The CIRM Reading List
Q & A with CIRM President, Christina Ochs from Real Estate Finance & Investment May 16, 2016.
This article is a great example of the high cost to borrowers of self-serving advice by swap vendors: Gretchen Morgenson, “The Swaps that Swallowed Your Town,” New York Times, March 5, 2010.
Books We Admire
- Dan Ariely. Predictably Irrational: The Hidden Forces That Shape Our Decisions. New York: HarperCollins, 2008.
- Peter Bernstein. Against the Gods: The Remarkable Story of Risk. Hoboken: John Wiley & Sons, 1998.
- Daniel Kahneman. Thinking, Fast and Slow. New York: Farrar, Straus and Giroux, 2011.
- Steven D. Levitt and Stephen Dubner. Freakonomics: A Rogue Economist Explores the Hidden Side of Everything. New York: William Morrow, 2005. [Visit the Freakonomics web site]
- Michael Lewis. The Big Short. New York: W.W. Norton and Company, 2001.
- Michael Lewis. Liars Poker: Rising Through the Wreckage on Wall Street. New York: W. W. Norton & Company, 1989.
- Daniel H. Pink. A Whole New Mind: Moving from the Information Age to the Conceptual Age. New York: Riverhead Books, 2005.
- Barry Schwartz. The Paradox of Choice: Why More is Less. New York: Harper Perennial, 2005.
- Nassim Nicholas Taleb. The Black Swan: The Impact of the Highly Improbable. New York: Random House, 2007.
- Nassim Nicholas Taleb. Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets. New York: Random House, 2004.
- Richard Thaler and Cass Sustein. Nudge: Improving Decisions About Health, Wealth, and Happiness. New Haven: Yale University Press, 2008.
- Aaron Wildavsky. Searching for Safety. New York: Transaction Books, 1988.
- Journal of Applied Corporate Finance. [Published quarterly by Wiley Blackwell on behalf of Morgan Stanley]
Papers We’ve Written
Rod Keith explains how multifamlly housing borrowers can reap greater cash flow throughout the business cycle if they choose to float the interest rate on their debt. Download a pdf of Keith’s “Interest Rate Management: There’s Nothing to Fear.” Contact us and we’ll be happy to send you a copy of any of our papers below.
- Steven N. Manos and Kathryn M. Tobin. “Zen in the Art of Interest Rate Swaps,” 1992.
- Michael Ochs, “Developers Can ‘Unhedge’ Those Costly Interest Rate Guarantees,” REAL ESTATE REVIEW, The Real Estate Institute of New York University, Vol. 16, No. 3, 1986.
- Michael Ochs, “Creating the Perfect Hedge,” REAL ESTATE FINANCE, Federal Research Press, 1986.
- Michael Ochs, “Interest Rate Protection for the Real Estate Developer,” REAL ESTATE FINANCE, Federal Research Press, 1985.
CIRM Interest Rate Indications
Download samples (in pdf format) of recent weekly Interest Rate Indications:
CIRM Economic Comments
Here is a sampling of recent comments — for other insights, please contact us.
September 12, 2017
May 16, 2017
January 24, 2017
November 15, 2016
May 10, 2016
March 29, 2016