Hi, there, how r u? I'm facing now with a task received from my BOSS. He said to me, that i shall give idea about, how can we valuate the CPPI and long-/ short- strategy in (structured-) credit product- "scopeland", and thus try to construct a valuation-model for both of them. Hence, i have 2 Questions, which sound probably very naive: 1. CPPI is absolutely a structured credit product. But what does a valuation mean? Is it like that for CDS & Co. , as we equate the PV(premium) with PV(protection)? 2. I'll say that the long-/ short- strategy is only a strategy, but not a credit product. Did my BOSS misunderstand it or am i simple? If it is a credit product, how can we valuate it? Any responce will be appreciated. And wish U guys enjoy the final on this sunday

Oh... i'm still waiting.thanks to any reply.