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Informationen zum Autor Stephen J. Antczak, CFA , is an Executive Director at UBS. Prior to joining UBS in 2001, he was a senior strategist at Merrill Lynch, and he has also worked at the Bureau of Labor Statistics as an economist. Antczak graduated from the University of Michigan with a BA in economics and an MBA in business economics and finance. Douglas J. Lucas has been a Group Managing Director and Director of Ratings Research at Moody's Investor Service since November 2008. Prior to that, he was head of CDO Research at UBS. Lucas has a BA magna cum laude in economics from UCLA and an MBA with Honors from the University of Chicago. Frank J. Fabozzi, PhD, CFA, CPA , is Professor in the Practice of Finance and Becton Fellow at Yale University's School of Management, Editor of the Journal of Portfolio Management , and Associate Editor of the Journal of Structured Finance and the Journal of Fixed Income . Klappentext Leveraged Finance is a comprehensive guide to the instruments and markets that finance much of corporate America. Presented in five sections, this reliable resource--which contains the in-depth insights of Stephen Antczak, Douglas Lucas, and Frank Fabozzi--covers topics ranging from the basics of bonds and loans to more advanced issues such as valuing credit default swaps, default correlations among collateralized loan obligations, and hedging strategies across corporate capital structures.Additional topics touched upon include basic corporate credit analysis, relative value analysis, and various trading strategies used by investors, such as hedging credit risk with the equity derivatives of a different company.Along the way, this reliable resource:* Presents real-market examples of how you can identify investment opportunities and express your views on the market or specific companies through trading strategies* Examines various underlying assets-loans, corporate bonds, and much more* Offers an overview of synthetic and structured products such as CDS, LCDS, CDX, LCDX, and CLOsWritten in a straightforward and accessible style, Leveraged Finance has the information you need to succeed in today's dynamic financial arena. Zusammenfassung A timely guide to today's high-yield corporate debt markets Leveraged Finance is a comprehensive guide to the instruments and markets that finance much of corporate America. Presented in five sections, this experienced author team covers topics ranging from the basics of bonds and loans to more advanced topics such as valuing CDs, default correlations among CLOs, and hedging strategies across corporate capital structures. Additional topics covered include basic corporate credit, relative value analysis, and various trading strategies used by investors, such as hedging credit risk with the equity derivatives of a different company. Stephen Antczak, Douglas Lucas, and Frank Fabozzi present readers with real-market examples of how investors can identify investment opportunities and how to express their views on the market or specific companies through trading strategies, and examine various underlying assets including loans, corporate bonds, and much more. They also offer readers an overview of synthetic and structured products such as CDS, LCDS, CDX, LCDX, and CLOs. Leveraged Finance has the information you need to succeed in this evolving financial arena. Inhaltsverzeichnis Preface xiii About the Authors xv Chapter 1 Introduction 1 Part One: The Cash Market 2 Part Two: The Structured Markets 3 Part Three: The Synthetic Markets 4 Part Four: How to Trade the Leveraged Finance Market 5 Part Five: Default Correlation 6 Part One The Cash Market 9 Chapter 2 The High-Yield Bond Market 11 The Reasons Companies Are Classified as High-Yield Issuers 11 S...
