Customer Reviews

Understanding Interest Rate Swaps

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The book easily shows its age in its focus on standards and issues which have long ago fallen by the wayside in this dynamic market. Far worse is that the book is preciously short on quantitative and analytic methods, and long on third-grade-teacher types of admonishments. I read the whole book becasue I paid for it, there are better, more up-to-date volumes out there. Could possibly be re-named "Swaps for English Majors", although, English majors as a group might correctly be upset at this association.

I'm in the process of reading this book. Some of the advice is very pedestrian (i.e. someone who gives you good service should be rewarded when possible.) And there is a little too much ettiquette-like advice along the same lines previously mentioned, and it's a little short on more of the quantitative explanations for me, but all in all, helpful, though keep in mind, this was written before the market exploded a decade ago.

This book has been damned for being too simplistic, therefore consign it to the trash cart, or so we are expected to do. But given the relative novelty of these financial products simplicity in the best sense of word could be seen as a virtue in any work dealing with this topic. So, why the evident annoyance from some. Could it be that this work dissolves some of the mystery involved, and threatens some closed shop in these markets ?