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Welcome to the major leagues of debt. Collateralized debt obligations, almost always referred to as a CDOs, are horrendously
complicated deals that often leave anyone without a MBA wondering what was put into these CDOs.
The first thing to
understand about bonds, (aka debt) is that bonds are often backed by something else. Think about your home mortgage. If you
don't pay your mortgage, the bank can take the house. You end up homeless, and the bank sells the house to pay off the rest
of that mortgage. There is something "backing" that mortgage; something lender can fall back on, if you don't pay your bills
like a good human being. That's called collateral.
CDOs are one flavor of an entire sector of investing called structured
finance, and they are also backed. CDOs, in the simplest concept, are just bonds backed by something else. In most cases,
a CDO is backed by a collection of various types of debt. CDOs can be home mortgages, or other types of debt like credit cards,
auto loans, and personal loans. Most of these types of debt are usually considered a bit more risky and they don't have the
backing that a home loan does. So, if you think it through, you can imagine that CDOs are usually considered a risky investment.
To take a step further, understand that CDOs have multiple flavors within each CDO. These flavors are called tranches. If you've taken French, you might recognize the word, it means "slice" or "portion." Each slice of that CDO you invest in is a little different and carries different amounts of risk.
You could invest in the lowest risk tranche of the CDO, which would
provide you lower risk. But, you don't get a good return on that investment. Or, you can be the heroic adventurer of bonds
and invest in the lowest-grade tranche of the CDO. You'll make an amazing return, but if the economy even looks at you wrong,
you might lose the entire investment.
CDOs aren¿t easy, and are almost always invested in by mutual funds, insurance
companies and hedge funds. As an individual investor, you will probably not come across a CDO you can participate in.
Home / Markets / Industries / Technology
Monday, May 05, 2008
New Analog Devices MEMS-Based Vibration Sensor Helps Keep Factory Equipment On-Line
Comtex
NORWOOD, Mass., May 05, 2008 (BUSINESS WIRE) ----Analog Devices, Inc. (NYSE: ADI) today introduced a high-bandwidth MEMS vibration sensor to enable better monitoring of equipment performance and reduce costly downtime due to unforeseen system failures on the factory floor. Based on Analog Devices' iMEMS Motion Signal Processing(TM) technology, the new ADXL001 industrial vibration and shock sensor for the first time allows designers of industrial process control instruments to cost-effectively incorporate high-performance, dependable high-bandwidth vibration monitoring into their applications via an easy-to-use sensor solution.
Vibration analysis is emerging as an important preventative maintenance tool in today's factory environment. For many industrial operations, however, vibration analysis remains cost-prohibitive or is conducted only periodically. Now, the new ADXL001 allows vibration monitoring to be performed continuously without interrupting normal operation of the equipment. Analog Devices applied the same expertise it uses to address the high-reliability and harsh environmental conditions of automotive design to develop a single-chip, precision vibration sensor able to withstand the rigors of industrial applications--at one-third the cost of competing sensors. Many other vibration sensors operate below 5 kHz of bandwidth, a frequency range that would be emitted only after extensive equipment failure. The ADXL001, however, is capable of very early detection of motor-bearing vibration and irregularities up to 22 kHz, allowing system operators to identify failing equipment long before costly damage is sustained. The new iMEMS vibration sensor is available in a 5-mm x 5-mm ceramic package that is small enough to be easily designed into the motor control circuitry or mounted on existing factory equipment at the point of measurement interest.
"A catastrophic equipment failure can cost hundreds of thousands of dollars in lost productivity and is the worst-case scenario for any manufacturing operation," said Rich Mannherz, product line director, Micromachined Products Division, Analog Devices. "While various vibration sensing technologies have been used for years to mitigate the risk of system failure, none have the combination of size, performance, cost and reliability to make real-time, around-the-clock equipment health monitoring broadly available in industrial applications. That's the gap we're filling with the ADXL001 product."
More About the ADXL001 Industrial Vibration and Shock Sensor
Available in three full-scale dynamic ranges of +/-70 g, +/- 250 g and +/- 500 g, the new vibration and shock sensors have the sensitivity to work in a wide range of applications. All three g ranges have wide bandwidth (22-kHz resonant frequency) and provide frequency response down to dc. Additionally, the sensors have excellent nonlinearity of 0.2 percent of full-scale range. The ADXL001 is highly resistant to EMI (electromagnetic interference) and RFI (radio frequency interference), and operates with an extended temperature range of -40 degrees C to +125 degrees C, allowing the part to be used in most hazardous industrial conditions. The ADXL001 functions on a 3.3-V to 5-V supply.
The ADXL001 requires no calibration and is ideally suited to work with Analog Devices' precision data converters. The ADXL001 also works in conjunction with ADI's SigmaDSP(TM) processor and intuitive SigmaStudio(TM) graphical user interface to provide equipment designers with an easy-to-use programming environment. As the output of the ADXL001 passes through the SigmaDSP processor, the system designer can use the SigmaStudio software to perform various processing techniques including filtering and amplification.
Product Availability
The ADXL001 will be available in sample quantities in May, with volume production scheduled for August. The ADXL001 is priced at $35 in 1,000-unit quantities and comes in an 8-pin LCC (leadless chip carrier) ceramic package. For more information, visit http://www.analog.com/ADXL001.
About Analog Devices
Innovation, performance, and excellence are the cultural pillars on which Analog Devices has built one of the longest standing, highest growth companies within the technology sector. Acknowledged industry-wide as the world leader in data conversion and signal conditioning technology, Analog Devices serves over 60,000 customers, representing virtually all types of electronic equipment. Celebrating over 40 years as a leading global manufacturer of high-performance integrated circuits used in analog and digital signal processing applications, Analog Devices is headquartered in Norwood, Massachusetts, with design and manufacturing facilities throughout the world. Analog Devices' common stock is listed on the New York Stock Exchange under the ticker "ADI" and is included in the S&P 500 Index. http://www.analog.com
iMEMS is a registered trademark and Motion Signal Processing, SigmaDSP and SigmaStudio are trademarks of Analog Devices, Inc.
SOURCE: Analog Devices, Inc.
EDITORS ONLY CONTACT : Analog Devices, Inc. Howard Wisniowski Tel: 781-937-1517 howard.wisniowski@analog.com (Please Do Not Publish)
Copyright Business Wire 2008
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