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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Freedom Fighter who wrote (1771)	6/14/1999 4:13:00 PM
From: Worswick	Read Replies (1) of 3536

Henry and Wayne...the men. Hello to you both. As you know Henry - over very many posts - I am doubtful about the hedges here in derivative and swap land. In a waterfall decline a hedge is about as good as the last guy in line to believe in it. With $180 billion of margin debt curently outstanding, and accordng to Paul Volker... the world dependent upon the US for continued prosperty whuile the US is dependent upon the market for prosperity. "The market" being 50 Dow like stocks... 50 % of which have never made any money were are, at best, in for interesting times. My continued best to you both, Clark NB. When will the Herstatt "effect".... be called the Banker's Trust/Citibank/ Morgan "effect"?

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