Fatih Fazilet is a financial economist specializing in market manipulation allegations, valuation issues, and alleged securities fraud. Dr. Fazilet applies economic and financial models to analyze large, complex datasets related to various financial instruments and litigation disputes. His experience includes performing valuations in the context of merger and acquisition (M&A) transactions, estimating credit risk, conducting event studies, evaluating market efficiency, and assessing economic damages.
Dr. Fazilet’s representative work includes:
Market manipulation and market microstructure
- Investigating alleged trader conduct, including evidence of potential spoofing incidents across various futures markets
- Analyzing large financial market transaction databases to identify trading patterns
- Using detailed order book data, in conjunction with trading data, to evaluate the drivers of market movements
- Conducting causality analysis to assess connections between trader actions and price movements
- Analyzing profit and loss (P&L) due to allegedly illicit trades
Valuation and financial institutions
- In the context of M&A transactions, using discounted cash flow (DCF), comparable companies, and other valuation approaches to calculate stand-alone and pro forma valuations of companies
- Analyzing the terms and pricing of syndicated loans, including benchmarking of commitment fees
- Estimating discounts to the market prices of illiquid assets to reflect their decreased marketability
- Assessing the valuation of residential mortgage-backed securities (RMBS)
Securities litigation
- Consulting on economic damages issues related to Section 10b-5 and Section 11 claims
- Analyzing market efficiency and estimating the price impacts of public disclosures on security prices
- Conducting event study analyses, including models that account for shifts in volatility during periods of market turbulence or global disruption
Prior to joining Cornerstone Research, Dr. Fazilet worked at Freddie Mac as a quantitative credit risk modeler and as an economist at an international consulting firm.