Global Securitisation and CDOs (The Wiley Finance Series)

Rating:
Summary: Deep Collateralized Debt Obligation (CDO) Coverage
Review: Although not smooth reading, "Global Securitisation and CDOs" by Mr. John Deacon, provides a comprehensive lay of the Collateralized Debt Obligation (CDO) landscape - certainly the sexiest area of securitization and one of the most exciting areas of modern finance. I have worked with CDOs for over two years and find the ever evolving nature of both sides of the CDO world very exciting; their shifting asset structures and their evolving liability configurations make each deal unique from the next.

Overwhelmingly, one senses that "Global Securitisation and CDOs" was written by an industry expert brimming with superb information and an outstanding legal background. And certainly, that is exactly what Mr. John Deacon is. His genuine passion for CDOs and structured finance is self evident. However, similarly obvious, this tome was not written by a professor, professional teacher, or consultant willing to lead you on a structured path toward CDO knowledge. At times, the work reads more like a study than an actual book; information is thrown at the reader without enough connections, structure and signposting.

Fundamentally, "Global Securitisation and CDOs" is a very good (and much needed) handbook/reference guide with useful graphs and tables. I recommend it as a reference guide - suitable for a mixture of skimming and in-depth reading - and as a fantastic starting point for intelligent CDO conversation.