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Janet
Tavakoli
Derivatives and
Securities Expert, Consultant, Author
Janet
Tavakoli is
the founder and president of Tavakoli Structured Finance,
Inc.
(TSF),
a Chicago based consulting firm providing expert experience
and knowledge about maximizing value in the capital markets
in the face of complexity and uncertainty. TSF
provides consulting services to financial
institutions, institutional
investors, and hedge funds.
Ms.
Tavakoli was years ahead of the financial industry predicting
lax underwriting and misrating of structured financial
products would result in
the collapse of the global credit bubble. She
also predicted the collapse of the
thrift industry, Long Term Capital Management, and First Alliance
Mortgage prompting Business Week to profile her as "The
Cassandra of Credit Derivatives." [2008].
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Ms.
Tavakoli pointed out grave flaws
in the methodology
for
rating
structured
financial products in her books, Structured
Finance & Collateralized Debt Obligations (2003,
2008), and Credit Derivatives (1998, 2001). She
wrote the first letter the SEC posted in February 2007 in
response to its proposed rules for the credit rating
agencies; she made the case that the NRSRO designation for
the rating agencies should be revoked for structured financial
products.
Ms.
Tavakoli is frequently published and quoted in financial
journals including The Wall Street Journal, The Financial
Times, 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 CNN,
CNBC, BNN, CBS Evening News, Bloomberg TV, First
Business Morning News, Fox, ABC, and BBC.
Ms. Tavakoli is a world
renowned author and speaker
on derivative
products and securities and their risks and 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.
Tavakoli
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
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.
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.
Ms. Tavakoli also provides expert consulting
and expert witness work including 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.
Engagements include representatives of
plaintiffs
or
defendants
depending
on the issues.
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
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Dear
Mr. Buffett: What An Investor Learns 1,269 Miles
from Wall Street
(Wiley,
January 2009) In bookstores everywhere January
12, 2009. Now
available
on Amazon.
Janet
Tavakoli takes you into the world of Warren Buffett
by way of the events leading up to the worst global
finanical meltdown in the history of the world.
In correspondence and discussion with him over
3 years, they both saw the writing on the wall. Dear
Mr. Buffett is a witty well-told account of
how principle triumphs over greed and panic, and
is a must-read for all those seeking the timeless
wisdom that has beaten, and continues to beat,
the market.
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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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Janet
Tavakoli is the author of the global bestseller Credit
Derivatives and Synthetic Structures, 2nd
Edition, John Wiley & Sons, 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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