[Janet M. Tavakoli]Collateralized Debt Obligations and Structured Finance, John Wiley & Sons 2003

Janet Tavakoli examines a variety of finance topics never before seen in print. Collateralized debt obligations (CDOs), credit derivatives, and other new structured finance techniques confound financial regulators. Tavakoli combines mathematics and skepticism to tackle the burning issues in the post-Enron financial world with clarity and authority.

In Collateralized Debt Obligations & Structured Finance, Tavakoli explains that many investors who thought they owned AAA credits will discover to their dismay that their investments are riskier than they realized. In fact, their investments do not merit an AAA rating. Many investors in CDO equity will find they were short-changed on the cash flows they thought they owned. Many capital markets managers will discover their employees are running hedge funds and propping up their bonuses while stuffing the trading books with undisclosed risks. Tavakoli unveils this and more while offering solutions and deterrents.

Tavakoli reveals the abuse of offshore vehicles by institutions as diverse as the Vatican Bank and Enron. She points out how easy it is to pull off international financial chicanery, and how equally easy it is to prevent it. Collateralized Debt Obligations & Structured Finance gives the most detailed explanation of the uses of offshore vehicles currently available in financial publications.

Structured finance is a powerful tool, and despite the shortcomings Tavakoli is a proponent. In Collateralized Debt Obligations & Structured Finance, she makes the case that is a necessary tool to the continued development of financial management. For every problem, Tavakoli suggests a reasonable solution.

“Caveat Emptor! Never in the history of finance has this warning been more appropriate. With the development of CDO’s, Credit Derivatives and other esoteric structured finance techniques, market participants—the savvy as well as the novice—are exposed to a bewildering array of new ideas, concepts and structures. Janet Tavakoli has tackled these subjects in an outstanding mixture of exposition, mathematics and skepticism. A must read for anyone who plans to play in these markets.”----Jack Caouette, Vice Chairman, MBIA Insurance Corporation

详细介绍见http://www.tavakolistructuredfinance.com/structuredfinance.html

按照坛子里的规定，本来应该定价70，还是感觉太贵了，好书还是多传播为好。

[此贴子已经被作者于2006-4-14 17:17:15编辑过]