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Each node represents a subsidiary which in turn can have another subsidiary. If you look at one of these things for an investment bank, it will have many layers. If you point your mouse at the node it gives you a debt ticker and amount outstanding

BBG support is awesome. Problem is - kmiklas does not have a terminal :)

IBM Equity CAST <go> Provides an overview of debtor organizational and capital structure, ranked by seniority, entity and recourse up the tree.

I think the total notional was maybe around 30 yards spread across 15-20 dealers. It's impossible to translate that into anything like a leverage number because the firm itself is so correlated to the underlying.

I have first-hand knowledge of these trades :) No, the maturities were reasonable, from 10-15, though the sizes were scary. Counterparties where fools for other reasons. Unlike a few other famous option trades (like the MS corporate option trade), these were easily hedged and vol risk was laid...

Dude, do you check your bbg messages? :)

Well, it was a good trade at the time, but with the change in their margin agreements that ship has sailed (their 10y CDS is with 90 handle at the moment anyway).

Is it going to be CNY denominated? What flavor will it be linked to?

Gonna be hard to raise money with these characteristics, especially since these are back tested metrics, not a real track record. My sense is that institutional investors was drawdowns on the order of 10-15%. Also, they would expect at least 50% of general partners PNW to be invested in the fund.

Well, they looked like a pretty poor idea in November 2008 (a year after inception), especially the SPX/SX5E/NKY worst-of basket :) at that moment it certainly looked like a lose-lose situation for both Berkshire and the dealers...

It's a well known story, he was selling 10-15 year ATM puts on major indices. Some of it was in vanilla form and some of it was on a basket of international indices that were crossed into USD. Just like other long dated vol sellers (e.g. HOOP) those are sophisticated trades. In this case, a lot...

Mostly comes downone word and it starts with a letter "t"...

Like what kinds? Ps. I am planning to keep emails and texts separated by using a secure phone hosting service (similar to Google Voice, there at a few choices out there at a reasonable price).

He's looking so enthusiastic when there is a steak in the oven :)

As usual, not exactly the right place, but I figured since the issue involves Apple devices it's best to ask here. My home laptop runs Ubuntu and I am very happy with it. I have also been using Android as my cell phone system and they work together well enough. However, new place of...

I already do - rock climbing is my thing, but the relief is pretty short.

Quoting Taleb in a thread about people that actually have alpha is rich :)

Lol, a number of exotics desks have blown up on this particular one (long dated index basket auto call). Some vol and correlation markets are actually dominated by these products now, like the NKY skew (my bread and butter lately). In fact, you don't want to provide hedges, you want to be...

Op wants to hear what other people do to deal with this problem. Nothing is off the table.

It's funny, what seems to throw me is not the job-related stress. In fact, the times when I feel anxiety-free are at my desk and in the climbing gym or the crag. To be honest, I am not working that hard - being a systematic trader helps a lot, I don't really have to grind things out...