Title: Interesting, but full of errors
Product review: The recent developments in credit-risk analysis have been highly quantitative and theoretical. Hugues Pirotte & Didier Cossin provide a comprehensive overview of the most popular credit risk models. Their purpose is to allow practitioners to apply quantitative modeling to this complex area. I think that it is a quite good book: easy to read, clear for most of its explanations but I found too many mistakes in mathematical formulas. The editor could have been more careful with the reader's comfort. On the downside: the chapter on swap credit risk (a model from the authors) is so pretentious that it becomes very irritating and actually damages the quality of the book. In addition, no disk with source code!
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