Tavakoli Structured Finance and Collateralized Debt Obligations

New Developments in Cash and Synthetic Securitization
2. Auflage 2008
ISBN: 978-0-470-39118-1
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 480 Seiten, E-Book

Reihe: Wiley Finance Editions

An up-to-date look at the exploding CDO and structured creditproducts market
In this fully updated Second Edition, financial expert JanetTavakoli provides readers with a comprehensive look at the CDO andstructured credit products market amid recent developments. Inaddition to a detailed overview of the market, this book presentskey issues in valuing structured financial products and importantquality control issues. Tavakoli shares her experiences in thisfield, as she examines important securitization topics, includingthe huge increase in CDO arbitrage created by synthetics, thetranches most at risk from new technology, dumping securitizationson bank balance sheets, the abuse of offshore vehicles bycompanies, the role of hedge funds, critical issues with subprime,Alt-A, and prime mortgage securitizations, and securitizations madepossible by new securitization techniques and the Euro. Whileproviding an overview of the market and its dynamic growth,Tavakoli takes the time to explore the types of products nowoffered, new hedging techniques, and valuation and risk/returnissues associated with investment in CDOs and synthetic CDOs.

Autoren/Hrsg.

Tavakoli, Janet M.

Inhaltsverzeichnis

Preface.
Acronym Key.
CHAPTER 1: Securitization Terminology.
CHAPTER 2: Structured Finance and Special Purpose Entities.
CHAPTER 3: Credit Derivatives and Total Rate of ReturnSwaps.
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 FinanceProducts.
CHAPTER 16: Credit Funds.
CHAPTER 17: The Credit Crunch and CDOs.
CHAPTER 18: Future Developments in Structured Finance.
APPENDIX: Interesting Web Sites.
Bibliography.
Index.

Über Autor(innen)

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.