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Janet
Tavakoli
Derivatives and
Securities Expert, Consultant, Author, Speaker
Janet
Tavakoli is
the founder and president of Tavakoli Structured Finance,
Inc.
(TSF),
a Chicago based consulting firm providing expert experience
to maximize the value of derivatives
and structured products and avoid getting burned. TSF
consults for financial institutions, institutional
investors,
and
hedge funds.
Ms.
Tavakoli is a world renowned author and speaker on derivative
products and securities and their systemic risks and
granular rewards. She has appeared as an expert before
forums of the International Monetary Fund, the Federal
Reserve Bank, the Office of the Comptroller of the Currency,
and the Securities and Exchange Commission.
Her
books, Structured
Finance & Collateralized Debt Obligations (2003,
2008), and Credit
Derivatives (1998, 2001) revealed grave flaws in the
methodology for rating structured financial products and abuses
in the credit derivatives markets. |
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Ms.
Tavakoli also provides exceptional quality expert report writing
and crisp, persuasive testimony. Plaintiff engagements include
Bank of America N.A. et al. v. Bartmann, JPM Chase, et al.;
total claims in the consolidated litigation exceeded $1.2 billion,
and Merrill Lynch & Co. Inc. Securities, Derivative
and ERISA Litigation, 07-9633; total claims in the consolidated
litigation were $550 million. Engagements
include representatives of plaintiffs or defendants depending
on the issues.
Her letter
to the SEC posted in February 2007 in response
to proposed rules for the credit rating
agencies makes the case that the NRSRO designation for
the rating agencies should be revoked for structured
financial products. Ms.
Tavakoli was years
ahead of the financial industry predicting
lax underwriting, excessive
leverage, and misrating of structured products
would result in a global financial crisis. The University
of
Chicago profiled her as "Structured
Success," and Business Week as "The
Cassandra of Credit Derivatives."
Ms.
Tavakoli is frequently published and quoted in
financial journals including The Wall Street Journal,
The Financial Times, New York Times, The Economist, Business
Week, Fortune, Global Risk Review, RISK,
IDD, Chicago Tribune, Los Angeles Times, LIPPER HedgeWorld,
Asset Securitization Report, Journal of Structured Finance,
Investor Dealers' Digest, International Securitization Report,
Bloomberg News, Bloomberg Magazine, Credit, Derivatives Week,
TheStreet.com,
Finance World, and others.
Frequent television appearances
include CBS's 60 Minutes, CNN,
C-Span, CNBC, BNN, CBS Evening News, Bloomberg TV, First
Business Morning News, Fox, ABC, and BBC.
Janet
Tavakoli has over 22 years of Wall Street experience in
finance. Tavakoli has traded,
structured and sold derivatives and structured products
at
major financial institutions in New York and London. Prior
to that, Tavakoli was the manager of financial strategic
planning
for two Fortune 500 companies. She is a former adjunct
associate professor of finance at Chicago Booth (the University
of Chicago's Graduate School of
Business) where she taught "Derivatives: Futures, Forwards,
Options and Swaps".
Janet Tavakoli is the former Executive
Director, Head of Financial Engineering in the Global Financial
Markets
Division at Westdeutsche Landesbank in London. She headed market
risk management for the capital markets group for Bank One
in
Chicago. Tavakoli headed the asset swap trading desk at Merrill
Lynch in New York, headed mortgage backed securities marketing
for Merrill Lynch in New York, and headed mortgage backed
securities marketing to Japanese clients for PaineWebber in
New York.
She also worked for Bear Stearns heading marketing for quantitative
research and for Goldman Sachs.
During
her career, she has been registered and licensed with the SFA,
NASD, ASE, CBOE, NYSE, PSE and the NFA
and has passed the series 7, 63 and 3 qualifying exams.
Illinois Institute
of Technology: B.S. in Chemical Engineering
University of Chicago Graduate School
of Business: MBA in Finance
Adjunct
Associate Professor of Finance [Derivatives] (1999 and 2000)
at the University of Chicago Graduate School of Business
Mistaken
Identity: Janet Tavakoli Is Not the "Queen of RAVs"
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Structured
Finance and Collateralized Debt Obligations:
Developments in Cash and Synthetic Securitization
(Wiley Finance) September
2008
Completely
updated and state-of-the-art look at the CDO and structured
credit products market. Comprehensive overview of the
market and key issues in valuing structured financial
products with important quality control issues. Coverage
begins with an overview of market basics, technology,
subprime and Alt-A special issues, special purpose entities,
total rate of return swaps, cash and synthetic arbitrage
CDOs, CDO equity structures, selling CDO equity, balance
sheet CDOs, risk and return, the role of the rating agencies,
and credit hedge funds.
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Credit
Derivatives and Synthetic Structures, 2nd
Edition, John Wiley & Sons, 1999, 2001 (also
in Japanese and Orthodox Chinese)
Merton
H. Miller, winner, Nobel Prize in Economics, 1990, Robert
R. McCormick Distinguished Service Professor Emeritus, University
of Chicago Graduate School of Business
"If you want to know more about credit derivatives-and
these days an increasing number of people do-then you
should read this book."
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Collateralized
Debt Obligations & Structured Finance: New Developments
in Cash and Synthetic Securitization,
John Wiley & Sons, 2003, by Janet Tavakoli.
Jack Caouette,
Vice Chairman MBIA Insurance Corporation
“Caveat Emptor! Never before 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. ”
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