Zero coupon bonds are a popular investment option with various types like CATs, STRIPs, TIGRs, LIONS, TRs, and TBRs. They offer quick calculations and can be volatile in price. Municipal zero coupon bonds are tax-exempt, but watch out for call and redemption risks. Wall Street can be tricky, so understand zero coupon yield to pay a fair price. Strips, callable, and convertible zero coupon bonds have their own nuances. The financial press may have errors, so be cautious.