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Title: Empirical-driven research well-presented
Review: A no-nonsense, cut'n dry overview of Mr. Altman's extensive empirical research on the distressed securities market. His statistical procedures and index calculations offer a nice illustrative summary of this niche market, albeit his sample size is quite limited and a handful of his models are rendered inconclusive. However, this book is geared for someone having a keen interest in distressed securities, in particular. Definitely not for someone who wishes to gain an introductory understanding of general finance. Personally, the one deficiency in the book is its dryness.
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