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I have attached introduction to the covered bonds...

I am kind of thinking initiating coverage on Financials and see when can I buy them. I will wait for the bottom which is yet to come, and then buy these goddamn investment bank stocks again .. btw the new kid on the block will be "Covered Bonds" lemme know if you guys need introductory...

About 3 million U.S. borrowers have Alt-A mortgages totaling $1 trillion, compared with $855 billion of subprime loans outstanding, according to Inside Mortgage Finance, a trade publication in Bethesda, Maryland. Of the Alt-A borrowers, 70 percent may have exaggerated their income, said David...

This recession color from Mr Buffet did evoked a lot of emotional response. This time recession is different. This time healing will be slow

In a nutshell, yes, but not in the way the industry hopes. In a Financial Times article. Gillian Tett files a somewhat dumbfounded report from the European Securitization Forum in Cannes. While the event has gone wildly downscale from last year's bash, the participants were hopeful that the...

Could this legal squabble between Merrill and SCA have implications for billions of dollars of CDOs? The squabble is a lawsuit filed by monoline SCA against Merrill Lynch. Merrill Lynch had already filed a lawsuit against SCA in mid-March. So this latest broadside is a retaliatory effort. The...

Thanks a lot guys for the wishes.. Well SP was in full swing to give me Bday knocks but I was able to dodge him ... How is everyone doing?

This model overestimates the value of the correalation implied from the market spreads. JPM came up with a new model but it is a very good model for the first time use. Thanks a lot for it. I am going to spend my time over next week to tweak the model

use in the convexity of the underlying bond as well with the duration .

Thanks a lot guys for your wishes. Woody I still did not get Mac for myself. I am now dreaming of getting a Mac Air. I wish success for everyone in our program ..

No amount of financial engineering or SIVs will turn a bad loan into a good one. Sooner or later banks (or ABS investors) will have to recognize the loss — unless they can get the taxpayer to foot the bill. There are no appeals for a bailout yet, but do not be surprised to see this idea floated...

Yes .. and the worst is that they can come out with more bad news. But I guess the earlier the better. Later on it will be really messy to get out of entanglement.

Roots of credit crisis laid at Fed's door Regulatory minimalism allowed risky practices to flourish, expert says By Greg Robb, MarketWatch WASHINGTON (MarketWatch) -- In the wake of the financial market turmoil...

Ambac Posts First Loss as Subprime Bond Prices Drop (Update6) By Christine Richard Oct. 24 (Bloomberg) -- Ambac...

Merrill Lynch Reports Loss on $8.4 Billion Writedown (Update6) By Bradley Keoun...

Hi Amsh, I am aware of the fact that at IIT madras the electrical department is fairly tough so your CGPA is not that bad. My friends who graduated from IIT M still bleed :) from the blows. You have already done the basic courses in Math that is needed in Finance except for Stochastic...

You are all set to get dirty on wall street. I also had my undergrad in EE. Learn VBA and Excel. the most important course will be stochastic analysis for finance. if you do this you are all set.

Prof Randy's speech was incredible.

ANNANDALE, Va. (MarketWatch) -- Little noticed in the wake of the Federal Reserve's rate cuts one week ago is how much steeper the yield curve has become. That usually would be taken to mean that the risk of a recession has lessened. I think it is significant that it hasn't received...

Recessions in the economy builds immunity. I am looking forward to see the antigens and antibodies US economy will be seeing it in next few days.

thanks PAUL ... "thou shalt not fear the derivatives ... its derivatives of derivatives that should be fear" synthetics of synthetics is very dangerous...This credit crunch in summers exposed the POWER OF CONSUMERS who drive the markets now and NOT THE FED. I guess rating agencies did the...

SAN FRANCISCO (MarketWatch) -- After reaching their highest level since 1980, gold prices may be due for a correction soon, but that could help feed what many expect to be a long-term boom -- to $800 and then inflation-adjusted highs past $2,000 in the years to come. Gold for December...

Amazing article.. Thanks .. Points I took from this article 1. Fed cannot "Correct" everything. 2. Japanese economic history may repeat at global standards 3. Data releases will drive the US markets now and world markets of course. Did Das mentioned about China. It would be great to read...

Finally .. wall street got what it wants ... obviously .. Bernake did not want a dead cat of recession in his bag ......I hope the dance of Dollars will be spectacular and good bonuses this year and more EMPLOYMENT Opportunities.... BEST OF LUCK TO ALL OF US ... we all needed this fed cut for...

Market itself is a super efficient portfolio. One cannot beat it all the time. The research gives comfort to the decision backed by necessary maths so that one does not miss the obvious information of the numbers. Experience does counts finally.

Is price equal to the value? This is a very subtle yet important topic to think about. I am again summarizing from a book "Capital Ideas" for the benefit of the starters of the program. I recommend this book strongly. I am not quoting the book verbatim and will try to put my thoughts in it...

Today the markets sold off in the morning.. stock markets are like rodeo clowns these days. vol is huge... lets see now what markets will expect of the Fed. ..

Bachelier: Past present and even discounted future events are reflected in the market price, but often show no relevant relation to the price changes. Artificial causes also intervene,the Exchange reacts on itself,and the current fluctuation is a function of not only current and previous...

Yes its not relevent at the employee level. and this is even more malicious if they are not paying employees much from the revenues generated from rating structured finance securities...

Sure I will look if the book is still available and will email back ...

Stocks sold off again today. Market continues to be very volatile. All major indexes are losing weeks gain and plunging into negative terretory. This time ... it is employment data. "Any news is bad" for the markets at this time of the year. "It's a major shock to the market," said Peter...

The compensation comparision mentioned above DOES NOT REFLECT ANY POINT for the current status of the rating agencies. No matter how much you are paid , I DONT BELIEVE that it has anything to do with "how one will rate the bonds" at employee level. I think that discussion in the last reply is...

Hahahha .... cheesy article ... freakonomics kind of stuff ... well done though ..

Can you post your profile with some more details.

My Gosh .. see the daily volatility. This is not a healthy sign for a "DEVELOPED MARKET" like US. All eyes are set up against Fed. Fed is not budging aginst the market pressure of the rate cut making inflation as its base for the decision. Consumer sentiment is really depressing at this moment...

Hi, Please let me know if anyone is interested in buying a paper back with CD latest edition of the book "Options Futures and Derviatives" by Jon C Hull. I have 2 extra copies of the book Aeron

Hi, Is there anyone interested in buying the book. I came across one guy who is selling the book at a discounted price. Do let me know in case anyone needs the book so that I can arrange the number of copies. Thanks Nalin

They are not on holidays... They are looking for a comfortable old age homes .. lol .. sure dude .. catch u in the school ...

They use a seperate method to do the VIX calc. There is a white paper on the website of CBOE if you are interested. well lets have a view on the markets for the next week.

CDOs have lost their face and creditibility. Also if there are no new issuance then then you will not be able to get new tranches after the securtization. So if you want to take the advantage of the having a portfolio of mixed vinatges with higher proportion of the latest ones you will miss out...

Currently Vix is naer 32.. last 3 year high!!! ... If you guys remember May 2005 when the auto giants were in trouble with the Airliners I saw viz jumped to higher teens. but today its almost double. We can just imagine the panic in the markets. I have always used vix as a PaincMeter for...

Well if you guys see the equity indexex again DJI is battling at 13000. May be we can see the Fed action resulting a plateau at 13000 for DJI and similarly respective levels of oher indexes. Lets see how Friday 17 Aug ends. p.s Eddie it woud be great if you can copy the news and paste it...

i am a big admirer of VIX. I am planning to start working on VIX again and see if we can see some interesting results...

hahhah ... I can totally agree with the damn running low on cigarettes situation.... and yeah you are right on the secritzation. banks dont want future cash flow assets on their balance sheets anymore...

This guy at 80 can still move the markets.. and I hate this idea of thinking every time "Who moved my cheese" I acknowledge his daredevil attempt to be working instead of relaxing but I dont agree with his views anymore. And from the investors point of view I dont want to make the markets...

Did u see the movie "300" . Did u see the scene where mesenger was thrown in the well. Mr Greenspan is now becoming an irritant to the markets. He lost his sanity. If somebody will threaten my investment he will be decimated :P just like the messenger in "300". I think he should retire now. This...

Boom ... Swish ... Vrooom .... Aaaaayeeeeeee...Slideeeeeeeee......Booommm If each tick in the stock market index could be associated with some kind of sound the music will be really intestesting to hear. As a spectator with the morining coffee, happy lunch and evening coffee seeing the equity...

what is the basis of your speculation. Is it just a guess or you have hard facts to support 10% shift in the index. ... and the equities can go down further. but counter arguement is that Cash has to flow to somewhere. if there is no interest in Struct Finance exotic products then money has...

I want to SHOOT Greenspan.. Anyone ready to hop the wagon...

But where we will see this lending. If banks are concerned about their own liquidity then it is hard to imagine that they will lend the same money to other guys. May be they will charge a hefty peice. I remember one article on bloomberg which quoted CDO having TOXIC WASTE and that this will...

Moody's, S&P Lose Credibility on CPDOs They Rated (Update1) By John Glover and Shannon D. Harrington Aug. 14 (Bloomberg) -- Moody's Investors Service and Standard & Poor's, the arbiters of creditworthiness, are...

Banks not accepting credit portfolios as collateral: report By Steve Goldstein LONDON (MarketWatch) -- U.S. banks caught in the credit...

US Consumer Spending US Consumer Spending: Consuming America By Dr. Kurt Richebacher One has to realize that all the increase in US consumer spending is borrowed. And it is borrowed against rising house prices. In 2001, Greenspan replaced the bursting stock market bubble with the housing...

Stocks Retreat After Banks Add Liquidity Monday August 13, 4:30 pm ET By Lauren Villagran, AP Business Writer-- Wall Street gave up a moderate gain in late trading and closed marginally lower Monday after the Federal Reserve and other central banks added more cash to their banking systems...

One 'Quant' Sees Shakeout For the Ages -- '10,000 Years' By KAJA WHITEHOUSE August 11, 2007; Page B3 Matthew Rothman is used to working with people who pride themselves on their rationality. He's a "quant," after all, one of a legion of Ph.D.s on Wall Street who use the emotionless rules...

Commenting on your correlation number which is very high I can say that in markets like today the cross sector correlation go high. The analysis you did will only tell you the information about the correlation trade. For e.g. you can say that correlation is very high right now and in the near...

I love to HATE IPHONE and I HATE TO LOVE IPHONE... what a dilema ...

I am not sure about myslef. But I wll be there after 7. Will see you guys in action tonight..

I had awesome Indian Buffet .... spicy and yummy ..

I also lintened the call.. somehow i felt that the trouble is deep. .. i mean he was not answering the important question and it seems to me that he was pre rehearsed. well i still think that someone is gonna blow up in coming months becuase this thing is not going to get quiet if the interest...

Merill liquidated only some of the psitions in the market. Well that was a panic button Merill wanted to test how the marktes will behanve. The drama went well and the "dance of the Bear" to the tunes of CDOs was good. Bear did some damage control. I hope the market stabilizes again.

Try emailing him back with another spam.. if he replies then it wil be fun .. i have tried so many times oto teach these spammers a lesson but heheh they didn reply to the emails. anyways good luck with your philathropy Mike

can u upload it on torrent spy :)

Andy .. should we make another topic area to discuss about the various schoools. I am sure more such queries will start hitting on our website since we have increased the participation and we may want to keep a log of it. Once the thread grows we dont have to explicitly answer all such questions...

If Possible can we propose these books to be bought for Quantnet library. We can start enriching the library.

Wow these guys know cricket... Gavaskar is a famous Indian cricket player Q7 in Part II aptitude test. :) .. thanks andy for the test

you can also get affordable housing in jersey city

Welcome to Qauntnet community. We take proud in our forum for being one of the most informative forums in Finance. Here we try to discuss anything and everything under the sun. Please feel free to speak your mind. There are different categories where you can post your comments. It would be great...

I got this article from net. a quick read ... How will the bull market in stocks end? One scenario is an escalation in long-term interest rates relative to the market earnings yield (inverse of price-earning ratio) to a point where the incentive for takeovers and buybacks is eliminated...

yes as an international student you have to show the whole amount.

NEW YORK (MarketWatch) -- Fourteen floors above Seventh Avenue, in an office more than a mile from the trading floor of the New York Stock Exchange, a trumpet sounds reveille over a loudspeaker. Liquidnet Holdings Inc., an alternative trading system used by institutions, has just executed a...

guys dont buy dell... they are cheap though but very heavy. go for lighter laptops..

Quoting from some article i read a long time back --Nalin Let's consider a hedge fund that is invested in a handful of widely-held large cap stocks. Many components of the Standard & Poor's 500 are levered several times their annual operating earnings, so let's say a fund manager's stocks have...

Subprime crisis not big threat: Buffett But housing slowdown hurting some Berkshire businesses, chairman says By Alistair Barr, MarketWatch Last Update: 4:09 PM ET May 5, 2007 OMAHA, Neb. (MarketWatch) - Rising delinquencies and defaults in the subprime mortgage business probably won't be a...

Arrogance like this is what is the problem, not hedge funds. HF investors have to remind their HF managers to remember the first rule of investing: do not lose money. Instead managers are focused on overcoming a hurdle rate or just being greedy. Some investors are also to blame. When a hedge...

Happy Bday Maceik

Happy Bday.

US Stocks at a Glance Stocks Move Higher Following Jobs Report NEW YORK - Stocks carved out a modest advance Friday after the nation's unemployment rate edged upward as expected in April and investors received a fresh round of takeover news. The Labor Department said the jobless rate rose...

NEW YORK (Reuters) - Hedge funds may now pose the biggest risk of a crisis since 1998, when the implosion of Long-Term Capital Management threatened the global financial system, the New York Federal Reserve said on Wednesday. The statement represented the bank's sternest warning to date over...

In my opinion why the shareholders suffer. They have already suffered from the bankruptcy. This is unfair to the shareholders. I guess they should give at least something to the guys who own the stock before bankruptcy and didn sell them during the last year.

You will be asked genuine questions regarding to the coursework you have done. Be confident and if possible revise the maths courses you have taken. You will quizzed rationally. Good luck

A timeline of key events at Delta Air Lines The Associated Press Key dates in Delta Air Lines' history: -June 17, 1929: Delta starts its first passenger flights over a route from Dallas to Jackson, Miss., via Shreveport...

"As part of Monday's move, existing shares of Delta stock will be cancelled and current shareholders will not receive any compensation for their positions, the airline said. Shares of the new stock will start trading on the New York Stock Exchange on Thursday under the DAL symbol and be issued...

NEW YORK (MarketWatch) -- Delta Air Lines Inc., the No. 3 U.S. domestic carrier, on Monday emerged from Chapter 11 bankruptcy protection after a 19-month restructuring. The Atlanta-based airline said it has reworked operations to focus on international routes and was able to cut its...

Guys Relax.. This other day i was at ISSC for some work and there was a student who wants to submit his papers for I20. Trust me I have seen them interacting. Both the parties were confused at the end. But in the end they somehow were able to communicate what needs to be done. So have...

Hi yiping.. I am an international student from India. I also followed my gut feeling and showed amount a little excess over 62000$.

I am on it... but tell me will it interfere with my windows operating system. I dont know how to install this baby on my laptop..

Hi Marc.. Welcome to Baruch Quantnet community. I am from India. I have taken loan from an indian bank to pay my fees and stuff. May be you can try the funding from a local bank in your country. I am sure they all have education loans. I know one global bank HSBC which provides education loan...

hahah Kangaroos are fine dude ... people here enjoying spring vacation..

thanks for the information. Please do send me the book. thanks

I thank you all for the wishes... I wish everyone of us have wonderful time and success in the program. Nalin Aeron

Begging on Wall Street There are three beggars begging on Wall Street. The first beggar wrote "Beggar" on his broken cup. He received $10.00 after one day. The next day, the second beggar wrote "Beggar.com" on his cup. After one day, he received hundreds of thousands of dollars and an...

"I hear that you drop some money in Wall Street. Were you a bull or a bear?" "Neither, just a plain simple ass."...

Happy Birthday Andy

Indians eat, sleep,drink cricket.Its mainstream game. Next game is hockey... Soccer is not popular in India.

Hi Max, I guess if you take 1 day binomial model and try to find the price of the option there will still be a value. May be this is happening due to the martingale property of the stock price. But by this logic puts should not be zero. I am not sure .. If you find an explanation lemme know

Happy Birthday Eddie.. foget the bumps... and my birthday too... and i hope the "bump" brings good luck to you :-P

Hi Sandeep .. Your profile looks good ... You have the necessary math skills and programming experience. I think GRE scores are valid for 5 years .. but i thinnk you need to check with Professor Stefanica if you need to give it again. if yes then take the date asap as there is always a...

Sure when I will find any more such jokes which are worth posting i will send them across... hehehhe this is so true in big corporations..hehehe

Programmer to Team Leader: "We can't do this proposed project.**CAN NOT**. It will involve a major design change and no one in our team knows the design of this legacy system. And above that, nobody in our company knows the language in which this application has been written. So even if...

awww .. its so unfair ... :-P

Amaranth Halts Withdrawals; Talks With Citigroup Falter By HENNY SENDER and GREG ZUCKERMAN September 30, 2006; Page B3 Amaranth Advisors LLC, the hedge fund that lost $6 billion in September, announced that it is suspending withdrawals while it sells its remaining investments. The...

where do we have to go and register.. i would like to sign up for the SAT classess..

trend is your friend