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Interview News

Interview News. WSJ – Economics & News – many people writing for them – well known people Bloomberg – Ticker – indenficiation –graphs – BBG realizes – Analyst from Banks Reuter – RIC – graphs Financial Times – subscription – more about news and less about data. Bloomberg.

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Interview News

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  1. Interview News • WSJ – Economics & News – many people writing for them – well known people • Bloomberg – Ticker – indenficiation –graphs – BBG realizes – Analyst from Banks • Reuter – RIC – graphs • Financial Times – subscription – more about news and less about data

  2. Bloomberg • Chart of the Day • Division of News in terms of different securities and sectors • Similar to topics of CFA Exam covers all areas • Indices – Index provides MSCI, DB, Sunguard… • Investible index • UK Healthcare index – short position – short UK healthcare

  3. Index • Weighted by Market Cap • EV = Market Cap + Debt • Number of stocks * market traded today • MSCI World Index

  4. Awareness about Markets • Global Economy • Markets • Story – We are the all time high on Equity market – something like dot com boom

  5. CFA Currcuulum of Economics Level 2 Exam • Forex rate

  6. Bond • Corporate Debt – spread would decrease – companies are raise debt at cheap prices – return on bond is low • Sovereign Debt – US treasury • ‘Structured Securities’ – MBS- Securitized – ABS Other structured products

  7. Structuring • Loan – they don’t have capacity • Hedge funds, pension funds…. • Structure many loans • 100 – 5% • 80+20 • 1%, 2% • Prepayment risk • Defaults – I am taking the loss • Priority on the payments upper tranche – beat the loss

  8. Markets • S&P 500 – Equity Market – ownership – risk return • MSCI Global Index – global equity • Interest rates – • Debt Market – GDP, MBS • Proxies in term of indices

  9. 200 -180k • 5% • 10,10,10,10,110 • Tranches - Equity Tranche - Pool – collection of cash flows priority which is pre decided Two Tranches • 100 AAA - protected • 3% • 3,3,3,3,103 Equity tranche - new rule – very Bad rating • 100 • 7% • 7,7,7,7,107 • Sell the 200k loan and recovery 180

  10. Prepayment rate – CPR – SMM – 6%-12% - http://www.investopedia.com/terms/c/cpr.asp

  11. Chance of interest rate increase Bond portfolio 100 2% 95 2

  12. Sovereign debt • Treasury US govt • Municipal bonds – • Detroit bankrupts in municipal bonds • Risk Countries euro Zone

  13. Industry you follow • Tech – Moore Law, silicon manufacturing, patents • Google buying Motora - lenenvo – patents • Amd buying radeon • Oil and Gas – updown stream, exploration rigs quality of oil (crude brent) etc • Retail – renting • Healthcare • Custom adjustments • Sectors in Investment Baking – wholesale

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