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. Keith A. Allman (New York, NY) is a
structured finance professional with a specialization in analytics and
modeling, and the author of Modeling Structured Finance Cash Flows with
Microsoft Excel (978-0-470-04290-8), from Wiley.
http://www.amazon.com/exec/obidos/tg/detail/-/0470242051/
Download File Size:4.15 MB
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