Laurence Wadler
Adjunct Professor of Public Administration
Laurence Wadler is the founder and manager of Precision Analytics Inc, a successful consulting practice specializing in the design and development of structured bond transactions and financing programs primarily for governmental and non-profit entities. He possesses expertise in all areas of structured finance including housing, health care, infrastructure and education and routinely provides strategic assessments of structured finance opportunities available to large governmental and non-profit issuers. He also serves as one of the nation's premier cash flow verification agents.
Adjunct Professor Wadler previously served as Vice President of Public Finance at Bear, Stearns & Company in charge of quantitative analysis and Director of Financial Analysis at Hawkins, Delafield & Wood. He earned a Bachelor of Arts with a major in Political Science from the University of Rochester and a Masters in Business Administration with a major in Financial Management from Iona College.
Professor Wadler has authored the following industry publications:
"Toward a New Financial Architecture", The Municipal Finance Journal, Volume 30, Number 2,
"An Introduction to Revenue Curve Analysis", The Municipal Finance Journal, Volume 21, Number 3 ,
"The Impact of Lending Velocity on Revolving Fund Performance", The Municipal Finance Journal, Volume 16, Number 1, and
"The Municipal Finance Opportunity Cost Index", The Municipal Finance Journal, Volume 14, Number 3
He is currently in the process of writing a three book series entitled "Finance as Architecture - A Picture on the Wall."
This course will focus on the issuance and management of debt by state and local governments, nonprofit institutions and local authorities. The course will address the history and evolution of the capital markets through which municipal issuers borrow funds, primarily on a tax-exempt basis. The course will focus primarily on the issuance of long-term debt to support capital investment, but will also examine short-term borrowings as well.
Students will understand the role of the various participants in the capital markets, including but not limited to the issuer, underwriter, financial advisor, legal counsel, rating agency, insurer and investor. Specific case studies and assignments will explore important events in the municipal market that have resulted in significant change in participant behaviors and market volatility.
Students will become familiar with standard market calculations and analysis including bond sizing and structuring, net present value analysis and credit/risk analysis.
Students are assumed to have a good working knowledge of spreadsheet applications and basic quantitative proficiencies.
This course examines the process by which financing objectives are transformed into municipal bond transactions and other opportunities to utilize structured finance products in the health and corporate finance sectors. The course will center on a case study of an actual bond transaction that financed multiple new money (construction) and refunding projects. We will learn the mathematics underlying financial structure and the governing conventions and vocabulary of structured finance. We will study the instruments of structured finance and how they manifest into structural form. Once we have developed this core understanding, we will review in detail the Official Statement related to the case study to begin our exploration of the structuring process.
All cash flow elements of the structuring process will be discussed in detail and formulated in EXCEL. Once a sufficient understanding of the purpose and protocols associated with the structuring process is developed, we will explore the bond structuring process using DBC Finance, the industry standard bond structuring software.
This course will focus on the issuance and management of debt by state and local governments, nonprofit institutions and local authorities. The course will address the history and evolution of the capital markets through which municipal issuers borrow funds, primarily on a tax-exempt basis. The course will focus primarily on the issuance of long-term debt to support capital investment, but will also examine short-term borrowings as well.
Students will understand the role of the various participants in the capital markets, including but not limited to the issuer, underwriter, financial advisor, legal counsel, rating agency, insurer and investor. Specific case studies and assignments will explore important events in the municipal market that have resulted in significant change in participant behaviors and market volatility.
Students will become familiar with standard market calculations and analysis including bond sizing and structuring, net present value analysis and credit/risk analysis.
Students are assumed to have a good working knowledge of spreadsheet applications and basic quantitative proficiencies.
This course examines the process by which financing objectives are transformed into municipal bond transactions and other opportunities to utilize structured finance products in the health and corporate finance sectors. The course will center on a case study of an actual bond transaction that financed multiple new money (construction) and refunding projects. We will learn the mathematics underlying financial structure and the governing conventions and vocabulary of structured finance. We will study the instruments of structured finance and how they manifest into structural form. Once we have developed this core understanding, we will review in detail the Official Statement related to the case study to begin our exploration of the structuring process.
All cash flow elements of the structuring process will be discussed in detail and formulated in EXCEL. Once a sufficient understanding of the purpose and protocols associated with the structuring process is developed, we will explore the bond structuring process using DBC Finance, the industry standard bond structuring software.
This course will focus on the issuance and management of debt by state and local governments, nonprofit institutions and local authorities. The course will address the history and evolution of the capital markets through which municipal issuers borrow funds, primarily on a tax-exempt basis. The course will focus primarily on the issuance of long-term debt to support capital investment, but will also examine short-term borrowings as well.
Students will understand the role of the various participants in the capital markets, including but not limited to the issuer, underwriter, financial advisor, legal counsel, rating agency, insurer and investor. Specific case studies and assignments will explore important events in the municipal market that have resulted in significant change in participant behaviors and market volatility.
Students will become familiar with standard market calculations and analysis including bond sizing and structuring, net present value analysis and credit/risk analysis.
Students are assumed to have a good working knowledge of spreadsheet applications and basic quantitative proficiencies.
This course examines the process by which financing objectives are transformed into municipal bond transactions and other opportunities to utilize structured finance products in the health and corporate finance sectors. The course will center on a case study of an actual bond transaction that financed multiple new money (construction) and refunding projects. We will learn the mathematics underlying financial structure and the governing conventions and vocabulary of structured finance. We will study the instruments of structured finance and how they manifest into structural form. Once we have developed this core understanding, we will review in detail the Official Statement related to the case study to begin our exploration of the structuring process.
All cash flow elements of the structuring process will be discussed in detail and formulated in EXCEL. Once a sufficient understanding of the purpose and protocols associated with the structuring process is developed, we will explore the bond structuring process using DBC Finance, the industry standard bond structuring software.