Search results

What is it with you and sharks, tj? Why not tigers, piranhas or chimps?

It wasn't that simple... The killa wasn't just that they had these BTPS, but the ginormous periph repo book. The two, in combination, is what kills you, Bear-style.

"Yambag"? This one I haven't heard ever before... Nice!

Only if you don't like being paid in BTPS/SPGBs/Portugal... Just think of it, you could be a proud owner of some really juicy European govt bond collateral. Wouldn't that be nice?

Jon Corzine, that's what...

Yeah, front end periphery Europe getting killed because of MFG.

Ha, I know better... Just means that next time I will do the exact opposite and lose myself money. Always works like this for me.

Normally, I'm really sh1t at timing these things, but I did nail this one. Even though I do say so myself.

OKI, makes sense then...

I couldn't resist it and took my NOKJPY off. Will add when it goes back to exciting levels. In a way, with trades like that, I would sort of like them to bumble along and not work for a while, so that I can take the carry. Obviously, with the expectation that it eventually does work.

Boom boom.

I don't think GDP was the reason for the rally. The reason for the rally was that everyone's short and got their blx squeezed.

Sorry, what am I supposed to do here?

Yes, but you're addressing the wrong argument... I don't think I or anyone else ever suggested that you can't use options for leverage. Obviously, you can. That's not the point. The point I am trying to make is that it's suboptimal to use options purely for leverage in the presence of a more...

I second that... The (wo)man is a legend!

It's not the first time this happens, so there's no "rules being changed". People who bought these sov CDS contracts knew the uncertainties and risks before they bought them. It's a sh1t contract and if you're getting screwed on it, you have nobody to blame but yourself.

The wonders of Hypo Re never cease...

Because it offered their governments and banks access to excessively cheap money/funding.

No, it ain't... Wonderful discussion we're having, innit? :)

Why is that?