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Bruce Tuckman

Bruce Tuckman

Clinical Professor of Finance

Leonard N. Stern School of Business
Kaufman Management Center
44 West 4th Street, 9-92
New York, NY 10012
Phone number: (212) 998-0072
Teaches Research Interests
  • Debt Instruments and Markets
  • Trading in Cash and Derivative Securities

Academic Background
Ph.D., 1989, Economics, Massachusetts Institute of Technology
A.B., 1984, Statistics and Economics, Harvard College

  • Barclays Capital, 9/08 to 1/10, Managing Director and member of Prime Services Executive Committee
  • Lehman Brothers, 9/02 to 9/08, Managing Director
  • Credit Suisse First Boston, 2/99 to 8/02, Managing Director
  • Salomon Brothers, 6/94 to 2/99, Managing Director (as of 11/97)
  • New York University, Stern School of Business, 9/88 to 6/94, Assistant Professor of Finance
  • UCLA, Anderson Graduate School of Management, 9/92 to 8/93, Visiting Asst. Professor of Finance

  • "Unintended Consequences of LOLR Facilities: the Case of Illiquid Leverage," with V. Acharya, IMF Economic Review 62(4), 2014.
  • "Embedded Financing: the Unsung Virtue of Derivatives," The Journal of Derivatives 21(1), Fall 2013.
  • "Federal Liquidity Options: Containing Runs on Deposit-Like Assets without Bailouts and Moral Hazard," Journal of Applied Finance, Vol. 22(2), 2012.
  • Fixed Income Securities: Tools for Today's Markets, Third Edition, w/ Angel Serrat, John Wiley & Sons, 2012
  • Advanced Fixed Income Valuation Tools, w/ N. Jegadeesh, Editors, John Wiley & Sons, 2000
  • "Subsidized Borrowing and the Discount Rate: The Case of Municipal Capital Budgeting and Financial Management," w/ A. Kalotay, Municipal Finance Journal, winter, 1999.
  • "Private vs. Public Lending: Evidence from Covenants," w/ M. Kahan, The Yearbook of Fixed Income Investing, Irwin Professional Publishing, 1995
  • "Calling Nonconvertible Debt and the Problem of Related Wealth Transfer Effects," w/ F. Longstaff, Financial Management, winter 1994
  • "Do Bondholders Lose from Junk-Bond Covenant Changes?" w/ M. Kahan, The Journal of Business, October 1993. Lead Article and Winner of the Merton Miller Award
  • "Sinking Fund Prepurchases and the Designation Option," w/ A. Kalotay, Financial Management, winter 1992
  • "A Tale of Two Bond Swaps," The Journal of Financial Engineering, w/ A. Kalotay, December 1992
  • "Arbitrage with Holding Costs: A Utility-Based Approach," w/ J.L. Vila, Journal of Finance, Sep. 1992
  • "Grandfather Clauses and Optimal Portfolio Revision," w/ J.L. Vila, J. of Risk and Insurance, Sep. 1992
  • "Prime and Score Premia: Evidence Against the Tax-Clientele Hypothesis," w/ L. Canina, Financial Management, winter 1996