FT book about derivatives

From The Jolly Contrarian
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Negotiation Anatomy

the goddam thing follows me round

Walk-away | Escalation | Algorithm | Heuristic | subject matter expert | Operationalisation | Playbook | Smart contract | Dead horse | Knife fight | 7 wastes | Cruddy legal advice

Proof of the old adage, “if you pay monkeys, you get peanuts”. Mastering the ISDA Master Agreements: A Practical Guide for Negotiation costs a lot of money[1] and takes a fair amount of shelf-space, sets out the terms of the ISDA Master Agreement and then summarises them in so many words but says very little about the practical business of negotiating an ISDA.

“In many of the more relaxed civilizations on the Outer Eastern Rim of the Galaxy, the Jolly Contrarian’s ISDA anatomy has already supplanted the great Mastering the ISDA Master Agreements: A Practical Guide for Negotiation as the standard repository of all knowledge and wisdom, for though it has many omissions and contains much that is apocryphal, or at least wildly inaccurate, it scores over the older, more pedestrian work in three important respects. First, it is a lot cheaper; secondly it has the words “IT’S ALL NONSENSE” inscribed in large friendly letters on its cover; and third, it actually contains some useful information.”

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References

  1. I know, I know, it isn’t strictly speaking a monkey, but a “monkey” sounds better than a “ton” or “two bullseyes” or “four ponies”, and it is all about effect right?