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On the cap price issue, all inputs to the cap pricing were reproduced exactly, so that the failure to reproduce the prices themselves is a mystery.
Regarding the prepayment aging function it does not appear that the function presented in equation (22) on page 183, using the GNSF model coefficients, produced the output contained in figure 6, on page 184.
I point out these two issues in order to indicate the extent to which replicating the results of this chapter are possible. Finally, I was dissapointed in the willingness of the author to respond to clarifying questions regarding the presented material. I was surprised when I did not receive a response because the author was eager to answer a prior inquiry from me asking about the appicability of his chapter to my MBS modeling interests.
In any event, the chapter provides the best documentation of OAS model construction I have found. For those practitioners wanting to learn how to construct a workable OAS model for MBS fixed rate pass throughs I highly recommend chapter 10 of this book.
Well, this is a great story of triumph and bravery, however it is poorly written, and belongs at the private level. It is penned by a 60+ year old man who is thinking like a 16 year old boy, which makes it a perfect read for those who prefer the simpler things in life. No big words, no technical jargon, just strictly a story told as a man would tell it to his best friends at a party.
I really did enjoy this tale of a 14 year old who joined the Marine Corps and lived through 3 major campaigns to become a highly decorated Marine...all before he was 18, but the writing itself was enough to keep me from giving this anything higher than what it is.
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Like the earlier book, "Linda" takes place in a foreign city that the author had recently visited, in this case Nuremberg, and deals with the effect of religious bigotry on love and marriage. This time, instead of violently opposing a union, the bigoted aunt is trying to promote one, and the heroine struggles to escape into either spinsterhood or the arms of a more acceptable lover than the middle-aged boor who has been picked out for her.
The personae of "Linda Tressel" - all odd ducks except for Linda herself - belong to comedy, and a work in that vein might have succeeded. Trollope chose, however, to write a tale that becomes progressively grimmer, eventually toppling the lightweight characters. The book was not a total failure. It drew praise from Henry James (who guessed the author's identity from stylistic clues) and has both lively and pathetic moments. On the whole, though, one does not, after putting it down, feel deep regret that the "alternative Trollope" had no further literary career.
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What's interesting is that Saidy is unapologetically in favor of creativity and experimentation. You'd think it's better lose brilliantly than win a slow, tactical match.
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The remainder of the book dealt mostly with the uses of essential oils and was very complete, though a little dry to read -- no interesting new stories or anecdotes, just facts.