Credit Derivatives by Janet Tavakoli

Credit Derivatives & Synthetic Structures: A Guide to Instruments and Applications (2nd edition), John Wiley & Sons 2001, by Janet Tavakoli, is the groundbreaking global bestseller in the field and is the definitive work on credit derivatives applied to structured finance. In this classic guide to products and concepts, Tavakoli makes the case for profitable hedging and investing." More quotes at bottom of page.

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Credit Derivatives & Synthetic Structures contains clear and comprehensive explanations of total return swaps, credit default swaps, exotic structures, first-to-default options, credit linked notes, synthetic structures, sovereign risk, and convertibility options. This book describes the strengths and weaknesses of models and the real world performance of various credit derivative products.

Tavakoli presents the most comprehensive explanation of total return swaps (total rate of return swaps) available. Also explains the rationalization of payers and receivers in total return swap transactions and explains the use of total return swaps by hedge funds. Investors, structurers, hedge funds, regulators, banks, insurance companies, investment banks, mutual fund managers, hedge fund managers, and corporate managers have purchased Credit Derivatives & Synthetic Structures making it the global bestseller in the field.

This book contains term sheets and actual trading examples for credit derivatives, total return swaps, and credit linked notes translate theory into practical examples that give credit derivatives market participants the confidence to begin trading the products.

Praise for Credit Derivatives & Synthetic 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
Robert R. McCormick Distinguished Service Professor Emeritus,
University of Chicago Graduate School of Business

“Credit Derivatives & Synthetic Structures describes common and exotic credit derivatives as well as synthetic securitizations. Strongest sections are on total return swaps and their use by hedge funds.”

International Swaps and Derivatives Association, Inc.

"Tavakoli brings extraordinary insight and clarity to this fascinating financial evolution. She combines her extensive experience and deep understanding of the derivatives markets with a lucid writing style that makes this an eminently readable volume. This book should set the standard for credit derivatives texts for years to come."

Carl V. Schuman
Director, Structured Credit
Calyon Securities (New York)

"Tavakoli does a remarkable job compiling a highly readable and much needed guide to instruments and applications of credit derivatives. Using charts, examples, basic investment theory, and elementary mathematics, Tavakoli explains the real-world practice and applications of credit derivative products. Credit Derivatives clarifies often misunderstood concepts and offers a framework with which to analyze derivatives and how to make them work."

Stephen Wade Former Managing Director, UBS Securities LLC
Hei Wai Chan, PhD, Former Director, UBS Securities LLC