By John Waggoner
In "Bailout," John Waggoner solutions the basic questions surrounding fresh industry catastrophes--from the failure of endure Stearns to the credits crisis--and unearths how one can shield your portfolio in the course of those turbulent occasions. Waggoner deals a variety of ideas to aid your portfolio climate this typhoon, together with rebalancing and utilizing foreign currency, and discusses how Treasury bonds, gold, commodities, and actual property can solidify your monetary status. With the specialist suggestion stumbled on the following, you'll quick notice what it takes to accomplish security and luck in today's unstable industry.
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Additional info for Bailout: What the Rescue of Bear Stearns and the Credit Crisis Mean for Your Investments
Note that this section exists in most financial transactions that are supported by collateral. If this were an auto loan transaction there would be data on credit scores, debt-to-income, vehicle make, model type, and so on. Or on more esoteric deals such as insurance you would have descriptions of a pool of insured individuals with relevant statistics about age, gender, health, and so on. c03 JWBT003-Allman 32 October 19, 2008 13:46 Printer: Yet to come REVERSE ENGINEERING DEALS ON WALL STREET WITH MICROSOFT EXCEL Regardless of the type of transaction, if the deal is collateralized, there should always be a section describing the collateral in detail.
The assets cash flow and deal liabilities will be recreated as if the transaction were being issued on the closing date. All funding amounts and balances for the first period will be as stated in the prospectus. Actual performance will be assumed to be unknown and any delinquency, default, or prepayment will be based on either the prospectus or from a separate analysis. The other option, called the Current Method, is to reverse engineer the deal focusing on the current period and actual transaction history that has taken place thus far.
13. The next section to work on is the Deal Date column. The Deal Date corresponds to the transaction relevant dates. Typically this will start with the closing date and increase, falling on the distribution dates. On the Vectors sheet in cell B8, enter the following formula: =IF(A8=0,gbl_ClosingDate,IF(A8=1,gbl_FirstPayDate,EDATE(B7,1))) c02 JWBT003-Allman 24 October 19, 2008 13:44 Printer: Malloy REVERSE ENGINEERING DEALS ON WALL STREET WITH MICROSOFT EXCEL Copy this formula from cell B8 down through cell B508.
Bailout: What the Rescue of Bear Stearns and the Credit Crisis Mean for Your Investments by John Waggoner