Nassim Nicholas Taleb talks about his best selling book on uncertainty.
Short video explaing the international carry trade (example borrow yen and invest in New Zealand bonds).
Covered Bonds are widely used in Europe to finance mortgages. Treasury is looking for alternative methods to Freddie Mac, Fannie Mae and Private Lable Securitization to finance mortgage loans in the U.S. Neel Kashkari from the U.S. Treasury discusses plans to create a covered bond market in the U.S. The speach was given at the American Enterprise Institute. Materials from the meeting are available at AEI. Also the Treasury has its own webpage and materials on its plans for covered bonds at US Treasury.
Professor Salih Neftci, one of the most brilliant minds in Quanitiative Finance discusses the recent credit crisis.
Beniot Mandelbrot, the father of Fractal Geometry, and Nassim Talem, the author of The Black Swan discuss their concerns about the credit crisis and its relationship to complexity.
Through the power of webcasting, you can take several of NYU Professor Damodaran's finance classes. He provides you with the class materials, quizzes and tests, as well.
The talk reviews the main components of the financial crisis of 2007-09 from a complexity perspective and argues that two decades of ideology driven deregulation, the surge of securitization, the spreading of OTC derivatives and off balance sheet items, excessive leverage, collaterized debt obligations and structured investment vehicles led to the creation of a huge shadow banking system that became opaque and complex to such a degree as to be totally unknowable. Such a system is impossible to regulate. As a result of massive government interventions, partial or complete nationalization, and a series of collapses, the system is in the process of deleveraging, and a large body of new regulation is in the making. The talk will give a sketchy oversight of what is perhaps the most coherent set of proposals for the new regulation, due to the de Larosiere Committee. Finally, the idea of an adaptive regulatory regime will be put forward.
Dr. Jim Mahar has recorded Podcasts of several classes. This is a great way to learn more about finance.
Paul Salmon and Nassim Taleb explain Hedge Funds in this short October 2006 video.
CNBC Special on the Subprime Crisis.
PBS Frontline has done an excellent job is explaining the events of the Fall of 2008 as markets collapsed in the US after the bursting of the real estate bubble.
This short video shows you how things function on the floor of the NYSE.
WIDE ANGLE travels to East Africa to tell the dramatic story of an Ethiopian economist on a mission. Seeking a market-based solution to ending hunger in her famine-plagued country, she creates Ethiopia’s first commodities exchange. What she didn’t count on was a world financial crisis getting in the way.
This is the place to go for excellent 10 minute tutorials on all kinds of finance related taopics. For example, if you want to know what a hedge fund is or how the mark to market rules work, this is the place.
This is a good report by PBS explaining the concept of moral hazard. You can read the transcript of the report and listen to the report over the Internet.
In this video, the Nobel Prize winning economist Robert Merton explains important parts of the financial crisis using an interesting analytical framework. He begins with the equation: Risky Debt + Debt Guarantee = Risk Free Debt. Merton takes a second step and explains that functionally a debt guarantee is equivalent to a put option on the debtor's underlying assets. For example, the value of a mortgage loan would be the value of a risk free loan minus the cost of a put option on the house securing that loan. Merton shows the non-linear relationship involved and explains why the value of loans can keep falling at a faster and faster rate and the value of the underlying collateral, itself.
Robert Merton won the Nobel Prize in 1997 for his work on the Black-Scholes Option Pricing Model. However, he was also a principal in Long Term Capital Management (LTCM), which was a hedge fund which crashed dramatically in 1998. While his name is known for both good and ill, he is definitely worth listening to.
This is a Fox News Special on the Credit Crisis.
- Structured Finance (and the Credit Crisis)
This is a five part course in structured finance and how it related to the credit crisis.
These are video lessons explaining the sub-prime crisis and the fall of Bear Steans.