A practical guide to building fully operational financial cash flow models for structured finance transactions
Structured finance and securitization deals are becoming more commonplace on Wall Street. Up until now, however, market participants have had to create their own models to analyze these deals, and new entrants have had to learn as they go. Modeling Structured Finance Cash Flows with Microsoft Excel provides readers with the information they need to build a cash flow model for structured finance and securitization deals. Financial professional Keith Allman explains individual functions and formulas, while also explaining the theory behind the spreadsheets. Each chapter begins with a discussion of theory, followed by a section called "Model Builder," in which Allman translates the theory into functions and formulas. In addition, the companion website features all of the modeling exercises, as well as a final version of the model that is created in the text.
Note: Companion website and other supplementary materials are not included as part of eBook file.
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Keith Allman is currently the principal trainer and founder of Enstruct, a structured finance analytics training company. Previously he was a Vice President at Citigroup in their Global Fixed Income, Structured Finance Division. He has built and reviewed hundreds of models from many different sectors. Allman received his master's degree in international affairs from Columbia University.
Praise for Modeling Structured Finance Cash Flows with Microsoft Excel
"You can roll up your sleeves, dive into this book, and shortly thereafter, you have a full-blown honest-to- goodness working model of a transaction. This sure beats the old method of slaving at the feet of gurus for years in the hopes that they'll throw you a scrap. It almost feels as though Allman has given away a shortcut through the 'hazing' period of learning, but then I am grateful I have a resource with which to train new analysts or remind myself how some things work."
―Omar Haneef, Global Securitized Markets, Citigroup
"Allman has written a book that reveals to the reader/user a robust framework for using Excel to model structured finance transactions. Both seasoned cash flow modelers and those new to, or curious about, how structured finance transactions are analyzed can benefit from this book."
―Henry Wilson, Bond Insurance Company Analyst
"A powerful, concise, and tiered approach. It's a bedrock foundation to build on for both the art and science of structured finance modeling. An excellent platform from which to leverage your financial knowledge and personal capital."
―William Preinitz, Managing Director, Citigroup
"An essential tool for any credit officer wishing to gain a general or in-depth understanding of cash flow modeling for new or existing deals."
―Joseph B. Keener, Structured Portfolio Management, Citigroup London
Written by industry expert Keith Allman, this well-rounded resource provides detailed guidance on constructing one of today's most adaptable models―the cash flow model. Filled with in-depth insight, expert advice, and illustrative examples, Modeling Structured Finance Cash Flows with Microsoft Excel explains individual functions and formulas, while also examining the theory behind the spreadsheets. Each chapter begins with a discussion of theory, followed by a section called "Model Builder," in which Allman translates the theory into functions and formulas. In addition, the companion website features all of the modeling exercises, as well as a final version of the model that is created in the text.
By combining specific application instruction with theory, Modeling Structured Finance Cash Flows with Microsoft Excel will teach you skills that can be instantly applied to professional-level modeling.
Praise for Modeling Structured Finance Cash Flows with Microsoft Excel
"You can roll up your sleeves, dive into this book, and shortly thereafter, you have a full-blown honest-to- goodness working model of a transaction. This sure beats the old method of slaving at the feet of gurus for years in the hopes that they'll throw you a scrap. It almost feels as though Allman has given away a shortcut through the 'hazing' period of learning, but then I am grateful I have a resource with which to train new analysts or remind myself how some things work."
—Omar Haneef, Global Securitized Markets, Citigroup
"Allman has written a book that reveals to the reader/user a robust framework for using Excel to model structured finance transactions. Both seasoned cash flow modelers and those new to, or curious about, how structured finance transactions are analyzed can benefit from this book."
—Henry Wilson, Bond Insurance Company Analyst
"A powerful, concise, and tiered approach. It's a bedrock foundation to build on for both the art and science of structured finance modeling. An excellent platform from which to leverage your financial knowledge and personal capital."
—William Preinitz, Managing Director, Citigroup
"An essential tool for any credit officer wishing to gain a general or in-depth understanding of cash flow modeling for new or existing deals."
—Joseph B. Keener, Structured Portfolio Management, Citigroup London
Written by industry expert Keith Allman, this well-rounded resource provides detailed guidance on constructing one of today's most adaptable models—the cash flow model. Filled with in-depth insight, expert advice, and illustrative examples, Modeling Structured Finance Cash Flows with Microsoft Excel explains individual functions and formulas, while also examining the theory behind the spreadsheets. Each chapter begins with a discussion of theory, followed by a section called "Model Builder," in which Allman translates the theory into functions and formulas. In addition, the companion website features all of the modeling exercises, as well as a final version of the model that is created in the text.
By combining specific application instruction with theory, Modeling Structured Finance Cash Flows with Microsoft Excel will teach you skills that can be instantly applied to professional-level modeling.
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