CPDO

It was Buttonwood's article mentioned a new credit derivative last week; it called CPDO, Constant Proportion Debt Obligations. I just wondering what on earth the synthetic credit instrument it is. Then decide to find out the answer.

Apparently it's a hot stuff. You could see those references below. It was all talked about CPDO after August 2006.
Its first debut was at August 2006 launched by Abn Amro named SURF. SURF is a fixed-income bond with triple-A rating from major bond rating organizations. Investors could earn more coupons than other AAA bonds.

It's worth a look.
You may try the references 1 and 2 to read the outline of this new instrument.
If you really have interest in it then you could see references 3 and 4 to feel the joy of Abn Amro as the inventor of CPDO and the covering letter of SURF.
After that you could go to reference 5 to know what the havoc it caused to credit derivative market recently.
To savor it in an easier way I recommend you the references 6 and 7, you could find how plainly they explain CPDO to you.
At last, there are several URLs remained and left for you to saturate yourself with CPDO raves.


References:
1. http://www.economist.com/daily/columns/techview/displaystory.cfm?story_id=8150178
2. http://www.rgemonitor.com/blog/economonitor/157230
3. http://www.abnamro.com.au/content/media/articles/308.asp
4. http://www.nuclearphynance.com/User%20Files/393/BLP10636.pdf
5. http://ftalphaville.ft.com/blog/2006/11/01/555/daily-report-credit-default-swaps-6/
6. http://www.fitchratings.com.au/show_featart.asp?rel_id=410
7. http://interfluidity.powerblogs.com/posts/1163375565.shtml

http://www.riskchat.com/_articles/00000008.htm
http://www.wilmott.com/messageview.cfm?catid=4&threadid=41739
http://www.nuclearphynance.com/Show%20Post.aspx?PostIDKey=85967
http://www.aleablog.com/2006/08/30/70/

人生一瞬

人生一瞬，詹宏志的新書，講的是回憶，那個我們忘卻許久的東西，總是冷不防的在偶然一個場景或旋律的觸動下跳了出來，這次是詹宏志的散文讓我停了下來不斷的回想那過去30年來我的曾經。

回憶像是電影一般的上演，我們獨立於事外，不管是美好或殘酷都已遠去，我們只是自己人生劇場的一個旁觀者。想著、看著、思緒澎派著....

在人生將落幕的那一刻，人的一生在轉瞬間也就倏地崛起然後消逝，我們不過是宇宙的一個過客; 能夠掌握的是現在，活的精采是一生，平平淡淡是一生，結果常常出乎我們意料之外；當下是重要的，是常常沒有時間去回憶，而汲汲營營的想要在人生的進程留下些什麼？

其實留下什麼並沒有那麼重要，重要的是過程，就在宇宙的這一瞬間, 我們生活著，就是現在，就是現在，現在也會成為我們闔眼的一瞬間那一幕幕快轉的情景。

回憶翻飛著，往事上演著，好久沒有靜下心來看看自己的演出；現在是如此的重要，而回憶總是蒙上一層紗般地甜美，不管多麼的忙碌，能夠在不經意的狀況下墮入回憶也算是一種幸福吧！