Want Good Numbers? Watch Your Language

By Christopher Faille, Reporter
HedgeWorld Wednesday, September 24, 2003

Book Review

“Collateralized Debt Obligations & Structured Finance: New Developments in Cash & Synthetic Securitization,” by Janet M. Tavakoli, John Wiley & Sons, Inc., 2003, 338 pp., US$79.95 (cloth).

ENFIELD, Conn. (HedgeWorld)—The market for collateralized debt obligations has grown so quickly in recent years that the level of expertise needed to transact business in these products competently has developed only very unevenly. Even the basic terminology appropriate to the field is, in some respects, still unsettled. Both of these related problems have led to a third—an abundance of opportunities for fraud. Janet M. Tavakoli, author of the highly regarded “Credit Derivatives & Synthetic Structures” (2001), does what she can to address this market’s growing pains in her new book.

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