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The Elements of Structured Finance (Hardcover, New)
Loot Price: R2,993
Discovery Miles 29 930
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The Elements of Structured Finance (Hardcover, New)
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For all but the most credit-worthy companies, it is more efficient
to finance large pools of assets that have predictable behavioral
characteristics through non-standard arrangements. These
off-balance sheet structures allow credit exposures to be tailored
to investor risk, asset class, and an ever-increasing diversity of
idiosyncratic needs on the part of issuers and investors. The
discipline that addresses these structures, which is called
structured finance or securitization, is almost twenty years old,
and has become a pervasive element of modern financial management.
Yet, it has not been systematically covered in a textbook designed
for both the school and workplace contexts. The Elements of
Structured Finance, the text version of a program of instruction in
structured finance that the authors have offered at NYU and Hong
Kong University, as well as in private training programs and
consultancies, fills this void spectacularly. Raynes and Rutledge,
two very highly regarded teachers and consultants in the field,
bring clarity and logic to an inherently complex and frightening
area of finance, using their extensive experience working with many
of the top Wall Street securities houses. The book begins with the
relatively simple concepts of static valuation models and the
benchmark pool, and takes the reader through the more esoteric
features of dynamic risk analysis, thus serving as both an
introduction for the beginner and a helpful reference for the
professional. In addition to participants in structured finance
programs, this book will appeal to structured finance analysts and
managers at banks, asset management companies, insurance companies,
and a wide variety of other corporations.
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