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December 1998 || Vol.3, No.12
DEPARTMENTS

PLAYERS
John Henry's Latest Deal
Plus: Briefly

SHORTS
Is S&P Volatility Overpriced?
Plus: Morgan Stanley's Greatest Hits…Making the Inc. 500

REGULATORY WATCH
Born On the Warpath

EXCHANGE NOTES
Swaps-Clearing Mania
Plus: The Merc Tackles Credit Derivatives

TECH NOTES
A Guide to Credit Software
Plus: New Products, Releases and Developments

  FEATURES

Defusing the Credit Crisis
The Great Asian Meltdown of 1997 and the credit crisis that followed caught most of the financial world by surprise. In the following series of articles, we examine what was wrong with credit models and how they can be improved.

Why We Missed the Asian Meltdown
Three leading credit analysts explain why important qualitative information was ignored—until it was too late.

Modeling Asia: A Roundtable
New approaches to the Asian credit problem.

Inside A Credit Trade
Intimidated by credit derivatives term sheets? Here's a guide to the details associated with a typical trade.

The Crisis in Credit Modeling
Excerpts from “Trading and Management of Credit and Default Risk,” a Derivatives Strategy conference sponsored by Chase Securities and cosponsored by Fitch IBCA.

Pension Funds' Slow Crawl Up the Learning

Plan sponsors have steadfastly ignored the benefits of risk management for years. But the success of a few trailblazers may break down the industry's long campaign of indifference.
By Robert Hunter

The Future of Futures Surveillance

Techno-sleuths are busy preparing to police the new electronic markets.
By Nina Mehta

The World According to Edward Altman

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