Introducing a revolutionary new quantitative approach to hybridsecurities valuation and risk management
To an equity trader they are shares. For the trader at the fixedincome desk, they are bonds (after all, they pay coupons, so what'sthe problem?). They are hybrid securities. Neither equity nor debt,they possess characteristics of both, and carry unique risks thatcannot be ignored, but are often woefully misunderstood. The firstand only book of its kind, The Handbook of Hybrid Securitiesdispels the many myths and misconceptions about hybrid securitiesand arms you with a quantitative, practical approach to dealingwith them from a valuation and risk management point of view.
* Describes a unique, quantitative approach to hybrid valuationand risk management that uses new structural and multi-factormodels
* Provides strategies for the full range of hybrid asset classes,including convertible bonds, preferreds, trust preferreds,contingent convertibles, bonds labeled "additional Tier 1," andmore
* Offers an expert review of current regulatory climate regardinghybrids, globally, and explores likely political developments andtheir potential impact on the hybrid market
* The most up-to-date, in-depth book on the subject, this is avaluable working resource for traders, analysts and risk managers,and a indispensable reference for regulators