Here is a review left by a customer on a product. Would you say he was satisfied or dissatisfied?
Title: Do not waste your money
Review: This is one of the worst books I have ever read. I was lucky to sell it on zShops for half of face value. Clearly, this guy has little or no experience with crederivs, and his weak command of English just makes it worse. While I think Nelken's book is also a little thin on material, and Tavakoli's book represents a somewhat dated view of the market, both are substantially more educational than this one. My own experience suggests that one is far better off to understand bond/loan trading first, plus some structuring and capital allocation. That is enough to figure out how to trade crederivs. All this hype about the insane risk in these things is crap - it's not substantially more risky than bonds, and people have been in that business for a long time. The only essential difference - counterparty risk - is not really addressed in any satisfactory manner anywhere.
