Active Credit Portfolio Management in Practice

Praise for Active Credit Portfolio Management in Practice "This is an excellent book written by two authors who have a wealth of credit modeling experience." -John Hull, Maple Financial Group Professor of Derivatives and Risk Management, Joseph L. Rotman School of Management, University of Toronto "Bohn and Stein, both accomplished theorists and practitioners, present an accessible collection of complex models to assist the modern financial institution to manage credit risk effectively in what we all now understand to be the most critical financial risk concept in the world today. Now it is up to the major stakeholders, especially senior management and boards, to embrace these models and make them an integral part of their firms' culture." -Professor Edward I. Altman, Max L. Heine Professor of Finance, Stern School of Business, NYU "This book, by authors who have worked very closely with the theory and practical implementation of credit models, is an excellent field guide to credit risk modeling . . . The authors do not shrink from explaining difficult models but, instead of providing lengthy proofs, focus on explaining the intuition behind the models, and their practical limitations, in simple, accessible language. This is a must-read for practitioners in the area of credit risk, risk management, and banking, and for students and faculty in finance." -Raghuram G. Rajan, Eric J. Gleacher Distinguished Service Professor ofFinance, University of Chicago Booth School of Business, and former Chief Economist, International Monetary Fund "Bohn and Stein have created a wonderful guide to state-of-the-art credit risk modeling and credit risk portfolio construction. The book will provide the reader with a clear understanding of the theoretical foundation for the most useful credit models, and with a wealth of practical information on implementing these models. This book provides key insights on how to use and, perhaps more importantly, how to not misuse creditrisk models." -Kent D. Daniel, Director of Equity Research, Quantitative Investment Strategies, Goldman Sachs Asset Management "Suffice it to say that this is a rich book on matters of historic proportions." -Peter Carr, PhD, Head of Quantitative Financial Research, Bloomberg; Director of the Masters in Math Finance Program, Courant Institute, NYU "A breakthrough piece and so timely! Bohn and Stein take us through this complex topic in a clearly articulated rational progression." -Loretta M. Hennessey, First Chairperson of the International Association of Credit Portfolio ManagersBohn, Jeffrey R. is the author of 'Active Credit Portfolio Management in Practice', published 2009 under ISBN 9780470080184 and ISBN 0470080183.