Download or read book Collateralized Debt Obligations written by Laurie S. Goodman and published by John Wiley & Sons. This book was released on 2002-11-25 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical guide to the features and investment characteristics of CDOs In the bond area, collateralized debt obligations, which include collateralized bond obligations and collateralized loan obligations, are the fastest-growing sector. Collateralized Debt Obligations: Structures and Analysis describes the various products in this area-cash flow CDOs, market value CDOs, synthetic CDOs, etc.-and explains how to evaluate them. With this book as their guide, investment managers and institutional investors alike will learn how to analyze the risks associated with CDOs, create a portfolio of CDO products, and assess trading opportunities in the secondary market.

Download or read book Collateralized Debt Obligations written by Douglas J. Lucas and published by John Wiley & Sons. This book was released on 2006-08-04 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since first edition's publication, the CDO market has seen tremendous growth. As of 2005, $1.1 trillion of CDOs were outstanding -- making them the fastest-growing investment vehicle of the last decade. To help you keep up with this expanding market and its various instruments, Douglas Lucas, Laurie Goodman, and Frank Fabozzi have collaborated to bring you this fully revised and up-to-date new edition of Collateralized Debt Obligations. Written in a clear and accessible style, this valuable resource provides critical information regarding the evolving nature of the CDO market. You'll find in-depth insights gleaned from years of investment and credit experience as well as the examination of a wide range of issues, including cash CDOs, loans and CLOs, structured finance CDOs and collateral review, emerging market and market value CDOs, and synthetic CDOs. Use this book as your guide and take advantage of this dynamic market and its products.

Download or read book Developments in Collateralized Debt Obligations written by Douglas J. Lucas and published by John Wiley & Sons. This book was released on 2007-05-04 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developments In Collateralized Debt Obligations The fastest growing sector of the fixed income market is the market for collateralized debt obligations (CDOs). Fostered by the development of credit default swaps (CDS) on all types of indexes of corporate bonds, emerging market bonds, commercial loans, and structured products, new products are being introduced into this market with incredible speed. In order to keep up with this dynamic market and its various instruments, you need a guide that provides you with the most up-to-date information available. That's why Douglas Lucas, Laurie Goodman, Frank Fabozzi, and Rebecca Manning have created Developments in Collateralized Debt Obligations. Filled with in-depth insights regarding new products, like hybrid assets in ABS CDOs and trust preferred CDOs, and detailed discussions on important issues-such as the impact of CDOs on underlying collateral markets-this book will bring you completely up to speed on essential developments in this field. Written in a straightforward and accessible style, Developments in Collateralized Debt Obligations will enhance your understanding of this ever-evolving market-and its numerous products.

Download or read book Structured Finance and Collateralized Debt Obligations written by Janet M. Tavakoli and published by John Wiley & Sons. This book was released on 2008-09-22 with total page 590 pages. Available in PDF, EPUB and Kindle. Book excerpt: An up-to-date look at the exploding CDO and structured credit products market In this fully updated Second Edition, financial expert Janet Tavakoli provides readers with a comprehensive look at the CDO and structured credit products market amid recent developments. In addition to a detailed overview of the market, this book presents key issues in valuing structured financial products and important quality control issues. Tavakoli shares her experiences in this field, as she examines important securitization topics, including the huge increase in CDO arbitrage created by synthetics, the tranches most at risk from new technology, dumping securitizations on bank balance sheets, the abuse of offshore vehicles by companies, the role of hedge funds, critical issues with subprime, Alt-A, and prime mortgage securitizations, and securitizations made possible by new securitization techniques and the Euro. While providing an overview of the market and its dynamic growth, Tavakoli takes the time to explore the types of products now offered, new hedging techniques, and valuation and risk/return issues associated with investment in CDOs and synthetic CDOs.

Download or read book Developments in Collateralized Debt Obligations written by Douglas J. Lucas and published by Wiley. This book was released on 2007-03 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Developments In Collateralized Debt Obligations The fastest growing sector of the fixed income market is the market for collateralized debt obligations (CDOs). Fostered by the development of credit default swaps (CDS) on all types of indexes of corporate bonds, emerging market bonds, commercial loans, and structured products, new products are being introduced into this market with incredible speed. In order to keep up with this dynamic market and its various instruments, you need a guide that provides you with the most up-to-date information available. That's why Douglas Lucas, Laurie Goodman, Frank Fabozzi, and Rebecca Manning have created Developments in Collateralized Debt Obligations. Filled with in-depth insights regarding new products, like hybrid assets in ABS CDOs and trust preferred CDOs, and detailed discussions on important issues--such as the impact of CDOs on underlying collateral markets--this book will bring you completely up to speed on essential developments in this field. Written in a straightforward and accessible style, Developments in Collateralized Debt Obligations will enhance your understanding of this ever-evolving market--and its numerous products.

Download or read book Pricing and Risk Management of Synthetic CDOs written by Anna Schlösser and published by Springer Science & Business Media. This book was released on 2011-02-04 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers the one-factor copula model for credit portfolios that are used for pricing synthetic CDO structures as well as for risk management and measurement applications involving the generation of scenarios for the complete universe of risk factors and the inclusion of CDO structures in a portfolio context. For this objective, it is especially important to have a computationally fast model that can also be used in a scenario simulation framework. The well known Gaussian copula model is extended in various ways in order to improve its drawbacks of correlation smile and time inconsistency. Also the application of the large homogeneous cell assumption, that allows to differentiate between rating classes, makes the model convenient and powerful for practical applications. The Crash-NIG extension introduces an important regime-switching feature allowing the possibility of a market crash that is characterized by a high-correlation regime.

Download or read book Synthetic CDOs written by Craig Mounfield and published by Cambridge University Press. This book was released on 2009 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Details the latest models and techniques in quantitative and computational modelling of synthetic Collateralised Debt Obligations.

Download or read book The Handbook of Fixed Income Securities Chapter 31 Synthetic CDOs written by Frank Fabozzi and published by McGraw Hill Professional. This book was released on 2005-04-15 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: From The Handbook of Fixed Income Securities--the most authoritative, widely read reference in the global fixed income marketplace--comes this sample chapter. This comprehensive survey of current knowledge features contributions from leading academics and practitioners and is not equaled by any other single sourcebook. Now, the thoroughly revised and updated seventh edition gives you the facts and formulas you need to compete in today's transformed marketplace. It places increased emphasis on applications, electronic trading, and global portfolio management.

Download or read book Numerical Methods for the Valuation of Synthetic Collateralized Debt Obligations written by Xiaofang Ma and published by . This book was released on 2007 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Collateralized Debt Obligation (CDO) is a credit derivative that creates fixed income securities, which are known as tranches. A CDO is called a synthetic CDO if the risky assets in the underlying pool are credit default swaps. An essential part of the valuation of a synthetic CDO tranche is how to estimate accurately and efficiently the expected value of the tranche loss function. It is known that the expected value of a function of one random variable is completely determined by the distribution of the random variable and the function itself. A standard approach to estimate the expected value of a function of one random variable is to estimate the distribution of the underlying random variable, the pool loss in our case, and then to evaluate the expected value of the given function, the tranche loss function for our problem. Following this approach, we introduce three methods for estimating the distribution of the pool loss: a stable recursive method for computing the distribution of the pool loss exactly, an improved compound Poisson approximation method and a normal power approximation method for approximating the distribution of the pool loss.We also develop a new method that focuses on the tranche loss function directly. The tranche loss function is expressed simply in terms of two bases functions. Each of the two bases functions is a transformation of the hockey stick function h(x), where h(x) = 1-- x if 0 x

Download or read book Understanding the Risk of Synthetic CDOs written by Michael S. Gibson and published by . This book was released on 2004 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Collateralized Debt Obligations written by E. Mrudula and published by . This book was released on 2006 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: Collateralized Debt Obligations (CDOs) are perhaps some of the most important innovations in the field of securitization. Part of the marketable instruments issued by the Special Purpose vehicle for investors, they are backed by many specific assets such

Download or read book Structured Finance and Collateralized Debt Obligations written by Janet M. Tavakoli and published by . This book was released on 2019-04-26 with total page 479 pages. Available in PDF, EPUB and Kindle. Book excerpt: The classic finance book on cash and synthetic securitizations, asset-backed securities, mortgage-backed securities, credit derivatives, and the financial crisis.

Download or read book Collateralized Debt Obligations and Structured Finance written by Janet M. Tavakoli and published by Wiley. This book was released on 2003-08-28 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most cutting-edge read on CDO and credit market structures Collateralized Debt Obligations and Structured Finance provides a state-of-the-art look at the exploding CDO and structured credit products market. Financial expert Janet Tavakoli examines securitization topics never before seen in print, including the huge increase in the CDO arbitrage created by synthetics; the tranches most at risk from this new technology; dumping securitizations on bank balance sheets; the abuse of offshore vehicles by companies such as Enron; and securitizations made possible by new securitization techniques and the introduction of the Euro. This valuable guide comprehensively covers one of the fastest growing markets on Wall Street, predicting where new bank regulations and other developments may lead to product growth or product extinction. While providing an overview of the market and its dynamic growth, Collateralized Debt Obligations and Structured Finance explores the types of products offered, hedging techniques, and valuation and risk/return issues associated with investment in CDOs and synthetic CDOs. Janet M. Tavakoli, MBA (Chicago, IL), has over eighteen years of experience trading, structuring, and marketing derivatives and structured products with major financial institutions in New York and London. She is also the author of Credit Derivatives and Synthetic Structures, now in its Second Edition (0-471-41266-X).

Download or read book The Handbook of Structured Finance Chapter 11 Recent and Not So Recent Developments in Synthetic CDOs written by Arnaud de Servigny and published by McGraw Hill Professional. This book was released on 2007-01-22 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter comes from the book The Handbook of Structured Finance, a complete guide to the major issues facing investors in the structured finance market. Comprehensive and accessible, it provides the latest techniques for measuring and managing risk, finding optimum pricing, and taking advantage of leverage and market incompleteness, as well as models for debt and equity modeling.

Download or read book Structured Credit Products written by Moorad Choudhry and published by John Wiley & Sons. This book was released on 2011-09-20 with total page 628 pages. Available in PDF, EPUB and Kindle. Book excerpt: Updated coverage of structured credit products with in-depth coverage of the latest developments Structured credit products are one of today's fastest growing investment and risk management mechanisms, and a focus of innovation and creativity in the capital markets. The building blocks of these products are credit derivatives, which are among the most widely used products in finance. This book offers a succinct and focused description of the main credit derivative instruments, as well as the more complex products such as synthetic collateralized debt obligations. This new edition features updated case studies from Europe and Asia, the latest developments in synthetic structures, the impact of the subprime meltdown, along with models and teaching aids. Moorad Choudhry returns with this excellent update of the credit derivatives market. The second edition of his classic work is, like the subject matter itself, at the forefront of the financial industry. It deserves a wide readership. —Dr Didier Joannas Regional Director, Thomson Reuters, Hong Kong This is the perfect companion for both experienced and entry level professionals working in the structured credit fraternity. It is an erudite, insightful and enjoyable read that successfully demystifies one of the most topical subject areas in banking today, while also providing important practical examples that link the theory to the job itself. —Dr James Berriman Global Pricing Unit, Royal Bank of Scotland Moorad Choudhry has earned a deserved reputation from both academics and practitioners as one of the leading practical yet rigorous authors of finance books. In this Second Edition, his practical knowledge of credit derivatives keeps the audience engaged with straightforward explanations of complicated structures, and an accessible level of mathematical sophistication necessary to understand structured credit products. The author offers complete, rigorous analysis while avoiding overuse of mathematical formulas and carefully balanced practical and theoretical aspects of the subject. I strongly recommend this book for those wishing to gain an intuitive understanding of structured credit products, from practitioners to students of finance! —Mohamoud Barre Dualeh Senior Product Developer, Abu Dhabi Commercial Bank, UAE This is THE book for credit derivative trading. From first steps to advanced trading strategies, this is invaluable. Well written and insightful, perfect for ad hoc reference or reading cover to cover. —Andrew Benson ETF Market Making, KBC Peel Hunt, London Professor Choudhry has inspired me to really get into credit derivatives. It’s great to be lectured by someone with such energy and practical hands-on experience, as well as the ability to get stuck into the details. —George Whicheloe Equity-Linked Technology, Merrill Lynch, London Moorad Choudhry is Head of Treasury at Europe Arab Bank plc in London. He is a Visiting Professor at the Department of Economics at London Metropolitan University.

Download or read book A Primer on Synthetic Collateralised Debt Obligations written by Didier Joannas and published by . This book was released on 2003 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Collateralized Debt Obligation (CDO) was a natural development in securitisation, first introduced in 1988. A CDO is a structured finance product in which a distinct legal entity known as a special purpose vehicle issues bonds or notes against an investment in cash flows of an underlying pool of assets. These assets can be bonds, commercial bank loans or a mixture of both bonds and loans. Originally CDOs were developed as repackaging structures for high-yield bonds and illiquid instruments such as certain convertible bonds, but they have developed into sophisticated investment management vehicles in their own right. Through the 1990s CDOs were the fastest growing asset class in the asset-backed securities market, due to a number of features that made them attractive to issuers and investors alike. A subsequent development was the synthetic CDO, a structure that combines credit derivatives and securitization technology in its construction. It has become very popular with banks and fund managers, both from an originator and investor perspective. considering the genesis of the CDO, principally the economic advantages of these products for both issuers and investors. It then looks at the products themselves and concludes with case studies of selected CDO transactions.

Download or read book Structure Finance and Collateralized Debt Obligations written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This title offers an up-to-date look at the exploding CDO and structured credit products market. In this fully updated Second Edition, financial expert Janet Tavakoli provides readers with a comprehensive look at the CDO and structured credit products market amid recent developments. In addition to a detailed overview of the market, this book presents key issues in valuing structured financial products and important quality control issues. Tavakoli shares her experiences in this field, as she examines important securitization topics, including the huge increase in CDO arbitrage created by synthetics, the tranches most at risk from new technology, dumping securitizations on bank balance sheets, the abuse of offshore vehicles by companies, the role of hedge funds, critical issues with subprime, Alt-A, and prime mortgage securitizations, and securitizations made possible by new securitization techniques and the Euro. While providing an overview of the market and its dynamic growth, Tavakoli takes the time to explore the types of products now offered, new hedging techniques, and valuation and risk/return issues associated with investment in CDOs and synthetic CDOs.