CDOs commit to roadmap

TO COMMIT or NOT TO COMMIT ?

CDOs in Chains

This paper discusses the pricing of CDOs in a Markov chain framework. We show that in general the values of the legs satisfy systems of partial differential equations. In the special case of constant default intensities, one only needs to solve a system of ordinary differential equations, the so-called Kolmogorov differential equations.

Hedging issues for CDOs

This paper is a primer on the hedging and the risk management of CDO tranches. It intends to provide a global perspective on the current issues and refers to research papers for modelling and mathematical details. Though the basics of the risk management within the Gaussian copula model are not discussed, we review some issues which may eventually lead to the decline of the current market appro...

Using distortions of copulas to price Synthetic CDOs

This paper uses distortions of the bivariate Gaussian copula to produce a heavy tail for expected portfolio loss distribution in the context of synthetic Collateralized Debt Obligations (CDOs). We demonstrate that when the distorted copulas are used within the JP Morgan CDO pricing formula, as an example, we can simulate quite realistic tranche prices. Furthermore, we need only one dependence p...

Commit to Sit in Radiology.

At Houston Methodist Hospital, Commit to Sit is a program that encourages radiology professionals to communicate with patients in a way that demonstrates compassion, respect, empathy, and competence in order to foster a trusting relationship. Using active and empathic listening, dialogue is received and understood in the way it was intended, creating a patient centric environment resulting in h...