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Credit Derivatives & Synthetic Structures: A Guide to Instruments and Applications, 2nd Edition 2nd Edition
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Here is the only comprehensive source that explains the various instruments in the market, their economic value, how to document trades, and more. This new edition includes enhanced treatment of U.S. and worldwide regulatory issues, and new product structures.
"If you want to know more about credit derivatives--and these days an increasing number of people do--then you should read this book."
--Merton H. Miller, winner, Nobel Prize in Economics, 1990
"Tavakoli brings extraordinary insight and clarity to this fascinating financial evolution . . ."--Carl V. Schuman, Manager, Credit Derivatives, West LB New York
Janet M. Tavakoli (Chicago, IL) is Vice President of the Chicago branch of Bank of America, where she directs the company's overall marketing of global derivatives and manages its CreditMetrics initiative.
- ISBN-10047141266X
- ISBN-13978-0471412663
- Edition2nd
- PublisherWiley
- Publication dateJune 29, 2001
- LanguageEnglish
- Dimensions6.4 x 1.2 x 9.3 inches
- Print length304 pages
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Product details
- Publisher : Wiley
- Publication date : June 29, 2001
- Edition : 2nd
- Language : English
- Print length : 304 pages
- ISBN-10 : 047141266X
- ISBN-13 : 978-0471412663
- Item Weight : 1.35 pounds
- Dimensions : 6.4 x 1.2 x 9.3 inches
- Best Sellers Rank: #4,136,416 in Books (See Top 100 in Books)
- #1,383 in Accounting (Books)
- #1,830 in Money & Monetary Policy (Books)
- Customer Reviews:
About the author

Janet Tavakoli is an internationally recognized finance expert and author of acclaimed nonfiction and gripping fiction thrillers. Business Week called her the "Cassandra of Credit Derivatives" for predicting the financial crisis. She's frequently quoted in The Wall Street Journal, Financial Times, and New York Times.
As founder of Tavakoli Structured Finance, she's appeared on CBS's 60 Minutes, CNN, CNBC, and Bloomberg TV. She earned degrees in chemical engineering and finance from the University of Chicago's Booth School.
Her finance books include Credit Derivatives and Structured Finance and Structure Finance and Collateralized Debt Obligations. In fiction, she wrote Archangels: Rise of the Jesuits and science fiction under pen name Michael K. Clancy.
Visit tavakolistructuredfinance dot com to learn more about her finance books. Visit janettavakoli dot com for updates on her novels.
Customer reviews
Customer Reviews, including Product Star Ratings help customers to learn more about the product and decide whether it is the right product for them.
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- Reviewed in the United States on May 27, 2003Format: HardcoverThe author (plus various reviewers) touted this book as an accessible primer to derivatives. This prompted me to try it out. After 40 pages I realized this book was actually meant for people with AT LEAST basic degrees in finance. If you don't have a decent finance background, you'd be busy CHEWING gingko biloba at the end of the TRORS chapter.
In a nutshell, If you are like me (fresh off books like Beating The Street or Stocks For the Long Run), this is not the next step. Maybe you should get that MBA first.
- Reviewed in the United States on October 15, 2005Format: HardcoverThis is my fourth purchase; this one is for a new analyst I hired. I have read Janet Tavakoli's book as well as all of the current literature on credit derivatives. This book is one of the best books on derivatives I have read in terms of style of writing and content (I'm not after the mathematics on finance; there are plenty of those). I am a current successful credit derivatives trader.
- Reviewed in the United States on October 31, 2006Format: HardcoverVerified PurchaseThis is a good book about how credit risk derivatives are handled in the daily practice of a big international bank. Although the author clearly knows her math the book contains hardly any formula. Since I am a model builder and most clients of our treasury consultancy firm are medium seize companies there initially was a misfit. However this book is a very good antidote for people putting too much faith in mathematical models. I can not help being one of them. I liked the down to earth approach very much. In the end I learned a lot more than I thought I would.
- Reviewed in the United States on March 24, 2004Format: HardcoverPOSITIVE POINTS: Best indepth book on Credit Derivatives. Very readable. Explains very nicely why this derivatives are so important for banks. Non technical.
NEGATIVE POINTS: Focus on banks with only a little chapter on Credit Derivatives as investment products. No explanation how those derivatives are priced (but hey, there are loads of technical books)
- Reviewed in the United States on March 26, 2005Format: HardcoverI am a Fin Math student and by now a Google search expert. I do have this book from my library and it requires patience .
Personally I would keep it that way borrow from a library and read free research on the net with more math. It is a good buy for a practioner who needs to refer various structures and market structure in one place. The author has definetely put in effort to collate all her years of market experience.
- Reviewed in the United States on November 7, 2003Format: HardcoverThis book is outdated for practitioners, but may be of some use to summer interns or undergraduate students. While there are many glowing reviews of this effort they are dated and, quite frankly, examples of puffery. The author must spend her spare time writing book reviews for Amazon. The book has had its moment, but that moment was several years ago. I would encourage others to look for another text.
- Reviewed in the United States on March 30, 2007Format: HardcoverGreat book for introduction of CDS and other structured products. I work in risk and this book helped clarify several things.
Top reviews from other countries
- Bondi_DanReviewed in the United Kingdom on August 8, 2016
3.0 out of 5 stars Written before the advent of the "Euro" much of the novel is irrelevant
Format: HardcoverVerified PurchaseThis was an "OK" book. Ms. Tavakoli knows hers stuff, for sure, however I found the way she packaged her examples in a "plain vanilla wrapping" a little confusing. Would have been better saying "Company A" needs this . . . . rather than Buyer/Offerer etc.
Written before the advent of the "Euro" much of the novel is irrelevant as great focuses on geo-political machinations of smaller, now former, European currencies.
If you know nothing this will help you understand Derivatives better, but this is not a text book.
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TMReviewed in France on July 8, 2016
3.0 out of 5 stars Une mise à jour serait bienvenue
Format: HardcoverVerified PurchaseCe marché, comme bien d'autres, a été considérablement remis en cause par la crise de 2008. L'ouvrage ne démérite pas, mais gagnerait dès lors à être actualisé pour tenir compte de la nouvelle donne, notamment réglementaire.
- The ReaderReviewed in the United Kingdom on February 8, 2013
4.0 out of 5 stars Good Book
Sometimes difficult to read but a great knowledge source for credit derivatives. If you get this you will learn an awful lot about derivatives
Well worth the effort