Reverse Engineering + WS [With CDROM]

A serious source of information for those looking to reverse engineer business deals

It's clear from the current turbulence on Wall Street that the inner workings of its most complex transactions are poorly understood. Wall Street deals parse risk using intricate legal terminology that is difficult to translate into an analytical model. Reverse Engineering Deals on Wall Street: A Step-By-Step Guide takes readers through a detailed methodology of deconstructing the public deal documentation of a modern Wall Street transaction and applying the deconstructed elements to create a fully dynamic model that can be used for risk and investment analysis.

Appropriate for the current market climate, an actual residential mortgage backed security (RMBS) transaction is taken from prospectus to model by the end of the book. Step by step, Allman walks the reader through the reversing process with textual excerpts from the prospectus and discussions on how it directly transfers to a model. Each chapter begins with a discussion of concepts with exact references to an example prospectus, followed by a section called Model Builder, in which Allman translates the theory into a fully functioning model for the example deal. Also included is valuable VBA code and detailed explanation that shows proper valuation methods including loan level amortization and full trigger modeling.

Aside from investment analysis this text can help anyone who wants to keep track of the competition, learn from others public transactions, or set up a system to audit one's own models.

Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.

Author: Keith A. Allman
Publisher: Wiley
Published: 12/01/2008
Pages: 224
Binding Type: Paperback
Weight: 0.88lbs
Size: 9.00h x 7.40w x 0.60d
ISBN13: 9780470242056
ISBN10: 0470242051
BISAC Categories:
- Business & Economics | Investments & Securities | General
- Business & Economics | Industries | General
- Business & Economics | Finance | General

About the Author
Keith A. Allman is a capital markets professional with a specialization in analytics and modeling. He is currently the principal trainer and founder of Enstruct, a quantitative finance training company, as well as a Managing Director with NSM Capital Management. Prior to this, Allman was a vice president at Citigroup's Global Corporate and Investment Bank. He has also worked for MBIA Corporation in their Quantitative Analytics division. Allman is the author of Modeling Structured Finance Cash Flows with Microsoft Excel, which is published by Wiley.

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