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Advance praise for The Handbook
of Credit Portfolio Management
“On the heels of the recent subprime mortgage crisis in the U.S.
and the resulting credit market fallout, this book represents a timely
response to groundswell concerns about the valuation models of
credit-sensitive investments. A superb exposition of practical models
for any credit risk manager!”
—Andreas A. Jobst, International Monetary Fund (IMF)
“In a context of greater uncertainty regarding the relevance of the
practices of credit risk measurement and management, this Handbook
greatly contributes to our understanding of the real place of credit
risky securities in the portfolio allocation and the risk management
processes.”
—Georges Hübner, PhD, HEC-University of Liège, Maastricht
University, and The Luxembourg School of Finance
“Handbook of Credit Portfolio Management addresses the critical
issues faced by professionals in today’s challenging investment
world. It not only reviews mainstream topics such as managing credit
portfolio risk and exposure, but also addresses the more exotic credit
risks embedded in default swaps and collateralized debt obligations.
Of particular interest is the focus on credit trading strategies covering
arbitrage, synthetic replication, and other hedge fund applications.”
—R. McFall Lamm Jr., PhD, Chief Investment Strategist, Global
Investment Management, Deutsche Bank, London
“An important compendium for all of us who spend our days thinking
about debt and issues of financial distress. This handy volume covers
the full range of issues that both academics and practitioners face on
a daily basis and will surely be a frequent reference.”
—Stephen J. Lubben, Daniel J. Moore Professor of Law, Seton Hall
University School of Law

“The discovery of credit derivatives is a milestone in the history of
the financial markets, similar to the arrival of the interest rate swap in
the early 1980s. Today credit derivatives have surpassed the bond
markets in volume, and even in volatile markets, their importance
continues to grow. Gregoriou and Hoppe are commended for bringing
together experts from various disciplines in this book. The handbook
of credit portfolio management is an indispensable tool for financial
markets practitioners.”
—Jan Job de Vries Robbé, Senior Counsel Structured Finance,
Netherlands Development Finance Company
“Risk Management is the most important challenge in banking in
times driven by market turbulences and uncertainness. Due to this
fact measuring the inherent risk and optimizing the portfolio has to
become a key competence of successful market players.”
—Wolfgang Hartmann, Member of the Board of Managing
Directors and Chief Risk Officer, Commerzbank, AG

THE HANDBOOK
OF CREDIT
PORTFOLIO
MANAGEMENT

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