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ok. fair enough. that is fortunately something i do not have to obey and therefore are loaded in (short) Yens for some time - with additional gamma trading thrown in to spice it up...

if the reason is so simple why to invest in Nikkei and not simply short Yens?

there is no juice left especially considering that one does not know whether the total amount of single dip will be only the current 2.6b or up to maximum of 3.2b. including into calculation all other factors (390M fully diluted AAMRQ shares, all employee comps, etc) that makes a difference of...

whatever. i posted after a year or so but that was enough to remind myself that this elite website is really a waste of time.

can't you read Daal? ;) AAMRQ is a leveraged play on LCC stock. it moves more that LCC so in order to have a delta hedged neutral (pair) position you need to buy less of it than you sell LCC... that is all that is to it.

i am right. it is 140 LCC for each 100 AAMRQ. the deal is quite complicated. for instance now the AAMRQ should trade around 14.00 (LCC = 23.60) the delta is 140%. the reason is that the deal fixes/caps claims (constant c) and fix $LCC portion (28% of value) of the new AMR value. so it is...

for instance the dilution from convertibles is not included, employee compensation, etc... the hedge ratio is more like 1/1.4. (AAMRQ/LCC) botom line is that it is as good arb as you get - i traded various strategies around AMR for over 2 years now - it is a cash cow.

the JPM formula is wrong. it does not include some important aspects of the deal. read the disclosure better...

what the hell is this ZAR comment out of the blue? i would really like to hear his reasoning - looks more like he is pushing some trade...

imo most of the JGB will be ultimately cancelled after being bought by BOJ. the debt/GDP will go down with the difference showing up in money supply, causing real asset appreciation (i.e. paper yen depreciation). the only question is if they can keep the process stable - because if they can't...

it is possible. but i bought some at below 420 right now. :) i am happy with the dividend yield (3%) and the $100B backstop buyback for the next 2.5 years. it makes it a good long term hold for my investment portfolio. if there is some last flush of "traders" you suggest i will gladly buy...

so what. like that people more successful than you can't complain about other problems in their life? what a communist moron! glad i quit ET for good long time ago.

i also believe this is the case...

I already did that yesterday. one really has to wonder what is the point of HKD peg nowadays - other than politburo rigidity...

so let me get it straight. is Australia paying more than Italy and Spain on 2 year govies? :D

you mean lifted the ask maybe?

+1

that equals to ~1 month worth of Chinese imports...

are you finished? :D p.s. nice to see plugging in two "fuck" words in your heroic post. but you need to practise that more so it looks natural. :)

you are right - you've done it again - pure masturbation that nobody gives a shit about. btw in general nobody minds the intellectual argument - everybody welcomes that - that's why we primarily log in to this site. but nobody gives a shit about some play on words which is what it...