The Structured Credit Handbook (eBook)

Arvind Rajan, Glen McDermott, Ratul Roy (Autoren)

eBook Download: PDF

2007 | 1. Auflage
496 Seiten
John Wiley & Sons (Verlag)
978-0-470-10008-0 (ISBN)

Infos

The Structured Credit Handbook is a comprehensive
introduction to all types of credit-linked financial instruments.
This book provides state-of-the-art primers on single tranche
collateralized debt obligations (CDOs), collateralized loan
obligations (CLOs), credit derivatives (such as credit default
swaps and swaptions), and iBoxx indexes. Filled with in-depth
insight and expert advice, The Structured Credit Handbook covers
all aspects of the synthetic arbitrage CDO market, including new
instruments such as CDO2. Readers will also gain a firm
understanding of the investment rationale, risks, and rewards
associated with CDO investments through this valuable resource.

The exploding use of credit derivatives and collateralized debt
obligations (CDOs) has transformed the world of credit, creating an
$18 trillion market almost overnight and resulting in innumerable
investment and career opportunities globally. The Structured
Credit Handbook provides the reader with a comprehensive and
clear roadmap to today's new credit landscape. The full spectrum of
structured credit products, from single-name CDS to CDOs, is
explained in a simple, clear fashion that is free from the
financial jargon and mathematical complexity which characterize
many other derivative texts. The handbook begins with an in-depth
explanation of the building blocks of the structured credit
markets, single-name default swaps and indexes, and it culminates
with complex products such as credit options, synthetic tranches,
CDOs based on bank loans and asset-backed securities, and
CDO-squareds.

Written by experienced practitioners who have participated in
this market since its infancy, each of the thirteen chapters
introduces and analyzes a new product and explains its practical
applications. A rich set of real-life case studies illustrate the
application of each product in a concrete market setting. The book
may be used in a semester-long course on structured credit as part
of a business or finance curriculum. Whether you are a market
professional, a university student or faculty member, or simply a
financially savvy layperson, look no further for an up-to-date and
thorough introduction to this rapidly growing and exciting
field.

Dr. Arvind Rajan, Managing Director, Citigroup Global Markets,
is engaged in proprietary trading of Structured Credit products,
and until recently, was global head of Structured Credit Research
and Strategy at Citigroup. Glen McDermott (New York, NY) is
Director of Fixed Income Sales and the former head of CDO Research
at Citigroup Global Markets Inc. Ratul Roy is head of CDO Strategy
for Citigroup Global Markets and has spent the prior nine years in
structuring or analyzing CDOs and other structured credit
products.

Autor

ARVIND RAJAN, PHD, is a Managing Director at Citigroup, where he engages in proprietary trading of credit, structured credit, and emerging markets. He was previously co-head of U.S. Fixed Income Strategy (2004-2005) and global head of Structured Credit Research and Strategy (2003-2005). Rajan was twice ranked first and once second in the All-America Fixed Income Research poll by Institutional Investor magazine. He has more than two decades of experience in modeling and quantitative analysis. GLEN MCDERMOTT, JD, is a Director in the Structured Credit Sales Group at Citigroup Global Markets. Previously, McDermott was a highly ranked research analyst and global head of CDO Research and Strategy at Citigroup for five years (2000-2005). Prior to joining Citigroup, McDermott worked for six years (1994-2000) at Standard & Poor's Ratings Services where he analyzed many structured finance asset classes. McDermott's work has been published in numerous scholarly journals, and he is also a contributor to the Salomon Smith Barney Guide to Mortgage-Backed and Asset-Backed Securities, also published by Wiley. RATUL ROY is Head of CDO Strategy for Citigroup Global Markets. Before taking on his current role in 2005, Roy was head of European CDO Strategy--a position he occupied in 2003 after spending the prior seven years in structuring or analyzing CDOs and other structured credit products. This included positions in UBS Capital Markets (1995-1997), Chase Manhattan Bank (1997-1999), Standard & Poor's (1999-2000), and finally, as a cash CDO structurer in Citigroup's London office (2000-2003). Roy holds a PhD in chemical engineering from Cambridge University, England.

Rezensionen

"The Structured Credit Handbook is an outstanding
achievement. It provides and excellent and well-written tutorial on
all aspects of structured credit markets and includes many
interesting examples and applications. The book brings a wealth of
institutional knowledge together with first-class economic analysis
by some of the leading practitioners in the field. Rejan,
McDermott, and Roy have written the definitive reference that
students, researchers, investors, and market professionals have
been waiting for."--Francis Longstaff, Allstate
Professor of Insurance and Finance, UCLA Anderson
School of Management

"The Structured Credit Handbook is a unique blend
of products and trading strategies. This is an authoritative and
colorful treatment designed for investors and sales-and-trading
professionals covering structured credit products. All of the key
products are covered."--Darrell Duffie, Dean Witter
Distinguished Professor of Finance, Stanford
University

"Finally, a clearly written and comprehensive road map of
the world of structured credit! The Structured Credit
Handbook incisively analyzes the entire spectrum of structured
credit products, from single name CDS to CDOs. Well-suited for
students and practitioners alike, this book provides a unique,
practical framework for understanding this complex and rapidly
changing field. This book is destined to become a fixture in
trading rooms, investment departments, and classrooms around the
world."--Ian Lui, Chief Investment Officer and
Christopher Ni, Deputy Chief Investment Officer, Shin Kong Life
Insurance Co. Ltd.

Produkt-Details

• Erscheint lt. Verlag: 20.8.2007
• Reihe/Serie: Wiley Finance Editions
• Reihe/Serie: Wiley Finance Editions
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Themenwelt: Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Bankbetriebslehre
• Schlagworte: Finance & Investments • Financial Engineering • Finanztechnik • Finanz- u. Anlagewesen
• ISBN-10: 0-470-10008-7 / 0470100087
• ISBN-13: 978-0-470-10008-0 / 9780470100080