O'Reilly logo

CDS Delivery Option: Better Pricing of Credit Default Swaps by David Boberski

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

INTRODUCTION
The emperor has no clothes. Three of 2008’s more dismal events illustrate the point:
• More than twenty of the world’s largest banks and securities firms, most with carefully cultivated reputations for excellence in risk management, reported combined losses of $500 billion from investments in subprime mortgages and their derivatives (according to Bloomberg News).
• Bear Stearns, a firm that prided itself on its acumen with structured mortgage products, was bailed out by the Federal Reserve and merged with JPMorgan Chase after troubles that had begun a year earlier in two of its hedge funds. In just a few months’ time, funds that had produced years of steady gains saw their assets marked down to a few cents on the dollar.
• Société ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required