Java deep copy

public static <E> E deepClone(E object) throws IOException, ClassNotFoundException {
        ByteArrayOutputStream bo = new ByteArrayOutputStream();
        ObjectOutputStream oo = new ObjectOutputStream(bo);
        oo.writeObject(object);
        ByteArrayInputStream bi = new ByteArrayInputStream(bo.toByteArray());
        ObjectInputStream oi = new ObjectInputStream(bi);
        return (E)oi.readObject();
    }