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| List of figures and tables | |
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| Preface to the revised edition | |
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| Preface to the first edition | |
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| Prologue | |
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| Miracles and mirages | |
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| Serial crimes | |
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| Beginning of the end/end of the beginning | |
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| Knowns and unknowns | |
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| Unreliable recollections | |
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| Summary judgment | |
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| Financial WMDs - derivatives demagoguery | |
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| School days | |
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| It's all Chinese to me | |
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| A derivative idea | |
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| Betting shops | |
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| Secret subtexts | |
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| Leveraged speculations | |
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| Under the radar | |
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| Whole lotta swapping going on | |
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| The golden age/LIBOR minus 50 | |
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| Warehouses | |
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| Serial killings | |
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| Forbidden fruit | |
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| Derived logic | |
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| Beautiful lies - the 'sell' side | |
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| Smile and dial | |
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| Market colour | |
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| Rough trade | |
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| Analyze this | |
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| Class wars | |
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| Ultra vires | |
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| Feudal kingdoms | |
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| Uncivil wars | |
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| Golden rules | |
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| Business models | |
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| The medium is the message | |
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| Bondage | |
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| Tabloid cultures | |
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| Conspicuous currency | |
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| Ethnic cleansing | |
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| Foreign affairs | |
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| FILTH | |
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| Lost in translation | |
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| A day in the life | |
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| True lies - the 'buy' side | |
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| Turn of the fork | |
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| Risky business | |
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| Magic kingdoms | |
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| Stripping or stacking/hedging perils, again | |
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| Me too | |
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| 'Zaiteku' or the bride stripped bare | |
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| The gamble in P & G | |
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| Tobashi, baby | |
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| Gnomes of Zermatt and Belgian dentists | |
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| Death swaps | |
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| Investment fashions | |
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| Alpha, beta, zeta | |
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| Looking after the relatives | |
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| Agents all | |
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| Unique selling propositions | |
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| Show me the money - greed lost and regained | |
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| Money uncertainty | |
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| Toll booths | |
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| Take a seat | |
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| Efficient markets | |
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| On the platform | |
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| A day at the races | |
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| Black swans, black sheep | |
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| Trading places | |
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| Secret intelligence | |
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| Overwhelming force | |
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| Oracle of Delphi | |
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| Free money | |
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| The colour of money | |
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| In reserve | |
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| A comedy of errors | |
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| Black holes | |
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| What's the number? | |
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| Nothing like excess | |
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| Nice work if you can get it | |
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| Dukes of Hazard | |
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| The perfect storm - risk mismanagement by the numbers | |
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| Shock therapy | |
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| Holy risk! | |
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| Bisk spin | |
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| Risqu� matters | |
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| Placebo effects | |
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| Among the unbelievers | |
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| Risk cults | |
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| In the long run… | |
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| Modus operandi | |
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| Secret trader's business | |
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| Let the good times roll | |
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| The perfect storm | |
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| Weather forecasts | |
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| Endgame | |
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| Mean risk | |
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| Extreme sports | |
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| Super models - derivative algorithms | |
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| Out of the sheltered workshops | |
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| Rocket science | |
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| Culture wars | |
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| Conveyor belts | |
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| Trivial pursuits | |
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| Grand oprey | |
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| The quest | |
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| Genesis | |
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| Gospels | |
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| Greek tragedies | |
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| Failing the model test | |
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| CSI (Crime Scene Investigation) 1987 - 'Oh LOR-dy!' | |
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| CSI 1992 - ERM (extremely risky, man!) | |
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| CSI 1998 - selling England by the pound | |
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| CSI 1998 - Asian fever | |
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| Model envy | |
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| Omitted variable bias | |
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| Games without frontiers - the inverse world of structured products | |
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| Driving over lemons | |
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| The best of times … the worst of times | |
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| Ghostbusters | |
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| It wasn't me, sir | |
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| Heaven and hell | |
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| Split personality | |
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| Golfing holidays | |
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| The flood | |
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| Power to the people | |
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| Recycling junk | |
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| Six packs | |
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| Take no prisoners | |
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| The usual suspects | |
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| Share and share alike - derivative inequity | |
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| Billion dollar baby | |
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| Self arbitrage | |
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| Arbitraging others | |
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| Taking it over | |
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| Buying back the farm | |
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| Who's fooling who? | |
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| Strippers | |
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| Pearls of wisdom | |
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| Own goals | |
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| Taxing times | |
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| Fund times | |
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| Credit where credit is due - fun with CDS and CDO | |
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| Credit wars | |
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| Credit epiphanies | |
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| First-to-credit derivatives | |
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| Remote credit | |
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| Mistaken identity | |
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| Heard it on the grapevine | |
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| Guaranteed delivery | |
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| Re-re-re-re-restructuring - CDS stutters | |
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| Beyond the push and pull | |
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| Imitation and flattery | |
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| Tranche warfare | |
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| It's super | |
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| A capital idea | |
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| The arbitrage age | |
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| Hangovers | |
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| UFOs | |
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| Geeks with Greeks | |
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| Never believe your own lies | |
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| Russian dolls | |
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| Black holes | |
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| Epilogue | |
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| The Asian century redux | |
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| Vexatious litigation | |
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| The more things change | |
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| Hot tubbing | |
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| Rogue trader | |
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| Bangs and whimpers | |
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| The China Club | |
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| BOAT (Best of all time) | |
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| Knowns and unknowns | |
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| Afterword: Credit crunch - the new known known of financial markets | |
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| Living in the Age of Kali … | |
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| Supersize my debt! | |
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| Would you like debt with that? | |
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| The new liquidity factory | |
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| Lying NINJA mortgagors | |
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| The lines of transmission | |
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| It's different this time! | |
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| The bear comes out of hibernation | |
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| Waiting for the other shoe to fall … | |
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| Financial shell games | |
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| The short and long of it all | |
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| Model shock | |
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| Missing the mark | |
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| Truth in labelling | |
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| Regulatory irregularities | |
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| Reversion to mean | |
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| Credit crunch | |
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| Notes | |
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| Index | |