Customer Reviews

Managing Credit Risk: The Next Great Financial Challenge (Frontiers in Finance Series)

5 star:		(4)
4 star:		(4)
3 star:		(1)
2 star:		(0)
1 star:		(0)

 

 

This book provides an up-to-date and comprehensive overview of credit risk management. An excellent resource for those who are new to the field, or who specialize in one area of credit risk management and wish to broaden their view, or even for veterans who wish to stay current of the latest development and industry trend.

What this book is not about is the mathematical and statistical details in credit risk/portfolio modeling; yet it does a good job in highlighting various aspects of modeling (such as data availability, limitations of different approaches, etc.)

In summary, it is a very resourceful book by itself and for its comprehensive reference lists.

However, as is true to any book in its first print, beware of typos.

Managing Credit Risk is an outstanding work of scholarship and a truly fabulous book. As a working credit analyst in the field the authors characterize as "classic credit analysis," I felt the need to become conversant with the various quantitative approaches to managing credit risk, (especially since the ultimate goal of the quantitative modelers is to put me out of work). The book served my needs precisely, by introducing all of the relevant models in a concise format with easy-to-understand commentary on the strengths and weaknesses of the models. The clear, qualitative, conceptual explanations are supported by quantitative examples sufficient to satisfy most numerically minded readers, but even those who shy away from numbers will find the quantitative examples easy to follow. The book has served me very well by enabling me to discuss the assessment and deployment of quantitative models on an even footing with professional risk managers and the rocket scientists who are engaged in developing these models. Although finance professionals obviously will find the book of great value, I also believe that readers who enjoyed Peter Bernstein's Against the Gods will find that Managing Credit Risk provides a concrete account of the current state of humanity's struggle to understand and control risk.

The authors make for a particularly impressive team of credit risk experts and Professor Altman in particular is a global authority on the subject. The book does not disappoint, and provides a first-rate overview of the field as it is currently emerging. Of particular interest to this reviewer were the chapters on the new credit risk models such as CreditMetrics, KMV and their brethren. There are also some informative chapters on default and recovery analysis and credit migration. However, like so many financial books on the market these days, there is little guidance on the practical implementation of the various approaches described in the text. Overall, "Managing Credit Risk" is a very useful work but for this kind of money I would have expected more than just a foot in the door!

This book popularises the new portfolio management approach to managing loan portfolios.The attempt is to mark the value of loans to market. This assumes a vibrant market for securitised loans , strips etc.It is a very good introductory book an the subject which is now evolving.It should be read by regulators and those who have supervisory roles.It is easy reading not much encumbered by obscure mathematical equations
This is good value for money and should be on every credit administrator's bookshelf

This book is good overview on current status of the credit risk management. I recommend it to those who need to get quick overview on what it takes. It compares classic credit analysis with new approaches, explains the credit culture etc. However this can not be used as a single source of information. You will need additional books. Do not expect to get mathematical formulas in this book. There is only very few of them, which is benefitial here, because the book is easy to understand. What you will get is a vision on how the credit risk should be managed. If you seek specific advices on how to manage credit risk than there are better books like Managing Bank Risk: An Introduction to Broad-Base Credit Engineering from Morton Glanz.

This is a good book for those who want to have quick and easy introduction to credit risk measurement and management. It not only introduce different theories of credit risk approaches but simplifies many concepts that are being used as buzz words on resumes. Best part is it is written in simple format that can let reader read from cover to cover. Hope this review helps

While the recent comment "Comprehensive Resource on Credit Risk Management" is very good in many ways, I wish it explains more in the low yielding instruments, like the wit it shows in the treatment of high yield.

I think the book was an outstanding piece of literature full of helpful hints for my business life. I would have to say that it was one of the most helpful books i have ever read. Thank you.

please buy this book, its written by my papp