My God is this guy crazy? Took out a loan on his house and bougt AAPL + CFC? I'm sorry but this guy is seriously nuts. I pray for him to make it out of this okay but he was asking for it!
I was just thinking - maybe my math is off - if they lost $5bln in futures and we assume this is European equity futures. Let's assume they liquidated being down 10%. Realizing a loss of ~$5bln means the value of the underlying was ~$50bln EUR.
That's ~285,000 FDAX contracts (Or an equivalent...
The markets response to the ECB comments is clear: nobody believes their BS. GBL futures soaring and EUR dropping. The way I look at it is that Mr. Market feels the ECB is dropping behind of the curve and their eventual cuts might come too late.
Daal is right, the ECB should consider data from around the world (Asia, US, Japan, UK/Spanish/Irish housing), take a hard look at the bond markets and see that the real risk here is deflation and not inflation.
http://www.bloomberg.com/apps/news?pid=20601087&sid=awp2.59dAji4&refer=home
an. 23 (Bloomberg) -- European Central Bank President Jean-Claude Trichet said he's committed to fighting inflation even after stock markets plunged and the U.S. Federal Reserve cut interest rates to avert a...