The usual approach to portfolio management is to use measures of expected return and risk
of assets, as well as the covariance of these returns, to create a portfolio with the highest …

… Also, I am thankful for the constant support of my friends and colleagues, especially Zhihong
Ski, Michiko Whetten and Raj Sharma. I also wish to thank Sylvia Clark and Allison Davis for …

This is the executive summary of essays on adverse selection that comprise the dissertation.
The essays analyze adverse selection, in particular Information Asymmetry under different …

Congress has been holding hearings on threats to the financial system in response to the
recent subprime1 mortgage meltdown and its impact on the mortgage-backed and other asset-…

Conclusion: The implications are reasonably clear. An investor seeking rating stability generally
should favor multiple-rated deals. Deals that carry multiple ratings are less likely to carry …

The collateralized debt obligation, aircraft asset-backed securities, franchise loan ABS, and
12b-1 fee ABS sectors have been hammered by unprecedented volumes of downgrades. A …

The recent ABS East 2005 conference in Boca Raton, Florida reflected the generally positive
outlook of most market participants. However, different panelists expressed concern about …