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December 1998 || Vol.3, No.12

John Henry's Latest Deal
Plus: Briefly

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

Born On the Warpath

Swaps-Clearing Mania
Plus: The Merc Tackles Credit Derivatives

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


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