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Pastimes : Ask Mohan about the Market
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To: Bonnie Bear who wrote (9785)11/29/1997 9:45:00 PM
From: Bilow  Read Replies (1) of 18056
 
Hi BB; Well I went shopping, and bought F.I.A.S.C.O and
have had difficulty putting it down.

Well written, it is both entertaining and enlightening. It has a lot
to say about the Brady bonds.

Essentially what is going on is that risky paper is being repackaged
so that it doesn't look so risky. Some of the people who buy it
are just stupid, while others want to gamble with money that they
are supposed to be prudent with.

For a math/physics major, already familiar with options and
futures, the brief explanation of "duration" and "convexity"
are enough. It is also hilarious and frightening.

-- Carl
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