NAMA in NOLA

I am excited to go to New Orleans this week to speak at the annual conference of the National Association of Municipal Advisors (NAMA). I will be on a panel about bond structuring with Lori Raineri of Governmental Financial Strategies Inc., Dave Abel of William Blair, and Shelley Aronson of First River Advisory. We will discuss some of the important structuring questions that face municipal advisors, such as how to analyze  the tradeoffs involved with callable premium bonds.

Click here to see our slides.  They include a conceptual bond glossary that I prepared.

I look forward to a great conference (with maybe a little jazz on the side).

 

 

Updated 10/3/2016 with link to presentation slides.

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3 Responses to NAMA in NOLA

  1. Jeff Pickett says:

    Win,I’ve been following your write-ups on the callable premium bonds.  I find it very interesting and in general, I agree with you.  From a pure math viewpoint, I like the idea of adding call premiums; in my mind, and I’m not a math guru, this is almost like a make-whole call.   On the flip side, I think your analysis understates the importance of call flexibility to municipal agencies.  And while they could have it with call premiums (just like taxable issuers do with make-whole calls), it’s not quite the same as a par call, in their minds.   Anyway, will the presentation be available to us who aren’t going to the event?   Cheers, Jeff  Jeff Pickett (310) 529-4987

    From: The Well-Tempered Spreadsheet To: jpickett111@yahoo.com Sent: Monday, October 3, 2016 10:57 AM Subject: [New post] NAMA in NOLA #yiv1769640081 a:hover {color:red;}#yiv1769640081 a {text-decoration:none;color:#0088cc;}#yiv1769640081 a.yiv1769640081primaryactionlink:link, #yiv1769640081 a.yiv1769640081primaryactionlink:visited {background-color:#2585B2;color:#fff;}#yiv1769640081 a.yiv1769640081primaryactionlink:hover, #yiv1769640081 a.yiv1769640081primaryactionlink:active {background-color:#11729E;color:#fff;}#yiv1769640081 WordPress.com | Win Smith posted: “I am excited to go to New Orleans this week to speak at the annual conference of the National Association of Municipal Advisors (NAMA). I will be on a panel about bond structuring with Lori Raineri of Governmental Financial Strategies Inc., Dave Abel of W” | |

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  2. Win Smith says:

    Thank you Jeff. Perhaps I did understate the value of call options to issuers. The flexibility can be very helpful. I will check on whether I can release the slides. Best, Win

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