Advancing the Field of Quantitative Finance
formerly the IAFE

Event: Transparency, Valuation, and Liquidity
Date: November 18, 2008
Time: 5:00 Registration
5:30-6:30 Event
Location:
PricewaterhouseCoopers
300 Madison Avenue (at 42nd Street)
New York
Description:

International Association of Financial Engineers presents

An IAFE Members Only Event
Tutorial Series

Transparency, Valuation, and Liquidity:

Understanding the Interconnections

Tuesday, November 18 , 2008
5:00 Registration and Coffee Reception
5:30-6:30 Event

PricewaterhouseCoopers
300 Madison Avenue (at 42nd Street)
New York

Tutorial led by

Marc Groz, Managing Member, Topos LLC

Event Description:

The concepts of investment transparency, valuation, and liquidity have been much in the news this past year. Each of these concepts has a deceptive simplicity that begins to unravel as we try to grasp it. We will examine the concepts individually and also discuss how they relate to and affect eachother. In particular, we will look at:

1. How lack of transparency impacts value;

2. How uncertainty about value destroys liquidity;

3. How illiquidity diminishes the value of such transparency as does exist.

Finally, we will explore how all of these things affect risk and uncertainty, a pair of frequently confused concepts both of which bear on transparency, valuation, and liquidity.