetic Securitization / Edition 2

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Overview

Praise for Structured Finance & Collateralized Debt Obligations Second Edition

"Janet Tavakoli warned the world this disaster was coming well in advance. Now she explains it again for those who did not listen before as well as why it is not over yet. You need to read this book to understand the biggest credit bubble in world history."
—Jim Rogers, author of A Bull in China, Hot Commodities, Adventure Capitalist, and Investment Biker

"Janet Tavakoli's new book provides an insider view into the opaque world of structured finance and collateralized debt obligations. With its clear explanations of numerous structured-finance innovations, I expect this book to become the 'Rosetta Stone' for deciphering these markets. This book is a service to the investment community."
—Hilary Till, Cofounder, Premia Capital Management, LLC

"Janet Tavakoli explains the complex world of structured finance with unusual flair and colorful anecdotes from securitization's front lines. An indispensable and up-to-date guide for anyone seeking greater understanding of the CDO market."
—Charles C. Henneman, CFA, Head, Educational Programs and Events, CFA Institute

"Janet Tavakoli has been able to dissect, with a brisk style, the intricacies of many structured products. Not only does she explain in a clear and insightful manner how certain things work, but more important, why others do not work!"
—Arturo Cifuentes, PhD, Managing Director, R.W. Pressprich & Co.

"Stan O'Neal, Marcus Ospel, and more than a few other bold-face names in finance might still have jobs if they'd taken the trouble to read this book. Janet Tavakoli takes the complexities of today's derivatives markets and makes them both comprehensible and digestible for everybody from the practitioner to the interested observer."
—Greg Newton, Founding Publisher, MAR/Hedge

"Janet Tavakoli is exceptional in having worked extensively both in mortgage securitization and structured credit at major financial institutions. In this clearly written book, she shares her in-depth knowledge of structuring, valuation, and risk management of structured products. This book is a must read for regulators and risk managers to keep up with the latest developments in structured finance."
—Joseph Masri, PhD, Barclays Global Investors, Regional Director, Professional Risk Managers' International Association (PRMIA)

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Product Details

  • ISBN-13: 9780470288948
  • Publisher: Wiley
  • Publication date: 9/16/2008
  • Series: Wiley Finance Series , #461
  • Edition description: New Edition
  • Edition number: 2
  • Pages: 480
  • Sales rank: 713,103
  • Product dimensions: 6.40 (w) x 9.10 (h) x 1.60 (d)

Meet the Author

Janet M.Tavakoli is the President of Tavakoli Structured Finance, a Chicago-based consulting firm to financial institutions, institutional investors, and hedge funds. She gave advance warning of major collapses regarding Long-Term Capital Management, First Alliance Mortgage, the thrift industry, and the current credit bubble. Business-Week's profile called Tavakoli "The Cassandra of Credit Derivatives." She has over twenty years of experience trading, structuring, and marketing derivatives and structured products. Tavakoli is a former adjunct associate professor in the Finance Department of the University of Chicago's Graduate School of Business, where she taught derivatives. She is also the author of the first edition of Collateralized Debt Obligations and Structured Finance and Credit Derivatives and Synthetic Structures, now in its second edition. Tavakoli is frequently published and quoted in numerous financial publications including the Wall Street Journal, the Financial Times, BusinessWeek, Journal of Structured Finance, Derivatives Week, and many others. She also appears frequently on CNN, CNBC, CBS Evening News, Bloomberg TV, and First Business Morning News.

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Table of Contents

Preface.

Acronym Key.

CHAPTER 1: Securitization Terminology.

CHAPTER 2: Structured Finance and Special Purpose Entities.

CHAPTER 3: Credit Derivatives and Total Rate of Return Swaps.

CHAPTER 4: CDOs and the Global Capital Markets.

CHAPTER 5: Risk and Valuation Issues.

CHAPTER 6: Early CDO Technology.

CHAPTER 7: Early Warning Commercial Financial Services.

CHAPTER 8: Subprime and Alt-A Mortgages: Collateral Damage.

CHAPTER 9: Cash versus Synthetic Arbitrage CDOs.

CHAPTER 10: CDO Equity Structures.

CHAPTER 11: CDO Managers.

CHAPTER 12: Balance-Sheet CLOs and CDOs.

CHAPTER 13: Super Senior Sophistry.

CHAPTER 14: Synthetics and Mark-to-Market Issues.

CHAPTER 15: Comments on Selected Structured Finance Products.

CHAPTER 16: Credit Funds.

CHAPTER 17: The Credit Crunch and CDOs.

CHAPTER 18: Future Developments in Structured Finance.

APPENDIX: Interesting Web Sites.

Bibliography.

Index.

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