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“Wave it in?!”

February 4, 2003
Craig Johnson

As most of you know, we on the desk are shown hundreds of bonds everyday. Some are good risk/rewards (shapes), some are average risk/rewards (shapes) and some are down right lousy risk/rewards (shapes). Sometimes, just a quick glance is all a bond needs before dismissal and at other times, we explicitly calculate the shape to ascertain a bond’s true value.

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