SHUMIN LI is Executive Director in the U.S. Securitized Products Strategy Group at UBS.

DOUGLAS J. LUCAS is Executive Director and head of CDO research at UBS.

THOMAS A. ZIMMERMAN is Managing Director in the U.S. Securitized Products Strategy Group at UBS.

FRANK J. FABOZZI, PhD, CFA, is Professor in the Practice of Finance at Yale University's School of Management and the Editor of the Journal of Portfolio Management.