Valuing Toxic Assets: An Analysis of CDO Equity
---- Acknowledgements -----
The authors are grateful for helpful discussions with Navneet Arora, Vineer Bhansali, Mark Garmaise, Peter Knez, Hanno Lustig, Carolina Marquez, Arvind Rajan, Derek Schaeffer, Alessio Saretto, John McConnell, and Victor Wong, and for the comments of seminar participants at Barclays Global Investors and the Journal of Investment Management Conference. All errors are our responsibility. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.