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FFS, what in god's name does it have to do with left or right? The man achieved incredible things while almost 100% paralysed. None of us who are in full possession of our physical faculties can even begin to imagine what it's like. Have some goddamn respect.

I wonder how you'd have done in his situation...

You could argue that maybe the lenders in question were a bit too greedy and didn't diversify their loan portfolios sufficiently, instead choosing to concentrate in something which looked, frankly, bulletproof at the time. Speaking of medallions, this is a good story...

The Donald's gonna fix all this... Bigly Yugely Great again!

If you simulated this in extreme historical stress times, what sort of max DD do you get?

As of the end of 2016, DB's gross notional derivative exposure was arnd €46trn, according to this: https://www.reuters.com/article/us-deutschebank-derivatives-exposure/deutsche-bank-says-derivatives-exposure-fears-overblown-paper-idUSKCN12903G Gross notional is a pretty stupid measure, though...

It's an interesting question... Firstly, during normal times, you could argue that flash crashes and flash rallies should be equally likely. However, crashes that occur during broad economic downturns are more significant as they are reflections of people needing liquidity during times of stress.

Raoul Pal is being silly... DB's issues have very little, if that, to do with USD LIBOR/OIS spreads.

No, they're not competitors... BBG does CDS valuations etc.

True dat...

Correction, it's actually more like 4%...

And now CME announces SOFR futures: https://www.cmegroup.com/media-room/press-releases/2018/3/01/cme_group_announcesnewsofrfutureslaunchdateandcontractspecificat.html It's a-happenin', and somewhat faster than I expected, in fact...

The fund is down 7% YTD, if I am not mistaken... It has been a difficult run.

Other than throwing the copy of the area newspaper at Mrs Patterson, I am very curious to hear about any other interactions you might have ended up having with the good lady. Obviously, when you were quite a bit older and had access to all those massive returns you were able to generate...

Yes, yours is a possible interpretation, for sure... Still, it's hard to know what would have been the predominant form of ownership in the absence of the specific law. It's a difficult counterfactual for me to think about, tbh. At any rate, like I said, I see your point and I think it's a...

Yes, I saw this Wikipedia article and I appreciate your point and your criticism... Still, on balance, I am not sure why people shouldn't be allowed to conduct their business affairs in any way they deem appropriate.

Yes, moreover, isn't there also a sort of a "libertarian" argument here (made by some eminent Austrian economists)? Specifically, if the various stakeholders wish to structure their business relationship with limited liability, who's to say they shouldn't be able to? Caveat emptor and all that...

Possibly off-topic, but this here is a good analysis of the recent debacle: https://artursepp.com/2018/02/15/lessons-from-the-crash-of-short-volatility-etfs/

I do understand your point, but I just don't really know how this could be realistically structured. I mean, yes, it makes sense for partnerships/sole proprietorships, but those are, generally, small firms, with few principals. How can you have a large public company where some or of the...

Not really... What are the drawdown characteristics of all these strategies?