Financial Origami / Bloomberg (PDF)
How the Wall Street Model Broke
(Sprache: Englisch)
An in-depth look at the failure of Wall Street's "proven"
financial models
Origami is the Japanese art of folding paper into intricate and
aesthetically attractive shapes. As such, it is the perfect
metaphor for the Wall Street financial engineering...
financial models
Origami is the Japanese art of folding paper into intricate and
aesthetically attractive shapes. As such, it is the perfect
metaphor for the Wall Street financial engineering...
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An in-depth look at the failure of Wall Street's "proven"
financial models
Origami is the Japanese art of folding paper into intricate and
aesthetically attractive shapes. As such, it is the perfect
metaphor for the Wall Street financial engineering model, which
ultimately proved to be the underlying cause of the 2008 financial
crisis.
In Financial Origami, Brendan Moynihan describes how the Wall
Street business model evolved from a method to transfer risk into a
method for manufacturing risk. Along the way, this timely book
skillfully dissects financial engineering and addresses how it's
often a mechanism to evade regulatory constraints, provide
institutional investors with customized products, and, of course,
generate revenue for financial engineers.
* Reveals how Wall Street's financial engineering business model
morphed into something destructive
* Highlights how the origami model worked well in the
comparatively stable years of the early 2000s, when there was less
risk to transfer
* Discusses how Wall Street began manufacturing risk by creating
products that multiplied risk exposures and encouraged subprime
lending
With the collapse of Lehman Brother the Wall Street business
model effectively broke. But there are many lessons to be learned
from what has transpired, and Financial Origami will show you what
they are.
financial models
Origami is the Japanese art of folding paper into intricate and
aesthetically attractive shapes. As such, it is the perfect
metaphor for the Wall Street financial engineering model, which
ultimately proved to be the underlying cause of the 2008 financial
crisis.
In Financial Origami, Brendan Moynihan describes how the Wall
Street business model evolved from a method to transfer risk into a
method for manufacturing risk. Along the way, this timely book
skillfully dissects financial engineering and addresses how it's
often a mechanism to evade regulatory constraints, provide
institutional investors with customized products, and, of course,
generate revenue for financial engineers.
* Reveals how Wall Street's financial engineering business model
morphed into something destructive
* Highlights how the origami model worked well in the
comparatively stable years of the early 2000s, when there was less
risk to transfer
* Discusses how Wall Street began manufacturing risk by creating
products that multiplied risk exposures and encouraged subprime
lending
With the collapse of Lehman Brother the Wall Street business
model effectively broke. But there are many lessons to be learned
from what has transpired, and Financial Origami will show you what
they are.
Inhaltsverzeichnis zu „Financial Origami / Bloomberg (PDF)“
Author's Note. Introduction. Chapter 1 Fold Sides to Center. Commercial Banks. Savings & Loans. Securities Firms. Transferring Risk. End of an Era. Chapter 2 Result, Turn Over. The Three Derivatives. Options. Futures. Swaps. Chapter 3 Fold Sides to Center, Again. Changing the Rules. A New Environment. Investing in Mortgages. Banker Incentives. Chapter 4 Fold Tip to Point. Other People's Money: Equity. Agents Transferring Risk Become Principals Taking It. Chapter 5 Fold Point Back. Rules, Refold, Rave, Ruin. A New Environment. A New Risk. Chapter 6 Fold in Half. Mortgage Origami. Subprime Origami. The Rating Game. Banker Incentives. Manufactured Product. Chapter 7 Pull Neck Upright. Low Volatility, Low Risk. The CDS Market Develops. More Insurance Than Needed. Opaque Markets. Other People's Money: Debt. Chapter 8 Pull Head to Suitable Angle. Vindicating Greenspan. How, Not Will, You Pay? Broken Markets. Chapter 9 Complete. What's Wrong with Wall Street. Government Sponsored Enterprises. Government Sanctioned Credit Rating Agencies. Banks. What's Right with Wall Street? Brown Brothers Harriman. Marketfield Asset Management. Egan-Jones Co. Epilogue. Notes. About the Author. Index.
Autoren-Porträt von Brendan Moynihan
Brendan Moynihan is an editor-at-large for Bloomberg News, wherehe manages the popular column "Chart of the Day" and writes about
the economy and Wall Street. He has been with the company since
2006, after spending more than twenty years on Wall Street as a
trader and risk manager. Moynihan is the author of Trading on
Expectations (Wiley) and coauthor of What I Learned Losing a
Million Dollars. He lives in Barrington Hills, Illinois, with his
wife and two sons, and is currently writing a book on English
grammar.
Bibliographische Angaben
- Autor: Brendan Moynihan
- 2011, 1. Auflage, 192 Seiten, Englisch
- Verlag: John Wiley & Sons
- ISBN-10: 1118030303
- ISBN-13: 9781118030301
- Erscheinungsdatum: 18.02.2011
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