Book Description

Interest rate exposure * volatility of rates * term of funding * forward & forward rates and the yield curve * the currency of borrowing * price risk. ... Read more

Book Description

Identifying interest rate exposures * hedging policy * structural hedging * hedging with derivative instruments * interest rate futures, options, & swaps * duration and immunizing a portfolio. ... Read more

Book Description

What are forward rate agreements * using FRAs * what are interest rate futures * closing positions * using futures. ... Read more

Book Description

Interest-Rate Risk Models is a practical guide for asset-liability managers and other investment professionals who are faced with the decision of whether to build or buy a financial model to measure, monitor, and help manage their institution's risk exposure. The book reviews the evolution of interest-rate risk models and describes and evaluates the state-of-the-art models in use today. ... Read more

Reviews (1)

Review of Chapter 10: OAS Implementation Issues
Chapter 10 of this book contains the best exposition I have found to date regarding contruction of an OAS model for MBS. On the downside, in the process of replicating the model I have not been able to reproduce the interest rate cap prices on page 171 nor the the output of the prepayment model aging function depicted graphically on page 184, figure 6.

On the cap price issue, all inputs to the cap pricing were reproduced exactly, so that the failure to reproduce the prices themselves is a mystery.

Regarding the prepayment aging function it does not appear that the function presented in equation (22) on page 183, using the GNSF model coefficients, produced the output contained in figure 6, on page 184.

I point out these two issues in order to indicate the extent to which replicating the results of this chapter are possible. Finally, I was dissapointed in the willingness of the author to respond to clarifying questions regarding the presented material. I was surprised when I did not receive a response because the author was eager to answer a prior inquiry from me asking about the appicability of his chapter to my MBS modeling interests.

In any event, the chapter provides the best documentation of OAS model construction I have found. For those practitioners wanting to learn how to construct a workable OAS model for MBS fixed rate pass throughs I highly recommend chapter 10 of this book. ... Read more

Book Description

Teaches a technique on how to pay zero percent interest on credit cards even if you carry over a balance from month to month ... Read more

Reviews (3)

Rip-off pamphlet (not a book)
Poor and unethical. This grocery store horoscope size pamphlet tells how to cheat the Dept. stores, too. Must do this every month. Book not recommended. 1/2 star. Hey Northridge, CA... your right around the corner from me!

Whats the first reviewer talking about.
I read the book and it tells you exactly how to accomplish what the title says. I highly recommend it.

I Wouldn't Recommend This Pamphlet Even @ Gunpoint
This "book" consisted of only 24 pages, and the pages were off-centered at that. Nonetheless, I have always thought that one should never judge a book by its cover. After reading the pamphlet, I knew that the quality of the pamphlet (or rather, lack therof, was consistant with the content).

I could have easily put together a more informative pamphlet, with better information (e.g., Credit Card companies that actually offer a 20-25 day grace period on Balance Transfers). Now this is the kind of information that I would pay for, and that quite frankly, I thought that I would be getting from this selection.

Best Advice: How to Pay Zero Dollars for this Pamphlet -- Steer Clear Here ... Read more