Friday, September 21, 2007

CMBS and Swaps

I am linking to just about every post of Kenny Pratt lately. But it is well-deserved. The guy just gets it.

When I was a younger associate I spent the better part of an evening trying to understand swaps. Yes, I eventually got it, but it took time. Had I had the benefit of Kenny's post on the nature of swaps some years ago, it would have taken five minutes to understand it. Great work!